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HYCM (Henyep Capital Markets) vs TopFX 2025

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025

In this head to head comparison of HYCM (Henyep Capital Markets) vs TopFX, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

HYCM (Henyep Capital Markets)
4/5 Stars Overall
  • Minimum Deposit: $20
  • Trust Score: 86
  • Tradeable Symbols (Total): 1199
TopFX
3.5/5 Stars Overall
  • Minimum Deposit: Depends on payment method
  • Trust Score: 67
  • Tradeable Symbols (Total): 655

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Regulation

HYCM (Henyep Capital Markets), established in 1977, is a well-regarded online broker with nearly half a century of experience under its belt. It holds two highly trusted Tier-1 licenses and one trusted Tier-2 license. The firm boasts a Trust Score of 86 from ForexBrokers.com, placing it in the "trusted" category. HYCM is not publicly traded, nor is it a bank, allowing them to focus on delivering a dedicated brokerage service to their clients.

Founded in 2010, TopFX has been in the online brokerage industry for over a decade. Holding one highly trusted Tier-1 license, TopFX has a Trust Score of 67 from ForexBrokers.com, which categorizes it within the "high risk" band. Like HYCM, TopFX is not publicly traded and is not a bank, concentrating their efforts on tailor-made brokerage solutions for their customers.

Feature HYCM (Henyep Capital Markets) logoHYCM (Henyep Capital Markets)
TopFX logoTopFX
Year Founded info 1977 2010
Publicly Traded (Listed) info No No
Bank info No No
Tier-1 Licenses info 2 1
Tier-2 Licenses info 1 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 1

Fees

HYCM (Henyep Capital Markets) earns 4.5 out of 5 stars for commissions and fees and ranks #16 out of 63 brokers at ForexBrokers.com, while TopFX scores 4 out of 5 stars and ranks #41. On EUR/USD specifically, HYCM’s Raw account tends to be cheaper than TopFX’s RAW account based on the all-in cost.

HYCM’s Raw account delivers an all-in cost of about 0.6 pips on EUR/USD after commission. Its Classic account carries wider variable spreads starting from 1.2 pips, and there’s also a fixed-spread option at 1.5 pips. Traders seeking the lowest pricing at HYCM will likely prefer the Raw account.

TopFX offers two account types on MetaTrader and cTrader: the commission-free ZERO account and the commission-based RAW account. The RAW account charges 2.75 EUR per side (5.50 EUR per round turn) and, based on July 2024 averages, comes to roughly 0.88 pips all-in on EUR/USD (0.33 pips average spread plus a 0.55 pip commission equivalent). The ZERO account has no commission but showed higher average spreads of 1.03 pips on EUR/USD in July 2024. Minimum deposit varies by payment method.

Feature HYCM (Henyep Capital Markets) logoHYCM (Henyep Capital Markets)
TopFX logoTopFX
Minimum Deposit info $20 Depends on payment method
Average spread (EUR/USD) - Standard account info 1.2 info 1.03 info
All-in Cost EUR/USD - Active info 0.6 info 0.88 info
Non-wire bank transfer info No No
PayPal (Deposit/Withdraw) info No
Skrill (Deposit/Withdraw) info Yes
Bank Wire (Deposit/Withdraw) info Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

HYCM (Henyep Capital Markets) offers a wider range of investments than TopFX, with 1,199 tradeable symbols versus 655 and 70 forex pairs versus 60. Both brokers support forex trading (CFD/spot) and offer crypto CFDs, while neither provides direct, delivered cryptocurrency. A key difference is stock market access: HYCM lets clients buy exchange-traded securities on both U.S. and international exchanges, whereas TopFX does not, making HYCM the better fit if you want actual shares alongside CFDs.

TopFX stands out with copy trading, which HYCM does not offer. For Range of Investments, HYCM is rated 4 stars and ranks #34 out of 63 brokers on ForexBrokers.com, while TopFX earns 3.5 stars and ranks #47. Choose HYCM if you want more symbols and the ability to buy U.S. and global stocks; pick TopFX if copy trading is a priority and a mid-sized lineup meets your needs.

Feature HYCM (Henyep Capital Markets) logoHYCM (Henyep Capital Markets)
TopFX logoTopFX
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 1199 655
Forex Pairs (Total) info 70 60
U.S. Stocks (Shares) info Yes No
Global Stocks (Non-U.S. Shares) info Yes No
Copy Trading info No Yes
Cryptocurrency (Underlying) info No No
Cryptocurrency (CFDs) info Yes Yes
Disclaimers Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).

Dive deeper: Best Copy Trading Platforms.

Trading platforms and tools

HYCM (Henyep Capital Markets) and TopFX both make it easy to get started with a free demo account and offer platforms for Windows desktop and the web. Each supports MetaTrader 4 (MT4) and lets you place trades straight from charts. HYCM adds more platform choice with its own in-house platform and MetaTrader 5 (MT5), while TopFX sticks to third-party options and does not offer MT5.

For tools and features, the big split is copy trading: TopFX supports it, HYCM does not. Both earn 4 stars for Trading Platforms and Tools, according to ForexBrokers.com. In that category, HYCM ranks #41 out of 63 brokers, and TopFX ranks #46. If you want MT5 and a proprietary platform, HYCM is the better fit. If your priority is copy trading within an MT4 setup, TopFX is the one to consider.

Feature HYCM (Henyep Capital Markets) logoHYCM (Henyep Capital Markets)
TopFX logoTopFX
Virtual Trading (Demo) info Yes Yes
Proprietary Desktop Trading Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info No Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes No
Charting - Indicators / Studies (Total) info 30 30
Charting - Trade From Chart info Yes Yes

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

HYCM (Henyep Capital Markets) and TopFX both offer mobile trading apps for iPhone and Android. Each app supports price alerts and lets you draw trendlines on charts, with drawings saved automatically. For charting, both provide 30 technical studies, covering common indicator needs. One notable gap is that neither app syncs watchlist symbols between the mobile app and your online account.

Both HYCM and TopFX earn 4 out of 5 stars for their mobile trading apps. In ForexBrokers.com’s Mobile Trading Apps category, HYCM ranks #38 out of 63 brokers, while TopFX ranks #52. That gives HYCM a slight edge in third-party rankings, though their mobile features are largely alike.

Feature HYCM (Henyep Capital Markets) logoHYCM (Henyep Capital Markets)
TopFX logoTopFX
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlists - Syncing info No No
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes Yes

Dive deeper: Best Forex Trading Apps.

Market research

Comparing market research, HYCM (Henyep Capital Markets) stands out for publishing daily market commentary, while TopFX does not. Both brokers stream forex news from top-tier sources like Bloomberg or Reuters and include research from Trading Central. TopFX adds Autochartist tools and a sentiment gauge showing long vs. short positioning—features HYCM does not provide. HYCM does not list TipRanks or Acuity Trading tools; for TopFX, use of TipRanks or Acuity Trading isn’t specified. Both brokers offer an economic calendar covering upcoming global events.

For overall research quality, HYCM earns 3.5 out of 5 stars and ranks #36 of 63 brokers on ForexBrokers.com, compared with TopFX at 3 stars and a #61 ranking. In short, pick HYCM if you value daily commentary and higher-rated research, or consider TopFX if Autochartist and sentiment insights are priorities alongside headline news and Trading Central analysis.

Feature HYCM (Henyep Capital Markets) logoHYCM (Henyep Capital Markets)
TopFX logoTopFX
Daily Market Commentary (Articles) info Yes No
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No Yes
Trading Central info Yes Yes
Client sentiment data info No Yes
TipRanks info No
Acuity Trading info No
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

For beginners comparing education at HYCM (Henyep Capital Markets) and TopFX, HYCM has the clear edge in video-based learning. HYCM offers at least 10 beginner-focused trading videos, while TopFX does not meet that mark. Neither broker hosts monthly educational webinars, and neither provides 10 or more advanced videos for experienced traders, so both are limited for live sessions and higher-level video content.

Ratings back up this difference: HYCM earns 3.5 out of 5 stars for Education and ranks 32nd out of 63 brokers on ForexBrokers.com. TopFX scores 3 stars and ranks 62nd. If beginner-friendly videos are a priority, HYCM is the stronger choice, while TopFX may suit traders who only need basic materials.

Feature HYCM (Henyep Capital Markets) logoHYCM (Henyep Capital Markets)
TopFX logoTopFX
Webinars info No No
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info No No

Dive deeper: Best Forex Brokers for Beginners.

Winner

After testing 63 of the best forex brokers, our research and account testing finds that HYCM (Henyep Capital Markets) is better than TopFX. HYCM (Henyep Capital Markets) finished with an overall rank of #29, while TopFX finished with an overall rank of #62.

HYCM is a trusted brand that offers a straightforward MetaTrader platform experience. Its Raw account delivers competitive pricing, and traders gain access to third-party modules from Trading Central as well as exchange-traded securities (available through a separate platform). That said, HYCM offers a narrow range of symbols to forex and CFD traders.

Feature HYCM (Henyep Capital Markets) logoHYCM (Henyep Capital Markets)
TopFX logoTopFX
Overall Rating info 4/5 Stars 3.5/5 Stars
Trust Score info 86 67
Range of Investments 4/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Research 3.5/5 Stars 3/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Education 4/5 Stars 3/5 Stars

FAQs

Can you trade cryptocurrency with HYCM (Henyep Capital Markets) or TopFX?

In a head-to-head comparison of online brokers HYCM (Henyep Capital Markets) vs TopFX for cryptocurrency trading, neither broker supports buying and taking delivery of actual cryptocurrencies, but both offer cryptocurrency CFDs for speculative trading.

What funding options does each broker offer?

HYCM (Henyep Capital Markets) and TopFX both do not support ACH or SEPA; HYCM also lacks PayPal but supports Skrill and bank wire transfers, while TopFX’s options for PayPal, Skrill, Visa/Mastercard, and bank wires—and HYCM’s Visa/Mastercard availability—are not specified.

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Overall Rating HYCM (Henyep Capital Markets) TopFX
Overall Rating info 4/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Range of Investments 4/5 Stars 3.5/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 3.5/5 Stars 3/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score info 86 67
Winner check_circle
Review HYCM (Henyep Capital Markets) Review TopFX Review
Broker Screenshots HYCM (Henyep Capital Markets) TopFX
Broker Gallery (click to expand) info
HYCM MT5 desktop trading platform HYCM client portal Analyst Views market analysis HYCM YouTube channel videos.
TopFX MetaTrader 4 desktop trading platform TopFX MetaTrader 4 desktop trading platform charts TopFX cTrader web trading platform TopFX cTrader desktop trading platform charts TopFX cTrader desktop trading platform TopFX cTrader desktop trading platform algo trading TopFX cTrader desktop market order window
Regulation HYCM (Henyep Capital Markets) TopFX
Trust Score info 86 67
Year Founded info 1977 2010
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info No info Yes info
Tier-1 Licenses info 2 1
Tier-2 Licenses info 1 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 1
Tier-1 Licenses (Highly Trusted) HYCM (Henyep Capital Markets) TopFX
Australia (ASIC Authorised) info No No
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info Yes No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info No info Yes info
Tier-2 Licenses (Trusted) HYCM (Henyep Capital Markets) TopFX
Kenya (CMA Authorised) info
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA, FSRA, or SCA Authorised) info Yes No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info
Investments HYCM (Henyep Capital Markets) TopFX
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 1199 655
Forex Pairs (Total) info 70 60
U.S. Stocks (Shares) info Yes No
Global Stocks (Non-U.S. Shares) info Yes No
Copy Trading info No Yes
Cryptocurrency (Underlying) info No No
Cryptocurrency (CFDs) info Yes Yes
Disclaimers Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).
Cost HYCM (Henyep Capital Markets) TopFX
Average spread (EUR/USD) - Standard account info 1.2 info 1.03 info
All-in Cost EUR/USD - Active info 0.6 info 0.88 info
Inactivity Fee info No No
Order execution: Agency info Yes No
Order execution: Market Maker info Yes Yes
Funding HYCM (Henyep Capital Markets) TopFX
Minimum Deposit info $20 Depends on payment method
PayPal (Deposit/Withdraw) info No
Skrill (Deposit/Withdraw) info Yes
Bank Wire (Deposit/Withdraw) info Yes
Non-wire bank transfer info No No
Trading Platforms HYCM (Henyep Capital Markets) TopFX
Proprietary Desktop Trading Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info No Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes No
cTrader info No Yes
Trading Tools HYCM (Henyep Capital Markets) TopFX
Virtual Trading (Demo) info Yes Yes
Price Alerts info Yes Yes
Charting - Indicators / Studies (Total) info 30 30
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading HYCM (Henyep Capital Markets) TopFX
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlist [DELETED] info
Mobile Watchlists - Syncing info No No
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes Yes
Mobile Research - Economic Calendar info Yes Yes
Research HYCM (Henyep Capital Markets) TopFX
Daily Market Commentary (Articles) info Yes No
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No Yes
Trading Central info Yes Yes
TipRanks info No
Client sentiment data info No Yes
Economic Calendar info Yes Yes
Education HYCM (Henyep Capital Markets) TopFX
Webinars info No No
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info No No
Major Forex Pairs HYCM (Henyep Capital Markets) TopFX
GBP/USD [DELETED] info
USD/JPY [DELETED] info
EUR/USD info Yes Yes
USD/CHF [DELETED] info
USD/CAD [DELETED] info
NZD/USD [DELETED] info
AUD/USD [DELETED] info
Review HYCM (Henyep Capital Markets) Review TopFX Review
Overall HYCM (Henyep Capital Markets) TopFX
Overall Rating info 4/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Range of Investments 4/5 Stars 3.5/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 3.5/5 Stars 3/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score info 86 67
Winner check_circle
Review HYCM (Henyep Capital Markets) Review TopFX Review
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