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, and Trade Nation, founded in 2014, are both reputable online brokers with strong regulatory credentials. Each broker holds two Tier-1 licenses, ensuring a high level of trust and safety for investors. These Tier-1 licenses are indicators of a highly trusted status according to ForexBrokers.com. Additionally, both brokers each maintain a Tier-2 license, complementing their regulatory framework. Neither HYCM nor Trade Nation is publicly traded or operates as a bank, which is common in the online brokerage industry.
In terms of trust and reliability, HYCM has a Trust Score of 86, while Trade Nation closely follows with a score of 85, as per ForexBrokers.com. These scores place both brokers in the "trusted" bracket, reflecting a strong regulatory standing. Investors looking for reliable trading platforms can find security with either HYCM or Trade Nation, thanks to their consistent adherence to safety and regulatory standards. With both brokers offering a similar trust profile, choosing between them might come down to other factors such as trading tools, customer service, or specific trading needs.
Feature |
HYCM (Henyep Capital Markets)
|
Trade Nation
|
Year Founded
info
|
1977
|
2014
|
Publicly Traded (Listed)
info
|
No
|
No
|
Bank
info
|
No
|
No
|
Tier-1 Licenses
info
|
2
|
2
|
Tier-2 Licenses
info
|
1
|
1
|
Tier-3 Licenses
info
|
0
|
0
|
Tier-4 Licenses
info
|
1
|
2
|
Fees
Looking at commissions and fees, Trade Nation edges out HYCM (Henyep Capital Markets) for overall value. Trade Nation earns 5.0/5 stars and ranks #7 of 63 brokers for this category, while HYCM scores 4.5/5 stars and ranks #16 of 63. Both can reach about 0.6 pips on EUR/USD, but they get there in different ways and with different levels of price predictability.
HYCM offers three pricing setups. Its Raw account delivers an all-in cost around 0.6 pips on EUR/USD after commission, making it the most cost-effective choice at HYCM. The Classic account uses variable spreads starting from 1.2 pips, and the Fixed account posts a steady 1.5-pip spread. These options let you choose between commission-based pricing or spread-only simplicity.
Trade Nation focuses on fixed spreads on its TN Trader platform, listing 0.6 pips on EUR/USD for most of the day; spreads widen for about an hour at daily rollover (up to roughly 1.4 pips), putting the true average closer to 1 pip. It also offers MetaTrader accounts, including a commission-free option (higher spreads) and a Raw Spread account that charges $3.50 per side ($7 round trip) per standard lot. When factoring all-in costs, TN Trader generally comes out lowest among Trade Nation’s account choices.
Feature |
HYCM (Henyep Capital Markets)
|
Trade Nation
|
Minimum Deposit
info
|
$20
|
$0
|
Average Spread EUR/USD - Standard
info
|
1.2
info |
0.6
|
All-in Cost EUR/USD - Active
info
|
0.6
info |
0.6
|
Active Trader or VIP Discounts
info
|
Yes
|
No
|
ACH or SEPA Transfers
info
|
No
|
No
|
PayPal (Deposit/Withdraw)
info
|
No
|
No
|
Skrill (Deposit/Withdraw)
info
|
Yes
|
Yes
|
Visa/Mastercard (Credit/Debit)
info
|
Yes
|
Yes
|
Bank Wire (Deposit/Withdraw)
info
|
Yes
|
Yes
|
Dive deeper: Best Low Spread Forex Brokers.
Range of investments
Comparing HYCM (Henyep Capital Markets) and Trade Nation on range of investments, HYCM lists 1,199 tradeable symbols versus Trade Nation’s 1,000. HYCM also offers 70 forex pairs compared with Trade Nation’s 46, and both brokers let you trade forex via CFDs or spot contracts. Each supports cryptocurrency derivatives but neither lets you buy actual coins.
For equities access, HYCM stands out by allowing clients to buy exchange-traded shares on both U.S. and international exchanges, while Trade Nation does not offer real share dealing. Trade Nation counters with copy trading, which HYCM doesn’t provide. In independent assessments of range of investments, HYCM earns 4 stars and ranks 34th out of 63 brokers, while Trade Nation scores 3.5 stars and ranks 39th. If you want wider market coverage and real stocks, HYCM is the stronger choice; if copy trading matters more, Trade Nation may suit you.
Feature |
HYCM (Henyep Capital Markets)
|
Trade Nation
|
Forex Trading (Spot or CFDs)
info
|
Yes
|
Yes
|
Tradeable Symbols (Total)
info
|
1199
|
1000
|
Forex Pairs (Total)
info
|
70
|
46
|
U.S. Stock Trading (Non CFD)
info
|
Yes
|
No
|
Int'l Stock Trading (Non CFD)
info
|
Yes
|
No
|
Social Trading / Copy Trading
info
|
No
|
Yes
|
Cryptocurrency (Physical)
info
|
No
|
No
|
Cryptocurrency (Derivative)
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 Trade Nation both check key boxes for trading platforms and tools: each offers a free demo (paper) account, a proprietary platform, and Windows desktop and web-based platforms. Both support MetaTrader 4 (MT4), while HYCM also offers MetaTrader 5 (MT5). Copy trading is a differentiator—Trade Nation supports it, HYCM does not. Neither broker connects to DupliTrade or ZuluTrade. For charting, both include technical indicators, but the toolkits differ: HYCM provides 15 drawing tools and lets you place trades directly from charts, whereas Trade Nation offers 39 drawing tools but does not support trading from charts.
Watchlists are more detailed at Trade Nation with 14 fields versus HYCM’s 7. In expert evaluations of trading platforms and tools, both earn 4 out of 5 stars, with HYCM ranked #41 and Trade Nation #45 out of 63 brokers by ForexBrokers.com. In short, choose HYCM if you want MT5 and trading from charts; pick Trade Nation if copy trading, extra drawing tools, and more watchlist columns matter most.
Feature |
HYCM (Henyep Capital Markets)
|
Trade Nation
|
Virtual Trading (Demo)
info
|
Yes
|
Yes
|
Proprietary Platform
info
|
Yes
|
Yes
|
Desktop Platform (Windows)
info
|
Yes
|
Yes
|
Web Platform
info
|
Yes
|
Yes
|
Social Trading / Copy Trading
info
|
No
|
Yes
|
MetaTrader 4 (MT4)
info
|
Yes
|
Yes
|
MetaTrader 5 (MT5)
info
|
Yes
|
No
|
DupliTrade
info
|
No
|
No
|
ZuluTrade
info
|
No
|
No
|
Charting - Indicators / Studies (Total)
info
|
30
|
115
|
Charting - Drawing Tools (Total)
info
|
15
|
39
|
Charting - Trade From Chart
info
|
Yes
|
No
|
Watchlists - Total Fields
info
|
7
|
14
|
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Forex trading apps
Both HYCM (Henyep Capital Markets) and Trade Nation offer iPhone and Android apps with price alerts and real-time watchlists. Their mobile charting covers the basics well: you can draw trendlines, switch between multiple time frames, and your drawings auto save. The main differences are in charting depth and watchlist features. HYCM’s mobile app includes 30 technical indicators, while Trade Nation packs in 99. Trade Nation also syncs watchlists between the mobile app and your online account, whereas HYCM does not.
Despite these contrasts, both apps earn 4 out of 5 stars for mobile trading. In ForexBrokers.com’s rankings out of 63 brokers, HYCM sits at #38 and Trade Nation at #46. If you value more indicators and synced watchlists, Trade Nation’s mobile app stands out. If you’re fine without syncing and prefer a simpler toolkit, HYCM’s mobile app will get the job done.
Feature |
HYCM (Henyep Capital Markets)
|
Trade Nation
|
Android App
info
|
Yes
|
Yes
|
Apple iOS App
info
|
Yes
|
Yes
|
Mobile Alerts - Basic Fields
info
|
Yes
|
Yes
|
Watchlist Syncing
info
|
No
|
Yes
|
Mobile Charting - Indicators / Studies
info
|
30
|
99
|
Mobile Charting - Draw Trendlines
info
|
Yes
|
Yes
|
Mobile Charting - Multiple Time Frames
info
|
Yes
|
Yes
|
Mobile Charting - Drawings Autosave
info
|
Yes
|
Yes
|
Mobile Watchlist
info
|
Yes
|
Yes
|
Dive deeper: Best Forex Trading Apps.
Market research
Comparing market research at HYCM (Henyep Capital Markets) and Trade Nation shows clear strengths on both sides. Each broker delivers daily market commentary and headline forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones. Both earn 3.5 out of 5 stars for research; however, HYCM ranks #36 out of 63 brokers at ForexBrokers.com, while Trade Nation ranks #43.
The toolsets differ. HYCM includes Trading Central analytics and an economic calendar, but does not offer Autochartist, a sentiment tool, TipRanks, or Acuity Trading. Trade Nation, on the other hand, provides a sentiment indicator and research from Acuity Trading (e.g., Signal Centre), but lacks Trading Central, an economic calendar, Autochartist, and TipRanks. In short, HYCM suits traders who value classic technical analysis and calendar-driven planning, while Trade Nation appeals to those who prefer crowd sentiment and third-party signal insights.
Feature |
HYCM (Henyep Capital Markets)
|
Trade Nation
|
Daily Market Commentary
info
|
Yes
|
Yes
|
Forex News (Top-Tier Sources)
info
|
Yes
|
Yes
|
Autochartist
info
|
No
|
No
|
Trading Central (Recognia)
info
|
Yes
|
No
|
Social Sentiment - Currency Pairs
info
|
No
|
Yes
|
TipRanks
info
|
No
|
No
|
Signal Centre (Acuity Trading)
info
|
No
|
Yes
|
Economic Calendar
info
|
Yes
|
No
|
Dive deeper: Best Brokers for Forex Research.
Beginners and education
When assessing the educational resources available to new traders, both HYCM (Henyep Capital Markets) and Trade Nation offer a solid foundation. Each broker provides more than ten educational items focused on forex and CFDs, such as articles and videos. This is particularly beneficial for beginners stepping into the trading world. Both platforms also feature ten or more videos specifically designed for beginners, making it easier for newcomers to understand trading basics. However, while Trade Nation excels in offering advanced educational videos, HYCM falls short, which might affect more experienced traders looking for in-depth content.
In terms of additional resources, HYCM provides a searchable archive of past webinars, offering extra learning opportunities, whereas Trade Nation does not. Both brokers offer a comprehensive investor dictionary with over 50 investing terms to help traders get acquainted with industry terminology. Despite their similar educational ratings of 3.5 stars, HYCM is ranked slightly higher at #32 compared to Trade Nation at #41 based on ForexBrokers.com rankings. This indicates a marginal advantage for HYCM in the quality and availability of educational resources.
Feature |
HYCM (Henyep Capital Markets)
|
Trade Nation
|
Education (Forex or CFDs)
info
|
Yes
|
Yes
|
Client Webinars
info
|
No
|
No
|
Client Webinars (Archived)
info
|
Yes
|
No
|
Videos - Beginner Trading Videos
info
|
Yes
|
Yes
|
Videos - Advanced Trading Videos
info
|
No
|
Yes
|
Investor Dictionary (Glossary)
info
|
Yes
|
Yes
|
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 Trade Nation. HYCM (Henyep Capital Markets) finished with an overall rank of #29, while Trade Nation finished with an overall rank of #34.
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.
FAQs
Can you trade cryptocurrency with HYCM (Henyep Capital Markets) or Trade Nation?
Both HYCM (Henyep Capital Markets) and Trade Nation do not provide options to purchase actual cryptocurrencies, but they each offer the ability to trade cryptocurrency derivatives.
What funding options does each broker offer?
Both HYCM (Henyep Capital Markets) and Trade Nation offer similar deposit and withdrawal options, lacking ACH, SEPA, and PayPal options, but both support Skrill, Visa, Mastercard, and bank wires for their clients.
announcementPlease note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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Overall Rating
|
HYCM (Henyep Capital Markets) |
Trade Nation |
|
Overall Rating info
|
|
|
|
Commissions & Fees |
|
|
|
Range of Investments |
|
|
|
Platforms & Tools |
|
|
|
Mobile Trading |
|
|
|
Research |
|
|
|
Education |
|
|
|
Trust Score info
|
86
|
85
|
|
Winner |
check_circle
|
|
|
Review |
HYCM (Henyep Capital Markets) Review
|
Trade Nation Review
|
|
Broker Screenshots
|
HYCM (Henyep Capital Markets) |
Trade Nation |
|
Broker Gallery (click to expand) info
|
|
|
|
Regulation
|
HYCM (Henyep Capital Markets) |
Trade Nation |
|
Trust Score info
|
86
|
85
|
|
Year Founded info
|
1977
|
2014
|
|
Publicly Traded (Listed) info
|
No
|
No
|
|
Bank info
|
No
|
No
|
|
Regulated in one or more EU or EEA countries (MiFID). info
|
No
info
|
No
info
|
|
Tier-1 Licenses info
|
2
|
2
|
|
Tier-2 Licenses info
|
1
|
1
|
|
Tier-3 Licenses info
|
0
|
0
|
|
Tier-4 Licenses info
|
1
|
2
|
|
Tier-1 Licenses (Highly Trusted)
|
HYCM (Henyep Capital Markets) |
Trade Nation |
|
Australia (ASIC Authorised) info
|
No
|
Yes
|
|
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
|
Yes
|
|
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
|
No
info
|
|
Tier-2 Licenses (Trusted)
|
HYCM (Henyep Capital Markets) |
Trade Nation |
|
Kenya (CMA Authorised) info
|
|
|
|
Israel (ISA Authorised) info
|
No
|
No
|
|
South Africa (FSCA Authorised) info
|
No
|
Yes
|
|
UAE (DFSA, FSRA, or SCA Authorised) info
|
Yes
|
No
|
|
India (SEBI Authorised) info
|
No
|
No
|
|
Jordan (JSC Authorised) info
|
|
|
|
Investments
|
HYCM (Henyep Capital Markets) |
Trade Nation |
|
Forex Trading (Spot or CFDs) info
|
Yes
|
Yes
|
|
Tradeable Symbols (Total) info
|
1199
|
1000
|
|
Forex Pairs (Total) info
|
70
|
46
|
|
U.S. Stock Trading (Non CFD) info
|
Yes
|
No
|
|
Int'l Stock Trading (Non CFD) info
|
Yes
|
No
|
|
Social Trading / Copy Trading info
|
No
|
Yes
|
|
Cryptocurrency (Physical) info
|
No
|
No
|
|
Cryptocurrency (Derivative) 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) |
Trade Nation |
|
Average Spread EUR/USD - Standard info
|
1.2
info
|
0.6
|
|
All-in Cost EUR/USD - Active info
|
0.6
info
|
0.6
|
|
Active Trader or VIP Discounts info
|
Yes
|
No
|
|
Inactivity Fee info
|
No
|
No
|
|
Execution: Agency Broker info
|
Yes
|
No
|
|
Execution: Market Maker info
|
Yes
|
Yes
|
|
Funding
|
HYCM (Henyep Capital Markets) |
Trade Nation |
|
Minimum Deposit info
|
$20
|
$0
|
|
PayPal (Deposit/Withdraw) info
|
No
|
No
|
|
Skrill (Deposit/Withdraw) info
|
Yes
|
Yes
|
|
Visa/Mastercard (Credit/Debit) info
|
Yes
|
Yes
|
|
Bank Wire (Deposit/Withdraw) info
|
Yes
|
Yes
|
|
ACH or SEPA Transfers info
|
No
|
No
|
|
Trading Platforms
|
HYCM (Henyep Capital Markets) |
Trade Nation |
|
Proprietary Platform info
|
Yes
|
Yes
|
|
Desktop Platform (Windows) info
|
Yes
|
Yes
|
|
Web Platform info
|
Yes
|
Yes
|
|
Social Trading / Copy Trading info
|
No
|
Yes
|
|
MetaTrader 4 (MT4) info
|
Yes
|
Yes
|
|
MetaTrader 5 (MT5) info
|
Yes
|
No
|
|
cTrader info
|
No
|
No
|
|
DupliTrade info
|
No
|
No
|
|
ZuluTrade info
|
No
|
No
|
|
Trading Tools
|
HYCM (Henyep Capital Markets) |
Trade Nation |
|
Virtual Trading (Demo) info
|
Yes
|
Yes
|
|
Alerts - Basic Fields info
|
Yes
|
Yes
|
|
Watchlists - Total Fields info
|
7
|
14
|
|
Charting - Indicators / Studies (Total) info
|
30
|
115
|
|
Charting - Drawing Tools (Total) info
|
15
|
39
|
|
Charting - Trade From Chart info
|
Yes
|
No
|
|
Charts can be saved info
|
Yes
|
No
|
|
Mobile Trading
|
HYCM (Henyep Capital Markets) |
Trade Nation |
|
Android App info
|
Yes
|
Yes
|
|
Apple iOS App info
|
Yes
|
Yes
|
|
Mobile Alerts - Basic Fields info
|
Yes
|
Yes
|
|
Mobile Watchlist info
|
Yes
|
Yes
|
|
Watchlist Syncing info
|
No
|
Yes
|
|
Mobile Charting - Indicators / Studies info
|
30
|
99
|
|
Mobile Charting - Draw Trendlines info
|
Yes
|
Yes
|
|
Mobile Charting - Multiple Time Frames info
|
Yes
|
Yes
|
|
Mobile Charting - Drawings Autosave info
|
Yes
|
Yes
|
|
Mobile Economic Calendar info
|
Yes
|
No
|
|
Research
|
HYCM (Henyep Capital Markets) |
Trade Nation |
|
Daily Market Commentary info
|
Yes
|
Yes
|
|
Forex News (Top-Tier Sources) info
|
Yes
|
Yes
|
|
Autochartist info
|
No
|
No
|
|
Trading Central (Recognia) info
|
Yes
|
No
|
|
TipRanks info
|
No
|
No
|
|
Social Sentiment - Currency Pairs info
|
No
|
Yes
|
|
Economic Calendar info
|
Yes
|
No
|
|
Education
|
HYCM (Henyep Capital Markets) |
Trade Nation |
|
Education (Forex or CFDs) info
|
Yes
|
Yes
|
|
Client Webinars info
|
No
|
No
|
|
Client Webinars (Archived) info
|
Yes
|
No
|
|
Videos - Beginner Trading Videos info
|
Yes
|
Yes
|
|
Videos - Advanced Trading Videos info
|
No
|
Yes
|
|
Investor Dictionary (Glossary) info
|
Yes
|
Yes
|
|
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