Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs HYCM (Henyep Capital Markets), we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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When comparing Charles Schwab and HYCM (Henyep Capital Markets), both well-established online brokers, there are notable differences in their regulatory credentials and investment offerings. Founded in 1971, Charles Schwab is an established financial institution that is publicly traded and operates as a bank. With a ForexBrokers.com Trust Score of 99 out of 99, Schwab is considered a highly trusted broker. It holds five Tier-1 licenses, reinforcing its reputation for reliability and security. On the other hand, HYCM, founded in 1977, is not publicly traded and does not operate as a bank. It holds two Tier-1 licenses and one Tier-2 license, earning a Trust Score of 86 out of 99, which positions it as a trusted broker but not at the same level as Charles Schwab.
The regulatory landscape for these two brokers underscores distinct approaches to securing client trust and navigating the financial market. Charles Schwab's status as a bank and stock exchange listing provide additional layers of trust and scrutiny, appealing to those seeking stability and a comprehensive financial service provider. Meanwhile, HYCM, while also trusted, focuses on providing solid brokerage services without the additional banking services that Schwab offers. These differences highlight the importance of understanding each broker's regulatory standing and service offerings when making decisions about online trading.
| Feature |
Charles Schwab
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Year Founded | 1971 | 1977 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 2 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Charles Schwab's online brokerage platform provides easy access to forex trading without a minimum deposit requirement for its main accounts, Schwab One and Schwab Global. Schwab does not charge commissions on forex trades, employing the bid/ask spread system instead. However, its average EUR/USD spread of 1.35 pips is on the higher end according to industry standards. Schwab's overnight carry charges are listed transparently within the thinkorswim platform, allowing traders to calculate holding costs. For its services, Schwab earns an impressive 4-star rating and ranks #23 out of 62 brokers in the Commissions and Fees category.
HYCM offers a competitive fee structure with its Raw account, which includes a total cost of around 0.6 pips for the EUR/USD currency pair after commission. Its Classic account, with a variable spread starting from 1.2 pips, and fixed-spread account at 1.5 pips, provide flexibility based on trader preferences. HYCM's cost-effective pricing strategy grants it a higher 4.5-star rating, placing it at #15 in the rankings for Commissions and Fees, further highlighting its appeal to forex traders.
Both brokers provide desirable features for forex traders, with Charles Schwab standing out for its platform accessibility and HYCM for its attractive pricing options. Depending on a trader's priorities – whether it's lower entry barriers or cost efficiency – both options hold distinct benefits in terms of commissions and fees.
| Feature |
Charles Schwab
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Minimum Deposit | $0 | $20 |
| Average Spread EUR/USD - Standard | 1.35 | 1.2 |
| All-in Cost EUR/USD - Active | 1.35 | 0.6 |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the investment offerings of Charles Schwab and HYCM (Henyep Capital Markets), it's clear that both brokerages provide varied opportunities aimed at diverse investor needs. Charles Schwab boasts an impressive selection with a total of 40,000 tradeable symbols, including 73 forex pairs. This expansive portfolio caters to both U.S. and international markets, allowing clients to invest in securities such as Apple on the NASDAQ and Vodafone on the London Stock Exchange. While Charles Schwab does not offer copy trading or the ability to purchase actual cryptocurrencies, it does provide access to cryptocurrency derivatives for those interested in this asset class.
HYCM, on the other hand, offers 1,199 tradeable symbols, including 70 forex pairs, which allows for significant diversity in trading strategies. Like Charles Schwab, HYCM grants access to both U.S. and international exchange-traded securities, enabling clients to invest in major companies worldwide. Although HYCM doesn't facilitate copy trading or actual cryptocurrency purchases, it also allows trading in cryptocurrency derivatives. With these offerings, HYCM is rated with four stars for its range of investments and ranks #33 out of 62 brokers in the same category on ForexBrokers.com, compared to Charles Schwab's five-star rating and #5 rank.
| Feature |
Charles Schwab
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 1199 |
| Forex Pairs (Total) | 73 | 70 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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.
Charles Schwab and HYCM (Henyep Capital Markets) both offer comprehensive trading platforms, each with unique features to suit different trading preferences. Charles Schwab provides a user-friendly experience with simulated trading using its proprietary platforms, which include a Windows-based desktop option and a web-based platform. Despite not offering features like MetaTrader 4 or 5 and copy trading, Schwab excels with a significant 5-star rating for its trading platforms and tools. Stand-out features include the ability to trade directly from stock charts and an extensive array of 24 drawing tools for charting needs. Moreover, Schwab offers an impressive 580 fields for watch lists, making it an incredibly detailed and customized platform for traders.
In comparison, HYCM also delivers a solid trading environment with its proprietary platforms available for both Windows-based and web-based users. Like Schwab, HYCM offers demo accounts, facilitating paper trading for both novice and experienced traders alike. However, HYCM stands out for providing MetaTrader 4 and MetaTrader 5 options, catering specifically to traders who favor these popular third-party trading platforms. Although it doesn’t support copy trading or additional services like ZuluTrade or DupliTrade, HYCM still maintains a strong presence with 4-star rated trading platforms. While their watch list customization is more limited with just 7 fields, HYCM continues to be a reliable broker, ranked #40 by ForexBrokers.com, which reflects a competitive edge in the industry.
| Feature |
Charles Schwab
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 374 | 30 |
| Charting - Drawing Tools (Total) | 24 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Charles Schwab and HYCM provide traders with mobile apps on iPhone and Android platforms, catering to stock and forex enthusiasts on the go. If you thrive on having market updates at your fingertips, you'll be pleased to know that both apps offer price alerts and let you create watchlists with real-time quotes. However, Charles Schwab stands out with the ability to sync watchlists between its mobile app and online account—a feature that HYCM currently lacks. When it comes to charting, Charles Schwab has a significant edge, offering an impressive 374 technical studies compared to HYCM's 30. Both apps, however, support drawing trendlines on charts and allow viewing multiple time frames like daily or intraday, with the convenience of auto-saving any chart details.
For those who value highest user ratings and industry recognition, Charles Schwab is more favorable, holding a 5-star rating for its mobile trading app and ranking 6th out of 62 brokers on ForexBrokers.com. In contrast, HYCM boasts a respectable 4-star rating but is positioned at 37th. Whether you are seeking an app that excels in comprehensive charting capabilities and real-time syncing or one that offers a straightforward trading experience, these insights can help you choose between Charles Schwab and HYCM for your mobile trading needs.
| Feature |
Charles Schwab
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 374 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both Charles Schwab and HYCM offer daily market commentary and provide forex news from top-tier sources like Bloomberg and Reuters, ensuring investors stay informed on recent market trends. Both brokers also feature an economic calendar to track global economic events. Where the two differ is in their additional research tools: HYCM provides technical analysis tools from Trading Central, which may appeal to traders seeking advanced analytical insights. However, neither broker offers tools from Autochartist or Acuity Trading, nor do they provide market research from TipRanks or sentiment-based trading tools.
In terms of research ratings, Charles Schwab excels with a perfect 5-star rating, standing out with its #4 ranking out of 62 brokers according to ForexBrokers.com. On the other hand, HYCM holds a 3.5-star rating and is ranked #35. This suggests that while both brokers cover essential research needs, Charles Schwab is highly regarded for its comprehensive research offerings, making it a preferred choice for traders who prioritize extensive research capabilities.
| Feature |
Charles Schwab
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources offered by Charles Schwab and HYCM, beginners have a wealth of knowledge to explore. Both platforms provide over ten educational pieces focused on forex and CFDs, making it easy for newcomers to grasp these concepts. Charles Schwab distinguishes itself by hosting monthly online webinars and archiving these sessions for later access, a feature not available with HYCM. Both platforms do well in offering a range of beginner-friendly videos, but Charles Schwab also extends its video library to advanced topics, a step further than HYCM.
In terms of educational depth, Charles Schwab and HYCM offer dictionaries with over 50 investing terms, proving beneficial for those new to trading jargon. Despite these similarities, Charles Schwab excels with a higher education rating of 5 stars compared to HYCM’s 3.5 stars. Ranked as the sixth best out of 62 brokers in ForexBrokers.com's education category, Charles Schwab offers a comprehensive educational package for traders at all experience levels. Conversely, HYCM holds the 32nd spot, making it a suitable choice, though not as highly rated for educational resources as Charles Schwab.
| Feature |
Charles Schwab
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Charles Schwab is better than HYCM (Henyep Capital Markets). Charles Schwab finished with an overall rank of #6, while HYCM (Henyep Capital Markets) finished with an overall rank of #29.
Charles Schwab is a highly trusted financial institution and multi-asset broker catering to U.S.-based and international forex traders. Schwab's award-winning thinkorswim platform offers over 70 tradeable currency pairs alongside impressive tools, research, and education. That said, the broker’s forex offering is still largely limited to what is available on thinkorswim.
| Feature |
Charles Schwab
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HYCM (Henyep Capital Markets)
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| Trust Score | 99 | 86 |
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In comparing online brokers Charles Schwab and HYCM (Henyep Capital Markets), neither offers the ability to purchase actual (delivered) cryptocurrencies, but both provide options for buying cryptocurrency derivatives.
When comparing the online brokers Charles Schwab and HYCM, Charles Schwab accommodates ACH and SEPA transfers, as well as bank wires for fund transactions, while HYCM supports Skrill, Visa, Mastercard, and bank wires, but does not offer ACH or SEPA transfers; neither platform accepts PayPal for deposits or withdrawals.
Please 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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0 of 5| Overall Rating | Charles Schwab | HYCM (Henyep Capital Markets) | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | HYCM (Henyep Capital Markets) Review |
| Broker Screenshots | Charles Schwab | HYCM (Henyep Capital Markets) | |
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| Regulation | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Trust Score | 99 | 86 | |
| Year Founded | 1971 | 1977 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 5 | 2 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | Yes | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No |
| Tier-2 Licenses (Trusted) | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 1199 | |
| Forex Pairs (Total) | 73 | 70 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | 1.2 | |
| All-in Cost EUR/USD - Active | 1.35 | 0.6 | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Minimum Deposit | $0 | $20 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 7 | |
| Charting - Indicators / Studies (Total) | 374 | 30 | |
| Charting - Drawing Tools (Total) | 24 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 374 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Charles Schwab | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | Charles Schwab Review | HYCM (Henyep Capital Markets) Review |
| Overall | Charles Schwab | HYCM (Henyep Capital Markets) | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | HYCM (Henyep Capital Markets) Review |
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