Written by ForexBrokers.com
In this head to head comparison of IC Markets 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.
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.
IC Markets and HYCM are both well-established online brokerage firms serving traders globally. IC Markets, founded in 2007, and HYCM, established in 1977, both hold 2 Tier-1 licenses, indicating a high level of trust according to ForexBrokers.com standards. Neither broker is publicly traded nor operates as a bank, maintaining their focus solely on brokerage services.
When comparing their trust ratings, IC Markets has a ForexBrokers.com Trust Score of 84, categorizing it as a trusted broker, whereas HYCM scores slightly higher with 86, signifying marginally stronger trust. HYCM also holds an additional Tier-2 license, further enhancing its credibility. Both firms strive to provide reliable trading environments, though HYCM edges out in terms of regulatory standing.
| Feature |
IC Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Year Founded | 2007 | 1977 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When it comes to commissions and fees, IC Markets stands out as a top choice for forex traders. With an impressive 5-star rating and a number 5 ranking out of 62 brokers according to ForexBrokers.com, IC Markets offers cost-effective trading options that compete with leading low-cost brokers like IG and CMC Markets. The broker provides various account types, including the commission-free Standard account and the commission-based Raw Spread and cTrader Raw Spread accounts. For those using the cTrader platform, the commissions are as low as $3 per side for every 100,000 units traded, making it a very attractive option for cost-conscious traders. The effective spreads are impressively low, with average costs for EUR/USD trades coming in at 0.62 pips on the cTrader account, demonstrating its competitive edge.
HYCM (Henyep Capital Markets) offers a slightly different fee structure but remains a strong contender with a 4.5-star rating and a 15th place ranking in the same category. The broker's Raw account provides competitive pricing, offering an all-in cost of approximately 0.6 pips for EUR/USD trades after commission. However, traders looking at the Classic account will face higher variable spreads starting from 1.2 pips. Additionally, HYCM provides a fixed-spread account at 1.5 pips, catering to traders who prefer more predictable trading costs. While not as highly ranked as IC Markets, HYCM still offers a good mix of account options to suit various trading styles and preferences.
Both IC Markets and HYCM present compelling choices for forex traders, with IC Markets leading in cost-efficiency and variety of account options and HYCM appealing to those who require a mix of flexible and fixed spreads. Ultimately, the decision between these two brokers will likely come down to personal trading strategies and whether ultra-low spreads or different account spreads align better with one’s trading goals.
| Feature |
IC Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Minimum Deposit | $200 | $20 |
| Average Spread EUR/USD - Standard | 0.62 | 1.2 |
| All-in Cost EUR/USD - Active | 0.62 | 0.6 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IC Markets and HYCM both cater to forex traders by offering forex trading as CFDs or spot contracts. IC Markets impresses with 3,583 tradeable symbols and offers 61 forex pairs. On the other hand, HYCM provides a more focused selection with 1,199 tradeable symbols but slightly surpasses IC Markets with 70 forex pairs. Both brokers provide access to international exchange-traded securities like Vodafone shares, however, HYCM stands out by allowing clients to trade U.S. exchange-listed stocks, such as Apple shares, which IC Markets does not offer. IC Markets supports copy trading for investors seeking to mirror the strategies of experienced traders, a feature that HYCM lacks. Both brokers provide cryptocurrency derivatives but do not allow clients to buy actual cryptocurrencies.
According to ratings and rankings from ForexBrokers.com, IC Markets scores 4.5 stars for its range of investments, placing it at #25 out of 62 brokers. Meanwhile, HYCM earns a solid 4-star rating, ranking #33 in the same category. This reflects that while both brokers offer comprehensive investment choices, IC Markets has a slightly broader range that may appeal to diverse trading preferences. Whether you prefer a wider array of symbols with IC Markets or the unique ability to trade U.S. stocks with HYCM, both platforms offer features that cater to different trading needs.
| Feature |
IC Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 1199 |
| Forex Pairs (Total) | 61 | 70 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | 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.
When comparing the trading platforms and tools available through IC Markets and HYCM, it's clear both brokers offer features aimed at enhancing traders' experiences. Both brokers provide simulated trading with a free virtual demo account, allowing beginners to practice without risk. IC Markets uses external trading platforms like MetaTrader 4 and 5, which are available on desktop and web-based platforms for Windows, while HYCM offers the added benefit of a proprietary platform developed in-house. Both brokers support trading from stock charts and have a similar level of functionality when it comes to charting tools, with 15 drawing tools each.
However, differences arise in copy trading capabilities and third-party integrations. IC Markets stands out by offering copy trading and compatibility with ZuluTrade, while HYCM does not support these features. This may appeal to traders seeking to replicate the strategies of successful traders. Despite these differences, both brokers receive a four-star rating for their trading platforms and tools, reflecting their robust offerings. Yet IC Markets holds a higher industry ranking, positioned at #17 compared to HYCM's #40 out of 62 brokers, potentially indicating a stronger user preference or more comprehensive toolset.
| Feature |
IC Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IC Markets and HYCM both provide comprehensive mobile trading apps for iOS and Android devices. Each allows users to receive stock and forex price alerts, create watchlists with real-time quotes, and draw trendlines on charts. You can easily view charts in multiple time frames, such as daily or weekly, and any chart drawings are automatically saved in both apps. Watchlist symbol syncing, however, is not available with either broker, meaning changes made on the mobile app do not sync with the online account.
In terms of charting tools, both apps offer 30 technical studies to assist with market analysis. The user ratings for both IC Markets and HYCM’s mobile apps are favorable, each securing a 4-star rating. However, their rankings differ on ForexBrokers.com, where IC Markets holds the 22nd position out of 62 brokers for mobile trading apps, while HYCM is ranked 37th. This suggests that while both apps are well-received, IC Markets may have a slight edge in usability or features according to industry experts.
| Feature |
IC Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 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.
IC Markets and HYCM both offer daily market commentary and access to forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones. They each provide clients with technical tools from Trading Central, ensuring traders have access to effective technical analysis resources. However, a key difference lies in the additional features provided; IC Markets stands out by offering tools from Autochartist and a sentiment-based trading tool, which allows users to view the ratio of long or short positions across various currency pairs. These features complement the standard offerings and can enhance trading strategies for those needing a deeper insight into market movements.
Both brokers provide economic calendars to help traders keep track of current and upcoming global news events. In terms of recognition and ratings, IC Markets scores better with a four-star rating compared to HYCM's 3.5 stars. Among 62 brokers reviewed by ForexBrokers.com, IC Markets is ranked 22nd, while HYCM falls behind at 35th. These distinctions highlight IC Markets as a slightly more comprehensive choice for those prioritizing in-depth market research tools, alongside daily commentary and news access, while HYCM offers a solid research foundation as well.
| Feature |
IC Markets
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | 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 for beginners offered by IC Markets and HYCM (Henyep Capital Markets), both brokers provide a solid foundation with at least ten educational pieces focusing on forex and CFDs, ensuring a comprehensive start for any novice trader. IC Markets goes a step further by hosting monthly online educational webinars, a feature missing from HYCM, promoting consistent learning opportunities. Both brokers maintain a searchable archive of these webinars, allowing clients to revisit valuable content at their convenience. Additionally, IC Markets excels with both beginner and advanced educational videos, while HYCM offers comprehensive beginner-focused content but falls short on advanced topics. Each offers an investor dictionary with over 50 terms to further aid in understanding trading concepts.
For those new to trading, IC Markets seems to offer a slightly more thorough educational experience. Rated 4 stars in the Education category by ForexBrokers.com, IC Markets stands out with its diverse content and structured opportunities for learning. It holds a respectable 16th place out of 62 brokers reviewed. Conversely, HYCM, while still commendable with a 3.5-star rating, ranks 32nd, reflecting its slightly more limited advanced educational resources. Both platforms are capable educational environments, but IC Markets offers a more rounded package for those looking to deepen their trading knowledge from beginner to more advanced levels.
| Feature |
IC Markets
|
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 IC Markets is better than HYCM (Henyep Capital Markets). IC Markets finished with an overall rank of #20, while HYCM (Henyep Capital Markets) finished with an overall rank of #29.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
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HYCM (Henyep Capital Markets)
|
|---|---|---|
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| Trust Score | 84 | 86 |
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Both IC Markets and HYCM (Henyep Capital Markets) do not provide the option to purchase actual cryptocurrencies, but they do offer the ability to trade cryptocurrency derivatives.
IC Markets and HYCM both support Skrill, Visa or Mastercard, and bank wire transfers for deposits and withdrawals, but only IC Markets offers PayPal as an option, while neither offers ACH or SEPA transfer services.
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 | IC Markets | HYCM (Henyep Capital Markets) | |
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| Trust Score | 84 | 86 | |
| Winner | check_circle | ||
| Review | IC Markets Review | HYCM (Henyep Capital Markets) Review |
| Broker Screenshots | IC Markets | HYCM (Henyep Capital Markets) | |
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| Regulation | IC Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Trust Score | 84 | 86 | |
| Year Founded | 2007 | 1977 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | Yes | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | IC Markets | 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 | IC Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 1199 | |
| Forex Pairs (Total) | 61 | 70 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | 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 | IC Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.62 | 0.6 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Minimum Deposit | $200 | $20 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | IC Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC Markets | 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 | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 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 | IC Markets | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | 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 | IC Markets | 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 | IC Markets Review | HYCM (Henyep Capital Markets) Review |
| Overall | IC Markets | HYCM (Henyep Capital Markets) | |
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| Trust Score | 84 | 86 | |
| Winner | check_circle | ||
| Review | IC Markets Review | HYCM (Henyep Capital Markets) Review |
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