Written by ForexBrokers.com
In this head to head comparison of HYCM (Henyep Capital Markets) vs iFOREX, 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.
Founded in 1977, HYCM (Henyep Capital Markets) is an experienced online broker that holds a solid standing in the trading community. With two Tier-1 licenses, HYCM demonstrates a strong level of trust and security. It is not publicly traded and is not a bank, but its regulatory credentials establish its reputation. HYCM carries a Trust Score rating of 86, placing it comfortably in the 'trusted' category. This reflects its reliable regulatory oversight and commitment to safeguarding investor interests over its many years of operation.
In comparison, iFOREX has been in the market since 1996 and maintains a stable position as a brokerage service provider, holding one Tier-1 license. Similar to HYCM, iFOREX is neither publicly traded nor a bank. However, it possesses a slightly lower Trust Score rating of 75, which is considered an average risk according to ForexBrokers.com. This difference in regulatory licenses and Trust Score indicates that while both brokers offer secure platforms, HYCM might provide a slightly higher degree of confidence for cautious investors seeking a trusted trading environment.
| Feature |
HYCM (Henyep Capital Markets)
|
iFOREX
|
|---|---|---|
| Year Founded | 1977 | 1996 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
HYCM (Henyep Capital Markets) and iFOREX are both online brokers, but they differ significantly in their commission and fee structures. HYCM offers a Raw account that is well-regarded for competitive pricing, with a cost of about 0.6 pips for trading EUR/USD, including commissions. Additionally, HYCM provides other account options such as a Classic account with a variable spread starting from 1.2 pips, and a fixed-spread account featuring a spread of 1.5 pips. On the other hand, iFOREX does not provide average spread data, making it less transparent in terms of overall trading costs.
When it comes to ratings and rankings, HYCM scores 4.5 out of 5 stars for its commissions and fees, reflecting its appealing pricing structure. It is ranked #15 out of 62 brokers by ForexBrokers.com in this category, indicating its strong competitive edge. In contrast, iFOREX receives a lower rating of 3 stars for its commissions and fees, largely due to the lack of transparent pricing information. Consequently, iFOREX stands at a lower rank of #60 among the same number of brokers according to ForexBrokers.com.
| Feature |
HYCM (Henyep Capital Markets)
|
iFOREX
|
|---|---|---|
| Minimum Deposit | $20 | $100 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.6 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing online brokers HYCM and iFOREX in terms of their investment offerings, investors will find significant differences in the range of options available. HYCM provides a broad selection with 1,199 tradeable symbols, which include 70 forex pairs. iFOREX, on the other hand, offers 750 tradeable symbols with a slightly higher total of 88 forex pairs. While both brokers cater to forex and cryptocurrency derivatives trading, only HYCM gives clients the ability to invest in actual exchange-traded securities from both U.S. and international marketplaces, like stocks from Apple and Vodafone. iFOREX does not offer this feature, focusing instead on CFDs. Neither broker supports copy trading or the purchase of actual cryptocurrencies.
Regarding quality, HYCM receives a higher rating of 4 stars for its range of investments, while iFOREX comes in with 3.5 stars. This reflects the rich diversity of HYCM's offerings compared to iFOREX. According to ForexBrokers.com, HYCM is ranked 33rd out of 62 brokers, slightly ahead of iFOREX, which holds the 41st position for investment variety. This suggests that traders seeking a wider variety of traditional stock options along with forex and cryptocurrency derivatives might find HYCM a more fitting choice.
| Feature |
HYCM (Henyep Capital Markets)
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1199 | 750 |
| Forex Pairs (Total) | 70 | 88 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| 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.
When comparing the trading platforms and tools of HYCM (Henyep Capital Markets) and iFOREX, there are notable differences and similarities. HYCM stands out by offering a virtual demo account, providing newcomers with an opportunity to practice trading without real financial risk—a feature not available with iFOREX. Both brokers have developed their own proprietary trading platforms, ensuring they have tailored solutions for their users. However, HYCM broadens its platform offerings by including both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are not available with iFOREX. Additionally, HYCM offers a Windows-based desktop trading platform, a benefit for traders who prefer not to depend solely on browser-based trading, which is the only option provided by iFOREX. Despite these differences, both brokers enable traders to execute trades directly from stock charts, enhancing user experience.
In terms of charting tools, iFOREX offers a slight advantage with 25 drawing tools compared to HYCM's 15. iFOREX also offers more customizable columns for watch lists, with nine columns, while HYCM offers seven. Despite these differences, both HYCM and iFOREX have received the same rating of four stars for their trading platforms and tools, which reflects their strengths and expertise in the sector. However, in terms of market recognition and rankings, ForexBrokers.com places HYCM at the 40th position out of 62 brokers, indicating a stronger reputation than iFOREX, which ranks at 54. This data suggests that while both brokers have solid offerings, HYCM provides a more comprehensive set of options for those seeking varied trading platform features.
| Feature |
HYCM (Henyep Capital Markets)
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 57 |
| Charting - Drawing Tools (Total) | 15 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both HYCM (Henyep Capital Markets) and iFOREX provide mobile trading apps for iPhone and Android users, ensuring access for traders on the go. However, when it comes to features, HYCM stands out by providing stock and forex price alerts, whereas iFOREX does not. Both brokers equally lack the feature of watchlist symbol syncing between their mobile apps and online accounts, which could be a consideration for those who like to manage their portfolios seamlessly across devices.
HYCM edges ahead in functionalities for those interested in technical analysis on mobile devices. It offers 30 technical studies, the ability to draw trendlines, and supports viewing multiple time frames such as daily, weekly, or intraday, all of which enhance the charting experience. These drawings are also auto-saved, adding convenience for users. In contrast, iFOREX does not provide these charting capabilities. Additionally, HYCM allows for the creation of watchlists with real-time quotes, a feature not offered by iFOREX. Despite these differences, both mobile trading apps are rated four stars, but HYCM is ranked higher at #37 compared to iFOREX's #55 according to ForexBrokers.com.
| Feature |
HYCM (Henyep Capital Markets)
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
HYCM (Henyep Capital Markets) and iFOREX both provide daily market commentary and maintain economic calendars that display global news events, ensuring traders have access to timely information. However, when it comes to providing forex news from prestigious sources such as Bloomberg and Reuters, HYCM takes the lead as iFOREX does not offer this feature. Both platforms utilize Trading Central for technical analysis tools, yet HYCM lacks a sentiment-based trading tool, an area where iFOREX excels by presenting position ratios across various instruments.
Though both brokers have a research rating of 3.5 stars, they differ in their overall rankings in the Research category according to ForexBrokers.com. HYCM holds a better position at 35th out of 62 brokers, as opposed to iFOREX, which is ranked 48th. Neither broker offers tools from Autochartist, Acuity Trading, or market insights from TipRanks, leaving a few areas for potential improvement in their market research offerings.
| Feature |
HYCM (Henyep Capital Markets)
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| 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 HYCM (Henyep Capital Markets) and iFOREX, HYCM stands out by providing a rich selection of learning materials. It offers a minimum of 10 pieces focused on forex and CFDs, bolstered by a searchable archive of recorded webinars for further learning. Additionally, HYCM caters to new traders with over 10 videos specifically designed for beginners and an investor dictionary with over 50 key investing terms. This commitment to education places them at a 3.5-star rating, according to expert evaluations, and a respectable rank of #32 out of 62 brokers for educational content.
On the other hand, iFOREX also presents more than 10 beginner-level video lessons, supporting those new to trading. However, it doesn't provide a comprehensive library of written and video content focusing on forex or CFDs specifically. Additionally, iFOREX lacks features such as a searchable archive of webinars and an investor dictionary, which are crucial for new investors seeking foundational knowledge. Consequently, while iFOREX also holds a 3.5-star rating for education, its limited resources have led to a lower ranking, placing it at #53 among 62 brokers reviewed for their educational offerings.
| Feature |
HYCM (Henyep Capital Markets)
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that HYCM (Henyep Capital Markets) is better than iFOREX. HYCM (Henyep Capital Markets) finished with an overall rank of #29, while iFOREX finished with an overall rank of #52.
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)
|
iFOREX
|
|---|---|---|
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| Trust Score | 86 | 75 |
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Both HYCM (Henyep Capital Markets) and iFOREX do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
Comparing online brokers HYCM (Henyep Capital Markets) and iFOREX reveals that while both brokers offer Skrill, Visa/Mastercard, and bank wire options for depositing or withdrawing funds, only iFOREX provides PayPal as a funding method, whereas neither offers ACH or SEPA transfers.
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 | HYCM (Henyep Capital Markets) | iFOREX | |
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| Trust Score | 86 | 75 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review |
| Broker Screenshots | HYCM (Henyep Capital Markets) | iFOREX | |
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| Regulation | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| Trust Score | 86 | 75 | |
| Year Founded | 1977 | 1996 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1199 | 750 | |
| Forex Pairs (Total) | 70 | 88 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| 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 | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.6 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $20 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| 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 | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 30 | 57 | |
| Charting - Drawing Tools (Total) | 15 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | HYCM (Henyep Capital Markets) | iFOREX | |
|---|---|---|---|
| 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 | HYCM (Henyep Capital Markets) Review |
| Overall | HYCM (Henyep Capital Markets) | iFOREX | |
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| Trust Score | 86 | 75 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review |
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