Written by ForexBrokers.com
In this head to head comparison of HYCM (Henyep Capital Markets) vs IronFX, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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HYCM (Henyep Capital Markets) and IronFX are well-established players in the online brokerage scene, with HYCM in operation since 1977 and IronFX since 2010. Both firms are privately owned and are not listed on any stock exchanges. Additionally, neither of them is a bank. When it comes to regulatory credentials, HYCM holds two Tier-1 licenses and one Tier-2 license, whereas IronFX holds three Tier-1 licenses and no Tier-2 licenses, indicating both have a significant level of oversight, though through slightly different regulatory frameworks.
According to ForexBrokers.com, HYCM boasts a Trust Score of 86, classifying it as a trusted brokerage, while IronFX holds a Trust Score of 83, placing it in the same trusted category. These scores suggest a reliable level of trustworthiness and risk management, though potential clients might consider the difference in the number and types of licenses each broker holds as part of their decision-making process. Whether prioritizing years in operation or the number of top-tier regulatory licenses, both brokers offer attributes that cater to various trader preferences and needs.
| Feature |
HYCM (Henyep Capital Markets)
|
IronFX
|
|---|---|---|
| Year Founded | 1977 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the commissions and fees of HYCM (Henyep Capital Markets) and IronFX, HYCM stands out with its competitive pricing in the Raw account, offering a total cost of around 0.6 pips for the EUR/USD, inclusive of the commission. Alternatively, HYCM's Classic account starts with a higher variable spread from 1.2 pips, and there’s a fixed-spread account option at 1.5 pips. In terms of rating, HYCM earns an impressive 4.5 out of 5 stars, placing it at 15th position among 62 brokers in the Commissions and Fees category according to ForexBrokers.com.
IronFX, on the other hand, shows potential for improvement in its pricing structure. The typical spread for its Standard variable spread account is listed at 1.8 pips, but it's noted that spreads can vary significantly with the type of account. For instance, the zero fixed-spread account starts at zero pips but involves a $18 per lot commission and widens to 3 pips overnight. IronFX garners a rating of 4 out of 5 stars and is ranked at 47th place among 62 brokers for commissions and fees, indicating it might not be as cost-effective as some of its competitors.
| Feature |
HYCM (Henyep Capital Markets)
|
IronFX
|
|---|---|---|
| Minimum Deposit | $20 | $50 |
| Average Spread EUR/USD - Standard | 1.2 | 1.2 |
| All-in Cost EUR/USD - Active | 0.6 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | 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.
When comparing online brokers HYCM and IronFX, there are noticeable differences in their range of investments. HYCM offers an impressive selection with 1,199 tradeable symbols, while IronFX provides 340. Forex enthusiasts will find HYCM offering 70 forex pairs and IronFX slightly ahead with 83. A key point of distinction lies in the availability of exchange-traded securities; HYCM clients can invest directly in U.S. and international stocks like Apple and Vodafone, an option not available with IronFX. Both brokers accommodate forex trading and offer cryptocurrency derivatives but do not provide the purchase of actual cryptocurrencies.
While HYCM does not support copy trading, IronFX embraces this feature, potentially appealing to investors looking for strategy-sharing opportunities. Overall, HYCM's range of investments earns it a 4-star rating compared to IronFX's 3.5 stars. This broader investment spectrum is reflected in their respective standings; HYCM ranks 33rd out of 62 brokers in the Range of Investments category by ForexBrokers.com, while IronFX places at 51st. These differences could play a significant role in choosing a broker, depending on an investor's specific preferences and trading goals.
| Feature |
HYCM (Henyep Capital Markets)
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1199 | 340 |
| Forex Pairs (Total) | 70 | 83 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| 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 offered by HYCM (Henyep Capital Markets) and IronFX, there are some notable differences and similarities. Both brokers provide simulated trading through free virtual demo accounts, allowing users to practice without financial risk. HYCM offers a proprietary trading platform developed in-house, while IronFX relies on other well-known platforms. Additionally, both brokers support Windows-based desktop and web-based trading platforms, but only HYCM provides access to both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while IronFX only offers MT4. Importantly, IronFX includes copy trading features, which HYCM does not.
Both brokers enable trading directly from stock charts and offer a range of technical indicators and drawing tools, with each providing 15 drawing tools. Trader watch lists can have up to seven columns, offering similar customization between the two. In overall ratings for trading platforms and tools, HYCM garners 4 stars, slightly edging out IronFX's 3.5 stars. When ranked by ForexBrokers.com in the Trading Platforms and Tools category, HYCM is positioned at #40 out of 62 brokers, while IronFX is ranked at #60, indicating a wider industry preference for HYCM in this area.
| Feature |
HYCM (Henyep Capital Markets)
|
IronFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | 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.
When comparing the mobile trading apps of HYCM (Henyep Capital Markets) and IronFX, both brokers offer iPhone and Android apps. They provide features like stock or forex price alerts and the ability to draw trendlines on charts, which enhance users' trading experience. Both platforms also allow users to view multiple time frames and auto-save their chart drawings. Although neither of the apps supports watchlist symbol syncing, users can create watchlists with real-time quotes on both apps. In terms of technical charting tools, each app boasts 30 technical studies, giving traders plenty of insights at their fingertips.
The differences between these two apps become more evident when we look at user ratings and rankings. HYCM stands slightly ahead with a 4-star user rating, while IronFX is rated at 3.5 stars. Additionally, HYCM is ranked 37th out of 62 brokers for their mobile trading app according to ForexBrokers.com, whereas IronFX sits at the 61st position. These distinctions suggest that while both apps are capable in terms of features, HYCM might offer a slightly more appealing mobile trading experience for users.
| Feature |
HYCM (Henyep Capital Markets)
|
IronFX
|
|---|---|---|
| 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.
When it comes to daily market insights, both HYCM (Henyep Capital Markets) and IronFX deliver valuable commentary to keep traders informed. Their offerings include forex news sourced from top-tier outlets like Bloomberg and Reuters, ensuring that users receive high-quality information. Both brokers also integrate with Trading Central, a company known for providing detailed technical analysis tools. Despite having these resources, neither HYCM nor IronFX features tools from Autochartist or Acuity Trading for further analysis, nor do they offer sentiment-based trading indicators or market research from TipRanks.
Both HYCM and IronFX provide economic calendars, highlighting significant global news events that can influence trading. When looking at user feedback and expert reviews, IronFX leads slightly in research services, earning a rating of 4 stars out of 5 compared to HYCM's 3.5 stars. Furthermore, IronFX is positioned higher in the research rankings by ForexBrokers.com, coming in at 28th place among 62 brokers, while HYCM ranks 35th. These distinctions may guide traders in choosing a broker based on their market research needs, with IronFX holding a marginal advantage in this area.
| Feature |
HYCM (Henyep Capital Markets)
|
IronFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | 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 available for beginners at HYCM and IronFX, both brokers offer a solid foundation with a range of resources designed to build trading knowledge. HYCM provides various educational materials such as articles, videos, and archived webinars, meeting the standard of at least ten educational pieces focused on forex or CFDs. Similarly, IronFX matches this offering, supplying its users with a comparable range of learning materials. However, both brokers fall short in offering monthly online educational client webinars. Fortunately, both HYCM and IronFX have searchable archives of recorded webinars, allowing learners to revisit past sessions at their convenience.
For those just starting their trading journey, HYCM and IronFX offer at least ten beginner-focused educational videos, enabling novices to build a solid foundation in trading basics. Although neither broker provides an extensive library of advanced videos for seasoned traders, both make up for this with comprehensive investor dictionaries that define over 50 investing terms. Despite HYCM being rated 3.5 stars out of 5 for education and IronFX slightly higher at 4 stars, HYCM holds a higher rank in the ForexBrokers.com education category, positioned at #32 compared to IronFX's rank of #44. This indicates a nuanced evaluation, suggesting potential differences in other educational aspects not covered by these ratings. Overall, both platforms offer valuable resources for new traders, with distinct strengths and areas for improvement.
| Feature |
HYCM (Henyep Capital Markets)
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | 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 HYCM (Henyep Capital Markets) is better than IronFX. HYCM (Henyep Capital Markets) finished with an overall rank of #29, while IronFX finished with an overall rank of #48.
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)
|
IronFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 83 |
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Both HYCM (Henyep Capital Markets) and IronFX do not provide the option to purchase actual (delivered) cryptocurrency, but they do offer the ability to trade cryptocurrency derivatives.
Both HYCM (Henyep Capital Markets) and IronFX support Skrill, Visa or Mastercard, and bank wires for deposits and withdrawals, but neither offers ACH, SEPA, or PayPal as transaction options.
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) | IronFX | |
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| Trust Score | 86 | 83 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review |
| Broker Screenshots | HYCM (Henyep Capital Markets) | IronFX | |
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| Regulation | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| Trust Score | 86 | 83 | |
| Year Founded | 1977 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 3 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| 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) | IronFX | |
|---|---|---|---|
| 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) | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1199 | 340 | |
| Forex Pairs (Total) | 70 | 83 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| 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) | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.6 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| Minimum Deposit | $20 | $50 | |
| PayPal (Deposit/Withdraw) | No | 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 | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| 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 | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| 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 | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | HYCM (Henyep Capital Markets) | IronFX | |
|---|---|---|---|
| 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) | IronFX | |
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| Trust Score | 86 | 83 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review |
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