Written by ForexBrokers.com
In this head to head comparison of HYCM (Henyep Capital Markets) vs LegacyFX, 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) boasts a long-standing presence in the financial market, offering a well-regulated trading environment for its users. With two Tier-1 licenses and a Tier-2 license, it is clear that HYCM emphasizes regulatory compliance, as reflected in its Trust Score of 86 out of 99 from ForexBrokers.com. Although it is not publicly traded or classified as a bank, HYCM is regarded as a trusted online broker thanks to its established regulatory framework.
LegacyFX, established in 2012, has carved out its niche in the online trading space but presents a different regulatory landscape. With a Trust Score of 67 from ForexBrokers.com, this broker holds one Tier-1 license, signaling its high-risk status. Like HYCM, LegacyFX is neither publicly traded nor a banking institution. While both brokers are subject to regulatory oversight, HYCM stands out with a more robust regulatory backing, potentially offering traders a greater sense of security.
| Feature |
HYCM (Henyep Capital Markets)
|
LegacyFX
|
|---|---|---|
| Year Founded | 1977 | 2012 |
| Publicly Traded (Listed) | ||
| Bank | ||
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the online broker HYCM (Henyep Capital Markets) to LegacyFX, the differences in their commissions and fees become evident. HYCM's Raw account stands out with its competitive pricing of approximately 0.6 pips for the EUR/USD pair, including commissions. Meanwhile, its Classic account features a variable spread starting at 1.2 pips. Additionally, HYCM offers a fixed-spread account with a 1.5 pips spread. Notably, HYCM achieves a 4.5-star rating for commissions and fees and ranks #15 out of 63 brokers, highlighting its appeal to cost-conscious traders.
LegacyFX presents a more complex fee structure depending on the entity you choose. In the EU, three account types are available—Silver, Gold, and Platinum—with minimum deposits of $500, $5,000, and $25,000, respectively. Platinum account holders enjoy the lowest spreads, while Silver account holders face higher trading costs with spreads starting at a minimum of 1.6 pips for EUR/USD trades. For international clients under its Vanuatu entity, LegacyFX offers seven account types, influencing client support and tool access. However, the lack of average spread data makes it difficult to gauge the full trading costs, which reflects in its 3.5-star rating and #57 ranking out of 63 brokers.
Ultimately, HYCM appears to offer more transparent and competitive pricing across its accounts relative to LegacyFX. The higher star rating and better ranking further support HYCM's reputation as a cost-effective choice for traders. In contrast, LegacyFX's varying account options and associated costs may require a deeper evaluation to determine the best fit for individual trading needs.
| Feature |
HYCM (Henyep Capital Markets)
|
LegacyFX
|
|---|---|---|
| Minimum Deposit | $20 | $500 |
| 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 | Yes |
| ACH or SEPA Transfers | ||
| PayPal (Deposit/Withdraw) | ||
| 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 it comes to trading opportunities, HYCM (Henyep Capital Markets) offers an extensive selection with 1,199 tradeable symbols including 70 forex pairs. This gives investors a wide array of options to diversify their portfolios. HYCM also provides access to exchange-traded securities on both U.S. and international markets, allowing clients to invest directly in prominent companies like Apple or Vodafone. Additionally, for those interested in digital assets, HYCM features cryptocurrency derivatives, making it a versatile choice for diverse investment needs. Rated at 4 stars for its range of offerings, HYCM ranks #33 out of 63 brokers according to ForexBrokers.com.
LegacyFX, on the other hand, showcases 425 tradeable symbols, including 44 forex pairs, providing a reasonable selection for traders. Although it does not offer direct purchase of exchange-traded securities on U.S. or international exchanges, LegacyFX includes both CFD and spot contract options for forex trading and provides access to cryptocurrency derivatives. An attractive feature for some traders is its offering of copy trading, which allows users to replicate the investment strategies of more experienced investors. LegacyFX holds a 3.5-star rating for its investment range and ranks #48 in the ForexBrokers.com's assessment, showing it as a solid but more limited option compared to HYCM.
| Feature |
HYCM (Henyep Capital Markets)
|
LegacyFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1199 | 425 |
| Forex Pairs (Total) | 70 | 44 |
| U.S. Stock Trading (Non CFD) | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | |
| Social Trading / Copy Trading | Yes | |
| Cryptocurrency (Physical) | ||
| 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 LegacyFX, both brokers offer features that cater to different trader preferences. HYCM supports a proprietary platform, alongside popular options like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), ensuring flexibility in trading strategies. In contrast, LegacyFX doesn’t support a proprietary platform or MT4 but does accommodate MetaTrader 5 (MT5) and offers unique functionalities such as copy trading. Both brokers provide web-based platforms and Windows desktop downloads, giving users the freedom to trade with ease across devices. Additionally, each broker offers a free virtual demo account for beginners to practice without risk.
Charting tools are well-equipped at both HYCM and LegacyFX, each providing 15 drawing tools and the capability to execute trades directly from stock charts. However, watch lists can be customized with 7 columns at both brokers, aiding in effective trade monitoring. Despite these similarities, HYCM edges out LegacyFX in the ratings with a 4-star ranking for its trading platforms and tools, compared to LegacyFX's 3.5 stars. Furthermore, HYCM is placed higher in the ForexBrokers.com ranking at #40, compared to LegacyFX, which is ranked at #60 out of 63 brokers, indicating a more favorable evaluation of HYCM’s trading resources.
| Feature |
HYCM (Henyep Capital Markets)
|
LegacyFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | |
| MetaTrader 4 (MT4) | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | ||
| ZuluTrade | ||
| 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 and LegacyFX, both brokers offer compatibility with iPhone and Android devices, ensuring that traders can access their accounts on the go. Users can benefit from receiving stock and forex price alerts on both platforms. Additionally, each app provides 30 technical studies for charting, the ability to draw trendlines, view multiple time frames, and autosave chart drawings, offering a comprehensive analysis toolset. Traders can also create watchlists with real-time quotes on both platforms, but neither offers watchlist symbol syncing between mobile and online accounts.
Despite these similarities, there are some standout differences. HYCM earns a slightly higher user rating of 4 stars compared to 3.5 stars for LegacyFX. Furthermore, HYCM ranks higher for mobile trading apps, sitting at position 37 out of 63 brokers, while LegacyFX holds the 61st spot according to ForexBrokers.com. These differences highlight HYCM as a slightly more favorable option for traders seeking a reliable mobile trading app experience.
| Feature |
HYCM (Henyep Capital Markets)
|
LegacyFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | ||
| 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 comparing the market research offerings of HYCM and LegacyFX, both brokers provide daily market commentary to keep traders informed. Additionally, each of them offers forex news from respected sources such as Bloomberg and Reuters, empowering traders with up-to-date information. However, the two differ when it comes to analytical tools; LegacyFX partners with Autochartist, providing valuable technical analysis tools, while HYCM collaborates with Trading Central, offering advanced analytics to its users.
Both HYCM and LegacyFX offer an economic calendar that keeps traders aware of significant global economic events. Despite these similarities, neither broker provides sentiment-based trading tools or insights from TipRanks and Acuity Trading. In terms of ratings, both brokers received a score of 3.5 stars for research from ForexBrokers.com. However, HYCM is ranked 35th while LegacyFX is ranked 46th among 63 brokers in the research category, reflecting differences in their overall contribution to market research.
| Feature |
HYCM (Henyep Capital Markets)
|
LegacyFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | |
| Trading Central (Recognia) | Yes | |
| Social Sentiment - Currency Pairs | ||
| TipRanks | ||
| Signal Centre (Acuity Trading) | ||
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Choosing the right broker can be challenging, especially for beginner traders eager to learn. When comparing the educational offerings of HYCM and LegacyFX, both platforms provide a wealth of resources to get you started. HYCM and LegacyFX each offer more than ten educational materials, like articles and videos, on forex and CFDs. They both boast searchable archives of previously recorded webinars, ensuring that learning doesn't stop when the live session ends. For newcomers, both brokers provide over ten elementary educational videos that cover the basics of trading, making them excellent choices for those just starting out.
However, there are some differences in what these brokers offer to novice and advanced traders. LegacyFX holds an edge by providing online educational webinars each month and by offering an array of more than ten advanced trading videos for seasoned investors. In contrast, HYCM does not meet these specific criteria but does provide a hefty investor dictionary featuring over 50 investment terms, a feature LegacyFX also offers. Despite these disparities, both brokers are fairly evenly matched, each earning a 3.5-star rating for education. HYCM edges slightly ahead in the rankings at number 32, while LegacyFX follows closely at number 35 out of 63 brokers, reflecting their similar competencies in providing educational content.
| Feature |
HYCM (Henyep Capital Markets)
|
LegacyFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that HYCM (Henyep Capital Markets) is better than LegacyFX. HYCM (Henyep Capital Markets) finished with an overall rank of #29, while LegacyFX finished with an overall rank of #63.
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)
|
LegacyFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 67 |
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While both HYCM (Henyep Capital Markets) and LegacyFX offer the ability to trade cryptocurrency derivatives, neither provides the option to purchase actual delivered cryptocurrencies.
When comparing the online brokers HYCM and LegacyFX, both provide deposit and withdrawal options via Skrill, Visa, Mastercard, and bank wires, though neither offers ACH, SEPA, or PayPal services for account transactions, highlighting different approaches to fund accessibility and convenience for traders.
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) | LegacyFX | |
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| Trust Score | 86 | 67 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review | LegacyFX Review |
| Broker Screenshots | HYCM (Henyep Capital Markets) | LegacyFX | |
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| Regulation | HYCM (Henyep Capital Markets) | LegacyFX | |
|---|---|---|---|
| Trust Score | 86 | 67 | |
| Year Founded | 1977 | 2012 | |
| Publicly Traded (Listed) | |||
| Bank | |||
| Regulated in one or more EU or EEA countries (MiFID). | 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) | LegacyFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | |||
| Canada (CIRO Authorised) | |||
| Hong Kong (SFC Authorised) | Yes | ||
| Japan (SFC Authorised) | |||
| Singapore (MAS Authorised) | |||
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | ||
| USA (CFTC Authorized) | |||
| New Zealand (FMA Authorised) | |||
| Regulated in one or more EU or EEA countries (MiFID). | Yes |
| Tier-2 Licenses (Trusted) | HYCM (Henyep Capital Markets) | LegacyFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | |||
| South Africa (FSCA Authorised) | |||
| UAE (DFSA/Central Bank Authorised) | Yes | ||
| India (SEBI Authorised) | |||
| Jordan (JSC Authorised) |
| Investments | HYCM (Henyep Capital Markets) | LegacyFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1199 | 425 | |
| Forex Pairs (Total) | 70 | 44 | |
| U.S. Stock Trading (Non CFD) | Yes | ||
| Int'l Stock Trading (Non CFD) | Yes | ||
| Social Trading / Copy Trading | Yes | ||
| Cryptocurrency (Physical) | |||
| 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) | LegacyFX | |
|---|---|---|---|
| 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 | Yes | |
| Inactivity Fee | |||
| Execution: Agency Broker | Yes | ||
| Execution: Market Maker | Yes | Yes |
| Funding | HYCM (Henyep Capital Markets) | LegacyFX | |
|---|---|---|---|
| Minimum Deposit | $20 | $500 | |
| PayPal (Deposit/Withdraw) | |||
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers |
| Trading Platforms | HYCM (Henyep Capital Markets) | LegacyFX | |
|---|---|---|---|
| Proprietary Platform | Yes | ||
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | ||
| MetaTrader 4 (MT4) | Yes | ||
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | |||
| DupliTrade | |||
| ZuluTrade |
| Trading Tools | HYCM (Henyep Capital Markets) | LegacyFX | |
|---|---|---|---|
| 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) | LegacyFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | |||
| 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) | LegacyFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | ||
| Trading Central (Recognia) | Yes | ||
| TipRanks | |||
| Social Sentiment - Currency Pairs | |||
| Economic Calendar | Yes | Yes |
| Education | HYCM (Henyep Capital Markets) | LegacyFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | ||
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | ||
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | HYCM (Henyep Capital Markets) | LegacyFX | |
|---|---|---|---|
| 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 | LegacyFX Review |
| Overall | HYCM (Henyep Capital Markets) | LegacyFX | |
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| Trust Score | 86 | 67 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review | LegacyFX Review |
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