Written by ForexBrokers.com
In this head to head comparison of HYCM (Henyep Capital Markets) vs MultiBank, 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.
HYCM (Henyep Capital Markets), established in 1977, and MultiBank, founded in 2005, are both noteworthy players in the online brokerage industry but neither is publicly traded or operates as a bank. When it comes to regulatory licenses, HYCM holds two Tier-1 licenses, which are highly trusted, and one Tier-2 license, indicating a strong footing in regulatory adherence. MultiBank, on the other hand, holds three Tier-1 licenses and one Tier-2 license, showcasing a slight edge in top-tier regulatory recognition.
In terms of trustworthiness as rated by ForexBrokers.com, HYCM boasts a Trust Score of 86, placing it in the trusted category. Similarly, MultiBank holds a Trust Score of 84, also classified as trusted. Both brokers exhibit a solid commitment to meeting high regulatory standards, making them reliable choices for traders looking to navigate the financial markets confidently.
| Feature |
HYCM (Henyep Capital Markets)
|
MultiBank
|
|---|---|---|
| Year Founded | 1977 | 2005 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 3 |
HYCM, also known as Henyep Capital Markets, stands out for its forex trading account options, particularly the Raw account with competitive pricing. Traders can expect an all-in cost of approximately 0.6 pips for EUR/USD, which includes the commission. For those opting for the Classic account, the variable spread begins at 1.2 pips. An alternative is the fixed-spread account, which offers a spread of 1.5 pips. HYCM is highly acclaimed, achieving a 4.5-star rating and ranking 15th out of 62 brokers in the Commissions and Fees category by ForexBrokers.com.
MultiBank provides three distinct account types for forex and CFD trading: Standard, Pro, and ECN. The Standard account, suitable for beginners, requires a minimum deposit of only $50 but comes with relatively higher spreads. The Pro account reduces spreads compared to the Standard account but necessitates a $1,000 minimum deposit. MultiBank’s most competitive spreads are found within the ECN account, demanding a $10,000 minimum deposit and incurring a nominal round-trip commission of $3 per trade. However, potential users should be mindful of a $60 monthly inactivity fee if the account remains dormant for 90 days.
In terms of broker ratings, MultiBank receives a respectable 4-star rating for commissions and fees, and secures the 37th position among 62 brokers, according to ForexBrokers.com. While both brokers offer varied pricing structures, HYCM's offerings, alongside its higher ranking and rating, might appeal to traders seeking cost-effective trading solutions.
| Feature |
HYCM (Henyep Capital Markets)
|
MultiBank
|
|---|---|---|
| Minimum Deposit | $20 | $50 |
| 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 | Yes |
| 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 the range of investments between HYCM and MultiBank, it's clear that both brokers offer extensive opportunities for traders, albeit with some differences. HYCM provides a wider selection of tradeable symbols with 1,199 options available compared to MultiBank's 1,042. In terms of forex trading, HYCM stands out with 70 tradeable forex pairs, whereas MultiBank offers 40 pairs. HYCM also offers the ability to trade exchange-traded securities on both U.S. and international exchanges, a feature not available with MultiBank.
On the other hand, MultiBank has advantages in the realm of cryptocurrency and social trading. It supports copy trading and allows the purchase of actual (delivered) cryptocurrency, unlike HYCM, which focuses on cryptocurrency derivatives. Despite these differences, both brokers receive a four-star rating for the range of investments by ForexBrokers.com. HYCM is ranked slightly higher at #33 out of 62 brokers, with MultiBank closely following at #37. Ultimately, the choice between the two will depend on specific investment goals and preferences.
| Feature |
HYCM (Henyep Capital Markets)
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1199 | 1042 |
| Forex Pairs (Total) | 70 | 40 |
| 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 | Yes |
| 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). |
Dive deeper: Best Copy Trading Platforms.
When comparing the trading platforms and tools offered by HYCM and MultiBank, both brokers cater to different types of traders with their feature-rich offerings. HYCM provides traders with a proprietary platform and full access to MetaTrader 4 and MetaTrader 5, ensuring versatility and choice. While both brokers offer a web-based trading platform, HYCM also provides a Windows-based desktop platform. However, HYCM does not support popular social trading platforms like ZuluTrade or DupliTrade and lacks copy trading functionality, unlike MultiBank. For those who appreciate demo accounts, both brokers offer free virtual accounts for practice trading, welcoming beginners to safely hone their skills.
MultiBank stands out by offering copy trading, adding a social trading aspect that many users appreciate. Like HYCM, MultiBank offers a proprietary platform alongside MetaTrader 4 and 5, and provides both a Windows-based desktop platform and a web-based option. Notably, MultiBank offers a slight edge in charting with 17 drawing tools compared to HYCM's 15, though both allow direct trading from stock charts and offer 7 columns for watch lists. Both brokers have earned a strong reputation, each securing a 4-star rating for their trading platforms, albeit with MultiBank ranked slightly higher at #39 compared to HYCM's #40 by ForexBrokers.com.
| Feature |
HYCM (Henyep Capital Markets)
|
MultiBank
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 38 |
| Charting - Drawing Tools (Total) | 15 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both HYCM (Henyep Capital Markets) and MultiBank offer convenient mobile trading solutions for iPhone and Android users. They provide essential features like stock and forex price alerts and the ability to draw trendlines on trading charts. Each platform offers thirty technical studies for chart analysis, and you can view multiple time frames such as daily, weekly, or intraday. Although neither app supports watchlist syncing across devices, they both allow traders to create watchlists with real-time quotes. Additionally, they come with an auto-save feature for drawings on charts, adding to the convenience of analyzing market trends.
Both trading apps are equally rated at 4 stars, signifying their reliable performance and user satisfaction. However, HYCM holds a slightly higher rank at #37 on ForexBrokers.com for Mobile Trading Apps, while MultiBank is positioned at #41 out of 62 brokers. This makes them comparable in features and usability, but HYCM might have a slight edge in terms of recognition within the trading community. Whether you choose HYCM or MultiBank, both platforms equip you with the tools needed for effective mobile trading.
| Feature |
HYCM (Henyep Capital Markets)
|
MultiBank
|
|---|---|---|
| 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 comparing HYCM (Henyep Capital Markets) and MultiBank in terms of market research, both brokers provide forex news from leading sources such as Bloomberg and Reuters, ensuring traders stay informed with reliable information. However, HYCM stands out with its offering of daily market commentary, a feature not available with MultiBank. Furthermore, HYCM clients benefit from technical analysis tools provided by Trading Central, whereas MultiBank does not offer these resources. Neither broker provides tools from Autochartist, sentiment-based trading tools, market research from TipRanks, or resources from Acuity Trading.
In terms of tracking economic data, both HYCM and MultiBank present users with an economic calendar to keep abreast of global financial events. Despite offering similar features in some areas, HYCM is ranked higher, at #35 out of 62 brokers in the Research category by ForexBrokers.com, while MultiBank trails at #49. Both brokers share a 3.5-star rating for research, but the individual offerings and rankings indicate that HYCM might have a slight edge for those seeking extensive market commentary and analytical tools.
| Feature |
HYCM (Henyep Capital Markets)
|
MultiBank
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| 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.
For beginners exploring online trading, both HYCM (Henyep Capital Markets) and MultiBank provide educational resources focused on forex and CFDs. Each broker offers a variety of learning materials including a collection of over 10 articles, videos, and archived webinars. HYCM stands out with a searchable archive of past webinars, which can be particularly beneficial for those who prefer structured learning sessions. Additionally, it provides a handy investor dictionary featuring over 50 trading terms, allowing newcomers to quickly understand key concepts. However, both brokers lack monthly educational webinars and in-depth video content for more advanced traders, which might limit the learning journey for more experienced users seeking to deepen their knowledge.
Despite offering similar beginner-oriented resources, HYCM and MultiBank differ in their education rankings. HYCM has a slight edge, being ranked 32nd out of 62 brokers on ForexBrokers.com, whereas MultiBank sits at the 50th position. Each broker maintains an identical education rating of 3.5 stars out of five. With their educational offerings, HYCM and MultiBank cater relatively well to beginners, yet for more seasoned traders or those seeking regular interactive learning opportunities, additional resources might be necessary.
| Feature |
HYCM (Henyep Capital Markets)
|
MultiBank
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| 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 MultiBank. HYCM (Henyep Capital Markets) finished with an overall rank of #29, while MultiBank finished with an overall rank of #40.
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)
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MultiBank
|
|---|---|---|
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| Trust Score | 86 | 84 |
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HYCM (Henyep Capital Markets) does not provide the option to buy actual (delivered) cryptocurrency and only offers cryptocurrency derivatives, whereas MultiBank allows clients to purchase both actual cryptocurrencies and their derivatives.
HYCM (Henyep Capital Markets) and MultiBank both support Visa, Mastercard, Skrill, and bank wire transactions for account funding and withdrawals, but only MultiBank offers ACH and SEPA transfer options, while neither broker supports PayPal.
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) | MultiBank | |
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| Trust Score | 86 | 84 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review | MultiBank Review |
| Broker Screenshots | HYCM (Henyep Capital Markets) | MultiBank | |
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| Regulation | HYCM (Henyep Capital Markets) | MultiBank | |
|---|---|---|---|
| Trust Score | 86 | 84 | |
| Year Founded | 1977 | 2005 | |
| 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 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 3 |
| Tier-1 Licenses (Highly Trusted) | HYCM (Henyep Capital Markets) | MultiBank | |
|---|---|---|---|
| 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 | Yes | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| 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) | MultiBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | HYCM (Henyep Capital Markets) | MultiBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1199 | 1042 | |
| Forex Pairs (Total) | 70 | 40 | |
| 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 | Yes | |
| 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). |
| Cost | HYCM (Henyep Capital Markets) | MultiBank | |
|---|---|---|---|
| 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 | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | HYCM (Henyep Capital Markets) | MultiBank | |
|---|---|---|---|
| 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 | Yes |
| Trading Platforms | HYCM (Henyep Capital Markets) | MultiBank | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | HYCM (Henyep Capital Markets) | MultiBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 38 | |
| Charting - Drawing Tools (Total) | 15 | 17 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | HYCM (Henyep Capital Markets) | MultiBank | |
|---|---|---|---|
| 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) | MultiBank | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | HYCM (Henyep Capital Markets) | MultiBank | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| 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) | MultiBank | |
|---|---|---|---|
| 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 | MultiBank Review |
| Overall | HYCM (Henyep Capital Markets) | MultiBank | |
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| Trust Score | 86 | 84 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review | MultiBank Review |
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