HYCM (Henyep Capital Markets) vs MultiBank 2024

HYCM is not publicly traded and does operate a bank. HYCM is authorised by three Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and one tier-4 regulator (High Risk). HYCM is authorised by the following Tier-1 regulators: the Securities Futures Commission (SFC), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system.

MultiBank Group is not publicly traded, does not operate a bank, and is authorised by three Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and three Tier-4 regulators (High Risk). MultiBank Group is authorised by the following Tier-1 regulators: the Australian Securities & Investment Commission (ASIC), Monetary Authority of Singapore (MAS, and regulated in the European Union via the MiFID passporting system.

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.

MultiBank Group, in operation since 2005, is home to numerous global brands and regulated in jurisdictions all over the world. A multi-asset broker, MultiBank offers forex and CFDs through the MetaTrader and cTrader platform suites (though not all markets are readily available) as well as underlying crypto assets via its regulated crypto exchange. On the negative side, the broker’s market research offering is unimpressive and educational content is entirely absent; MultiBank’s poor performance in these important categories drags down its Overall rating.

To open a trading account with HYCM (Henyep Capital Markets), you'll need to make an initial minimum deposit of $20.

MultiBank requires a minimum deposit of $50 before you can open an account and start trading.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Both HYCM (Henyep Capital Markets) and MultiBank offer Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw).

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that HYCM (Henyep Capital Markets) offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that MultiBank holds 3 global Tier-1 licenses, while HYCM (Henyep Capital Markets) holds 2. Both HYCM (Henyep Capital Markets) and MultiBank hold 1 global Tier-2 licenses.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that HYCM (Henyep Capital Markets) (86) earned a higher Trust Score than MultiBank (84).

To compare the trading platforms of both HYCM (Henyep Capital Markets) and MultiBank, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, MultiBank offers a better experience. With research, HYCM (Henyep Capital Markets) offers superior market research. Finally, we found HYCM (Henyep Capital Markets) to provide better mobile trading apps.

Here’s what trading platforms are available at HYCM (Henyep Capital Markets):

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - No
• TradingView - No

Here’s what trading platforms are available at MultiBank:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - No
• TradingView - No

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Both HYCM (Henyep Capital Markets) and MultiBank offer MetaTrader 4 (MT4). Forex traders also appreciate the ability to engage in social copy trading. While MultiBank offers copy trading, HYCM (Henyep Capital Markets) does not.

HYCM (Henyep Capital Markets) provides traders 70 currency pairs (e.g., EUR/USD) compared to MultiBank's 40 available pairs. If you are interested in trading a full range of securities, HYCM (Henyep Capital Markets) offers traders access to 1199 tradeable symbols, while MultiBank offers access to 1042 tradeable symbols; so HYCM (Henyep Capital Markets) offers 157 more tradeable symbols than MultiBank.

We found in our testing that HYCM (Henyep Capital Markets) offers a more diverse selection of investment options than MultiBank, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Int'l Stock Trading (Non CFD) and Cryptocurrency (Derivative). Neither have Spread Betting.