Written by ForexBrokers.com
In this head to head comparison of Pepperstone vs HYCM (Henyep Capital Markets), 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.
Pepperstone (founded 2010) and HYCM (Henyep Capital Markets, founded 1977) are online brokers that are privately held and not banks. Pepperstone holds 3 Tier-1 licenses and 2 Tier-2 licenses, while HYCM holds 2 Tier-1 licenses and 1 Tier-2 license—tiers that ForexBrokers.com classifies as highly trusted and trusted, respectively. On the ForexBrokers.com Trust Score out of 99, Pepperstone scores 94 (highly trusted: 90–99) and HYCM scores 85 (trusted: 80–89).
In plain terms, both firms are regulated, but Pepperstone has a higher Trust Score and more top-tier licenses than HYCM. Since neither broker is publicly traded or a bank, these licenses and Trust Score ranges can help traders compare their oversight and overall trust level.
| Feature |
Pepperstone
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Year Founded | 2010 | 1977 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
Pepperstone and HYCM both offer competitive pricing, but they suit different types of traders. Pepperstone earns a 5-star rating and ranks #6 out of 36 for commissions and fees, while HYCM scores 4.5 stars and ranks #18 out of 36. In simple terms, Pepperstone is generally the stronger pick for low-cost trading, especially if you trade often.
With Pepperstone, the best pricing is found on its Razor account, which uses a commission-based model plus tight spreads. On EUR/USD, Pepperstone listed an average spread of 0.10 pips on Razor as of July 2024, and after adding the commission equivalent, the all-in cost comes to about 0.80 pips. Its Standard account has no commission, but the average EUR/USD spread was 1.1 pips, making it the pricier option. Pepperstone also offers an Active Trader program that can reduce costs for high-volume traders through spread rebates.
HYCM’s pricing is also attractive, especially on its Raw account, where the EUR/USD all-in cost is about 0.6 pips after commission. That said, its Classic account starts from 1.2 pips on variable spreads, and its fixed-spread account is listed at 1.5 pips. Overall, HYCM can be a good choice for simple pricing, but Pepperstone offers more value for active traders and stronger overall commissions and fees results.
| Feature |
Pepperstone
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Minimum Deposit | $10 | $20 |
| Average spread (EUR/USD) - Standard account | 1.1 | 1.3 |
| All-in Cost EUR/USD - Active | 0.8 | 0.6 |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Pepperstone and HYCM (Henyep Capital Markets) both give traders access to forex as CFDs or spot contracts, and each also offers cryptocurrency CFDs, but not actual crypto you can own. Pepperstone stands out for its wider total market selection, with 1,726 tradeable symbols compared with HYCM’s 1,199. It also supports copy trading, which can be helpful for newer investors who want to follow other traders.
HYCM has the edge when it comes to real share investing, since it offers exchange traded securities on both U.S. and international exchanges, while Pepperstone does not offer these markets. HYCM also lists more forex pairs, with 70 versus Pepperstone’s 65. Even so, both brokers are rated 4 out of 5 stars for Range of Investments, though Pepperstone ranks slightly higher overall at #23 out of 36 brokers, compared with HYCM at #27.
| Feature |
Pepperstone
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 1199 |
| Forex Pairs (Total) | 65 | 70 |
| U.S. Stocks (Shares) | No | Yes |
| Global Stocks (Non-U.S. Shares) | No | Yes |
| Copy Trading | Yes | No |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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.
Pepperstone and HYCM (Henyep Capital Markets) both give traders a wide range of platform choices, including a free demo account, a desktop download for Windows, a web-based platform, and access to both MetaTrader 4 and MetaTrader 5. Each broker also offers its own in-house platform, plus chart trading tools that let users place trades directly from a price chart. Based on ForexBrokers.com, both brokers earn 4 out of 5 stars for Trading Platforms and Tools.
The main difference is that Pepperstone also offers copy trading, while HYCM does not. In ForexBrokers.com's Trading Platforms and Tools ranking, Pepperstone places higher at #21 out of 36 brokers, compared with HYCM at #32 out of 36. For traders who want platform variety and social trading features, Pepperstone has the edge, while HYCM still covers the core tools most traders look for.
| Feature |
Pepperstone
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 15 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and HYCM (Henyep Capital Markets) both make it easy to trade on the go, with iPhone and Android apps, price alerts, 30 technical studies for charting, trendline drawing, and auto-saved chart drawings. Each broker is also rated 4 out of 5 stars for mobile trading apps, so on the basics they are closely matched for everyday mobile use.
The main difference is watchlist syncing. Pepperstone lets your mobile watchlists sync with your online account, so updates carry over between devices, while HYCM does not offer this feature. That edge helps Pepperstone stand out a bit more in mobile convenience, which may also help explain why ForexBrokers.com ranks Pepperstone higher for mobile trading apps overall, at #19 out of 36 brokers, compared with HYCM at #30.
| Feature |
Pepperstone
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Pepperstone and HYCM (Henyep Capital Markets) both deliver helpful market research features for traders, including daily market commentary, top-tier forex news from sources like Bloomberg, Reuters, or Dow Jones, and an economic calendar for tracking key global events. That said, Pepperstone has the edge in research depth thanks to extra tools such as Autochartist and a sentiment-based trading tool that shows long versus short positions across instruments. It is also rated higher for Research, with 4.5 stars and a ForexBrokers.com ranking of #13 out of 36 brokers.
HYCM also offers daily commentary, major news coverage, and an economic calendar, but it stands out in a different area by providing Trading Central tools, including Technical Analytics, which Pepperstone does not offer. Even so, HYCM’s research offering is more limited overall, with no Autochartist or sentiment tool, and it scores 3.5 stars for Research with a ForexBrokers.com ranking of #29 out of 36 brokers.
| Feature |
Pepperstone
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central | No | Yes |
| Client sentiment data | Yes | No |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Pepperstone stands out as the stronger choice for beginner-friendly trading education when compared with HYCM (Henyep Capital Markets). It offers forex and CFD learning materials, monthly online webinars, at least 10 beginner trading videos, and at least 10 advanced videos for more experienced traders. That wider range of education has helped Pepperstone earn a 4.5-star Education rating and a #15 ranking out of 36 brokers from ForexBrokers.com, making it a better fit for new traders who want more ways to learn.
HYCM also provides beginner trading videos and forex or CFD education, but it falls behind Pepperstone in key areas that matter to beginners, especially when it comes to live educational webinars and advanced video content. Its Education rating is 3.5 stars, and it ranks #27 out of 36 brokers on ForexBrokers.com for education. For traders who want more frequent learning support and a broader mix of educational content, Pepperstone offers the clearer advantage.
| Feature |
Pepperstone
|
HYCM (Henyep Capital Markets)
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Pepperstone is better than HYCM (Henyep Capital Markets). Pepperstone finished with an overall rank of #17, while HYCM (Henyep Capital Markets) finished with an overall rank of #26.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
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HYCM (Henyep Capital Markets)
|
|---|---|---|
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| Trust Score | 94 | 85 |
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In a head-to-head comparison, online brokers Pepperstone and HYCM (Henyep Capital Markets) both do not support buying actual (delivered) cryptocurrencies, but each offers cryptocurrency CFD trading for speculating on crypto price movements.
Between Pepperstone and HYCM (Henyep Capital Markets), Pepperstone supports ACH/SEPA, PayPal, and bank wire transfers but not Skrill, whereas HYCM supports Skrill and bank wire transfers but not ACH/SEPA or PayPal; availability of Visa/Mastercard funding was not specified.
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 | Pepperstone | HYCM (Henyep Capital Markets) | |
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| Trust Score | 94 | 85 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | HYCM (Henyep Capital Markets) Review |
| Broker Screenshots | Pepperstone | HYCM (Henyep Capital Markets) | |
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| Regulation | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Trust Score | 94 | 85 | |
| Year Founded | 2010 | 1977 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 3 | 2 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | Yes | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| 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). | Yes | No |
| Tier-2 Licenses (Trusted) | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 1199 | |
| Forex Pairs (Total) | 65 | 70 | |
| U.S. Stocks (Shares) | No | Yes | |
| Global Stocks (Non-U.S. Shares) | No | Yes | |
| Copy Trading | Yes | No | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.1 | 1.3 | |
| All-in Cost EUR/USD - Active | 0.8 | 0.6 | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Minimum Deposit | $10 | $20 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No |
| Trading Tools | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 15 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central | No | Yes | |
| TipRanks | No | No | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | Pepperstone | HYCM (Henyep Capital Markets) | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Pepperstone Review | HYCM (Henyep Capital Markets) Review |
| Overall | Pepperstone | HYCM (Henyep Capital Markets) | |
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| Trust Score | 94 | 85 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | HYCM (Henyep Capital Markets) Review |
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