Written by ForexBrokers.com
In this head to head comparison of HYCM (Henyep Capital Markets) vs Questrade, 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) and Questrade are two reputable online brokers catering to diverse investor needs. Founded in 1977, HYCM boasts a long history in the financial services sector, while Questrade, established in 2000, has carved out its niche in the Canadian market. Neither firm is publicly traded or operates as a bank, focusing instead on providing accessible online trading services. Both brokers are endorsed by their regulatory standings, holding two Tier-1 licenses each, indicating a high level of trust according to industry standards. HYCM edges slightly ahead in regulatory diversity with an additional Tier-2 license, showing its commitment to trusted operations.
Both HYCM and Questrade garner a Trust Score of 86 from ForexBrokers.com, ranking them as trusted brokers. This score reflects their commitment to maintaining safety and reliability for their clients. Whether you're inclined towards the well-established operations of HYCM or the Canadian-focused expertise of Questrade, either broker offers a dependable platform for navigating the online trading landscape.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Year Founded | 1977 | 2000 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing the commissions and fees of HYCM (Henyep Capital Markets) and Questrade, HYCM stands out with more competitive pricing options. HYCM offers a Raw account with a low all-in cost of approximately 0.6 pips for EUR/USD trades after commission. For traders seeking different options, HYCM's Classic account starts with a variable spread from 1.2 pips, while its fixed-spread account begins at 1.5 pips. In contrast, Questrade has target spreads on the EUR/USD that are relatively steep at 1.9 pips, which is higher than the industry average.
Seeking an easy-to-understand comparison of user satisfaction, HYCM shines brighter in the ratings. HYCM earns a solid 4.5-star rating for its transparent and reasonably priced commissions and fees, reflecting its strong appeal to cost-conscious traders. Questrade, while a viable option for some, receives a 3-star rating, indicating room for improvement in its fee structures compared to market standards.
Considering their rankings among other online brokers, HYCM is positioned favorably at #15 out of 62 brokers in the Commissions and Fees category by ForexBrokers.com. This ranking underscores HYCM's competitive edge. Meanwhile, Questrade finds itself closer to the lower end of the list, ranked at #57. This notable difference in ranking highlights HYCM's more attractive offering in terms of costs for traders when compared to Questrade.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Minimum Deposit | $20 | $250 |
| 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 | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
HYCM and Questrade are both popular choices for online trading, offering a range of investment options to meet the needs of various investors. HYCM provides access to 1,199 tradeable symbols, including 70 forex pairs, and enables trading on both U.S. and international exchanges. This wide array includes not only traditional securities like stocks but also cryptocurrency derivatives for those interested in exploring digital assets. While HYCM does not offer copy trading or direct purchases of actual cryptocurrencies, its robust selections cover a comprehensive range of investment needs.
Questrade, on the other hand, offers 641 tradeable symbols, but excels in forex with 110 pairs available. Like HYCM, Questrade allows trading of exchange-traded securities on both U.S. and international markets. It also provides the option to trade cryptocurrency derivatives, though it does not permit direct cryptocurrency purchases or copy trading. Despite offering fewer total symbols compared to HYCM, Questrade garners a higher ranking and rating for its range of investments, reflecting its diverse offerings and appeal to a broad spectrum of investors.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1199 | 641 |
| Forex Pairs (Total) | 70 | 110 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| 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). |
Dive deeper: Best Copy Trading Platforms.
When deciding between HYCM (Henyep Capital Markets) and Questrade for your trading needs, their platforms and tools offer distinct advantages that cater to different trading preferences. Both brokers provide simulated trading with free demo accounts and have developed proprietary platforms that can be downloaded on Windows-based desktops and accessed via web browsers. However, only HYCM supports the widely used MetaTrader 4 and MetaTrader 5, making it appealing to those who seek the advanced trading capabilities these platforms offer. On the other hand, Questrade is unique in offering DupliTrade, providing users with additional strategy automation options.
For traders who are enthusiastic about technical charting, Questrade presents 20 drawing tools compared to the 15 available through HYCM. Both platforms permit trading directly from stock charts, which can enhance trading efficiency. Furthermore, when it comes to customizing watch lists, Questrade significantly outshines with 52 columns, while HYCM offers only 7. Despite these differences, both brokers are rated 4 stars for their trading platforms and tools, and ranked closely on ForexBrokers.com, with Questrade at #34 and HYCM at #40 out of 62 brokers, highlighting their competitive standing in the industry.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | Yes |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 64 |
| Charting - Drawing Tools (Total) | 15 | 20 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 52 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both HYCM and Questrade offer iPhone and Android apps, providing seamless access to trading on the go. Users benefit from stock or forex price alerts, enabling them to stay informed and make timely decisions no matter where they are. When it comes to charting capabilities, both platforms allow users to draw trendlines and view multiple time frames. However, Questrade stands out by offering 64 technical studies, compared to HYCM's 30, providing more detailed analysis for traders who rely heavily on technical indicators. Additionally, Questrade's mobile app allows for watchlist symbol syncing with the online account, a convenience not offered by HYCM.
In terms of user experience, both apps have a four-star rating for mobile trading, indicating user satisfaction with functionality and reliability. Users can create watchlists with real-time quotes, and both platforms auto-save chart drawings, ensuring no loss of crucial annotations. According to ForexBrokers.com, Questrade is slightly more favorable, ranked 34 out of 62 brokers, while HYCM sits at rank 37. Ultimately, the choice between the two may come down to specific needs like the number of technical studies required or the need for watchlist syncing across devices.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 64 |
| 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 choosing between HYCM and Questrade for market research, HYCM stands out by offering daily market commentary and providing forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones. This makes HYCM a more appealing choice for those looking for comprehensive market insights straight from the industry's leading voices. Conversely, while Questrade does not deliver the same breadth of daily commentary and top-tier news, it compensates with research capabilities from Autochartist and the well-regarded TipRanks, offering unique analysis tools for a detailed trading strategy.
Both HYCM and Questrade offer tools from Trading Central, demonstrating their commitment to providing essential technical analysis. They also share similar features like an economic calendar, which helps traders keep track of global news events. Despite receiving an identical 3.5-star research rating, HYCM ranks slightly better at #35 compared to Questrade’s #51 in ForexBrokers.com's research category, indicating a slight edge in user-centric research offerings overall.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | Yes |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
In comparing the educational resources available to beginners, both HYCM (Henyep Capital Markets) and Questrade provide a solid foundation in forex and CFDs education, each offering a minimum of 10 educational pieces such as articles and videos. Neither broker hosts monthly online educational webinars, yet both have searchable archives of recorded webinars for clients seeking to learn at their own pace. For beginners, both brokers present at least 10 educational trading videos, ensuring foundational knowledge is accessible to new traders. However, HYCM takes a slight edge with a comprehensive investor dictionary that defines at least 50 investing terms, a feature that Questrade does not currently offer.
When it comes to advanced educational content, both brokers show room for improvement as neither offers at least 10 advanced videos tailored for experienced traders. In terms of ratings, HYCM and Questrade both receive a 3.5 out of 5 stars for education, reflecting their efforts to cater to beginner traders. According to ForexBrokers.com, HYCM is ranked slightly higher at 32nd out of 62 brokers compared to Questrade’s 36th place in the education category. This suggests that while both platforms are commendable for beginners, HYCM may offer slightly more resources that enhance the learning journey for new investors.
| Feature |
HYCM (Henyep Capital Markets)
|
Questrade
|
|---|---|---|
| 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 | 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 Questrade. HYCM (Henyep Capital Markets) finished with an overall rank of #29, while Questrade finished with an overall rank of #32.
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)
|
Questrade
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 86 | 86 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both HYCM (Henyep Capital Markets) and Questrade do not offer the ability to buy actual delivered cryptocurrency, but both provide options for trading cryptocurrency derivatives.
Comparing online brokers, HYCM (Henyep Capital Markets) and Questrade both support Visa, Mastercard, and bank wire transfers for depositing and withdrawing funds, but while HYCM offers Skrill, neither platform supports ACH, SEPA, or PayPal transactions.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 86 | 86 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review | Questrade Review |
| Broker Screenshots | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
| ||
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| Regulation | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Trust Score | 86 | 86 | |
| Year Founded | 1977 | 2000 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | Yes | |
| 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 | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No |
| Tier-2 Licenses (Trusted) | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| 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) | Questrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1199 | 641 | |
| Forex Pairs (Total) | 70 | 110 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| 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). |
| Cost | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| 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 | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Minimum Deposit | $20 | $250 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| Trading Tools | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 52 | |
| Charting - Indicators / Studies (Total) | 30 | 64 | |
| Charting - Drawing Tools (Total) | 15 | 20 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 64 | |
| 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) | Questrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | Yes | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| 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 | No |
| Major Forex Pairs | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| 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 | Questrade Review |
| Overall | HYCM (Henyep Capital Markets) | Questrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 86 | 86 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review | Questrade Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill