Written by ForexBrokers.com
In this head to head comparison of HYCM (Henyep Capital Markets) vs TMGM, 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.
Comparing HYCM (Henyep Capital Markets) and TMGM reveals key differences in their trustworthiness and regulatory credentials. Founded in 1977, HYCM has established itself with a ForexBrokers.com Trust Score of 86, rating it as a trusted broker, while TMGM, established in 2013, has a slightly lower Trust Score of 83. Both brokers are not publicly traded and do not operate as banks, contributing to their appeal to individual traders rather than institutional investors.
Regulatory oversight is a crucial factor for traders, and both HYCM and TMGM demonstrate reliability with two Tier-1 licenses each, indicating a high level of trust from regulators. However, HYCM also holds one Tier-2 license, offering an additional layer of security. These credentials position HYCM as marginally more trusted in the market compared to TMGM, based on their regulatory standings and experience in the industry.
| Feature |
HYCM (Henyep Capital Markets)
|
TMGM
|
|---|---|---|
| Year Founded | 1977 | 2013 |
| 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 | 2 |
When comparing the fees and commissions of HYCM (Henyep Capital Markets) and TMGM, there are notable distinctions. HYCM offers a Raw account with a competitive all-in cost of approximately 0.6 pips for trading EUR/USD after accounting for commissions. The Classic account at HYCM is slightly more expensive, featuring a variable spread beginning at 1.2 pips, while the fixed-spread account is set at 1.5 pips. HYCM's diverse fee structure is well-rated, earning them a commendable 4.5 out of 5 stars in the commissions and fees category, and a rank of #15 out of 62 brokers on ForexBrokers.com.
TMGM, on the other hand, offers a mix of commission structures depending on the account type. The Edge account is particularly attractive to traders due to its low spreads and a modest commission of $3.50 per side, totaling $7 for a round trip. Although recent average spread data for the EUR/USD is unavailable, TMGM’s emphasis on competitive pricing is evident. This flexibility extends to Sharia-compliant, swap-free accounts, which are available exclusively through the Edge account. Despite this, TMGM trails behind HYCM with a rating of 4 stars and a ForexBrokers.com ranking of #36 in the commissions and fees category.
Both brokers provide diverse options tailored to different trading needs. However, users prioritizing lower trading costs might lean towards HYCM’s Raw account for its efficiency in commission inclusion. Conversely, TMGM provides advantageous features for Islamic finance customers with its Edge account, although this is reflected in their slightly lower ratings and rankings compared to HYCM.
| Feature |
HYCM (Henyep Capital Markets)
|
TMGM
|
|---|---|---|
| Minimum Deposit | $20 | $100 |
| 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 | Yes |
| 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 HYCM (Henyep Capital Markets) and TMGM for the variety of investment options they provide, you'll find some notable differences. HYCM offers forex trading as both CFD and spot contracts and boasts 1,199 tradeable symbols, including 70 forex pairs. Although they provide an extensive range of forex options, they also offer exchange traded securities on both U.S. and international exchanges, allowing clients to invest in individual stocks like Apple and Vodafone directly. However, HYCM does not support copy trading, and while they offer cryptocurrency derivatives, they lack the option for purchasing actual cryptocurrencies.
On the other hand, TMGM also supports forex trading in the form of CFDs and spot contracts, but with a significantly larger offering of 12,000 tradeable symbols. This includes 62 forex pairs, though they do not provide opportunities to invest in exchange traded securities on either U.S. or international exchanges. TMGM distinguishes itself by supporting copy trading, which is a feature not found with HYCM. Similar to HYCM, TMGM enables trading in cryptocurrency derivatives rather than actual cryptocurrencies. In terms of overall range of investments, TMGM scores slightly higher with 4.5 stars compared to HYCM's 4 stars and ranks higher at #17 compared to HYCM's #33, according to ForexBrokers.com.
| Feature |
HYCM (Henyep Capital Markets)
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1199 | 12000 |
| Forex Pairs (Total) | 70 | 62 |
| 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 | 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). | 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.
Both HYCM (Henyep Capital Markets) and TMGM offer a solid range of trading platforms and tools, but there are key differences that could influence your choice. HYCM provides a custom-built platform in addition to popular options like MetaTrader 4 and MetaTrader 5, which allows for a tailored trading experience. TMGM, while lacking a proprietary platform, supports MetaTrader 4 and MetaTrader 5 as well, promising familiarity for seasoned traders. Both brokers offer Windows-based desktop and web-based trading platforms, ensuring accessibility across devices. Additionally, HYCM and TMGM provide free virtual demo accounts for simulated trading, making them both ideal for practice before trading live.
When it comes to features like copy trading, TMGM stands out by offering this option, while HYCM does not. Each broker provides 15 drawing tools for charting, with the capability to trade directly from stock charts enhancing user interaction. Although both feature watch lists with seven fields, their charting lacks DupliTrade and ZuluTrade integration. Despite these differences, HYCM and TMGM are evenly matched with a four-star rating for trading platforms and tools. Interestingly, HYCM ranks slightly higher at number 40 compared to TMGM's 48th position out of 62 brokers on ForexBrokers.com’s list, suggesting a marginal edge in this category.
| Feature |
HYCM (Henyep Capital Markets)
|
TMGM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| 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 | 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.
Both HYCM and TMGM offer robust mobile trading apps that cater to iPhone and Android users. Traders will appreciate that each app comes equipped with essential features, such as price alerts for swift market updates and the ability to draw trendlines on charts. With the offering of 30 technical studies for charting, users are well-equipped to analyze market trends. Moreover, both platforms provide the flexibility to view multiple time frames, which is crucial for traders who keep track of daily, weekly, and intraday market movements. Both apps also support the creation of a watchlist with real-time quotes, ensuring you stay informed on the go.
While both HYCM and TMGM have received solid ratings of 4 stars for their mobile trading apps, there are some differences in ranking. ForexBrokers.com ranks HYCM at #37 and TMGM slightly lower at #47 out of 62 brokers, highlighting a marginal edge for HYCM. However, the absence of watchlist symbol syncing for both apps suggests room for improvement in this area. Still, each app's ability to auto-save chart drawings provides a seamless user experience for traders who frequently adjust their analyses. Overall, both HYCM and TMGM present reliable mobile options for traders, each with its unique strengths.
| Feature |
HYCM (Henyep Capital Markets)
|
TMGM
|
|---|---|---|
| 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 it comes to market research, both HYCM (Henyep Capital Markets) and TMGM extend daily market commentary and deliver forex news from leading sources like Bloomberg and Reuters. Both brokers incorporate Trading Central's technical analytics tools, enhancing their research offerings. However, differences emerge when exploring additional features. TMGM, unlike HYCM, offers a sentiment-based trading tool that displays the ratio of long and short positions across various instruments. Additionally, TMGM provides research tools from Acuity Trading, such as the Signal Centre, unlike HYCM which doesn’t offer this feature. Both platforms maintain an economic calendar for tracking global news events, ensuring traders stay informed of significant economic developments worldwide.
In terms of research quality, each broker receives a rating of 3.5 stars. Yet, they differ in their rankings among 62 brokers, according to ForexBrokers.com, with HYCM standing at 35 while TMGM is positioned at 53. This suggests that despite offering similar core research features, HYCM might appeal more to users prioritizing a higher-ranked research platform. Meanwhile, TMGM could be preferable for those looking to utilize sentiment analysis and additional research tools like Acuity Trading’s offerings. Ultimately, both brokers deliver substantial resources for traders, each with its unique strengths.
| Feature |
HYCM (Henyep Capital Markets)
|
TMGM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources for beginners offered by HYCM (Henyep Capital Markets) and TMGM, it's clear that HYCM provides a broader array of learning tools. HYCM offers more than ten educational pieces focused on forex and CFDs, making it a valuable resource for new traders who want to build a solid foundation in these areas. Additionally, HYCM provides a range of beginner-specific educational videos, allowing newcomers to learn about trading in an accessible and engaging way. TMGM, while offering some educational content, doesn't quite match up in terms of the sheer volume and beginner-centric focus that HYCM provides.
Both brokers offer a searchable archive of previously recorded client webinars and a well-equipped investor dictionary containing more than 50 investing terms. Despite these similar offerings, HYCM still takes the lead with a 3.5-star education rating, ranking 32 out of 62 brokers, compared to TMGM's same star rating but a lower rank of 54. While neither broker offers regular live webinars or advanced educational videos, HYCM's more comprehensive suite of beginner resources sets it apart as a more accommodating choice for those just starting out in the trading world.
| Feature |
HYCM (Henyep Capital Markets)
|
TMGM
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | Yes | Yes |
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 TMGM. HYCM (Henyep Capital Markets) finished with an overall rank of #29, while TMGM finished with an overall rank of #37.
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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TMGM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 83 |
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Both HYCM (Henyep Capital Markets) and TMGM do not offer the ability to buy actual delivered cryptocurrency, but they do provide the option to trade in cryptocurrency derivatives.
In comparing online brokers, HYCM and TMGM both offer Skrill, Visa, Mastercard, and bank wires as deposit and withdrawal options, but TMGM uniquely provides PayPal services, while neither supports ACH or SEPA transfers.
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) | TMGM | |
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| Trust Score | 86 | 83 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review | TMGM Review |
| Broker Screenshots | HYCM (Henyep Capital Markets) | TMGM | |
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| Regulation | HYCM (Henyep Capital Markets) | TMGM | |
|---|---|---|---|
| Trust Score | 86 | 83 | |
| Year Founded | 1977 | 2013 | |
| 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 | 2 |
| Tier-1 Licenses (Highly Trusted) | HYCM (Henyep Capital Markets) | TMGM | |
|---|---|---|---|
| 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 | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No |
| Tier-2 Licenses (Trusted) | HYCM (Henyep Capital Markets) | TMGM | |
|---|---|---|---|
| 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) | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1199 | 12000 | |
| Forex Pairs (Total) | 70 | 62 | |
| 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 | 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). | 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) | TMGM | |
|---|---|---|---|
| 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 | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | HYCM (Henyep Capital Markets) | TMGM | |
|---|---|---|---|
| Minimum Deposit | $20 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | HYCM (Henyep Capital Markets) | TMGM | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| 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) | TMGM | |
|---|---|---|---|
| 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) | TMGM | |
|---|---|---|---|
| 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) | TMGM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | HYCM (Henyep Capital Markets) | TMGM | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | HYCM (Henyep Capital Markets) | TMGM | |
|---|---|---|---|
| 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 | TMGM Review |
| Overall | HYCM (Henyep Capital Markets) | TMGM | |
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| Trust Score | 86 | 83 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review | TMGM Review |
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