Written by ForexBrokers.com
In this head to head comparison of HYCM (Henyep Capital Markets) vs TopFX, 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, is a well-regarded online broker with nearly half a century of experience under its belt. It holds two highly trusted Tier-1 licenses and one trusted Tier-2 license. The firm boasts a Trust Score of 86 from ForexBrokers.com, placing it in the "trusted" category. HYCM is not publicly traded, nor is it a bank, allowing them to focus on delivering a dedicated brokerage service to their clients.
Founded in 2010, TopFX has been in the online brokerage industry for over a decade. Holding one highly trusted Tier-1 license, TopFX has a Trust Score of 67 from ForexBrokers.com, which categorizes it within the "high risk" band. Like HYCM, TopFX is not publicly traded and is not a bank, concentrating their efforts on tailor-made brokerage solutions for their customers.
| Feature |
HYCM (Henyep Capital Markets)
|
TopFX
|
|---|---|---|
| Year Founded | 1977 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing HYCM (Henyep Capital Markets) and TopFX in terms of commissions and fees, HYCM offers a variety of account types tailored to different trading needs. Its Raw account stands out with competitive pricing, presenting an all-in cost of about 0.6 pips for EUR/USD, making it attractive for cost-conscious traders. Alternatively, the Classic account begins with a variable spread from 1.2 pips, while the fixed-spread account maintains a spread of 1.5 pips. HYCM has secured a 4.5-star rating and ranks #15 out of 62 brokers for commissions and fees according to ForexBrokers.com.
TopFX provides two distinct account options accessible on MetaTrader and cTrader platforms: the spread-only ZERO account and the commission-based RAW account. The RAW account incurs a commission of 2.75 EUR per side, totaling 5.50 EUR per round-turn. It has an average spread of 0.33 pips for the EUR/USD, resulting in an all-in cost of approximately 0.88 pips, aligning with industry standards. In comparison, the ZERO account charges no commission but comes with a higher average spread of 1.03 pips. TopFX has received a 4-star rating and is ranked #40 for commissions and fees among 62 brokers as evaluated by ForexBrokers.com.
In summary, HYCM tends to offer lower all-in costs on their Raw account, making it a favorable choice for traders who prioritize low fees. TopFX also offers competitive options, with the choice between commission and higher-spread accounts allowing for flexibility depending on trading preferences. Both platforms offer solid trading environments but differ slightly in their fee structures and market rankings.
| Feature |
HYCM (Henyep Capital Markets)
|
TopFX
|
|---|---|---|
| Minimum Deposit | $20 | Depends on payment method |
| Average Spread EUR/USD - Standard | 1.2 | 1.03 |
| All-in Cost EUR/USD - Active | 0.6 | 0.88 |
| 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 weighing the investment options offered by HYCM (Henyep Capital Markets) and TopFX, there are several key distinctions to consider. HYCM features an impressive 1,199 tradeable symbols, outpacing TopFX's 655 symbols. In terms of forex trading, HYCM provides 70 pairs compared to TopFX's 60, giving forex traders more variety. HYCM also stands out by offering the opportunity to directly purchase exchange-traded securities on both U.S. and international markets, such as Apple shares on NASDAQ and Vodafone on the London Stock Exchange. In contrast, TopFX does not provide access to exchange-traded securities, which limits its investment offerings somewhat.
Both brokers allow trading in forex as either a CFD or spot contract and offer cryptocurrency derivatives rather than actual cryptocurrencies. However, TopFX capitalizes on copy trading, a feature missing from HYCM. In terms of ratings, HYCM garners 4 stars for its range of investments, partly due to its broader spectrum of tradeable assets, while TopFX is rated at 3.5 stars. Rankings by ForexBrokers.com further highlight these differences, positioning HYCM at 33rd and TopFX at 46th out of 62 brokers for their investment offerings. This comparison underscores HYCM’s slightly more expansive array of investment features, especially for traders interested in a wider selection of forex pairs and direct stock market access.
| Feature |
HYCM (Henyep Capital Markets)
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1199 | 655 |
| Forex Pairs (Total) | 70 | 60 |
| 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.
When comparing the trading platforms and tools of HYCM (Henyep Capital Markets) and TopFX, each broker offers beneficial features for users. Both brokers provide simulated trading with free virtual demo accounts, allowing users to practice trading without financial risk. HYCM stands out with its proprietary platform and compatibility with both MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Although both HYCM and TopFX offer Windows-based desktop trading and web-based platforms, TopFX does not have a proprietary platform developed in-house. However, TopFX supports copy trading, providing an advantage for those interested in copy trading strategies, unlike HYCM.
For charting tools, both brokers provide 15 drawing tools, as well as the ability to trade directly from a stock chart. Users creating watch lists will find seven available fields for customization in both platforms. Despite their similarities in rating—each receiving four stars—HYCM ranks slightly better in the Trading Platforms and Tools category according to ForexBrokers.com, positioned at #40 compared to TopFX's rank of #44. This edge may be attributed to HYCM's broader trading platform support and proprietary options.
| Feature |
HYCM (Henyep Capital Markets)
|
TopFX
|
|---|---|---|
| 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 | No |
| 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 (Henyep Capital Markets) and TopFX offer comprehensive mobile trading apps for iPhone and Android users. Traders can expect essential features like stock or forex price alerts and the ability to draw trendlines on their mobile charts. Each app supports multiple time frames, such as daily, weekly, and intraday views, allowing users to tailor their trading decisions to their preferences. Additionally, both brokers provide the capability to maintain watchlists with real-time quotes, ensuring that traders have access to current market data at all times. With 30 technical studies available in their mobile charting tools, HYCM and TopFX ensure that traders have the analytical tools they need at their fingertips.
However, neither HYCM nor TopFX currently supports watchlist symbol syncing, which means users may need to manually update watchlists between their mobile and online accounts. Despite this, both brokers have been rated 4 out of 5 stars for their mobile trading apps. HYCM holds a slightly higher rank, positioned at #37 out of 62 brokers according to ForexBrokers.com, compared to TopFX's rank of #51. This ranking difference highlights HYCM's slightly more favorable standing in the mobile trading apps category.
| Feature |
HYCM (Henyep Capital Markets)
|
TopFX
|
|---|---|---|
| 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 market research offerings from HYCM (Henyep Capital Markets) and TopFX, it's clear that each has unique strengths. HYCM stands out for its daily market commentary and access to forex news from leading sources like Bloomberg and Reuters, helping traders stay informed with timely insights. Additionally, HYCM provides valuable support with tools from Trading Central but lacks features like sentiment-based trading tools and Autochartist, which may be drawbacks for some traders. Despite these gaps, HYCM's comprehensive economic calendar is a helpful resource, contributing to its 3.5-star rating in research and placing it 35th among 62 brokers in the category.
TopFX, on the other hand, offers forex news from premier sources and provides technical support through both Autochartist and Trading Central. This makes it a great choice for those who value technical analysis tools. The addition of a sentiment-based trading tool further enriches its research offerings. However, TopFX doesn't provide daily market commentary like HYCM nor does it offer tools from companies like TipRanks or Acuity Trading. Its economic calendar aligns closely with HYCM's, featuring detailed global economic events. With a 3-star research rating, TopFX ranks 59th out of 62 brokers, illustrating room for improvement in their research services.
| Feature |
HYCM (Henyep Capital Markets)
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, HYCM (Henyep Capital Markets) stands out by offering a wide variety of materials to help newcomers get started in forex and CFD trading. HYCM provides at least ten educational pieces, including articles and videos, focused on essential trading topics. Additionally, they have a searchable archive of previously recorded webinars, making it easier for beginners to find valuable information at their convenience. A highlight for beginners is the availability of over ten beginner-friendly videos designed to break down complex trading concepts into easy-to-understand lessons. They also offer an investor dictionary containing definitions of more than 50 investing terms, which is a useful tool for those new to the trading world.
On the other hand, TopFX falls short in the realm of beginner education. They do not meet the minimum requirement of ten educational pieces related to forex or CFDs, nor do they offer an archive of recorded webinars or beginner-focused educational videos. While both HYCM and TopFX do not provide live monthly webinars or advanced educational videos, HYCM's broader range of beginner resources gives it an edge in supporting new traders. Consequently, HYCM receives a slightly higher education rating of 3.5 stars compared to TopFX's 3 stars and holds a more favorable position of 32nd place among 62 brokers in the education category, while TopFX ranks 60th.
| Feature |
HYCM (Henyep Capital Markets)
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| 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 TopFX. HYCM (Henyep Capital Markets) finished with an overall rank of #29, while TopFX finished with an overall rank of #61.
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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TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 67 |
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Both HYCM (Henyep Capital Markets) and TopFX do not provide the option to purchase actual (delivered) cryptocurrencies; however, they both offer the ability to trade cryptocurrency derivatives.
While both HYCM (Henyep Capital Markets) and TopFX offer Skrill, Visa, Mastercard, and bank wire options for depositing and withdrawing funds, only TopFX provides the convenience of PayPal, as neither broker 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) | TopFX | |
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| Trust Score | 86 | 67 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review | TopFX Review |
| Broker Screenshots | HYCM (Henyep Capital Markets) | TopFX | |
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| Regulation | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| Trust Score | 86 | 67 | |
| Year Founded | 1977 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| 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 | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| 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) | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1199 | 655 | |
| Forex Pairs (Total) | 70 | 60 | |
| 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) | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | 1.03 | |
| All-in Cost EUR/USD - Active | 0.6 | 0.88 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| Minimum Deposit | $20 | Depends on payment method | |
| 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) | TopFX | |
|---|---|---|---|
| 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 | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| 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) | TopFX | |
|---|---|---|---|
| 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) | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | HYCM (Henyep Capital Markets) | TopFX | |
|---|---|---|---|
| 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 | TopFX Review |
| Overall | HYCM (Henyep Capital Markets) | TopFX | |
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| Trust Score | 86 | 67 | |
| Winner | check_circle | ||
| Review | HYCM (Henyep Capital Markets) Review | TopFX Review |
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