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AvaTrade vs HYCM (Henyep) 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between AvaTrade and HYCM (Henyep)? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, AvaTrade ranks more highly than HYCM (Henyep).

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% 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.
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Overall RatingAvaTradeHYCM (Henyep)FOREX.com
Overall Rating8.6 / 107.7 / 109.3 / 10
Account TypeAvaTradeHYCM (Henyep)FOREX.com
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountYesYesYes
Copy TradingAvaTradeHYCM (Henyep)FOREX.com
Social Trading / Copy TradingYesNoNo
DupliTradeYesNoNo
ZuluTradeYesNoNo
CryptocurrencyAvaTradeHYCM (Henyep)FOREX.com
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
BitcoinYesYesYes
ethereumYesYesYes
Forex Trading (Spot or CFDs)AvaTradeHYCM (Henyep)FOREX.com
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)AvaTradeHYCM (Henyep)FOREX.com
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsAvaTradeHYCM (Henyep)FOREX.com
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingYesNoNo
Social Trading / Copy TradingYesNoNo
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsYesYesYes
ETFNoNoYes
U.S. Stocks (CFD)YesYesYes
Trading PlatformsAvaTradeHYCM (Henyep)FOREX.com
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformYesNoYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)YesYesYes
Regulatory LicensesAvaTradeHYCM (Henyep)FOREX.com
Tier-1 Licenses424
ASIC Authorised (Australia)YesNoNo
IIROC Authorised (Canada)YesNoYes
FCA Authorised (U.K.)NoYesYes
SFC Authorised (Hong Kong)NoYesNo
MAS Authorised (Singapore)NoNoNo
FINMA Authorised (Switzerland)NoNoNo
CFTC Registered (USA)NoNoYes
Tier-2 Licenses322
Tier-3 Licenses111
Research, EducationAvaTradeHYCM (Henyep)FOREX.com
Trading Central (Recognia)YesYesYes
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryYesYesYes
AutochartistNoNoNo
Investor Dictionary (Glossary)YesYesYes
Videos - Beginner Trading VideosYesYesYes
Client Webinars (Archived)YesYesNo
Trading CostsAvaTradeHYCM (Henyep)FOREX.com
Minimum Initial Deposit$100$100$100
Average Spread EUR/USD - Standard0.91 (Aug 2020) 0.6 (Sept 2021)1.0 (July 2022)
All-in Cost EUR/USD - Active0.61 (Aug 2020)0.6 (Sept 2021)1.0 (July 2022)
Active Trader or VIP DiscountsYesYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)YesNoYes
Trading ToolsAvaTradeHYCM (Henyep)FOREX.com
Watchlists - Total Fields6720
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)9030203
Mobile Charting - Indicators / Studies733088
Trust FactorsAvaTradeHYCM (Henyep)FOREX.com
Year Founded200619771999
Publicly Traded (Listed)NoNoYes
BankNoNoNo
Authorised in European UnionYesYesYes
Trust Score938699
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AvaTrade vs HYCM (Henyep) Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare AvaTrade vs HYCM (Henyep).

Can I trust AvaTrade?

AvaTrade has a trust score of 93, giving it a "Highly Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.

Can I trust HYCM (Henyep)?

HYCM (Henyep) has a trust score of 86, giving it a "Trusted" trust label.

Is AvaTrade a good broker?

AvaTrade is a well-rounded, trusted broker that offers excellent educational resources and great social copy trading tools. AvaTrade's commissions and market research are close to the industry average, and traders gain access to AvaTrade's proprietary platforms as well as third-party favorites like MetaTrader.

Is HYCM (Henyep) a good broker?

HYCM has a long history of offering share trading, forex, and CFD markets globally. A trusted broker that primarily offers the MetaTrader platform, HYCM delivers competitive pricing on its Raw account, as well as access to Trading Central and third-party plugins.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. AvaTrade is ASIC Authorised (Australia), IIROC Authorised (Canada), CBI Authorised (Ireland) and FSA Authorised (Japan), while HYCM (Henyep) is SFC Authorised (Hong Kong) and FCA Authorised (U.K.)., neither have MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland) and CFTC Registered (USA)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, AvaTrade is CySEC Authorised (Cyprus), ISA Authorised (Israel), FSCA Authorised (South Africa) and DFSA / Central Bank Authorised (UAE), while HYCM (Henyep) is CySEC Authorised (Cyprus) and DFSA / Central Bank Authorised (UAE)., neither have CBRC Authorised (China), SEBI Authorised (India), CBR Authorised (Russia) and SEC Authorised (Thailand). When comparing tier-3 licenses AvaTrade is FSC Authorised (British Virgin Islands), while HYCM (Henyep) is CIMA Authorised (Cayman Islands)., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

For trading platforms AvaTrade supports a Proprietary Platform, Desktop Platform (Windows), DupliTrade and ZuluTrade, whereas HYCM (Henyep) supports a Desktop Platform (Windows)., neither have cTrader

Does AvaTrade offer MetaTrader? Does HYCM (Henyep) offer MetaTrader?

Both AvaTrade and HYCM (Henyep) offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.

How do AvaTrade and HYCM (Henyep) differ in terms of minimum deposit? What about average spreads and funding options?

AvaTrade requires a minimum deposit of $100, while HYCM (Henyep) requires a minimum deposit of $100. From our testing we found AvaTrade offers spreads of 0.91 (Aug 2020) , while HYCM (Henyep) offers spreads of 0.6 (Sept 2021). AvaTrade supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for popular funding options, where HYCM (Henyep) supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw).

Which brokers offers more tradeable asset classes, AvaTrade or HYCM (Henyep)?

AvaTrade offers a more diverse selection of investment options than HYCM (Henyep) allowing you to trade Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies, Agriculturals and U.S. Stocks (CFD)., neither have ETF Looking at total tradeable symbols, AvaTrade has 1260, compared to 245 from HYCM (Henyep).

Can I trade cryptocurrency with AvaTrade or HYCM (Henyep)?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither AvaTrade nor HYCM (Henyep) allow you to trade physical cryptocurrencies.

Who offers more research tools, AvaTrade or HYCM (Henyep)?

In terms of research and research tools AvaTrade gives traders the following tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison HYCM (Henyep) has the tools listed here: Daily Market Commentary, Forex News (Top-Tier Sources) and Trading Central (Recognia)., neither have Autochartist

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