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FXCM vs HYCM (Henyep) 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between FXCM and HYCM (Henyep)? Weโ€™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, FXCM 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 RatingFXCMHYCM (Henyep)FOREX.com
Overall Rating8.3 / 107.7 / 108.7 / 10
Account TypeFXCMHYCM (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 AccountNoYesYes
Copy TradingFXCMHYCM (Henyep)FOREX.com
Social Trading / Copy TradingYesNoNo
DupliTradeNoNoNo
ZuluTradeYesNoNo
CryptocurrencyFXCMHYCM (Henyep)FOREX.com
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
BitcoinYesYesYes
ethereumYesYesYes
Forex Trading (Spot or CFDs)FXCMHYCM (Henyep)FOREX.com
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)FXCMHYCM (Henyep)FOREX.com
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsFXCMHYCM (Henyep)FOREX.com
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingYesNoNo
Social Trading / Copy TradingYesNoNo
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsNoYesYes
ETFNoNoYes
U.S. Stocks (CFD)YesYesYes
Trading PlatformsFXCMHYCM (Henyep)FOREX.com
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformYesNoYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)NoYesYes
Regulatory LicensesFXCMHYCM (Henyep)FOREX.com
Tier-1 Licenses324
ASIC Authorised (Australia)YesNoNo
IIROC Authorised (Canada)YesNoYes
FCA Authorised (U.K.)YesYesYes
SFC Authorised (Hong Kong)NoYesNo
MAS Authorised (Singapore)NoNoNo
FINMA Authorised (Switzerland)NoNoNo
CFTC Registered (USA)NoNoYes
Tier-2 Licenses322
Tier-3 Licenses011
Research, EducationFXCMHYCM (Henyep)FOREX.com
Trading Central (Recognia)YesYesYes
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryYesYesYes
AutochartistYesNoNo
Investor Dictionary (Glossary)YesYesYes
Videos - Beginner Trading VideosYesYesYes
Client Webinars (Archived)YesYesNo
Trading CostsFXCMHYCM (Henyep)FOREX.com
Minimum Initial DepositStarts from $50$100$100
Average Spread EUR/USD - Standard1.38 (Q2 2022)0.6 (Sept 2021)1.0 (July 2022)
All-in Cost EUR/USD - Active1.38 (Q2 2022)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)NoNoYes
Trading ToolsFXCMHYCM (Henyep)FOREX.com
Watchlists - Total Fields12720
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)5730203
Mobile Charting - Indicators / Studies593088
Trust FactorsFXCMHYCM (Henyep)FOREX.com
Year Founded199919771999
Publicly Traded (Listed)YesNoYes
BankNoNoNo
Authorised in European UnionYesYesYes
Trust Score968699
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FXCM 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 FXCM vs HYCM (Henyep).

Can I trust FXCM?

FXCM has a trust score of 96, 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 โ€“ in most cases โ€“ 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 โ€œDo Not Trustโ€ rating.

Can I trust HYCM (Henyep)?

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

Is FXCM a good broker?

FXCM, a Jefferies Group company, is a long-standing brand that caters to global forex and CFD traders. It offers multiple trading platforms for alogrithmic trading and social copy-trading alongside it's flagship platform suite. The range of markets available at FXCM has increased following the addition of its share trading feature, and its known for providing robust market research โ€“ though pricing at FXM is just average.

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. FXCM is ASIC Authorised (Australia), IIROC Authorised (Canada) and FCA Authorised (U.K.), while HYCM (Henyep) is SFC Authorised (Hong Kong) and FCA Authorised (U.K.)., neither have CBI Authorised (Ireland), FSA Authorised (Japan), 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, FXCM is CySEC Authorised (Cyprus), ISA Authorised (Israel) and FSCA Authorised (South Africa), 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 FXCM is none, while HYCM (Henyep) is CIMA Authorised (Cayman Islands)., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

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

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

For MetaTrader FXCM provides MetaTrader 4 (MT4), while HYCM (Henyep) provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

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

FXCM requires a minimum deposit of Starts from $50, while HYCM (Henyep) requires a minimum deposit of $100. From our testing we found FXCM offers spreads of 1.38 (Q2 2022), while HYCM (Henyep) offers spreads of 0.6 (Sept 2021). Both FXCM and HYCM (Henyep) offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for deposits., neither have PayPal (Deposit/Withdraw)

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

FXCM 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 and U.S. Stocks (CFD)., neither have ETF Looking at total tradeable symbols, FXCM has 441, compared to 245 from HYCM (Henyep).

Can I trade cryptocurrency with FXCM 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 โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither FXCM nor HYCM (Henyep) allow you to trade physical cryptocurrencies.

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

In terms of research and research tools FXCM gives traders the following tools: Autochartist, 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).

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