IG 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 IG vs HYCM (Henyep).
Can I trust IG?
IG has a trust score of 99, 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 IG a good broker?
We consider IG to be the best overall broker in the industry, due to its excellent pricing, oustanding educational materials, comprehensive research, vast range of markets, and its powerful trading platform suite. IG also continues to acquire more regulatory licenses, bolstering its status as a trustworthy broker..
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. IG is ASIC Authorised (Australia), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland), FCA Authorised (U.K.) and CFTC Registered (USA), while HYCM (Henyep) is SFC Authorised (Hong Kong) and FCA Authorised (U.K.)., neither have IIROC Authorised (Canada) and CBI Authorised (Ireland)
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, IG is 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), ISA Authorised (Israel), CBR Authorised (Russia) and SEC Authorised (Thailand). When comparing tier-3 licenses IG is BMA Authorised (Bermuda), while HYCM (Henyep) is CIMA Authorised (Cayman Islands)., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), FSC Authorised (British Virgin Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).
Which broker offers more trading platforms?
For trading platforms IG supports a Proprietary Platform and Desktop Platform (Windows), whereas HYCM (Henyep) supports a Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade
Does IG offer MetaTrader? Does HYCM (Henyep) offer MetaTrader?
For MetaTrader IG 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 IG and HYCM (Henyep) differ in terms of minimum deposit? What about average spreads and funding options?
IG requires a minimum deposit of £250.00, while HYCM (Henyep) requires a minimum deposit of $100. From our testing we found IG offers spreads of 0.86 (September 2022), while HYCM (Henyep) offers spreads of 0.6 (Sept 2021). IG supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (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, IG or HYCM (Henyep)?
IG 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, ETF and U.S. Stocks (CFD). Looking at total tradeable symbols, IG has 19537, compared to 245 from HYCM (Henyep).
Can I trade cryptocurrency with IG 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 IG nor HYCM (Henyep) allow you to trade physical cryptocurrencies.
Who offers more research tools, IG or HYCM (Henyep)?
In terms of research and research tools IG gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) 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).