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Swissquote vs HYCM (Henyep) 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between Swissquote 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, Swissquote 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 RatingSwissquoteHYCM (Henyep)XTB
Overall Rating8.7 / 107.7 / 109 / 10
Account TypeSwissquoteHYCM (Henyep)XTB
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountYesYesYes
Copy TradingSwissquoteHYCM (Henyep)XTB
Social Trading / Copy TradingYesNoYes
DupliTradeNoNoNo
ZuluTradeNoNoNo
CryptocurrencySwissquoteHYCM (Henyep)XTB
Cryptocurrency (Physical)YesNoNo
Cryptocurrency (CFD)NoYesYes
BitcoinYesYesYes
ethereumYesYesYes
Forex Trading (Spot or CFDs)SwissquoteHYCM (Henyep)XTB
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)SwissquoteHYCM (Henyep)XTB
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsSwissquoteHYCM (Henyep)XTB
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingNoNoNo
Social Trading / Copy TradingYesNoYes
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsYesYesYes
ETFYesNoNo
U.S. Stocks (CFD)YesYesYes
Trading PlatformsSwissquoteHYCM (Henyep)XTB
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformYesNoYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)YesYesNo
Regulatory LicensesSwissquoteHYCM (Henyep)XTB
Tier-1 Licenses421
ASIC Authorised (Australia)NoNoNo
IIROC Authorised (Canada)NoNoNo
FCA Authorised (U.K.)YesYesYes
SFC Authorised (Hong Kong)YesYesNo
MAS Authorised (Singapore)YesNoNo
FINMA Authorised (Switzerland)YesNoNo
CFTC Registered (USA)NoNoNo
Tier-2 Licenses123
Tier-3 Licenses011
Research, EducationSwissquoteHYCM (Henyep)XTB
Trading Central (Recognia)YesYesNo
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryYesYesYes
AutochartistYesNoNo
Investor Dictionary (Glossary)YesYesNo
Videos - Beginner Trading VideosYesYesYes
Client Webinars (Archived)YesYesYes
Trading CostsSwissquoteHYCM (Henyep)XTB
Minimum Initial Deposit$1000$100$0
Average Spread EUR/USD - StandardN/A0.6 (Sept 2021)1.07 (Q3 2022)
All-in Cost EUR/USD - ActiveN/A0.6 (Sept 2021)1.04 (Q3 2022)
Active Trader or VIP DiscountsYesYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)YesNoYes
Trading ToolsSwissquoteHYCM (Henyep)XTB
Watchlists - Total Fields778
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)493039
Mobile Charting - Indicators / Studies303039
Trust FactorsSwissquoteHYCM (Henyep)XTB
Year Founded199619772002
Publicly Traded (Listed)YesNoYes
BankYesNoNo
Authorised in European UnionYesYesYes
Trust Score998695
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Swissquote 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 Swissquote vs HYCM (Henyep).

Can I trust Swissquote?

Swissquote 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 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 Swissquote a good broker?

Swissquote is a highly-trusted broker, offering a significant range of markets from within its in-house platform suite. It's worth noting that Swissquote's pricing is more expensive than what you'd find with low-cost brokers, and its forex account offers far fewer markets โ€“ including on MetaTrader โ€“ than Swissquote's eTrading account for share dealing.

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. Swissquote is SFC Authorised (Hong Kong), MAS Authorised (Singapore), FINMA Authorised (Switzerland) and FCA Authorised (U.K.), while HYCM (Henyep) is SFC Authorised (Hong Kong) and FCA Authorised (U.K.)., neither have ASIC Authorised (Australia), IIROC Authorised (Canada), CBI Authorised (Ireland), FSA Authorised (Japan), FMA Authorised (New Zealand) 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, Swissquote is 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), FSCA Authorised (South Africa) and SEC Authorised (Thailand). When comparing tier-3 licenses Swissquote 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 Swissquote supports a Proprietary Platform and Desktop Platform (Windows), whereas HYCM (Henyep) supports a Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade

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

Both Swissquote and HYCM (Henyep) offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If youโ€™re new to MetaTrader 4 hereโ€™s our educational guide on how to use MT4.

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

Swissquote requires a minimum deposit of $1000, while HYCM (Henyep) requires a minimum deposit of $100. From our testing we found Swissquote offers spreads of N/A, while HYCM (Henyep) offers spreads of 0.6 (Sept 2021). Swissquote 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, Swissquote or HYCM (Henyep)?

Swissquote offers a more diverse selection of investment options than HYCM (Henyep) allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, Swissquote has 466, compared to 245 from HYCM (Henyep).

Can I trade cryptocurrency with Swissquote 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 Swissquote nor HYCM (Henyep) allow you to trade physical cryptocurrencies.

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

In terms of research and research tools Swissquote 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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