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XM Group vs HYCM (Henyep) 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between XM Group 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, XM Group 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 RatingXM GroupHYCM (Henyep)IG
Overall Rating8 / 107.7 / 109.7 / 10
Account TypeXM GroupHYCM (Henyep)IG
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountYesYesNo
Copy TradingXM GroupHYCM (Henyep)IG
Social Trading / Copy TradingYesNoYes
DupliTradeNoNoNo
ZuluTradeNoNoNo
CryptocurrencyXM GroupHYCM (Henyep)IG
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
BitcoinYesYesYes
ethereumYesYesYes
Forex Trading (Spot or CFDs)XM GroupHYCM (Henyep)IG
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)XM GroupHYCM (Henyep)IG
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsXM GroupHYCM (Henyep)IG
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingNoNoYes
Social Trading / Copy TradingYesNoYes
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsYesYesYes
ETFNoNoYes
U.S. Stocks (CFD)YesYesYes
Trading PlatformsXM GroupHYCM (Henyep)IG
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformNoNoYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)YesYesNo
Regulatory LicensesXM GroupHYCM (Henyep)IG
Tier-1 Licenses227
ASIC Authorised (Australia)YesNoYes
IIROC Authorised (Canada)NoNoNo
FCA Authorised (U.K.)YesYesYes
SFC Authorised (Hong Kong)NoYesNo
MAS Authorised (Singapore)NoNoYes
FINMA Authorised (Switzerland)NoNoYes
CFTC Registered (USA)YesNoYes
Tier-2 Licenses122
Tier-3 Licenses111
Research, EducationXM GroupHYCM (Henyep)IG
Trading Central (Recognia)YesYesNo
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryYesYesYes
AutochartistYesNoYes
Investor Dictionary (Glossary)NoYesYes
Videos - Beginner Trading VideosYesYesYes
Client Webinars (Archived)NoYesYes
Trading CostsXM GroupHYCM (Henyep)IG
Minimum Initial Deposit$5$100£250.00
Average Spread EUR/USD - Standard1.6 (Aug 2020)0.6 (Sept 2021)0.86 (September 2022)
All-in Cost EUR/USD - Active0.8 (Aug 2021)0.6 (Sept 2021)0.5957 (September 2022)
Active Trader or VIP DiscountsNoYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)NoNoYes
Trading ToolsXM GroupHYCM (Henyep)IG
Watchlists - Total Fields7714
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)303033
Mobile Charting - Indicators / Studies303033
Trust FactorsXM GroupHYCM (Henyep)IG
Year Founded200919771974
Publicly Traded (Listed)NoNoYes
BankNoNoYes
Authorised in European UnionYesYesYes
Trust Score908699
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XM Group 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 XM Group vs HYCM (Henyep).

Can I trust XM Group?

XM Group has a trust score of 90, giving it a "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 XM Group a good broker?

XM Group is known for its robust educational materials and quality market research, though its range of markets and overall trading costs trail behind the best MetaTrader brokers.

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. XM Group is ASIC Authorised (Australia), 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), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand) and FINMA Authorised (Switzerland)

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, XM Group is CySEC Authorised (Cyprus), 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 XM Group is IFSC Authorised (Belize), while HYCM (Henyep) is CIMA Authorised (Cayman Islands)., neither have SCB Authorised (Bahamas), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

Both XM Group and HYCM (Henyep) offer a Desktop Platform (Windows)., neither have Proprietary Platform, cTrader, DupliTrade and ZuluTrade

Does XM Group offer MetaTrader? Does HYCM (Henyep) offer MetaTrader?

Both XM Group 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 XM Group and HYCM (Henyep) differ in terms of minimum deposit? What about average spreads and funding options?

XM Group requires a minimum deposit of $5, while HYCM (Henyep) requires a minimum deposit of $100. From our testing we found XM Group offers spreads of 1.6 (Aug 2020), while HYCM (Henyep) offers spreads of 0.6 (Sept 2021). Both XM Group 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, XM Group or HYCM (Henyep)?

XM Group 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 and U.S. Stocks (CFD)., neither have Spread Betting and ETF Looking at total tradeable symbols, XM Group has 1372, compared to 245 from HYCM (Henyep).

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

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

In terms of research and research tools XM Group 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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