24Option vs HYCM - Compare Trading Brokers

24Option vs HYCM | Online Brokerage Comparison

24Option vs HYCM Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$250MT4, Web Trader & Apps130+CySEC, IFSC
$100MT4, MT5300+FCA, CySEC, DFSA, CIMA

24Option vs HYCM Comparison

Both brokers provide MetaTrader 4 (MT4). HYCM also provides MT4's sucsessor, which is MetaTrader 5 (MT5). 24Option's main platform is a web trader (and apps). MT4 and MT5 are also available as mobile and tablet apps. Before offering MT5, HYCM was an MT4 broker and built its account types around the potential of this platform, providing accounts which both support and do not support the use of MT4 automated trading strategies, called Expert Advisors (EAs).

While MT5 is the successor to MT4 (but not its replacement) it offers similarity in that it also supports the use of Expert Advisors (though MT5 has a different programming language for those who wish to build trading robots). 24Option also offers MT4, but in providing a user friendly web trader can be seen as offering features for the human trader who want to trade without using trading automation. 24Option is regulated by the CySEC in Cyprus and the IFSC in Belize. HYCM is regulated by the FCA in the United Kingdom, the CySEC in Cyprus, the DFSA in Dubai and the CIMA in the Cayman Islands.

Quick comparison

Both offer MT4. HYCM additionally provides MT5 while 24Option provides a web trader and apps. HYCM has a lower minimum deposit.

Minimum deposit and key account features

The minimum deposit for 24Option is $/€/£250. The minimum deposit for HYCM is $100.

  • 24Option offers an Economic Calendar, Market Reports, Analysis and Videos on its website and Trading Central.
  • HYCM offers a Trading Central plug in and has an Economic Calendar, Forex Calculators, News, Market Outlook, Forex Education, Webinars and Seminars on its website. HYCM says that latency is as low at 12ms. The minimum trade size is 0.01 lots.
  • HYCM offers Fixed, Classic and Raw account and Islamic accounts for each. The Raw account charges commissions, the others do not. The Classic and Raw accounts allow Expert Advisors. The minimum deposit for the Fixed and Classic accounts is $100 and the minimum deposit for the Raw account is $200. There is also a VIP account which provides a dedicated account manager, comprehensive market analysis and lower spreads for the Fixed account, with a minimum deposit of $10,000.

Trading markets

  • 24Option offers Forex, Indices, Energy, Metals, Cryptocurrencies, Stocks and Soft Commodities, with 130+ available.
  • HYCM offers Forex, Indices, Energy, Metals, Cryptocurrencies, Stocks and Soft Commodities, with 80+ available on MT4 and 300+ on MT5. On the MT4 Classic and Raw accounts, HYCM offers Forex and Precious Metals, with 45+ available.

Cryptocurrency CFDs

  • 24Option offers Bitcoin, Ethereum, Litecoin, Ripple and DASH.
  • HYCM offers Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Monero, QTUM, NEO, IOTA, Bitcoin Gold, Ethereum Classic and Zcash.

Leverage

Maximum leverage for 24Option (CySEC regulated) is . Maximum leverage for HYCM (FCA or CySEC regulated) is .

Online trading platforms

Both offer MT4. 24Option additionally provides a web trader and apps.

Why 24Option or HYCM ?

Traders wishing to use MT4 can find this platform at either broker. Trading who want to use MT4's successor MT5 can find this platform at HYCM. On MT5, HYCM offers more markets to trade, with a total of 300+ and on this platform has an extended range of Cryptocurrency CFDs to trade (when trading a CFD the trader does not own the underlying markets and in the case of Crypto CFD's does not need a wallet). 24Option offers a user friendly web trader, for traders who make their own trading decisions, vs using robots.

Comparison summary

  • Both offer CFD trading
  • Each provides MT4
  • HYCM additionally provides MT5
  • 24Option offers a web trader
  • HYCM has more markets to trade on MT5

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