| Online Broker | Minimum Deposit | Trading Platforms | Markets | About |
|---|---|---|---|---|
| City Index | $150 Minimum Deposit | MT4, Web Trader Trading Platforms | 6300+ Markets To Trade | City Index offers trading on MT4 (including automated trading) and provides a user friendly Web Trader with a wide range of CFD market to trade About |
| HYCM | $20 Minimum Deposit | MT4, MT5 Trading Platforms | 300+ Markets To Trade | HYCM offers CFD trading on MT4 and MT5, allowing automated CFD trading About |
City Index vs HYCM Comparison
Both of these brokers offer CFD trading. Each has MT4 CFD trading, with a similar total number of markets on this platform. HYCM also provides the successor to MT4, namely MT5.
On its Web Trader, City Index can offer many more markets.
Quick comparison
While each offers MT4, City Index offers its user friendly Web Trader, on which it can offer many more markets to trade. HYCM also provides MT5.
Minimum deposit and key account features
The minimum deposit for City Index is $150. The minimum deposit for HYCM is $20.
- City Index provides SMART Signals (which analyses markets to look for trading opportunities), News & Analysis, Trading View analysis, Performance Analytics from Chasing Returns (to analyse trader's performance), an Economic Calendar and SMS Volatility Alerts.
- 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 Raw, Fixed and Classic accounts is $20.
Markets
- City Index offers Forex, Indices, Energy, Metals, Cryptocurrencies, Stocks, Soft Commodities, ETFs, Bonds, Options, IPOs and Interest Rates, with 6300+ CFDs available.
- HYCM offers Forex, Indices, Energy, Metals, Cryptocurrencies, Stocks and Soft Commodities, with 300+ CFDs available
City Index has 80+ Forex pairs (on MT4), HYCM has 60+ Forex pairs.
| Broker | Trading Platforms | Description |
|---|---|---|
| HYCM Broker | MT4, MT5 Trading Platforms | HYCM offers trading on MT4 and MT5, allowing automated trading Description |
| City Index Broker | MT4, Web Trader Trading Platforms | City Index offers trading on MT4 (including automated trading) and on a user friendly Web Trader, which has a wide range of CFD markets to trade Description |
Spreads
- HYCM may offer very low Forex spreads for the most liquid Forex pairs, plus a commission charge. HYCM also offers Forex spreads without a commission charge from 1.3 and City Index offers Forex spreads without a commission charge from 0.5.
Commission charge
- City Index does not charge commissions, except for Shares CFDs.
- HYCM charges a commission of $2 per lot per side on the Raw account.
Online trading platforms
Both offer MT4. City Index additionally provides its Web Trader. HYCM additionally offers MT5.
Why City Index or HYCM ?
Traders who want to trade on MT4 may do so at either City Index or HYCM. Traders who want to trade using EA robots, may also do so at both. Traders who want to trade on MT5 (the successor to MT4) can do this at HYCM. Traders who want to trade on a user friendly platform with a wide range of CFD markets, can do this at City Index.
Comparison summary
- Both offer CFD trading
- Both offer MT4 CFD trading
- HYCM also provides MT5
- Each allows the trader to use automated trading strategies
- On its user friendly Web Trader, City Index has many more markets to trade
- City Index has a relatively large number of Stocks CFDs (not on MT4)
- HYCM allows the trader to trade Stocks on MT4 and MT5
