City Index vs HYCM - Trading Brokers Comparison

City Index vs HYCM | Online Brokerage Comparison

City Index vs HYCM Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulation
NoneMT4, Web Trader, Advantage Web & Apps, AT Pro12,000+FCA, ASIC, MAS
$100MT4, MT5300+FCA, CySEC, DFSA, CIMA

City Index vs HYCM Comparison

Both of these brokers offer CFD trading, but in the UK, City Index also provides spread betting. 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, Advantage Web (a downloaded platform) and AT Pro, City Index can offer many more markets. City Index is regulated by the FCA in the United Kingdom, the ASIC in Australia and the MAS in Singapore. 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

While each offers MT4, City Index has a range of other trading platforms, on which it can offer many more markets to trade. HYCM also provides MT5.

Minimum deposit and key account features

There is no minimum deposit for City Index. The minimum deposit for HYCM is $100.

  • City Index offers CFD trading and spread betting. City Index provides a news feed, market reports and a Trading Academy.
  • 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.

Markets

  • City Index offers Forex, Indices, Energy, Metals, Cryptocurrencies, Stocks, Soft Commodities, ETFs, Bonds, Options, IPOs and Interest Rates, with 12,000+ available. City Index Australia and City Index Singapore have less markets (5,000+), as they do not offer spread betting. On MT4, City Index has 100+ markets covering Forex, Indices, Energy, Metals and Soft Commodities.
  • 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.

City Index has 80+ Forex pairs (on MT4), HYCM has 60+ Forex pairs.

Cryptocurrency CFDs

  • City Index provides Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash (as a CFD or for spread betting).
  • HYCM offers Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Monero, NEO, IOTA, Bitcoin Gold, Ethereum Classic, QTUM and Zcash

Spreads and leverage

  • 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.
  • Maximum leverage for HYCM (CySEC or FCA regulated) is . Maximum leverage for City Index (FCA or ASIC regulated) is . Maximum leverage for City Index (ASIC regulated) is 200:1.

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 a web trader, the Advantage Web downloaded platform and the AT Pro downloaded platform. HYCM additionally offers MT5.

Why City Index or HYCM ?

For traders who wish to trade using Expert Advisors (EAs) on MT4, both broker offer this capacity. However HYCM extends this capacity by providing MT4's successor, MT5. City Index offers more platforms, thus enabling a trader to explore a wide range of markets on its other platform, which include a user friendly web trader and AT Pro, a platform for advanced traders. AT Pro has a relatively wide range of technical indicators and allows the trader to automate part of the trading process, by providing trading signals on the chart. On its non-EA MT4 account, HYCM still has a relatively wide range of markets, which also includes Stocks CFDs. City Index's MT4 does not include Stocks.

Comparison summary

  • Both offer CFD trading
  • In the UK City Index also provides spread betting
  • Both offer MT4 CFD trading
  • HYCM also provides MT5
  • Each allows the trader to use automated trading strategies
  • City Index provides more platforms
  • On its other platforms, 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
  • City Index has no minimum deposit requirement

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