| Online Broker | Minimum Deposit | Trading Platforms | Markets | About |
|---|---|---|---|---|
| FXCC | $100 Minimum Deposit | MT4 Trading Platform | 90+ Markets To Trade | FXCC offers trading on MT4, incuding an ECN XL account with low spreads without a commission charge About |
| HYCM | $20 Minimum Deposit | MT4, MT5 Trading Platform | 300+ Markets To Trade | HYCM offers trading on MT4 and MT5, allowing automated trading About |
FXCC vs HYCM Comparison
These are both MT4 brokers and can offer trading suited to Expert Advisors (EAs), offering what can be low spreads plus a commission charge. However HYCM additionally provides MT4's successor, MT5. HYCM also offers other accounts which do not charge commissions and can have higher spreads (one of which also allows EAs). However FXCC has an account which can provide spreads without a commission charge or mark-up. FXCC is an MT4 ECN broker.
On their EAs friendly MT4 accounts, both brokers have a similar range of markets, though on its ECN Advanced account FXCC can offer a wider range. Overall, taking into account its Fixed account which does not support EAs, HYCM has a considerably wider range of MT4 markets. So comparatively speaking, HYCM is arguably more suited to traders who may wish to use MT4 for both automated and non-automated strategies, while FXCC is particularly suited to automated trading.
Both brokers are regulated by the CySEC in Cyprus. HYCM is additionally regulated by the FCA in the United Kingdom, the DFSA in Dubai and the CIMA in the Cayman Islands.
Quick comparison
Both are MT4 brokers, though FXCC is an MT4 ECN broker and HYCM also offers MT5. HYCM can provide a wider range of markets to trade overall.
Minimum deposit and key account features
The minimum deposit for FXCC is $100. The minimum deposit for HYCM is $20.
- FXCC provides three account types. These are the ECN Standard account, the ECN XL account and the ECN Advanced account. FXCC's ECN XL account has a minimum deposit of $100, the ECN Standard account has a minimum deposit of $10,000 and the ECN Advanced account has a minimum deposit of $100,000. In some regions, there is only the ECN XL account, and it has no minimum deposit.
- All FXCC account types provide the MT4 platform, ECN/STP order execution, mobile trading, free technical analysis, SMS notifications, VPS, Economic Calendar and Trading Tools, allow Expert Advisors, scalping and hedging and provide a personal account manager. The ECN XL account additionally can offer zero commissions (T&Cs apply) and zero mark-up. The ECN Advanced account provides more markets to trade than the other account types (200+ vs 30). In some regions, FXCC can offer 90+ markets on the ECN XL account. All trading styles are allowed at FXCC and a news feed and analysis is available on the website.
- 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
- On the ECN Standard and the ECN XL account, FXCC provides Forex and Metals, with 25+ available. On the ECN Advanced account, FXCC offers 200+ markets. In some regions, FXCC offers Forex, Indices, Energy, Metals and Cryptocurrencies, with 90+ 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 Metals, with 45+ available.
FXCC provides 25+ Forex pairs, HYCM provides 60+ Forex pairs
| Broker | Trading Platforms | Description |
|---|---|---|
| HYCM Broker | MT4, MT5 Trading Platforms | HYCM offers trading on MT4 and its successor MT5, allowing automated trading with EA robots Description |
| FXCC Broker | MT4 Trading Platform | FXCC offers trading on MT4, offering an ECN XL account with low spreads without a commission charge Description |
Cryptocurrency CFDs
- HYCM offers Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Monero, NEO, IOTA, Bitcoin Gold, Ethereum Classic, QTUM and Zcash.
Spreads and leverage
- Both brokers may offer very low Forex spreads for the most liquid Forex pairs, plus a commission charge and in the case of FXCC, without a commission charge. HYCM also offers Forex spreads without a commission charge from 1.3.
- Maximum leverage for FXCC is . Maximum leverage for HYCM (CySEC or FCA regulated) is .
Commission charge
- FXCC's ECN XL account does not charge commissions.
- FXCC's ECN Standard account charges commissions of 0.75 pips per lot per side for Forex and $7.5 per lot per side for Metals.
- FXCC's ECN Advanced account charges commissions of 0.4 pips per lot per side for Forex and $4 per lot per side for Metals, Energy and Indices.
- HYCM charges a commission of $2 per lot per side on the Raw account.
Online trading platforms
Both offer MT4. HYCM additionally provides MT5.
Why FXCC or HYCM ?
Traders who want to trade on MT4 may do so at either FXCC or HYCM. Traders who want to trade on MT5 (the successor to MT4) can find this platform at HYCM. Traders who want to trade using robots can do so at both. Traders who want to trade on an account which can offer low spreads without a commmission charge, can find the ECN XL account at HYCM.
Key comparative difference
FXCC has an account which can offer ECN spreads, without a commission charge, while HYCM offers MT5 in addition to MT4.
Comparison summary
- Both offer CFD trading
- Each provides MT4
- HYCM additionally offers MT5
- Both allow EA robots (for automated trading)
- HYCM offers its ECN XL account, which can have low spreads without a commission charge
