FXTM vs HYCM - Compare Trading Brokers

FXTM vs HYCM | Online Brokerage Comparison

FXTM vs HYCM Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulation
$10MT4, MT5250+FCA, CySEC, FSCA, FSC
$100MT4, MT5300+FCA, CySEC, DFSA, CIMA

FXTM vs HYCM Comparison

Both brokers allow the trader to trade using Expert Advisors (automated trading strategies) on both the MT4 (MetaTrader 4) and MT5 (MetaTrader 5) online trading platforms. FXTM has a range of account types including ECN accounts and offers as well a cent account, allowing very small trade sizes (hence why it has a low minimum deposit, as a cent account can let the trader trade on a live account with a smaller account size). Overall, HYCM can offer somewhat more markets (on MT5).

FXTM is regulated by the FCA in the United Kingdom, the CySEC in Cyprus and the FSC in Mauritius and is licensed by the FSCA in South Africa.

Quick comparison

Both brokers offer MT4 and MT5, though FXTM has a range of account types including ECN and cent.

Minimum deposit and key account features

The minimum deposit for FXTM is $10. The minimum deposit for HYCM is $100.

  • FXTM offers three Standard account types: Standard, Cent and Shares and three ECN accounts: ECN, ECN Zero and Pro. The minimum deposit for the Cent account is $/€/£10, for the Standard and Shares accounts $/€/£100, for the ECN Zero account $/€/£200, for the ECN account $/€/£500 and for the Pro account the minimum deposit and minimum account balance is $/€/£25,000. The Pro account offers spreads from 0 without a commission charge. FXTM offers Market Analysis and Education on its website. Copy Trading is available via FXTM Invest. The minimum trade size is 0.0001 lots.
  • 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

  • FXTM offers Forex, Indices, Energy, Metals and Stocks, with 250+ available.
  • HYCM offers Forex, Indices, Energy, Metals, Stocks, Cryptocurrencies 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

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

Spreads and leverage

  • Both brokers 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 FXTM offers Forex spreads from 1.3 without a commission charge.
  • Maximum leverage for FXTM (FCA or CySEC regulated) is . Maximum leverage for HYCM (FCA or CySEC regulated) is .

Commission charge

  • FXTM charges a commission starting at $2 per lot per side, depending on the equity in the account and the volume traded. There is no commission charged for the ECN Zero, Strategy or Pro accounts or the non-ECN accounts.
  • HYCM charges a commission of $2 per lot per side on the Raw account.

Online trading platforms

Both brokers offer MT4 and MT5.

Why FXTM or HYCM ?

Both brokers allow the trader to trade with MT4 and MT5 trading robots (Expert Advisors). FXTM has a very low minimum deposit because it offers a cent account, which is a type of MT4 and MT5 account allowing very small trade sizes. This means that the trader (or robot) can potentially trade with a smaller account size, which may be useful when testing out ideas in the real trading market. FXTM also offers ECN accounts, for a higher minimum deposit and other account types. HYCM actually has somewhat more market as it offers 300+ on MT5, versus 250+ for FXTM which offers Stocks CFDs on its Shares account (if Stocks CFDs are offered, they tend to significantly expand the range of markets offered, particularly on platforms other than MT4).

Comparison summary

  • Both offer CFD trading
  • Each has MT4 and MT5
  • Both allow Expert Advisors (EAs)
  • FXTM has a cent account allowing small trade sizes
  • FXTM thus has a smaller minimum deposit ($10 vs $100)
  • HYCM can offer more markets on MT5

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