| Online Broker | Minimum Deposit | Trading Platforms | Markets | About |
|---|---|---|---|---|
| FXTM | $10 Minimum Deposit | MT4, MT5 Trading Platforms | 1000+ Markets To Trade | FXTM provides trading on MT4 and MT5, allows automated trading, has a Micro (cent) account with low minimum trade sizes and offers copy trading About |
| HYCM | $20 Minimum Deposit | MT4, MT5 Trading Platform | 300+ Markets To Trade | HYCM provides trading on MT4 and MT5, allowing automated trading with EA robots About |
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 its Advantage and Advantage Plus accounts for MT4 and MT5 and offers as well an MT4 Cent account (its Micro account), allowing very small trade sizes.
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 a Cent account.
Minimum deposit and key account features
The minimum deposit for FXTM is $10 ($50 in the EEA). The minimum deposit for HYCM is $20.
- FXTM offers three account types: Micro, Advantage and Advantage Plus. The minimum deposit for the Micro account is $10 (MT4 only is offered on this account). The minimum deposit for the Advantage and Advantage Plus account is $500. The Micro account is a Cent type account with low minimum trade sizes. The Advantage account offers spreads from 0 plus a commission charge. The Micro and the Advantage Plus accounts offer spreads from 1.5 without a commission charge. FXTM provides Market Analysis Videos and Podcasts, a Forex News Timeline, Education, Market Outlook and an Economic Calendar. Copy trading is provided 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 Raw, Fixed and Classic accounts is $20.
Markets
- FXTM offers Forex, Indices, Energy, Metals and Stocks, with 1000+ 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.
| Broker | Trading Platforms | Description |
|---|---|---|
| HYCM Broker | MT4, MT5 Trading Platforms | HYCM provides trading on MT4 and MT5, allowing automated trading with EA robots Description |
| FXTM Broker | MT4, MT5 Trading Platforms | FXTM provides trading on MT4 and MT5 (offering automated trading) and has a Cent account with a low minimum deposit Description |
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 1.5 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 from $0.40-$2 per lot per side, depending on the equity in the account and the volume traded.
- 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 ?
Traders who want to trade on MT4 or MT5 may do so at either FXTM or HYCM. Traders who want to trade using robots may do so at both. Traders who want to trade on a Cent account can do so at FXTM's Micro account.
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
