FXTM vs HYCM - Compare Trading Brokers

FXTM vs HYCM | Online Brokerage Comparison

FXTM vs HYCM Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulation
$5MT4, 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 STP/ECN 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 STP/ECN and cent.

Minimum deposit and key account features

The minimum deposit for FXTM is $5. The minimum deposit for HYCM is $100.

  • FXTM provides three Standard accounts. These are the Standard, Cent and Shares accounts. The minimum deposit for the Cent account is $/€/£5 or ₦1,000 and the minimum deposit for the Standard and Shares account is $/€/£100 or ₦20,000. These are instant execution accounts (they are not no dealing desk). Micro lot trading is available for all account types. Scalping is allowed only on the ECN accounts. FXTM provides a range of tools, including signals, daily market analysis, news and an economic calendar.
  • FXTM offers a number of ECN accounts. There include the FXTM ECN Account, the ECN Zero, the FXTM ECN MT5, the Strategy Account, FXTM Pro and FXTM Pro MT5. The ECN and MT5 accounts charge commissions, the others do not. The minimum deposit for the ECN Zero account is $/€/£200 or ₦20 000, the minimum deposit for the FXTM ECN MT5 account is $/€/£500 or ₦20,000, the minimum deposit for the Strategy Account is $/€/£100 and the minimum deposit for the FXTM Pro accounts is $/€/£25,000 or ₦5,000,000.
  • 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 can offer slightly different numbers of CFD instruments for each ECN account types, which can be between 35+ and 60+. The FXTM ECN account offers 60+. All the accounts provide Forex and Precious Metals, the FXTM ECN account can also offer Energy and Indices.
  • For the non-ECN accounts, FXTM can offer more CFD instruments on the Standard account, with 75+ covering Forex, Precious Metals, Energy and Indices. The Cent account offers less, at 25+, covering Forex and Precious Metals. FXTM also has a non-ECN account which provides 180+ Shares CFDs. The total is 250+ across all accounts.
  • HYCM offers Forex, Indices, Cryptocurrencies, Energy, Metals, 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.

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 STP/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 is 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 ($5 vs $100)
  • HYCM can offer more markets on MT5

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