FOREX.com vs HYCM - Trading Brokers Comparison

FOREX.com vs HYCM | Online Brokerage Comparison

HYCM vs FOREX.com Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulation
$50MT4, Web Trader, Advanced Platform (Downloaded), Apps300+FCA, CIMA, ASIC, CFTC, IIROC, SFC, FSA
$100MT4, MT5300+FCA, CIMA, CySEC, DFSA

FOREX.com vs HYCM Comparison

These are both market maker brokers, offering MT4 and supporting the use of Expert Advisors (MT4 automated trading strategies). HYCM additionally provides MT5. FOREX.com additionally has a downloaded Advanced Platform and a Web Trader, for traders who make their own trading decisions.

Both have a similar range and number of markets overall (except for MT4 automated trading, HYCM offers a reduced set of markets than FOREX.com). Both brokers in effect aim to support the styles used by Forex traders, both automated and non-automated, as well as providing a range of other CFD markets, including Stocks CFDs.

Each is regulated by a range of bodies. Both are regulated by the FCA in the United Kingdom and the CIMA in the Cayman Islands. FOREX.com is additionally regulated by the ASIC in Australia, the CFTC in the USA, the IIROC in Canada and the SFC in Japan. HYCM is additionally regulated by the CySEC in Cyprus and the DFSA in Dubai.

Quick comparison

Both offer MT4 and support the use of robots. FOREX.com provides two platforms for traders who make their own trading decisions while HYCM has additional support for automated traders by offering MT5.

Minimum deposit and key account features

The minimum deposit for FOREX.com is $50. The minimum deposit for HYCM is $100.

  • FOREX.com has an Economic Calendar, Market Research and a news feed on its platforms and a Trader Education course on its website. The minimum trade size is 0.01 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

  • FOREX.com offers Forex, Indices, Energy, Stocks, Cryptocurrencies, Metals and Soft Commodities, with 300+ available.
  • HYCM offers Forex, Indices, Energy, Stocks, Cryptocurrencies, Metals and Soft Commodities, with 80+ available on MT4 and 300+ on MT5. On the MT4 Classic and Raw accounts, HYCM offers Forex, Gold and Silver, with 45+ available.

FOREX.com provides 60+ Forex pairs, HYCM provides 60+ Forex pairs.

Cryptocurrency CFDs

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

Leverage

Maximum leverage for HYCM (CySEC or FCA regulated) is . Maximum leverage for FOREX.com (FCA regulated) is .

Commission charge

  • FOREX.com does not charge commissions, except for Shares CFDs.
  • HYCM charges a commission of $2 per lot per side on the Raw account.

Platforms

FOREX.com provides a downloaded Advanced Platform, a Web Trader and MT4. HYCM provides MT4 and MT5.

Why FOREX.com or HYCM ?

For traders who want to run Expert Advisors (EAs) on MT4, both offer this facility. FOREX.com has additional support for traders who make their own trading decisions, by providing two additional platforms. HYCM has further support for automated (and non-automated) traders by offering MT5. HYCM offers a specific account for non-automated traders (the Fixed account), which has more and a wider range of MT4 markets than its accounts which allow EAs, making a similar range to FOREX.com, for automated or non-automated trading.

Comparison summary

  • Each offers CFD trading
  • Both have a similar range of markets for non-automated trading
  • For automated MT4 trading, HYCM has less markets
  • Overall considering MT5, HYCM has more markets for automated trading
  • Both offer MT4
  • FOREX.com also has its Advanced Platform and a Web Trader
  • HYCM also provides MT5
  • Both are regulated by a range of bodies

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