HYCM vs IronFX Comparison Table
| Online Broker | Minimum Deposit | Trading Platforms | Markets | About |
|---|---|---|---|---|
| HYCM | $20 Minimum Deposit | MT4, MT5 Trading Platforms | 300+ Markets To Trade | HYCM offers trading on MT4 and MT5, allowing automated trading with EA robots and has a fixed spreads account About |
| IronFX | $50 Minimum Deposit | MT4 Trading Platform | 200+ Markets To Trade | IronFX offers trading on MT4, allowing automated trading and offering a wide range of account types for this platform including fixed spreads and a Cent account and provides social and copy trading platforms About |
HYCM vs IronFX Comparison
These are both MT4 brokers, though HYCM also provides MT5. Each allows automated trading with EA robots. Both offers fixed spreads account, however IronFX has a wide range of account types for MT4.
Quick comparison
Both offer MT4, however HYCM also provides MT5. IronFX has a wide range of MT4 account types.
Minimum deposit and key account features
The minimum deposit for HYCM is $20. The minimum deposit for IronFX is $50.
- 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.
- IronFX offers a range of account types and services. These include a Standard account which has a minimum deposit of $50, a Premium account with a minimum deposit of $2,500 and a VIP account with a minimum deposit of $20,000. These three account types are available with fixed or variable spreads and the spreads can be tighter on higher account types. There is additionally a Cent account, which offers small trade sizes and has a minimum deposit of $50. Social and copy trading is provided via Myfxbook AutoTrade and TradeCopier. The minimum trade size is 0.01 lots except for the Premium and VIP accounts where it is 0.1 lots and the Cent account where it is 0.0001 lots.
- IronFX also offers a Zero Fixed Spread account. This provides zero spreads for some markets, with commissions charged. As well, IronFX offers STP/ECN accounts with or without commissions. It also has an STP/ECN Absolute Zero account, with spreads from zero, with no commission charge. For the Zero Fixed Spread account and the STP/ECN accounts, the minimum deposit is $500. The minimum deposit for the Absolute Zero account is upon request to the account manager.
- All IronFX accounts offer a Dedicated Account Manager, Technical Analysis Reports, Investor Education Tools and Private One-on-One Trading Guidance. The Premium, VIP, STP/ECN No Commission and STP/ECN Zero Spread accounts also offer a Dealing Department Transaction Hotline.
Markets
- 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 Precious Metals, with 45+ available.
- IronFX offers Forex, Indices, Energy, Metals, Cryptocurrencies, Stocks and Soft Commodities, with 200+ available.
HYCM vs IronFX Summary Table
| Broker | Trading Platforms | Description |
|---|---|---|
| HYCM Broker | MT4, MT5 Trading Platforms | HYCM provides trading on MT4 and MT4, allowing automated trading with EA robots Description |
| IronFX Broker | MT4 Trading Platform | IronFX offers trading on MT4, with a wide range of account types for this platform, including fixed spreads, Cent and STP/ECN and provides social and copy trading Description |
Spreads
- 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 IronFX offers Forex spreads without a commission charge from 0.
Commission charge
- HYCM charges a commission of $2 per lot per side on the Raw account.
- IronFX's commission charges are from $6.75 per lot per side for Forex.
Online trading platforms
Both offer MT4. HYCM also has MT5.
Why HYCM or IronFX ?
Traders who want to trade on MT4 can do so at either. Traders who want to trade on MT5 can do so at HYCM. Traders who want to trade with online trading robots, can do so at either. Traders who want to trade with fixed spreads, may do so at both. Traders who want to trade on a Cent account, can do this at IronFX.
Comparison summary
- Both offer CFD trading
- Each has MetaTrader 4 (MT4)
- HYCM additionally provides MT5
- Both offers variable and fixed spreads accounts
- Each allow EA robots
- IronFX has a Cent account and social and copy trading
