HYCM vs IronFX - Brokerage Comparison For Online Trading

HYCM vs IronFX | CFD Broker Comparison

HYCM vs IronFX Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulation
$100MT4, MT5300+FCA, CySEC, DFSA, CIMA
$100MT4200+FCA, CySEC, ASIC, FSCA

HYCM vs IronFX Comparison

These are both MT4 brokers, though HYCM also provides MT5. Each supports automated and non-automated trading. IronFX has a range of account types, divided into STP/ECN accounts and Micro, Premium and VIP accounts. HYCM has one account which charges commission can offer low Forex spreads and two other accounts which do not. IronFX can offer more markets to trade on MT4, but overall, HYCM has more, on MT5.

HYCM is regulated by the FCA in the United Kingdom, the CySEC in Cyprus, the DFSA in Dubai and the CIMA in the Cayman Islands. IronFX is regulated by the FCA in the United Kingdom, the CySEC in Cyprus, the ASIC in Australia and the FSCA in South Africa.

Quick comparison

Both are MT4 brokers, though IronFX can offer more markets to trade on this platform, however both have a similar range. HYCM additionally offers MT5 and has more market overall.

Minimum deposit and key account features

The minimum deposit for HYCM is $100. The minimum deposit for IronFX is $100, but for STP/ECN trading it is $500.

  • 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.
  • IronFX offers a range of account types and services. These include a Micro account which has a minimum deposit of $100, 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. The minimum trade size is 0.01 lots except for the Premium and VIP accounts where it is 0.1 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 account, 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.

Cryptocurrency CFDs

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

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 IronFX offers Forex spreads without a commission charge from 0.5 (on the VIP account).
  • Maximum leverage for HYCM (CySEC or FCA regulated) is . Maximum leverage for IronFX (FCA or CySEC regulated) is . Maximum leverage for IronFX (ASIC regulated) is 1000:1.

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 MT4.

Why HYCM or IronFX ?

Automated traders who wish to trade using MT4 with Expert Advisors (EAs) can do this at either broker. Non-automated traders can also use either broker and both have accounts aimed at these traders. HYCM additionally provides the successor to MT4, namely MT5 and can offer more markets overall though IronFX has more, when considering MT4.

Comparison summary

  • Both offer CFD trading
  • Each has MetaTrader 4 (MT4)
  • IronFX has more markets on MT4 (200+ vs 80+)
  • HYCM also offers MT5 and has more markets (300+)
  • Each can provide accounts which charge a commission and can offer low spreads
  • Both can offer trading which does not charge a commission
  • Each supports automated and non-automated trading

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