HYCM vs NSFX - Trading Brokers Comparison

HYCM vs NSFX | Online Brokerage Comparison

HYCM vs NSFX Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulation
$100MT4, MT5300+FCA, CIMA, CySEC, DFSA
$300MT4, JForex60+MFSA

HYCM vs NSFX Comparison

The brokers each offer the MetaTrader 4 (MT4) online trading platform. Each provides accounts which can offer low Forex spreads, plus a competitive commission charge (the Raw account for HYCM and ECN accounts for NSFX). HYCM also provides accounts which do not charge commissions, and can have higher spreads (its Fixed and Classic accounts), as does NSFX (its Classic account).

For its MT4 ECN account, NSFX has a considerably higher minimum deposit ($3000 vs $200). Both brokers thus offer the trader the capacity to trade using MT4 trading robots, Expert Advisors (EAs). For a higher minimum deposit, NSFX can offer JForex, which is a platform which supports automated trading using the JAVA language and also support non-automated trading (as does MT4), in fact it has a relatively large number of technical indicators inbuilt onto the trading platform. For the same minimum deposits as its MT4 accounts, HYCM can also provide MT5, with more markets overall.

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. NSFX is regulated by the MFSA in Malta.

Quick comparison

These both offer MT4 automated trading, though NSFX also provides JForex and HYCM also offers MT5. Each has an account geared for traders who may not wish to use trading robots.

Minimum deposit and key account features

The minimum deposit for HYCM is $100. The minimum deposit for NSFX is $300.

  • 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.
  • NSFX offers three account types. These are the MT4 Fixed, MT4 ECN and JForex accounts. The minimum deposit for the MT4 Fixed account is $300, the minimum deposit for the MT4 ECN account is $3,000 and the minimum deposit for the JForex account is $5,000.
  • The NSFX MT4 Fixed account does not charge commissions, the MT4 ECN and JForex accounts do. On its website NSFX provides Trading Central along with analysis, news and an economic calendar and the NSFX academy which includes an FX Video Course, Trading Examples and Guides and a Forex eBook. Hedging is allowed on all three account types as is micro lot trading but only on the MT4 ECN and JForex accounts are EAs enabled and scalping allowed. An Islamic account is available.

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, Gold and Silver, with 45+ available.
  • NSFX offers Forex, Indices, Energy and Precious Metals on the MT4 ECN and JForex accounts, with 60+ available. On the MT4 Fixed account it offers Forex Major pairs.

HYCM provides 60+ Forex pairs, NSFX provides 55+ Forex pairs.

Cryptocurrency CFDs

  • HYCM offers Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Monero, NEO, IOTA, Bitcoin Gold, Ethereum Classic, QTUM 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 from 3 without a commission charge for NSFX.
  • Maximum leverage for HYCM (CySEC or FCA regulated) is . Maximum leverage for NSFX (MFSA regulated) is .

Commission charge

  • HYCM charges a commission of $2 per lot per side on the Raw account.
  • NSFX's MT4 ECN and JForex accounts charge commissions of $8 per lot round trip (i.e $4 per lot per side).

Online trading platforms

Both offer MT4. NSFX additionally provides JForex. NSFX additionally offers MT5.

Why HYCM or NSFX ?

For traders who wish to use automated trading strategies on MT4 (Expert Advisors), these both brokers can offer accounts tailored for this. NSFX is an ECN broker and additionally provides JForex, which like MT4 supports both automated and non-automated trading. However, HYCM also provides MT4's successor, MT5. For its robot friendly accounts, NSFX has a considerably higher minimum deposit, than HYCM for its Raw account. For the more human trader friendly accounts, the minimum deposits are more comparable, though HYCM's is still less ($100 vs $300). Both have a similar number of MT4 markets, but NSFX has a wider range on its robot friendly accounts. Overall, HYCM offers more markets by providing MT5.

Comparison summary

  • Both offer MT4 trading
  • Each has accounts which support the use of Expert Advisors (EAs)
  • NSFX also provides JForex and offers automated and non-automated trading on this platform
  • HYCM also offers MT5 and has automated and non-automated trading on this platform
  • On MT4, HYCM has a wider range of markets on its Fixed account
  • On MT4, NSFX has a wider range of markets on its ECN accounts vs HYCM's Raw account
  • On MT5, HYCM has more markets overall
  • HYCM's Raw account and NSFX's ECN accounts offer trading with a commission charge (and potentially low Forex spreads)
  • On HYCM's Fixed and Classic accounts Forex trading is offered without a commission charge
  • On NSFX's Classic account, trading is offered without a commission charge
  • HYCM has a lower minimum deposit for its account types
  • NSFX is an ECN broker

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