| 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 About |
| RoboMarkets | $100 Minimum Deposit | MT4, MT5, R StocksTrader Trading Platforms | 12,000+ Markets To Trade | RoboMarkets offers trading on MT4 and MT5, offers a Cent account (with low trade sizes) and has 12,000+ Stocks CFDs on R StocksTrader About |
HYCM vs RoboMarkets Comparison
Both brokers allow the trader to trade using automated trading strategies and to make their own trading decisions. To execute trades on behalf of the trader, each broker offers MT4 and MT5. RoboMarkets additionally provides R StocksTrader, which allows strategies to be built without programming and to be run 24/7 on the cloud (versus using a VPS for MT4 or MT5). R StocksTrader has the bulk of RoboMarkets's markets, offering 12,000+ mostly Stocks CFDs. On MT5 HYCM still has a significant offering for this platform, with 300+. Both brokers have a similar number on MT4.
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.
RoboMarkets is regulated by the CySEC in Cyprus.
Quick comparison
Both brokers offer MT4 and MT5. RoboMarkets has considerably more markets on its R StocksTrader platform and provides ECN accounts as well as other account types including a Cent account.
Minimum deposit and key account features
The minimum deposit for HYCM is $20. The minimum deposit for RoboMarkets is $100.
- 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 all account types is $20. 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.
- RoboMarkets offers accounts based around its three platforms, MT4, MT5 and R StocksTrader. MT4 and MT5 each offer a Pro-Standard, Pro-Cent, ECN and Prime accounts. RoboMarkets's R StocksTrader is a web trading platform, which has many more markets available than the other accounts. RoboMarkets also offers a CopyFX account (which supports transaction copying) and a RAMM account (which supports strategy copying).
- RoboMarkets's minimum deposit for all accounts is $100. The Prime account is an ECN account with lower commission charges. RoboMarkets offers an Islamic (Swap Free) version for some of these accounts. The minimum trade size is 0.0001 lots. RoboMarkets provides a range of tools including analysis, an economic calendar, webinars and education. It offers the R StocksTrader Strategy Builder for building robots. EAs and scalping are allowed at RoboMarkets.
Markets
- HYCM offers Forex, Indices, Energy, Metals, Stocks, Soft Commodities and Cryptocurrencies, 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.
- RoboMarkets offers Forex, Indices, Energy, Metals, Stocks, Soft Commodities, Cryptocurrencies and ETFs, for a total of 12,000+.
| Broker | Trading Platforms | Description |
|---|---|---|
| HYCM Broker | MT4, MT5 Trading Platforms | HYCM offers trading on MT4 and MT5 (allowing automated trading) Description |
| RoboMarkets Broker | MT4, MT5, R StocksTrader Trading Platforms | RoboMarkets provides trading on MT4 and MT5 (allowing automated trading), provides R StocksTrader, with 12,000+ CFDs to trade and offers a Cent account Description |
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 RoboMarkets offers Forex spreads from 1.6 without a commission charge.
- Maximum leverage for HYCM (CySEC or FCA regulated) is . Maximum leverage for RoboMarkets (CySEC regulated) is .
Commission charge
- HYCM charges a commission of $2 per lot per side on the Raw account.
- RoboMarkets commission are $2 per lot per side for its ECN accounts except for its Prime account where they are $1.5 per lot per side.
Online trading platforms
Both brokers provide MT4 and MT5. RoboMarkets additionally provides R StocksTrader.
Why HYCM or RoboMarkets ?
Traders who wish to trade using automated trading strategies can consider either brokers, as both support this type of trading allowing Expert Advisors on MT4 and MT5. RoboMarkets additionally offers cloud based robot trading via R StocksTrader (versus using a VPS) and lets the trader build robots using a strategy builder tool on the platform. Traders who wish to trade Stocks CFDs can note that both brokers offer this facility. However RoboMarkets provides its Stocks on R StocksTrader, offering many more than HYCM. But HYCM provides Stocks CFDs on MT4 and MT5 (with more on MT5).
Comparison summary
- Both brokers offer CFD trading
- RoboMarkets has a Cent account allowing very small trade sizes on MT4 and MT5
- Each provides MT4 and MT5
- RoboMarkets additionally offers R StocksTrader
- RoboMarkets can offer many more markets on R StocksTrader
- HYCM has considerably more MT5 vs MT5
- HYCM offers MT4 and MT5 Stocks CFD trading
- Both allow Expert Advisors
- RoboMarkets also has a trading strategy builder for automated trading on R StocksTrader
