HYCM vs ThinkMarkets - Trading Brokers Comparison

HYCM vs ThinkMarkets | Online Brokerage Comparison

HYCM vs ThinkMarkets Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulation
$100MT4, MT5300+FCA, CySEC, DFSA, CIMA
NoneMT4, Trade Interceptor200+FCA, ASIC

HYCM vs ThinkMarkets Comparison

Both of these brokers offer the MetaTrader 4 (MT4) trading platform and support the use of both automated and non-automated trading. ThinkMarkets additionally provides Trade Interceptor, which is a user friendly platform designed for human traders who make their own trading decisions. HYCM additionally offers MT5 which is the successor to MT4.

While each has CFD trading, in the UK ThinkMarkets can additionally offer MT4 spread betting. For trading with MT4 EA robots (automated trading strategies), ThinkMarkets has a wider range of markets. On its Fixed non-EA account, HYCM has a more comparable range of MT4 markets. Both brokers are regulated by the FCA in the United Kingdom. HYCM is additionally regulated by the CySEC in Cyprus, the DFSA in Dubai and the CIMA in the Cayman Islands.

Quick comparison

Both brokers offer MT4, though ThinkMarkets also provides Trade Interceptor for non-robot trading, while HYCM offers MT5 for automated and non-automated trading (like MT4). Overall, ThinkMarkets has the lowest minimum deposit (i.e. none), but for trading with a commission charge, HYCM's is lower ($200 vs $500).

Minimum deposit and key account features

The minimum deposit for HYCM is $100. ThinkMarkets does not have a minimum deposit for its Standard account and for its ThinkZero account has a minimum deposit of $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.
  • ThinkMarkets offers both CFD trading and spread betting. It offers the Standard account and the ThinkZero account. An Islamic account is available. There is no minimum deposit for the Standard account. The minimum deposit for the ThinkZero account is $/£500. The Standard account does not charge commissions, ThinkZero account does charge a commission. EAs and scalping are allowed.
  • ThinkMarkets account types provide 24/6 Live Support and a Free VPS Service. The ThinkZero account also provides Autochartist and an account manager.

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.
  • ThinkMarkets provides Forex, Indices, Energy, Metals, Cryptocurrencies and Stocks, with 200+ on offer.

HYCM provides 60+ Forex pairs, ThinkMarkets provided 50+ Forex pairs.

Cryptocurrency CFDs

  • HYCM offers Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Bitcoin Gold, Monero, Zcash, NEO, IOTA, Ethereum Classic and QTUM.
  • ThinkMarkets offers Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Bitcoin Gold, Monero, Zcash, NEO, IOTA, DASH, ETP and OmiseGO.

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 ThinkMarkets offers Forex spreads without a commission charge from 0.4.
  • Maximum leverage for HYCM (CySEC or FCA regulated) is . Maximum leverage for ThinkMarkets (FCA regulated) is . Maximum leverage for ThinkMarkets (ASIC regulated) is 500:1.

Commission charge

  • HYCM charges a commission of $2 per lot per side on the Raw account.
  • ThinkMarkets does not charge a commission on the Standard account and charges a commission of $3.5 per lot per side for its ThinkZero account.

Online trading platforms

Both offer MT4. ThinkMarkets also provides Trade Interceptor. HYCM also offer MT5.

Why HYCM or ThinkMarkets ?

For non-automated trading, HYCM offers a specific account type, while ThinkMarkets has a platform aimed at this kind of trading (Trade Interceptor). Both provide MT4, allowing the trader to trade with Expert Advisors (EAs) automated trading strategies if they wish, though HYCM also offers MT5 (MT4's successor). Overall, HYCM can offer more markets.

Comparison summary

  • Both are CFD brokers
  • Each provides MT4
  • In the UK, ThinkMarkets can offer MT4 spread betting
  • Both support the use of Expert Advisors (i.e. online trading robots)
  • On its non-EA account, HYCM offers a range of MT4 markets comparable to ThinkMarkets
  • Overall, HYCM has more markets, on MT5
  • ThinkMarkets has no minimum deposit, except for its ThinkZero account which has one of $500
  • HYCM's Raw account like ThinkMarkets's ThinkZero account can offer very low spreads plus a commission charge
  • HYCM has a lower minimum deposit Raw vs ThinkZero

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