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, MT5, Trade Interceptor1000+FCA, ASIC, FSCA

HYCM vs ThinkMarkets Comparison

Both of these brokers offer the MetaTrader 4 (MT4) trading platform along with MetaTrader 5 (MT5) 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.

While each has CFD trading, in the UK ThinkMarkets can additionally offer MT4 and MT5 spread betting. Overall, ThinkMarkets can offer more markets to trade on MT5.

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. ThinkMarkets is additionally licensed by the FSCA in South Africa.

Quick comparison

Both brokers offer MT4 and MT5, though ThinkMarkets also provides Trade Interceptor. 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. The minimum trade size is 0.01 lots.
  • ThinkMarkets account types provide 24/6 Live Support and a Free VPS Service, T&Cs apply. The ThinkZero account also offers AutoChartist and an account manager. ThinkMarkets offers Market News, Webinars, an Economic Calendar and Tutorials on its website.

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, Stocks and Soft Commodities, with 1000+ 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 itcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash.

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 and MT5. ThinkMarkets also provides Trade Interceptor. Each offers mobile apps.

Why HYCM or ThinkMarkets ?

Traders who want to trade on MetaTrader 4 (MT4) or MetaTrader 5 (MT5), the successor to MT4 may do at either broker. Traders may trade with or without robots (EAs) on both platforms. ThinkMarkets has more markets overall, on MT5 (1000+). Traders who wish to trade on a user friendly platform designed for the trader who executes their own trades, can find Trade Interceptor at ThinkMarkets.

Comparison summary

  • Both provide CFD trading
  • In the UK, ThinkMarkets additionally offers MT4 and MT5 spread betting
  • Both provide MT4 and MT5
  • Each allows EAs (for automated trading)
  • ThinkMarkets additionally offers Trade Interceptor
  • ThinkMarkets has more markets overall, on MT5

Search this site

Translate