HYCM vs UFX - Online Brokerage Comparison

HYCM vs UFX | CFD Broker Comparison

HYCM vs UFX Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulation
$100MT4, MT5300+FCA, CySEC, DFSA, CIMA
$100MT4, ParagonEx450+CySEC

HYCM vs UFX Comparison

Both of these brokers offer MT4, though HYCM also offers MT5 (MT4's successor). UFX's main platform is ParagonEx, which is an online trading platform with a crowd trading news feed. This news feed contains market news and information about the reactions and sentiments of traders to it. HYCM's platforms are MT4 and MT5, and it offers a range of account types built around them. These are an account which has a wider range of markets, but does not allow Expert Advisors (MT4 and MT5's automated trading strategies) and two accounts which do, one of which charges commissions and one of which does not. UFX does not charge commissions and provides fixed spreads under normal market conditions. 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. UFX is regulated by the CySEC in Cyprus.

Quick comparison

UFX is a crowd trading broker which additionally provides MT4, while HYCM is an MT4 and MT5 broker with a range of account types for this platform.

Minimum deposit and key account features

The minimum deposit for HYCM is $100. The minimum deposit for UFX is $100.

  • 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.
  • UFX provides CFD trading on six account types, Micro/Mini, Mini, Standard, Gold, Platinum and Islamic. The minimum initial deposit is $100 for the Micro/Mini account, $500 for the Mini account, $1000 for the Islamic and Standard accounts, $5000 for the Gold account and $10,000 for the Platinum account. The minimum trade size ranges from 0.0025 lots for the Micro/Mini account to 1 lot for the Platinum account.
  • All UFX account types have daily market reviews, a video library, daily recommendations and 24hr live support. All except the Micro/Mini account provide a personal trading coach. Standard, Gold and Platinum accounts also have VIP trading support and exclusive updates. Gold and Platinum additionally provide SMS trading alerts and access to MT4. At UFX there is a one minute minimum time after a position has been opened until it can be closed.

Markets

  • HYCM offers Forex, Indices, Energy, Soft Commodities, Stocks, Metals 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.
  • UFX offers Forex pairs, Indices, Energy, Soft Commodities, Stocks, Precious Metals and ETFs, with 450+ available.

HYCM has 45+ Forex pairs, UFX has 45+ 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

  • HYCM 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 UFX offers fixed Forex spreads from 2 without a commission charge.
  • Maximum leverage for HYCM (CySEC or FCA regulated) is . Maximum leverage for UFX is .

Commission charge

  • HYCM charges a commission of $2 per lot per side on the Raw account.
  • UFX does not charge commissions.

Online trading platforms

Both offer MT4. UFX's main platform is ParagonEx. HYCM also offers MT5.

Why HYCM or UFX ?

Traders who wish to trade using their own discretion may wish to consider UFX, as it offers a very user friendly platform with a crowd trading news feed, which adds crowd reactions and sentiments to market news events. This can help inform the trader as they make their own trading decisions. UFX does also offer MT4, which has support for automated trading, however this is only available for Gold and Platinum account holders. HYCM is an MT4 and MT5 broker, and offers account support for both automated and non-automated trading. HYCM has a considerably lower minimum deposit to use MT4 ($100 vs $5000). This said, UFX has the same minimum deposit ($100) to use ParagonEx as HYCM does for MT4 and MT5.

Comparison summary

  • Both offer CFD trading
  • Each has MT4
  • UFX has a higher minimum deposit to use MT4
  • HYCM additionally provides MT5
  • UFX's main platform is ParagonEx
  • UFX has the same minimum deposit to use ParagonEx as HYCM does to use MT4 or MT5
  • ParagonEx has a crowd trading news feed
  • HYCM offers accounts supporting both automated and non-automated trading
  • UFX has a range of account types offering added features for higher minimum deposits

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