HYCM vs IC Markets - Online Brokerage Comparison

HYCM vs IC Markets | Trading Brokers Comparison

HYCM vs IC Markets Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulation
$100MT4, MT5300+FCA, CySEC, CIMA, DFSA
$200MT4, MT5, cTrader230+ASIC

HYCM vs IC Markets Comparison

Both of these brokers offer MT4 and MT5 and allow the use of Expert Advisors (trading robots) on these platforms. IC Markets also provides cTrader (cTrader allows the use of robots called cBots).

IC Markets is an ECN broker and uses Equinix data centre infrastructure to facilitate high speed order transmission. However HYCM also reports rapid order execution.

IC Markets on MT5 has more markets than HYCM on MT5. HYCM offers Forex and Gold and Silver trading on its MT4 EA supporting accounts, but on its Fixed non-EA account has a wider range, more comparable to IC Markets on MT4.

HYCM is regulated by the FCA in the United Kingdom, the CySEC in Cyprus, the CIMA in the Cayman Islands and the DFSA in Dubai. IC Markets is regulated by the ASIC in Australia.

Quick comparison

IC Markets has more platforms and more markets, but both support automated and non-automated trading on MT4 and MT5.

Minimum deposit and key account features

The minimum deposit for HYCM is $100. The minimum deposit for IC Markets is $200.

  • 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.
  • IC Markets offers four account types. These are Standard, True ECN, Islamic (Swap Free) and the cTrader ECN account. IC Markets provides Forex news, video tutorials and and economic calendar on its website. IC Markets uses Equinix NY4 and London LD5 Servers to deliver low latency trading conditions and has micro (0.01) lot trading.
  • IC Markets's Standard account does not charge a commission, but the True ECN account charges a commission. The cTrader ECN also charges commissions. IC Markets says that the True ECN and cTrader accounts are more suited to EAs and Scalpers, but all trading styles are welcome on each account type.

Markets

  • HYCM offers Forex, Indices, Energy, Cryptocurrencies, Soft Commodities, Stocks and Metals on the Fixed account, with 80+ available on MT4 and 300+ available on MT5. On the Classic and Raw MT4 accounts, HYCM offers Forex, Gold and Silver, with 45+ available.
  • IC Markets offers Forex, Indices, Energy, Cryptocurrencies, Soft Commodities, Stocks, Metals, ETFs and Bonds, with 230+ available on MT5. On MT4, IC Markets offers Forex, Indices, Energy, Cryptocurrencies, Soft Commodities and Metals, with 100+ available.

HYCM provides 60+ Forex pairs, IC Markets provides 60+ Forex pairs.

Cryptocurrency CFDs

  • HYCM offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Monero, NEO, IOTA, Bitcoin Gold, Ethereum Classic, QTUM and Zcash.
  • IC Markets provides Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, DASH, EOS, Emercoin, Namecoin and Peercoin.

Leverage

Maximum leverage for HYCM (CySEC or FCA regulated) is . Maximum leverage for IC Markets (ASIC regulated) is 500:1.

Commission charge

  • HYCM charges a commission of $2 per lot per side on the Raw account.
  • IC Markets charges a commission of $3.50 per lot per side for the True ECN account and the cTrader account charges a commission of $3 per 100,000 USD traded per side. Commissions are charged only for Forex and Metals.

Platforms

HYCM provides MT4 and MT5. IC Markets offers MT4, MT5 and cTrader.

Why HYCM or IC Markets ?

Automated traders wishing to run EAs can use either. Automated traders wishing to run cBots, would need to use IC Markets as it offers cTrader. Those who wish to access a larger number of markets for automated trading could also find either useful as IC Markets has 230+ on MT5 and HYCM has 300+ on MT5. IC Markets is a no dealing desk intervention broker, while HYCM is a market maker. Both report fast order execution (which can be important for automated trading executing strategies which rely on rapid order processing). HYCM has an account which is aimed at traders who do not use automated trading, though IC Markets has an STP account for traders who do not want to trade with a commission charge. A difference then is that IC Markets is an ECN broker and offers cTrader.

Comparison summary

  • Both offer CFD trading
  • IC Markets can offer a wider range for automated MT4 traders
  • HYCM provides somewhat more markets on MT5, though IC Markets has a relatively large number for an ECN broker
  • HYCM has a Fixed account for non automated traders
  • HYCM has two account types which do not charge commissions and one which does
  • IC Markets offers a Standard account type which does not charge commissions, and two which do
  • Both offer Stocks and Crypto CFDs
  • Both have a relatively wide range of Crypto CFDs, though HYCM has more
  • IC Markets is ASIC regulated, HYCM is FCA, CySEC, CIMA and DFSA regulated

Search this site

Translate