| Online Broker | Minimum Deposit | Trading Platforms | Markets | About |
|---|---|---|---|---|
| HYCM | $20 Minimum Deposit | MT4, MT5 Trading Platforms | 300+ Markets To Trade | HYCM offers automated trading on MT4 and MT5, allowing EA (Expert Advisor) robots About |
| IC Markets | $200 Minimum Deposit | MT4, MT5, cTrader Trading Platforms | 2500+ Markets To Trade | IC Markets allows automated trading on MT4, MT5 and cTrader, and provides social and copy trading platforms About |
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 uses Equinix data centre infrastructure to facilitate high speed order transmission. However HYCM also reports rapid order execution.
IC Markets additionally provides social and copy trading platforms.
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, the CySEC in Cyprus and the FSA in the Seychelles.
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 $20. 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 Raw, Fixed and Classic accounts is $20.
- IC Markets offers the Standard, Raw Spread, Islamic (Swap Free) and cTrader Raw accounts. IC Markets provides market analysis, Web TV (market commentary and trade ideas in a video), educational articles and video tutorials and an economic calendar on its website. IC Markets provides ZuluTrade and Myfxbook for social and copy trading. 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 Raw Spread and cTrader Raw accounts charge a commission. Scalping, hedging and automated trading are allowed.
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 2500+ 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.
| Broker | Trading Platforms | Description |
|---|---|---|
| HYCM Broker | MT4, MT5 Trading Platforms | HYCM offers MT4 and MT5, allowing automated trading with EA robots Description |
| IC Markets Broker | MT4, MT5, cTrader Trading Platforms | IC Markets allows automated trading on MT4, MT5 and cTrader, and provides social and copy trading platforms Description |
Leverage
Maximum leverage for HYCM (CySEC or FCA regulated) is . Maximum leverage for IC Markets (FSA regulated) is 500:1. Maximum leverage for IC Markets (ASIC or CySEC regulated) is .
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 MT4 and MT5 Raw Spread accounts while the cTrader Raw Spread account charges a commission of $3 per 100,000 USD traded per side.
Online trading 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 2500+ 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 is that IC Markets additionally offers cTrader. Those who want to social and copy trade may do so at IC Markets.
Comparison summary
- Both offer CFD trading
- Each provides MT4 and MT5
- IC Markets additionally offers cTrader
- Both allow EA robots (on MT4 and MT5)
- IC Markets additionally allows cBots robots (on cTrader)
- IC Markets provides social and copy trading platforms
