HYCM vs IQ Option - CFD Broker Comparison

HYCM vs IQ Option | Online Brokerage Comparison

HYCM vs IQ Option Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarkets
$100MT4, MT5300+
$10Web Trader, Downloaded Platform, Apps300+

HYCM vs IQ Option Comparison

HYCM is an MT4 and MT5 broker, while IQ Option offers trading on its web trader and a downloaded version of this platform. HYCM supports the use of automated trading on its Classic and Raw accounts. IQ Option's trading platform is clear and accessible. Both brokers can offer a similar number of markets to trade. IQ Option has a lower minimum deposit.

Quick comparison

MT4 & MT5 CFD broker (HYCM) vs CFD broker with accessible web trader (IQ Option).

Minimum deposit and key account features

The minimum deposit for HYCM is $100. The minimum deposit for IQ Option is $10.

  • 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.
  • IQ Option has Analysis on its trading platform. The minimum order size is $1.

Markets

  • HYCM offers Forex, Indices, Energy, Soft Commodities, Stocks, Metals and Cryptocurrencies, with 300+ available (there are less on MT4).
  • IQ Option offers Forex, Indices, Energy, Soft Commodities, Stocks, Metals, Cryptocurrencies, ETFs and Options, with 300+ available.

HYCM provides 65+ Forex pairs, IQ Option provides 85+ Forex pairs.

Cryptocurrency CFDs

  • HYCM offers Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Ethereum Classic, QTUM, Monero, NEO, IOTA, Bitcoin Gold and Zcash CFDs.
  • IQ Option offers Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, DASH, Ethereum Classic, QTUM, Zcash, TRON, OmiseGO and EOS CFDs.

Leverage

Maximum leverage for HYCM (CySEC or FCA regulated) is . Maximum leverage for IQ Option is .

Commission charge

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

Platforms

HYCM provides MT4 and MT5, while IQ Option offers a web trader and a downloaded version of this. Both brokers provide apps for mobile and tablet.

Why HYCM or IQ Option ?

For traders who trade using robots, HYCM offers accounts which explicitly support this approach to trading and provides both MT4 and MT5. MT5 is the successor to MT4. At HYCM, MT5 provides more markets on MT5 vs MT4 (300+ vs 80+), putting it on a par with IQ Option which offers 300+ on its trading platform. IQ Option has a human trader oriented, visually pleasant platform.

Comparison summary

  • Both offer CFD trading
  • HYCM is an MT4 and MT5 broker
  • IQ Option provides a user friendly web trader and a downloaded version
  • Both brokers have apps for tablet and mobile
  • HYCM supports automated trading with EAs

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