HYCM vs Pepperstone - Online Brokerage Comparison

HYCM vs Pepperstone | Brokerage Comparison

HYCM vs Pepperstone Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulation
$100MT4, MT5300+FCA, CySEC, CIMA, DFSA
$200MT4, MT5, cTrader95+FCA, ASIC

HYCM vs Pepperstone Comparison

These brokers share these features: each offers the MT4 and MT5 trading platforms and allows automated trading strategies using Expert Advisors (EAs). Pepperstone though is an ECN broker and provides cTrader (cTrader supports robots called cBots).

Pepperstone and HYCM offer a similar number of markets to trade on MT4. On MT5, HYCM has more. As an ECN broker, Pepperstone provides no dealing desk intervention, while HYCM may intervene in the order process. Both brokers say they can offer fast order execution, and Pepperstone uses Equinix infrastructure to facilitate this.

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. Pepperstone is also regulated by the FCA in the United Kingdom and is additionally regulated by the ASIC in Australia.

Quick comparison

Both are MT4 and MT5 brokers, Pepperstone is an ECN broker offering additionally cTrader.

Automated trading

Both brokers explicitly support trading with robots and provide platforms which allow automated trading strategies, from the trader using ones already built to making their own. Pepperstone's provision of cTrader points to a difference, in that Pepperstone is an ECN broker which aims to connect trader with liquidity, via Pepperstone, without intervening in the order process (while HYCM is a market maker broker). This means that Pepperstone should not restrict trading styles (this said its Razor account is more suitable for styles relying on speed), while HYCM might. Both brokers can offer fast order processing.

Minimum deposit and key account features

The minimum deposit for HYCM is $100. The minimum deposit for Pepperstone is $200 or £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.
  • Pepperstone offers four account types. These are Standard, Razor, Islamic (Swap Free) and Active Traders. Pepperstone provides trading guides, a market review and an economic calendar its website. Pepperstone says that latency is as low as 50ms. The minimum trade size is 0.01 lots.
  • Pepperstone's Standard and Islamic accounts do not charge commissions and hence offer higher spreads as they include a mark up. The Razor account charges commissions and allows scalping.
  • Pepperstone's Active Traders account is for active traders and institutions depositing at least $25,000 and trading at least 250 lots a month. It offers EDGE ECN Execution, a dedicated relationship manager, a segregated customer account, advanced reporting, VPS hosting services and custom solutions.

Markets

  • HYCM offers Forex, Indices, Energy, Soft Commodities, Cryptocurrencies, Metals and Stocks, with 300+ available.
  • Pepperstone offers Forex, Indices, Energy, Soft Commodities, Cryptocurrencies and Metals, with 95+ available.

HYCM provides 60+ Forex pairs, Pepperstone provides 60+ Forex pairs.

Cryptocurrency CFDs

  • HYCM offers Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Monero, NEO, IOTA, Bitcoin Gold, Ethereum Classic, QTUM and Zcash.
  • Pepperstone offers Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash and Dash.

Leverage

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

Commission charge

  • HYCM charges a commission of $2 per lot per side on the Raw account.
  • Pepperstone charges a commission of $3.76 or AU$3.5 or €2.61 per lot per side on the Razor account, depending on the account currency. cTrader commissions are 7 units per lot round trip of the first quoted currency in the traded currency.

Platforms

HYCM provides MT4 and MT5. Pepperstone provides MT4, MT5 and cTrader.

Why HYCM or Pepperstone ?

Traders who trade at their own discretion and/or use robots to trade for them can use either broker: each supports both ways to trade. Pepperstone is an ECN broker and has no dealing desk intervention, but both brokers offer fast order processing. Pepperstone has more trading platforms available, as it offers cTrader, while each provides MT4 and MT5 (HYCM has more markets on MT5). Both brokers are regulated by the FCA in the United Kingdom. Pepperstone is also regulated by the ASIC in Australia. HYCM is regulated by the CIMA in the Cayman Islands and the DFSA in Dubai. The differences in regulation may be a factor for traders resident within the jurisdictions of these different bodies.

Comparison summary

  • Both offer CFD trading
  • Pepperstone is an ECN no dealing desk intervention broker
  • Each supports trading with robots
  • Overall, HYCM has a wider range of markets and can provide more
  • Each offers accounts which charge commissions: Raw for HYCM and Razor for Pepperstone
  • Both also provide accounts which do not charge commissions
  • Each offers MT4 and MT5
  • Pepperstone additionally provides cTrader

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