HYCM vs USGFX - Online Brokerage Comparison

HYCM vs USGFX | Trading Brokers Comparison

HYCM vs USGFX Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulation
$100MT4, MT5300+FCA, CySEC, DFSA, CIMA
$100MT4, MT560+ASIC

HYCM vs USGFX Comparison

These brokers each offer the MT4 and MT5 trading platforms, though on MT5 HYCM can offer more markets to trade. USGFX is an STP/ECN broker, while HYCM is a market maker broker. USGFX does not charge Forex commissions (as some STP brokers do not as they include it in the spread), while HYCM offers two accounts which do not charge Forex commissions and one which does (and can thus offer low Forex spreads). 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. USGFX is regulated by the ASIC in Australia.

Quick comparison

MT4 and MT5 brokers, though USGFX is STP/ECN and HYCM has more markets to trade on MT5.

Minimum deposit and key account features

The minimum deposit for HYCM is $100. The minimum deposit for USGFX 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.
  • USGFX offers four account types. These are Mini, Standard, VIP and Pro-ECN. The minimum deposit for the Mini account is $100, the minimum deposit for the Standard account is $10,000, and the minimum deposit for both the VIP and Pro-ECN accounts are $50,000. The different account types can offer lower spreads, with the lowest being available on the VIP account. All account types have a minimum trade size of 0.01 lots.
  • USGFX provides Trading Central, the Recognia Trading System (which provides trading ideas), analysis, one on one coaching and an Education Center on its website with webinars, seminars, a trading guide and Blog, along with contests.

Markets

  • HYCM offers Forex, Indices, Energy, Metals, Cryptocurrencies, Stocks and Soft Commodities, 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.
  • USGFX offers Forex, Indices, Energy, Metals and Crypotocurrencies, with 60+ available.

Cryptocurrency CFDs

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

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 USGFX offers Forex spreads from 1.2 without a commission charge.
  • Maximum leverage for HYCM (CySEC or FCA regulated) is . Maximum leverage for USGFX (ASIC regulated) is 500:1.

Commission charge

  • HYCM charges a commission of $2 per lot per side on the Raw account.
  • USGFX does not charge commissions for Forex or Precious Metals. It does charge commissions of $5 per lot per side for CFDs.

Online trading platforms

Both provide MT4. USGFX additionally provides MT5.

Why HYCM or USGFX ?

For traders who wish to trade using automated trading strategies then both brokers allow MT4 and MT5 Expert Advisors. Non-automated traders can use either and USGFX includes a commission charge for traders who prefer to trade this way (robots do not have an issue with trading this way), though it is an STP/ECN broker. USGFX has somewhat more markets on MT4 and HYCM has more markets on MT5.

Comparison summary

  • Both offer CFD trading
  • Each provides MT4 and MT5
  • Both allow Expert Advisors - MT4 and MT5 online trading robots
  • USGFX has more markets on MT4
  • HYCM has more markets on MT5

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