Broker to Trading

These brokers both offer MT4 and MT5 and allow the trader to run automated trading strategies.

Each has a range of account types. On its accounts supporting the use of MT4 robots (EAs), HYCM has a reduced range. Similarly, on its XM Zero account, so does XM. On MT5, XM can offer more markets (1000+ vs 300+). On MT4, they have a similar number, particularly when considering HYCM's Fixed account.

One difference is that XM can offer its Micro account, which is a cent account, allowing small trade sizes. XM also has a lower minimum deposit, except for its XM Zero account which has the same minimum deposit. For its Raw account which, like the XM Zero account can offer low spreads plus a commission charge, HYCM has a lower minimum deposit ($20 vs $100). Traders can avail of MT4 and MT5 at both traders, and use Expert Advisors.

Both brokers regulated by the CySEC in Cyprus. HYCM is additionally regulated by the DFSA in Dubai and the CIMA in the Cayman Islands. XM is additionally regulated by the ASIC in Australia and the IFSC in Belize.

Quick comparison

Both offer MT4 and MT5. Each supports the use of Expert Advisors. XM also has a cent type account and a lower minimum deposit.

Minimum deposit and key account features

The minimum deposit for HYCM is $20. The minimum deposit for XM is $/£5.

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.
XM CySEC regulated offers three account types, the Micro, Standard and XM Zero accounts, all with minimum deposits of $5. An Islamic account is available for each account type. The Micro and Standard accounts do not charge commissions, the XM Zero account does charge commissions. The Micro and Standard accounts differ in terms of order sizes available. The minimum trade size is 0.0001 lots.
XM ASIC regulated offers the XM Ultra Low account instead of the XM Zero account. XM IFSC regulated offers the Micro, Standard and Ultra Low accounts and a Shares account (with real Shares to own). The minimum deposit for the Ultra Low account is $50. The minimum deposit for the Shares account is $10,000.
XM offers an economic calendar, a personal account manager, video tutorials, daily technical analysis, Forex market research and daily Forex signals, trading tools, market outlook and webinars. XM allows EAs, hedging and scalping.

Markets

• HYCM offers Forex, Indices, Energy, Soft Commodities, Cryptocurrencies, Metals and Stocks, with 300+ available.
• XM offers Forex, Indices, Energy, Soft Commodities, Cryptocurrencies, Metals and Stocks, with 1000+ available on MT5.

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

Leverage

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

Commission charge

• HYCM charges a commission of $2 per lot per side on the Raw account.
• The XM Zero account charges commission of $3.5 per lot per side.

Platforms

Both brokers offer MT4 and MT5.

Why HYCM or XM ?

Traders who want to use MT4 or MT5 can do so at either. Traders who want to trade with robots, can do so at both. Traders who want to trade on a Cent account with a low minimum deposoti, can do this at XM.

Comparison summary

• Both offer CFD trading
• Each provides MT4 and MT5
• Both allow automated trading
• XM has a $5 minimum deposit