Compare HYCM vs Orbex
What is HYCM? What is Orbex?
HYCM is a forex broker that has been serving traders since 1977. It is regulated by multiple authorities, including the FCA, CySEC, DFSA, and CIMA. It offers trading on various assets, such as forex, metals, indices, stocks, commodities, and cryptocurrencies.
Orbex is a forex broker that was founded in 2011. It is regulated by CySEC and offers trading on forex, metals, energies, indices, and stocks.
HYCM vs Orbex Regulation Comparison
HYCM is regulated by four reputable authorities: the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, the Dubai Financial Services Authority (DFSA) in the UAE, and the Cayman Islands Monetary Authority (CIMA) in the Cayman Islands. These regulators ensure that HYCM complies with high standards of financial security, transparency, and fair trading practices.
Orbex is regulated by one authority: the Cyprus Securities and Exchange Commission (CySEC) in Cyprus. CySEC is a well-known regulator in the European Union that follows the MiFID II directive and provides investor protection up to €20,000 per client.
HYCM vs Orbex Trading Assets Comparison
HYCM offers a wide range of trading assets, including over 60 currency pairs, 15 indices, 100 stocks, 15 commodities, and 10 cryptocurrencies. HYCM also provides access to ETFs and Islamic accounts.
Orbex offers a narrower range of trading assets, including 36 currency pairs, 11 indices, 3 energies, 5 metals, and over 50 stocks. Orbex does not offer trading on cryptocurrencies or ETFs.
HYCM vs Orbex Trading Fees Comparison
HYCM charges different fees depending on the account type and the asset class. HYCM offers four account types: Fixed, Classic, Raw, and VIP. The Fixed account has fixed spreads starting from 1.8 pips and no commissions. The Classic account has variable spreads starting from 1.2 pips and no commissions. The Raw account has variable spreads starting from 0.2 pips and a commission of $4 per lot per side. The VIP account has variable spreads starting from 0.8 pips and a commission of $2 per lot per side.
Orbex charges different fees depending on the account type and the asset class. Orbex offers four account types: Standard, Premium, Ultimate, and Zero Spread. The Standard account has variable spreads starting from 1.5 pips and no commissions. The Premium account has variable spreads starting from 1.2 pips and no commissions. The Ultimate account has variable spreads starting from 0.8 pips and no commissions. The Zero Spread account has variable spreads starting from 0 pips and a commission of $10 per lot per side.
HYCM vs Orbex Account Types Comparison
HYCM offers four account types: Fixed, Classic, Raw, and VIP. The minimum deposit for each account type is $100, except for the VIP account which requires $10,000. The maximum leverage for each account type is 1:200 for forex and metals, 1:100 for indices and commodities, and 1:20 for stocks and cryptocurrencies.
Orbex offers four account types: Standard, Premium, Ultimate, and Zero Spread. The minimum deposit for each account type is $200 for Standard and Premium accounts, $5000 for Ultimate accounts, and $500 for Zero Spread accounts. The maximum leverage for each account type is 1:500 for forex and metals, 1:200 for indices and energies, and 1:20 for stocks.
HYCM vs Orbex Deposit Options Comparison
HYCM supports various deposit and withdrawal options, such as bank wire transfer, credit/debit cards (Visa/Mastercard), e-wallets (Skrill/Neteller/WebMoney), online banking (Sofort/Klarna/Trustly/iDeal), prepaid cards (Paysafecard), cryptocurrencies (Bitcoin/Ethereum), and local payment methods (Fasapay/UnionPay/Netbanx). HYCM does not charge any fees for deposits or withdrawals.
Orbex supports fewer deposit and withdrawal options than HYCM. They include bank wire transfer, credit/debit cards (Visa/Mastercard), e-wallets (Skrill/Neteller), online banking (Sofort/Klarna/Trustly/iDeal), and local payment methods (Fasapay/UnionPay). Orbex does not charge any fees for deposits or withdrawals.
HYCM vs Orbex Trading Platforms Comparison
HYCM and Orbex both use the MetaTrader 4 and MetaTrader 5 platforms as their main trading platforms. These platforms are widely used and trusted by traders around the world. They offer advanced charting tools, technical indicators, automated trading, and customizability. They are also compatible with various devices, such as desktops, laptops, tablets, and smartphones.
HYCM also provides a proprietary mobile app called HYCM Trader, which allows traders to access their accounts, place orders, monitor the markets, and manage their risks on the go. Orbex does not have a proprietary mobile app.
HYCM vs Orbex Analytical Tools Comparison
HYCM offers various analytical tools to help traders make informed decisions. These include daily market analysis, trading signals, webinars, seminars, ebooks, videos, and articles. HYCM also provides access to third-party modules from Trading Central, a leading provider of technical analysis and market research.
Orbex also offers various analytical tools to help traders improve their skills. These include daily market analysis, webinars, ebooks, videos, articles, and podcasts. Orbex also provides access to Trading Central services, as well as Autochartist, a powerful tool that scans the markets for trading opportunities based on chart patterns and technical indicators.
HYCM vs Orbex. Which forex broker is better? Which forex broker should you choose?
There is no definitive answer to which forex broker is better or which one you should choose. It depends on your personal preferences, trading style, and goals. However, here are some pros and cons of each broker to help you make an informed decision.
HYCM Pros:
- HYCM is a well-established and reputable broker with over 40 years of experience in the industry .
- HYCM is regulated by four reputable authorities, which ensures high standards of financial security, transparency, and fair trading practices .
- HYCM offers a wide range of trading assets, including forex, metals, indices, stocks, commodities, and cryptocurrencies .
- HYCM offers four account types with different features and fees to suit different trading styles and budgets .
- HYCM supports various deposit and withdrawal options, including bank wire transfer, credit/debit cards, e-wallets, online banking, prepaid cards, cryptocurrencies, and local payment methods .
- HYCM does not charge any fees for deposits or withdrawals .
- HYCM provides a proprietary mobile app called HYCM Trader, which allows traders to access their accounts, place orders, monitor the markets, and manage their risks on the go .
- HYCM offers various analytical tools to help traders make informed decisions, such as daily market analysis, trading signals, webinars, seminars, ebooks, videos, and articles . HYCM also provides access to third-party modules from Trading Central .
HYCM Cons:
- HYCM does not offer trading on ETFs .
- HYCM has relatively high spreads compared to some other brokers .
- HYCM has a high commission for the Raw account type ($4 per lot per side) .
Orbex Pros:
- Orbex is a regulated broker that follows the MiFID II directive and provides investor protection up to €20,000 per client .
- Orbex offers four account types with different features and fees to suit different trading styles and budgets .
- Orbex does not charge any fees for deposits or withdrawals .
- Orbex offers various analytical tools to help traders improve their skills, such as daily market analysis, webinars, ebooks, videos, articles, and podcasts . Orbex also provides access to Trading Central services and Autochartist .
Orbex Cons:
- Orbex is regulated by only one authority (CySEC), which may not be enough for some traders who prefer more regulatory oversight .
- Orbex offers a narrower range of trading assets than HYCM. It does not offer trading on cryptocurrencies or ETFs .
- Orbex has a high commission for the Zero Spread account type ($10 per lot per side)
