Compare HYCM vs Markets.com
What is HYCM? What is Markets.com?
HYCM is a forex and CFD broker that has been operating since 1977. It is part of the Henyep Group, a global conglomerate with interests in financial services, property, education, and charity. HYCM offers trading on various instruments, including forex, stocks, indices, commodities, and cryptocurrencies.
Markets.com is an online trading platform that was founded in 1999. It is owned by Playtech PLC, a FTSE 250 company listed on the London Stock Exchange. Markets.com offers trading on a wide range of assets, such as forex, stocks, ETFs, indices, commodities, and cryptocurrencies.
HYCM vs Markets.com Regulation Comparison
Both brokers are regulated by multiple authorities in different jurisdictions. HYCM holds licenses from 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.
Markets.com holds licenses from the Australian Securities and Investments Commission (ASIC) in Australia, the Financial Sector Conduct Authority (FSCA) in South Africa, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, and the British Virgin Islands Financial Services Commission (BVI FSC) in the British Virgin Islands.
HYCM vs Markets.com Trading Assets Comparison
Markets.com offers more trading assets than HYCM. Markets.com provides access to 2179 CFDs, while HYCM offers 1199 CFDs. Markets.com also has more forex pairs than HYCM, with 57 pairs versus 70 pairs. However, HYCM has more options for non-CFD trading, such as physical stocks and Islamic accounts
HYCM vs Markets.com Trading Fees Comparison
HYCM has lower trading fees than Markets.com for most instruments. HYCM offers two types of accounts: Fixed and Raw. The Fixed account has fixed spreads starting from 1.8 pips for major forex pairs and no commission. The Raw account has variable spreads starting from 0.2 pips for major forex pairs and a commission of $4 per round lot. Markets.com has only one type of account, which has variable spreads starting from 1.9 pips for major forex pairs and no commission. Both brokers charge overnight fees for holding positions open past market hours.
HYCM vs Markets.com Account Types Comparison
HYCM has more account types than Markets.com. HYCM offers four types of accounts: Fixed, Raw, VIP, and Islamic. The Fixed account requires a minimum deposit of $100, the Raw account requires a minimum deposit of $200, the VIP account requires a minimum deposit of $10,000, and the Islamic account requires a minimum deposit of $100. Markets.com offers only one type of account, which requires a minimum deposit of $100.
HYCM vs Markets.com Deposit Options Comparison
Both brokers offer similar deposit and withdrawal options. Both brokers accept credit/debit cards, bank wire transfers, Skrill, Neteller, WebMoney, and other e-wallets as payment methods. Both brokers do not charge any fees for deposits or withdrawals. However, HYCM has a faster processing time for withdrawals than Markets.com. HYCM processes withdrawals within one business day, while Markets.com processes withdrawals within two to five business days
HYCM vs Markets.com Trading Platforms Comparison
Both brokers offer MetaTrader 4 (MT4) and MetaTrader 5 (MT5) as their main trading platforms. Both brokers also have their own proprietary platforms: HYCM Trader for HYCM and Marketsx for Markets.com. Both proprietary platforms are available as web-based platforms or mobile apps for iOS and Android devices. Both proprietary platforms offer advanced features such as charting tools, indicators, trading signals, news feeds, economic calendars, and market sentiment analysis.
HYCM vs Markets.com Analytical Tools Comparison
Both brokers offer similar analytical tools to their clients. Both brokers provide access to Trading Central, a leading provider of technical analysis and market insights. Both brokers also offer educational resources such as webinars, videos, articles, e-books, glossaries, and FAQs to help traders learn more about trading.
However, Markets.com has more research tools than HYCM. Markets.com offers tools such as Trending Now, Analyst Recommendations, Events & Trade, Trading Cubes, and Multi Charts.
HYCM vs Markets.com. 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, goals, and risk appetite. However, here are some pros and cons of each broker to help you make an informed decision.
HYCM Pros:
- Lower trading fees for most instruments
- More account types to suit different needs
- Faster withdrawal processing time
- More options for non-CFD trading, such as physical stocks and Islamic accounts
HYCM Cons:
- Fewer trading assets than Markets.com
- No commission-free account option
- No ASIC or FCA regulation
Markets.com Pros:
- More trading assets than HYCM
- Commission-free account option
- ASIC and FCA regulation
- More research tools than HYCM
Markets.com Cons:
- Higher trading fees for most instruments
- Only one account type available
- Slower withdrawal processing time
Ultimately, the choice is yours. You should consider your own trading objectives, experience level, and risk tolerance before choosing a broker. You should also do your own research and read the reviews and ratings of other traders who have used these brokers.
