Compare BlackBull Markets vs HYCM
What is BlackBull Markets? What is HYCM?
BlackBull Markets is a New Zealand-based online broker that offers forex, CFDs, commodities, indices, and cryptocurrencies trading. It was founded in 2014 and is regulated by the Financial Markets Authority (FMA) of New Zealand. It claims to provide fast execution, low spreads, and ECN liquidity to its clients.
HYCM is a global online broker that offers forex, CFDs, metals, energies, stocks, indices, and cryptocurrencies trading. It was founded in 1977 and is regulated by multiple authorities, including the Financial Conduct Authority (FCA) of the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Dubai Financial Services Authority (DFSA). It claims to offer competitive pricing, advanced trading platforms, and educational resources to its clients.
BlackBull Markets vs HYCM Regulation Comparison
Both brokers are regulated by reputable authorities in their respective jurisdictions. However, HYCM has more global licenses than BlackBull Markets, which may indicate a higher level of trustworthiness and security for its clients. HYCM holds three Tier-1 licenses from the UK, Hong Kong, and Japan, while BlackBull Markets holds only one Tier-1 license from New Zealand. HYCM also holds one Tier-2 license from Cyprus, while BlackBull Markets holds none.
BlackBull Markets vs HYCM Trading Assets Comparison
Both brokers offer a wide range of trading instruments, including forex, CFDs, commodities, indices, and cryptocurrencies. However, BlackBull Markets has a much larger number of tradeable symbols than HYCM, with over 26,000 assets available compared to HYCM’s 1,199 assets. BlackBull Markets also offers more forex pairs (72 vs 70), more indices (12 vs 11), more commodities (15 vs 8), and more cryptocurrencies (6 vs 5) than HYCM.
BlackBull Markets vs HYCM Trading Fees Comparison
Both brokers charge variable spreads on their trades, which depend on the market conditions and the account type chosen by the client. However, BlackBull Markets offers lower spreads than HYCM on average, especially on its ECN Prime account. BlackBull Markets offers spreads of 0.827 pips on EUR/USD on its Standard account and 0.1 pips on its ECN Prime account, while HYCM offers spreads of 0.6 pips on EUR/USD on its Classic account and 0.2 pips on its Raw account. BlackBull Markets also does not charge any commissions on its Standard account, while HYCM charges $4 per lot on its Raw account.
BlackBull Markets vs HYCM Account Types Comparison
Both brokers offer different account types to suit the needs and preferences of different traders. However, BlackBull Markets has a lower minimum deposit requirement than HYCM for most of its accounts.
BlackBull Markets offers three account types: Standard ($0 minimum deposit), ECN Prime ($2,000 minimum deposit), and ECN Institutional ($20,000 minimum deposit). HYCM offers four account types: Classic ($20 minimum deposit), Raw ($200 minimum deposit), VIP ($10,000 minimum deposit), and Islamic ($20 minimum deposit).
BlackBull Markets vs HYCM Deposit Options Comparison
Both brokers offer multiple payment methods for depositing and withdrawing funds from their accounts. However, BlackBull Markets has more options than HYCM in terms of currencies and methods supported.
BlackBull Markets supports 10 currencies (USD, EUR, GBP, NZD, AUD, CAD, JPY, SGD, CHF, ZAR) and 12 methods (bank wire transfer, credit/debit card, Skrill, Neteller, FasaPay, UnionPay, SticPay, Perfect Money, Ngan Luong Wallets). HYCM supports 6 currencies (USD, EUR, GBP, AED, RUB, KWD) and 8 methods (bank wire transfer, credit/debit card, Skrill, Neteller, WebMoney, Bitcoin, Ethereum).
BlackBull Markets vs HYCM Trading Platforms Comparison
Both brokers offer MetaTrader 4 (MT4) and MetaTrader 5 (MT5) as their main trading platforms. These are popular and widely used platforms that offer advanced charting tools, technical indicators, automated trading, and mobile trading.
However, HYCM also offers its own proprietary platform, HYCM Trader, which is a web-based platform that allows traders to access the markets from any browser and device. HYCM Trader offers a user-friendly interface, customisable charts, and one-click trading.
BlackBull Markets vs HYCM Analytical Tools Comparison
Both brokers offer various analytical tools to help traders make informed decisions and improve their trading performance. However, HYCM has more tools than BlackBull Markets in terms of research and education. HYCM offers Trading Central, which is a third-party service that provides technical analysis, market commentary, and trading signals. HYCM also offers daily market news from top-tier sources, webinars, videos, and an investor dictionary. BlackBull Markets offers Autochartist, which is a third-party service that provides automated pattern recognition, market scans, and volatility analysis. BlackBull Markets also offers daily market commentary, webinars, videos, and an investor dictionary.
BlackBull Markets vs HYCM. Which forex broker is better? Which forex broker should you choose?
Different brokers may suit different traders better. However, here are some factors that can help you decide:
- If you are looking for a broker with more global licenses and higher trust score, you may prefer HYCM over BlackBull Markets.
- If you are looking for a broker with more trading instruments and lower spreads, you may prefer BlackBull Markets over HYCM.
- If you are looking for a broker with lower minimum deposit requirements and more payment options, you may prefer BlackBull Markets over HYCM.
- If you are looking for a broker with a proprietary platform and more analytical tools, you may prefer HYCM over BlackBull Markets.
Ultimately, the best way to find out which broker is better for you is to try them out yourself. You can open a demo account with both brokers and test their platforms, services, and features before making a final decision.
