Compare ForexMart vs HYCM
What is ForexMart? What is HYCM?
ForexMart is an online broker that offers trading in forex, cryptocurrencies, metals, and other instruments. It has a license from the Cyprus Securities and Exchange Commission (CySEC) and provides various client programs and investment ways.
HYCM is an online broker that has over 40 years of experience in the financial markets. It is regulated by the Cayman Islands Monetary Authority (CIMA), the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA), and the Dubai Financial Services Authority (DFSA). It offers trading in forex, stocks, indices, commodities, and cryptocurrencies.
ForexMart vs HYCM Regulation Comparison
Both brokers are regulated by CySEC, which means they have to comply with strict rules regarding client funds protection, risk management, and transparency. However, HYCM has more regulatory licenses than ForexMart, as it is also authorized by CIMA, FCA, and DFSA. This gives HYCM a higher level of credibility and trustworthiness among traders.
ForexMart vs HYCM Trading Assets Comparison
ForexMart offers over 100 trading instruments, including 50 currency pairs, 4 metals, 2 energies, 10 cryptocurrencies, and 40 shares. HYCM offers over 300 trading instruments, including 69 currency pairs, 12 metals, 5 energies, 15 cryptocurrencies, 100+ shares, 28 indices, and 9 commodities. Therefore, HYCM has a wider range of markets to choose from than ForexMart.
ForexMart vs HYCM Trading Fees Comparison
ForexMart has three types of accounts: Classic, Pro, and Zero Spread. The Classic account has no commission but a higher spread starting from 2 pips. The Pro account has a lower spread starting from 1.3 pips but a commission of $2 per lot. The Zero Spread account has no spread but a commission of $20 per lot.
HYCM has four types of accounts: Fixed, Classic, Raw, and VIP. The Fixed account has a fixed spread starting from 1.8 pips and no commission. The Classic account has a variable spread starting from 1.2 pips and no commission. The Raw account has a raw spread starting from 0.2 pips and a commission of $4 per lot. The VIP account has customized conditions for high-volume traders.
Depending on the account type and the trading instrument, both brokers can offer competitive pricing to their clients. However, HYCM’s Raw account seems to have the lowest cost among all the options.
ForexMart vs HYCM Account Types Comparison
ForexMart has three types of accounts: Classic, Pro, and Zero Spread. The minimum deposit for all accounts is $1. The maximum leverage for all accounts is 1:3000.
HYCM has four types of accounts: Fixed, Classic, Raw, and VIP. The minimum deposit for the Fixed and Classic accounts is $100. The minimum deposit for the Raw account is $200. The minimum deposit for the VIP account is $10,000. The maximum leverage for all accounts is 1:500.
Therefore, ForexMart has lower requirements for opening an account than HYCM, but HYCM has more options for different trading styles.
ForexMart vs HYCM Deposit Options Comparison
ForexMart supports various payment methods for depositing and withdrawing funds, such as bank wire transfer, credit/debit cards, Skrill, Neteller, PayPal, PayCo, Paxum, Qiwi Wallet, MegaTransfer, Yandex Money. There are no fees for deposits or withdrawals.
HYCM also supports various payment methods for depositing and withdrawing funds, such as bank wire transfer, credit/debit cards, Skrill, Neteller, WebMoney, Bitcoin, Ethereum, and more. There are no fees for deposits or withdrawals.
Therefore, both brokers have similar options for funding their accounts and do not charge any fees for transactions.
ForexMart vs HYCM Trading Platforms Comparison
ForexMart offers its clients the MetaTrader 4 (MT4) platform for web, desktop, and mobile devices. MT4 is a popular and user-friendly platform that supports multiple charting tools, technical indicators, trading robots, and order types.
HYCM also offers its clients the MT4 platform for web, desktop, and mobile devices. In addition, HYCM provides its own proprietary mobile app called HYCM Trader that allows traders to access their accounts, trade, and use analytical tools from their smartphones.
ForexMart vs HYCM Analytical Tools Comparison
ForexMart provides its clients with various analytical tools, such as economic calendar, market news, forex signals, and technical analysis reviews by email. ForexMart also offers a copytrade system that allows traders to follow and copy the trades of successful traders.
HYCM provides its clients with various analytical tools, such as economic calendar, market news, trading signals, and webinars. HYCM also offers third-party modules from Trading Central that provide technical analysis, market commentary, and trading ideas.
ForexMart vs HYCM. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that depends on your personal preferences, trading goals, and risk appetite. There is no definitive answer to which broker is better, as both ForexMart and HYCM have their own strengths and weaknesses. However, here are some possible factors that you may want to consider:
- Regulation: If you value the security and reputation of your broker, you may prefer HYCM over ForexMart, as HYCM has more regulatory licenses from reputable authorities than ForexMart. This means that HYCM has to follow stricter rules and standards to protect its clients and their funds.
- Trading Assets: If you want to diversify your portfolio and trade a wide range of markets, you may prefer HYCM over ForexMart, as HYCM offers more trading instruments than ForexMart. You can trade forex, stocks, indices, commodities, and cryptocurrencies with HYCM, while ForexMart only offers forex, metals, energies, cryptocurrencies, and shares.
- Trading Fees: If you want to minimize your trading costs and maximize your profits, you may prefer HYCM’s Raw account over ForexMart’s Zero Spread account, as HYCM’s Raw account has lower commissions and spreads than ForexMart’s Zero Spread account. However, if you have a small trading capital and want to use high leverage, you may prefer ForexMart over HYCM, as ForexMart has lower minimum deposit requirements and higher maximum leverage than HYCM.
- Account Types: If you want to have more options and flexibility in choosing your trading conditions, you may prefer HYCM over ForexMart, as HYCM has four types of accounts while ForexMart has three types of accounts. You can choose the account that suits your trading style and preferences with HYCM, while ForexMart has more limited options.
- Deposit and Withdrawal Options: If you want to have more convenience and ease in funding your account and withdrawing your profits, you may not find much difference between ForexMart and HYCM, as both brokers support various payment methods and do not charge any fees for deposits or withdrawals. You can use bank wire transfer, credit/debit cards, e-wallets, and cryptocurrencies with both brokers.
- Trading Platforms: If you want to have a reliable and user-friendly trading platform that supports multiple features and tools, you may not find much difference between ForexMart and HYCM, as both brokers use the MetaTrader 4 (MT4) platform for web, desktop, and mobile devices. MT4 is a popular and widely used platform that offers multiple charting tools, technical indicators, trading robots, and order types. However, if you want to have an extra option for mobile trading with a proprietary app, you may prefer HYCM over ForexMart, as HYCM has its own mobile app called HYCM Trader that allows you to access your account, trade, and use analytical tools from your smartphone.
- Analytical Tools: If you want to have more resources and guidance for market analysis and trading education, you may prefer HYCM over ForexMart, as HYCM offers more analytical tools than ForexMart. You can use economic calendar, market news, trading signals, webinars, and third-party modules from Trading Central with HYCM, while ForexMart only offers economic calendar, market news, forex signals, and technical analysis reviews by email. However, if you want to have a copytrade system that allows you to follow and copy the trades of successful traders, you may prefer ForexMart over HYCM, as ForexMart offers a copytrade system while HYCM does not.
