FP Markets is an Australian-based broker that was founded in 2005 and is regulated by ASIC and CySEC. It offers over 10,000 trading instruments, including forex, stocks, indices, commodities and cryptocurrencies. It supports the MetaTrader 4, MetaTrader 5 and IRESS platforms, as well as social trading and copy trading features.
HYCM is a UK-based broker that was founded in 1977 and is regulated by FCA, CySEC, DFSA and CIMA. It offers over 1,000 trading instruments, including forex, stocks, indices, commodities and cryptocurrencies. It supports the MetaTrader 4 platform, as well as mobile trading apps.
FP Markets vs HYCM Regulation Comparison
Regulator
FP Markets
HYCM
Australia (ASIC)
Yes
No
UK (FCA)
No
Yes
Cyprus (CySEC)
Yes
Yes
Hong Kong (SFC)
No
Yes
UAE (DFSA)
No
Yes
Cayman Islands (CIMA)
No
Yes
South Africa (FSCA)
Yes
No
FP Markets vs HYCM Trading Assets Comparison
Asset Class
FP Markets
HYCM
Forex Pairs
71
70
CFD Stocks
Over 10,000
Over 100
Indices
Over 60
Over 20
Commodities
Over 50
Over 10
Cryptocurrencies
Over 10
Over 5
Both brokers have competitive trading fees, but they differ in their pricing models and spreads. FP Markets offers three account types: Fixed, Classic and Raw. The Fixed account has fixed spreads from 1.5 pips and no commission. The Classic account has variable spreads from 1.2 pips and no commission. The Raw account has raw spreads from 0.1 pips and a commission of $4 per round.
HYCM offers four account types: Fixed, Classic, Raw and VIP. The Fixed account has fixed spreads from 1.8 pips and no commission. The Classic account has variable spreads from 1.2 pips and no commission. The Raw account has raw spreads from 0.2 pips and a commission of $4 per round. The VIP account has variable spreads from 0.8 pips and a commission of $2 per round.
FP Markets vs HYCM Trading Fees Comparison
Account Type
FP Markets
HYCM
Fixed
Spreads from 1.5 pips; No commission
Spreads from 1.8 pips; No commission
Classic
Spreads from 1.2 pips; No commission
Spreads from 1.2 pips; No commission
Raw
Spreads from 0.1 pips; $4 per round commission
Spreads from 0.2 pips; $4 per round commission
VIP
N/A
Spreads from 0.8 pips; $2 per round commission
FP Markets vs HYCM Account Types Comparison
Account Type
FP Markets
HYCM
Minimum Deposit
$100 ($1,000 or $50,000 for IRESS)
$100 ($200 for Raw; $10,000 for VIP)
Maximum Leverage
1:500 (1:100 for IRESS)
1:500 (1:200 for Raw; 1:300 for VIP)
Platforms
MT4, MT5, IRESS
MT4
Social/Copy Trading
Yes
No
FP Markets vs HYCM Deposit Options Comparison
Payment Method
FP Markets
HYCM
Credit/Debit Card
Yes; No fee; Instant deposit; One day withdrawal
Yes; No fee; Instant deposit; Three days withdrawal
Bank Transfer
Yes; Up to $25 fee; One to five days deposit; One day withdrawal
Yes; Up to $30 fee; One day deposit; Three days withdrawal
E-Wallets
Yes; No fee; Instant deposit; One day withdrawal
Yes; No fee; Instant deposit; Three days withdrawal
Local Payment Methods
Yes; No fee; Instant deposit; One day withdrawal
Yes; No fee; Instant deposit; Three days withdrawal
FP Markets vs HYCM Trading Platforms Comparison
Platform
FP Markets
HYCM
MetaTrader 4
Yes
Yes
MetaTrader 5
Yes
No
IRESS
Yes
No
FP Markets vs HYCM Analytical Tools Comparison
Tool
FP Markets
HYCM
Market News
Yes; Daily updates from Reuters and FXStreet
Yes; Daily updates from FXStreet
Economic Calendar
Yes; Powered by FXStreet with filters and alerts
Yes; Powered by FXStreet with filters and alerts
Trading Signals
Yes; Powered by Trading Central with technical analysis and trade ideas
Yes; Powered by Trading Central with technical analysis and trade ideas
Market Analysis Videos
Yes; Weekly videos from professional analysts covering major markets and events
No
FP Markets vs HYCM . Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker depends on your personal preferences, trading goals, risk appetite and budget. You should compare the features and benefits of each broker and decide which broker suits you best. You can also read online reviews and ratings from other traders to get their opinions and experiences. Ultimately, the best forex broker for you is the one that meets your expectations and helps you achieve your trading goals.
