Compare FxGlory vs HYCM
What is FxGlory? What is HYCM?
FxGlory is a forex broker that was established in 2011 and is registered in Saint Vincent and the Grenadines. It offers trading with fixed spreads, high leverage up to 1:3000, and various payment methods including cryptocurrencies. It also provides a 50% bonus on each deposit, free VPS service, and swap-free accounts for Islamic traders.
HYCM is a forex broker that has been in the investment industry since 1977 and is regulated by multiple authorities such as FCA, CySEC, DFSA, and CIMA. It offers trading with fixed spreads, low leverage up to 1:325, and a range of trading instruments including forex, CFDs, indices, commodities, stocks, and ETFs. It also provides educational materials, market analysis, and third-party tools from Trading Central.
FxGlory vs HYCM Regulation Comparison
FxGlory is only regulated by the Financial Services Authority (FSA) of Saint Vincent and the Grenadines with registration number 25228 (BC 2018). This means that it is not subject to strict oversight and compliance requirements from reputable regulators such as FCA or CySEC. Therefore, traders may face higher risks when dealing with FxGlory as their funds may not be protected in case of insolvency or fraud.
HYCM is regulated by four different regulators in different jurisdictions: the Financial Conduct Authority (FCA) of the United Kingdom with license number 186171, the Cyprus Securities and Exchange Commission (CySEC) with license number 259/14, the Dubai Financial Services Authority (DFSA) with license number 000048, and the Cayman Islands Monetary Authority (CIMA) with license number 1442313. This means that HYCM has to follow strict rules and standards regarding client protection, fund segregation, capital adequacy, and transparency. Therefore, traders can have more confidence and security when trading with HYCM as their funds are safeguarded by reputable regulators.
FxGlory vs HYCM Trading Assets Comparison
FxGlory offers a limited range of trading assets to its clients. It only supports forex and CFDs on gold and silver. It does not offer any other instruments such as indices, commodities, stocks, or cryptocurrencies.
HYCM offers a wider range of trading assets to its clients. It supports forex and CFDs on indices, commodities, stocks, ETFs, and cryptocurrencies. It also offers spread betting for UK clients.
FxGlory vs HYCM Trading Fees Comparison
FxGlory charges fixed spreads for its trading accounts. The spreads vary depending on the account type and the currency pair. For example, the standard account has a spread of 2 pips for EUR/USD, while the premium account has a spread of 1.5 pips for the same pair. FxGlory also charges commissions for its ECN account, which has a spread of 0 pips for EUR/USD but a commission of $4 per lot per side. FxGlory does not charge any other fees such as deposit or withdrawal fees.
HYCM also charges fixed spreads for its trading accounts. The spreads vary depending on the account type and the instrument. For example, the classic account has a spread of 1.8 pips for EUR/USD, while the raw account has a spread of 0.2 pips for the same pair. HYCM also charges commissions for its raw account, which has a commission of $4 per lot per side. HYCM does not charge any deposit fees but may charge withdrawal fees depending on the payment method.
FxGlory vs HYCM Account Types Comparison
FxGlory offers three types of trading accounts: standard, premium, and ECN. The minimum deposit for each account is $1, $1,000, and $100 respectively. The maximum leverage for each account is 1:3000. The main difference between the accounts is the spread and commission structure as mentioned above.
HYCM offers four types of trading accounts: classic, raw, VIP, and Islamic. The minimum deposit for each account is $100, $200, $10,000, and $100 respectively. The maximum leverage for each account is 1:325. The main difference between the accounts is the spread and commission structure as mentioned above.
FxGlory vs HYCM Deposit Options Comparison
FxGlory offers a variety of deposit and withdrawal options for its clients. It supports WebMoney, PayPal, Skrill, Wire transfer, Credit / debit cards, Neteller, Perfect Money, Crypto, Litecoin, Ethereum, Crypto Cash and Ripple. It does not charge any fees for deposits or withdrawals. The processing time for deposits is instant for most methods, while the processing time for withdrawals is up to 24 hours for most methods.
HYCM offers a limited number of deposit and withdrawal options for its clients. It supports WebMoney, Skrill, Wire transfer, Credit/debit cards, Neteller, Perfect Money and Crypto. It does not charge any fees for deposits but may charge fees for withdrawals depending on the method. The processing time for deposits is instant for most methods, while the processing time for withdrawals is up to 7 days for most methods.
FxGlory vs HYCM Trading Platforms Comparison
FxGlory offers only one trading platform to its clients: MetaTrader 4 (MT4). MT4 is a popular and user-friendly platform that supports various features such as charting tools, indicators, expert advisors, and automated trading. However, FxGlory limits the access to MT4 to 30 days of inactivity, which means that traders have to log in at least once a month to keep their accounts active.
HYCM offers two trading platforms to its clients: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). MT4 and MT5 are both popular and user-friendly platforms that support various features such as charting tools, indicators, expert advisors, and automated trading. However, MT5 has some advantages over MT4 such as more timeframes, more order types, more instruments, and more analytical tools. HYCM does not limit the access to MT4 or MT5 by inactivity.
FxGlory vs HYCM Analytical Tools Comparison
FxGlory does not offer any analytical tools to its clients apart from the ones available on MT4. It does not provide any market news, analysis, signals, or education on its website or platform.
HYCM offers some analytical tools to its clients in addition to the ones available on MT4 and MT5. It provides market news, analysis, signals, and education on its website and platform. It also integrates third-party tools from Trading Central, which is a leading provider of technical analysis and market insights.
FxGlory vs HYCM. 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 possible factors that you may want to consider when comparing FxGlory and HYCM:
- Regulation: HYCM has a clear advantage over FxGlory in terms of regulation. HYCM is regulated by four reputable regulators in different jurisdictions, while FxGlory is only regulated by one offshore regulator. This means that HYCM has to follow higher standards of client protection, fund segregation, capital adequacy, and transparency. Therefore, trading with HYCM may be safer and more secure than trading with FxGlory.
- Trading Assets: HYCM also has a clear advantage over FxGlory in terms of trading assets. HYCM offers a wider range of trading instruments than FxGlory, including forex, CFDs, indices, commodities, stocks, ETFs, and cryptocurrencies. This means that HYCM can provide more opportunities and diversification for traders than FxGlory.
- Trading Fees: FxGlory and HYCM have similar fee structures for their trading accounts. They both charge fixed spreads and commissions for some of their accounts. However, the exact fees may vary depending on the account type and the instrument. Therefore, traders may want to compare the fees for their preferred instruments and account types before choosing a broker.
- Account Types: FxGlory and HYCM offer different account types for their clients. FxGlory offers three account types: standard, premium, and ECN. HYCM offers four account types: classic, raw, VIP, and Islamic. The main difference between the account types is the spread and commission structure as mentioned above. Therefore, traders may want to choose an account type that suits their trading style and budget.
- Deposit and Withdrawal Options: FxGlory has a slight advantage over HYCM in terms of deposit and withdrawal options. FxGlory offers more payment methods than HYCM, including cryptocurrencies. FxGlory also does not charge any fees for deposits or withdrawals, while HYCM may charge fees for withdrawals depending on the method. However, the processing time for withdrawals may be faster for HYCM than for FxGlory.
- Trading Platforms: FxGlory and HYCM both offer MetaTrader 4 (MT4) as their trading platform. However, HYCM also offers MetaTrader 5 (MT5), which has some advantages over MT4 such as more timeframes, more order types, more instruments, and more analytical tools. Therefore, traders who prefer MT5 may want to choose HYCM over FxGlory.
- Analytical Tools: HYCM has a clear advantage over FxGlory in terms of analytical tools. HYCM offers more tools than FxGlory, including market news, analysis, signals, education, and third-party tools from Trading Central. Therefore, traders who want to access more information and insights may want to choose HYCM over FxGlory.
