Compare FxPrimus vs HYCM
What is FxPrimus? What is HYCM?
FxPrimus is an international investment firm that was founded in 2009 and is regulated by the Vanuatu Securities and Exchange Commission. It offers trading on over 130 instruments, including forex, metals, energies, equities, and indices.
HYCM is a global forex and CFD broker that was established in 1977 and is regulated by multiple authorities, such as the FCA, CySEC, DFSA, and CIMA. It provides trading on over 100 instruments, including forex, metals, commodities, stocks, and indices.
FxPrimus vs HYCM Regulation Comparison
- Both FxPrimus and HYCM are regulated brokers that comply with the rules and standards of their respective jurisdictions. However, HYCM has more regulatory licenses than FxPrimus, which may indicate a higher level of trustworthiness and security for its clients. HYCM is authorized by the following regulators:
- Financial Conduct Authority (FCA) in the UK
- Cyprus Securities and Exchange Commission (CySEC) in Cyprus
- Dubai Financial Services Authority (DFSA) in Dubai
- Cayman Islands Monetary Authority (CIMA) in the Cayman Islands
- FxPrimus is only regulated by the Vanuatu Securities and Exchange Commission (VSEC) in Vanuatu, which is considered a less reputable and strict regulator than the ones mentioned above.
FxPrimus vs HYCM Trading Assets Comparison
- Both FxPrimus and HYCM offer a wide range of trading instruments for their clients to diversify their portfolios and access different markets. However, FxPrimus has a slightly larger selection of assets than HYCM, especially in the equities and indices categories. Here are the number of instruments available for each asset class on both platforms:
- Forex: FxPrimus has 45 currency pairs, while HYCM has 40 currency pairs.
- Metals: FxPrimus has 6 metal products, while HYCM has 5 metal products.
- Energies: FxPrimus has 4 energy products, while HYCM has 3 energy products.
- Equities: FxPrimus has 67 equity products, while HYCM has 40 equity products.
- Indices: FxPrimus has 12 index products, while HYCM has 15 index products.
FxPrimus vs HYCM Trading Fees Comparison
- Both FxPrimus and HYCM charge fees for their trading services, which include spreads, commissions, swaps, and other charges. The fees may vary depending on the account type, instrument, market conditions, and trading volume. Here are some examples of the fees charged by both brokers for some popular instruments:
- EUR/USD: FxPrimus has a fixed spread of 1.6 pips on its Fixed account, a variable spread of 0.4 pips on its Variable account, and a raw spread of 0 pips plus a commission of $10 per lot on its ECN Premier account. HYCM has a fixed spread of 1.8 pips on its Fixed account, a variable spread of 1.2 pips on its Classic account, and a raw spread of 0.2 pips plus a commission of $4 per lot on its Raw account.
- XAU/USD: FxPrimus has a fixed spread of 35 pips on its Fixed account, a variable spread of 22 pips on its Variable account, and a raw spread of 18 pips plus a commission of $10 per lot on its ECN Premier account. HYCM has a fixed spread of 45 pips on its Fixed account, a variable spread of 32 pips on its Classic account, and a raw spread of 25 pips plus a commission of $4 per lot on its Raw account.
- US30: FxPrimus has a fixed spread of 3 points on its Fixed account, a variable spread of 2 points on its Variable account, and a raw spread of 1 point plus a commission of $10 per lot on its ECN Premier account. HYCM has a fixed spread of 5 points on its Fixed account, a variable spread of 4 points on its Classic account, and a raw spread of 3 points plus a commission of $4 per lot on its Raw account.
FxPrimus vs HYCM Account Types Comparison
- Both FxPrimus and HYCM offer different types of accounts for their clients to choose from, depending on their trading preferences, experience, and capital. Here are the main features of each account type offered by both brokers:
- FxPrimus Fixed account: This account has fixed spreads, no commissions, a minimum deposit of $100, a maximum leverage of 1:1000, and access to all trading instruments.
- FxPrimus Variable account: This account has variable spreads, no commissions, a minimum deposit of $500, a maximum leverage of 1:1000, and access to all trading instruments.
- FxPrimus ECN Premier account: This account has raw spreads, commissions of $10 per lot, a minimum deposit of $2,500, a maximum leverage of 1:200, and access to all trading instruments.
- HYCM Fixed account: This account has fixed spreads, no commissions, a minimum deposit of $100, a maximum leverage of 1:200, and access to forex and metals only.
- HYCM Classic account: This account has variable spreads, no commissions, a minimum deposit of $100, a maximum leverage of 1:200, and access to all trading instruments.
- HYCM Raw account: This account has raw spreads, commissions of $4 per lot, a minimum deposit of $200, a maximum leverage of 1:200, and access to all trading instruments.
FxPrimus vs HYCM Deposit Options Comparison
- Both FxPrimus and HYCM support various methods for depositing and withdrawing funds from their trading accounts. However, HYCM has more options than FxPrimus, especially in terms of e-wallets and local payment methods. Here are some of the deposit and withdrawal methods available for both brokers:
- FxPrimus: Bank wire transfer, credit/debit card (Visa, Mastercard), Skrill, Neteller, BitPay.
- HYCM: Bank wire transfer, credit/debit card (Visa, Mastercard), Skrill, Neteller, WebMoney, Qiwi Wallet, UnionPay.
FxPrimus vs HYCM Trading Platforms Comparison
Both FxPrimus and HYCM use the MetaTrader 4 (MT4) platform as their main trading platform. MT4 is a popular and user-friendly platform that offers advanced charting tools, technical indicators, automated trading systems (Expert Advisors), and mobile trading applications. However, HYCM also offers the MetaTrader 5 (MT5) platform as an alternative option for its clients. MT5 is an upgraded version of MT4 that has more features and capabilities, such as more timeframes, more order types, more analytical tools, and more financial instruments.
FxPrimus vs HYCM Analytical Tools Comparison
Both FxPrimus and HYCM provide their clients with various analytical tools and resources to enhance their trading performance and education. These include market news and analysis, economic calendars, webinars and seminars, trading signals and indicators, trading calculators and converters, and educational materials.
However, FxPrimus has some additional tools that HYCM does not offer, such as the PAMM service (a managed account service that allows investors to copy the trades of professional traders), the VPS service (a virtual private server that ensures faster execution and lower latency), and the Primus Academy (an online learning platform that offers courses and videos on various trading topics).
FxPrimus 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 as to which broker is better, as each broker has its own advantages and disadvantages. However, you can consult some general guidelines and recommendations to help you make an informed choice.
- First of all, you should consider the regulation and reputation of the broker. A regulated broker is more likely to follow the rules and standards of its jurisdiction, protect your funds and data, and offer fair and transparent trading conditions. A reputable broker is more likely to have positive reviews and feedback from its clients, partners, and industry experts. Based on this criterion, HYCM seems to have an edge over FxPrimus, as it has more regulatory licenses from well-known authorities, such as the FCA, CySEC, DFSA, and CIMA. FxPrimus is only regulated by the VSEC in Vanuatu, which is considered a less reputable and strict regulator than the ones mentioned above.
- Secondly, you should compare the trading assets and fees of the broker. A broker that offers a wide range of trading instruments can give you more opportunities to diversify your portfolio and access different markets. A broker that charges low fees can help you reduce your trading costs and increase your profits. Based on this criterion, FxPrimus seems to have a slight advantage over HYCM, as it offers more trading instruments than HYCM, especially in the equities and indices categories . FxPrimus also has lower spreads than HYCM on some popular instruments, such as EUR/USD, XAU/USD, and US30 . However, HYCM has lower commissions than FxPrimus on its raw spread account, which may be more suitable for high-volume traders.
- Thirdly, you should evaluate the account types and deposit and withdrawal options of the broker. A broker that offers different types of accounts can cater to your trading preferences, experience, and capital. A broker that supports various methods for depositing and withdrawing funds can facilitate your transactions and save you time and hassle. Based on this criterion, HYCM seems to have more options than FxPrimus, as it offers three types of accounts (Fixed, Classic, and Raw) with different features and benefits, while FxPrimus offers only two types of accounts (Fixed and Variable) with similar features. HYCM also supports more payment methods than FxPrimus, especially in terms of e-wallets and local payment methods.
- Lastly, you should check the trading platforms and analytical tools of the broker. A broker that uses a reliable and user-friendly trading platform can enhance your trading experience and performance. A broker that provides various analytical tools and resources can help you improve your trading skills and knowledge. Based on this criterion, both FxPrimus and HYCM use the MT4 platform as their main trading platform , which is a popular and user-friendly platform that offers advanced charting tools, technical indicators, automated trading systems (Expert Advisors), and mobile trading applications. However, HYCM also offers the MT5 platform as an alternative option for its clients, which is an upgraded version of MT4 that has more features and capabilities. FxPrimus has some additional tools that HYCM does not offer, such as the PAMM service, the VPS service, and the Primus Academy.
In conclusion, both FxPrimus and HYCM are reputable forex brokers that offer competitive trading conditions and services for their clients. However, depending on your personal preferences, trading goals, and risk appetite, you may find one broker more suitable for you than the other.
