Compare FXTM vs HYCM
What is FXTM? What is HYCM?
FXTM is a global online financial trading and investing broker that offers CFDs in FX, indices, commodities, and more. It was established in 2011 and is regulated by several authorities, including FCA, CySEC, FSCA, and CMA.
HYCM is a multi-regulated forex and CFD broker that has been in the industry since 1977. It offers trading in forex, crypto, stocks, indices, soft commodities, metals, and energies. It is regulated by FCA, CySEC, DFSA, CIMA, and FSA.
FXTM vs HYCM Regulation Comparison
FXTM and HYCM are both well-regulated brokers that comply with high standards of security and transparency. However, FXTM has more licenses than HYCM, as it is authorized by the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, the Financial Sector Conduct Authority (FSCA) in South Africa, and the Capital Markets Authority of Kenya (CMA) in Kenya.
HYCM is also regulated by the FCA and CySEC, as well as the Dubai Financial Services Authority (DFSA) in the UAE, the Cayman Islands Monetary Authority (CIMA) in the Cayman Islands, and the Financial Services Authority (FSA) in St. Vincent and the Grenadines. Both brokers offer client protection schemes such as segregated accounts, negative balance protection, and compensation funds.
FXTM vs HYCM Trading Assets Comparison
FXTM and HYCM offer a wide range of trading assets to their clients, but they differ in some categories. FXTM supports trading with forex, gold & silver, CFDs, oil, futures, and crypto, while HYCM provides trading with forex, crypto, stocks, indexes, soft commodities, metals, and energies. Both brokers do not offer trading with ETFs, options, bonds, binary options, or physical stocks.
FXTM vs HYCM Trading Fees Comparison
FXTM and HYCM have different fee structures depending on the account type and the trading instrument. FXTM offers variable spreads starting from 0.1 pips on its ECN account and fixed spreads starting from 1.5 pips on its Standard account. It also charges commissions of $2 per lot on its ECN account and $4 per lot on its ECN Zero account.
HYCM offers fixed spreads starting from 0.8 pips on its Fixed account and variable spreads starting from 0.2 pips on its Raw account. It also charges commissions of $4 per lot on its Raw account. Both brokers charge swap fees for holding positions overnight and do not charge deposit or withdrawal fees.
FXTM vs HYCM Account Types Comparison
FXTM and HYCM offer different account types to suit different trading styles and preferences. FXTM has six account types: Standard Account (minimum deposit $100), Cent Account (minimum deposit $10), Shares Account (minimum deposit $100), ECN Account (minimum deposit $500), ECN Zero Account (minimum deposit $200), and Pro Account (minimum deposit $25,000).
HYCM has three account types: Fixed Account (minimum deposit $100), Classic Account (minimum deposit $100), and Raw Account (minimum deposit $200). Both brokers also offer demo accounts for practice trading and Islamic accounts for swap-free trading.
FXTM vs HYCM Deposit Options Comparison
FXTM and HYCM have similar deposit and withdrawal options for their clients. Both brokers accept payment methods such as credit/debit cards, wire transfer, Skrill, Neteller, WebMoney, Perfect Money, QIWI Wallet, as well as cryptocurrencies such as Bitcoin and Ethereum .
However, FXTM also accepts payment methods such as YooMoney, UnionPay, DIXIPAY, FasaPay, Google Pay, while HYCM does not.
FXTM vs HYCM Trading Platforms Comparison
FXTM and HYCM both use MetaTrader 4 (MT4) and MetaTrader 5 (MT5) as their main trading platforms. These are popular platforms that offer advanced charting tools, technical indicators, automated trading systems (Expert Advisors), market news feeds , etc. Both brokers also have their own mobile apps for trading on the go: FXTM Trader for FXTM clients and HYCM Mobile for HYCM clients.
FXTM vs HYCM Analytical Tools Comparison
FXTM and HYCM both provide analytical tools to help their clients with their trading decisions. FXTM offers tools such as economic calendar, market sentiment indicator, daily market analysis, trading signals, etc. HYCM offers tools such as economic calendar, trading calculators, daily market outlook, trading central, etc. Both brokers also offer free education materials such as webinars, articles, videos, ebooks, etc.
FXTM vs HYCM. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that can affect your trading experience and results. There are many factors to consider, such as fees, regulations, platforms, assets, customer service, and more. FXTM and HYCM are two popular forex brokers that offer different features and services. Here are some key differences and similarities between them based on web search results:
- Fees: FXTM has lower spreads than HYCM on average, especially on its ECN account. However, FXTM also charges commissions on some of its accounts, while HYCM only charges commissions on its Raw account. Both brokers charge swap fees for holding positions overnight and do not charge deposit or withdrawal fees. FXTM has higher non-trading fees than HYCM, as it charges for inactivity and withdrawal.
- Regulation: FXTM and HYCM are both well-regulated brokers that comply with high standards of security and transparency. However, FXTM has more licenses than HYCM, as it is authorized by the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, the Financial Sector Conduct Authority (FSCA) in South Africa, and the Capital Markets Authority of Kenya (CMA) in Kenya. HYCM is also regulated by the FCA and CySEC, as well as the Dubai Financial Services Authority (DFSA) in the UAE, the Cayman Islands Monetary Authority (CIMA) in the Cayman Islands, and the Financial Services Authority (FSA) in St. Vincent and the Grenadines. Both brokers offer client protection schemes such as segregated accounts, negative balance protection, and compensation funds.
- Platforms: FXTM and HYCM both use MetaTrader 4 (MT4) and MetaTrader 5 (MT5) as their main trading platforms. These are popular platforms that offer advanced charting tools, technical indicators, automated trading systems (Expert Advisors), market news feeds , etc. Both brokers also have their own mobile apps for trading on the go: FXTM Trader for FXTM clients and HYCM Mobile for HYCM clients.
- Assets: FXTM and HYCM offer a wide range of trading assets to their clients, but they differ in some categories. FXTM supports trading with forex, gold & silver, CFDs, oil, futures, and crypto, while HYCM provides trading with forex, crypto, stocks, indexes, soft commodities, metals, and energies. Both brokers do not offer trading with ETFs, options, bonds, binary options, or physical stocks.
- Customer service: FXTM and HYCM both provide customer service via phone, live chat , email , etc. However , FXTM has a higher customer service score than HYCM according to one of the web search results. FXTM also offers 24/7 availability , while HYCM does not.
As you can see , there are pros and cons for each broker , depending on your trading needs and preferences . You may want to try out their demo accounts first to get a feel of their platforms and services before opening a real account .
