Compare HYCM vs Coinexx
What is HYCM? What is Coinexx?
HYCM is a forex and CFD broker that has been operating since 1977. It is regulated by multiple authorities, including the FCA, CySEC, DFSA, and CIMA. It offers trading on various instruments, such as forex, indices, commodities, stocks, and cryptocurrencies.
Coinexx is a crypto forex broker that was established in 2017. It is not regulated by any authority and operates from Saint Vincent and the Grenadines. It offers trading on forex and crypto pairs with low spreads and high leverage.
Best Forex Brokers Ranking
| Rank | Broker | Review | Open Account | Bonus | Platform | Minimum Deposit | ECN |
|---|---|---|---|---|---|---|---|
| 1 | Exness |  | Open Exness account | 16$/lot | MT4, MT5, Exness, ... | 1$ | 10$ |
| 2 | IC Markets | | Open IC Markets account | - | MT4, MT5, cTrader | 200$ | 200$ |
| 3 | XM | | Open XM account | 30$ | MT4, MT5 | 5$ | - |
| 4 | XTB | | Open XTB account | 2000$ | MT4, xStation 5 | 1$ | 1$ |
| 5 | FBS | | Open FBS account | 140$ | MT4, MT5, FBS Trader | 1$ | 1000$ |
HYCM vs Coinexx Regulation Comparison
HYCM has a clear advantage over Coinexx in terms of regulation, as it holds licenses from four reputable regulators in different jurisdictions. This means that HYCM has to comply with strict rules and standards to ensure the safety and security of its clients’ funds and data. Coinexx, on the other hand, is not regulated by any authority and does not provide any information about its legal status or ownership. This means that Coinexx has a higher risk of fraud or mismanagement and does not offer any protection or compensation to its clients in case of insolvency or disputes.
HYCM vs Coinexx Trading Assets Comparison
HYCM offers a wider range of trading assets than Coinexx, as it covers more than 300 instruments across various markets, such as forex, indices, commodities, stocks, and cryptocurrencies. Coinexx only offers trading on forex and crypto pairs, with a total of 62 instruments available. However, Coinexx may have an edge over HYCM in terms of crypto trading, as it supports more than 25 altcoins as deposit and withdrawal options and allows traders to choose their account base currency from five different cryptocurrencies.
HYCM vs Coinexx Trading Fees Comparison
Both brokers offer competitive trading fees, but they differ in their pricing models. HYCM offers fixed spreads that start from 1.8 pips for the Classic account and variable spreads that start from 0.2 pips for the Raw account. HYCM also charges a commission of $4 per lot for the Raw account. Coinexx offers variable spreads that start from 0 pips for all account types and charges a commission of $2 per lot for all account types.
Therefore, Coinexx may have lower trading costs than HYCM for some traders, especially those who trade with high frequency or volume.
HYCM vs Coinexx Account Types Comparison
HYCM offers three account types: Classic, Raw, and VIP. The Classic account requires a minimum deposit of $100 and offers fixed spreads and no commissions. The Raw account requires a minimum deposit of $200 and offers variable spreads and commissions. The VIP account requires a minimum deposit of $10,000 and offers personalized services and benefits.
Coinexx offers four account types: Standard, Pro, ECN XL, and Scalper. All account types require a minimum deposit of 0.001 BTC (or equivalent in other cryptocurrencies) and offer variable spreads and commissions. The main difference between the account types is the leverage level, which ranges from 1:200 to 1:500.
HYCM vs Coinexx Deposit Options Comparison
HYCM supports various payment methods for deposit and withdrawal, such as credit/debit cards, wire transfer, Skrill, Neteller, WebMoney, Perfect Money, and crypto wallets. The minimum deposit amount is $100 for most methods and the minimum withdrawal amount is $20 for most methods. HYCM does not charge any fees for deposit or withdrawal, but some third-party providers may apply fees or commissions.
Coinexx only supports crypto wallets for deposit and withdrawal, such as Bitcoin, Litecoin, Ethereum, Monero, Dash, and more. The minimum deposit amount is 0.001 BTC (or equivalent in other cryptocurrencies) for all methods and the minimum withdrawal amount is 0.002 BTC (or equivalent in other cryptocurrencies) for all methods. Coinexx does not charge any fees for deposit or withdrawal, but some network fees may apply.
HYCM vs Coinexx Trading Platforms Comparison
Both brokers provide the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms as their main trading platforms. These platforms are widely used by traders around the world for their user-friendly interface, advanced charting tools, technical indicators, automated trading systems (EAs), and market news. Both brokers also offer web-based versions of the platforms that can be accessed from any browser without downloading or installing any software.
However, HYCM also offers a proprietary mobile app called HYCM Trader that allows traders to access their accounts and trade on the go from their iOS or Android devices.
HYCM vs Coinexx Analytical Tools Comparison
Both brokers offer some analytical tools to help traders with their trading decisions and strategies. HYCM provides access to Trading Central’s technical analysis reports, signals, indicators, and webinars. HYCM also offers an economic calendar, market news, and educational materials on its website.
Coinexx provides access to Myfxbook’s social trading network, where traders can copy the trades of other successful traders or share their own performance and strategies. Coinexx also offers an economic calendar, market news, and a blog on its website.
HYCM vs Coinexx. 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, as different brokers may suit different traders depending on their preferences, goals, and strategies. However, here are some possible factors that you may want to consider when choosing between HYCM and Coinexx:
- Regulation: If you value the safety and security of your funds and data, you may prefer HYCM over Coinexx, as HYCM is regulated by four reputable authorities and offers protection and compensation schemes to its clients. Coinexx is not regulated by any authority and does not provide any guarantees or safeguards to its clients.
- Trading Assets: If you want to diversify your portfolio and trade on various instruments across different markets, you may prefer HYCM over Coinexx, as HYCM offers more than 300 instruments, including forex, indices, commodities, stocks, and cryptocurrencies. Coinexx only offers 62 instruments, which are all forex and crypto pairs.
- Trading Fees: If you want to minimize your trading costs and maximize your profits, you may prefer Coinexx over HYCM, as Coinexx offers lower spreads and commissions than HYCM for most account types. However, you should also consider other factors that may affect your trading performance, such as execution speed, slippage, requotes, and liquidity.
- Account Types: If you want to have more flexibility and options in choosing your account type, you may prefer Coinexx over HYCM, as Coinexx offers four account types with different leverage levels and minimum deposit requirements. However, you should also be aware of the risks involved in trading with high leverage and low margin requirements, as they may amplify your losses as well as your gains.
- Deposit and Withdrawal Options: If you want to have more convenience and speed in depositing and withdrawing your funds, you may prefer Coinexx over HYCM, as Coinexx only supports crypto wallets for payment methods, which are usually faster and cheaper than traditional methods. However, you should also be aware of the volatility and security issues of cryptocurrencies, as they may affect the value and safety of your funds.
- Trading Platforms: If you want to have more choices and features in using your trading platform, you may prefer HYCM over Coinexx, as HYCM provides both MT4 and MT5 platforms as well as a proprietary mobile app called HYCM Trader. Coinexx also provides both MT4 and MT5 platforms, but does not have a mobile app of its own.
- Analytical Tools: If you want to have more access and support in using analytical tools for your trading decisions and strategies, you may prefer HYCM over Coinexx, as HYCM provides access to Trading Central’s technical analysis reports, signals, indicators, and webinars. Coinexx provides access to Myfxbook’s social trading network, but does not offer any other analytical tools of its own.
Ultimately, the choice between HYCM and Coinexx depends on your personal preferences and needs as a trader. You should do your own research and due diligence before opening an account with any broker. You should also test their services and platforms with a demo account before trading with real money.
