Compare HYCM vs Eightcap
What is HYCM? What is Eightcap?
HYCM is an online broker that offers CFD trading on forex, shares, commodities, indices, ETFs and Bitcoin. HYCM has authorization from four international regulators, including the FCA and CySEC. HYCM supports the MT4 and MT5 platforms, as well as Trading Central analysis.
Eightcap is a forex and CFD broker founded in Australia in 2009. Eightcap has ASIC regulation and offers raw spreads on 1000+ instruments, including 100+ crypto derivatives. Eightcap provides the MetaTrader 4 and TradingView platforms, as well as code-free automation and a crypto market scanner.
HYCM vs Eightcap Regulation Comparison
Both HYCM and Eightcap hold two global Tier-1 licenses from the FCA and ASIC. HYCM also holds two Tier-2 licenses from CySEC and DFSA, while Eightcap holds one Tier-2 license from CySEC. HYCM has one Tier-3 license from CIMA, while Eightcap has two Tier-3 licenses from SCB and VFSC. Both brokers are considered average-risk, with HYCM having a Trust Score of 86 out of 99 and Eightcap having a Trust Score of 87 out of 99.
HYCM vs Eightcap Trading Assets Comparison
HYCM offers traders access to 1199 CFDs, including 70 forex pairs, one cryptocurrency (Bitcoin), 15 commodities, 12 indices, 1100+ shares, and 3 ETFs. Eightcap offers traders access to 736 CFDs, including 42 forex pairs, 100+ cryptocurrencies (including crypto crosses and indices), four commodities, nine indices, and 580+ shares.
HYCM vs Eightcap Trading Fees Comparison
HYCM offers two types of accounts: Fixed and Raw. The Fixed account has fixed spreads starting from 1.8 pips and no commission. The Raw account has variable spreads starting from 0.2 pips and a commission of $4 per round turn lot.
Eightcap offers two types of accounts: Standard and Raw. The Standard account has variable spreads starting from 1 pip and no commission. The Raw account has variable spreads starting from 0 pips and a commission of $3.5 per round turn lot.
HYCM vs Eightcap Account Types Comparison
Both HYCM and Eightcap offer demo accounts for practice trading with virtual funds. The minimum deposit for both brokers is $100 for live accounts. Both brokers also offer Islamic accounts that are compliant with Sharia law and have no swap fees or interest charges.
HYCM vs Eightcap Deposit Options Comparison
Both HYCM and Eightcap offer a range of payment methods for deposits and withdrawals, including credit/debit cards, bank wire transfers, e-wallets (such as Skrill, Neteller, WebMoney), and cryptocurrencies (such as Bitcoin).
Both brokers do not charge any fees for deposits or withdrawals, but third-party fees may apply. The processing time for withdrawals is usually within one business day for both brokers.
HYCM vs Eightcap Trading Platforms Comparison
Both HYCM and Eightcap support the MetaTrader 4 platform, which is a popular choice among traders for its advanced charting, technical analysis tools, expert advisors, custom indicators, and automated trading capabilities.
HYCM also supports the MetaTrader 5 platform, which is an upgraded version of MT4 with more features and instruments. Eightcap also supports the TradingView platform, which is a web-based platform that allows traders to trade directly from the charts, access over 100 technical indicators, chat with other traders, and use code-free automation with Capitalise.ai.
HYCM vs Eightcap Analytical Tools Comparison
Both HYCM and Eightcap offer various analytical tools to help traders make informed decisions. HYCM provides access to Trading Central analysis, which is a third-party service that delivers market insights, technical analysis, trade signals, and educational materials. HYCM also offers Seasonax, which is a tool that identifies seasonal patterns in various markets. Eightcap provides access to Cryptocrusher, which is a crypto market scanner that delivers trade ideas, news updates, sentiment indicators, and entry/exit levels for over 100 crypto derivatives. Eightcap also offers an AI-powered economic calendar that delivers historical market impact and sentiment for over 1000 macro-economic events.
HYCM vs Eightcap. 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 consider when choosing between HYCM and Eightcap:
- If you are looking for a broker with more global licenses and a longer history, you may prefer HYCM, as it has been operating since 1977 and has authorization from four international regulators.
- If you are looking for a broker with more trading instruments and lower spreads, you may prefer Eightcap, as it offers over 1000 CFDs, including 100+ crypto derivatives, and has raw spreads starting from 0 pips.
- If you are looking for a broker with more platform options and analytical tools, you may prefer Eightcap, as it supports the TradingView platform and provides code-free automation and a crypto market scanner.
- If you are looking for a broker with access to Trading Central analysis and seasonal patterns, you may prefer HYCM, as it provides these services to its clients.
Ultimately, the choice of broker depends on your personal preferences and trading needs. You may want to try out the demo accounts of both brokers to see which one suits you better.
