Compare HYCM vs eToro
What is HYCM? What is eToro?
HYCM is a forex and CFD broker that offers trading on various instruments, such as forex, stocks, indices, commodities, cryptocurrencies, and ETFs. HYCM is part of the Henyep Group, which has over 40 years of experience in the financial industry.
eToro is a multi-asset platform that allows users to trade and invest in stocks, ETFs, currencies, indices, commodities, and cryptocurrencies. eToro also offers social trading features, such as CopyTrader and CopyPortfolios, which enable users to copy the trades or portfolios of other investors
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 eToro Regulation Comparison
HYCM is regulated by various authorities around the world, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, the Dubai Financial Services Authority (DFSA) in the UAE, and the Cayman Islands Monetary Authority (CIMA) in the Cayman Islands.
eToro is also regulated by multiple regulators, such as the FCA, CySEC, the Australian Securities and Investments Commission (ASIC) in Australia, and the Financial Markets Authority (FMA) in New Zealand. Both brokers have a high trust score of 88 and 90 out of 99 respectively.
HYCM vs eToro Trading Assets Comparison
HYCM offers trading on over 1,199 instruments across various asset classes. HYCM has 70 forex pairs, 100 stocks, 28 indices, 21 commodities, 33 cryptocurrencies, and 15 ETFs available for trading.
eToro offers trading on over 3,479 instruments across different markets. eToro has 52 forex pairs, 2,400 stocks, 145 ETFs, 13 indices, 9 commodities, and 93 cryptocurrencies available for trading. eToro also allows users to trade non-CFD stocks without paying any commission.
HYCM vs eToro Trading Fees Comparison
HYCM charges different fees depending on the account type and the instrument traded. HYCM has three main account types: Fixed, Classic, and Raw. The Fixed account has fixed spreads starting from 1.8 pips and no commission. The Classic account has variable spreads starting from 1.2 pips and no commission. The Raw account has variable spreads starting from 0.2 pips and a commission of $4 per round turn lot. HYCM also charges an inactivity fee of $10 per month after six months of no trading activity. eToro charges variable spreads depending on the instrument traded. eToro’s spreads start from 1 pip for major forex pairs, 0.75% for stocks and ETFs, 0.45% for indices, 0.45% for commodities, and 0.75% for cryptocurrencies. eToro does not charge any commission or deposit fees. eToro also charges an inactivity fee of $10 per month after one year of no trading activity.
HYCM vs eToro Account Types Comparison
HYCM offers four account types: Fixed, Classic, Raw, and VIP. The Fixed account requires a minimum deposit of $100 and has fixed spreads. The Classic account requires a minimum deposit of $100 and has variable spreads. The Raw account requires a minimum deposit of $200 and has variable spreads and commissions. The VIP account requires a minimum deposit of $10,000 and has variable spreads and commissions as well as other benefits such as personal account manager and market analysis.
eToro offers only one account type for retail clients with a minimum deposit of $200 ($50 for US clients). eToro also offers a professional account for eligible clients with a minimum deposit of $5,000. The professional account has lower margin requirements and higher leverage than the retail account.
HYCM vs eToro Deposit Options Comparison
HYCM supports various deposit and withdrawal methods, such as bank wire transfer, credit/debit cards (Visa/Mastercard), online payment services (Skrill/Neteller/WebMoney), and cryptocurrencies (Bitcoin/Ethereum) . HYCM does not charge any deposit fees but may charge withdrawal fees depending on the method used . The minimum withdrawal amount is $20 for online payment services and $250 for bank wire transfer .
eToro also supports various payment methods, such as bank transfer, credit/debit cards (Visa/Mastercard), online payment services (PayPal/Skrill/Neteller/WebMoney), and cryptocurrencies (Bitcoin/Ethereum) . eToro does not charge any deposit fees but charges a flat withdrawal fee of $5 for any amount . The minimum withdrawal amount is $30
HYCM vs eToro Trading Platforms Comparison
HYCM offers two main trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). MT4 and MT5 are popular and user-friendly platforms that support various features, such as multiple order types, advanced charting tools, technical indicators, automated trading, and customisable layouts . HYCM also offers a proprietary mobile app called HYCM Trader, which allows users to trade on the go with a simple and intuitive interface .
eToro offers its own proprietary platform, which is web-based and accessible from any browser. eToro’s platform is designed for social trading and has various features, such as CopyTrader, CopyPortfolios, news feed, market analysis, and risk management tools . eToro also offers a mobile app for iOS and Android devices, which has similar features and functionality as the web platform
HYCM vs eToro Analytical Tools Comparison
HYCM provides various analytical tools for its clients, such as Trading Central, which offers technical analysis, market commentary, trading signals, and educational resources . HYCM also provides daily market outlooks, weekly market reviews, economic calendars, trading calculators, and webinars on its website.
eToro also provides various analytical tools for its users, such as Delta, which is a portfolio tracker app that allows users to monitor their performance and manage their risk . eToro also provides market research, news updates, economic calendars, trading podcasts, and ESG scores on its website
HYCM vs eToro. 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, needs, and goals. However, based on the comparison of HYCM and eToro, you may consider some of the following factors to help you make your decision:
- Regulation and Trust: Both HYCM and eToro are regulated by reputable authorities and have high trust scores. You may choose the broker that is regulated in your jurisdiction or has a better reputation among other traders.
- Trading Assets and Markets: Both HYCM and eToro offer a wide range of trading instruments across various asset classes. However, eToro has more instruments available than HYCM, especially in stocks, ETFs, and cryptocurrencies. You may choose the broker that has the instruments that you are interested in or want to diversify your portfolio with.
- Trading Fees and Costs: Both HYCM and eToro charge variable spreads depending on the instrument traded. However, HYCM also charges commissions for some account types and instruments, while eToro does not charge any commission or deposit fees. You may choose the broker that has lower fees and costs for the instruments and account types that you prefer.
- Account Types and Features: HYCM offers four account types with different minimum deposits, spreads, commissions, and benefits. eToro offers only one account type for retail clients with a fixed minimum deposit. You may choose the broker that has the account type that suits your trading style, budget, and expectations.
- Deposit and Withdrawal Options: Both HYCM and eToro support various payment methods for depositing and withdrawing funds. However, HYCM may charge withdrawal fees depending on the method used, while eToro charges a flat withdrawal fee for any amount. You may choose the broker that has the payment method that is convenient, secure, and cost-effective for you.
- Trading Platforms and User Experience: HYCM offers MT4 and MT5 platforms, which are popular and user-friendly platforms with various features and tools. eToro offers its own proprietary platform, which is web-based and designed for social trading with various features and tools. You may choose the broker that has the platform that is compatible, accessible, and enjoyable for you.
- Analytical Tools and Resources: Both HYCM and eToro provide various analytical tools and resources for their clients, such as market analysis, trading signals, educational materials, portfolio trackers, etc. You may choose the broker that has the tools and resources that are helpful, informative, and relevant for you.
Ultimately, the choice of forex broker depends on your personal preferences, needs, and goals. You may want to do more research on both brokers before making your final decision. You may also want to try out their demo accounts or platforms to get a feel of their services and features.
