Compare HYCM vs Forex.com
What is HYCM? What is Forex.com?
HYCM is a forex and CFD broker that offers trading on various instruments, such as forex, indices, commodities, stocks, and cryptocurrencies. HYCM is part of the Henyep Group, a global conglomerate with business interests in financial services, property, education, and charity.
Forex.com is a forex and CFD broker that is part of StoneX Group Inc., a publicly traded company that provides trading, clearing, execution, and custody services. Forex.com offers trading on forex, indices, commodities, stocks, ETFs, and cryptocurrencies.
HYCM vs Forex.com Regulation Comparison
Both brokers are regulated by multiple authorities in different jurisdictions. HYCM holds licenses from 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.
Forex.com holds licenses from the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) in the US, the Financial Conduct Authority (FCA) in the UK, the Financial Services Agency (FSA) in Japan, the Investment Industry Regulatory Organization of Canada (IIROC) in Canada, and the Monetary Authority of Singapore (MAS) in Singapore.
HYCM vs Forex.com Trading Assets Comparison
HYCM offers traders access to 1199 CFDs, including 70 currency pairs, 28 indices, 33 commodities, 100 stocks, 5 ETFs, and 9 cryptocurrencies. Forex.com offers traders access to 5500 CFDs, including 41 currency pairs, 15 indices, 10 commodities, 4500 stocks, 25 ETFs, and 9 cryptocurrencies.
HYCM vs Forex.com Trading Fees Comparison
HYCM charges fixed spreads on its Classic account and variable spreads on its Raw account. The average spread for EUR/USD on the Classic account is 1.8 pips and on the Raw account is 0.2 pips plus a commission of $4 per lot per side.
Forex.com charges variable spreads on its Standard account and reduced spreads plus a commission of $5 per 100k traded on its Commission account. The average spread for EUR/USD on the Standard account is 1.3 pips and on the Commission account is 0.2 pips plus a commission of $5 per 100k traded.
HYCM vs Forex.com Account Types Comparison
HYCM offers two main types of accounts: Classic and Raw. The Classic account has a minimum deposit of $100 and no commission. The Raw account has a minimum deposit of $200 and a commission of $4 per lot per side. Both accounts have a maximum leverage of 1:325 and a minimum trade size of 0.01 lot.
Forex.com offers two main types of accounts: Standard and Commission. The Standard account has no minimum deposit and no commission. The Commission account has a minimum deposit of $100 and a commission of $5 per 100k traded. Both accounts have a maximum leverage of 1:200 and a minimum trade size of 0.1 lot.
HYCM vs Forex.com Deposit Options Comparison
HYCM supports various payment methods for deposits and withdrawals, such as credit/debit cards, wire transfer, Skrill, Neteller, WebMoney, Perfect Money, and crypto. Forex.com supports credit/debit cards, wire transfer, and SOFORT for deposits and withdrawals.
HYCM vs Forex.com Trading Platforms Comparison
HYCM provides traders with the MetaTrader 4 (MT4) platform, which is available as a desktop application, a web-based platform, and a mobile app for iOS and Android devices.
Forex.com provides traders with three platforms: MT4, DealBook 360, and FOREXTrader PRO. MT4 is available as a desktop application, a web-based platform, and a mobile app for iOS and Android devices. DealBook 360 is available as a desktop application only. FOREXTrader PRO is available as a web-based platform only.
HYCM vs Forex.com Analytical Tools Comparison
HYCM offers traders various analytical tools to enhance their trading experience, such as market news, economic calendar, trading signals, trading calculators, webinars, videos, articles, ebooks, and podcasts.
Forex.com also offers traders various analytical tools to support their trading decisions, such as market news, economic calendar, trading signals from Trading Central and Autochartist, technical analysis tools from Recognia and TradingView, webinars, videos, articles, and podcasts.
HYCM vs Forex.com. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is a personal decision that depends on your trading style, preferences, and goals. There is no definitive answer to which forex broker is better, as different brokers may suit different traders better. However, you may consider some of the following factors to help you decide:
- Regulation: Both brokers are regulated by reputable authorities in multiple jurisdictions, which means they have to comply with high standards of security, transparency, and customer protection. However, depending on your location, you may prefer a broker that is regulated by a local authority or one that accepts clients from your country. For example, if you are from the US, you may prefer Forex.com as it is regulated by the CFTC and the NFA in the US, while HYCM does not accept US clients.
- Trading Assets: Both brokers offer a wide range of trading instruments, including forex, indices, commodities, stocks, ETFs, and cryptocurrencies. However, Forex.com has a larger number of CFDs available, especially in the stock and ETF categories. If you are interested in trading a diverse portfolio of assets, you may prefer Forex.com as it offers more choices and opportunities.
- Trading Fees: Both brokers charge competitive fees for trading, but they have different fee structures. HYCM charges fixed spreads on its Classic account and variable spreads plus a commission on its Raw account. Forex.com charges variable spreads on its Standard account and reduced spreads plus a commission on its Commission account. Depending on your trading volume, frequency, and strategy, you may prefer a broker that offers lower spreads or lower commissions. You may also want to compare the swap rates and other fees that each broker charges.
- Account Types: Both brokers offer two main types of accounts: one with no commission and one with a commission. However, they have different minimum deposit requirements and leverage levels. HYCM has a lower minimum deposit requirement of $100 for its Classic account and $200 for its Raw account, while Forex.com has no minimum deposit requirement for its Standard account and $100 for its Commission account. HYCM also offers higher leverage of up to 1:325, while Forex.com offers lower leverage of up to 1:200. Depending on your risk appetite, capital availability, and margin requirements, you may prefer a broker that offers lower minimum deposits or higher leverage.
- Deposit and Withdrawal Options: Both brokers support various payment methods for deposits and withdrawals, such as credit/debit cards and wire transfer. However, HYCM also supports some e-wallets and crypto options, such as Skrill, Neteller, WebMoney, Perfect Money, and crypto, while Forex.com only supports SOFORT as an additional option. If you are looking for more flexibility and convenience in funding your account or withdrawing your profits, you may prefer HYCM as it offers more options.
- Trading Platforms: Both brokers provide traders with the MetaTrader 4 (MT4) platform, which is one of the most popular and widely used platforms in the forex industry. MT4 offers advanced charting tools, technical indicators, automated trading systems, and customizability. However, Forex.com also provides two other platforms: DealBook 360 and FOREXTrader PRO. DealBook 360 is a proprietary platform that offers sophisticated trading tools, such as Gann lines, Fibonacci arcs, and market depth. FOREXTrader PRO is another proprietary platform that offers enhanced execution speed, integrated news and analysis, and customizable layouts. If you are looking for more variety and functionality in your trading platforms, you may prefer Forex.com as it offers more options.
- Analytical Tools: Both brokers offer various analytical tools to help traders make informed trading decisions, such as market news, economic calendar, trading signals, webinars, videos, articles, podcasts etc. However, Forex.com also offers some additional tools from third-party providers such as Trading Central and Autochartist for trading signals, Recognia and TradingView for technical analysis. If you are looking for more support and guidance in your trading journey or want to access more sources of information and analysis then you may prefer Forex.com as it offers more tools.
