Compare HYCM vs LMFX
What is HYCM? What is LMFX?
HYCM is a forex and CFD broker that has been operating since 1977. It is regulated by multiple authorities, including the FCA, CySEC, DFSA, CIMA, and FSA. LMFX is a forex broker that was established in 2015. It is not regulated by any reputable authority.
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 LMFX Regulation Comparison
HYCM has a higher level of regulation than LMFX, as it is licensed by five regulators in different jurisdictions. LMFX is only registered in St. Vincent and the Grenadines, which is not a reliable regulator for forex trading. Therefore, HYCM is more trustworthy and secure than LMFX in terms of regulation.
HYCM vs LMFX Trading Assets Comparison
HYCM offers more trading assets than LMFX, as it has over 300 instruments across forex, CFDs, indices, commodities, stocks, ETFs, and cryptocurrencies. LMFX has only 47 instruments across forex and CFDs. Therefore, HYCM has more diversity and flexibility than LMFX in terms of trading assets.
HYCM vs LMFX Trading Fees Comparison
HYCM has lower trading fees than LMFX, as it has fixed spreads starting from 0.2 pips and commissions starting from $4 per round lot. LMFX has variable spreads starting from 0.2 pips and commissions starting from $8 per round lot. Therefore, HYCM is more cost-effective than LMFX in terms of trading fees.
HYCM vs LMFX Account Types Comparison
HYCM has more account types than LMFX, as it offers four types of accounts: Fixed, Classic, Raw, and VIP. LMFX offers three types of accounts: Premium, Fixed, and Zero. Therefore, HYCM has more options and customization than LMFX in terms of account types.
HYCM vs LMFX Deposit Options Comparison
HYCM has more deposit and withdrawal options than LMFX, as it supports various payment methods such as credit/debit cards, wire transfer, Skrill, Neteller, WebMoney, Perfect Money, and crypto. LMFX supports only credit/debit cards, wire transfer, Skrill, Neteller, and FasaPay. Therefore, HYCM has more convenience and accessibility than LMFX in terms of deposit and withdrawal options.
HYCM vs LMFX Trading Platforms Comparison
HYCM and LMFX have the same trading platforms, as they both use MetaTrader 4 and MetaTrader 5. These are the most popular and user-friendly platforms for forex trading. They both support one-click trading, trailing stop, and pending orders.
HYCM vs LMFX Analytical Tools Comparison
HYCM has more analytical tools than LMFX, as it provides various features such as market news, economic calendar, trading signals, webinars, videos, ebooks, and courses. LMFX provides only market news and economic calendar. Therefore, HYCM has more resources and education than LMFX in terms of analytical tools.
HYCM vs LMFX. Which forex broker is better? Which forex broker should you choose?
Maybe say that HYCM is a better forex broker than LMFX in most aspects. HYCM has a higher level of regulation, more trading assets, lower trading fees, more account types, more deposit and withdrawal options, and more analytical tools than LMFX. However, the final decision depends on your personal preferences and trading goals. You can open a demo account with both brokers to test their services before making a choice.
