Compare HYCM vs NAGA
What is HYCM? What is NAGA?
HYCM is a forex and CFD broker that offers trading on various instruments, such as forex, indices, commodities, stocks, and cryptocurrencies. HYCM has been in the industry since 1977 and is regulated by multiple authorities, including the FCA, CySEC, CIMA, and DFSA.
NAGA is a social trading platform that allows traders to invest in various assets, such as forex, stocks, ETFs, futures, options, and cryptocurrencies. NAGA also features a social network where traders can interact, copy, and learn from each other. NAGA was founded in 2015 and is regulated by CySEC.
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 NAGA Regulation Comparison
HYCM has more regulatory licenses than NAGA, which means it has to comply with stricter rules and standards regarding client protection, security, and transparency. HYCM is regulated by the FCA in the UK, CySEC in Cyprus, CIMA in the Cayman Islands, and DFSA in the UAE. NAGA is only regulated by CySEC in Cyprus, which is a reputable but less stringent regulator than the FCA or the DFSA.
HYCM vs NAGA Trading Assets Comparison
NAGA offers more trading instruments than HYCM, with over 950+ assets available on its platform. This includes 300 currency pairs, 27 cryptocurrencies, and 400+ stocks and shares. NAGA also allows traders to trade CFDs on various markets, such as indices, commodities, futures, options, and ETFs. HYCM offers 300+ tradable instruments, including 69 currency pairs, 5 cryptocurrencies, and 100+ stocks and shares. HYCM also provides CFD trading on indices, commodities, metals, energies, and ETFs.
HYCM vs NAGA Trading Fees Comparison
The trading fees at both brokers depend on the account type and the instrument traded. NAGA charges variable spreads that start from 1 pip for the EUR/USD pair on its Standard Account. NAGA also charges a commission of $4 per lot for some instruments on its Pro Account. HYCM charges fixed spreads that start from 1.8 pips for the EUR/USD pair on its Fixed Account. HYCM also charges a commission of $4 per lot for some instruments on its Raw Account. Both brokers charge an inactivity fee of $10 per month after six months of no trading activity.
HYCM vs NAGA Account Types Comparison
Both brokers offer different account types to suit different trading styles and preferences. NAGA offers three account types: Standard, Pro, and Islamic. The Standard Account requires a minimum deposit of $250 and offers variable spreads and no commissions. The Pro Account requires a minimum deposit of $2,500 and offers lower variable spreads and commissions for some instruments. The Islamic Account is a swap-free account that follows the Sharia law and requires a minimum deposit of $250.
HYCM offers four account types: Fixed, Classic, Raw, and Islamic. The Fixed Account requires a minimum deposit of $100 and offers fixed spreads and no commissions. The Classic Account requires a minimum deposit of $100 and offers variable spreads and no commissions. The Raw Account requires a minimum deposit of $200 and offers tight variable spreads and commissions for some instruments. The Islamic Account is a swap-free account that follows the Sharia law and requires a minimum deposit of $100.
HYCM vs NAGA Deposit Options Comparison
Both brokers offer various payment methods for depositing and withdrawing funds from their accounts. NAGA supports bank transfer, credit/debit cards, Skrill, Neteller, Trustly, Paysafecard, Przelewy24, iDEAL, Giropay, Sofort, Crypto Cash, Dash, Ethereum, Litecoin, Dragonpay, Local Bank Transfer, Crypto Wallets (Bitcoin), etc.
HYCM supports bank transfer, credit/debit cards (Visa/MasterCard), Skrill (Moneybookers), Neteller (eWallet), WebMoney (eWallet), Perfect Money (eWallet), Crypto Wallets (Bitcoin/Ethereum), etc
HYCM vs NAGA Trading Platforms Comparison
Both brokers provide their clients with access to the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These platforms are widely used by traders around the world for their user-friendly interface, advanced charting tools, technical indicators, automated trading systems (Expert Advisors), market news feed etc. Both brokers also offer mobile trading apps for iOS and Android devices that allow traders to manage their accounts and trade on the go.
HYCM vs NAGA Analytical Tools Comparison
Both brokers offer various analytical tools and resources to help their clients with their trading decisions and strategies. NAGA features a social network where traders can interact, copy, and learn from each other. NAGA also provides market news, economic calendar, trading signals, webinars, tutorials, etc.
HYCM offers market news, economic calendar, trading signals, webinars, tutorials, etc. HYCM also provides access to third-party modules from Trading Central, a leading provider of technical analysis and market insights.
HYCM vs NAGA. 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 trading style, preferences, goals, and risk appetite. However, here are some possible factors that you may want to consider before making your decision:
- Regulation: If you value security and transparency, you may prefer HYCM over NAGA, as HYCM has more regulatory licenses from reputable authorities, such as the FCA and the DFSA. This means that HYCM has to follow stricter rules and standards regarding client protection, segregation of funds, anti-money laundering, etc. NAGA is only regulated by CySEC, which is a reputable but less stringent regulator than the FCA or the DFSA.
- Trading Assets: If you value diversity and variety, you may prefer NAGA over HYCM, as NAGA offers more trading instruments than HYCM, with over 950+ assets available on its platform. This includes 300 currency pairs, 27 cryptocurrencies, and 400+ stocks and shares. NAGA also allows traders to trade CFDs on various markets, such as indices, commodities, futures, options, and ETFs. HYCM offers 300+ tradable instruments, including 69 currency pairs, 5 cryptocurrencies, and 100+ stocks and shares. HYCM also provides CFD trading on indices, commodities, metals, energies, and ETFs.
- Trading Fees: If you value low-cost and competitive trading conditions, you may want to compare the trading fees at both brokers depending on the account type and the instrument traded. NAGA charges variable spreads that start from 1 pip for the EUR/USD pair on its Standard Account. NAGA also charges a commission of $4 per lot for some instruments on its Pro Account. HYCM charges fixed spreads that start from 1.8 pips for the EUR/USD pair on its Fixed Account. HYCM also charges a commission of $4 per lot for some instruments on its Raw Account. Both brokers charge an inactivity fee of $10 per month after six months of no trading activity.
- Account Types: If you value flexibility and customization, you may want to compare the account types offered by both brokers to suit your trading style and preferences. NAGA offers three account types: Standard, Pro, and Islamic. The Standard Account requires a minimum deposit of $250 and offers variable spreads and no commissions. The Pro Account requires a minimum deposit of $2,500 and offers lower variable spreads and commissions for some instruments. The Islamic Account is a swap-free account that follows the Sharia law and requires a minimum deposit of $250. HYCM offers four account types: Fixed, Classic, Raw, and Islamic. The Fixed Account requires a minimum deposit of $100 and offers fixed spreads and no commissions. The Classic Account requires a minimum deposit of $100 and offers variable spreads and no commissions. The Raw Account requires a minimum deposit of $200 and offers tight variable spreads and commissions for some instruments. The Islamic Account is a swap-free account that follows the Sharia law and requires a minimum deposit of $100.
- Deposit and Withdrawal Options: If you value convenience and speed, you may want to compare the payment methods supported by both brokers for depositing and withdrawing funds from their accounts. NAGA supports more payment methods than HYCM, including bank transfer, credit/debit cards (Visa/MasterCard), Skrill (eWallet), Neteller (eWallet), Trustly (eWallet), Paysafecard (eWallet), Przelewy24 (eWallet), iDEAL (eWallet), Giropay (eWallet), Sofort (eWallet), Crypto Cash (eWallet), Dash (Crypto), Ethereum (Crypto), Litecoin (Crypto), Dragonpay (Local Bank Transfer), Local Bank Transfer (Local Bank Transfer), Crypto Wallets (Bitcoin/Ethereum), etc. HYCM supports fewer payment methods than NAGA but still covers the most popular ones such as bank transfer, credit/debit cards (Visa/MasterCard), Skrill (Moneybookers) (eWallet), Neteller (eWallet) (eWallet), WebMoney (eWallet) (eWallet), Perfect Money (eWallet) (eWallet), Crypto Wallets (Bitcoin/Ethereum) etc.
- Trading Platforms: If you value user-friendliness and functionality, you may want to compare the trading platforms provided by both brokers to their clients. Both brokers provide their clients with access to the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These platforms are widely used by traders around the world for their user-friendly interface, advanced charting tools, technical indicators, automated trading systems (Expert Advisors), market news feed etc. Both brokers also offer mobile trading apps for iOS and Android devices that allow traders to manage their accounts and trade on the go.
- Analytical Tools: If you value education and social trading, you may want to compare the analytical tools and resources offered by both brokers to help their clients with their trading decisions and strategies. NAGA features a social network where traders can interact, copy, and learn from each other. NAGA also provides market news, economic calendar, trading signals, webinars, tutorials, etc. HYCM offers market news, economic calendar, trading signals, webinars, tutorials, etc. HYCM also provides access to third-party modules from Trading Central, a leading provider of technical analysis and market insights.
