Compare HYCM vs RoboMarkets
What is HYCM? What is RoboMarkets?
HYCM is a global broker that has been providing financial services since 1977. It is regulated by multiple authorities, such as CySEC, FCA, DFSA, and CIMA. It offers trading on forex, stocks, indices, commodities, cryptocurrencies, and ETFs through MetaTrader 4 and MetaTrader 5 platforms.
RoboMarkets is a European broker that was established in 2013. It is licensed by CySEC and operates under the MiFID II directive. It offers trading on more than 12,000 instruments, including forex, stocks, indices, metals, energy, commodities, and cryptocurrencies through MetaTrader 4, MetaTrader 5, R StocksTrader, and R Trader platforms.
HYCM vs RoboMarkets Regulation Comparison
Both brokers are regulated by the Cyprus Securities and Exchange Commission (CySEC), which is a reputable and strict regulator in the European Union. HYCM has additional licenses from the UK Financial Conduct Authority (FCA), the Dubai Financial Services Authority (DFSA), and the Cayman Islands Monetary Authority (CIMA), which enhance its credibility and trustworthiness. RoboMarkets does not have any other licenses besides CySEC, but it complies with the Markets in Financial Instruments Directive II (MiFID II), which ensures a high level of investor protection and transparency.
HYCM vs RoboMarkets Trading Assets Comparison
RoboMarkets has a wider range of trading assets than HYCM, as it offers more than 12,000 instruments across six markets. HYCM offers around 300 instruments across five markets. RoboMarkets has an advantage in terms of stock trading, as it provides access to over 11,000 US and European stocks with zero commission on some of them.
HYCM only offers around 100 US stocks with a fixed commission of $0.02 per share. RoboMarkets also has more options for cryptocurrency trading, as it offers 26 pairs with leverage up to 1:50. HYCM only offers 10 pairs with leverage up to 1:20.
HYCM vs RoboMarkets Trading Fees Comparison
Both brokers have competitive and transparent trading fees, but they differ in their pricing models and account types. HYCM has four types of accounts: Fixed, Classic, Raw, and VIP. The Fixed account has fixed spreads from 1.8 pips and no commission. The Classic account has variable spreads from 1.2 pips and no commission. The Raw account has variable spreads from 0.2 pips and a commission of $4 per lot round turn. The VIP account has variable spreads from 0.8 pips and a commission of $2 per lot round turn.
RoboMarkets has five types of accounts: Pro-Cent, Pro-Standard, ECN-Pro NDD, Prime, and R StocksTrader. The Pro-Cent account is designed for beginners and has variable spreads from 1.3 pips and no commission. The Pro-Standard account is suitable for experienced traders and has variable spreads from 1.3 pips and no commission. The ECN-Pro NDD account is intended for professional traders and has variable spreads from 0 pips and a commission of $20 per million USD traded. The Prime account is a premium account with variable spreads from 0 pips and a commission of $10 per million USD traded. The R StocksTrader account is for stock trading and has variable spreads from 0 pips and no commission on some stocks.
HYCM vs RoboMarkets Account Types Comparison
Both brokers offer different types of accounts to suit different trading styles and preferences. However, there are some notable differences between them. For example, HYCM requires a minimum deposit of $100 for all accounts except the VIP account, which requires $10,000. RoboMarkets requires a minimum deposit of $100 for all accounts except the R StocksTrader account, which requires $500. Another difference is that HYCM offers Islamic (swap-free) accounts for all account types except the Raw account.
RoboMarkets offers Islamic accounts only for the Pro-Cent and Pro-Standard accounts. Moreover, HYCM offers a special type of account for Swedish clients called ISK (Investment Savings Account), which has improved conditions for trading US stocks and ETFs on R StocksTrader. RoboMarkets does not have any similar offer.
HYCM vs RoboMarkets Deposit Options Comparison
Both brokers support various methods for depositing and withdrawing funds from their trading accounts. These include bank wire transfer, credit/debit cards, e-wallets, and cryptocurrencies. However, there are some differences in the fees and processing times. For example, HYCM charges a 2% fee for deposits via Skrill and Neteller, and a 1.8% fee for withdrawals via Skrill. RoboMarkets does not charge any fees for deposits or withdrawals via Skrill or Neteller. Another difference is that HYCM offers free withdrawal of funds twice a month, while RoboMarkets offers free withdrawal of funds once a month.
HYCM vs RoboMarkets Trading Platforms Comparison
Both brokers offer the popular MetaTrader 4 and MetaTrader 5 platforms, which are widely used by traders around the world. These platforms have advanced features, such as multiple chart types, technical indicators, trading signals, automated trading, and market news. However, there are some differences in the versions and functionalities of these platforms.
For example, HYCM offers the desktop, web, and mobile versions of MetaTrader 4 and MetaTrader 5. RoboMarkets offers the desktop, web, mobile, and multi-terminal versions of MetaTrader 4 and MetaTrader 5. Another difference is that HYCM supports hedging on both MetaTrader 4 and MetaTrader 5 platforms. RoboMarkets supports hedging only on MetaTrader 5 platform. In addition to MetaTrader platforms, both brokers offer their own proprietary platforms. HYCM offers R StocksTrader, which is a web-based platform for trading stocks and ETFs with zero commission on some of them. RoboMarkets offers R Trader, which is a web-based platform for trading more than 12,000 instruments with advanced tools, such as charts, watchlists, screeners, and strategy builder.
HYCM vs RoboMarkets Analytical Tools Comparison
Both brokers provide various analytical tools to help their clients make informed trading decisions. These include economic calendars, market news, trading calculators, webinars, and educational materials. However, there are some differences in the quality and quantity of these tools. For example, HYCM offers Trading Central, which is a leading provider of technical analysis and market insights. RoboMarkets does not offer Trading Central, but it offers Autochartist, which is a powerful tool for identifying trading opportunities based on chart patterns and technical indicators. Another difference is that HYCM offers daily market outlooks and weekly market reviews from its analysts. RoboMarkets offers daily market analysis from its experts as well as from Claws & Horns, an independent analytical company.
HYCM vs RoboMarkets. 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 it depends on your personal preferences, trading goals, and risk appetite. However, here are some of the main advantages and disadvantages of each broker to help you make an informed decision.
HYCM Advantages:
- It has a long and reputable history of providing financial services since 1977.
- It is regulated by multiple authorities, such as CySEC, FCA, DFSA, and CIMA, which enhance its credibility and trustworthiness.
- It offers Islamic (swap-free) accounts for all account types except the Raw account, which may appeal to some traders who follow Sharia law.
- It offers Trading Central, which is a leading provider of technical analysis and market insights.
- It offers a special type of account for Swedish clients called ISK (Investment Savings Account), which has improved conditions for trading US stocks and ETFs on R StocksTrader.
HYCM Disadvantages:
- It has a smaller range of trading assets than RoboMarkets, as it offers around 300 instruments across five markets.
- It charges a 2% fee for deposits via Skrill and Neteller, and a 1.8% fee for withdrawals via Skrill, which may increase your trading costs.
- It offers free withdrawal of funds twice a month, while RoboMarkets offers free withdrawal of funds once a month.
- It does not offer Autochartist, which is a powerful tool for identifying trading opportunities based on chart patterns and technical indicators.
RoboMarkets Advantages:
- It has a wider range of trading assets than HYCM, as it offers more than 12,000 instruments across six markets.
- It has an advantage in terms of stock trading, as it provides access to over 11,000 US and European stocks with zero commission on some of them.
- It has more options for cryptocurrency trading, as it offers 26 pairs with leverage up to 1:50.
- It does not charge any fees for deposits or withdrawals via Skrill or Neteller, which may reduce your trading costs.
- It offers Autochartist, which is a powerful tool for identifying trading opportunities based on chart patterns and technical indicators.
RoboMarkets Disadvantages:
- It does not have any other licenses besides CySEC, which may limit its access to some markets and clients.
- It offers Islamic accounts only for the Pro-Cent and Pro-Standard accounts, which may not suit some traders who follow Sharia law.
- It does not offer Trading Central, which is a leading provider of technical analysis and market insights.
- It supports hedging only on MetaTrader 5 platform, while HYCM supports hedging on both MetaTrader 4 and MetaTrader 5 platforms.
