Compare HYCM vs WorldForex
What is HYCM? What is WorldForex?
HYCM is a global forex and CFD broker that is part of the Henyep Group, a conglomerate with over 40 years of experience in financial markets. World Forex is an online broker that offers forex, CFD, and binary options trading on various platforms, including MetaTrader 4 and WebTrader.
HYCM vs WorldForex Regulation Comparison
HYCM is regulated by multiple financial authorities, including the FCA in the UK, CySEC in Cyprus, DFSA in Dubai, and CIMA in the Cayman Islands. World Forex is registered in the British Virgin Islands and claims to be regulated by the Vanuatu Financial Services Commission, but this is not a reputable regulator.
HYCM vs WorldForex Trading Assets Comparison
HYCM offers over 300 trading instruments, including forex, commodities, stocks, ETFs, indices, and cryptocurrencies. World Forex offers over 50 trading instruments, including forex, commodities, indices, and binary options.
HYCM vs WorldForex Trading Fees Comparison
HYCM has low CFD and average forex trading fees. It charges no deposit and withdrawal fees in most cases, but it has a high inactivity fee of $10 per month after 90 days of inactivity.
World Forex has low forex and binary options trading fees. It charges no deposit fees, but it has a withdrawal fee of 2% or $10, whichever is higher. It also has an inactivity fee of $10 per month after 180 days of inactivity.
HYCM vs WorldForex Account Types Comparison
HYCM offers three account types: Fixed, Classic, and Raw. The Fixed and Classic accounts have no commission but high spreads, while the Raw account has low spreads but a commission of $4 per round lot. The minimum deposit for all accounts is $100.
World Forex offers two account types: Standard and Binary. The Standard account has variable spreads and no commission, while the Binary account has fixed payouts and no commission. The minimum deposit for both accounts is $1.
HYCM vs WorldForex Deposit Options Comparison
HYCM supports various deposit and withdrawal options, including credit/debit cards, bank wire transfer, Skrill, Neteller, WebMoney, Perfect Money, and cryptocurrencies.
World Forex supports fewer deposit and withdrawal options, including credit/debit cards, bank wire transfer, Skrill, Neteller, WebMoney, FasaPay, and Perfect Money.
HYCM vs WorldForex Trading Platforms Comparison
HYCM supports both MetaTrader 4 and MetaTrader 5 platforms for desktop, web, and mobile trading. It also provides a comprehensive market education suite for traders of all levels.
World Forex supports MetaTrader 4 and WebTrader platforms for desktop, web, and mobile trading. It also provides some market analysis tools and educational materials for traders.
HYCM vs WorldForex Analytical Tools Comparison
HYCM provides some analytical tools for traders, such as economic calendar, market outlook, trading signals, and trading calculators. World Forex provides fewer analytical tools for traders, such as economic calendar, market news, and trading signals.
HYCM vs WorldForex. 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, goals, and preferences. However, here are some general advice on which broker might be better for you.
- If you are looking for a reliable and regulated broker with a long history and a global presence, you might prefer HYCM. HYCM is regulated by multiple reputable financial authorities, such as the FCA in the UK and CySEC in Cyprus, which means it has to follow strict rules and standards to protect its clients’ funds and interests. World Forex, on the other hand, is registered in the British Virgin Islands and claims to be regulated by the Vanuatu Financial Services Commission, which is not a well-known or respected regulator. This means that World Forex might not offer the same level of security and transparency as HYCM.
- If you are looking for a diverse and competitive range of trading instruments and fees, you might prefer HYCM. HYCM offers over 300 trading instruments, including forex, commodities, stocks, ETFs, indices, and cryptocurrencies. It also has low CFD and average forex trading fees, and no deposit and withdrawal fees in most cases. World Forex offers only over 50 trading instruments, including forex, commodities, indices, and binary options. It also has low forex and binary options trading fees, but it charges a withdrawal fee of 2% or $10, whichever is higher.
- If you are looking for a flexible and affordable account type, you might prefer World Forex. World Forex offers two account types: Standard and Binary. Both accounts have variable spreads and no commission, and the minimum deposit for both accounts is only $1. This means that you can start trading with a very low investment and switch between forex and binary options trading easily. HYCM offers three account types: Fixed, Classic, and Raw. All accounts have a minimum deposit of $100, which is higher than World Forex’s. The Fixed and Classic accounts have no commission but high spreads, while the Raw account has low spreads but a commission of $4 per round lot. This means that you have to choose between paying more upfront or paying more per trade.
- If you are looking for an advanced and user-friendly trading platform, you might prefer HYCM. HYCM supports both MetaTrader 4 and MetaTrader 5 platforms for desktop, web, and mobile trading. These are the most popular and widely used platforms in the forex industry, offering a variety of features, tools, indicators, charts, and customization options. HYCM also provides a comprehensive market education suite for traders of all levels, covering topics such as trading basics, strategies, analysis, psychology, and risk management. World Forex supports MetaTrader 4 and WebTrader platforms for desktop, web, and mobile trading. These are also good platforms, but they might not offer the same level of functionality and versatility as MetaTrader 5. World Forex also provides some market analysis tools and educational materials for traders, but they might not be as extensive or in-depth as HYCM’s.
- If you are looking for some analytical tools to help you with your trading decisions, you might prefer HYCM. HYCM provides some useful tools for traders, such as economic calendar, market outlook, trading signals, and trading calculators. These tools can help you stay updated on the latest market events, trends, opportunities, and risks. World Forex also provides some analytical tools for traders, such as economic calendar, market news, and trading signals, but they might not be as comprehensive or accurate as HYCM’s.
In conclusion, both HYCM and World Forex have their own advantages and disadvantages. Ultimately, the best forex broker for you depends on your personal preferences and needs.
