Compare InstaForex vs HYCM
What is InstaForex? What is HYCM ?
InstaForex and HYCM are both online forex and CFD brokers that offer trading services to clients around the world. InstaForex was founded in 2007 and is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority of Saint Vincent and the Grenadines (FSA).
HYCM was established in 1977 and is regulated by the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, and the Cayman Islands Monetary Authority (CIMA) in the Cayman Islands.
InstaForex vs HYCM Regulation Comparison
Both brokers are regulated by reputable authorities, but HYCM has a longer track record and more licenses than InstaForex. HYCM is also a member of the Financial Services Compensation Scheme (FSCS) in the UK, which protects clients’ funds up to £85,000 in case of broker insolvency. InstaForex does not offer such protection to its clients.
InstaForex vs HYCM Trading Assets Comparison
Both brokers offer a wide range of trading assets, including forex, stocks, indices, commodities, cryptocurrencies, ETFs, and bonds. However, InstaForex has more currency pairs (107 vs 69) and more cryptocurrencies (14 vs 5) than HYCM. HYCM has more stocks (450 vs 120), indices (28 vs 23), commodities (15 vs 9), ETFs (21 vs 0), and bonds (4 vs 0) than InstaForex.
InstaForex vs HYCM Trading Fees Comparison
Both brokers charge variable spreads and commissions on some of their account types. InstaForex has four account types: Standard, Eurica, ECN, and PAMM. The Standard and Eurica accounts have no commissions but higher spreads, while the ECN and PAMM accounts have lower spreads but charge commissions. The minimum deposit for all accounts is $1. HYCM has three account types: Fixed, Classic, and Raw. The Fixed account has fixed spreads and no commissions, while the Classic and Raw accounts have variable spreads and charge commissions. The minimum deposit for the Fixed account is $100, for the Classic account is $200, and for the Raw account is $200.
InstaForex vs HYCM Account Types Comparison
Both brokers offer different account types to suit different trading styles and preferences. However, HYCM has higher minimum deposits than InstaForex, which may be a barrier for some traders. InstaForex also offers a PAMM account, which allows investors to copy the trades of successful traders or managers. HYCM does not offer such a service.
InstaForex vs HYCM Deposit Options Comparison
Both brokers offer various deposit and withdrawal options, including bank wire transfer, credit/debit cards, e-wallets, and local payment methods. However, InstaForex has more options than HYCM, such as Bitcoin, Skrill, Neteller, PayCo, UnionPay, Alipay, WeChat Pay, Boleto Bancario, etc. HYCM does not accept Bitcoin or some of the local payment methods that InstaForex does. Both brokers charge fees for some withdrawal methods, such as bank wire transfer or credit/debit cards.
InstaForex vs HYCM Trading Platforms Comparison
Both brokers offer MetaTrader 4 (MT4) as their main trading platform, which is a popular and user-friendly platform that supports multiple charting tools, indicators, expert advisors, automated trading, etc.
However, HYCM also offers MetaTrader 5 (MT5), which is an upgraded version of MT4 that has more features and capabilities, such as more timeframes, order types, market depth, etc. InstaForex does not offer MT5.
InstaForex vs HYCM Analytical Tools Comparison
Both brokers provide various analytical tools to help traders with their market analysis and decision making. These include economic calendars, news feeds, market reviews, trading signals, webinars, etc. However, HYCM has more tools than InstaForex, such as trading calculators, sentiment indicators, market outlooks, etc. HYCM also has a dedicated education center that offers courses, videos, e-books, quizzes, etc. for beginner and advanced traders. InstaForex does not have such a comprehensive education center.
InstaForex vs HYCM . Which forex broker is better? Which forex broker should you choose?
Choosing a certain forex broker depends on your personal preferences, trading goals, risk appetite, budget, etc. However, here are some possible advantages and disadvantages of each broker:
InstaForex advantages:
- Lower minimum deposits
- More currency pairs and cryptocurrencies
- PAMM account service
- More deposit and withdrawal options
InstaForex disadvantages:
- Fewer licenses and regulations
- No FSCS protection
- Higher spreads on some accounts
- No MT5 platform
HYCM advantages:
- More licenses and regulations
- FSCS protection
- Lower spreads on some accounts
- MT5 platform
HYCM disadvantages:
- Higher minimum deposits
- Fewer currency pairs and cryptocurrencies
- No PAMM account service
- Fewer deposit and withdrawal options
Ultimately, you should do your own research and due diligence before choosing a forex broker. You can also try their demo accounts or read their customer reviews to get a better idea of their services and performance.
