Compare IronFX vs HYCM
What is IronFX? What is HYCM?
IronFX is a global broker that offers 10 trading platforms and more than 200 tradable instruments, including CFDs, spot metals, futures, stocks, spot indices and commodities. It is a trade name of Notesco Limited, which is registered in Bermuda and has several affiliate entities in different jurisdictions.
HYCM is a trusted brand that offers a straightforward MetaTrader platform experience and a proprietary mobile app. It is a trade name of Henyep Capital Markets (UK) Limited, which is authorised and regulated by the FCA in the UK and has offices in Dubai, Hong Kong, Kuwait and Cyprus.
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$ |
IronFX vs HYCM Regulation Comparison
IronFX is regulated by the FCA in the UK (license number 186171), CySEC in Cyprus (license number 259/14), DFSA in Dubai (license number F004885), CIMA in Cayman Islands (license number 1442313) and FSCA in South Africa (license number 45276).
HYCM is regulated by the FCA in the UK (license number 186171), CySEC in Cyprus (license number 259/14), DFSA in Dubai (license number F000048) and CIMA in Cayman Islands (license number 1442313).
IronFX vs HYCM Trading Assets Comparison
IronFX offers traders access to 83 currency pairs, 17 spot metals, 3 futures, 120 stocks, 26 spot indices and 17 spot commodities.
HYCM offers traders access to 70 currency pairs, 8 spot metals, 100 stocks, 28 spot indices and 21 spot commodities.
IronFX vs HYCM Trading Fees Comparison
IronFX charges variable spreads depending on the account type and market conditions. The average spread for EUR/USD is 1.2 pips on the Standard account, 0.7 pips on the Premium account and 0 pips on the Zero Fixed account. IronFX also charges a commission of $18 per lot on the Zero Fixed account.
HYCM charges variable spreads depending on the account type and market conditions. The average spread for EUR/USD is 1.8 pips on the Fixed account, 1.2 pips on the Classic account and 0.2 pips on the Raw account. HYCM also charges a commission of $4 per lot on the Raw account.
IronFX vs HYCM Account Types Comparison
IronFX offers four main account types: Standard, Premium, VIP and Zero Fixed. The minimum deposit for each account type is $100, $2,500, $20,000 and $500 respectively. IronFX also offers a Micro account with a minimum deposit of $10 and a maximum leverage of 1:1000.
HYCM offers three main account types: Fixed, Classic and Raw. The minimum deposit for each account type is $100, $200 and $200 respectively. HYCM also offers an Islamic account with no swap fees for Muslim traders.
IronFX vs HYCM Deposit Options Comparison
IronFX supports various deposit and withdrawal methods, including bank wire transfer, credit/debit cards, Skrill, Neteller, FasaPay, China UnionPay and Dotpay. IronFX does not charge any fees for deposits or withdrawals.
HYCM supports various deposit and withdrawal methods, including bank wire transfer, credit/debit cards, Skrill, Neteller, WebMoney and Bitcoin. HYCM does not charge any fees for deposits or withdrawals.
IronFX vs HYCM Trading Platforms Comparison
IronFX provides traders with access to the MT4 trading platform, which is available as a desktop application, a web-based platform and a mobile app. IronFX also offers the PMAM platform for money managers and the WebTrader platform for browser-based trading.
HYCM provides traders with access to the MT4 trading platform as well as its own proprietary mobile app called HYCM Trader. The MT4 platform is available as a desktop application, a web-based platform and a mobile app.
IronFX vs HYCM Analytical Tools Comparison
IronFX offers traders access to third-party modules from Trading Central, which provide technical analysis tools, market commentary and trading signals. IronFX also provides an economic calendar, market news, daily analysis and webinars.
HYCM offers traders access to Trading Central as well as Autochartist, which provide technical analysis tools, market commentary and trading signals. HYCM also provides an economic calendar, market news, daily analysis and webinars.
IronFX vs HYCM. 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, preferences and goals. There is no definitive answer to which broker is better, as both IronFX and HYCM have their own strengths and weaknesses. However, here are some possible factors that you may want to consider:
- Regulation: Both brokers are regulated by reputable authorities in multiple jurisdictions, which means they have to comply with strict rules and standards to protect their clients’ funds and interests. However, IronFX has one more regulator than HYCM, which is the FSCA in South Africa . This may give IronFX an edge in terms of credibility and security.
- Trading Assets: Both brokers offer a wide range of trading instruments, including CFDs, spot metals, futures, stocks, spot indices and commodities. However, IronFX has more currency pairs and spot metals than HYCM, while HYCM has more stocks and spot commodities than IronFX. This may affect your trading opportunities and diversification options.
- Trading Fees: Both brokers charge variable spreads depending on the account type and market conditions. However, IronFX has lower average spreads than HYCM on the Standard and Premium accounts, while HYCM has lower average spreads than IronFX on the Raw account. Additionally, both brokers charge commissions on their zero-spread accounts, but IronFX’s commission is higher than HYCM’s commission. This may impact your trading costs and profitability.
- Account Types: Both brokers offer multiple account types with different features and requirements. However, IronFX has a lower minimum deposit than HYCM on all account types except the Fixed account. IronFX also offers a Micro account with a very low minimum deposit and a high leverage ratio. This may suit your budget and risk appetite better.
- Deposit and Withdrawal Options: Both brokers support various payment methods, including bank wire transfer, credit/debit cards, e-wallets and cryptocurrencies. However, IronFX has more options than HYCM, such as FasaPay, China UnionPay and Dotpay. This may give you more convenience and flexibility in funding your account and withdrawing your profits.
- Trading Platforms: Both brokers provide access to the MT4 trading platform, which is one of the most popular and user-friendly platforms in the industry. However, IronFX also offers the PMAM platform for money managers and the WebTrader platform for browser-based trading. This may give you more choices and functionality in executing your trades.
- Analytical Tools: Both brokers offer access to third-party modules from Trading Central and Autochartist, which provide technical analysis tools, market commentary and trading signals. However, IronFX also offers an economic calendar, market news, daily analysis and webinars, while HYCM only offers an economic calendar, market news and webinars. This may enhance your trading knowledge and skills.
As you can see, there are many aspects to compare between IronFX and HYCM. Ultimately, the best broker for you is the one that meets your needs and expectations.
