Compare MTrading vs HYCM
What is MTrading? What is HYCM?
MTrading is a forex broker that offers CFD and crypto trading with low spreads, fast execution, negative balance protection, and instant withdrawals. It also provides a fully automated platform for copy trading and a partnership program with up to 60% revenue share.
HYCM is a forex broker that has over 40 years of experience and is regulated by multiple authorities such as FCA, CySEC, DFSA, and CIMA. It offers a straightforward MetaTrader platform experience and a proprietary mobile app. It also has third-party modules from Trading Central and a range of educational materials.
MTrading vs HYCM Regulation Comparison
MTrading is regulated by the International Financial Services Commission (IFSC) of Belize with license number IFSC/60/270/TS/14. It also complies with the Anti-Money Laundering (AML) and Know Your Customer (KYC) policies.
HYCM is regulated by four different authorities: the Financial Conduct Authority (FCA) of the UK with license number 186171, the Cyprus Securities and Exchange Commission (CySEC) of Cyprus with license number 259/14, the Dubai Financial Services Authority (DFSA) of the UAE with license number F000048, and the Cayman Islands Monetary Authority (CIMA) of the Cayman Islands with license number 1442313. It also follows the AML and KYC policies.
MTrading vs HYCM Trading Assets Comparison
MTrading offers over 100 trading instruments, including forex, metals, energies, indices, stocks, commodities, and cryptocurrencies. It has 28 currency pairs, 5 metals, 3 energies, 10 indices, 50 stocks, 4 commodities, and 9 cryptocurrencies.
HYCM offers over 300 trading instruments, including forex, metals, energies, indices, stocks, commodities, ETFs, and cryptocurrencies. It has 69 currency pairs, 15 metals, 5 energies, 21 indices, 100 stocks, 12 commodities, 12 ETFs, and 33 cryptocurrencies.
MTrading vs HYCM Trading Fees Comparison
MTrading has three types of accounts: Standard, Pro, and ECN. The Standard account has no commission but has higher spreads starting from 1.2 pips. The Pro account has lower spreads starting from 0.9 pips but charges a commission of $3 per lot per side. The ECN account has the lowest spreads starting from 0 pips but charges a commission of $6 per lot per side.
HYCM has four types of accounts: Fixed, Classic, Raw, and VIP. The Fixed account has fixed spreads starting from 1.8 pips and no commission. The Classic account has variable spreads starting from 1.2 pips and no commission. The Raw account has variable spreads starting from 0.2 pips and charges a commission of $4 per lot per side. The VIP account has variable spreads starting from 0.8 pips and charges a commission of $2 per lot per side.
MTrading vs HYCM Account Types Comparison
MTrading has three types of accounts: Standard, Pro, and ECN. HYCM has four types of accounts: Fixed, Classic, Raw, and VIP.
MTrading has a minimum deposit requirement of $100 for all types of accounts. It also offers Islamic accounts that are swap-free for Muslim traders. It supports leverage up to 1:1000 for forex trading.
HYCM has a minimum deposit requirement of $100 for the Fixed and Classic accounts, $200 for the Raw account, and $10,000 for the VIP account. It also offers Islamic accounts that are swap-free for Muslim traders. It supports leverage up to 1:500 for forex trading.
MTrading vs HYCM Deposit Options Comparison
MTrading and HYCM both offers various deposit and withdrawal options such as bank cards (Visa/Mastercard), e-wallets (Skrill/Neteller), bank wire transfer (SWIFT), local banking methods (depending on the country), and other methods (such as WebMoney). It does not charge any fees for deposits or withdrawals.
MTrading vs HYCM Trading Platforms Comparison
MTrading offers the MetaTrader 4 (MT4) platform for desktop, web, and mobile devices. It also has a mobile application for Android that allows traders to access their accounts, manage their funds, and trade on the go.
HYCM offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms for desktop, web, and mobile devices. It also has a proprietary mobile app called HYCM Trader that provides a user-friendly interface and unique charting tools.
MTrading vs HYCM Analytical Tools Comparison
MTrading offers various analytical tools such as economic calendar, market news, trading signals, technical analysis, and copy trading. It also has a partnership with Trading Central, a leading provider of market research and analysis.
HYCM offers various analytical tools such as economic calendar, market news, trading signals, technical analysis, and educational materials. It also has a partnership with Trading Central, a leading provider of market research and analysis.
MTrading 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 MTrading and HYCM have their own strengths and weaknesses. However, here are some possible factors that you can consider:
- Regulation: HYCM has more regulatory licenses than MTrading, which may give you more confidence and protection as a trader. However, MTrading also follows the AML and KYC policies, which are important for preventing fraud and money laundering .
- Trading Assets: HYCM has more trading instruments than MTrading, which may give you more diversity and opportunities in the market. However, MTrading also offers a wide range of assets, including cryptocurrencies, which are becoming more popular among traders .
- Trading Fees: MTrading and HYCM have different fee structures for their accounts, which may affect your profitability and trading costs. You should compare the spreads and commissions of each account type and choose the one that suits your trading volume and frequency.
- Account Types: MTrading and HYCM have different minimum deposit requirements and leverage levels for their accounts, which may affect your trading capital and risk management. You should choose the account type that matches your budget and risk appetite.
- Deposit and Withdrawal Options: MTrading and HYCM have similar deposit and withdrawal options, which may give you convenience and flexibility in managing your funds. However, you should also check the processing time and currency conversion rates of each option .
- Trading Platforms: MTrading and HYCM both offer the MetaTrader platform, which is a popular and reliable platform for forex trading. However, HYCM also offers the MetaTrader 5 platform, which has more features and functions than the MetaTrader 4 platform. HYCM also has its own mobile app, which may give you a better user experience than MTrading’s mobile app .
- Analytical Tools: MTrading and HYCM both offer various analytical tools, such as economic calendar, market news, trading signals, technical analysis, and educational materials. They also have a partnership with Trading Central, which is a leading provider of market research and analysis .
Ultimately, the best way to decide which broker is better for you is to try them out yourself. You can open a demo account with both brokers and test their services and features before making a final decision.
