Compare ThinkMarkets vs HYCM
What is ThinkMarkets? What is HYCM?
ThinkMarkets is an online broker that offers trading services for forex, CFDs, cryptocurrencies, stocks, indices, commodities, and metals.
HYCM is also an online broker that offers trading services for forex, CFDs, cryptocurrencies, stocks, indices, commodities, and metals. Both brokers have been established for more than a decade and are regulated by multiple authorities.
ThinkMarkets vs HYCM Regulation Comparison
ThinkMarkets holds five global Tier-1 licenses from ASIC (Australia), FCA (United Kingdom), FSA (Japan), FSCA (South Africa), and FSA (Seychelles). HYCM holds three global Tier-1 licenses from FCA (United Kingdom), CySEC (Cyprus), and DFSA (United Arab Emirates).
HYCM also holds one global Tier-2 license from CIMA (Cayman Islands) and one global Tier-3 license from FSA (St. Vincent & the Grenadines). Both brokers are considered trusted and reputable in the industry.
ThinkMarkets vs HYCM Trading Assets Comparison
ThinkMarkets offers more than 1,600 tradable instruments across various asset classes, while HYCM offers more than 300 tradable instruments.
ThinkMarkets has a wider range of forex pairs, cryptocurrencies, stocks, and indices than HYCM. HYCM has a slightly larger selection of commodities and metals than ThinkMarkets.
ThinkMarkets vs HYCM Trading Fees Comparison
ThinkMarkets offers variable spreads with no commissions on its Standard account and tight spreads with low commissions on its ThinkZero account. HYCM offers fixed spreads with no commissions on its Classic account and variable spreads with low commissions on its Raw account. The average spread for EUR/USD is 0.4 pips on ThinkMarkets’ ThinkZero account and 0.2 pips on HYCM’s Raw account.
Both brokers charge swap fees for holding positions overnight and do not charge deposit or withdrawal fees.
ThinkMarkets vs HYCM Account Types Comparison
ThinkMarkets offers two types of accounts: Standard and ThinkZero. The minimum deposit for the Standard account is $0 and for the ThinkZero account is $500.
HYCM also offers two types of accounts: Classic and Raw. The minimum deposit for the Classic account is $100 and for the Raw account is $200. Both brokers offer demo accounts, Islamic accounts, and joint accounts. HYCM also offers corporate accounts.
ThinkMarkets vs HYCM Deposit Options Comparison
ThinkMarkets supports various payment methods, including credit/debit cards, bank wire transfers, PayPal, Skrill, Neteller, BPAY, Crypto, Ethereum, and Tether.
HYCM supports credit/debit cards, bank wire transfers, Skrill, Neteller, WebMoney, Perfect Money, and Crypto. Both brokers process deposits and withdrawals within one business day.
ThinkMarkets vs HYCM Trading Platforms Comparison
ThinkMarkets offers three trading platforms: MetaTrader 4, MetaTrader 5, and ThinkTrader. MetaTrader 4 and MetaTrader 5 are popular and widely used platforms that support automated trading, custom indicators, and advanced charting tools. ThinkTrader is a proprietary platform that features intuitive design, powerful analytical tools, and consistent trading experience across mobile, desktop, and web.
HYCM also offers MetaTrader 4 and MetaTrader 5 as its trading platforms.
ThinkMarkets vs HYCM Analytical Tools Comparison
ThinkMarkets provides various analytical tools to help traders with their strategies, such as Autochartist, Trading Central, VPS Hosting, Economic Calendar, Market News, Market Sentiment Indicator, and Risk Management Tools.
HYCM also provides some analytical tools, such as Trading Calculators, Economic Calendar, Market News, Market Outlook Videos, Webinars, eBooks, and Courses.
ThinkMarkets vs HYCM. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that depends on your personal preferences, trading goals, and risk appetite. There is no definitive answer to which forex broker is better, as both ThinkMarkets and HYCM have their own strengths and weaknesses. You should also do your own research, read reviews from other traders, test the platforms with demo accounts, and compare other aspects such as customer service, education resources, bonuses and promotions, etc. The best forex broker for you is the one that meets your needs and expectations.
