Compare Tickmill vs HYCM
What is Tickmill? What is HYCM?
Tickmill is an online forex broker that offers trading services in various instruments, such as forex, CFDs, commodities, indices, and cryptocurrencies. Tickmill was founded in 2014 and is regulated by the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Sector Conduct Authority (FSCA) of South Africa. Tickmill has over 725 tradable symbols and supports MetaTrader 4 as its trading platform.
HYCM is an online forex broker that offers trading services in various instruments, such as forex, CFDs, commodities, indices, stocks, and cryptocurrencies. HYCM was founded in 1977 and is regulated by the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Dubai Financial Services Authority (DFSA), and the Cayman Islands Monetary Authority (CIMA). HYCM has over 362 tradable symbols and supports MetaTrader 4 and MetaTrader 5 as its trading platforms.
Tickmill vs HYCM Regulation Comparison
Both Tickmill and HYCM are considered average-risk brokers, with an overall Trust Score of 82 out of 99 for Tickmill and 86 out of 99 for HYCM. However, HYCM has more global Tier-1 licenses than Tickmill, which means it is subject to higher regulatory standards and oversight. HYCM holds two Tier-1 licenses from the UK FCA and the Hong Kong SFC, while Tickmill holds one Tier-1 license from the UK FCA. Both brokers hold two Tier-2 licenses from the Cyprus CySEC and the UAE DFSA, while Tickmill also holds a Tier-2 license from the South Africa FSCA. HYCM holds one Tier-3 license from the Cayman Islands CIMA, while Tickmill does not hold any Tier-3 licenses.
Tickmill vs HYCM Trading Assets Comparison
Tickmill offers more trading assets than HYCM, with over 725 tradable symbols compared to HYCM’s 362 tradable symbols. Both brokers offer forex trading (spot or CFDs), cryptocurrency CFDs, and commodity CFDs. However, Tickmill also offers index CFDs, while HYCM also offers stock CFDs and international stock trading (non-CFD). Both brokers offer social trading or copy trading features, which allow traders to follow and copy the trades of other successful traders.
Tickmill vs HYCM Trading Fees Comparison
Both Tickmill and HYCM require a minimum deposit of $100 to open an account. However, Tickmill offers lower spreads than HYCM, which means lower trading costs for traders. Tickmill offers average spreads of 0.51 pips on the EUR/USD pair, while HYCM offers average spreads of 0.6 pips on the same pair. Both brokers charge commissions on some account types, such as ECN or Pro accounts, which offer lower spreads but higher commissions per lot traded. Both brokers also charge overnight swap fees or rollover fees for holding positions overnight, which vary depending on the instrument and direction of the trade.
Tickmill vs HYCM Account Types Comparison
Both Tickmill and HYCM offer different account types to suit different trading styles and preferences.
Tickmill offers three main account types: Classic, Pro, and VIP. The Classic account has no commissions but higher spreads, while the Pro and VIP accounts have lower spreads but charge commissions per lot traded. The minimum deposit for the Classic and Pro accounts is $100, while the minimum deposit for the VIP account is $50,000. The maximum leverage for all account types is 1:500.
HYCM offers four main account types: Fixed, Classic, Raw, and VIP. The Fixed account has fixed spreads but higher minimum deposits ($1000), while the Classic account has variable spreads but lower minimum deposits ($100). The Raw account has lower spreads but charges commissions per lot traded ($4 per round turn), while the VIP account has lower spreads and commissions but requires a higher minimum deposit ($10,000). The maximum leverage for all account types is 1:200.
Tickmill vs HYCM Deposit Options Comparison
Both Tickmill and HYCM offer various deposit and withdrawal options for their clients, such as bank wire transfer, credit/debit cards, e-wallets (Skrill, Neteller, etc.), and local payment methods (FasaPay, NganLuong, etc.).
However, Tickmill does not charge any fees for deposits or withdrawals, while HYCM charges some fees depending on the method and amount.
For example, HYCM charges a $30 fee for bank wire withdrawals below $300, and a 1.5% fee for credit/debit card withdrawals above $5,000. Both brokers process withdrawal requests within one business day, but the actual time may vary depending on the method and the bank.
Tickmill vs HYCM Trading Platforms Comparison
Both Tickmill and HYCM support MetaTrader 4 as their main trading platform, which is a popular and widely used platform among forex traders. MetaTrader 4 offers advanced charting tools, technical indicators, automated trading systems (Expert Advisors), and a user-friendly interface.
However, HYCM also supports MetaTrader 5, which is an upgraded version of MetaTrader 4 that offers more features, such as more timeframes, more order types, more indicators, and a built-in economic calendar.
Both brokers also offer mobile trading apps for iOS and Android devices, which allow traders to access their accounts and trade on the go.
Tickmill vs HYCM Analytical Tools Comparison
Both Tickmill and HYCM offer various analytical tools to help their clients make informed trading decisions. Tickmill offers a market analysis section on its website, which provides daily market commentary, technical analysis, fundamental analysis, and trading signals. Tickmill also offers an economic calendar, a forex calculator, a VPS service, and a trader’s blog.
HYCM offers a market outlook section on its website, which provides daily market commentary, technical analysis, fundamental analysis, and trading signals. HYCM also offers an economic calendar, a forex calculator, a VPS service, a trader’s blog, and a trading central service. Trading central is a third-party provider of market analysis and research reports that covers various instruments and markets.
Tickmill vs HYCM. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that can affect your trading experience and results. There are many factors to consider, such as regulations, fees, platforms, tools, customer service, and more. here are some key differences and similarities between Tickmill and HYCM:
- Regulation: Both brokers are regulated by reputable bodies, such as the UK’s Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC) . HYCM also holds licenses from the Hong Kong Securities and Futures Commission (SFC) and the Dubai Financial Services Authority (DFSA), while Tickmill is regulated by the South African Financial Industry Authority (FSCA) and Central Bank of the United Arab Emirates. Both brokers have a high confidence score of 82 for Tickmill and 86 for HYCM over 991.
- Fees: Both brokers offer competitive spreads and low commissions on their trading accounts. Tickmill has a slightly lower average spread of 0.51 pips on EUR/USD, compared to 0.6 pips on HYCM2. Both brokers charge a commission of $4 per spinning lot on their ECN accounts. Both brokers also offer free overnight Islamic accounts for qualified traders.
- Platform: Both brokers support the popular MetaTrader 4 (MT4) platform, which offers advanced charting, technical analysis, automated trading and custom indicators. Tickmill also offers MetaTrader 5 (MT5), which has more features and tools than MT4. HYCM also offers its own proprietary platform, called HYCM Mobile, which allows traders to access the markets from their smartphone or tablet.
- Instruments: Both brokers offer a wide range of trading instruments, including forex, indices, commodities, stocks, cryptocurrencies, and ETFs. Tickmill has more tradable symbols than HYCM, with 725 vs 3621. However, HYCM offers more forex pairs than Tickmill, with 70 vs 631. Both brokers offer crypto CFDs, but does not offer physical cryptocurrencies.
- Research: Both brokers offer various research tools and resources to their clients, such as market news, analysis, webinars, videos, ebooks, and calendars. . Tickmill provides a superior market research service to HYCM. Tickmill also has a social trading feature that allows traders to copy the trades of other successful traders on the platform.
- Education: Both brokers offer educational materials and courses for beginner and intermediate traders, such as articles, tutorials, glossary, FAQ and Riddle. HYCM offers slightly better education than Tickmill. HYCM also has a dedicated education center covering various topics and strategies in forex trading.
In a nutshell, both Tickmill and HYCM are reputable and regulated forex brokers that offer competitive fees, platforms, tools, research and education. The best choice for you may depend on your personal preferences and trading goals. You can compare them in more detail by visiting their website or reading online reviews from other traders.
