Compare Trading212 vs HYCM
What is Trading212? What is HYCM?
Trading212 is a fintech company that offers commission-free investing in stocks, ETFs, forex, commodities, and more. It has a user-friendly and proprietary trading platform that supports web, desktop, and mobile devices. It is regulated by the FCA in the UK and the FSCS in Bulgaria.
HYCM is a forex and CFD broker that has been operating since 1977. It offers a range of trading instruments, including stocks, indices, commodities, cryptocurrencies, and more. It uses the MetaTrader 4 and 5 platforms, as well as its own mobile app. It is regulated by several authorities, including the FCA in the UK, the CySEC in Cyprus, the DFSA in Dubai, and the CIMA in the Cayman Islands.
Trading212 vs HYCM Regulation Comparison
Both Trading212 and HYCM are regulated by the FCA in the UK, which means they have to comply with strict rules and standards to protect their clients’ funds and interests. They also offer negative balance protection and segregated accounts for their customers.
However, HYCM has more global licenses than Trading212, as it is also authorized by the CySEC in Cyprus, the DFSA in Dubai, and the CIMA in the Cayman Islands. This means it can cater to a wider range of clients from different regions and jurisdictions.
Trading212 vs HYCM Trading Assets Comparison
Trading212 offers a larger number of tradable symbols than HYCM, with 1785 vs 1199 respectively. Trading212 also has more forex pairs (184 vs 70) and more stocks (1700 vs 1000) than HYCM.
However, HYCM has some advantages over Trading212 in terms of trading assets. For example, HYCM offers more indices (28 vs 18), more commodities (19 vs 15), more cryptocurrencies (12 vs 10), and more ETFs (100 vs 0) than Trading212. HYCM also allows trading of futures contracts, while Trading212 does not.
Trading212 vs HYCM Trading Fees Comparison
Trading212 has a clear advantage over HYCM in terms of trading fees, as it offers commission-free trading for all instruments. This means that traders only have to pay the spread and swap fees when trading with Trading212.
HYCM, on the other hand, charges commissions for some instruments, depending on the account type. For example, the Raw account charges $4 per round lot for forex and metals, while the Classic account charges no commissions but has higher spreads.
The spreads and swap fees vary depending on the instrument, market conditions, and account type. Generally speaking, Trading212 has lower spreads than HYCM for most instruments, especially for forex pairs. However, HYCM has lower swap fees than Trading212 for some instruments, such as cryptocurrencies.
Trading212 vs HYCM Account Types Comparison
Trading212 offers two types of accounts: Invest and CFD. The Invest account allows traders to buy and sell stocks and ETFs without leverage or commissions. The CFD account allows traders to trade forex, commodities, indices, cryptocurrencies, and more with leverage and commission-free.
HYCM offers three types of accounts: Classic, Raw, and VIP. The Classic account is suitable for beginners and has no commissions but higher spreads. The Raw account is suitable for experienced traders and has low spreads but commissions. The VIP account is suitable for high-volume traders and has personalized services and benefits.
The minimum deposit for Trading212 is $1 for both accounts. The minimum deposit for HYCM is $100 for the Classic account, $200 for the Raw account, and $10,000 for the VIP account.
Trading212 vs HYCM Deposit Options Comparison
Both Trading212 and HYCM offer a variety of deposit and withdrawal options for their clients. These include bank wire transfer, credit/debit cards, e-wallets (such as Skrill, Neteller, PayPal), and local payment methods (such as Sofort, iDeal, Giropay, etc.).
However, there are some differences between the two brokers in terms of deposit and withdrawal fees, processing times, and limits. For example, Trading212 does not charge any fees for deposits or withdrawals, while HYCM charges a $30 fee for bank wire withdrawals. Trading212 also has faster processing times than HYCM, as it usually takes 2-3 business days for withdrawals, while HYCM can take up to 7 business days. Trading212 also has higher limits than HYCM, as it allows up to $10,000 per transaction for deposits and withdrawals, while HYCM has a maximum of $5,000 per transaction.
Trading212 vs HYCM Trading Platforms Comparison
Trading212 has its own proprietary trading platform that is available for web, desktop, and mobile devices. The platform is user-friendly, intuitive, and customizable. It offers a range of features and tools, such as advanced charting, technical indicators, price alerts, economic calendar, news feed, trading signals, and more.
HYCM uses the MetaTrader 4 and 5 platforms, which are the most popular and widely used platforms in the forex industry. The platforms are available for web, desktop, and mobile devices. They offer a range of features and tools, such as advanced charting, technical indicators, expert advisors, automated trading, market depth, news feed, and more.
Both Trading212 and HYCM have their own mobile apps that are compatible with iOS and Android devices. The apps allow traders to access their accounts and trade on the go. They offer similar features and tools as their web and desktop counterparts.
Trading212 vs HYCM Analytical Tools Comparison
Both Trading212 and HYCM offer some analytical tools to help their clients make informed trading decisions. These include market news, economic calendar, trading signals, technical analysis, and more.
However, HYCM has an edge over Trading212 in terms of analytical tools, as it provides access to third-party modules from Trading Central. Trading Central is a leading provider of market research and analysis that offers various tools and reports, such as technical analysis indicators, market commentary, trading strategies, trade ideas, and more.
Trading212 vs HYCM. Which forex broker is better? Which forex broker should you choose?
There is no definitive answer to which forex broker is better or which one you should choose, as it depends on your personal preferences, trading style, goals, and needs. However, here are some general guidelines and suggestions to help you make an informed decision.
- If you are looking for a broker that offers commission-free trading, low spreads, a large number of trading instruments, and a user-friendly and proprietary trading platform, then Trading212 might be a better option for you. Trading212 is also regulated by the FCA in the UK and the FSCS in Bulgaria, which means it has a high level of security and protection for your funds.
- If you are looking for a broker that has more global licenses, more trading options, more analytical tools, and access to the MetaTrader 4 and 5 platforms, then HYCM might be a better option for you. HYCM is also regulated by several authorities, including the FCA in the UK, the CySEC in Cyprus, the DFSA in Dubai, and the CIMA in the Cayman Islands, which means it can cater to a wider range of clients from different regions and jurisdictions.
Ultimately, the best way to find out which broker suits you best is to try them out yourself. You can open a demo account with both brokers and test their services and features without risking any real money. You can also read some reviews and feedback from other traders who have used these brokers before. This way, you can get a better idea of their pros and cons and see if they match your expectations.
