Compare Weltrade vs HYCM
What is Weltrade? What is HYCM?
Weltrade is an international broker that has been providing online trading services since 2006. It offers various trading instruments, such as forex, CFDs, cryptocurrencies, metals, and commodities. It is regulated by the FSCA in South Africa, the IFSC in Belize, and the SVGFSA in Saint Vincent and the Grenadines.
HYCM is a trusted brand that has over 40 years of experience in the forex market. It offers forex, CFDs, stocks, indices, commodities, and cryptocurrencies trading. It is regulated by the FCA in the UK, the CySEC in Cyprus, the DFSA in Dubai, and the CIMA in the Cayman Islands.
Weltrade vs HYCM Regulation Comparison
- Weltrade is regulated by:
- The Financial Sector Conduct Authority (FSCA) of South Africa with license number 51024.
- The International Financial Services Commission (IFSC) of Belize with license number IFSC/60/350/TS/19-20.
- The Financial Services Authority (SVGFSA) of Saint Vincent and the Grenadines with registration number 21677 IBC 2013.
- HYCM is regulated by:
- 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 Dubai with license number F000048.
- The Cayman Islands Monetary Authority (CIMA) of the Cayman Islands with license number 1442313.
Weltrade vs HYCM Trading Assets Comparison
- Weltrade offers:
- Over 50 currency pairs, including majors, minors, and exotics.
- Over 30 CFDs on cryptocurrencies, such as Bitcoin, Ethereum, Ripple, Litecoin, and more.
- Over 10 CFDs on metals, such as gold, silver, platinum, palladium, and copper.
- Over 10 CFDs on commodities, such as oil, natural gas, coffee, sugar, and cocoa.
- HYCM offers:
- Over 60 currency pairs, including majors, minors, exotics, and emerging markets.
- Over 20 CFDs on cryptocurrencies, such as Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, and more.
- Over 15 CFDs on metals, such as gold, silver, platinum, palladium, and copper.
- Over 20 CFDs on commodities, such as oil, natural gas, coffee, sugar, cocoa, and more.
- Over 100 CFDs on stocks, such as Apple, Amazon, Facebook, Tesla, and more.
- Over 15 CFDs on indices, such as S&P 500, Dow Jones, Nasdaq, FTSE 100, and more.
Weltrade vs HYCM Trading Fees Comparison
- Weltrade charges:
- Variable or fixed spreads depending on the account type. The minimum spread for EUR/USD is 0 pips for the ZuluTrade account and 0.5 pips for the Pro account.
- Commissions ranging from $0 to $8 per lot depending on the account type and trading instrument. The ZuluTrade account has no commissions while the Pro account has commissions from $4 to $8 per lot for forex and from $6 to $12 per lot for metals.
- Swaps or rollover fees for holding positions overnight. The swap rates are updated daily on the website and can be positive or negative depending on the direction of the trade and the interest rate differential.
- An inactivity fee of $10 per month if the client does not have any trading activity for more than 90 days.
- HYCM charges:
- Variable or fixed spreads depending on the account type. The minimum spread for EUR/USD is 0.2 pips for the Raw account and 1.8 pips for the Classic account.
- Commissions of $4 per lot for the Raw account and no commissions for the Classic and VIP accounts.
- Swaps or rollover fees for holding positions overnight. The swap rates are updated daily on the website and can be positive or negative depending on the direction of the trade and the interest rate differential.
- An inactivity fee of $10 per month if the client does not have any trading activity for more than 90 days.
Weltrade vs HYCM Account Types Comparison
- Weltrade offers:
- Micro account: This is a beginner-friendly account that requires a minimum deposit of $25 and offers a leverage of up to 1:1000. It has fixed spreads from 2 pips and no commissions. It supports the MetaTrader 4 platform and allows micro lots trading.
- Premium account: This is an intermediate-level account that requires a minimum deposit of $200 and offers a leverage of up to 1:1000. It has variable spreads from 1.5 pips and no commissions. It supports the MetaTrader 4 platform and allows standard lots trading.
- Pro account: This is an advanced-level account that requires a minimum deposit of $500 and offers a leverage of up to 1:500. It has variable spreads from 0.5 pips and commissions from $4 to $8 per lot. It supports the MetaTrader 4 platform and allows standard lots trading.
- ZuluTrade account: This is a social trading account that allows clients to copy the trades of other successful traders. It requires a minimum deposit of $200 and offers a leverage of up to 1:500. It has variable spreads from 0 pips and no commissions. It supports the ZuluTrade platform and allows standard lots trading.
- Crypto account: This is a specialized account for trading cryptocurrencies. It requires a minimum deposit of $50 and offers a leverage of up to 1:3. It has variable spreads from 0 pips and commissions from $6 to $12 per lot. It supports the MetaTrader 4 platform and allows micro lots trading.
- HYCM offers:
- Classic account: This is a beginner-friendly account that requires a minimum deposit of $100 and offers a leverage of up to 1:200. It has fixed spreads from 1.8 pips and no commissions. It supports both MetaTrader 4 and MetaTrader 5 platforms and allows micro lots trading.
- Raw account: This is an advanced-level account that requires a minimum deposit of $200 and offers a leverage of up to 1:200. It has variable spreads from 0.2 pips and commissions of $4 per lot. It supports both MetaTrader 4 and MetaTrader 5 platforms and allows micro lots trading.
- VIP account: This is a premium-level account that requires a minimum deposit of $10,000 and offers a leverage of up to 1:200. It has variable spreads from 0.8 pips and no commissions. It supports both MetaTrader 4 and MetaTrader 5 platforms and allows standard lots trading.
Weltrade vs HYCM Deposit Options Comparison
Both brokers offer various options for deposits and withdrawals, such as bank wire transfer, credit/debit cards, e-wallets, and cryptocurrencies.
However, the availability, processing time, fees, and limits may vary depending on the option chosen by the client.
Weltrade has more e-wallet and cryptocurrency options than HYCM, but HYCM has lower minimum amounts for deposits and withdrawals via credit/debit cards and bank wire transfer.
Weltrade charges fees for Skrill, Neteller, and cryptocurrency withdrawals, while HYCM charges fees for wire transfer withdrawals of less than $300 and Skrill and Neteller withdrawals.
Weltrade vs HYCM Trading Platforms Comparison
Both brokers offer the MetaTrader 4 and MetaTrader 5 platforms, which are the most popular and widely used trading platforms in the forex market. They provide advanced charting tools, technical indicators, automated trading, and customizability for traders of all levels.
However, Weltrade also offers the ZuluTrade platform, which is a social trading platform that allows clients to copy the trades of other successful traders. This can be a useful feature for beginners who want to learn from experienced traders or for busy traders who want to save time and effort.
HYCM does not offer any social trading platform, but it does offer its own proprietary platform called PrimeTrader, which is a web-based platform that has a simple and user-friendly interface. It also offers access to over 120 trading instruments, including stocks and indices, which are not available on MetaTrader 4 or MetaTrader 5.
Weltrade vs HYCM Analytical Tools Comparison
- Weltrade offers:
- Market analysis: Weltrade provides daily market analysis articles on its website, covering various topics such as trading strategies, market pulse, trading psychology, and technical analysis. The articles are written by professional analysts and traders and are available in multiple languages.
- Trading signals: Weltrade offers free trading signals for its clients via the MetaTrader 4 platform. The signals are generated by a third-party provider called MQL5, which is a community of traders and developers. The signals are based on various criteria such as profitability, risk level, trading style, and instrument.
- Indicators: Weltrade supports the MetaTrader 4 and MetaTrader 5 platforms, which come with a wide range of built-in technical indicators, such as moving averages, oscillators, trend lines, and Fibonacci tools. The platforms also allow clients to download and install custom indicators from the MQL5 market or other sources.
- Calculators: Weltrade offers four types of calculators on its website, which help clients to calculate various aspects of their trading, such as margin, profit, swap, and pip value. The calculators are easy to use and can be customized according to the account type, currency pair, lot size, and leverage.
- HYCM offers:
- Market analysis: HYCM provides daily market analysis articles on its website, covering various topics such as market outlook, economic events, technical analysis, and trading tips. The articles are written by professional analysts and traders and are available in multiple languages.
- Trading signals: HYCM offers free trading signals for its clients via the Trading Central service. Trading Central is a leading provider of technical analysis and market research, which delivers actionable insights and recommendations for various instruments and timeframes. The signals are available on both the MetaTrader 4 and MetaTrader 5 platforms.
- Indicators: HYCM supports the MetaTrader 4 and MetaTrader 5 platforms, which come with a wide range of built-in technical indicators, such as moving averages, oscillators, trend lines, and Fibonacci tools. The platforms also allow clients to download and install custom indicators from the MQL5 market or other sources. In addition, HYCM offers three sets of tools from Trading Central for MetaTrader 4 users, which include alpha generation, risk management, and indicators lab. These tools help clients to enhance their trading performance with advanced analytics and optimization.
- Calculators: HYCM offers three types of calculators on its website, which help clients to calculate various aspects of their trading, such as margin, pip value, and currency converter. The calculators are easy to use and can be customized according to the account type, currency pair, lot size, and leverage.
Weltrade vs HYCM. Which forex broker is better? Which forex broker should you choose?
There is no definitive answer to the question of which forex broker is better or which one you should choose, as different brokers may suit different traders depending on their needs, preferences, goals, and strategies.Ultimately, the choice of a forex broker is a personal one that depends on many factors and requires careful research and comparison.
