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Our top alternative brokers to HYCM
ATFX
4.4
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73.40% of retail CFD accounts lose money
ETX Capital
4.3
Read review
Our top alternative brokers to HYCM
ATFX
4.4
Visit broker
73.40% of retail CFD accounts lose money
ETX Capital
4.3
Read review
HYCM Alternatives

The best alternatives to HYCM are

  1. ATFX - Global CFD and forex broker
  2. ETX Capital - Global CFD and forex broker
  3. AvaTrade - Global CFD and forex broker
  4. CMC Markets - Global CFD and forex broker

Let's see in a bit more detail how the HYCM alternatives compare to HYCM and each other:

HYCM alternatives comparison
HYCM ATFX ETX Capital AvaTrade CMC Markets
Overall score 4.3 4.4 4.3 4.5 4.7
Fees score 4.1 stars 4.3 stars 2.8 stars 3.4 stars 3.8 stars
Account opening score 5.0 stars 5.0 stars 5.0 stars 5.0 stars 4.1 stars
Deposit and withdrawal score 4.5 stars 4.5 stars 4.5 stars 4.5 stars 4.8 stars
Web platform score 2.8 stars 2.8 stars 4.0 stars 3.8 stars 4.5 stars
Markets and products score 2.0 stars 1.5 stars 1.8 stars 2.0 stars 2.2 stars
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71% of retail CFD accounts lose money
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73.40% of retail CFD accounts lose money
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72% of retail CFD accounts lose money
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73% of retail CFD accounts lose money

Why are these brokers considered good alternatives to HYCM? There are many areas based on which HYCM can be compared with others. When we say a given online broker is a good alternative to HYCM we mean these brokers are comparable in the following areas:

  • The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
  • The type of clients they target, i.e. beginners, experienced investors, or day traders.

HYCM alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

  • HYCM is recommended for forex and cfd traders who prefer the metatrader platform
  • ATFX is recommended for forex and cfd traders familiar with the metatrader 4 trading platform
  • ETX Capital is recommended for forex and cfd traders looking for great funding and withdrawal options and an easy-to-use platform
  • AvaTrade is recommended for forex and cfd traders looking for an option to use metatrader platforms
  • CMC Markets is recommended for forex and cfd traders looking for an advanced trading platform with many research tools

Important factors of finding HYCM alternatives

So far BrokerChooser has reviewed 84 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

  • open a live account
  • check over 100 criteria, with weighting based on readers' preferences
  • refresh data regularly

Whether HYCM or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. HYCM is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost HYCM alternative.

Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At HYCM this is not a problem as you can have it ready on the same day you registered.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at HYCM, this might not be the case at its alternatives.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given HYCM alternative is a must.


Now let's dive into the details of how HYCM and its alternatives perform in the most important areas!

HYCM alternatives
HYCM

HYCM or Henyep Markets is a global CFD and forex broker. HYCM's parent company, Henyep was established in 1977. The broker is regulated by several financial authorities globally, including the UK Financial Services Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).

HYCM's UK operation is considered safe because it has a long track record and it is regulated by the top-tier FCA.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex and cfd traders who prefer the metatrader platform

Pros Cons
Low forex and CFD fees Only forex and CFD products
Great educational content Trading platforms have outdated design
User-friendly account opening Inactivity fee

Visit broker
71% of retail CFD accounts lose money

Fees
4.1

HYCM has low forex and CFD trading fees. It's also great that the broker charges no deposit and withdrawal fees in most cases. On the negative side, there is a quite high inactivity fee.
Pros Cons
Low forex fees Inactivity fee
Low CFD fees
HYCM alternatives trading fees
HYCM ATFX ETX Capital AvaTrade CMC Markets
S&P 500 index CFD fee $1.0 $2.1 $3.0 $1.1 $1.5
Europe 50 index CFD fee $0.9 $1.7 $2.9 $0.8 $1.9
EURUSD benchmark fee $7.1 $7.3 $9.4 $10.3 $8.0
GBPUSD benchmark fee $8.2 $5.1 $7.6 $9.2 $5.9

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stock and $20k for FX

Visit broker More
71% of retail CFD accounts lose money

Account opening
5.0

The account opening at HYCM is seamless and fully digital. Our account was verified within one business day. The minimum deposit is also low: $100 for Classic and Fixed accounts and $200 for Raw accounts.
Pros Cons
Fast None
Fully digital
Low minimum deposit
HYCM alternatives minimum deposit and account open times
HYCM ATFX ETX Capital AvaTrade CMC Markets
Minimum deposit $100 $500 $100 $100 $0
Time to open account 1 day 1 day 1 day 1 day 1-3 days

Learn more about HYCM minimum deposit here.

Visit broker More
71% of retail CFD accounts lose money

Deposit and withdrawal
4.5

HYCM offers free and fast deposit and withdrawal options, including traditional methods such as bank transfer and credit card funding as well as various e-wallets. On the other hand, the number of available account currencies lags behind some of HYCM's competitors.
Pros Cons
Credit/Debit card available Average account currency selection
Free withdrawal
No deposit fee
HYCM and alternatives withdrawal options and fees
HYCM ATFX ETX Capital AvaTrade CMC Markets
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card Yes Yes Yes Yes Yes
Electronic wallets Yes Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $0 $0

Visit broker More
71% of retail CFD accounts lose money

Web trading platform
2.8

HYCM's web trading platform is provided by MetaTrader. It is highly customizable, available in many languages and has a clear fee report. On the other hand, the platform lacks a two-step login or price alerts and its design is outdated.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Order confirmation Poor design
HYCM - Web trading platform
HYCM and alternatives trading platform scores
HYCM ATFX ETX Capital AvaTrade CMC Markets
Web platform score 2.8 stars 2.8 stars 4.0 stars 3.8 stars 4.5 stars
Mobile platform score 3.8 stars 3.8 stars 4.5 stars 4.7 stars 4.5 stars
Desktop platform score 3.4 stars 3.4 stars 3.4 stars 3.4 stars 3.4 stars

Learn more about HYCM's web trading platform in the detailed HYCM review.

Visit broker
71% of retail CFD accounts lose money

Markets and products
2.0

At HYCM you can only trade with forex and other CFDs (commodities, stock indices, futures, and share CFDs). Popular asset classes, such as real stocks, bonds, mutual funds and options are missing.
HYCM and alternatives markets and products
HYCM ATFX ETX Capital AvaTrade CMC Markets
Stock No No No No No
ETF No No No No No
Forex Yes Yes Yes Yes Yes
Fund No No No No No
Bond No No No No No
Options No No No No No
Futures No No No No No
CFD Yes Yes Yes Yes Yes
Crypto Yes Yes Yes Yes Yes

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71% of retail CFD accounts lose money

Verdict

HYCM is a forex and CFD broker regulated by several authorities globally, including the top-tier FCA.

On the plus side, HYCM has low forex and CFD fees. The education section, especially the webinars are more informative and enjoyable than what some other brokers offer. The account opening is seamless and there are a lot of free deposit & withdrawal options.

On the flip side, the product portfolio at HYCM is limited as the broker only offers forex and CFDs. In our view, the MetaTrader platforms that the broker uses have an outdated design. HYCM charges an inactivity fee: $10 per month after only 90 days of inactivity.

We recommend HYCM for those who are interested in CFD and forex trading and prefer MetaTrader trading platforms. Feel free to test it via the demo account.

HYCM
Summary HYCM is a global forex and CFD broker regulated by many financial authorities globally, including the top-tier FCA.
Fees score 4.1 stars
Recommended for Forex and CFD traders who prefer the MetaTrader platform

Visit broker More
71% of retail CFD accounts lose money

HYCM alternatives
ATFX

ATFX has taken the decision to cease providing services to elective professional and retail clients with immediate effect. It is therefore unable to accept any applications. Services to per se professional clients (e.g. financial institutions) will not be impacted. As you cannot open an account at ATFX anymore try our broker finder tool to discover the broker most suitable to your needs or check the lists of the best CFD or forex brokers in 2021.

ATFX is the brand used by branches of global financial group AT Group that provide CFD/forex trading services. ATFX has four legal entities, each with different regulations and services. In this review, we tested the services of AT Global Markets (UK) Limited, which is regulated by the top-tier UK Financial Conduct Authority (FCA).

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.40% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex and cfd traders familiar with the metatrader 4 trading platform

Pros Cons
Low forex fees Limited product portfolio
Fast and easy account opening Slow email support
Free deposit and withdrawal options No fundamental data

Visit broker
73.40% of retail CFD accounts lose money

Fees
4.3

ATFX has low forex fees, as well as no inactivity and withdrawal fees.
Pros Cons
Low forex fees None
No withdrawal fee
No inactivity fee
HYCM vs. ATFX: Trading fees
ATFX HYCM
Apple benchmark fee $8.3 $4.7
Vodafone benchmark fee - -
EURUSD benchmark fee $7.3 $7.1

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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73.40% of retail CFD accounts lose money

Account opening
5.0

ATFX has a user-friendly and fully digital account opening process, usually taking no more than a day. On the flip side, the minimum deposit is high for non-Standard accounts.
Pros Cons
Fast High minimum deposit for accounts other than 'Standard'
Fully digital
User-friendly
HYCM vs. ATFX: Minimum deposit, time to open an account
ATFX HYCM
Minimum deposit $500 $100
Time to open account 1 day 1 day

If you are interested more in ATFX minimum deposit, this overview will help you.

Visit broker More
73.40% of retail CFD accounts lose money

Deposit and withdrawal
4.5

ATFX offers free and fast deposit and withdrawal. Options for funding your account include bank transfer, credit/debit cards, and electronic wallets.
Pros Cons
Credit/Debit card available A limited number of available base currencies
Free withdrawal
No deposit fee
HYCM vs. ATFX: Withdrawal options
ATFX HYCM
Bank transfer Yes Yes
Credit/debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

Visit broker More
73.40% of retail CFD accounts lose money

Web trading platform
2.8

The ATFX web trading platform is provided by MetaTrader. It is highly customizable and has a clear fee report, but it lacks a two-step login and price alerts, and the design is outdated.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Order confirmation Poor design
Web trading platform of ATFX, a HYCM alternative
HYCM vs. ATFX: Trading platform scores
ATFX HYCM
Web platform score 2.8 stars 2.8 stars
Mobile platform score 3.8 stars 3.8 stars
Desktop platform score 3.4 stars 3.4 stars

Learn more about ATFX's web trading platform in the detailed ATFX review.

Visit broker
73.40% of retail CFD accounts lose money

Markets and products
1.5

ATFX provides only forex, CFDs and cryptos. It lacks other popular asset classes such as real stocks, mutual funds or bonds.
HYCM vs. ATFX: Markets and products
ATFX HYCM
Stock No No
ETF No No
Forex Yes Yes
Fund No No
Bond No No
Options No No
Futures No No
CFD Yes Yes
Crypto Yes Yes

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73.40% of retail CFD accounts lose money

Verdict

ATFX is regulated by several financial authorities globally, including the top-tier FCA.

On the plus side, ATFX has low forex fees. The account opening process is easy, and multiple options are offered for deposit and withdrawal, all free of charge.

ATFX  has some drawbacks, though. The product range is limited to FX, CFDs, and cryptos. Email support can be slow, and fundamental data research is missing.

As trading fees are low and you can use a demo account, feel free to try ATFX.

ATFX
Summary ATFX is the forex/CFD brokerage arm of global financial group AT Group. It is regulated by several financial authorities globally, such as the UK FCA or CySEC of Cyprus.
Fees score 4.3 stars
Recommended for Forex and CFD traders familiar with the MetaTrader 4 trading platform

Visit broker More
73.40% of retail CFD accounts lose money

HYCM alternatives
ETX Capital

ETX Capital is a global CFD and FX broker. Its parent company, Monecor (London) Ltd was established in 1965 and is regulated by the Financial Conduct Authority (FCA) making it safe to invest your money with.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.42% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex and cfd traders looking for great funding and withdrawal options and an easy-to-use platform

Pros Cons
Free and multiple deposit and withdrawal options High CFD fees
Easy and fast account opening Only CFDs, forex, and crypto offered
Great educational tools Basic research tools

Read review

Fees
2.8

ETX Capital has low forex fees and there are no withdrawal fees. On the other hand, the stock CFD fees are high and there is high inactivity charged.
Pros Cons
Low forex fees Inactivity fee
No withdrawal fee High stock CFD fees
HYCM vs. ETX Capital: Trading fees
ETX Capital HYCM
Apple benchmark fee $33.6 $4.7
Vodafone benchmark fee $29.3 -
EURUSD benchmark fee $9.4 $7.1

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

Read review
76.42% of retail CFD accounts lose money

Account opening
5.0

ETX Capital's account opening is hassle-free and straightforward. Your account should be ready for trading on the same day.
Pros Cons
Fast None
Fully digital
Low minimum deposit
HYCM vs. ETX Capital: Minimum deposit, time to open an account
ETX Capital HYCM
Minimum deposit $100 $100
Time to open account 1 day 1 day

If you are interested more in ETX Capital minimum deposit, this overview will help you.

Read review
76.42% of retail CFD accounts lose money

Deposit and withdrawal
4.5

ETX Capital's deposit and withdrawal are free, the processes are fast, and can be done in several methods.
Pros Cons
Credit/Debit card available None
Free withdrawal
No deposit fee
HYCM vs. ETX Capital: Withdrawal options
ETX Capital HYCM
Bank transfer Yes Yes
Credit/debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

Read review
76.42% of retail CFD accounts lose money

Web trading platform
4.0

ETX Capital has a great web trading platform. It is user-friendly with a great search function and customizability. On the negative side, it lacks two-step login and a clear fee report.
Pros Cons
User-friendly No clear fee report available
Good search function No two-step (safer) login
Good customizability (for charts, workspace)
Web trading platform of ETX Capital, a HYCM alternative
HYCM vs. ETX Capital: Trading platform scores
ETX Capital HYCM
Web platform score 4.0 stars 2.8 stars
Mobile platform score 4.5 stars 3.8 stars
Desktop platform score 3.4 stars 3.4 stars

Learn more about ETX Capital's web trading platform in the detailed ETX Capital review.

Read review

Markets and products
1.8

At ETX Capital, you can trade only with CFDs, forex, and cryptos. It lacks real stocks, ETFs, mutual funds, bonds, options, and futures.
HYCM vs. ETX Capital: Markets and products
ETX Capital HYCM
Stock No No
ETF No No
Forex Yes Yes
Fund No No
Bond No No
Options No No
Futures No No
CFD Yes Yes
Crypto Yes Yes

Read review
76.42% of retail CFD accounts lose money

Verdict

ETX Capital is regulated by the top-tier FCA.

On the plus side, you can use a lot of deposit and withdrawal options and they are free of charge. We liked the seamless and hassle-free account opening. There is a wide range of educational tools and they have great quality.

ETX Capital has some drawbacks though. The CFD fees are high. Its product range is limited to FX, CFDs, and cryptos. The research tools are limited. 

As there is only a small minimum deposit, there are 5 free withdrawals, and the inactivity fee only kicks in after three months, feel free to try ETX Capital.

ETX Capital
Summary ETX Capital is a global forex and CFD broker regulated by the UK FCA. Its parent company, Monecor (London) Ltd is listed on the London Stock Exchange.
Fees score 2.8 stars
Recommended for Forex and CFD traders looking for great funding and withdrawal options and an easy-to-use platform

Read review
76.42% of retail CFD accounts lose money

HYCM alternatives
AvaTrade

AvaTrade is a global CFD and forex broker founded in 2006. It is regulated by several financial authorities, such as the Central Bank of Ireland.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex and cfd traders looking for an option to use metatrader platforms

Pros Cons
Easy and fast account opening Only CFDs, forex, and cryptos offered
Free deposit and withdrawal options High inactivity fees
Great research tools Average forex fees

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72% of retail CFD accounts lose money

Fees
3.4

AvaTrade has low CFD and average forex fees. Withdrawals are free of charge, but inactivity fees are quite high.
Pros Cons
No withdrawal fee High inactivity fees
Low CFD fees FX trading fees are average
HYCM vs. AvaTrade: Trading fees
AvaTrade HYCM
Apple benchmark fee $9.0 $4.7
Vodafone benchmark fee $6.0 -
EURUSD benchmark fee $10.3 $7.1

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

Visit broker More
72% of retail CFD accounts lose money

Account opening
5.0

Account opening at AvaTrade is seamless and fully digital. You can start trading literally in minutes.
Pros Cons
Fast None
Fully digital
Low minimum deposit
HYCM vs. AvaTrade: Minimum deposit, time to open an account
AvaTrade HYCM
Minimum deposit $100 $100
Time to open account 1 day 1 day

If you are interested more in AvaTrade minimum deposit, this overview will help you.

Visit broker More
72% of retail CFD accounts lose money

Deposit and withdrawal
4.5

AvaTrade offers several free options for deposit and withdrawal. On the negative side, withdrawal took us 3 business days, and debit card deposits can also be slow.
Pros Cons
Free withdrawal Slow withdrawal - over 3 days
No deposit fee
Credit/Debit cards, electronic wallets
HYCM vs. AvaTrade: Withdrawal options
AvaTrade HYCM
Bank transfer Yes Yes
Credit/debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

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72% of retail CFD accounts lose money

Web trading platform
3.8

AvaTrade's web platform is user-friendly, well-designed, and has a unique order type to protect you from losses. However, it lacks customizability, two-step login and price alerts.
Pros Cons
User-friendly No two-step (safer) login
Good search function Limited customizability (for charts, workspace)
AvaProtect order type No price alerts
Web trading platform of AvaTrade, a HYCM alternative
HYCM vs. AvaTrade: Trading platform scores
AvaTrade HYCM
Web platform score 3.8 stars 2.8 stars
Mobile platform score 4.7 stars 3.8 stars
Desktop platform score 3.4 stars 3.4 stars

Learn more about AvaTrade's web trading platform in the detailed AvaTrade review.

Visit broker
72% of retail CFD accounts lose money

Markets and products
2.0

AvaTrade offers only forex and CFDs, such as stock, index, forex and commodity CFDs. It doesn't offer other popular asset classes such as real stocks, bonds or mutual funds.
HYCM vs. AvaTrade: Markets and products
AvaTrade HYCM
Stock No No
ETF No No
Forex Yes Yes
Fund No No
Bond No No
Options No No
Futures No No
CFD Yes Yes
Crypto Yes Yes

Visit broker More
72% of retail CFD accounts lose money

Verdict

AvaTrade is regulated by several authorities globally, including the top-tier Central Bank of Ireland and the Australian Securities and Investments Commission (ASIC), therefore it is considered safe.

We liked the seamless and hassle-free account opening. You can use a lot of deposit and withdrawal options, all free of charge. We also liked that you can use many user-friendly tools for research.

AvaTrade has some drawbacks though. The product range is limited to forex, CFDs, and cryptos, and there is a high fee charged for inactivity. Lastly, there are better alternatives if forex trading fees are your main concern.

As there is only a small minimum deposit, and your account will be ready for trading quickly, feel free to try AvaTrade.

AvaTrade
Summary AvaTrade is a global forex and CFD broker. It is regulated by several financial authorities globally, including the Central Bank of Ireland and Australia's ASIC.
Fees score 3.4 stars
Recommended for Forex and CFD traders looking for an option to use MetaTrader platforms

Visit broker More
72% of retail CFD accounts lose money

HYCM alternatives
CMC Markets

Note (March 18 2021): Short selling recently popular stocks are currently restricted on CMC Markets platform.  We'll keep monitoring the issue, and will update our scores if this issue still persists.

CMC Markets is a global CFD and forex broker, founded in 1989. It is regulated by several authorities globally, including the top-tier UK Financial Conduct Authority (FCA). The company is also listed on the London Stock Exchange.

CMC Markets is considered safe because it has a long track record, is listed on stock exchange, and is overseen by top-tier regulators.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex and cfd traders looking for an advanced trading platform with many research tools

Pros Cons
Low forex fees High stock CFD fees
Great web and mobile platforms Limited product portfolio
Advanced research and educational tools Complicated account verification

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73% of retail CFD accounts lose money

Fees
3.8

CMC Markets has competitive forex and stock index CFD fees, and no fee is charged for deposits and most withdrawals. However, stock CFD fees are high.
Pros Cons
Low forex fees High stock CFD fees
No withdrawal fee
HYCM vs. CMC Markets: Trading fees
CMC Markets HYCM
Apple benchmark fee $21.5 $4.7
Vodafone benchmark fee $25.2 -
EURUSD benchmark fee $8.0 $7.1

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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73% of retail CFD accounts lose money

Account opening
4.1

The account opening process is fully digital and there's no minimum deposit, but confusion about what documents to upload for identification can prolong the verification process.
Pros Cons
Fully digital Complicated account verification
No minimum deposit
HYCM vs. CMC Markets: Minimum deposit, time to open an account
CMC Markets HYCM
Minimum deposit $0 $100
Time to open account 1-3 days 1 day

If you are interested more in CMC Markets minimum deposit, this overview will help you.

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73% of retail CFD accounts lose money

Deposit and withdrawal
4.8

You can use multiple deposit/withdrawal options and CFD account base currencies. Withdrawals are mostly free, except for same-day or international bank withdrawals.
Pros Cons
Credit/Debit card available £15 fee for international bank transfers
No deposit fee
Several account base currencies
HYCM vs. CMC Markets: Withdrawal options
CMC Markets HYCM
Bank transfer Yes Yes
Credit/debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

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73% of retail CFD accounts lose money

Web trading platform
4.5

CMC's 'Next Generation' platform has a clean and modern design, is highly customizable, and boasts an advanced order panel. On the other hand, it lacks two-step authentication.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace)
Modern design
Web trading platform of CMC Markets, a HYCM alternative
HYCM vs. CMC Markets: Trading platform scores
CMC Markets HYCM
Web platform score 4.5 stars 2.8 stars
Mobile platform score 4.5 stars 3.8 stars
Desktop platform score 3.4 stars 3.4 stars

Learn more about CMC Markets's web trading platform in the detailed CMC Markets review.

Visit broker
73% of retail CFD accounts lose money

Markets and products
2.2

CMC Markets's product selection covers only CFDs, forex and crypto. You can't trade other popular asset classes such as real stocks, bonds, mutual funds, options or futures.
HYCM vs. CMC Markets: Markets and products
CMC Markets HYCM
Stock No No
ETF No No
Forex Yes Yes
Fund No No
Bond No No
Options No No
Futures No No
CFD Yes Yes
Crypto Yes Yes

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73% of retail CFD accounts lose money

Verdict

CMC Markets is overseen by top-tier regulators and is one of the best CFD and forex brokers out there. 

On the plus side, it has low forex fees, well-developed trading platforms, and useful research and educational tools.

There are also a few drawbacks, though. Stock CFD fees are high, and the account verification process is not always seamless. Also, its product selection covers only CFD and forex asset classes, meaning no real stocks, bonds or mutual funds.

Feel free to test CMC Markets's first-class trading platform, as it has great features and requires no minimum deposit to open an account.

CMC Markets
Summary CMC Markets is a UK-based Global CFD and Forex Broker, regulated by multiple top-tier regulators like the UK FCA.
Fees score 3.8 stars
Recommended for Forex and CFD traders looking for an advanced trading platform with many research tools

Visit broker More
73% of retail CFD accounts lose money

HYCM alternatives
Bottom line

Based on our analysis, there are several good alternatives to HYCM. They all offer similar products and target similar customers. Here's a recap of the results in a table.

HYCM alternatives
Broker Info Recommended for
HYCM Global CFD and forex broker Forex and CFD traders who prefer the MetaTrader platform
ATFX Global CFD and forex broker Forex and CFD traders familiar with the MetaTrader 4 trading platform
ETX Capital Global CFD and forex broker Forex and CFD traders looking for great funding and withdrawal options and an easy-to-use platform
AvaTrade Global CFD and forex broker Forex and CFD traders looking for an option to use MetaTrader platforms
CMC Markets Global CFD and forex broker Forex and CFD traders looking for an advanced trading platform with many research tools

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.

Author of this article

Dan Sallai

Author of this article

My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.
My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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71% of retail CFD accounts lose money
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73.40% of retail CFD accounts lose money
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72% of retail CFD accounts lose money
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73% of retail CFD accounts lose money
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