HYCM Logo

HYCM Alternatives

Written by
András I.
Fact checked by
Gyula L.
Updated
Jan 2024

The best alternatives to HYCM are

  1. AvaTrade - Global CFD and forex broker
  2. XM - Global CFD and forex broker
  3. Admirals (Admiral Markets) - Global forex and CFD broker
  4. Tickmill - Global forex broker

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

HYCM alternatives comparison
XM
Overall score
4.1 stars 4.2 stars 4.3 stars 4.5 stars 4.4 stars
Fees score
3.8 stars 3.6 stars 4.2 stars 3.7 stars 4.1 stars
Account opening score
5.0 stars 5.0 stars 5.0 stars 5.0 stars 5.0 stars
Deposit and withdrawal score
4.4 stars 4.4 stars 5.0 stars 5.0 stars 4.4 stars
Web platform score
2.8 stars 3.3 stars 2.8 stars 2.8 stars 2.8 stars
Markets and products score
2.2 stars 2.3 stars 2.3 stars 3.1 stars 2.7 stars
Visit broker
70% of retail CFD accounts lose money
Visit broker
71% of retail CFD accounts lose money
Visit broker
75.33% of retail CFD accounts lose money
Visit broker
80% of retail CFD accounts lose money
Visit broker
72% 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
  • AvaTrade is recommended for forex and cfd traders looking for an option to use metatrader platforms
  • XM is recommended for forex and cfd traders who prefer metatrader platforms and seek great account opening
  • Admirals (Admiral Markets) is recommended for forex traders who are familiar with the metatrader trading platforms
  • Tickmill is recommended for forex traders looking for low fees who are familiar with the metatrader 4 platform

Important factors of finding HYCM alternatives

So far BrokerChooser has reviewed 101 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!

AvaTrade

Recommended for forex and CFD traders looking for an option to use MetaTrader platforms

Visit broker
71% of retail CFD accounts lose money

AvaTrade vs. HYCM: Trading fees
S&P 500 CFD spread
0.5 0.5
Euro Stoxx 50 CFD spread
2.0 2.3
Apple CFD fees per $2,000 trade
$1.2
$1.1
Vodafone CFD fees per $2,000 trade
$3.7
-
AvaTrade vs. HYCM: Minimum deposit, time to open an account
Minimum deposit
$100
$20
Time to open account
1 day 1 day

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

AvaTrade vs. HYCM: Withdrawal options
Bank transfer
Yes Yes
Credit/debit card
Yes Yes
Electronic wallets
Yes Yes
Withdrawal fee
$0
$0
Web trading platform of AvaTrade, a HYCM alternative
AvaTrade vs. HYCM: Trading platform scores
Web platform score
3.3 stars 2.8 stars
Mobile platform score
4.4 stars 4.3 stars
Desktop platform score
3.5 stars 3.4 stars

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

Visit broker
71% of retail CFD accounts lose money

AvaTrade vs. HYCM: Markets and products
Stocks
No No
ETFs
No No
Forex
Yes
Yes
Funds
No No
Bonds
No No
Options
No No
Futures
No No
CFDs
Yes Yes
Crypto
Yes
Yes

XM

Recommended for forex and CFD traders who prefer MetaTrader platforms and seek great account opening

Visit broker
75.33% of retail CFD accounts lose money

XM vs. HYCM: Trading fees
XM
S&P 500 CFD spread
0.5 0.5
Euro Stoxx 50 CFD spread
1.5 2.3
Apple CFD fees per $2,000 trade
$1.6
$1.1
Vodafone CFD fees per $2,000 trade
$6.9
-
XM vs. HYCM: Minimum deposit, time to open an account
XM
Minimum deposit
$5
$20
Time to open account
1 day 1 day

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

XM vs. HYCM: Withdrawal options
XM
Bank transfer
Yes Yes
Credit/debit card
Yes Yes
Electronic wallets
Yes Yes
Withdrawal fee
$0
$0
Web trading platform of XM, a HYCM alternative
XM vs. HYCM: Trading platform scores
XM
Web platform score
2.8 stars 2.8 stars
Mobile platform score
3.3 stars 4.3 stars
Desktop platform score
3.4 stars 3.4 stars

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

Visit broker
75.33% of retail CFD accounts lose money

XM vs. HYCM: Markets and products
XM
Stocks
Yes No
ETFs
No No
Forex
Yes Yes
Funds
No No
Bonds
No No
Options
No No
Futures
No No
CFDs
Yes Yes
Crypto
No Yes

Admirals (Admiral Markets)

Recommended for forex traders who are familiar with the MetaTrader trading platforms

Visit broker
80% of retail CFD accounts lose money

Admirals (Admiral Markets) vs. HYCM: Trading fees
S&P 500 CFD spread
0.4 0.5
Euro Stoxx 50 CFD spread
1.3 2.3
Apple CFD fees per $2,000 trade
$1.1
$1.1
Vodafone CFD fees per $2,000 trade
$1.8
-
Admirals (Admiral Markets) vs. HYCM: Minimum deposit, time to open an account
Minimum deposit
$100
$20
Time to open account
1 day 1 day

If you are interested more in Admirals (Admiral Markets) minimum deposit, this overview will help you.

Admirals (Admiral Markets) vs. HYCM: Withdrawal options
Bank transfer
Yes Yes
Credit/debit card
Yes Yes
Electronic wallets
Yes Yes
Withdrawal fee
$0
$0
Web trading platform of Admirals (Admiral Markets), a HYCM alternative
Admirals (Admiral Markets) vs. HYCM: Trading platform scores
Web platform score
2.8 stars 2.8 stars
Mobile platform score
4.3 stars 4.3 stars
Desktop platform score
3.4 stars 3.4 stars

Learn more about Admirals (Admiral Markets)'s web trading platform in the detailed Admirals (Admiral Markets) review.

Visit broker
80% of retail CFD accounts lose money

Admirals (Admiral Markets) vs. HYCM: Markets and products
Stocks
Yes No
ETFs
Yes No
Forex
Yes Yes
Funds
No No
Bonds
No No
Options
No No
Futures
No No
CFDs
Yes Yes
Crypto
Yes
Yes

Tickmill

Recommended for forex traders looking for low fees who are familiar with the MetaTrader 4 platform

Visit broker
72% of retail CFD accounts lose money

Tickmill vs. HYCM: Trading fees
FX commission per lot
$2.00 commission per lot per trade No commission is charged
EURUSD spread
0.2 1.4
GBPUSD spread
0.3 2.2
AUDUSD spread
0.2 2.2
USDJPY spread
0.2 1.2
USDCAD spread
0.3 1.2
Tickmill vs. HYCM: Minimum deposit, time to open an account
Minimum deposit
$100
$20
Time to open account
1 day 1 day

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

Tickmill vs. HYCM: Withdrawal options
Bank transfer
Yes Yes
Credit/debit card
Yes Yes
Electronic wallets
Yes Yes
Withdrawal fee
$0
$0
Web trading platform of Tickmill, a HYCM alternative
Tickmill vs. HYCM: Trading platform scores
Web platform score
2.8 stars 2.8 stars
Mobile platform score
3.3 stars 4.3 stars
Desktop platform score
3.4 stars 3.4 stars

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

Visit broker
72% of retail CFD accounts lose money

Tickmill vs. HYCM: Markets and products
Stocks
No No
ETFs
No No
Forex
Yes Yes
Funds
No No
Bonds
No No
Options
Yes No
Futures
Yes No
CFDs
Yes Yes
Crypto
Yes
Yes

HYCM

Recommended for forex and CFD traders who prefer the MetaTrader platform

HYCM alternatives trading fees
XM
S&P 500 CFD spread
0.5 0.5 0.5 0.4 0.4
Euro Stoxx 50 CFD spread
2.3 2.0 1.5 1.3 1.5
Apple CFD fees per $2,000 trade
$1.1
$1.2
$1.6
$1.1
-
HYCM alternatives minimum deposit and account open times
XM
Minimum deposit
$20
$100
$5
$100
$100
Time to open account
1 day 1 day 1 day 1 day 1 day

Learn more about HYCM minimum deposit here.

HYCM and alternatives withdrawal options and fees
XM
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
HYCM - Web trading platform
HYCM and alternatives trading platform scores
XM
Web platform score
2.8 stars 3.3 stars 2.8 stars 2.8 stars 2.8 stars
Mobile platform score
4.3 stars 4.4 stars 3.3 stars 4.3 stars 3.3 stars
Desktop platform score
3.4 stars 3.5 stars 3.4 stars 3.4 stars 3.4 stars

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

HYCM and alternatives markets and products
XM
Stocks
No No Yes Yes No
ETFs
No No No Yes No
Forex
Yes Yes
Yes Yes Yes
Funds
No No No No No
Bonds
No No No No No
Options
No No No No Yes
Futures
No No No No Yes
CFDs
Yes Yes Yes Yes Yes
Crypto
Yes
Yes
No Yes
Yes

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 intro
Recommended for
Global CFD and forex broker Forex and CFD traders who prefer the MetaTrader platform
Global CFD and forex broker Forex and CFD traders looking for an option to use MetaTrader platforms
XM
Global CFD and forex broker Forex and CFD traders who prefer MetaTrader platforms and seek great account opening
Global forex and CFD broker Forex traders who are familiar with the MetaTrader trading platforms
Global forex broker Forex traders looking for low fees who are familiar with the MetaTrader 4 platform

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

Check out this short video for a behind-the-scenes peek into how our experts personally test and evaluate brokers.

Got questions?
Engage with our growing community of traders and investors like you to find your answers.
Join now

Author of this article

András Iván
András Iván

András is a former broker analyst for BrokerChooser. He has years of experience in investing and trading equities, options and bonds. He believes that active trading and a more passive investing approach both have merits and everyone can find a strategy that fits their needs. He's eager to help identify the characteristics of specific brokers, so each client can find the best match.

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.

Visit HYCM 70% of retail CFD accounts lose money
Visit AvaTrade 71% of retail CFD accounts lose money
Visit XM 75.33% of retail CFD accounts lose money
Visit Admirals (Admiral Markets) 80% of retail CFD accounts lose money
Visit Tickmill 72% of retail CFD accounts lose money

Follow us

Regional settings

×
I'd like to trade with...