The best alternatives to HYCM are
- ATFX - Global CFD and forex broker
- ETX Capital - Global CFD and forex broker
- AvaTrade - Global CFD and forex broker
- 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 | 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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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 |
Fees
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 | 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
Account opening
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 | 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.
Deposit and withdrawal
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 | 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 |
Web trading platform
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 | 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.
Markets and products
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 | 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 |
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 |
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 |
Fees
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 |
| 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
Account opening
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 |
| 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.
Deposit and withdrawal
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 |
| ATFX | HYCM | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
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 |
| 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.
Markets and products
ATFX provides only forex, CFDs and cryptos. It lacks other popular asset classes such as real stocks, mutual funds or bonds.
| 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 |
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 |
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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 |
Fees
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 |
| 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
Account opening
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 |
| 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.
Deposit and withdrawal
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 |
| ETX Capital | HYCM | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
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) |
| 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.
Markets and products
At ETX Capital, you can trade only with CFDs, forex, and cryptos. It lacks real stocks, ETFs, mutual funds, bonds, options, and futures.
| 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 |
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 |
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 |
Fees
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 |
| 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
Account opening
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 |
| 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.
Deposit and withdrawal
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 |
| AvaTrade | HYCM | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
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 |
| 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.
Markets and products
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.
| 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 |
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 |
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 |
Fees
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 |
| 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
Account opening
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 |
| 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.
Deposit and withdrawal
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 |
| CMC Markets | HYCM | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
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 |
| 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.
Markets and products
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.
| 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 |
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 |
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.
| 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 |
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