The best alternatives to HYCM are
- AvaTrade - Global CFD and forex broker
- XM - Global CFD and forex broker
- Admirals (Admiral Markets) - Global forex and CFD broker
- Tickmill - Global forex broker
Let's see in a bit more detail how the HYCM alternatives compare to HYCM and each other:
| HYCM | AvaTrade | XM | Admirals (Admiral Markets) | Tickmill | |
|---|---|---|---|---|---|
| Overall score | 4.2 stars | 4.3 stars | 4.2 stars | 4.7 stars | 4.6 stars |
| Fees score | 3.9 stars | 3.7 stars | 3.7 stars | 3.9 stars | 4.3 stars |
| Account opening score | 5.0 stars | 5.0 stars | 5.0 stars | 5.0 stars | 5.0 stars |
| Deposit and withdrawal score | 4.5 stars | 4.5 stars | 5.0 stars | 5.0 stars | 4.5 stars |
| Web platform score | 2.8 stars | 3.8 stars | 2.8 stars | 2.8 stars | 2.8 stars |
| Markets and products score | 2.1 stars | 2.3 stars | 2.5 stars | 3.9 stars | 2.4 stars |
|
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71% of retail CFD accounts lose money |
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74.89% of retail CFD accounts lose money |
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81% of retail CFD accounts lose money |
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76% 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 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 102 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
AvaTrade
AvaTrade is a global CFD and forex broker founded in 2006. It is regulated by several top-tier financial authorities, including 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 fees and average forex fees. Deposits and withdrawals are free, 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 | $6.6 | $4.2 |
| Vodafone benchmark fee | $8.3 | - |
| EURUSD benchmark fee | $16.4 | $14.3 |
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 smooth 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.
| 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 loss insurance | • No price alerts |
| AvaTrade | HYCM | |
|---|---|---|
| Web platform score | 3.8 stars | 2.8 stars |
| Mobile platform score | 4.7 stars | 4.3 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.
| AvaTrade | HYCM | |
|---|---|---|
| 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 |
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 | 3.7 stars |
| Recommended for | Forex and CFD traders looking for an option to use MetaTrader platforms |
HYCM alternatives
XM
XM is an online broker whose parent company is Trading Point Holding, a global CFD and FX broker founded in 2009.
XM is available globally and is regulated by three financial authorities: the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC) and the Financial Services Commission of Belize (FSC).
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.89% 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 metatrader platforms and seek great account opening
| Pros | Cons |
|---|---|
| • Low stock CFD and withdrawal fees | • Limited product portfolio |
| • Easy and fast account opening | • Average forex and stock index CFD fees |
| • Great educational tools | • No investor protection for non-EU clients |
Fees
XM has low trading fees for CFDs and charges no withdrawal fee. On the other hand, forex and stock index fees are only average, and there is a fee for inactivity.
| Pros | Cons |
|---|---|
| • No withdrawal fee | • Inactivity fee |
| • Low stock CFD fees | • Average FX fees |
| XM | HYCM | |
|---|---|---|
| Apple benchmark fee | $6.7 | $4.2 |
| Vodafone benchmark fee | $2.3 | - |
| EURUSD benchmark fee | $17.5 | $14.3 |
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
XM account opening is hassle-free and straightforward. You may be able to start using your account already on the same day.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • Low minimum deposit |
| XM | HYCM | |
|---|---|---|
| Minimum deposit | $5 | $100 |
| Time to open account | 1 day | 1 day |
If you are interested more in XM minimum deposit, this overview will help you.
Deposit and withdrawal
XM's deposit and withdrawal processes are fast and inexpensive, and offer you several options.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | None |
| • Several account base currencies | |
| • Free wire withdrawal above $200 |
| XM | HYCM | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
XM's web trading platform is provided by MetaTrader. It is highly customizable and has a clear fee report. On the other hand, the platform lacks 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 |
| XM | HYCM | |
|---|---|---|
| Web platform score | 2.8 stars | 2.8 stars |
| Mobile platform score | 3.8 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.
Markets and products
CFDs and forex are available for all clients, but real stocks only for clients under the IFSC-regulated entity. Popular asset classes, like real ETFs, bonds or options are missing.
| XM | HYCM | |
|---|---|---|
| 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 |
Verdict
XM is regulated by several authorities globally, including the top-tier ASIC.
On the plus side, we liked the low stock CFD and withdrawal fees. The account opening process is seamless and hassle-free, and the broker offers a wide range of educational tools of great quality.
XM has some drawbacks though. Its product range is limited to forex and CFDs. Its forex and stock index CFD fees are average, and non-EU customers are not covered by any investor protection.
We recommend XM for those who are interested in CFD and forex trading and prefer MetaTrader trading platforms. Feel free to test it via the demo account.
| XM | |
|---|---|
| Summary | XM is a global forex and CFD broker regulated by Australia's ASIC, CySEC of Cyprus, and Belizean authority IFSC. |
| Fees score | 3.7 stars |
| Recommended for | Forex and CFD traders who prefer MetaTrader platforms and seek great account opening |
HYCM alternatives
Admirals (Admiral Markets)
Admirals (Admiral Markets) is a Global forex and CFD broker founded in 2001. It is overseen by multiple regulators in the various regions it serves. These regulators are the UK's Financial Conduct Authority (FCA), the Estonian Financial Supervision Authority (EFSA), the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investment Commission (ASIC) and the Jordan Securities Commission (JSC). Of these, the FCA and the ASIC are top-tier financial authorities.
Admirals is considered safe because it has a long track record, discloses its financials, and its parent company, the Admirals Group is listed on a stock exchange.
Admirals was formerly called Admiral Markets, but it is currently going trough a rebranding process. This should be of no concern to clients, as this doesn't affect the broker's services in any negative way.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% 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 traders who are familiar with metatrader trading platforms
| Pros | Cons |
|---|---|
| • Low forex CFD fees | • Product portfolio limited mostly to CFDs |
| • Free and fast deposit and withdrawal | • Inactivity fee |
| • Straightforward account opening | • No 24/7 customer service |
Fees
Admirals (Admiral Markets) has low trading fees, especially when it comes to forex. On the negative side, it charges an inactivity fee.
| Pros | Cons |
|---|---|
| • Low trading fees | • Inactivity fee |
| • No withdrawal fee |
| Admirals (Admiral Markets) | HYCM | |
|---|---|---|
| Apple benchmark fee | $4.6 | $4.2 |
| Vodafone benchmark fee | $12.1 | - |
| EURUSD benchmark fee | $15.1 | $14.3 |
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 and verification process is fast and fully digital. The minimum deposit is $100, which is definitely not excessive.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • Low minimum deposit |
| Admirals (Admiral Markets) | HYCM | |
|---|---|---|
| Minimum deposit | $100 | $100 |
| Time to open account | 1 day | 1 day |
If you are interested more in Admirals (Admiral Markets) minimum deposit, this overview will help you.
Deposit and withdrawal
Admirals charges no deposit or withdrawal fees. You can use cards, bank transfer or e-wallets for deposit and withdrawal, but some e-wallet options aren't available for all clients.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • E-wallet options aren't available for all customers |
| • Free withdrawal | |
| • No deposit fee |
| Admirals (Admiral Markets) | HYCM | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
Admirals uses the MetaTrader web trading platform. It is highly customizable and has a clear fee report, but its design is outdated and it lacks a two-step login and price alerts.
| Pros | Cons |
|---|---|
| • Clear fee report | • No two-step (safer) login |
| • Good customizability (for charts, workspace) | • No price alerts |
| • Order confirmation |
| Admirals (Admiral Markets) | HYCM | |
|---|---|---|
| Web platform score | 2.8 stars | 2.8 stars |
| Mobile platform score | 3.8 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.
Markets and products
For most users, Admirals (Admiral Markets) mainly provides forex, CFD and cryptos. For those using the Invest.MT5 account type, it offers real stocks and ETFs as well.
| Admirals (Admiral Markets) | HYCM | |
|---|---|---|
| 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 |
Verdict
Admirals (Admiral Markets) is a great CFD broker. It is regulated by several financial authorities globally, including the UK's FCA and Australia's ASIC.
On the plus side, Admirals' CFD trading fees are low, while forex fees aren't high either. We also liked that the deposit and withdrawal process is fast and mostly free. The account opening process is seamless, hassle-free and quick.
Admirals has some drawbacks, though. The product range is mainly limited to CFDs, although real stock and ETF trading is available for one specific account type.
We recommend Admirals for clients interested in forex or CFD trading who want to enjoy great deposit and withdrawal options along with fast account opening. Feel free to test it using a demo account.
| Admirals (Admiral Markets) | |
|---|---|
| Summary | Admirals is a global forex and CFD broker, which is regulated by several authorities, including the top-tier FCA and ASIC. |
| Fees score | 3.9 stars |
| Recommended for | Forex traders who are familiar with MetaTrader trading platforms |
HYCM alternatives
Tickmill
Tickmill is a global forex and CFD broker, established in 2014. The company is regulated by several financial authorities globally, including the top-tier Financial Conduct Authority (FCA) in the UK; and as such is considered a safe broker.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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 traders looking for low fees who are familiar with the metatrader 4 platform
| Pros | Cons |
|---|---|
| • Low forex fees | • Outdated platform design and functions |
| • Fast and easy account opening | • Basic news feed |
| • Free deposit and withdrawal |
Fees
Tickmill has low forex fees and average CFD fees. There is no fee for deposit, withdrawal or inactivity.
| Pros | Cons |
|---|---|
| • Low forex fees | None |
| • No withdrawal fee | |
| • No inactivity fee |
| Tickmill | HYCM | |
|---|---|---|
| EURUSD benchmark fee | $12.5 | $14.3 |
| EURGBP benchmark fee | $9.0 | $15.5 |
Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.
Account opening
Tickmill has a fast and easy account opening process with quick verification. The minimum deposit is low at just $100.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • Low minimum deposit |
| Tickmill | HYCM | |
|---|---|---|
| Minimum deposit | $100 | $100 |
| Time to open account | 1 day | 1 day |
If you are interested more in Tickmill minimum deposit, this overview will help you.
Deposit and withdrawal
Deposit and withdrawal are fast and free of charge, and can be done via bank transfer, credit/debit cards and e-wallets; though only a few account base currencies are available.
| Pros | Cons |
|---|---|
| • Free withdrawal | • Few account base currencies |
| • No deposit fee |
| Tickmill | HYCM | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
Tickmill's web trading platform is provided by MetaTrader. It is highly customizable and has a clear fee report. However, the platform lacks 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 |
| Tickmill | HYCM | |
|---|---|---|
| Web platform score | 2.8 stars | 2.8 stars |
| Mobile platform score | 3.8 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.
Markets and products
You can trade CFDs on forex, stocks, stock indices, commodities and German government bonds. You can also trade options and futures, but popular asset clases such as ETFs, bonds or funds are missing.
| Tickmill | HYCM | |
|---|---|---|
| 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 |
Verdict
Tickmill is a low-cost forex and CFD broker, regulated by several authorities globally including the top-tier UK FCA.
On the plus side, we liked Tickmill's low forex fees. Account opening is seamless and there are many free deposit/withdrawal options.
Tickmill has some drawbacks though. The trading platforms have an outdated design, and the quality of some research tools is uneven.
We recommend Tickmill for those who are interested in CFD and forex trading and are familiar with the MetaTrader trading platforms. Feel free to test it via the demo account.
| Tickmill | |
|---|---|
| Summary | Tickmill is a low-cost forex and CFD broker. It is regulated by several financial authorities, including the top-tier FCA. |
| Fees score | 4.3 stars |
| Recommended for | Forex traders looking for low fees who are familiar with the MetaTrader 4 platform |
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. 59% 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.
Note: This review has not been updated for more than a year, therefore some of the information contained may be outdated.
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 | AvaTrade | XM | Admirals (Admiral Markets) | Tickmill | |
|---|---|---|---|---|---|
| S&P 500 index CFD fee | $1.7 | $2.6 | $2.5 | $2.3 | $2.6 |
| Europe 50 index CFD fee | $0.8 | $2.0 | $3.1 | $1.6 | $2.2 |
| EURUSD benchmark fee | $14.3 | $16.4 | $17.5 | $15.1 | $12.5 |
| GBPUSD benchmark fee | $11.6 | $11.3 | $12.2 | $7.8 | $7.0 |
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 | AvaTrade | XM | Admirals (Admiral Markets) | Tickmill | |
|---|---|---|---|---|---|
| Minimum deposit | $100 | $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.
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 | AvaTrade | XM | Admirals (Admiral Markets) | Tickmill | |
|---|---|---|---|---|---|
| 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 | AvaTrade | XM | Admirals (Admiral Markets) | Tickmill | |
|---|---|---|---|---|---|
| Web platform score | 2.8 stars | 3.8 stars | 2.8 stars | 2.8 stars | 2.8 stars |
| Mobile platform score | 4.3 stars | 4.7 stars | 3.8 stars | 3.8 stars | 3.8 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 | AvaTrade | XM | Admirals (Admiral Markets) | Tickmill | |
|---|---|---|---|---|---|
| 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 |
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 | 3.9 stars |
| Recommended for | Forex and CFD traders who prefer the MetaTrader platform |
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 |
| AvaTrade | 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 |
| Admirals (Admiral Markets) | Global forex and CFD broker | Forex traders who are familiar with MetaTrader trading platforms |
| Tickmill | Global forex broker | Forex traders looking for low fees who are familiar with the MetaTrader 4 platform |
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