HYCM Logo
Our top alternative brokers to HYCM
XM
4.3
Open account
75.55% of retail CFD accounts lose money
AvaTrade
4.4
Open account
79% of retail CFD accounts lose money
Our top alternative brokers to HYCM
XM
4.3
Open account
75.55% of retail CFD accounts lose money
AvaTrade
4.4
Open account
79% of retail CFD accounts lose money
HYCM Alternatives

The best alternatives to HYCM are

  1. XM - Global CFD and forex broker
  2. AvaTrade - Global CFD and forex broker
  3. Tickmill - Global forex broker
  4. XTB - 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 XM AvaTrade Tickmill XTB
Overall score 4.3 4.3 4.4 4.6 4.7
Fees score 4.2 stars 3.8 stars 3.4 stars 4.8 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 4.5 stars 5.0 stars 4.5 stars 4.5 stars 4.5 stars
Web platform score 2.8 stars 2.8 stars 3.6 stars 2.8 stars 4.4 stars
Markets and products score 2.0 stars 2.5 stars 2.0 stars 1.4 stars 2.8 stars
Open account
72% of retail CFD accounts lose money
Open account
75.55% of retail CFD accounts lose money
Open account
79% of retail CFD accounts lose money
Open account
73% of retail CFD accounts lose money
Open account
79% 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
  • XM is recommended for forex and cfd traders who prefer metatrader platforms and seek low trading fees
  • AvaTrade is recommended for forex and cfd traders looking for an option to use metatrader platforms
  • Tickmill is recommended for forex traders looking for low fees and prefer metatrader 4 platform
  • XTB is recommended for forex and cfd traders looking for low fees and great deposit/withdrawal service

Important factors of finding HYCM alternatives

So far BrokerChooser has reviewed 71 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. 72% 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

Open account
72% of retail CFD accounts lose money

Fees
4.2

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 XM AvaTrade Tickmill XTB
S&P 500 index CFD fee $1.2 $2.4 $0.9 $1.4 $1.9
Europe 50 index CFD fee $0.7 $2.4 $0.6 $1.5 $1.9
EURUSD benchmark fee $11.7 $17.1 $19.2 $9.2 $14.8
GBPUSD benchmark fee $13.5 $14.0 $15.7 $8.0 $10.8

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

Open account More
72% 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 XM AvaTrade Tickmill XTB
Minimum deposit $100 $5 $100 $100 $0
Time to open account 1 day 1 day 1 day 1 day 1 day

Learn more about HYCM minimum deposit here.

Open account More
72% 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 XM AvaTrade Tickmill XTB
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card Yes Yes Yes Yes No
Electronic wallets Yes Yes Yes Yes No
Withdrawal fee $0 $0 $0 $0 $0

Open account More
72% 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 XM AvaTrade Tickmill XTB
Web platform score 2.8 stars 2.8 stars 3.6 stars 2.8 stars 4.4 stars
Mobile platform score 3.8 stars 3.8 stars 4.7 stars 3.8 stars 4.4 stars
Desktop platform score 3.3 stars 3.3 stars 3.3 stars 3.3 stars 4.4 stars

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

Open account
72% 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 XM AvaTrade Tickmill XTB
Stock No Yes No No Yes
ETF No No No No Yes
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 No Yes No Yes

Open account More
72% 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 4.2 stars
Recommended for Forex and CFD traders who prefer the MetaTrader platform

Open account More
72% of retail CFD accounts lose money

HYCM alternatives
XM

XM is an online broker whose parent company is Trading Point Holding, a global CFD and FX broker founded in 2009. Trading Point Holding has two brands, XM and Trading.com.

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 International Financial Services Commission of Belize (IFSC).

Trading.com is available only for most EEA residents and is regulated by the UK's Financial Conduct Authority (FCA).

In this review, we will focus on the XM brand.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.55% 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 low trading fees

Pros Cons
Low CFD and withdrawal fees Limited product portfolio
Easy and fast account opening Average forex fees
Great educational tools No investor protection for non-EU clients

Open account
75.55% of retail CFD accounts lose money

Fees
3.8

XM has low trading fees for CFDs and charges no withdrawal fee. On the other hand, forex fees are only average, and there is a fee for inactivity.
Pros Cons
No withdrawal fee Inactivity fee
Low CFD fees Average FX fees
HYCM vs. XM: Trading fees
XM HYCM
Apple benchmark fee $4.9 $3.8
Vodafone benchmark fee $1.4 -
EURUSD benchmark fee $17.1 $11.7

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

Open account More
75.55% of retail CFD accounts lose money

Account opening
5.0

XM account opening is hassle-free and straightforward. You may be able to trade on your account already on the same day.
Pros Cons
Fast None
Fully digital
Low minimum deposit
HYCM vs. XM: Minimum deposit, time to open an account
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.

Open account More
75.55% of retail CFD accounts lose money

Deposit and withdrawal
5.0

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
HYCM vs. XM: Withdrawal options
XM HYCM
Bank Transfer Yes Yes
Credit/Debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

Open account More
75.55% of retail CFD accounts lose money

Web trading platform
2.8

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
Web trading platform of XM, a HYCM alternative
HYCM vs. XM: Trading platform scores
XM HYCM
Web platform score 2.8 stars 2.8 stars
Mobile platform score 3.8 stars 3.8 stars
Desktop platform score 3.3 stars 3.3 stars

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

Open account
75.55% of retail CFD accounts lose money

Markets and products
2.5

XM provides CFDs and forex for all clients, while real stocks are available only for clients opening their accounts under the IFSC-regulated entity. Popular asset classes, like real ETFs, bonds or options are missing.
HYCM vs. XM: Markets and products
XM HYCM
Stock Yes No
ETF No No
Forex Yes Yes
Fund No No
Bond No No
Options No No
Futures No No
CFD Yes Yes
Crypto No Yes

Open account More
75.55% of retail CFD accounts lose money

Verdict

XM is regulated by several authorities globally, including the top-tier ASIC.

On the plus side, we liked the low CFD and withdrawal fees. The account opening process is seamless and hassle-free. There is a wide range of educational tools of great quality.

XM has some drawbacks though. Its product range is limited to FX and CFDs. Its forex 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 3.8 stars
Recommended for Forex and CFD traders who prefer MetaTrader platforms and seek low trading fees

Open account More
75.55% of retail CFD accounts lose money

HYCM alternatives
AvaTrade

AvaTrade is a global CFD and FX 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. 79% 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

Open account
79% of retail CFD accounts lose money

Fees
3.4

AvaTrade has average trading fees. Withdrawals are free of charge but inactivity fees are rather high.
Pros Cons
Low trading fees High inactivity fees
No withdrawal fee FX trading fees are average
HYCM vs. AvaTrade: Trading fees
AvaTrade HYCM
Apple benchmark fee $6.0 $3.8
Vodafone benchmark fee $5.1 -
EURUSD benchmark fee $19.2 $11.7

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

Open account More
79% 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.

Open account More
79% of retail CFD accounts lose money

Deposit and withdrawal
4.5

AvaTrade offers several free methods for deposit and withdrawals. On the flip side, the withdrawal took us more than 3 business days.
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

Open account More
79% of retail CFD accounts lose money

Web trading platform
3.6

AvaTrade's WebTrader platform is user-friendly and well-designed. The search functions and the portfolio/fee reports are great. On the negative side, it lacks customizability, two-step login, and price alerts.
Pros Cons
User-friendly No two-step (safer) login
Clear fee report Limited customizability (for charts, workspace)
Good search function No price alerts
Web trading platform of AvaTrade, a HYCM alternative
HYCM vs. AvaTrade: Trading platform scores
AvaTrade HYCM
Web platform score 3.6 stars 2.8 stars
Mobile platform score 4.7 stars 3.8 stars
Desktop platform score 3.3 stars 3.3 stars

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

Open account
79% of retail CFD accounts lose money

Markets and products
2.0

AvaTrade gives access only to CFDs, such as forex, stock, index and commodity CFDs. It doesn't offer 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

Open account More
79% 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 and they are 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 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

Open account More
79% of retail CFD accounts lose money

HYCM alternatives
Tickmill

Tickmill is a global forex and CFD broker, established in 2014. The company is regulated by different financial authorities globally, including the top-tier Financial Conduct Authority (FCA) from the United Kingdom.

Tickmill is considered safe because 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. 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 traders looking for low fees and prefer metatrader 4 platform

Pros Cons
Low fees Only forex and CFDs
Great account opening Trading platforms with outdated design
Free deposit and withdrawal Basic news feeds

Open account
73% of retail CFD accounts lose money

Fees
4.8

Tickmill has great fees. Both the forex and CFD trading fees are low. There is no fee charged for deposit, withdrawal, or inactivity.
Pros Cons
Low forex fees None
No withdrawal fee
No inactivity fee
HYCM vs. Tickmill: Trading fees
Tickmill HYCM
EURUSD benchmark fee $9.2 $11.7
EURGBP benchmark fee $8.6 $13.1

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

Open account More
73% of retail CFD accounts lose money

Account opening
5.0

Tickmill has a fast and easy account opening. Our account was verified within one business day. The minimum deposit is low, $100 for all account types, except VIP.
Pros Cons
Fast None
Fully digital
Low minimum deposit
HYCM vs. Tickmill: Minimum deposit, time to open an account
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.

Open account More
73% of retail CFD accounts lose money

Deposit and withdrawal
4.5

Tickmill's deposit and withdrawal are fast and free of charge. There is a wide range of options you can use: bank transfer, credit/debit cards, or electronic wallets. On the other hand, the number of available account base currencies is low.
Pros Cons
Free withdrawal Few account base currencies
No deposit fee
Several account base currencies
HYCM vs. Tickmill: Withdrawal options
Tickmill HYCM
Bank Transfer Yes Yes
Credit/Debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

Open account More
73% of retail CFD accounts lose money

Web trading platform
2.8

Tickmill'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
Web trading platform of Tickmill, a HYCM alternative
HYCM vs. Tickmill: Trading platform scores
Tickmill HYCM
Web platform score 2.8 stars 2.8 stars
Mobile platform score 3.8 stars 3.8 stars
Desktop platform score 3.3 stars 3.3 stars

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

Open account
73% of retail CFD accounts lose money

Markets and products
1.4

At Tickmill, you can trade only CFDs on forex, stock indices, commodities, and German government bonds. Popular asset classes, such as stocks, ETFs, mutual funds, bonds and options are missing.
HYCM vs. Tickmill: Markets and products
Tickmill 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 No Yes

Open account More
73% of retail CFD accounts lose money

Verdict

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

On the plus side, we liked the low forex and CFD fees. The account opening is seamless and there are a lot of free deposit/withdrawal options.

Tickmill has some drawbacks though. Its product range is limited to forex, CFDs on some stock indexes and commodities. Trading platforms have outdated design and the news feeds are basic.

We recommend Tickmill for those who are interested in CFD and forex trading and prefer 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 different financial authorities, including the top-tier FCA.
Fees score 4.8 stars
Recommended for Forex traders looking for low fees and prefer MetaTrader 4 platform

Open account More
73% of retail CFD accounts lose money

HYCM alternatives
XTB

XTB is a global CFD and forex broker with headquarters in London and Warsaw, founded in 2002. The company is regulated by several financial authorities worldwide, including the top-tier UK Financial Conduct Authority (FCA). In addition, XTB is listed on the Warsaw Stock Exchange, and as such is required to disclose its financials.

XTB is considered safe because it has a long track record, is listed on a stock exchange, and publishes its financial statements transparently.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% 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 low fees and great deposit/withdrawal service

Pros Cons
Low forex and stock index CFD fees High fees for stock CFDs
Free and fast deposit and withdrawal Product portfolio limited mostly to CFDs and FX
Easy and fast account opening Limited fundamental data

Open account
79% of retail CFD accounts lose money

Fees
4.1

XTB has low forex and stock index CFD fees. There is also no withdrawal fee for most transfers. On the other hand, stock CFD fees are high, and XTB also charges an inactivity fee.
Pros Cons
Low forex fees High stock CFD fees
Low stock index CFD fees Inactivity fee
No withdrawal fee for transfers above $100
HYCM vs. XTB: Trading fees
XTB HYCM
Apple benchmark fee $17.9 $3.8
Vodafone benchmark fee $19.3 -
EURUSD benchmark fee $14.8 $11.7

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

Open account More
79% of retail CFD accounts lose money

Account opening
5.0

XTB's account opening process is hassle-free, straightforward and fully digital. Your account will be ready for trading on the same day.
Pros Cons
Fast None
Fully digital
No minimum deposit
HYCM vs. XTB: Minimum deposit, time to open an account
XTB HYCM
Minimum deposit $0 $100
Time to open account 1 day 1 day

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

Open account More
79% of retail CFD accounts lose money

Deposit and withdrawal
4.5

XTB deposits and withdrawals are fast, mostly free, and can be done via several channels.
Pros Cons
Credit/Debit card available Few minor account currencies accepted
Free withdrawal
No deposit fee
HYCM vs. XTB: Withdrawal options
XTB HYCM
Bank Transfer Yes Yes
Credit/Debit card No Yes
Electronic wallets No Yes
Withdrawal fee $0 $0

Open account More
79% of retail CFD accounts lose money

Web trading platform
4.4

XTB's xStation 5 platform is user-friendly, can be customized and has a good search function. On the other hand, two-step login is not available.
Pros Cons
User-friendly No two-step (safer) login
Clear fee report
Good search function
Web trading platform of XTB, a HYCM alternative
HYCM vs. XTB: Trading platform scores
XTB HYCM
Web platform score 4.4 stars 2.8 stars
Mobile platform score 4.4 stars 3.8 stars
Desktop platform score 4.4 stars 3.3 stars

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

Open account
79% of retail CFD accounts lose money

Markets and products
2.8

XTB's default product selection includes only CFDs, forex and crypto. Some European clients can also trade real stocks and ETFs. Popular asset classes like bonds, mutual funds, options and futures are not available.
HYCM vs. XTB: Markets and products
XTB HYCM
Stock Yes No
ETF Yes No
Forex Yes Yes
Fund No No
Bond No No
Options No No
Futures No No
CFD Yes Yes
Crypto Yes Yes

Open account More
79% of retail CFD accounts lose money

Verdict

XTB is a great CFD and forex broker. It is regulated by several financial authorities globally, including the UK's FCA. The company is listed on the Warsaw Stock Exchange.

On the plus side, its forex and stock index CFD fees are low, and the deposit and withdrawal process is fast and mostly free. We also liked the seamless and hassle-free account opening process.

XTB has some drawbacks, though. Stock CFD fees are high. The product range is mainly limited to FX and CFDs, although real stock and ETF trading is available in some European countries. Fundamental data offered by XTB covers only a few basics such as P/E.

We recommend XTB for clients who prefer forex or CFD trading, and also want to enjoy great deposit and withdrawal options along with fast account opening. Feel free to test it using a demo account.

XTB
Summary XTB is a global CFD and forex broker, listed on the Warsaw Stock Exchange and regulated by financial authorities including the UK FCA, Poland's KNF, and Cyprus's CySec.
Fees score 4.1 stars
Recommended for Forex and CFD traders looking for low fees and great deposit/withdrawal service

Open account More
79% 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
XM Global CFD and forex broker Forex and CFD traders who prefer MetaTrader platforms and seek low trading fees
AvaTrade Global CFD and forex broker Forex and CFD traders looking for an option to use MetaTrader platforms
Tickmill Global forex broker Forex traders looking for low fees and prefer MetaTrader 4 platform
XTB Global CFD and forex broker Forex and CFD traders looking for low fees and great deposit/withdrawal service

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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Open account
72% of retail CFD accounts lose money
Open account
75.55% of retail CFD accounts lose money
Open account
79% of retail CFD accounts lose money
Open account
73% of retail CFD accounts lose money
Open account
79% of retail CFD accounts lose money
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