The best alternatives to HYCM are
- XM - Global CFD and forex broker
- AvaTrade - Global CFD and forex broker
- Tickmill - Global forex broker
- 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 | 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 |
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 | 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
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 | 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.
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 | 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 |
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 | 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.
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 | 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 |
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 |
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 |
Fees
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 |
| 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
Account opening
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 |
| 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 | 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.
Markets and products
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.
| 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 |
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 |
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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 |
Fees
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 |
| 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
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 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 |
| AvaTrade | HYCM | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
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 |
| 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.
Markets and products
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.
| 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 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 |
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 |
Fees
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 |
| 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.
Account opening
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 |
| 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
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 |
| 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. 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 |
| 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.
Markets and products
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.
| 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 |
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 |
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 |
Fees
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 |
| 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
Account opening
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 |
| 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.
Deposit and withdrawal
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 |
| XTB | HYCM | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | Yes |
| Electronic wallets | No | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
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 |
| 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.
Markets and products
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.
| 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 |
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 |
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 |
| 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 |
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