Compare Ally Invest vs HYCM


Online brokers compared for fees, trading platforms, safety and more. See how Ally Invest stacks up against HYCM!

Ally Invest vs HYCM
overall rating
4.7
4.3
overall pros
  • Low trading and non-trading fees
  • Easy and fully digital account opening
  • Great education
  • Low forex and CFD fees
  • Great educational content
  • User-friendly account opening
overall cons
  • You can trade only on US markets
  • Forex trading is available through a separate account
  • Lack of proper 2-step authentication
  • Only forex and CFD products
  • Trading platforms have outdated design
  • Inactivity fee
fees
4.5
  • Low trading fees
  • Low non-trading fees
  • Zero commission on most stocks and ETFs
  • Margin rates could be lower
3.9
  • Low forex fees
  • Low CFD fees
  • Inactivity fee
account opening
4.4
  • Fully digital
  • Low minimum deposit
  • Slow account verification
5.0
  • Fast
  • Fully digital
  • Low minimum deposit
deposit and withdrawal
2.6
  • No deposit fee
  • User-friendly
  • Free ACH withdrawal
  • Credit/Debit card not available
  • High outgoing wire transfer fee
4.5
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
  • Average account currency selection
web trading platform
3.5
  • User-friendly
  • Good search function
  • Good customizability (for charts, workspace)
  • No clear fee report available
  • No two-step (safer) login
2.8
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Order confirmation
  • No two-step (safer) login
  • No price alerts
  • Poor design
mobile trading platform
3.3
  • User-friendly
  • Good search function
  • Good variety of order types
  • No two-step (safer) login
  • No price alerts
  • Mutual funds and bonds are not covered
3.8
  • User-friendly
  • Good search function
  • Price alerts
  • No two-step (safer) login
  • No Touch/Face ID login
desktop trading platform
3.4
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Available in several languages
  • No two-step (safer) login
  • Poor design
markets and products
2.9
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
2.0
  • Forex
  • CFD
  • Crypto
research
3.8
  • Good interactive chart
  • Trading ideas
  • Good option strategy analyzer
  • Screener only for ETFs
3.5
  • Trading ideas
  • User-friendly
  • Economic calendar
  • Limited interactive charting
  • Very low quality newsfeed
customer service
3.5
  • Phone support
  • Live chat
  • 24/7 availability
  • Average speed of customer support
3.4
  • Phone support
  • Live chat
  • Fast response time
  • No 24/7 support
  • Mediocre email support
education
4.3
  • Trading platform tutorial
  • Educational videos
  • No demo account
4.5
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Videos miss tags or categorization
  • High level of investor protection
  • Banking background
  • Regulated by top-tier financial authorities in the US
  • No negative balance protection
  • No investor protection for forex
  • Negative balance protection
  • Not listed on stock exchange
  • Financial information is not publicly available
  • No investor protection outside the EU&UK
recommended for Investors and traders looking for low fees and focusing on the US market Forex and CFD traders who prefer the MetaTrader platform
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