ChoiceTrade vs HYCM compared

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

ChoiceTrade
HYCM
ChoiceTrade
3.9
59% of retail CFD accounts lose money

Last update of dataDec 2021

ChoiceTrade

ChoiceTrade is a US stockbroker, regulated by top-tier US authorities the SEC and FINRA. It is not listed on a stock exchange and does not have a banking backgorund.

Recommended for stock and options traders looking for low trading fees and focusing on the US market.

HYCM

HYCM is a global forex and CFD broker regulated by many financial authorities globally, including the top-tier FCA.

Recommended for forex and CFD traders who prefer the MetaTrader platform.

ChoiceTrade's service is slightly weaker than HYCM's and a comparison of their fees shows that ChoiceTrade's fees are slightly higher than HYCM's.

Account opening takes somewhat more effort at ChoiceTrade compared to HYCM, deposit and withdrawal processes are considerably more complicated at ChoiceTrade, while customer service quality is somewhat better than HYCM's.

Our experts rated the trading platform of ChoiceTrade as somewhat worse than the platform of HYCM, found that clients have access to about the same number of markets and products with ChoiceTrade, while HYCM provides somewhat better research and education.

*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.

Basic data of broker

Overall Score
3.9

Recommended for Stock and options traders looking for low trading fees and focusing on the US market

Overall Score
4.4

Recommended for Forex and CFD traders who prefer the MetaTrader platform

Country of origin

USA

Country of origin

UK

Fees

Fees score
3.8
Fees score
4.2
Fees summary

Low trading fees, high non-trading fees, low stock and ETF fees

Fees summary

Low CFD and forex fees, average non-trading fees

Stock and ETF fees

Forex fees

Fund fees

Bond fees

Options fees

Futures fees

CFD fees

Non-trading fees

Deposit and withdrawal

Deposit and withdrawal score
0.8
Deposit and withdrawal score
4.5
Number of base currencies

1

Number of base currencies

6

Deposit type

Withdrawal type

Account opening

Account opening score
4.2
Account opening score
5.0
Account opening fully online
Account opening fully online
Minimum deposit
*

$100

*
Minimum deposit
*

$100

*
Time to open account

1-3 days

Time to open account

1 day

Required documents

Proof of identity: ID / passport / driver's license Proof of residency: utility bill

Required documents

Proof of identity: national ID / passport / driver's license Proof of residency: bank statement / utility bill

Trading platform

Web platform score
1.5
Web platform score
2.8
Mobile platform score
3.5
Mobile platform score
4.3
Desktop platform score
2.8
Desktop platform score
3.4

Markets and products

Markets and products score
2.2
Markets and products score
2.2
Stocks
Stocks
Fractional shares
Fractional shares
ETFs
ETFs
Forex
Forex
Funds
Funds
Bonds
Bonds
Options
Options
Futures
Futures
Crypto
Crypto
*
*
CFDs
CFDs
CFD disclaimer

Disclaimer: 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Research, education

Research score
2.8
Research score
3.3
Charting quality

Poor

Charting quality

Mid-range

Education score
3.0
Education score
4.5
Demo account
Demo account

Customer service

Customer service score
3.9
Customer service score
3.4
Phone
Phone
Live chat
Live chat
Email
Email
24/7 availability
24/7 availability

Security

Investor protection amount

$500,000 (securities up to $500,000, cash up to $250,000)

Investor protection amount

£85,000 for cliens under FCA, €20,000 under CySEC, no protection under other entities

Banking background
Banking background
Listed on stock exchange
Listed on stock exchange
Foundation date

2000

Foundation date

1977

Country of regulation

USA

Country of regulation

UK, Cyprus, Dubai, Cayman Islands

ChoiceTrade

For detailed information and hands-on experience, read our review of this broker.

HYCM

For detailed information and hands-on experience, read our review of this broker.

*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.

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.

Brokers displayed might not be available in United States.

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