Basic data of broker
Recommended for Forex and CFD traders who prefer the MetaTrader platform
Recommended for Traders looking for broad market access and a professional trading environment
Best online broker
Low CFD and forex fees, average non-trading fees
Low trading and non-trading fees, free stock and ETF trading for US customers
Stock and ETF fees
Deposit and withdrawal
Proof of identity: national ID / passport / driver's license Proof of residency: bank statement / utility bill
Proof of identity: national ID / passport / driver's license Proof of residency: bank statement / utility bill / driver's license / credit card statement
Markets and products
Disclaimer: 73% 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.
Disclaimer: 60.0% 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.
£85,000 for cliens under FCA, €20,000 under CySEC, no protection under other entities
£85,000 or $500,000 (but only $250,000 for cash) in the UK depending on the assets you hold; $500,000 ($250,000) in the US; €20,000 (IB Ireland & Luxembourg) or €100,000 (IB Central Europe) in the EU, CAD 1 million in Canada; HKD 500,000 in Hong Kong
UK, Cyprus, Dubai, Cayman Islands
USA, Ireland, UK, Hungary, India, Australia, Canada, Japan, Hong Kong, Singapore
For detailed information and hands-on experience, read our review of this broker.
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.
HYCM's service is slightly weaker than Interactive Brokers's and a comparison of their fees shows that HYCM's fees are slightly higher than Interactive Brokers's.
Account opening takes less effort at HYCM compared to Interactive Brokers, deposit and withdrawal processes are more seamless at HYCM, while customer service quality is similar to Interactive Brokers's.
Our experts rated the trading platform of HYCM as being of the same quality as the platform of Interactive Brokers, found that clients have access to much less markets and products with HYCM, while Interactive Brokers provides somewhat better research and education.
More alternatives to HYCM and Interactive Brokers