Compare HYCM vs SogoTrade


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

HYCM vs SogoTrade
overall rating
4.3
4.2
overall pros
  • Low forex and CFD fees
  • Great educational content
  • User-friendly account opening
  • Low stock and ETF fees
  • Wide range of research tools
  • Relevant and fast customer service
overall cons
  • Only forex and CFD products
  • Trading platforms have outdated design
  • Inactivity fee
  • High non-trading fees
  • Limited product portfolio
  • Not user-friendly desktop trading platform
fees
3.9
  • Low forex fees
  • Low CFD fees
  • Inactivity fee
3.9
  • Low trading fees
  • Low stock and ETF fees
  • Low inactivity fee
  • High margin rates
  • High fee for wire withdrawal
account opening
5.0
  • Fast
  • Fully digital
  • Low minimum deposit
5.0
  • Fast
  • Fully digital
  • No minimum deposit
  • Not user-friendly
deposit and withdrawal
4.5
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
  • Average account currency selection
1.8
  • No deposit fee
  • Free ACH withdrawal
  • Only one account base currency
  • Slow withdrawal - over 3 days
  • High fee for wire withdrawal
web trading platform
2.8
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Order confirmation
  • No two-step (safer) login
  • No price alerts
  • Poor design
3.0
  • User-friendly
  • Good search function
  • Good variety of order types
  • No clear fee report available
  • No two-step (safer) login
  • Limited customizability (for charts, workspace)
mobile trading platform
3.8
  • User-friendly
  • Good search function
  • Price alerts
  • No two-step (safer) login
  • No Touch/Face ID login
4.5
  • User-friendly
  • Good search function
  • Good variety of order types
  • No two-step (safer) 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
0.9
  • Good customizability (for charts, workspace)
  • Not user-friendly
  • No clear fee report available
  • No two-step (safer) login
  • Available only for Windows
markets and products
2.0
  • Forex
  • CFD
  • Crypto
1.7
  • Stock
  • ETF
  • Options
  • Crypto
research
3.5
  • Trading ideas
  • User-friendly
  • Economic calendar
  • Limited interactive charting
  • Very low quality newsfeed
3.5
  • Trading ideas
  • Data on asset fundamentals
  • Great SogoPlay tool for options strategies
  • Bad charting tools
customer service
3.4
  • Phone support
  • Live chat
  • Fast response time
  • No 24/7 support
  • Mediocre email support
4.0
  • Phone support
  • Live chat
  • Fast response time
  • No 24/7 support
education
4.5
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Videos miss tags or categorization
0.5
  • Educational articles about many topics
  • No demo account
  • No educational videos
  • Hard to navigate
  • Negative balance protection
  • Not listed on stock exchange
  • Financial information is not publicly available
  • No investor protection outside the EU&UK
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Financial information is publicly available
  • Does not hold a banking license
  • Not listed on stock exchange
recommended for Forex and CFD traders who prefer the MetaTrader platform Stock and options traders with a US focus who value great customer service
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