| Online Broker | Minimum Deposit | Trading Platforms | Markets | About |
|---|---|---|---|---|
| FXOpen | $300 Minimum Deposit | MT4, MT5, TickTrader Trading Platforms | 600+ Markets To Trade | FXOpen offers trading on MT4, MT5 and TickTrader (including automated trading) and provides a Cent account with a $1 minimum deposit About |
| HYCM | $20 Minimum Deposit | MT4, MT5 Trading Platforms | 300+ Markets To Trade | HYCM provides trading on MT4 and MT5, allowing automated trading with EA robots About |
FXOpen vs HYCM Comparison
Both provide trading on MT4 and MT5. FXOpen additionally offers trading on TickTrader. All these platforms support automated trading. FXOpen offers a Cent account (which has small minimum trade sizes) with a $1 minimum deposit.
FXOpen is regulated by the FCA in the United Kingdom, the ASIC in Australia and the FSRC in Nevis. HYCM is regulated by the FCA in the United Kingdom, the CySEC in Cyprus, the DFSA in Dubai and the CIMA in the Cayman Islands.
Quick comparison
Both offer MT4 and MT5. FXOpen additionally provides a Cent account with a $1 minimum deposit.
Minimum deposit and key account features
The minimum deposit for FXOpen is $1. The minimum deposit for HYCM is $20.
- FXOpen offers three accounts types, ECN, STP and Crypto. The ECN account charges commissions on its markets, the STP does not charge commissions. The ECN account has a wider range of market available. The Crypto account is an STP account which additionally offers a range of Cryptocurrencies (which have a commission charge). The minimum trade size is 0.01 lots. Market news and analysis are available via RSS and an economic calendar is provided on FXOpen's website.
- HYCM offers a Trading Central plug in and has an Economic Calendar, Forex Calculators, News, Market Outlook, Forex Education, Webinars and Seminars on its website. HYCM says that latency is as low at 12ms. The minimum trade size is 0.01 lots.
- HYCM offers Fixed, Classic and Raw account and Islamic accounts for each. The Raw account charges commissions, the others do not. The Classic and Raw accounts allow Expert Advisors. The minimum deposit for the Raw, Fixed and Classic accounts is $20.
Markets
- FXOpen offers Forex, Indices, Energy, Metals, Cryptocurrencies and Stocks, with 600+ available.
- HYCM offers Forex, Indices, Energy, Metals, Cryptocurrencies, Stocks and Soft Commodities and Stocks, with 300+ available.
| Broker | Trading Platforms | Description |
|---|---|---|
| FXOpen Broker | MT4, MT5, TickTrader Trading Platforms | FXOpen provides a Cent account with a $1 minimum deposit and offers automated trading on MT4, MT5 and TickTrader Description |
| HYCM Broker | MT4, MT5 Trading Platforms | HYCM offers trading (including automated trading) on MT4 and MT5, allowing automated trading with EA robots Description |
Spreads and leverage
- Both brokers may offer very low Forex spreads for the most liquid Forex pairs, plus a commission charge. HYCM also offers Forex spreads without a commission charge from 1.3.
- Maximum leverage for FXOpen (FCA regulated) is . Maximum leverage for HYCM (CySEC or FCA regulated) is .
Commission charge
- For Forex, FXOpen charges a commission, which depends on volume traded, from $1.5 - $5 per standard lot per side. Other instruments have differing commission charges.
- HYCM charges a commission of $2 per lot per side on the Raw account.
Online trading platforms
Both offer MT4 and MT5. FXOpen additionally offers TickTrader.
Why FXOpen or HYCM ?
Traders who want to trade on MT4 or MT5 may do so at either. Traders who want to trade on user friendly TickTrader can do so at FXOpen. Traders who want to use online trading robots can do this at both. Traders who want to trade on a Cent account with a low ($1) minimum deposit can do this at FXOpen.
Comparison summary
- Both provide CFD trading
- Each offers MT4 and MT5
- FXOpen additionally provides TickTrader
- Both allow automated trading
- FXOpen offers a Cent account with a $1 minimum deposit
