| Online Broker | Minimum Deposit | Trading Platforms | Markets | Regulation |
|---|---|---|---|---|
| HYCM | $20 Minimum Deposit | MT4, MT5 Trading Platforms | 300+ Markets To Trade | HYCM supports automated trading with Expert Advisors (EA) robots, offering MT4 and MT5 About |
| eToro | $50 Minimum Deposit | Web Trader & Apps Trading Platforms | 2000+ Markets To Trade | eToro provides social and copy trading on its user friendly CopyTrader platform About |
HYCM vs eToro Comparison
eToro is a Social Investment Network, offering a user friendly trading platform which allows the trader to trade 2000+ markets and inform their trading with the idea of other traders (i.e. social trading). HYCM is an MT4 and MT5 broker, which provides accounts supporting both automated (with MT4 and MT5 Expert Advisors trading robots) and non-automated trading.
eToro provides the capacity to auto trade, where trades of other traders are copied into the trader's own account. This is a different kind of automation from Expert Advisors, as in this case, computer programs execute automated trading strategies on behalf of the trader (following a pre-programmed set of rules or algorithms).
eToro offers real Stocks, Cryptos and ETFs to buy to own in addition to CFD trading. eToro also has a staking service (to earn rewards from Cryptos, T&Cs apply) and provides its eToro Money crypto wallet (where Cryptos can be exchanged). eToro also offers real Stocks to buy with 0% commission.
eToro is regulated by the FCA in the United Kingdom, the CySEC in Cyprus, the ASIC in Australia and the FSAS in the Seychelles. 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
eToro provides social and copy trading and 2000+ markets, HYCM supports both non-automated trading and automated trading with online trading robots on MT4 and MT5.
Minimum deposit and key account features
The minimum deposit for HYCM is $20. The minimum deposit for eToro is $50.
- eToro is a Social Trading Platform and Network which supports trading, social trading as well as auto trading by copying other traders (or being copied) and provides products based on this network. eToro offers the eToro Club, which is a tiered program with additional features depending on account equity (which can include personalised service and event invitations), starting at $5000 (Silver) and going up to Diamond ($250,000). The minimum trade size is 0.01 lots.
- 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 Fixed, Classic and Raw accounts is $20.
Markets
- eToro offers Forex, Indices, Energy, Metals, Stocks, Cryptocurrencies, Soft Commodities, ETFs and Bonds, with 2000+ available.
- HYCM offers Forex, Indices, Energy, Metals, Stocks, Cryptocurrencies and Soft Commodities, with 80+ available on MT4 and 300+ on MT5. On the MT4 Classic and Raw accounts, HYCM offers Forex and Precious Metals, with 45+ available.
eToro has 45+ Forex pairs, HYCM has 60+ Forex pairs.
| Broker | Trading Platforms | Description |
|---|---|---|
| HYCM Broker | MT4, MT5 Trading Platforms | HYCM provides MT4 and MT5 and allows automated trading with EAs on these platforms Description |
| eToro Broker | Web Trader & Apps Trading Platforms | eToro offers its CopyTrader platform which supports social and copy trading and offers real Stocks, ETFs and Cryptos to buy to own in addition to CFDs Description |
Spreads and leverage
- HYCM 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 and eToro offers Forex spreads from 1 without a commission charge.
- Maximum leverage for HYCM (CySEC or FCA regulated) is . Maximum leverage for eToro (CySEC or FCA regulated) is .
Commission charge
- HYCM charges a commission of $2 per lot per side on the Raw account.
- eToro does not charge Forex commissions.
Online trading platforms
eToro provides a web trader and apps, HYCM offers MT4 and MT5.
Why eToro or HYCM ?
Traders who want to trade on MT4 and MT5 and use online trading robots may do so at HYCM. Traders who want to social and copy trade on a user freindly platform may do so at eToro. Traders who want to buy real Stocks, ETFs and Cryptos may do so at eToro.
Comparison summary
- Both offer CFD trading
- eToro offers real Cryptos, Stocks and ETFs when bought
- eToro has a user friendly trading platform
- HYCM offers MT4 and MT5 and supports the use of Expert Advisors
- eToro's platform has social and copy trading tools
