| Online Broker | Minimum Deposit | Trading Platforms | Markets | About |
|---|---|---|---|---|
| HYCM | $20 Minimum Deposit | MT4, MT5 Trading Platforms | 300+ Markets To Trade | HYCM offers trading on MT4 and MT5 (the successor to MT4) allowing automated trading with Expert Advisors (EA) robots About |
| IQ Option | $10 Minimum Deposit | Web Trader & Apps Trading Platforms | 300+ Markets To Trade | IQ Option offers a user friendly platform with a low minimum deposit ($10) and order size ($1 or 0.001 lots) About |
HYCM vs IQ Option Comparison
HYCM is an MT4 and MT5 broker, while IQ Option offers trading on its web trader and a downloaded version of this platform. HYCM supports the use of automated trading on its Classic and Raw accounts.
IQ Option's trading platform is clear and accessible. Both brokers can offer a similar number of markets to trade. IQ Option has a lower minimum deposit.
Quick comparison
MT4 & MT5 CFD broker (HYCM) vs CFD broker with accessible web trader (IQ Option).
Minimum deposit and key account features
The minimum deposit for HYCM is $20. The minimum deposit for IQ Option is $10.
- 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.
- IQ Option has Market Analysis, News, a Forex Calendar, an Earnings Calendar and a Crypto Calendar on its trading platform. The minimum order size is $1.
Markets
- HYCM offers Forex, Indices, Energy, Soft Commodities, Stocks, Metals and Cryptocurrencies, with 300+ available (there are less on MT4).
- IQ Option offers Forex, Indices, Energy, Soft Commodities, Stocks, Metals, Cryptocurrencies, ETFs and Options, with 300+ available.
HYCM provides 65+ Forex pairs, IQ Option provides 45+ Forex pairs.
| Broker | Trading Platforms | Description |
|---|---|---|
| IQ Option Broker | Web Trader & Apps Trading Platforms | IQ Option provides a user friendly platform (with a range of fundamental analysis tools) with a low minimum deposit ($10) and order sie ($1) Description |
| HYCM Broker | MT4, MT5 Trading Platforms | HYCM provides both MT4 and MT5 allowing automated trading with robots Description |
Leverage
Maximum leverage for HYCM (CySEC or FCA regulated) is . Maximum leverage for IQ Option is .
Commission charge
- HYCM charges a commission of $2 per lot per side on the Raw account.
- IQ Option does not charge commissions.
Platforms
HYCM provides MT4 and MT5, while IQ Option offers a web trader and a downloaded version of this. Both brokers provide apps for mobile and tablet.
Why HYCM or IQ Option ?
Traders who want to trade on a user friendly platform with a range of tools for those who plan and execute their own trades, may do so at IQ Option. Traders who want to trade on MT4 and MT5 and use online trading robots (for automated trading) can do this at HYCM. Traders who want to trade with a low minimum deposit ($10) and order size ($1 or 0.001 lots) can do this at IQ Option.
Comparison summary
- Both offer CFD trading
- HYCM is an MT4 and MT5 broker
- IQ Option provides a user friendly web trader and a downloaded version
- Both brokers have apps for tablet and mobile
- HYCM supports automated trading with EAs
- IQ Option has a low minimum trade size
