Eightcap vs HYCM

Eightcap vs HYCM Comparison Table 2023
Eightcap Review 2023 HYCM Review 2023
4.6
3.8
United States Flag Traders from US not accepted
United States Flag Traders from US not accepted

Eightcap is a forex and CFD broker founded in Australia in 2009. The brand is popular for its raw spreads on 1000+ instruments and advanced MetaTrader platforms. With five global offices and ASIC regulation, Eightcap has built a strong reputation. New traders can also sign up for a live account in just a few minutes.

HYCM is an online broker with authorization from four international bodies including the FCA and CySEC. The broker offers CFD trading on forex, shares, commodities, indices, ETFs and Bitcoin, and supports the MT4 and MT5 platforms, as well as Trading Central analysis.

Bonus Offer
10% deposit bonus up to $5,000
Comment by Reviewer
"Eightcap is good for traders familiar with MT4 and MT5 looking to trade forex and CFDs in a secure environment. The brand is also a great pick for crypto traders with 100+ derivatives, a sophisticated market scanner, plus Bitcoin and Tether deposits." "Traders looking for a multi-asset broker with good platform support, extra analysis features and strong regulation should try HYCM."
Pros
  • Sophisticated platforms including MetaTrader 4 and TradingView
  • Raw spreads from 0.0 pips and a competitive $3.5 per lot commission
  • Flexible and fee-free payment methods including cryptocurrencies
  • 100+ crypto derivatives, more than most brokers, including crypto crosses and indices
  • Strong trading education and analysis including forex guides and online webinars
  • Cryptocrusher market scanner with sentiment indicators, news and trading signals
  • AI-powered economic calendar with top-level insights, in partnership with Acuity
  • Good for day trading with ECN pricing, a forex VPS and automated trading software
  • Overseen by strong regulators including the FCA
  • Supports the MT4 and MT5 platforms and apps
  • Good range of free analytical tools, particularly Seasonax for pattern analysis
  • Decent pricing, including very tight spreads on the Raw account
  • Fee-free payments with rapid withdrawal processing
Cons
  • Cryptocrusher platform not available for Australian clients
  • Demo account can only be extended upon request
  • Only four commodities available
  • Not the best range of assets, with just a handful of stocks and only one cryptocurrency
  • High commission of $4 each way on the Raw account
  • Monthly inactivity fee
Awards
  • Best Forex Broker 2023 - DayTrading.com
  • Best Cryptocurrency Broker 2023 - DayTrading.com
  • Best MT4/MT5 Broker 2022 - DayTrading.com
  • Best Global Forex MT4 Broker 2020 - Global Forex Awards
  • Best Forex Broker 2021-2022 - Spain, Middle East, Asia, Germany
  • Best Trading Platform App 2021 - Forex Expo
  • Best Mobile Trading App 2020 - World of Finance Forex Award
Instruments
CFDs, Forex, Stocks, Indices, Commodities, Crypto Forex, CFDs, Commodities, Shares, Indices, ETFs
Demo Account
Yes Yes
Minimum Deposit
$100 $100
Trading Platforms
  • MT4
  • MT5
  • TradingView
  • MT4
  • MT5
  • TradingCentral
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
FCA, ASIC, CySEC, SCB FCA, DFSA, CIMA, CySEC
Margin Trading
Yes Yes
Margin Rate
Variable upon regulation and jurisdiction
STP Account
No No
ECN Account
Yes Yes
DMA Account
No No
MAM Account
Yes No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes Yes
Mobile Apps
iOS & Android Yes
Auto Trading
Capitalise.ai platform plus Expert Advisors (EAs) on MetaTrader software Expert Advisors (EAs) on MetaTrader
Copy Trading
No No
Social Trading
No No
Trade Signals
Cryptocrusher - signals for cryptocurrencies
VPS Hosting
Yes No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$0
Islamic Account
Yes Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • NZD
  • SGD
  • USD
  • EUR
  • GBP
  • RUB
  • AED
Stock Exchanges
Commodities
CFD Trading
Trade over 800 CFDs on popular indices, shares, forex, cryptos and commodities. Clients get premium liquidity and superior execution with servers in leading data centres. Eightcap also offers more choice than most competitors in terms of platforms with MT4, MT5 and TradingView. HYCM traders can access CFDs on a range of stocks, indices, commodities and ETFs with floating spreads and maximum leverage varying by instrument. Clients also have a choice between two industry-leading platforms.
Leverage
1:30 (EU), 1:500 (Global) 1:30 (EU), 1:500 (Global)
FTSE Spread
1.2 From 1.5 + $4 per round
GBPUSD Spread
1.0 From 0.1 + $4 per round
Oil Spread
0.03 From 2 pips
Stocks Spread
$0.02 per share, per side ($4 per lot round turn) Variable
Forex Trading
Trade 50+ major, minor and exotic pairs with an award winning platform. Users get institutional-level prices with spreads from 0.0 pips and no commissions. The VPS will also serve high-volume, active day traders. HYCM offers 40+ forex pairs, with most available to trade on either the MT4 or MT5 platform. The maximum leverage on offer is 1:30 in accordance with regulations, and tight spreads start from 0.2 on the Raw account and from 1.2 on the commission-free Classic account.
GBPUSD Spread
1.0 From 0.4 + $4 per round
EURUSD Spread
1.0 From 0.1 + $4 per round
EURGBP Spread
1.0 From 0.4 + $4 per round
Assets
50+ 40+
Cryptocurrency
Eightcap offers over 100 crypto-backed derivatives, more than many rivals. Bitcoin spreads are also lower than most brokers coming in at 12, while the market scanner is a unique and powerful trading aid. HYCM only offers trading opportunities on Bitcoin, which is traded via CFD in a pair with USD. Whilst exposure to the largest crypto by market cap is good, access to other digital currencies would bring the broker in line with competitors.
Spread
From $0 Variable
Coins
  • BTC
  • ETH
  • XRP
  • ADA
  • DOGE
  • BNB
  • LTC
  • TRX
  • BCH
  • XRP
  • EOS
  • DOT
  • LINK
  • MATIC
  • SHIB
  • BSV
  • VET
  • AXS
  • NEO
  • SOL
  • XLM
  • UNI
  • DASH
  • AAVE
  • KSM
  • THETA
  • CAKE
  • SUSHI
  • ATOM
  • BTC
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
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