HYCM vs AMarkets

HYCM vs AMarkets Comparison Table 2024
HYCM AMarkets
3.8
2.8
United States Flag Traders from US not accepted
United States Flag Traders from US not accepted

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

AMarkets is an established forex and CFD broker registered in the Cook Islands. Founded in 2007, the brokerage has over 1 million clients and is regulated in several offshore jurisdictions, including St Vincent and the Grenadines and Mwali. Over 1400 instruments are available on the popular MT4 and MT5 platforms.

Bonus Offer
10% deposit bonus up to $5,000 25% welcome deposit bonus
Comment by Reviewer
"Traders looking for a multi-asset broker with good platform support, extra analysis features and strong regulation should try HYCM. The competitive raw-spread accounts will also serve scalpers and high-volume traders." "The copy trading service at AMarkets will appeal to beginners while experienced traders will rate the wide range of trading products, including ETFs, bonds and cryptos."
Pros
  • The low $20 minimum deposit is suitable for beginners, as well as the Fixed spread account with no commissions
  • The broker is overseen by trusted regulators, including the FCA
  • MT4 and MT5 integration ensures that active day traders can access a vast selection of technical charting tools
  • There's a good range of free analytical tools, particularly Seasonax for pattern analysis
  • Spreads are competitive in the Raw account, starting from 0.1 pips for EUR/USD
  • Traders can access fee-free payments with rapid processing
  • Cashback program with up to $17 rewarded for every lot traded, plus a VIP program with better trading conditions
  • A range of trading tools including a calculator, economic calendar, and sentiment indicators
  • Copy trading USD account with a $100 minimum deposit, leverage up to 1:500 and hedging
  • Regular trading news, forex analysis and trading ideas in the broker's Telegram channel
  • Micro Bitcoin (MBT) account available for beginners with a low 0.001 BTC deposit
  • No fees for deposits and a range of fast methods, including crypto transfers
  • Access to Autochartist analysis with signals and automated position entry
Cons
  • Not the best overall range of assets, with just 200+ stocks
  • Market coverage varies quite significantly between account types and platforms
  • There's a high commission of $4 each way on the Raw account
  • There are wider standard spreads than many competitors
  • We found that educational materials trail alternatives
  • No top-tier regulation reduces the trust score
  • Withdrawal fees up to 1.8%
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
  • Best Value Broker Middle East 2020 - Global Forex Awards
  • Fastest Growing Forex Broker in the Middle East 2019 - Egypt Investment Expo
  • Best Execution Speed Highest Client Success Rate 2014 - IAFT Awards
  • Fastest Growing Broker 2013 - STP Broker Asia
  • Best Educational Program 2011 - Show FX
Instruments
CFDs, Forex, Stocks, Indices, Commodities, ETFs Forex, CFDs, indices, shares, commodities, cryptocurrencies, bonds
Demo Account
Yes Yes
Minimum Deposit
$20 $100
Trading Platforms
  • HYCM Trader
  • MT4
  • MT5
  • TradingCentral
  • MT4
  • MT5
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
FCA, DFSA, CIMA, CySEC FSA SVG
Margin Trading
Yes No
Margin Rate
Variable upon regulation and jurisdiction
STP Account
No No
ECN Account
Yes No
DMA Account
No No
MAM Account
No 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 No
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes No
Mobile Apps
iOS & Android Yes
Android App Rating
3.6
iOS App Rating
3
Auto Trading
Expert Advisors (EAs) on MetaTrader Expert Advisors (EAs) on MetaTrader
Copy Trading
No Yes
Copy Trading Platform
The copy trading service is a good option for newer traders and you can pick investors to follow based on their profitability, fees, number of followers and more. The $100 starting deposit is also accessible for beginners.
Social Trading
No Yes
Trade Signals
Yes
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$10
Islamic Account
Yes Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • RUB
  • AED
Stock Exchanges
Commodities
CFD Trading
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. Experienced traders can access leverage up to 1:1000 on a range of CFDs across metals, energies, indices and more. Beginners can also follow and copy successful CFD trades in the copy trading account.
Leverage
1:301:500 1:1000
FTSE Spread
1.5 64
GBPUSD Spread
0.1 0.6
Oil Spread
2.0 3
Stocks Spread
2.2% Variable
Forex Trading
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. AMarkets offers a decent range of 42 majors, minors and exotics with low spreads from 0.2 pips in the ECN account. With that said, Standard account spreads come in at around 1.5 pips for EUR/USD, which is higher than the best forex brokers.
GBPUSD Spread
0.4 0.6
EURUSD Spread
0.1 0.3
EURGBP Spread
0.4 1.5
Assets
40+ 42
Cryptocurrency
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. Access a decent range of crypto pairs against USD and deposit just 10 MBT to access the broker's Micro Bitcoin account. Deposit methods include Bitcoin, Binance Coin and Ethereum.
Spread
Variable From 30
Coins
  • BTC
  • BTC
  • BCH
  • DSH
  • ETC
  • ETH
  • LTC
  • XRP
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
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