HYCM vs FXCC

HYCM vs FXCC Comparison Table 2024
HYCM FXCC
3.8
4.5
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.

FXCC is an established broker that’s been offering low-cost online trading since 2010. Registered in Nevis and regulated by the CySEC, it stands out for its ECN trading conditions, no minimum deposit and smooth account opening that takes less than 5 minutes.

Customer Reviews
3
Bonus Offer
10% deposit bonus up to $5,000 100% First Deposit Bonus Up To $2000
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." "FXCC continues to prove itself an excellent option for forex day traders with an extensive range of 70+ currency pairs, ultra-tight spreads from 0.0 pips during testing, and high leverage up to 1:500 in the ECN XL account. "
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
  • Competitive and transparent ECN spreads from 0.0 pips with zero commissions, making FXCC one of the cheapest forex brokers
  • As an MT4 broker, FXCC offers advanced charting tools and excellent support for algo traders, especially when combined with the free VPS
  • The free education section, including the 'Traders Corner' blog, offers a large selection of materials that will serve all experience levels
  • There are no deposit fees except industry-standard mining charges on cryptos, which is advantageous for active traders
  • FXCC is trusted and licensed by the CySEC, a top-tier European regulator offering high standards of safeguarding
  • There are no restrictions on short-term trading strategies like day trading and scalping
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
  • FXCC’s single platform offering is a major drawback compared to many alternatives, notably AvaTrade which provides 5 platforms to suit different trader preferences
  • Although MetaTrader 4 continues to shine for technical analysis, the subpar design dampens the trading experience, especially compared to modern alternatives like TradingView
  • There is a threadbare selection of research tools like Trading Central and Autochartist, value-add features available at category leaders like IG
  • While the range of currency pairs exceeds most alternatives, the selection of additional assets is narrow, and notably, there are no stocks
  • High withdrawal fees may catch out unsuspecting traders, including a significant $45 charge for bank wire payments
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 STP Broker 2019 - World Finance Magazine Awards
  • Best Trading Account (XL Account) 2019 - World Finance Magazine Awards
  • Best Trading Account (XL Account) Europe 2018 - Global Banking & Finance Awards
  • Best STP Broker Europe 2018 - Global Banking & Finance Awards
  • Best Trading Account (XL Account) 2018 - JFEX Awards
  • Best MT4 Broker 2018 - JFEX Awards
  • Best Islamic Forex Broker (XL Account) 2018 - MENA Forex Show Awards
  • Best STP/ECN Forex Broker 2018 - MENA Forex Show Awards
  • Best Forex Trading Account 2017 - UK Forex Awards
Instruments
CFDs, Forex, Stocks, Indices, Commodities, ETFs CFDs, Forex, Indices, Commodities, Crypto
Demo Account
Yes Yes
Minimum Deposit
$20 $0
Trading Platforms
  • HYCM Trader
  • MT4
  • MT5
  • TradingCentral
  • MT4
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
FCA, DFSA, CIMA, CySEC CySEC
Margin Trading
Yes Yes
Margin Rate
Variable upon regulation and jurisdiction
STP Account
No Yes
ECN Account
Yes Yes
DMA Account
No No
MAM Account
No Yes
PAMM Account
No Yes
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 iOS & Android
App Review

FXCC elevates mobile trading with the MT4 app on iPhone, iPad, and Android, perfect for day traders with its reliable, advanced charting featuring 30 indicators, 9 timeframes and 3 chart types. It’s incredibly easy to dive into trading on the MT4 app through an FXCC account, with just 3 simple steps. The app offers the flexibility to trade a great selection of over 70 currency pairs and other popular markets on the go.

Android App Rating
3.6
4.4
iOS App Rating
3
4.8
Auto Trading
Expert Advisors (EAs) on MetaTrader Expert Advisors (EAs) on MetaTrader
Copy Trading
No No
Social Trading
No No
Trade Signals
Yes
VPS Hosting
No Yes
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$10 $5
Islamic Account
Yes Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • RUB
  • AED
  • USD
  • EUR
  • GBP
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. FXCC offers a narrow range of CFDs beyond forex with a limited selection of metals, energies, indices and cryptos. However, it stands out with its high leverage up to 1:500, which will serve experienced day traders looking to maximize their buying power while speculating on rising and falling prices.
Leverage
1:301:500 1:500
FTSE Spread
1.5 Variable
GBPUSD Spread
0.1 1.0
Oil Spread
2.0 0.03
Stocks Spread
2.2% NA
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. FXCC's key selling point is its forex trading conditions. ECN spreads come in as low as 0.0 pips during peak trading hours, while it supports a wider range of currency pairs than the majority of rivals with over 70 forex assets. Additionally, you have access to MT4, which was built specifically for forex trading and excels for its charting tools.
GBPUSD Spread
0.4 1.0
EURUSD Spread
0.1 0.2
EURGBP Spread
0.4 0.5
Assets
40+ 70+
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. FXCC offers 8 of the most popular cryptocurrencies, including Bitcoin, Ethereum and Litecoin. High leverage up to 1:10 is available on BTC and 1:5 on other cryptos. There are no restrictions on crypto day trading strategies with Expert Advisors (EAs) also permitted.
Spread
Variable Variable
Coins
  • BTC
  • BTC
  • BCH
  • ETH
  • LTC
  • XMR
  • ZEC
  • DAS
  • XRP
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
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