FxPro vs HYCM: Which One Is Best?

2. FxPro: Better Trading Platform

Both FxPro and HYCM offer a range of trading platforms to suit different trading styles and preferences.

1. MetaTrader 4 and 5

FxPro and HYCM both offer MetaTrader 4 and 5, the most popular forex trading platforms in the industry. These platforms are known for their advanced charting features, customisability, and automated trading capabilities. Check out our comparison of the Best MT4 Brokers and the Best MT5 Brokers for more details.

2. cTrader and TradingView

FxPro also offers cTrader, a platform known for its intuitive interface and advanced order capabilities. It’s considered one of the Best cTrader Brokers. HYCM does not offer cTrader but provides Trading Central, a leading provider of technical analysis.

3. Social And Copy Trading

Both brokers offer social and copy trading features. FxPro offers FxPro SuperTrader, a platform dedicated to copy trading. HYCM offers HYCM Invest, a platform that allows you to copy the trades of successful traders. Check out our review of the Best Social Trading Platforms for more information.

4. VPS and Other Trading Tools

FxPro and HYCM both offer VPS services for traders who use automated trading systems. They also provide a range of other trading tools, including economic calendars, calculators, and market analysis.

Verdict

Both brokers offer a wide range of trading platforms and tools, but FxPro’s cTrader gives it a slight edge for traders looking for advanced order capabilities.

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3. FxPro: Superior Accounts And Features

FxPro and HYCM offer a range of account types to cater to different trading needs.

FxPro offers four account types: MT4, MT5, cTrader, and FxPro Edge (for spread betting). Each platform has its own account type with different features and benefits. Check out our review of the best forex demo accounts for more information.

HYCM offers three account types: Fixed, Classic, and Raw. The Fixed account offers fixed spreads, the Classic account offers variable spreads, and the Raw account offers raw spreads with a commission. HYCM also offers Islamic accounts for traders who follow Sharia law. You can read more about Swap Free Islamic Accounts here.

Verdict

Both brokers offer a variety of account types to suit different trading needs. However, FxPro’s dedicated spread betting platform (FxPro Edge) gives it a slight edge for traders interested in spread betting.

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4. FxPro: Best Trading Experience And Ease

When it comes to trading experience, both FxPro and HYCM have their merits, but let’s get into the nitty-gritty. FxPro offers a no-dealing-desk execution model, which means faster execution speeds. This is a game-changer for traders like me who can’t afford to miss a beat. On the other hand, HYCM provides instant execution on its Fixed and Classic accounts, which is also quite impressive.

• FxPro offers MetaTrader 4, MetaTrader 5, and cTrader platforms, giving traders a variety of options.
• HYCM, while not offering cTrader, does provide MetaTrader 4 and 5.
• Our own testing showed that FxPro has faster execution speeds, clocking in at 10 ms for limit orders and 9 ms for market orders.
• HYCM’s execution speed data was not available, but their instant execution on certain accounts is noteworthy.

Now, let’s talk about ease of use. FxPro’s platforms are user-friendly and come with a range of tools that make trading a breeze. HYCM also offers a user-friendly experience but lacks some of the advanced tools that FxPro provides.

Verdict

Based on our analysis and testing, FxPro offers the best overall trading experience and ease of use.

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5. FxPro: Stronger Trust And Regulation

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Trust and regulation are crucial factors to consider when choosing a forex broker. Both FxPro and HYCM are regulated by multiple reputable regulatory bodies.

FxPro is regulated by the CySEC in Cyprus, the FCA in the UK, the FSCA in South Africa, and the SCB in the Bahamas. It also operates under the Markets in Financial Instruments Directive (MiFID) in the European Union.

HYCM, on the other hand, is regulated by the FCA in the UK, the CySEC in Cyprus, and the DFSA in Dubai. It is also a member of the Henyep Group, a global conglomerate with a presence in 20 countries.

Verdict

Both brokers are highly regulated, which provides traders with a high level of trust and security. However, FxPro’s wider range of regulatory oversight gives it a slight edge in this category.

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6. FxPro: Top Product Range And CFD Markets

When it comes to the range of products and CFD markets, both FxPro and HYCM have a lot to offer. FxPro provides a wide range of trading instruments, including forex, commodities, indices, and cryptocurrencies. HYCM is no slouch either, offering a similar range but with a few unique additions.

Our own testing didn’t reveal any significant differences in the range of products offered, but it’s worth noting that FxPro has a staggering number of Shares CFDs, which could be a deciding factor for some traders. HYCM, on the other hand, offers a wider range of Indices CFDs, which might appeal to those focused on index trading.

Verdict

Based on the available range of CFDs and markets, FxPro offers a more comprehensive product range, particularly in the area of Shares CFDs.

FxPro ReviewVisit FXPro

7. HYCM: Superior Educational Resources

When it comes to educational resources, both FxPro and HYCM have invested in helping traders up their game. FxPro offers a comprehensive educational section on its website, complete with webinars, eBooks, and video tutorials. HYCM isn’t far behind, offering a similar range of resources but with a focus on beginner-friendly content.

• FxPro provides webinars that cover a range of topics, from basic to advanced trading strategies.
• HYCM offers a set of beginner-friendly webinars that are easy to follow.
• FxPro’s educational section includes a wide range of eBooks and articles.
• HYCM also offers eBooks but focuses more on beginner-level content.
• FxPro provides video tutorials that are comprehensive and cover various trading aspects.
• HYCM’s video tutorials are more beginner-oriented and cover basic trading concepts.

Based on our own testing, FxPro scored a 6, while HYCM scored a 6.5 in the area of educational resources. Both brokers offer a solid set of educational materials that cater to traders at different levels.

Verdict

Based on our testing scores, HYCM slightly edges out FxPro in offering superior educational resources with a score of 6.5 against FxPro’s 6.

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8. HYCM: Superior Customer Service

Customer service is a crucial aspect of a forex broker. Both FxPro and HYCM offer excellent customer service with multiple channels of communication, including live chat, phone, and email. They also provide extensive educational resources to help traders improve their trading skills.

Verdict

Both FxPro and HYCM offer excellent customer service. However, FxPro’s customer service is available 24/5, while HYCM’s customer service is available 24/5 for trading issues and 5 days a week for other issues.

9. FxPro: Better Funding Options

When it comes to funding options, both FxPro and HYCM offer a variety of methods to make it convenient for traders. FxPro provides multiple options, including credit/debit cards, bank wire transfers, and e-wallets like Skrill and Neteller. HYCM also offers a similar range but includes additional options like WebMoney and Bitcoin.

FxPro and HYCM both have a minimum deposit requirement of $100, which is quite reasonable. However, it’s worth noting that FxPro does not charge any deposit fees, while HYCM may charge fees depending on the method used. This could be a crucial factor for traders who are sensitive to additional costs.

Verdict

Based on the available funding options and potential fees, FxPro offers a more cost-effective range of funding options.

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10. Tie: Lower Minimum Deposit

Both FxPro and HYCM have a minimum deposit requirement of $100. FxPro requires a $100 minimum deposit for its MT4/MT5, MT4 Instant, and FxPro cTrader platforms.

HYCM has a more structured deposit requirement. For its Classic and Fixed Spread accounts, a minimum deposit of $100 is required. For the RAW account, the minimum deposit is considerably lower at $20.

Here’s a quick comparison table for your convenience:

Verdict

It’s a tie between the two brokers when it comes to minimum deposit. Having varying amounts between accounts, choose the broker that offers the type of account you foresee using.

FxPro ReviewVisit FXPro

So Is HYCM or FxPro The Best Broker?

FxPro is the winner because it outperforms HYCM in most of the key areas that matter to traders, such as spreads, trading platforms, and account features. The table below summarises the key information leading to this verdict.

FxPro: Best For Beginner Traders

FxPro is the better choice for beginner traders due to its low spreads.

FxPro: Best For Experienced Traders

FxPro also stands out for experienced traders, offering a wide range of products and advanced trading features.