Dive into our comprehensive comparison of Pepperstone and HYCM. We compare these two brokers on key criteria to help you decide which one is the best fit for your trading needs.
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Pepperstone and HYCM are both well-established forex brokers, but they cater to different types of traders. Pepperstone is known for its low spreads and extensive range of trading platforms, making it a popular choice for experienced traders. On the other hand, HYCM offers a more simplified trading experience, which may be more appealing to beginner traders.
When it comes to trading costs, both brokers have their strengths and weaknesses.
Pepperstone offers competitive spreads on their standard account, with the average spread on major pairs like EUR/USD being 1.46 pips according to our exclusive research. On the other hand, HYCM’s standard account spreads are slightly higher. Tight spreads are important as they reduce the cost of trading, which can significantly impact your profitability in the long run.
| Broker | Average Spread |
|---|---|
| Pepperstone | 1.46 pips |
| HYCM | N/A |
For traders who prefer raw spreads, Pepperstone’s Razor account offers spreads from 0.36 pips according to our exclusive research. HYCM, however, does not offer a similar account type.
| Broker | Average Spread |
|---|---|
| Pepperstone | 0.36 pips |
| HYCM | N/A |
Pepperstone charges a commission of $7 round turn for 1 standard lot on its Razor account according to our exclusive research. HYCM does not charge any commission on its accounts, but the spreads are slightly higher.
| Broker | Per Side (USD) | Round Turn (USD) |
|---|---|---|
| Pepperstone | $3.50 | $7 |
| HYCM | N/A | N/A |
Both brokers do not charge any fees for deposits and withdrawals, which is a plus point for both.
Pepperstone does not charge any inactivity fees, while HYCM charges a $10 per month inactivity fee after 90 days of inactivity.
Verdict: When it comes to trading costs, Pepperstone has a slight edge due to its lower spreads and the option for a commission-based account. You can learn more about low commission forex brokers here.
| Criteria | Pepperstone | HYCM |
|---|---|---|
| Standard Account Spreads | 1.46 pips | N/A |
| RAW Account Spreads | 0.36 pips | N/A |
| Commission (Round Turn) | $7 | N/A |
| Deposit & Withdrawal Fees | No | No |
| Inactivity Fees | No | Yes |
Pepperstone is regulated by the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the UK. HYCM, on the other hand, is regulated by the Cyprus Securities Exchange Commission (CySEC). Both brokers are also registered with multiple regulatory bodies worldwide, ensuring a high level of trust and security for their clients.
Verdict: Both brokers are highly regulated, but Pepperstone has a slight edge due to its regulation by the ASIC and FCA, which are considered more reputable regulatory bodies. You can learn more about ASIC regulated brokers here.
| Broker | Regulators |
|---|---|
| Pepperstone | ASIC, FCA |
| HYCM | CySEC |
Both brokers offer a range of trading platforms to cater to the needs of different traders.
Both Pepperstone and HYCM offer MetaTrader 4 and 5, the most popular trading platforms in the forex industry. These platforms are known for their advanced charting tools, automated trading capabilities, and customizability.
Pepperstone also offers cTrader, a platform known for its intuitive interface and advanced order capabilities. HYCM does not offer this platform. Neither broker offers TradingView. You can learn more about the best cTrader forex brokers here.
Both brokers offer social and copy trading features, allowing traders to copy the trades of successful traders. Pepperstone offers this feature through Myfxbook and ZuluTrade, while HYCM offers this feature through its proprietary platform. You can learn more about the best copy trading platforms here.
Pepperstone offers free VPS hosting for traders who meet certain criteria, which can help improve execution speeds and reduce latency. HYCM does not offer free VPS hosting.
Verdict: Pepperstone offers a wider range of trading platforms and tools, making it the better choice for traders who value flexibility and advanced features.
| Criteria | Pepperstone | HYCM |
|---|---|---|
| MetaTrader 4 and 5 | Yes | Yes |
| cTrader | Yes | No |
| Social and Copy Trading | Yes | Yes |
| Free VPS Hosting | Yes | No |
When it comes to the trading environment, execution speed is a key factor to consider. According to research conducted by CompareForexBrokers, Pepperstone ranks 3rd in terms of execution speed, making it one of the fastest brokers in the market. HYCM, on the other hand, was not included in the research, so it’s difficult to compare their execution speeds directly. However, based on user reviews and feedback, HYCM’s execution speed is generally considered to be satisfactory. You can learn more about DMA forex brokers here.
Verdict: Based on the available data, Pepperstone offers a superior trading environment due to its faster execution speeds.
| Criteria | Pepperstone | HYCM |
|---|---|---|
| Execution Speed | 3rd fastest | N/A |
Pepperstone offers two main types of accounts: the Standard account and the Razor account. The Standard account offers no commissions but slightly higher spreads, while the Razor account offers raw spreads with a commission. HYCM offers three types of accounts: 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. You can learn more about the best forex broker demo accounts here.
Verdict: Both brokers offer a variety of account types to cater to different trading preferences. However, Pepperstone’s Razor account with its raw spreads and low commission may be more appealing to experienced traders.
| Broker | Account Types |
|---|---|
| Pepperstone | Standard, Razor |
| HYCM | Fixed, Classic, Raw |
Both Pepperstone and HYCM offer excellent customer service, with multiple channels of communication including live chat, email, and phone support. However, Pepperstone stands out with its 24/7 customer service, while HYCM’s customer service is available 24/5.
Verdict: While both brokers offer excellent customer service, Pepperstone’s 24/7 availability gives it the edge.
| Broker | Customer Service Availability |
|---|---|
| Pepperstone | 24/7 |
| HYCM | 24/5 |
When considering other trading factors, it’s important to look at aspects such as minimum deposit levels and payment methods.
Pepperstone does not have a minimum deposit, while HYCM has a higher minimum deposit requirement of $100 for its Fixed and Classic accounts, and $200 for its Raw account. You can learn more about Micro Accounts here.
Both brokers offer a variety of payment methods, including credit/debit card, bank transfer, and e-wallets such as Skrill and Neteller. However, Pepperstone also offers PayPal, which is not available with HYCM.
Pepperstone offers a wide range of trading products, including forex, CFDs on indices, commodities, cryptocurrencies, and more. HYCM also offers a similar range of trading products.
Verdict: Pepperstone has a lower minimum deposit requirement and offers more payment methods, making it a more flexible choice for traders.
| Criteria | Pepperstone | HYCM |
|---|---|---|
| Minimum Deposit | $0 | $100/$200 |
| Payment Methods | Credit/Debit Card, Bank Transfer, E-Wallets, PayPal | Credit/Debit Card, Bank Transfer, E-Wallets |
| Trading Products | Forex, Indices, Commodities, Cryptocurrencies, etc. | Forex, Indices, Commodities, Cryptocurrencies, etc. |
Best For Beginner Traders: HYCM, with its simplified trading experience and range of educational resources, is a great choice for beginner traders. Its fixed spread account can also provide a more predictable trading cost structure for those just starting out.
Best For Experienced Traders: Pepperstone, with its low spreads, wide range of trading platforms, and fast execution speeds, is ideal for experienced traders who need advanced features and tools. Its Razor account is particularly appealing for those who prefer raw spreads and low commissions.
Pepperstone ReviewVisit Pepperstone
| Criteria | Pepperstone | HYCM |
|---|---|---|
| Beginner-Friendly | No | Yes |
| Advanced Features | Yes | No |
| Low Spreads | Yes | No |
| Wide Range of Platforms | Yes | No |
| Fast Execution Speeds | Yes | No |
HYCM is better for beginner traders due to its simplified trading experience and range of educational resources.
Pepperstone generally has lower trading costs due to its lower spreads and the option for a raw spread account. However, HYCM does not charge a commission on any of its accounts.
