Alpari vs HYCM - Fees Review included
Which broker is better Alpari or HYCM? Our expert assessment conducted according to TU’s own methodology showed that Alpari is one of the top brokers in the financial market with the TU Overall Score of 6.53 out of 10. HYCM is one of the top brokers in the financial market with the TU Overall Score of 4.99 out of 10. Find out more about TU Overall Score.
| Feature | Alpari | HYCM |
|---|---|---|
Overall |
4 |
4.4 |
3.7 |
4.5 |
|
3.5 |
4.3 |
|
4.1 |
4.0 |
|
Investment Instruments |
3.5 |
4.5 |
Platforms and Charting Tools |
3.9 |
4.3 |
Deposit and Withdrawal |
4.1 |
4.5 |
Research |
3.8 |
4 |
Education |
4.1 |
4.6 |
Support |
4.6 |
4.7 |
Bonuses |
4.5 |
4.1 |
|
|
|
Alpari vs HYCM: Pros and Cons
The Alpari broker has been providing financial services in the international foreign exchange market since 1998. The company's services include both active Forex trading and investment offers. The broker is registered in the territory of Saint Vincent and the Grenadines. Its license is № 20389 IBC 2012, issued by the Registrar of International Business Companies. The Company is also a member of The Financial Commission, which handles the settlement of disputes worldwide between brokers and their clients. The broker has received more than 30 awards, including Forex Expo Awards (2011, 2012, 2014), International Finance Magazine Awards (2013), and FX Empire Awards (2017).
HYCM company is a division of Henyep Group. It has been trading on the Forex market for over 40 years. The broker has earned 15 awards since it commenced trading. Among these awards, broker has won the Best Forex Broker Award in 2019 and Best Mobile Trading Platform by World Finance in 2017. The company provides services to both private and institutional traders. It offers a wide selection of trading tools allowing traders to trade currency, precious metals, securities, cryptocurrency, etc
| Alpari | HYCM | |
|---|---|---|
| Overall Pros | a large number of trading accounts for traders with different levels of experience and goals; | extensive experience and reliability - the company has been operating for over 40 years |
| high-quality and efficient work by the customer support service | excellent trading conditions | |
| many ways to replenish the deposit and withdraw funds | good liquidity | |
| fast execution of orders | ||
| over 300 trading instruments | ||
| Overall Cons | no trading on weekends | customer service does not work on weekends |
| withdrawal of funds is carried out after occasional delays | inconvenient for scalping | |
| commission compensation for deposits or withdrawals is available only for traders with VIP status; | few opportunities for passive trading | |
| trading on the MetaTrader 5 platform is available only for traders with standard accounts, and swap-free Forex Islamic accounts work only on MetaTrader 4. |
Alpari vs HYCM: Safety and Regulation
| Regulated By: | Alpari | HYCM |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
Yes |
CySec (Cyprus, EU) |
No |
Yes |
ASIC (Australia) |
No |
No |
Other Regulators |
FSC (Mauritius) |
Dubai Financial Services Authority (DFSA) and the Cayman Islands Monetary Authority (CIMA) |
Alpari vs HYCM: Trading Conditions
| Trading Conditions | Alpari | HYCM |
|---|---|---|
Minimum Deposit |
$1 |
$100 |
Trading Platforms |
MetaTrader 4, MetaTrader 5 |
MT4, MT5, HYCM Mobile |
Max Leverage (Futures) |
1-30000 |
1-500 |
Supported Markets |
Currency pairs, metals, CFDs |
Forex, indices, commodities, securities, cryptocurrencies |
Trading assets |
78+ |
300+ |
Trading Accounts |
nano.mt4, standard.mt4, standard.mt5, ecn.mt4, pro.ecn.mt4, special.ecn.mt4, ecn.mt5 |
Fixed, Classic, Raw |
Base Account Currencies |
USD and EUR |
EUR, USD, GBP, RUB, CAD, AED |
Alpari vs HYCM: Fees
Forex Trading Fees
| Fee | Alpari | HYCM |
|---|---|---|
Standard Account EURUSD Average Spread |
0.1 pips |
1.2 pips |
Standard Account Fee |
$50 |
$0 |
ECN/STP Account Fee |
$50 |
Not supported |
ECN Account EUR Average Spread |
0.3 pips |
Not supported |
CFD Trading Fees
| Fee | Alpari | HYCM |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Alpari | HYCM |
|---|---|---|
Account Fee |
$50 |
No |
Deposit Fee |
5 EUR/USD/GBP/ 80 ZAR |
No |
Withdrawal Fee |
From 0 up to 50 USD/ 800 ZAR |
0.01 |
Inactivity Fee |
5 EUR/USD/GBP/ 80 ZAR |
$10 per month after 3 months of inactivity |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Alpari vs HYCM: Trading Assets
| Asset Name | Alpari | HYCM |
|---|---|---|
Overall |
78+ |
300+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes |
Yes |
Cryptocurrencies |
Yes (Bitcoin CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes |
ETFs |
Yes (CFD) |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Alpari or HYCM: Investment Programs
| Asset Name | Alpari | HYCM |
|---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
Yes |
Other |
No |
No |
Trading Platforms: HYCM or Alpari
| Alpari | HYCM | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
HYCM Mobile |
Others |
No |
No |
|
|
|
Alpari vs HYCM: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Alpari | HYCM |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
No |
Crypto |
No |
No |
Alpari vs HYCM: Research
| Research Type | Alpari | HYCM |
|---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
No |
E-Mail Reports |
No |
No |
Alpari vs HYCM: Education
| Education Type | Alpari | HYCM |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Cent account |
No |
No |
HYCM vs Alpari: Support
| Support Features | Alpari | HYCM |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
Facebook, WhatsApp, VK, Telegram |
Facebook, Viber, Skype, WhatsApp, Telegram, Callback |
Alpari vs HYCM: Forex Bonuses and Promo
| Promo | Alpari | HYCM |
|---|---|---|
Forex Bonus |
Proprietary bonus system: For replenishment of the account, trading, and other operations, the trader receives bonus points on his personal account, which can later be exchanged for discounts or real money; Cashback service: Clients with a high status in the system receive more privileges and access to additional bonuses. |
No |
Affiliate Program |
"Revenue Sharing" - a broker's representative may attract new clients and receive up to 60% of the spread for trading operations carried out by the invited trader; “CPA-partner” is a partner whose task is also to attract new customers, but a reward of up to $275 is paid only after new invitees open new accounts and replenish them at least once. |
HYCM have an incentive for attracting new customers, a commission after a new trader makes a deposit and another being 20% of income from profits of the trader attracted by a partner. |
Other Promos |
Bonus from 20% for deposit replenishment. |
|
|
|
|
Top 5 Reviews on HYCM
-
Comment
I trade at HYCM on a live account, which I opened more than 7 months ago. Of course, not everything I expected came true, but I’m happy with everything anyway. I get a stable, but not particularly large profit. I can’t say anything bad about the broker’s staff — they always respond to my requests on time. They provide consultations, which, of course, is good news. I think HYCM is an average broker, no worse or better than others. Have a good trading!
-
Comment
HYCM is positive, but I would say it is of average level. I think that now it is in the process of earning its reputation. In general, there are no big complaints. It can be seen that the company strives to become better.
-
Comment
I have been working with hy markets for several months now, and I can confidently describe my impressions. I enjoy working with them and I'm glad I changed the broker. This company is reliable, all payments are made without delays. I am attracted by low spreads, but there is something I am not happy with, of course. There were glitches, but they did not affect my profit.
-
Comment
Today I made my third withdrawal from HYCM. I withdrew $550, and it came without any problems. The fact that there are no problems with withdrawals is certainly encouraging. This has become a problem for many people lately.
-
Comment
Thank you for the support service of hy markets! They quickly helped me understand how to use the trading platform!
Top 5 Reviews on Alpari
-
Comment
Many traders collaborate with the broker Alpari. I myself traded with this broker for several years. At one time, Alpari was one of the best among forex companies. But now, there is fierce competition, with many brokers offering favorable conditions as well as regulatory licenses. And this broker has remained in the past for now.
-
Comment
I leave a neutral review of alpari. This company is reputable and when you get to know it closer, you understand that the broker has no special problems. Everything is fine with payments. There are deposit and withdrawal fees. They are small, but they exist. Slippages occur, though not very strong.
-
Comment
I can recommend Alpari as a stable and reliable broker, which has earned its reputation over the years of its work. It is focused on clients, not on its profit, and this is the most important thing. It is also important to note that order execution is at a high level, and withdrawals are made quickly and without any difficulties. Alpari provides good support service where knowledgeable Forex specialists work.
-
Comment
For me, the main advantage of Alpari is the variety of available trading instruments. I traded both currency pairs and crypto. I can also add that Alpari has a fast trading platform. There are no requotes, and this is very important in my trading.
-
Comment
I have known Alpari for six years. At first I traded here for two years, then I stopped trading at all. I didn’t work in the Forex market for two years, and then I returned again. I tried trading in another company, but I didn't like it. I funded my account with Alpari again and am trading here up to now. I can’t say that the broker is perfect, since problems do occur. But the company withdraws profits without any problems.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.