XBTFX vs HYCM - Fees Review included
Which broker is better XBTFX or HYCM? Our expert assessment conducted according to TU’s own methodology showed that XBTFX is one of the top brokers in the financial market with the TU Overall Score of 7.52 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 | XBTFX | HYCM |
|---|---|---|
Overall |
3.7 |
4.4 |
1.2 |
4.5 |
|
4.2 |
4.3 |
|
3.9 |
4.0 |
|
Investment Instruments |
4.6 |
4.5 |
Platforms and Charting Tools |
4.7 |
4.3 |
Deposit and Withdrawal |
4.5 |
4.5 |
Research |
3.8 |
4 |
Education |
3.5 |
4.6 |
Support |
4.1 |
4.7 |
Bonuses |
2.4 |
4.1 |
|
|
|
XBTFX vs HYCM: Pros and Cons
Established in 2019, XBTFX has been following its core goal to bridge the gap between the cryptocurrency market and brokerage companies. At the same time, the company runs its business based on the principles of high transparency and accessibility. XBTFX is a Cryptocurrency-based Forex and CFD provider that gives customers access to leveraged trading on digital assets and traditional financial markets.
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
| XBTFX | HYCM | |
|---|---|---|
| Overall Pros | Crypto dposits | extensive experience and reliability - the company has been operating for over 40 years |
| Big choice of supported crypto assets | excellent trading conditions | |
| Copy trading and MAM services for investors | good liquidity | |
| fast execution of orders | ||
| over 300 trading instruments | ||
| Overall Cons | unregulated broker | customer service does not work on weekends |
| inconvenient for scalping | ||
| few opportunities for passive trading |
XBTFX vs HYCM: Safety and Regulation
| Regulated By: | XBTFX | HYCM |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
Yes |
CySec (Cyprus, EU) |
No |
Yes |
ASIC (Australia) |
No |
No |
Other Regulators |
Not regulated |
Dubai Financial Services Authority (DFSA) and the Cayman Islands Monetary Authority (CIMA) |
XBTFX vs HYCM: Trading Conditions
| Trading Conditions | XBTFX | HYCM |
|---|---|---|
Minimum Deposit |
$1 |
$100 |
Trading Platforms |
MT4, MT5, Webtrader, Mobile platforms |
MT4, MT5, HYCM Mobile |
Max Leverage (Futures) |
1-500 |
1-500 |
Supported Markets |
FX, Commodities, CFDs, CryptoCurrency, Share CFD, Commodities, Metals |
Forex, indices, commodities, securities, cryptocurrencies |
Trading assets |
150+ |
300+ |
Trading Accounts |
Standard, ECN |
Fixed, Classic, Raw |
Base Account Currencies |
BTC, ETH, XRP, USDT, USDC |
EUR, USD, GBP, RUB, CAD, AED |
XBTFX vs HYCM: Fees
Forex Trading Fees
| Fee | XBTFX | HYCM |
|---|---|---|
Standard Account EURUSD Average Spread |
1 pip |
1.2 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$3.5 per lot |
Not supported |
ECN Account EUR Average Spread |
0.2 pips |
Not supported |
CFD Trading Fees
| Fee | XBTFX | HYCM |
|---|---|---|
CFD Trading Fee |
Crypto CFDs - 0.075% per deal, US Stock CFDs $0.10 per share, EU, ASIA, Russia stock CFDs - 0.45% |
Floating spread |
Non-Trading Fees
| Fee | XBTFX | HYCM |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
0.01 |
Inactivity Fee |
No |
$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.
XBTFX vs HYCM: Trading Assets
| Asset Name | XBTFX | HYCM |
|---|---|---|
Overall |
200+ |
300+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes |
Cryptocurrencies |
Yes |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes |
Yes |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
XBTFX or HYCM: Investment Programs
| Asset Name | XBTFX | HYCM |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
Yes |
Other |
No |
No |
Trading Platforms: HYCM or XBTFX
| XBTFX | HYCM | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
HYCM Mobile |
Others |
No |
No |
|
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|
XBTFX vs HYCM: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | XBTFX | HYCM |
|---|---|---|
Bank Transfer |
No |
Yes |
Debit Card |
No |
Yes |
Electronic Wallets |
No |
No |
Crypto |
Yes |
No |
XBTFX vs HYCM: Research
| Research Type | XBTFX | HYCM |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
No |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
No |
E-Mail Reports |
No |
No |
XBTFX vs HYCM: Education
| Education Type | XBTFX | HYCM |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Cent account |
No |
No |
HYCM vs XBTFX: Support
| Support Features | XBTFX | HYCM |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
No |
Yes |
Online chat |
No |
Yes |
Other |
Twitter, Facebook, Reddit |
Facebook, Viber, Skype, WhatsApp, Telegram, Callback |
XBTFX vs HYCM: Forex Bonuses and Promo
| Promo | XBTFX | HYCM |
|---|---|---|
Forex Bonus |
No |
No |
Affiliate Program |
Earn up to 30% of what your referrals pay in trading fees |
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. |
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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 XBTFX
-
Comment
From the very beginning, XBTFX conditions suited me and I was satisfied with a minimum deposit. To achieve results, of course, you need more, but this is a good investment to start with for a novice trader. Then, when you become more experienced, you can increase it and get rich.
-
Comment
Good guys work at xbtfx and I often write to them in the chat. Everything is explained clearly, and I am satisfied with deposit and withdrawal methods. Fees are also good.
-
Comment
I would like to share my experience with XBTFX, which turned out to be a good choice. Among the positive aspects is that this broker allows scalping and also provides high leverage, which can be useful for experienced traders. The account opening process was incredibly fast and took only 3 minutes. I liked that the information on the XBTFX website is accessible, making it easy to interact with. All this made my work in the market easy and comfortable.
-
Comment
I have been trading with XBTFX since 2023, starting with small amounts. Now I am already trading with large amounts and I can wholeheartedly recommend this broker, because execution of orders is excellent and withdrawal of profits is very fast. The broker doesn't interfere with trading.
-
Comment
At XBTFX, there are attractive broker commission conditions, which is why I've been trading here for two years. There are no issues with the trading terminal. The broker offers the MT5 terminal, which works very quickly. Order processing happens in fractions of a second, so scalping strategies can be used without problems. Finally, I would like to mention that XBTFX processes profit withdrawals to a bank card within two days. I recommend it.
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.