XM vs HYCM - Fees Review included
Which broker is better XM or HYCM? Our expert assessment conducted according to TU’s own methodology showed that XM is one of the top brokers in the financial market with the TU Overall Score of 8.52 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 | XM | HYCM |
|---|---|---|
Overall |
4.5 |
4.4 |
4.9 |
4.5 |
|
4.3 |
4.3 |
|
4.4 |
4.0 |
|
Investment Instruments |
4.4 |
4.5 |
Platforms and Charting Tools |
4.6 |
4.3 |
Deposit and Withdrawal |
4.7 |
4.5 |
Research |
5 |
4 |
Education |
5 |
4.6 |
Support |
4.6 |
4.7 |
Bonuses |
5 |
4.1 |
|
|
|
XM vs HYCM: Pros and Cons
XM Broker was founded in 2009. Initially, the company covered a narrow niche of the trader market, specializing exclusively in intermediary services at the foreign exchange market. It has since experienced considerable success and growth. XM is reliable and safe. It has diversified and is now an international broker operating in almost 190 countries around the world. For over a decade XM Broker has attracted 3,5 million traders, offering unique technological solutions. The company is now being recognised as the Fastest Growing Broker, the Best Forex Service Provider and various other contributing achievements. The team at XM Broker is committed to continually working hard to improve the quality of the services provided every year as they are committed to continually providing the best service to their traders.
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
| XM | HYCM | |
|---|---|---|
| Overall Pros | Well-Regulated broker | extensive experience and reliability - the company has been operating for over 40 years |
| Strong research tools | excellent trading conditions | |
| Strong education | good liquidity | |
| Big Forex bonuses | fast execution of orders | |
| Free deposit and withdrawal | over 300 trading instruments | |
| Instant withdrawal | ||
| 1000+ trading assets | ||
| Overall Cons | High spreads | customer service does not work on weekends |
| inconvenient for scalping | ||
| few opportunities for passive trading |
XM vs HYCM: Safety and Regulation
| Regulated By: | XM | HYCM |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
Yes |
Yes |
ASIC (Australia) |
Yes |
No |
Other Regulators |
IFSC (Belize) |
Dubai Financial Services Authority (DFSA) and the Cayman Islands Monetary Authority (CIMA) |
XM vs HYCM: Trading Conditions
| Trading Conditions | XM | HYCM |
|---|---|---|
Minimum Deposit |
$5 |
$100 |
Trading Platforms |
MT4, MT5 |
MT4, MT5, HYCM Mobile |
Max Leverage (Futures) |
1:888, 1:30 (for EU, UK clients) |
1-500 |
Supported Markets |
Forex, CFDs on indices, commodities, crypto, metals, stocks |
Forex, indices, commodities, securities, cryptocurrencies |
Trading assets |
1300+ |
300+ |
Trading Accounts |
Micro, Standard, Ultra Low, Zero |
Fixed, Classic, Raw |
Base Account Currencies |
USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR |
EUR, USD, GBP, RUB, CAD, AED |
XM vs HYCM: Fees
Forex Trading Fees
| Fee | XM | HYCM |
|---|---|---|
Standard Account EURUSD Average Spread |
1.7 pips |
1.2 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Not offered |
Not supported |
ECN Account EUR Average Spread |
Not offered |
Not supported |
CFD Trading Fees
| Fee | XM | HYCM |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | XM | HYCM |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
0.01 |
Inactivity Fee |
$15 after 5 months of inactivity |
$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.
XM vs HYCM: Trading Assets
| Asset Name | XM | HYCM |
|---|---|---|
Overall |
1300+ |
300+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes |
Cryptocurrencies |
Yes (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 |
XM or HYCM: Investment Programs
| Asset Name | XM | HYCM |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
Yes |
Other |
No |
No |
Trading Platforms: HYCM or XM
| XM | HYCM | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
HYCM Mobile |
Others |
No |
No |
|
|
|
XM vs HYCM: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | XM | HYCM |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
No |
Crypto |
Yes |
No |
XM vs HYCM: Research
| Research Type | XM | HYCM |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
XM vs HYCM: Education
| Education Type | XM | HYCM |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
HYCM vs XM: Support
| Support Features | XM | HYCM |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
Facebook, Viber, Skype, WhatsApp, Telegram, Callback |
XM vs HYCM: Forex Bonuses and Promo
| Promo | XM | HYCM |
|---|---|---|
Forex Bonus |
up to $5000 forex bonus, up to 100% forex deposit bonus |
No |
Affiliate Program |
Multi tier affiliate program |
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 XM
-
Comment
I have been exclusively trading with ECN brokers and decided it is time to try a market maker for variety. I did a lot of research before signing up and XM Group was among my top three brokers in the final shortlist. I then decided to register with them. The registration process was straightforward and done within 5 minutes, and went right in for my first trade. The terminal is in MT5 and there is nothing much going on. Honestly, this is a huge plus for someone like me who prefers a no-frills platform as you can understand everything that goes on very easily. One standout feature I would like to mention is their fully-customizabl
-
Comment
XM’s registration process is by far the fastest among all the brokers I have enrolled in. I went to their website, clicked register, filled in my email and password, and my trading account was created just like that. I can already go around and explore its website features right after the account creation. Then I opted to download their XM app and went all in with the account verification which turned out to be super fast when using the app. They only asked for one identification card (a time saver) and a face scan for confirmation. Next I received an email saying that my documents have been uploaded and will be reviewed within 24 hours. Only a few minutes had gone by and I received another email confirming that my account had been verified. Love this smooth account registration process.
-
Comment
XM offers leverage ranging from 1:1 to 1000:1, which isantop feature for traders looking to open a large position with a low trading capital. but after my experience trading with leverage on XM, i think new traders should avoid trading with leverage when they newly start trading on their live account. Leverages should be a feature for experts if i am to suggest. After trying leverages on demo accounts I decided to use it on my live accounts. Eager to dip my toes into the dynamic realm of financial markets, I deposited $100 into my trading account with XM, a renowned brokerage platform. Excitedly, I decided to trade the EUR/USD currency pair, one of the most widely traded pairs in the forex market. With a leverage of 1:100, I saw an opportunity to magnify the potential profits and opened a position. The EUR/USD pair seemed promising, with positive economic indicators favoring the Euro. I was optimistic as the trade commenced, envisioning significant gains. However, the market is as unpredictable as the wind, and soon, the trade turned against my proposed strategy. The leverage, while offering the potential for amplified gains, also exposed me to higher risks. As the EUR/USD pair plummeted, so did my account balance. In the blink of an eye, my $100 deposit dwindled away as a result of the fluctuations of the forex market. I realized the importance of risk management and the need for a thorough understanding of leverage. So my approach to trading is to implement strategies that would protect my capital in the future and to use a minimum of 1:10 leverage if I must use it anytime soon.
-
Comment
Beginner traders on XM group can benefit from the rich educational tools provided on the research and education section on the platform. When you click on the research button, resources available here are grouped into three different groups. Beginners alcan start learning about Forex trading with the options available under the learning center. Resources here will help a novice learn about the XM platform Forex and CFD trading. The videos available will introduce a beginner trader to the financial markets and instruments like shares, CFDs, Forex, Crypto, pips, lots, and position size. This videos are meant to breed novice traders from level 1 trader to an expert trader.
-
Comment
I initially paid $3000 to start with and an account manager demonstrated a growth of $500 in quick time. A specialist then came in and tried to get me to invest $25000 to which I bluntly denied and they tried with $20K, then $10K and even $5K to all of which I refused! They have now kept me hanging and I asked for a refund to which they are asking for more money from me and I don't know what more to do! Also as of yesterday, the site itself is DOWN!! I cannot log in anymore and the email contact i had from there, when i sent the email to check it came back saying that domain does not exist anymore!! I am at loss of words and my hard earned money unfortunately i was able to recover my money back with the help of Olivia teams get in touch with them oliviatrader 44 at gmail com WhatApp +1 (423) 248 - 2140
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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.