FBS vs HYCM - Fees Review included
Which broker is better FBS or HYCM? Our expert assessment conducted according to TU’s own methodology showed that FBS is one of the top brokers in the financial market with the TU Overall Score of 7.33 out of 10. HYCM is one of the top brokers in the financial market with the TU Overall Score of 6.88 out of 10. Find out more about TU Overall Score.
| Feature | FBS | HYCM |
|---|---|---|
Overall |
4.3 |
4.4 |
4.6 |
4.5 |
|
3.9 |
4.3 |
|
4.1 |
4.0 |
|
Investment Instruments |
4.7 |
4.5 |
Platforms and Charting Tools |
4.5 |
4.3 |
Deposit and Withdrawal |
4.2 |
4.5 |
Research |
3.9 |
4 |
Education |
4.2 |
4.6 |
Support |
3.9 |
4.7 |
Bonuses |
5 |
4.1 |
|
|
|
FBS vs HYCM: Pros and Cons
FBS (fbs.com) is an international broker operating in 190 countries. The brokerage company has been on the market for over 10 years, and during this time it has earned about 40 international awards. It is regulated by the CySEC under license number 331/17 and provides flexible conditions for Forex trading. FBS is especially popular in Asian countries such as India, Malaysia and Indonesia.
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
| FBS | HYCM | |
|---|---|---|
| Overall Pros | A large selection of trading instruments | extensive experience and reliability - the company has been operating for over 40 years |
| Copyt trading platform | excellent trading conditions | |
| $140 no-deposit bonus (not available for EU clients) | good liquidity | |
| Crypto account | fast execution of orders | |
| over 300 trading instruments | ||
| Overall Cons | Hihg trading fees | customer service does not work on weekends |
| Slow exacution speed | inconvenient for scalping | |
| few opportunities for passive trading |
FBS vs HYCM: Safety and Regulation
| FBS | HYCM | |
|---|---|---|
Max. Regulation Level |
Tier-1 |
Tier-1 |
Investor protection |
€20,000 |
€20,000 £85,000 |
FCA UK Regulation |
No |
Yes |
FINRA (U.S) |
No |
No |
BaFin (Germany) |
No |
No |
ASIC (Australia) |
No |
Yes |
CFTC (U.S) |
No |
No |
MAS |
No |
No |
FSCA SA |
No |
No |
BVI FSC |
No |
No |
VFSC |
No |
No |
FSA (Seychelles) |
No |
No |
FBS vs HYCM: Trading Conditions
| Trading Conditions | FBS | HYCM |
|---|---|---|
Minimum Deposit |
$1 |
$100 |
Trading Platforms |
MetaTrader 4, MetaTrader 5, FBS Trader |
MT4, MT5, HYCM Mobile |
Max Leverage (Futures) |
401769 |
1-500 |
Supported Markets |
Forex, CFDs on stocks, indices, metals, energies, crypto |
Forex, indices, commodities, securities, cryptocurrencies |
Trading assets |
200+ |
300+ |
Trading Accounts |
Standard, Cent, ECN, Micro, Zero Spread, Copy Trade |
Fixed, Classic, Raw |
Base Account Currencies |
EUR, USD |
EUR, USD, GBP, RUB, CAD, AED |
FBS vs HYCM: Fees
| FBS | HYCM | |
|---|---|---|
Standard acc. spread EUR/USD, min pips |
0,7 |
0,5 |
Standard acc. spread EUR/USD, max pips |
1,3 |
1,2 |
ECN Commission |
2 |
|
ECN Spread EUR/USD |
0,1 |
|
Deposit fee, % |
No |
No |
Withdrawal fee, % |
No |
No |
Withdrawal fee, USD |
No |
No |
Inactivity fee, $ |
No |
10 |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
FBS vs HYCM: Trading Assets
| Asset Name | FBS | HYCM |
|---|---|---|
Overall |
200+ |
300+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
FBS or HYCM: Investment Programs
| Asset Name | FBS | HYCM |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
Yes |
Other |
No |
No |
Trading Platforms: HYCM or FBS
| FBS | HYCM | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
FBSTrader |
HYCM Mobile |
Others |
No |
No |
|
|
|
FBS vs HYCM: Deposit and Withdrawal Methods
| FBS | HYCM | |
|---|---|---|
Bank Wire |
Yes |
Yes |
Bank Card |
Yes |
Yes |
Neteller |
Yes |
Yes |
BTC |
No |
No |
Wise |
No |
No |
Payoneer |
No |
No |
USDT |
No |
No |
FBS vs HYCM: Research
| Research Type | FBS | HYCM |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
FBS vs HYCM: Education
| Education Type | FBS | HYCM |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
HYCM vs FBS: Support
| Support Features | FBS | HYCM |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
FB Messenger |
Facebook, Viber, Skype, WhatsApp, Telegram, Callback |
FBS vs HYCM: Forex Bonuses and Promo
| Promo | FBS | HYCM |
|---|---|---|
Forex Bonus |
$140 no deposit bonus, up to 100% deposit bonus (Bonuses are not available for EU and UK clients) |
No |
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 |
By activating the option in the personal account, a trader can receive a cashback of up to $15 per lot |
Bonus from 20% for deposit replenishment. |
|
|
|
Top 5 Reviews on HYCM
-
Comment
HYCM stands out with its multilingual support (14 languages), mobile platform, and the ability to fund accounts via popular payment systems — Visa/MasterCard, Skrill, Neteller, and others. The minimum deposit is $100, and available leverage goes up to 1:500. The company offers three types of trading accounts: Fixed, Classic, and Raw. However, customer support is unavailable on weekends, which can be inconvenient if urgent issues arise during that time.
-
Comment
HYCM is a broker with over 40 years of experience, offering both Market and Instant Execution trading. The minimum order size starts from 0.01 lots, which suits most retail traders. Five account currencies are supported — USD, EUR, GBP, RUB, and CAD. Spreads start from 0.1 pips, and negative balance protection adds stability to trading. However, the lack of a cent account and a limited range of passive investment tools may restrict flexibility for certain types of traders.
-
Comment
HYCM provides access to over 300 trading instruments, including currency pairs, cryptocurrencies, commodities, and securities. The minimum deposit is set at $100, and leverage can go up to 1:500. Available platforms include MT4, MT5, and HYCM Mobile. Spreads start from 0.1 pips. The broker is regulated and works with major liquidity providers such as Barclays and HSBC. However, there is no PAMM service, and passive investment solutions are limited.
-
Comment
Trading with hy markets, I especially appreciated the variety of available platforms. MetaTrader 4 and 5 are time-tested tools, and their availability already indicates a serious approach. But there is also HYCM Mobile, which is a great option for those who are just starting out or prefer to trade from their phone. I started my way with this mobile platform and I am satisfied with it: it is clear, convenient and allows you to quickly immerse yourself in the process, learning the approaches of experienced traders. On top of that, I have confidence in the broker. Regulation in different jurisdictions adds reliability and gives me the feeling that I am working with an honest company that abides by the rules of the game.
-
Comment
Broker HYCM pleases with fast execution of orders, which is especially important for traders working with active strategies. This allows to minimize slippages and accurately execute trades at the chosen time. However, it should be taken into account that the broker does not have cent accounts, which may be inconvenient for beginner traders or those who prefer to minimize risks at the start.
Top 5 Reviews on FBS
-
Comment
Broker FBS provides access to trading on more than 150 markets, including forex, indices, metals, and futures contracts. The minimum deposit is $5, making FBS accessible for beginner traders. Leverage goes up to 1:3000, and the minimum spread on major currency pairs starts from 0.7 pips. Trading platforms available include MetaTrader 4, MetaTrader 5, and FBS Trader, with a minimum trade size of 0.01 lots.
-
Comment
I've been working with FBS for over six months. Withdrawals to a card usually take up to 48 hours, and fees depend on the chosen method. On the Pro account, spreads start from 0.5 pips but can widen during news releases. The company is regulated by the IFSC — not the strictest regulator, but it's something.
-
Comment
I occasionally use copy trading from FBS. It’s convenient that you can start with just $1. However, when choosing a trader, it’s important to carefully analyze their statistics — not all of them trade consistently. On the plus side, there’s automation; on the downside, the search filters are limited.
-
Comment
I started working with FBS because of the wide variety of account types. The conditions vary: for example, the Cent account requires just a $1 minimum deposit, while the ECN account starts at $1000. Each account suits a different trading strategy. The key is to carefully review the spreads and commissions before opening an account.
-
Comment
I did not get the answer I was seeking or I might have read a different thing online, I really can’t say because when I contacted the FBS support team. After trying the live chat option to no avail, I decided to try the Telegram channel. Initially, it was supposed to be a bot but I got a message that an agent would join. When I asked for the accounts available and features and the ideal one for Forex I got a long message which I did not understand (I was expecting a list of accounts and their features). Later the agent said they only offer standard accounts.
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.