IC Markets vs HYCM, Who's The Best?
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IC Markets Rating
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HYCM Rating
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Losses can exceed deposits |
Losses can exceed deposits |
IC Markets vs HYCM Guide |
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Read our In-Depth IC Markets vs HYCM Review - 2023 Update
This IC Markets vs HYCM review has been updated for 2023 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations for each broker, the content in this IC Markets vs HYCM review does not apply to all countries as follows:
IC Markets Excluded Countries
United States of America, Canada, Israel, New Zealand, Japan, and Iran.
HYCM Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
Compare IC Markets vs HYCM
Every online trading system will have a few pros and cons, and no IC Markets and HYCM review would be complete without showing both sides. Compare IC Markets and HYCM to understand how they stack up against each other before you create an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
So you are looking for an online trading platform and are choosing between IC Markets or HYCM. Who should you choose?
Our IC Markets vs HYCM comparison contains the most recent information so you can easily compare HYCM against IC Markets.
If you are a new entrant in the world of trading and brokers, so many details will be perplexing for you. Getting into the area of trading requires expert analyzing skills and thorough understanding. You will get proficient at all of the concepts of brokerage as you continue trading. For starters, you need to choose the right agent who'll be clear with you always.
In this fast-paced universe of stock markets and trading, you will need advice to make proper decisions. A professionally lead investment program has the potential to generate hefty returns. IC Markets and HYCM are two such platforms that will take you along with your investment to great heights. It is important that you compare IC Markets vs HYCM until you trust them with your cash.
Our IC Markets vs HYCM comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust IC Markets and HYCM side by side.
Our full IC Markets vs HYCM Review covers all you need to know about trading using either IC Markets or HYCM. A fantastic agent can multiply your first investments and give you favorable profits. If you would like to earn profits, you must trade with a brokerage service that contrasts with your investment goals.
There is no sure-fire way to ensure profits; therefore, you must carefully analyze your broker before you select them. It's a frequent misconception that all brokers will be the same, but that's not correct. Wrong judgment, initially, can put your investments in danger.
IC Markets and HYCM are both brokers which have found their way successfully to the broker world. In this review, we've attempted to collate some of the vital aspects of both IC Markets and HYCM. This review can allow you to understand whether either HYCM or IC Markets is a fantastic fit for your investments or not. We have tried to breakdown all of the qualities and fees for your convenience.
Benefits of IC Markets and HYCM Compared
IC Markets offers a minimum deposit of $200 while HYCM has a $100 minimum deposit.
Why smaller minimum deposits are good and how IC Markets and HYCM compare
The main reason is that you should only deposit what you can afford. If you you have a lower budget, the broker that offers the lowest deposit option will be more attractive. The other reason is because when speculating on riskier but potentially more rewarding financial instruments you should look to speculate with only a small percentage of your allocated trading funds. Don't let a higher minimum deposit totally put you off a broker, look at the overall trading features you are getting from the trading platform. Often a high minimum deposit gives greater choice in the financial assets and trading platform research features.
IC Markets allows you to trade around 232 financial instruments while HYCM has around 232 financial instruments on their platform.
The more instruments you can trade on the IC Markets and HYCM trading platforms the better. It is good to have a diverse portfolio and the options available to a user will always vary. Trading is all about grasping potential opportunities and you should never want to miss out on a trading opportunity due to the limitations of IC Markets or HYCM.
IC Markets and HYCM Contact Details
Being able to contact your broker easily is a sign of a professional broker. IC Markets and HYCM have the following contact details and social medias that you can use.
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| Broker | IC Markets | HYCM |
| Telephone Number | +248 467 19 76 | +44 20 8816 7812 |
| support@icmarkets.com | support@hycm.com | |
| Address | Level 4, 50 Carrington Street, Sydney NSW 2000 | 3rd Floor, 28 Throgmorton St, London, Greater London EC2N 2AN |
| IC Markets Twitter Account | HYCM Twitter Account | |
| IC Markets Facebook Page | HYCM Facebook Page | |
| IC Markets Instagram Account | HYCM Instagram Account | |
| IC Markets LinkedIn Page | HYCM LinkedIn Page | |
| YouTube | IC Markets YouTube Channel | HYCM YouTube Channel |
| Find Out More |
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HYCM and IC Markets Mobile App Comparison
It is becoming increasingly important for brokers to offer simple-to-use apps that provide the same services as desktop platforms.
In this part of our comparison of IC Markets and HYCM we'll check whether either of their mobile apps tick all the boxes.
We rate overall the user-friendliness of both apps as Better than the average.
It is crucial that trading apps have user-friendly capabilities, especially for those who use it with their smartphones.
Search Functions
While most brokers are good at this, there are some poor ones. If you type 'Emerging markets' into the search box, the software will find all Emerging market ETFs, even if the name doesn't begin with 'emerging'. If you only ever traded US stocks and start typing 'Apple', will the AI show you the Apple stock or the obscure Irish stock Applegreen?
IC Markets vs HYCM - Awards
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| Broker | IC Markets | HYCM |
| Awards |
IC Markets have won numerous industry awards over the time they have been running as an online trading platform. We detail the most notable awards for IC Markets here.
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At the time of writing this HYCM review, and despite HYCM’s impressive offering, the company has surprisingly not garnered any awards to date. |
| Find Out More |
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IC Markets vs HYCM - Frequently Asked Questions
IC Markets vs HYCM - Headquarters And Year Of Founding
IC Markets was founded in 2007 and has its headquaters in Australia.
HYCM was founded in 1977 and has its headquaters in UK.
What is the minimum deposit for HYCM or IC Markets
The minimum deposit for IC Markets is $200.
The minimum deposit for HYCM is $100.
Depending on your needs, a lower minimum deposit can be beneficial. If you are experienced with forex trading but are looking for a change then both IC Markets and HYCM are a good option.
IC Markets vs HYCM - Regulation And Licencing In More Detail
IC Markets is regulated by Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC).
HYCM is regulated by Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048.
Both IC Markets and HYCM have a powerful set of rules for ensuring honest trading onto their own platforms. For information encryption functions, they supply industry-standard secure socket layers (SSL).
In accordance with their privacy policies, client information is never to be shared with any other institutions or individuals. This includes credit history and other financial information.
Compare IC Markets vs HYCM Commission And Fees
IC Markets and HYCM are online brokerage platforms, and many online brokerages charge lower prices than traditional brokerages tend to bill. The reason for this is that the companies of online trading platforms are scaled much better. In other words, an internet broker isn't necessarily affected by the number of clients they have.
However, this does not necessarily mean that online brokers don't charge any fees. They charge fees of varying rates for a variety of services to earn money. There are primarily three types of penalties for this purpose.
The first sort of charges to look out for are trading fees. When you make an actual trade, like purchasing a stock or an ETF, you're billed trading charges. In these cases, you're paying a spread, funding speed, or even a commission. The kinds of trading fees and the prices differ from broker to broker.
Commissions could be fixed or determined by the traded quantity. On the flip side, a spread denotes the gap between the buying and selling cost. Funding or overnight prices are people that are charged when you hold a leveraged position for more than a day.
Aside from trading charges, online agents also charge non-trading fees. These are determined by the actions you undertake on your accounts. They're billed for operations like depositing money, not trading for long periods, or withdrawals.
Generally, neither IC Markets or HYCM charge high fees in comparison to other online brokers. For operations other brokers charge for, they either do not charge a brokerage fee, or they charge a smaller sum. This is beneficial for those who regularly exchange, such as daily or weekly trading.
But, non-trading fees billed by IC Markets and HYCM are comparatively competitive. As a result, you are billed more for non-trading activities in your trading accounts, like withdrawal and deposits. These aren't related to the purchase and sale of resources.
This IC Markets vs HYCM review for 2023 breaks down every one of the applicable non-trading charges for you in detail.
Compare Broker Fees For IC Markets And HYCM
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| Broker | IC Markets | HYCM |
| Minimum Deposit | $200 | $100 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | Yes |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
| Find Out More |
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What Languages Do IC Markets And HYCM Support?
Being able to communicate easily with your online broker is a key element when comparing online brokers to find your perfect trading partner. Not only for support but to ensure you understand everything on their site and inside their application as it is a key part of success when trading forex.
Below you will find all the languages that both IC Markets and HYCM support.
How Many Clients Do IC Markets and HYCM Have?
Both IC Markets and HYCM are well established with their client base. It is important to work with a broker you can trust and one of the most simple ways of understanding this is by knowing how many clients are using their services.
Below you will find details of how many users IC Markets and HYCM have
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| Broker | IC Markets | HYCM |
| Clients / Users | 60,000+ | 10,000+ |
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What Payment Methods Do IC Markets and HYCM Accept?
IC Markets and HYCM both offer a wide range of payment options which is vital when you have a global customer base.
Below you will find details of all the payment options available at IC Markets and HYCM
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| Broker | IC Markets | HYCM |
| Bank Transfers | Yes | Yes |
| Credit Cards | Yes | Yes |
| PayPal | Yes | Yes |
| Skrill | Yes | Yes |
| Payoneer | No | Yes |
| Neteller | Yes | Yes |
| Find Out More |
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What Can You Trade With IC Markets and HYCM?
IC Markets offers 232 trading instruments whilst HYCM offers 100.
Below you will find a full breakdown of what both IC Markets and HYCM offer.
Compare IC Markets To All Other Brokers
Compare HYCM To All Other Brokers