Plus500 vs HYCM, Updated for 2024
Read our In-Depth Plus500 vs HYCM Review - 2024 Update
Our Plus500 vs HYCM review has been updated to reflect any changes for 2024 from industry experts with considerable expertise across CFDs, Forex, & Social Trading.
Please note that due to regulations for each broker, the content in this comparison of Plus500 vs HYCM does not apply to all countries as follows:
Plus500 Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
HYCM Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
Compare Plus500 vs HYCM
All trading platforms has certain pros and cons, and any comprehensive analysis of Plus500 vs HYCM cannnot be regarded as thorough without having a fair assessment.
Assess Plus500 and HYCM to understand how these platforms compare with each prior to you decide to open an account. Performing a comparative analysis helps to bring aspects in perspective so that you're aware of the expectations.
So you are looking for a professional broker and are choosing between Plus500 or HYCM. Who is better in 2024?
Our Plus500 vs HYCM comparison contains the latest information so you can easily compare HYCM against Plus500.
If you're a new entrant in the realm of trading and brokers, so many details will be perplexing for you. Getting into the world of trading demands expert assessing skills and comprehensive understanding. You'll acquire proficient at all the concepts of brokerage since you continue trading. For starters, you have to choose the ideal broker who'll be transparent with you always.
Within this fast-paced universe of stock markets and trading, you'll need guidance to make correct decisions. A professionally lead investment program has the potential to create hefty returns. Plus500 and HYCM are two such trading platforms that will take you along with your investment into great heights. It's crucial that you compare Plus500 vs HYCM until you trust them with your money.
Our Plus500 vs HYCM comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust Plus500 and HYCM side by side.
Our full Plus500 vs HYCM Review covers everything you need to know about trading using either Plus500 or HYCM. A fantastic agent can multiply your first investments and give you favorable profits. If you want to make profits, you must trade with a brokerage service that aligns with your investing objectives.
There's absolutely no sure-fire way to guarantee profits; thus, you should carefully assess your agent before you choose them. It is a common misconception that all agents are exactly the same, but that's not correct. Wrong judgment, in the beginning, can put your investments in danger.
Plus500 and HYCM are both brokers that have forged their way successfully to the broker world. In this review, we've attempted to collate a number of the vital aspects of both Plus500 and HYCM. This review can help you to know whether either HYCM or Plus500 is a good match for your investments or not. We've attempted to breakdown all of the qualities and charges for your advantage.
Benefits of Plus500 and HYCM Compared
Plus500 has a minimum deposit of $100 while HYCM offers a $100 minimum deposit.
Why smaller minimum deposits are good and how Plus500 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.
Plus500 has around 2,000 financial instruments whilst HYCM has around 2,000 available.
The more financial instruments you can trade on the Plus500 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 seriously do not want to miss out on a trading opportunity due to the limitations of Plus500 or HYCM.
Plus500 and HYCM Contact Details
Being able to contact a broker through many ways is vital. Plus500 and HYCM have the following contact details and social medias that you can use.
Broker | Plus500 | HYCM |
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Telephone Number | +972 4-818-9503 | +44 20 8816 7812 |
support@hycm.com | ||
Address | Bldg 25 Matam, Haifa, Haifa, Israel | 3rd Floor, 28 Throgmorton St, London, Greater London EC2N 2AN |
Plus500 Twitter Account | HYCM Twitter Account | |
Plus500 Facebook Page | HYCM Facebook Page | |
Plus500 Instagram Account | HYCM Instagram Account | |
Plus500 LinkedIn Page | HYCM LinkedIn Page | |
YouTube | Plus500 YouTube Channel | HYCM YouTube Channel |
Find Out More |
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HYCM and Plus500 Mobile App Comparison
As more and more traders and investors use their smartphones for trading, it is increasingly important that brokers offer easy-to-use apps that can deliver the same services as desktop platforms.
In this part of our comparison of Plus500 and HYCM we'll check whether either of their mobile apps tick all the boxes.
We rate overall the user-friendliness of the 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
Although most brokers do OK in this area, there are some bad apples out there. 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 have only traded US stocks, and you start typing 'Apple', will the software show you either the obscure Irish stock Applegreen or the Apple stock?
Plus500 vs HYCM - Awards
Broker | Plus500 | HYCM |
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Awards |
Plus500 have won numerous industry awards over the years they have been operating as a financial broker. We show the most notable awards for Plus500 below.
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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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Plus500 vs HYCM - Frequently Asked Questions
Plus500 vs HYCM - Headquarters And Year Of Founding
Plus500 was founded in 2008 and has its head office in Israel.
HYCM was founded in 1977 and has its head office in UK.
What is the minimum deposit for HYCM or Plus500
The minimum deposit for Plus500 is $100.
The minimum deposit for HYCM is $100.
Depending on your circumstances, a lower minimum deposit can be beneficial. If you are experienced with forex trading but are looking for a change then both Plus500 and HYCM are a good option.
Plus500 vs HYCM - Regulation And Licencing In More Detail
Plus500 is regulated by Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546.
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 Plus500 and HYCM have a powerful collection of rules for ensuring fair trading on their own platforms. For data encryption purposes, they supply industry-standard secure socket layers (SSL).
In accordance with their own privacy regulations, customer information is to not be shared with any other institutions or individuals. Including credit history and other financial information.
Compare Plus500 vs HYCM Commission And Fees
Plus500 and HYCM are online brokerage platforms, and many online brokerages charge lower prices than traditional brokerages tend to charge. The reason for this is that the businesses of online trading platforms are scaled much better. That is, an online broker isn't necessarily influenced by the number of clients they have.
But this doesn't mean that online brokers don't charge any fees. They charge prices of varying rates for various services to make money. There are primarily 3 types of fees for this objective.
The first sort of fees to keep an eye out for are trading charges. Whenever you make a genuine trade, like purchasing a stock or an ETF, you're billed trading charges. In these cases, you're paying a spread, financing speed, or even a commission. The kinds of trading fees and the rates vary from broker to broker.
Commissions can be fixed or dependent on the traded volume. On the other hand, a spread refers to the difference between the buying and selling price. Funding or overnight prices are those who are charged when you maintain a leveraged position for more than daily.
Aside from trading charges, online agents also charge non-trading fees. These are determined by the activities you undertake in your account. They are charged for operations like depositing cash, not investing for long periods, or withdrawals.
Generally, neither Plus500 or HYCM charge high fees compared to other online brokers. For operations other brokers fee for, they do not charge a brokerage fee, or they charge a smaller sum. This can be beneficial for people who regularly trade, such as weekly or daily trading.
However, non-trading fees charged by Plus500 and HYCM are comparatively lower. Consequently, you're charged more for non-trading activities on your trading account, such as deposits and withdrawal. These are not related to the purchase and sale of assets.
This Plus500 vs HYCM review for 2024 breaks down each of the relevant non-trading fees for you in detail.
Compare Broker Fees For Plus500 And HYCM
What Languages Do Plus500 And HYCM Support?
Being able to talk completely with your trading broker is a key way of comparing trading platforms to find the best trading partner. Not only for support but to be sure you understand everything on their site and inside their application as it is a key factor to success when trading online.
Here you can find all the languages that both Plus500 and HYCM support.
How Many Clients Do Plus500 and HYCM Have?
Both Plus500 and HYCM are well established with their client base. It is important to work with an online broker that is professional and one of the easiest ways of establishing this is by knowing how many clients are using their services.
Below you will find details of how many users Plus500 and HYCM are active on their platform
What Payment Methods Do Plus500 and HYCM Accept?
Plus500 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 Plus500 and HYCM
What Can You Trade With Plus500 and HYCM?
Plus500 offers 2,000 trading instruments and HYCM offers 100.
Below you will find a full breakdown of what both Plus500 and HYCM offer.
Plus500 Review
Plus500 vs HYCM:
Table Of Contents
- Compare Plus500 vs HYCM
- Benefits of Plus500 and HYCM Compared
- HYCM and Plus500 Mobile App Comparison
- Plus500 vs HYCM - Awards
- Plus500 vs HYCM - Frequently Asked Questions
- What is the minimum deposit for HYCM or Plus500
- Plus500 vs HYCM - Regulation And Licencing In More Detail
- Compare Broker Fees For Plus500 And HYCM
- What Languages Do Plus500 And HYCM Support?
- How Many Clients Do Plus500 and HYCM Have?
- What Payment Methods Do Plus500 and HYCM Accept?
- What Can You Trade With Plus500 and HYCM?