eToro vs HYCM, Who's The Best?
Read our In-Depth eToro vs HYCM Review - 2022 Update
This eToro vs HYCM review has been updated for 2022 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 eToro vs HYCM review does not apply to all countries as follows:
eToro Excluded Countries
Iran, Democratic Peoples Republic of Korea, Belgium, Canada, Japan, Syrian Arab Republic, Turkey, Israel, Belarus, Albania, Republic of Moldova, North Macedonia, Serbia, Guinea, Democratic Republic of the Congo, Sudan, Zimbabwe, Ethiopia, Ghana, Tanzania, Libya, Uganda, Zambia, Botswana, Rwanda, Tunisia, Somalia, Namibia, Togo, Sierra Leone, Liberia, Gambia, Djibouti, Ivory Coast, Pakistan, Brunei Darussalam, Taiwan, Province of China, Samoa, Nepal, Singapore, US Virgin Islands, Turkmenistan, Tajikistan, Uzbekistan, Sri Lanka, Trinidad and Tobago, Haiti, Myanmar, Bhutan, Marshall Islands, Maldives, Kazakhstan, Grenada, Fiji, Barbados, Bermuda, Bahamas, Antigua and Barbuda, Anguilla, Aruba, Lebanon, El Salvador, United States of America, Paraguay, Honduras, Guatemala, Puerto Rico, Nicaragua, British Virgin Islands, and Netherlands Antilles.
HYCM Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
Compare eToro vs HYCM
Every online trading platform will have some ups and downs, and no eToro and HYCM review would be complete without showing both sides. Compare eToro 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 a broker and are choosing between eToro or HYCM. Who should you choose?
Our eToro vs HYCM comparison contains the most recent information so you can easily compare HYCM against eToro.
If you're a new entrant in the world of trading and brokerages, so many facts will be perplexing for you. Getting into the area of trading requires expert assessing skills and thorough understanding. You'll acquire adept at all of the concepts of brokerage as you keep trading. For starters, you need to select the ideal broker who'll be clear with you constantly.
Within this fast-paced universe of stock markets and trading, you will need advice to make proper decisions. A professionally direct investment plan has the potential to create hefty returns. eToro and HYCM are two such trading platforms that will take you and your investment to great heights. It's important to compare eToro vs HYCM before you trust them with your cash.
Our eToro vs HYCM comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust eToro and HYCM side by side.
Our full eToro vs HYCM Review covers everything you will need to learn about trading using either eToro or HYCM. A good agent can multiply your initial investments and give you favorable profits. If you want to make profits, you should trade with a brokerage service that contrasts with your investment objectives.
There's absolutely no sure-fire method to guarantee profits; therefore, you should carefully assess your broker before you choose them. It is a frequent misconception that all agents are the same, but that is not true. Wrong judgment, in the beginning, can set your investments in danger.
eToro and HYCM are both brokers which have paved their way successfully into the brokerage world. Within this review, we have tried to collate some of the important aspects of both eToro and HYCM. This review can help you to understand whether either HYCM or eToro is a fantastic match for your own investments or not. We have attempted to breakdown all of the qualities and fees for your convenience.
Benefits of eToro and HYCM Compared
eToro offers a minimum deposit of $50 while HYCM offers a $100 minimum deposit.
Why smaller minimum deposits are good and how eToro 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.
eToro allows you to trade around 100 financial instruments whilst HYCM allows you to trade around 100 financial instruments available.
The more instruments you can trade on the eToro 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 eToro or HYCM.
eToro and HYCM Contact Details
Being able to contact your broker through many ways is vital. eToro and HYCM have the following contact details and social medias that you can use.
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| Broker | eToro | HYCM |
| Telephone Number | +44 20 8816 7812 | |
| support@etoro.com | support@hycm.com | |
| Address | 24th floor, One Canada Square, Canary Wharf, London, E14 5AB | 3rd Floor, 28 Throgmorton St, London, Greater London EC2N 2AN |
| eToro Twitter Account | HYCM Twitter Account | |
| eToro Facebook Page | HYCM Facebook Page | |
| eToro Instagram Account | HYCM Instagram Account | |
| eToro LinkedIn Page | HYCM LinkedIn Page | |
| YouTube | eToro YouTube Channel | HYCM YouTube Channel |
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HYCM and eToro 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 eToro and HYCM we'll check whether either of their mobile apps tick all the boxes.
Overall, we rate the user-friendliness of both apps as better than average.
It is important that any trading app has user friendly capabilities especially with the
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?
eToro vs HYCM - Awards
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| Broker | eToro | HYCM |
| Awards |
eToro have won several industry awards over the time they have been operating as an online broker. We detail the most notable awards for eToro 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. |
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eToro vs HYCM - Frequently Asked Questions
eToro vs HYCM - Headquarters And Year Of Founding
eToro was founded in 2007 and has its head office in Cyprus, UK.
HYCM was founded in 1977 and has its headquaters in UK.
What is the minimum deposit for HYCM or eToro
The minimum deposit for eToro is $50.
The minimum deposit for HYCM is $100.
Depending on your current situation, a lower minimum deposit can be beneficial. If you are experienced with forex trading but are looking for a change then both eToro and HYCM are a good choice.
eToro vs HYCM - Regulation And Licencing In More Detail
eToro is regulated by Financial Conduct Authority (FCA), 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 eToro and HYCM have a strong collection of rules for ensuring honest trading on their platforms. For data encryption purposes, they supply industry-standard secure socket layers (SSL).
In accordance with their privacy policies, client information is to not be shared with any other institutions or individuals. This includes credit history and other financial information.
Compare eToro vs HYCM Commission And Fees
eToro and HYCM are online brokerage platforms, and many online brokerages charge lower fees than traditional brokerages tend to charge. The reason for this is that the companies of online trading platforms are scaled better. In other words, an online broker isn't necessarily affected by the amount of customers they have.
However, this does not mean that online brokers do not charge any fees. They charge prices of varying rates for a variety of services to make money. There are primarily three types of fees for this purpose.
The first kind of fees to look out for are trading fees. When you make an actual trade, like buying a stock or an ETF, you are charged trading charges. In these instances, you're paying a spread, funding speed, or a commission. The sorts of trading fees and the rates differ from broker to broker.
Commissions could be fixed or dependent on the traded quantity. On the other hand, a spread refers to the difference between the buying and selling cost. Funding or overnight rates are those that are billed when you maintain a leveraged position for longer than daily.
Apart from trading charges, online agents also charge non-trading fees. These are dependent on the actions you undertake on your account. They are billed for operations like depositing cash, not trading for lengthy periods, or withdrawals.
Generally, neither eToro or HYCM charge high fees in comparison to other online agents. For operations other agents fee for, they either do not charge a brokerage fee, or they charge a smaller sum. This is beneficial for people who often trade, for example weekly or daily trading.
But, non-trading fees billed by eToro and HYCM are comparatively higher. As a result, you're charged more for non-trading activities in your trading accounts, like withdrawal and deposits. These are not related to the purchase and sale of resources.
This eToro vs HYCM review for 2022 breaks down each of the applicable non-trading fees for you in detail.
Compare Broker Fees For eToro And HYCM
What Languages Do eToro And HYCM Support?
Being able to communicate easily with your online broker is a key way of comparing brokers to find the best trading partner. Not only for support but to ensure you understand everything on their website and inside their application as it is a key factor to success when trading forex.
Here you will find all the languages that both eToro and HYCM support.
How Many Clients Do eToro and HYCM Have?
Both eToro and HYCM are well known and trusted. It is really important to work with a broker you can trust and one of the most simple ways of establishing this is by knowing how many clients they already work with.
Below you will find details of how many customers eToro and HYCM have
What Payment Methods Do eToro and HYCM Accept?
eToro 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 eToro and HYCM
What Can You Trade With eToro and HYCM?
eToro offers 100 trading instruments while HYCM offers 100.
Below you will find a full breakdown of what both eToro and HYCM offer.
Compare eToro To All Other Brokers
Compare HYCM To All Other Brokers