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Interactive Brokers vs. HYCM

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Interactive Brokers and Henyep Markets (HYCM) are top brokerage firms. Interactive Brokers is a safe broker with licenses from the FINMA, IIROC, FCA, MAS, FSA, SFC, and CFTC. It offers a proprietary platform and a premium app with a virtual trading account. This broker is an excellent choice for professionals because of its premium services. 

HYCM is a well-established MetaTrader broker with an expensive fee structure. We do not recommend it for active traders. It has limited research and education tools. HYCM is a good fit for new traders, as it has beginner trading videos and webinars. 

Both brokerage firms have strengths and weaknesses. This article discusses the differences between Interactive Brokers and HYCM. 

Broker NameInteractive BrokersHYCM
Year Founded19781997
RegulationSEC (USA), FCA (UK)CySEC, FCA, CIMA, DFSA
Tradable AssetsStock, ETF, Forex, Fund, Bond, Options, Futures,
CFD, Crypto, Warrants, Structured Products
Forex, CFD, Cryptocurrency
Min Deposit$0$100
Min Trade$0$0
PlatformsTraders Workstation (TWS)MT4, MT5
DepositYou can open account without deposit$100
WithdrawalsFree of charge for the first withdrawal in calendar monthFree of charge

 

 

Top findings from the Interactive Brokers vs. HYCM review:  

  1. Interactive Brokers is a top online broker with professional tools and platforms. 
  1. HYCM is a premium broker with access to the full MetaTrader suite. 
  1. Both brokers offer premium services and a demo account to test their offering. 

Interactive Brokers is a good fit for professional investors because of its premium tools and services. We recommend HYCM to traders at all levels because of its tutorials and educational tools. 

Overall Rating

FeatureInteractive BrokersHYCM
Overall4.53.5
Commissions & Fees4.53.5
Offering of Investments53
Platforms & Tools4.53.5
Mobile Trading43.5
Research4.53.5
Education43.5
Trust Score9484
WinnerYES 
 66% of retail CFD accounts lose money72% of retail CFD accounts lose money

Level of experience  

Professional and active traders prefer Interactive Brokers over HYCM. It offers robust research tools, including forex news and Trading Central. This broker has practical learning materials, including webinars. Interactive Brokers offers premium platforms and tools, which is why it’s a top choice for advanced investors. 

HYCM has user-friendly educational and research materials. These include investor dictionaries, webinars, and trading videos. HYCM has professional trading tools and access to MT4 and MT5. 

Fees  

The minimum initial deposit at HYCM is $100, while Interactive Brokers doesn’t charge a fee. Both brokers follow a transparent fee structure. 

Assets  

Interactive Brokers offers 105 forex currency pairs, while HYCM has 69 available pairs. Interactive Brokers has 7400 CFDs, while HYCM provides access to 278 CFDs. 

Trading platform  

Interactive Brokers offers a premium trading experience with desktop and web platforms. It offers some useful educational materials, including advanced trading videos. We recommend it for professionals, as its platforms follow the industry’s highest standards. 

HYCM is a MetaTrader-only broker with a separate platform for its Hong Kong and China securities offering. It has a demo account and social trading services. HYCM offers an education portal with training videos and trading courses. 

Banking services  

Banking services support a good online trading experience. Interactive Brokers offers as its funding option bank transfers. HYCM has bank transfers, credit/debit cards, and Skrill. 

Final verdict  

Interactive Brokers and HYCM are top brokerage firms. Both have advantages and disadvantages depending on your trading needs, skills, and experience. Interactive Brokers is a good fit for professionals. We recommend HYCM for beginners as it has a reliable learning center.   

Interactive Brokers compared to other brokers:


Methodology 

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.

Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

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