Home Brokers comparison Plus500 vs. HYCM

Plus500 vs. HYCM

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Plus500 and Henyep Markets (HYCM) are leading online brokers. Plus500 has a transparent fee structure and funding process. It has top-tier licenses from the FCA, MAS, and ASIC. We recommend it for experienced traders, as it has limited research and learning tools. 

Broker NamePlus500HYCM
Year Founded20081997
RegulationFCA, ASIC, CySEC, FSCA, FMA, MAS, FSACySEC, FCA, CIMA, DFSA
Tradable AssetsForex, Commodities, Individual shares, ETFs, Options, Cryptocurrencies.Forex, CFD, Cryptocurrency
Min Deposit$100$100
Min Trade$0$0
PlatformsWeb, MobileMT4, MT5
DepositFree of charge$100
WithdrawalsFree of chargeFree of charge

HYCM is a MetaTrader broker with expensive fees. We do not recommend HYCM for active traders. However, it offers reliable research and education tools. HYCM is a good choice for beginner traders, as it has webinars and beginner trading videos. 

Both online brokers have advantages and disadvantages. This article discusses the differences between Plus500 and HYCM. 

Top findings from the Plus500 vs. HYCM review:  

  1. Plus500 is a safe broker with professional platforms and transparent fees. 
  1. HYCM offers access to the full MetaTrader suite for desktop and web. 
  1. Both brokers offer a virtual trading account to test their offering. 

Plus500 is a good choice for professional traders, as it has reliable trading platforms and tools. We recommend HYCM for traders of all levels of experience because of its educational tools and tutorials. 

Overall Rating

FeaturePlus500HYCM
Overall43.5
Commissions & Fees43.5
Offering of Investments43
Platforms & Tools43.5
Mobile Trading43.5
Research33.5
Education33.5
Trust Score9884
WinnerYES
72% of retail CFD accounts lose money71% of retail CFD accounts lose money

Level of experience  

Beginner traders prefer HYCM over Plus500. HYCM offers user-friendly research and educational tools. These include beginner trading videos, webinars, and investor dictionaries. HYCM has professional research tools and access to MT4 and MT5 features. It is a good choice for both beginner and professional traders. 

Plus500 doesn’t have educational tools for its clients. It is a good choice for professional traders, as it has premium platforms and tools. It offers some helpful trading tools, including watch lists and an economic calendar. Plus500 provides a premium trading experience for professional investors. 

Fees  

Plus500 has a minimum initial deposit of €100, while HYCM has a $100 fee. The average EUR/USD spread at Plus500 is 0.6, while at HYCM is 2. Both brokers have a transparent fee structure. 

Assets  

Both online brokers offer major forex currency pairs, including EUR/USD and GBP/USD. HYCM has 69 pairs, while Plus500 has 50 available pairs. Plus500 offers 2033 CFDs, while HYCM has 278 available CFDs. 

Trading platform  

Plus500 has a premium proprietary platform with web and desktop versions. It provides some educational materials and research tools. Plus500 has an impressive mobile app with standard alerts and watch lists. Its platforms are challenging to learn for new traders. 

HYCM is a MetaTrader-only broker with a separate platform for its Hong Kong and China securities offering. It offers a virtual trading account and social trading tools. HYCM has an education section on its website with courses, videos, and written content. It is a good choice for traders of all levels of experience. 

Banking services  

Banking services lead to an excellent online trading experience. Plus500 is on the London stock exchange, which increases its trustworthiness. It offers many funding options, including bank transfers, PayPal, Skrill, and credit/debit cards. HYCM has bank transfers, credit/debit, and Skrill funding options. 

Final verdict  

Plus500 and HYCM are leading online brokers. Both have strengths and weaknesses, depending on your trading experience. We recommend Plus500 to professional traders who want access to premium platforms. HYCM is a better choice for beginners, as it has a dedicated learning center. 


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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