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.
|Regulation||FCA, ASIC, CySEC, FSCA, FMA, MAS, FSA||CySEC, FCA, CIMA, DFSA|
|Tradable Assets||Forex, Commodities, Individual shares, ETFs, Options, Cryptocurrencies.||Forex, CFD, Cryptocurrency|
|Platforms||Web, Mobile||MT4, MT5|
|Deposit||Free of charge||$100|
|Withdrawals||Free of charge||Free 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:
- Plus500 is a safe broker with professional platforms and transparent fees.
- HYCM offers access to the full MetaTrader suite for desktop and web.
- 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.
|Commissions & Fees||4||3.5|
|Offering of Investments||4||3|
|Platforms & Tools||4||3.5|
|72% of retail CFD accounts lose money||71% 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.
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.
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.
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 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.
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.
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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.