HYCM vs. FXOpen

Compare their range of markets, trading platforms, deposit and withdrawal methods, and much more.

Pros and Cons

HYCM

85% of retail CFD accounts lose money

  • Pros
  • Trade on MetaTrader 4 or MetaTrader 5.
  • Account base currencies: USD, EUR, GBP, AUD, RUB.
  • Negative balance protection for all customers.
  • Regulated by FCA, CySEC, DFSA and CIMA.
  • Cons
  • You cannot buy shares or cryptocurrency (only CFDs).
  • Scalping is not allowed.
  • No copy trading platform.
  • Monthly inactivity fee after 90 days.
  • Awards
  • Best Forex Trading Platform Middle East, 2019
  • Best Forex Broker Middle East, 2018
  • Best Forex Broker Europe, 2018
FXOpen

  • Pros
  • Leverage up to 1:500.
  • Trade on MetaTrader 4, 5 or TickTrader.
  • All trading strategies allowed (ECN account).
  • Account base currencies: USD, AUD, CHF, EUR, GBP, JPY, RUB, SGD, mBTC.
  • Cons
  • Withdrawal fees between 2.5% and 8.25% (depending on your deposit method), if you request a withdrawal before meeting minimum notional trading volume requirements.
  • FXOpen is only regulated in Nevis.
  • Awards
  • High-quality order execution, 2018 - VerifyMyTrade
  • Best Forex Broker Australia, 2011 - World Finance
  • Best Trading Platform, 2010 - Falcon Award

Markets

Asset classesHYCM ▷FXOpen ▷
Forex (CFD)
Cryptos (CFD)
Stocks (CFD)
Indices (CFD)
ETFs (CFD)NA
Metals (CFD)
Energy (CFD)
Commodities (CFD)NA
Asset classes (#)HYCM ▷FXOpen ▷
Forex (CFD)6951
Cryptos (CFD)6443
Stocks (CFD)150100
Indices (CFD)2810
Metals (CFD)92
Energy (CFD)43
Commodities (CFD)4NA

Trading platforms

Trading platformsHYCM ▷FXOpen ▷
MetaTrader 4
MetaTrader 5
cTrader
Currenex
Copy trading
Mirror trading
Other platformsHYCM WebTraderTickTrader
Operating systemsHYCM ▷FXOpen ▷
Web trader
Android
iOS

Account funding

Deposits and withdrawalsHYCM ▷FXOpen ▷
Bank transfer
Credit card
Debit card
BitcoinNA
China UnionPayNA
DixiPayNA
FasaPayNA
NETELLERNA
Perfect MoneyNA
QIWI WalletNA
Skrill
SorexPayNA
WebMoney
Yandex.MoneyNA
Account base currenciesHYCM ▷FXOpen ▷
AED - UAE DirhamNA
AUD - Australian DollarNA
CHF - Swiss FrancNA
CNY - Chinese YuanNA
EUR - Euro
GBP - British Pound
JPY - Japanese YenNA
RUB - Russian Rouble
SGD - Singapore DollarNA
USD - U.S. Dollar

Regulators

Company informationHYCM ▷FXOpen ▷
Company nameHenyep Capital Markets (UK) LimitedFXOpen NZ Limited
Head officeLondon, UKAuckland, New Zealand
Incorporation date19772005
RegulatorsHYCM ▷FXOpen ▷
AustraliaNAAFSL No. 412871
CySECCySEC No. 259/14NA
NevisNANevis No. C 42235
UKFCA No. 186171FCA No. 579202

HYCM

85% of retail CFD accounts lose money