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Do you want to know which is the better broker between XTB and HYCM ?
In the table below, you can compare the features of XTB , HYCM side by side to determine the best fit for your needs.
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of xtb, hycm lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Registered in | UK |
Regulated by | CYSEC, CNMV and FCA |
Year(s) of establishment | 10-15 years |
Trading instruments | Forex pairs, indices, commodities, stocks, ETFs |
Minimum Initial Deposit | $0 |
Maximum Leverage | 1:30 |
Minimum spread | 0.35 pips onwards |
Trading platform | x Station 5 and x Station Mobile trading platforms |
Deposit and withdrawal method | bank transfers, credit cards and Skrill |
Customer Service | Email/phone number/address |
Fraud Complaints Exposure | Yes |
It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.
Pros:
XTB is regulated by top-tier authorities such as CYSEC, CNMV and FCA, which ensures the safety of client funds and compliance with industry standards.
Clients can enjoy commission-free trading with spreads as low as 0.25 pips, making it a cost-effective option for forex traders.
The xStation 5 and xStation Mobile platforms provide a user-friendly and advanced trading experience, with multiple technical analysis tools and charting options.
A wide range of educational resources is available, such as market news, sentiment indicators, and eBooks, making it ideal for beginner traders who want to improve their trading skills.
Cons:
XTB only offers a standard account type, with no information provided about the minimum deposit required to open an account.
The maximum leverage offered is only up to 1:30, which may not be ideal for high-risk traders who want to take larger positions in the market.
Withdrawals of less than 100 USD, 80 EUR, 60 GBP or 12000 HUF will be charged a high fee, which can be a disadvantage for clients with smaller accounts.
Customer support is not available 24/7 and is only offered in a limited number of languages.
Advantages | Disadvantages |
XTB offers tight spreads and fast execution due to its Market Making model. | As a counterparty to its clients' trades, XTB has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients. |
XTB is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, XTB acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that XTB has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with XTB or any other MM broker.
XTB is a UK registered online forex and CFD broker that is regulated by the FCA, CYSEC, and CNMV. The company offers trading in a range of financial instruments including forex pairs, indices, commodities, stocks, and ETFs. XTB provides its clients with advanced trading platforms, educational resources, and a variety of payment methods. The broker also offers competitive spreads with zero commissions and has a maximum leverage of 1:30.
In the following article, we will analyse the characteristics of this broker in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.
Advantages | Disadvantages |
Wide range of tradable assets | Limited selection of cryptocurrencies |
Opportunity to diversify | Some instruments may have low liquidity |
Access to multiple markets | Not all assets may be available in all regions |
XTB offers a diverse range of instruments for traders to choose from, including forex pairs, indices, commodities, stocks, and ETFs. This presents a great opportunity for traders to diversify their portfolio and access multiple markets all within one platform. The wide selection of tradable assets ensures that there are plenty of options available for traders with varying strategies and preferences. However, it's important to note that some of the instruments may have low liquidity and there is a limited selection of cryptocurrencies available. Additionally, not all of the assets may be available in all regions, which could limit access for some traders. Overall, XTB's instrument dimension provides traders with a comprehensive selection of tradable assets, but it's important to research each asset's liquidity and availability before trading.
Advantages | Disadvantages |
Zero commission | |
Competitive spreads starting from 0.25 pips | |
No hidden fees or additional charges |
XTB offers a single account type with zero commission and competitive spreads starting from 0.25 pips, making it an attractive option for traders looking for low trading costs. There are no hidden fees or additional charges, providing transparency and ease of understanding for traders.
Advantages | Disadvantages |
No commission | Only one account type |
Low spreads | Minimum deposit not revealed |
Wide range of trading instruments |
XTB offers only one standard account type, which doesn't charge any commission and offers competitive spreads from 0.35 pips. This account type also provides access to a wide range of trading instruments, including forex pairs, indices, commodities, stocks, and ETFs. However, the minimum deposit requirement for this account type is not revealed, which can be a disadvantage for traders who are looking for transparency in terms of account funding. Additionally, the lack of account type options might not suit the needs of more advanced traders who require different trading conditions or access to additional features. Overall, the account type provided by XTB has its benefits in terms of low costs and diverse trading instruments, but it might not be suitable for all types of traders.
Advantages | Disadvantages |
Advanced charting tools | Limited platform options |
Customizable interface | Limited mobile app features |
Fast execution speed | No third-party platform support |
One-click trading |
X-Trade Brokers (XTB) provides its clients with two main trading platforms - xStation 5 and xStation Mobile. xStation 5 is a highly advanced platform with a customizable interface and advanced charting tools. The platform also offers fast execution speeds and one-click trading functionality. On the other hand, the xStation Mobile platform offers limited features compared to the desktop version. The mobile platform lacks advanced charting tools and other important features, limiting its functionality for traders who prefer to trade on-the-go. Additionally, XTB only offers its proprietary platforms and does not support any third-party trading platforms, which could be a disadvantage for some traders.
You can watch their video tutorial about this platform on their official YouTube channel.
Advantages | Disadvantages |
Allows for greater market exposure with a smaller initial investment | High leverage can lead to substantial losses if not managed properly |
Provides potential for higher returns | Trading with high leverage increases the risk of margin calls |
Enables traders to diversify their portfolio | Not suitable for all types of traders, especially beginners |
Allows for more flexibility in trading strategies | May require higher margin requirements and affect trading profitability |
XTB offers a maximum leverage of up to 1:30 which is a standard leverage amount in the industry, especially in the European Union. The maximum leverage allows traders to increase their market exposure with a smaller initial investment and has the potential to generate higher returns. However, traders need to be aware that high leverage also carries a higher risk of substantial losses, and should only be used by experienced traders who have a good understanding of risk management strategies. Moreover, it may not be suitable for all types of traders, especially beginners who may find it difficult to manage the increased risk. Overall, the maximum leverage offered by XTB can be beneficial for traders who have experience in managing risk and are comfortable with high leverage trading.
Advantages | Disadvantages |
Multiple deposit methods | High fee for withdrawals smaller than specified limit |
No fees for deposits | Limited number of withdrawal methods |
Fast deposit processing | Withdrawals may take up to 3 business days |
Secure transactions | Minimum deposit amount not disclosed |
No hidden charges |
XTB offers a range of deposit methods including bank transfers, credit cards and Skrill. They do not charge any fees for deposits and process them quickly. However, withdrawals smaller than 100USD, 80 EUR, 60 GBP or 12000 HUF will be charged a high fee of around 20USD/16EUR/12GBP. The number of withdrawal methods is limited, and withdrawals may take up to 3 business days. XTB ensures secure transactions and does not have any hidden charges. However, the minimum deposit amount is not disclosed.
Advantages | Disadvantages |
Wide range of educational resources including economic calendar, market news, articles, eBooks, and more | Some resources may be basic and not useful for experienced traders |
Free to access | Limited interaction and personalization with educational resources |
Provides opportunities for traders to improve their trading skills and knowledge | No structured or formal education programs offered |
Regularly updated with the latest market news and analysis | No physical or in-person educational events or seminars offered |
Offers a demo account for traders to practice their skills and strategies before trading with real money |
XTB provides a wide range of educational resources for traders to improve their trading skills and knowledge. These resources include an economic calendar, market news, market sentiment, articles, eBooks, and more. These resources are free to access and provide opportunities for traders to improve their trading strategies and knowledge. The platform also offers a demo account for traders to practice their skills and strategies before trading with real money. While some resources may be basic and not useful for experienced traders, XTB regularly updates their resources with the latest market news and analysis. However, there are no structured or formal education programs or physical/in-person events or seminars offered, and there is limited interaction and personalization with educational resources.
Advantages | Disadvantages |
24/5 customer support | No 24/7 customer support |
Multiple contact options | |
Dedicated account opening line | No live chat support |
UK and Poland-based offices |
XTB offers multiple customer support options, including 24/5 customer service through their UK and Poland-based offices. Clients can reach XTB's customer support team through various contact methods such as email, phone, and online messaging. Additionally, the company provides dedicated account opening lines for new clients. However, it is important to note that XTB does not offer 24/7 customer support, and phone support may be limited. Moreover, the company does not offer live chat support and email support may also be limited.
Overall, XTB is a well-regulated and reputable forex broker with several years of experience in the industry. The company offers a wide range of tradable assets, competitive spreads, and a user-friendly trading platform with advanced features. The educational resources provided by XTB are also a valuable asset for both novice and experienced traders. However, the limited account options and high withdrawal fees for small amounts may be a disadvantage for some traders. The customer support offered by XTB is efficient and available 24/5, and the company has a physical presence in several locations around the world. The maximum leverage offered by XTB is limited to 1:30, which may not be suitable for some high-risk traders. Overall, XTB is a solid choice for traders looking for a regulated and reliable forex broker.
What are the trading instruments available at XTB?
Answer: XTB offers forex pairs, indices, commodities, stocks, and ETFs.
What type of account is available at XTB?
Answer: XTB only offers a standard account with a minimum deposit not revealed.
What is the maximum leverage offered by XTB?
Answer: XTB offers a maximum leverage of up to 1:30.
What are the deposit and withdrawal methods available at XTB?
Answer: XTB offers bank transfers, credit cards, and Skrill for deposits and withdrawals.
What are the fees associated with withdrawals at XTB?
Answer: Withdrawals smaller than 100 USD, 80 EUR, 60 GBP, or 12000 HUF will be charged a high fee of around 20 USD/16 EUR/12 GBP.
What trading platforms are available at XTB?
Answer: XTB offers the x Station 5 and x Station Mobile trading platforms.
What educational resources are available at XTB?
Answer: XTB provides a series of educational resources such as economic calendar, market news, market sentiment, articles, eBooks, and more.
Is XTB regulated?
Answer: XTB is under multiple regulation, including CYSEC, FCA, and CNMV.
Does XTB offer a demo account?
Answer: Yes, XTB offers demo accounts.
Does XTB charges commission?
Answer: No, XTB provides a commission-free trading.
What is the minimum deposit for XTB?
Answer: XTB requires $250 for clients t trade with it.
What is the difference between a demo and a live trading account?
Answer: A demo account is an account funded with virtual money that allows for risk-free trading while a live trading account requires actual capital.
What is the overall rating for XTB ?
Answer: The overall rating for XTB is 6.63/10 based on its Regulatory index, Risk Management index, Software index, Business index, License Index.
Registered in | United Kingdom |
Regulatory status | FCA of the United Kingdom, CYSEC of Cyprus and CIMA of the Cayman Islands |
Year(s) of incorporation | more than 40 years |
Market instruments | more than 40 currency pairs, precious metals, commodities, indices, stocks and cryptocurrencies |
Minimum initial deposit | $100 y $200 |
Maximum leverage | 1:500 |
Minimum spread | From 0.1 pips |
Trading platform | MT4, MT5 |
Deposit and withdrawal methods | bank transfers, credit and debit cards, Neteller, Skrill, perfect Money, etc. |
Customer Service | E-mail/phone number |
Fraud allegations | Not yet |
It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.
Pros:
- Wide range of financial instruments available for trading.
- MT4 and MT5 trading platforms available, as well as a proprietary platform called PrimeTrader.
- A free demo account is available for traders to practice without risking their real money.
- Multilingual customer service available 24 hours a day, 5 days a week.
- HYCM offers an Islamic account for traders who require an interest-free account.
- Regulation by the FCA of the United Kingdom, CYSEC of Cyprus and CIMA of the Cayman Islands.
Cons:
- The minimum deposit of $100 may be high for some traders.
- The company does not accept traders from the United States.
Advantages | Disadvantages |
Registered and regulated by the FCA of the United Kingdom, CYSEC of Cyprus and CIMA of the Cayman Islands. | Registration and regulation in multiple jurisdictions can increase compliance complexity and costs |
A track record of more than 40 years on the market | Traders may prefer brokers that focus exclusively on the foreign exchange market, rather than offering a range of financial products. |
FCA and CYSEC regulation provides additional investor protection | Regulation does not guarantee security of funds and traders must do their own due diligence |
Compliance with regulatory requirements can increase transparency and accountability | Regulation may limit certain operations and trading strategies |
HYCM is a UK-registered forex broker and regulated by the Financial Conduct Authority (FCA), the Cyprus Securities Commission (CYSEC) and the Cayman Islands Monetary Authority (CIMA). With a track record of over 40 years in the market, HYCM has established itself as a leading broker in the foreign exchange trading industry.
In the following article, we will analyze the characteristics of this broker in all its dimensions, offering you easy and well-organized information. If you are interested, read on.
HYCM is regulated by three major financial regulatory bodies: the Financial Conduct Authority (FCA) of the United Kingdom, the Cyprus Securities and Exchange Commission (CySEC) and the Cayman Islands Monetary Authority (CIMA). They are all globally recognized regulators and have a high reputation in the financial industry. The FCA is known to be one of the strictest and most demanding regulators in the world, and its regulation is considered to be one of the most rigorous and reliable in terms of customer protection. On the other hand, CySEC is the financial services regulatory authority in Cyprus, a country known for its attractive regulatory and tax environment for investment firms. And finally, CIMA is the financial regulator for the Cayman Islands, a British overseas territory. Together, these three regulations offer strong customer protection and increased security for financial transactions conducted through HYCM.
Advantages | Disadvantages |
Offers more stable and fixed spreads | There may be a conflict of interest with customers |
Can offer faster execution | Prices may be less transparent |
Can provide greater flexibility in terms of leverage | There may be a risk of re-quoting |
Can offer protection against market volatility | There may be limitations in the trading strategy |
Offers a non-dealing desk account (Dealing Desk) | Prices may not reflect the true market |
HYCM is a Forex and CFD (Contracts for Difference) broker that offers access to a wide variety of financial markets through its online trading platform. As a broker, HYCM acts as an intermediary between its clients and the financial markets, allowing traders to buy and sell financial instruments without having to physically own them.
HYCM operates under a Dealing Desk, which means that bid and ask prices are set by the company itself. This can be beneficial for traders looking for more stable and fixed spreads, but it also means that HYCM may have a conflict of interest with its clients. To mitigate this risk, HYCM offers a Dealing Desk trading account, which allows traders to trade at direct market prices.
HYCM offers its clients a wide variety of trading instruments, which means that traders can trade in different markets and have a greater diversification of their portfolios. In terms of currency pairs, HYCM offers a selection of the major and most popular pairs, such as EUR/USD, USD/JPY, GBP/USD, and many others. In addition, traders can also trade a variety of precious metals, such as gold and silver, and commodities such as crude oil. A selection of indices is also offered, including the S&P 500, the FTSE 100 and the Nikkei 225. HYCM also offers its clients the possibility to trade stocks of some of the world's largest companies, such as Apple, Microsoft and Amazon. Finally, HYCM offers the option to trade cryptocurrencies, including Bitcoin, Ethereum and Litecoin. This means that traders can have access to some of the most volatile and exciting markets in the world, which can provide unique trading opportunities and potential profits.
1. HYCM charges variable spreads for its operations, which vary according to the type of account and trading instruments.
2. HYCM charges an inactivity fee of $10 per month after 3 months of account inactivity.
3. HYCM charges a commission of $4 per side for raw account transactions.
Advantages | Disadvantages |
Fixed Account: Offers floating spreads from 1.5 pips and does not charge commissions. | Spreads are less tight compared to the Raw account. |
Classic account: Offers spreads from 1.2 pips and does not charge commissions. | Spreads are less tight compared to the Raw account. |
Raw account: Offers spreads starting from 0.1 pips and charges a commission of $4 per lot traded. | It has a minimum deposit of $200, which can be inconvenient for traders who want to start with less capital. In addition, the commission can increase trading costs. |
Free demo account: Allows traders to practice and familiarize themselves with the trading platform before investing their real money. | There is no real risk involved in the demo account, which can make traders overconfident when trading with a live account. |
HYCM offers three types of trading accounts, with a minimum deposit of $100 for the classic/fixed account and $200 for the raw account. The available accounts are:
Fixed account: the Fixed account offers floating spreads starting from 1.5 pips, Min. position volume of 0.01 lot and allows trading more than 300 financial instruments, including currencies, commodities, indices and cryptocurrencies. In addition, a free demo account is offered for practice and learning, as well as an Islamic account.
Classic account: the classic account offers spreads starting from 1.2 pips and a commission of $0 per lot traded. The min. position volume is 0.01 lot and also allows trading of more than 300 financial instruments.
Raw account: the raw account offers spreads starting from 0.1 pips and a commission of $4 per lot traded. The main difference between the raw account and other accounts is that it has a minimum deposit of $200.
HYCM is also proud to offer a free demo account, allowing traders to practice and familiarize themselves with the trading platform before investing their real money.
HYCM's MT4 platform is one of the most popular and widely used in the world of online trading, with a large user base worldwide. With this platform, traders can access multiple technical analysis tools, customizable charts, technical indicators and expert advisors (EAs). In addition, traders can use the backtesting function to evaluate the effectiveness of their trading strategies and adjust them as needed.
On the other hand, HYCM also offers the MT5 platform for those who are looking for a more advanced trading platform. The MT5 platform is an enhanced version of MT4, with more advanced tools and features. The MT5 platform also offers the hedging function, which means that traders can simultaneously open long and short positions on the same instrument, which can be useful in certain trading strategies. In addition, MT5 also allows traders to access more markets and types of financial assets, including futures and options.
Advantages | Disadvantages |
Possibility of significantly increasing the potential benefits | Increased risk of loss |
Allows trading with a position of up to 500 times the initial capital. | Trading with high leverage can lead to rapid loss of funds |
It can be useful for experienced traders with well-defined strategies. | Can be dangerous for inexperienced traders or traders who do not manage risk well. |
Allows access to more markets and trading opportunities | It can generate a false sense of confidence and lead to over-operating. |
Allows trading large volumes with little capital | Good market knowledge and risk management are necessary for successful trading. |
HYCM offers a maximum leverage of 1:500 for currencies, which means that traders can trade with a position of up to 500 times their initial capital. This can significantly increase potential profits, but also increases the risk of losses.
Advantages | Disadvantages |
Wide variety of deposit and withdrawal options | Withdrawal processing times may vary depending on the payment method and the trader's banking institution. |
Low minimum deposit amount | |
No deposit or withdrawal fees | |
Fast processing of withdrawal requests |
HYCM offers a wide variety of deposit and withdrawal options, making it easy and convenient for traders to deposit and withdraw funds. Traders can make deposits using a variety of methods, including bank transfers, credit and debit cards, popular e-wallets such as Neteller and Skrill, and other online payment methods such as Perfect Money.
The minimum deposit amount is only $20, which is an advantage for those who wish to try HYCM without having to deposit large sums of money. In addition, HYCM does not charge any deposit fees, which means that traders can deposit any amount they wish without worrying about additional charges.
When it comes to withdrawals, HYCM processes withdrawal requests within 24 hours for some payment methods, which is a fast processing time compared to other brokers. Traders can withdraw funds using the same payment methods used to make deposits. There are no withdrawal fees at HYCM, which means that traders can withdraw their profits without having to worry about additional costs.
It is important to note that withdrawal processing times may vary depending on the payment method and the trader's banking institution. HYCM strives to process all withdrawal requests as quickly as possible, but there are factors beyond its control that may affect processing time. Overall, HYCM offers a wide variety of deposit and withdrawal options, as well as fast processing times and no additional fees, making it an excellent choice for traders looking for a reliable and convenient broker.
One of the additional advantages of HYCM is that it offers a wide range of educational tools to help traders improve their trading knowledge and skills. This includes live webinars, online seminars, trading guides, video tutorials and much more. HYCM is committed to helping its traders achieve their trading goals and maximize their earning potential.
HYCM offers 24/5 customer support in several languages, including English, Spanish, German, French and several other languages. Traders can contact the support team by phone, email and live chat. They also have a FAQ section on their website to help traders find answers to common questions.
E-mail: support@hycm.com
Overall, HYCM is a reliable and well-regulated forex broker that offers a wide range of trading instruments and trading platforms. With its focus on transparency and security of client funds, HYCM is an excellent choice for traders of all experience levels. In addition, its wide range of educational resources and exceptional customer service make HYCM an excellent choice for traders looking to improve their skills and knowledge in the Forex market.
Question: Does HYCM offer a demo account?
Answer: Yes, HYCM offers a free demo account for traders to test the platform and practice their trading strategies without risking their own money.
Question: What is the minimum deposit to open an account in HYCM?
Answer: The minimum deposit to open an account in HYCM is $100 USD.
Question: What trading platforms does HYCM offer?
Answer: HYCM offers a variety of trading platforms, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.
Question: Does HYCM offer leverage?
Answer: Yes, HYCM offers leverage for traders. The maximum leverage offered depends on the trading instrument and country regulation.
Question: Does HYCM charge transaction fees?
Answer: On classic and fixed accounts, HYCM charges a spread fee for its trades, which means that it does not charge commissions per trade. But on the raw account there is a commission.
Question: Does HYCM offer educational resources for traders?
Answer: Yes, HYCM offers a wide range of educational resources for traders, including trading courses, live webinars, educational articles and trading strategies on its website.
Question: Is HYCM regulated?
Answer: Yes, HYCM is regulated by several financial authorities, including the Financial Conduct Authority (FCA) in the United Kingdom, the Cyprus Securities and Exchange Commission (CYSEC) and the Cayman Islands Monetary Authority (CIMA).
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive xtb and hycm are, we first considered common fees for standard accounts. On xtb, the average spread for the EUR/USD currency pair is from 0.35 pips, while on hycm the spread is From 1.2.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
xtb is regulated by CYSEC,FCA,CNMV. hycm is regulated by FCA,CYSEC,CIMA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
xtb provides trading platform including STANDARD and trading variety including Forex, Commodities, Indices, Stock CFDs, ETF CFDs. hycm provides trading platform including CLASSIC,FIXED,RAW and trading variety including --.