Ellevest
HYCM
BrokerDataNet earns affiliate commission from brokers listed on this site. This does not affect our ratings or editorial independence.
Overview
Ellevest was founded in 2008 and is headquartered in USA, while HYCM was established in 1977 and is based in UK. Ellevest holds licences including Unregulated, while HYCM is regulated by Financial Conduct Authority (FCA) among others. Ellevest serves 10,000+ clients worldwide; HYCM has 10,000+. The minimum deposit is $1 at Ellevest and $100 at HYCM.
| Feature | Ellevest | HYCM |
|---|---|---|
| Min. Deposit | $1 | $100 |
| Regulation | Unregulated | Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048 |
| Founded | 2008 | 1977 |
| Country | USA | UK |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Ellevest and HYCM, directly affecting your bottom line as a trader. Ellevest has a lower barrier to entry with a minimum deposit of $1 (vs $100 at HYCM). Both brokers charge withdrawal fees. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. Ellevest charges deposit fees; HYCM does not. Overall, Ellevest scores higher on fees in our assessment.
| Feature | Ellevest | HYCM |
|---|---|---|
| Min. Deposit | $1 | $100 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
Platforms
Ellevest offers MT4, MT5, cTrader, while HYCM supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. HYCM supports social and copy trading features, which Ellevest does not offer. The two brokers are closely matched on platform offering.
| Feature | Ellevest | HYCM |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Windows, Android, Mac OS, iOS | MT4, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Ellevest and HYCM compare. HYCM runs regular live webinars; Ellevest does not. Both provide video tutorials. HYCM publishes daily market commentary; Ellevest does not. Both integrate third-party research tools. HYCM maintains an archive of past webinars for on-demand viewing. HYCM scores higher overall in education and research.
| Feature | Ellevest | HYCM |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Ellevest accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while HYCM supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). HYCM uniquely supports PayPal and Skrill and Neteller among the two brokers. HYCM scores higher on deposit and withdrawal flexibility.
| Feature | Ellevest | HYCM |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Ellevest and HYCM offer live chat support. Both provide phone support. Email support is available at both brokers. Ellevest supports 2 languages and HYCM supports 5, giving HYCM broader global reach. Both brokers are comparable on support quality.
| Feature | Ellevest | HYCM |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Chinese, Chinese (Traditional), Arabic, and Russian |