Fortrade
HYCM
BrokerDataNet earns affiliate commission from brokers listed on this site. This does not affect our ratings or editorial independence.
Overview
Fortrade was founded in 1992 and is headquartered in UK, while HYCM was established in 1977 and is based in UK. Fortrade holds licences including Financial Conduct Authority (FCA) FRN: 609970, while HYCM is regulated by Financial Conduct Authority (FCA) among others. Fortrade serves 10,000+ clients worldwide; HYCM has 10,000+. The minimum deposit is $1 at Fortrade and $100 at HYCM.
| Feature | Fortrade | HYCM |
|---|---|---|
| Min. Deposit | $1 | $100 |
| Regulation | Financial Conduct Authority (FCA) FRN: 609970, National Bank of the Republic of Belarus (NBRB) FRN: 193075810, Australian Securities and Investments Commission (ASIC) ABN: 33 614 683 831 | AFSL: 493520, Canadian Investor Protection Fund (CIPF) CRN: BC1148613, Cyprus Securities and Exchange Commission (CySEC) with CIF license number 385/20 | 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 | 1992 | 1977 |
| Country | UK | UK |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Fortrade and HYCM, directly affecting your bottom line as a trader. Fortrade has a lower barrier to entry with a minimum deposit of $1 (vs $100 at HYCM). HYCM charges withdrawal fees while Fortrade does not, giving Fortrade an edge for frequent withdrawers. HYCM applies inactivity fees on dormant accounts; Fortrade does not. Fortrade charges deposit fees; HYCM does not. Overall, Fortrade scores higher on fees in our assessment.
| Feature | Fortrade | HYCM |
|---|---|---|
| Min. Deposit | $1 | $100 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | Yes |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
Platforms
Fortrade 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 Fortrade does not offer. The two brokers are closely matched on platform offering.
| Feature | Fortrade | HYCM |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, Binary, Tablet & Mobile apps | MT4, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Fortrade and HYCM compare. HYCM runs regular live webinars; Fortrade does not. HYCM has a video library; Fortrade does not. HYCM publishes daily market commentary; Fortrade does not. HYCM integrates third-party research tools (Trading Central, Autochartist); Fortrade does not. HYCM maintains an archive of past webinars for on-demand viewing. HYCM scores higher overall in education and research.
| Feature | Fortrade | HYCM |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Fortrade accepts 4 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Neteller), while HYCM supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). HYCM uniquely supports Skrill among the two brokers. HYCM scores higher on deposit and withdrawal flexibility.
| Feature | Fortrade | HYCM |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | Yes |
| Skrill | No | Yes |
| Neteller | Yes | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Fortrade and HYCM offer live chat support. Both provide phone support. Email support is available at both brokers. Fortrade supports 1 language and HYCM supports 5, giving HYCM broader global reach. Both brokers are comparable on support quality.
| Feature | Fortrade | HYCM |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English | English, Chinese, Chinese (Traditional), Arabic, and Russian |