FXCM
HYCM
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Overview
FXCM was founded in 1999 and is headquartered in United States, while HYCM was established in 1977 and is based in UK. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. FXCM serves 10,000+ clients worldwide; HYCM has 10,000+. The minimum deposit is $1 at FXCM and $100 at HYCM.
| Feature | FXCM | HYCM |
|---|---|---|
| Min. Deposit | $1 | $100 |
| Regulation | Financial Conduct Authority (FCA) | 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 | 1999 | 1977 |
| Country | United States | UK |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between FXCM and HYCM, directly affecting your bottom line as a trader. FXCM has a lower barrier to entry with a minimum deposit of $1 (vs $100 at HYCM). HYCM charges withdrawal fees while FXCM does not, giving FXCM an edge for frequent withdrawers. HYCM applies inactivity fees on dormant accounts; FXCM does not. Overall, FXCM scores higher on fees in our assessment.
| Feature | FXCM | HYCM |
|---|---|---|
| Min. Deposit | $1 | $100 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
FXCM 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 FXCM does not offer. The two brokers are closely matched on platform offering.
| Feature | FXCM | 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, Mirror Trader, Web Trader, NinjaTrader, 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 FXCM and HYCM compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. The two brokers are evenly matched on educational content.
| Feature | FXCM | HYCM |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. FXCM 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 | FXCM | 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 FXCM and HYCM offer live chat support. Both provide phone support. Email support is available at both brokers. FXCM supports 2 languages and HYCM supports 5, giving HYCM broader global reach. Both brokers are comparable on support quality.
| Feature | FXCM | HYCM |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Chinese, Chinese (Traditional), Arabic, and Russian |