FreshForex vs HYCM Comparison
We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
Comparison Table of FreshForex and HYCM
| Broker | FreshForex | HYCM |
|---|---|---|
| Rating | 3.8/5 | 4.2/5 |
| Foundation Year | 2003 | 1976 |
| Regulated in Countries | Saint Vincent and the Grenadines | United Kingdom, Cyprus, Cayman Islands, United Arab Emirates |
| Minimum Deposit |
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| Spread | from 0 points | from 0.1 points |
| Max Leverage | 1:2000 | 1:500 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | FreshForex Review | HYCM Review |
FreshForex is suitable for beginners thanks to educational materials, a wide selection of instruments, and experienced traders looking for various accounts.
Broker HYCM is suitable for most traders, but some features may not meet the expectations of specific traders.
FreshForex Review
FreshForex is a broker with rich experience in the market since 2004, and it has established itself as a stable and reliable partner. The broker offers a variety of trading accounts that can meet the needs of different categories of traders, including accounts with fixed and floating spreads and with market execution. An additional advantage is an extensive set of educational materials and analytics that can be useful for beginners and experienced traders.
However, there are significant disadvantages to consider. The lack of regulation by major financial institutions such as the FCA or ASIC can be critical for traders looking for maximum security for their funds. Also, the lack of a native mobile app can limit the ability to trade on the go, although this is offset by support for the popular MetaTrader 4 and MetaTrader 5 platforms. High trading commissions on ECN accounts can deter traders from seeking more favorable trading conditions.
Overall, FreshForex is suitable for traders who appreciate the variety of trading accounts and educational resources. The broker is especially ideal for those willing to accept some risk associated with the lack of regulation by reputable authorities.
Pros and Cons of FreshForex
Pros
- It has been on the market since 2004 and has established itself as a reliable and stable broker.
- Variety of trading accounts.
- Quality analytics.
- Extensive education program.
Cons
- Lack of regulation by major financial authorities.
- Absence of a mobile application.
- High trading fees.
FreshForex is in the top 10 of the following ratings:
HYCM Review
HYCM is one of the Forex and CFD market leaders whose reputation is backed by strict regulation by major financial authorities such as the FCA, CySEC and DFSA. This ensures high protection of the client's funds and compliance with regulatory standards. The broker offers a wide range of trading platforms, including MetaTrader 4 and MetaTrader 5, recognized as some of the most reliable and functional in the industry. The variety of trading instruments available allows you to create a diverse investment portfolio, while a rich selection of educational resources supports traders at all stages of their professional development.
HYCM will be most suitable for traders looking for reliability and diversity in the toolkit without worrying about high commissions and a lack of innovative platforms. This broker is ideal for experienced traders who can use the analytical and educational resources provided to improve their trading strategies.
Pros and Cons of HYCM
Pros
- Well-regulated broker.
- An extensive set of educational materials.
- Diversity of trading assets.
Cons
- Absence of proprietary trading platform.
- No social trading.
HYCM is in the top 10 of the following ratings:
Reliability
| Broker | FreshForex | HYCM |
|---|---|---|
| Reliability | 3/5 | 5/5 |
| Foundation Year | 2003 | 1976 |
| Regulated in Countries | Saint Vincent and the Grenadines | United Kingdom, Cyprus, Cayman Islands, United Arab Emirates |
| Regulators | SVGFSA SVGFSA | FCA FCA CySEC CySEC CIMA CIMA SVGFSA SVGFSA DFSA DFSA |
FreshForex
FreshForex has an offshore registration. There is also a lack of strict regulation, which raises concerns about reliability
HYCM
Broker HYCM provides high reliability and security, being under the control of various strict regulators around the world.
Account Opening
| Broker | FreshForex | HYCM |
|---|---|---|
| Account Opening | 5/5 | 4.5/5 |
| Minimum Deposit |
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FreshForex
The account opening process at FreshForex is simple and convenient.
HYCM
The account opening process at HYCM is simple and convenient, ensuring a smooth start for traders. However, verification and financial profile completion may take time.
Pros
- Quick registration, taking less than 5 minutes.
- Straightforward and understandable registration process.
Cons
- Necessity to fill out a detailed financial profile.
- Minimum deposit of $100 may be high for beginners.
Account Types
| Broker | FreshForex | HYCM |
|---|---|---|
| Account Types | 4.5/5 | 3.5/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0 points | from 0.1 points |
| Max Leverage | 1:2000 | 1:500 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Demo Account | ||
| Swap-free Account |
FreshForex
FreshForex offers a variety of accounts to meet different needs, but lacks options for passive investing.
HYCM
HYCM offers a variety of trading accounts suitable for different levels of experience, but some account types are missing.
Commissions
| Broker | FreshForex | HYCM |
|---|---|---|
| Commissions | 2.2/5 | 3/5 |
| Spread | from 0 points | from 0.1 points |
| Average Spread (EURUSD) | 1.8 | 1.5 |
| Commission per Lot | $3.3 | $4 |
FreshForex
FreshForex has higher than average market commissions, but does not charge for inactivity or deposits/withdrawals.
HYCM
HYCM charges average trading fees and an account inactivity fee.
Deposit and Withdrawal
| Broker | FreshForex | HYCM |
|---|---|---|
| Rating | 5/5 | 5/5 |
| Account Funding Methods |
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FreshForex
FreshForex ensures fast and convenient account funding and withdrawals with more than 20 methods without broker commissions.
HYCM
HYCM offers a flexible and cost-effective approach to account funding and withdrawal of funds.
Markets and Products
| Broker | FreshForex | HYCM |
|---|---|---|
| Markets and Products | 4/5 | 5/5 |
| Forex | 52 | 72 |
| Precious Metals | 13 | 5 |
| Energy Carriers | 3 | 3 |
| Indices | 12 | 27 |
| Stocks | 115 | 1080 |
| ETF | 7 | - |
| Cryptocurrency | 74 | 28 |
| Soft Commodities | - | 4 |
FreshForex
FreshForex offers an extensive selection of trading instruments, but with limitations such as the absence of soft commodities and an average number of CFDs.
HYCM
HYCM offers a wide range of trading instruments, satisfying the diverse needs of traders.
Trading Platforms
| Broker | FreshForex | HYCM |
|---|---|---|
| Rating | 4/5 | 4/5 |
| Trading Platforms |
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FreshForex
FreshForex offers reliable and popular MT4 and MT5 platforms with a variety of tools and versions for different devices.
Pros
- Access to MT4 and MT5, proven platforms.
- A large arsenal of indicators and tools.
- Versions for PC, MacOS, iPhone, Android, and Web.
Cons
- Lack of proprietary or alternative platforms.
- May be complex for beginner traders.
HYCM
HYCM offers reliable and functional trading platforms MT4 and MT5, available on various devices and supporting automated trading.
Pros
- Availability of popular and functional platforms MT4 and MT5.
- Extensive capabilities for technical analysis and automated trading.
- Support for many devices, including desktop computers and mobile devices.
Cons
- Lack of a proprietary unique platform.
Analytics
| Broker | FreshForex | HYCM |
|---|---|---|
| Rating | 5/5 | 4/5 |
FreshForex
FreshForex offers comprehensive and timely analytics, including a variety of analysis methods and useful tools for traders.
Pros
- Daily forecasts and Forex analytics.
- A variety of analysis methods.
- Additional tools such as a calculator and economic calendar.
HYCM
HYCM offers good analytical tools, but the regularity and variety of materials could be improved.
Education
| Broker | FreshForex | HYCM |
|---|---|---|
| Rating | 5/5 | 4.5/5 |
FreshForex
FreshForex offers an extensive educational program, including webinars, consultations, and literature suitable for beginners.
Pros
- A variety of educational materials and courses.
- Free webinars and consultations with experts.
- A comprehensive glossary of Forex terms for beginners.
Cons
- Lack of advanced courses for experienced traders.
HYCM
HYCM's educational materials cover a wide range of topics and are available in various formats, making them useful for traders of different levels.
Customer Support
| Broker | FreshForex | HYCM |
|---|---|---|
| Rating | 3.5/5 | 4/5 |
| Email Support |
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| Hotline Phones |
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| Social Media |
Telegram
YouTube
VK
OK
Facebook
Twitter
LinkedIn
InstagramFreshForex
FreshForex technical support offers a variety of communication channels, but the quality of service is inconsistent.
Pros
- Multiple channels of communication.
- Quick response in some cases.
Cons
- Inconsistency in service quality.
- Lack of 24/7 support.
HYCM
HYCM provides efficient and professional technical support, with some nuances.
Pros
- A sufficiently broad range of communication channels.
- Quick and professional response.
- Positive client reviews.
Cons
- Lack of 24/7 support.
- Can only call an international phone number.
- Absence of messenger services among communication channels.
