HYCM vs IC Markets 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 HYCM and IC Markets
| Broker | HYCM | IC Markets |
|---|---|---|
| Rating | 4.2/5 | 4.7/5 |
| Foundation Year | 1976 | 2007 |
| Regulated in Countries | United Kingdom, Cyprus, Cayman Islands, United Arab Emirates | Seychelles, Australia, Cyprus, Kenya |
| Minimum Deposit |
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| Spread | from 0.1 points | from 0 points |
| Max Leverage | 1:500 | 1:500 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | HYCM Review | IC Markets Review |
Broker HYCM is suitable for most traders, but some features may not meet the expectations of specific traders.
IC Markets is suitable for traders looking for low spreads and ECN accounts and the ability to scalp and use expert advisors.
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:
IC Markets Review
IC Markets is a reliable and versatile broker that offers a wide range of services and tools for trading in the financial markets. The company provides impressive trading instruments, high-quality trading platforms, advanced analytical tools, and valuable education for traders of all levels.
IC Markets is likely most suitable for experienced traders who value deep liquidity, tight spreads, and advanced trading tools. Beginner traders can also benefit from the educational materials offered by the company, but they should be prepared for some additional expenses and a higher minimum deposit requirement.
Pros and Cons of IC Markets
Pros
- A wide range of trading assets.
- Low spreads.
- Variety of trading platforms.
- Quality educational materials.
- Efficient customer support service.
Cons
- High minimum deposit.
IC Markets is in the top 10 of the following ratings:
Reliability
| Broker | HYCM | IC Markets |
|---|---|---|
| Reliability | 5/5 | 5/5 |
| Foundation Year | 1976 | 2007 |
| Regulated in Countries | United Kingdom, Cyprus, Cayman Islands, United Arab Emirates | Seychelles, Australia, Cyprus, Kenya |
| Regulators | FCA FCA CySEC CySEC CIMA CIMA SVGFSA SVGFSA DFSA DFSA | SFSA SFSA ASIC ASIC CySEC CySEC CMA CMA |
HYCM
Broker HYCM provides high reliability and security, being under the control of various strict regulators around the world.
IC Markets
IC Markets operates under the regulation of several jurisdictions, including ASIC in Australia, CySEC in Cyprus, and SFSA in the Seychelles, indicating a high degree of regulation.
Account Opening
| Broker | HYCM | IC Markets |
|---|---|---|
| Account Opening | 4.5/5 | 4.5/5 |
| Minimum Deposit |
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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.
IC Markets
The account opening process at IC Markets is well-thought-out, transparent, and detailed, ensuring convenience and ease for clients. However, the high minimum deposit may deter many beginners.
Account Types
| Broker | HYCM | IC Markets |
|---|---|---|
| Account Types | 3.5/5 | 3.8/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0.1 points | from 0 points |
| Max Leverage | 1:500 | 1:500 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Demo Account | ||
| Swap-free Account |
HYCM
HYCM offers a variety of trading accounts suitable for different levels of experience, but some account types are missing.
IC Markets
IC Markets' accounts are mainly aimed at experienced and professional traders.
Pros
- ECN accounts
- Ability to copy trades
- Access to VPS
Cons
- No cent accounts
- No fixed spread accounts
Commissions
| Broker | HYCM | IC Markets |
|---|---|---|
| Commissions | 3/5 | 4.5/5 |
| Spread | from 0.1 points | from 0 points |
| Average Spread (EURUSD) | 1.5 | 0.62 |
| Commission per Lot | $4 | $3.5 |
HYCM
HYCM charges average trading fees and an account inactivity fee.
IC Markets
IC Markets has low commissions. Fees for transactions on ECN accounts and spreads are acceptable to most traders, and the absence of charges for deposits/withdrawals and account inactivity is a significant advantage.
Deposit and Withdrawal
| Broker | HYCM | IC Markets |
|---|---|---|
| Rating | 5/5 | 4.5/5 |
| Account Funding Methods |
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HYCM
HYCM offers a flexible and cost-effective approach to account funding and withdrawal of funds.
IC Markets
IC Markets offers multiple options for depositing and withdrawing funds, but possible fees from banks and payment systems should be considered, along with some restrictions on withdrawal methods.
Markets and Products
| Broker | HYCM | IC Markets |
|---|---|---|
| Markets and Products | 5/5 | 5/5 |
| Forex | 72 | 61 |
| Precious Metals | 5 | 7 |
| Energy Carriers | 3 | 5 |
| Soft Commodities | 4 | 8 |
| Indices | 27 | 25 |
| Stocks | 1080 | 2175 |
| Cryptocurrency | 28 | 21 |
| ETF | - | 38 |
| Bonds | - | 10 |
HYCM
HYCM offers a wide range of trading instruments, satisfying the diverse needs of traders.
IC Markets
IC Markets offers various trading instruments, including currency pairs, CFDs on metals, energy resources, commodities, indices, stocks, bonds, and cryptocurrencies.
Trading Platforms
| Broker | HYCM | IC Markets |
|---|---|---|
| Rating | 4/5 | 5/5 |
| Trading Platforms |
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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.
IC Markets
IC Markets provides powerful and functional trading platforms suitable for various trader categories.
Analytics
| Broker | HYCM | IC Markets |
|---|---|---|
| Rating | 4/5 | 5/5 |
HYCM
HYCM offers good analytical tools, but the regularity and variety of materials could be improved.
IC Markets
IC Markets provides its clients with an extensive set of analytical tools and materials, which can assist them in successful trading in the financial markets.
Education
| Broker | HYCM | IC Markets |
|---|---|---|
| Rating | 4.5/5 | 5/5 |
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.
IC Markets
IC Markets offers a wide range of educational resources, from interactive video lessons to webinars and podcasts, demonstrating care for their clients and a commitment to providing all the necessary resources for successful trading.
Customer Support
| Broker | HYCM | IC Markets |
|---|---|---|
| Rating | 4/5 | 4.7/5 |
| Email Support |
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| Hotline Phones |
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| Social Media |
Facebook
Twitter
LinkedIn
Instagram
YouTubeHYCM
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.
IC Markets
IC Markets provides a variety of communication channels, ensuring support service accessibility for clients. Numerous client reviews indicate the support team's quick response and high professionalism.
Pros
- Positive reviews about professional support
- Multiple channels for support communication
- Support is available 24/7
Cons
- Only international call option is available
