HYCM vs OANDA Comparison: Which Is Better for Traders?
We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
Who is better - HYCM or OANDA?
Our pick: OANDA
Based on multiple factors - spreads and fees, available assets and instruments, execution quality, platform usability, support level, and educational resources - OANDA looks preferable to HYCM.
OANDA scored 4.3/5 and ranks 28 in our all Forex brokers list, whereas HYCM has 4.2/5 and ranks 32.
This is not financial advice. See the full comparison below.
Who is HYCM suitable for?
Broker HYCM is suitable for most traders, but some features may not meet the expectations of specific traders.
Who is OANDA suitable for?
Oanda is suitable for beginners and experienced traders, thanks to quality analytics and various educational materials.
Comparison Table of HYCM and OANDA
| Broker | HYCM | OANDA |
|---|---|---|
| Rating | 4.2/5 | 4.3/5 |
| Foundation Year | 1976 | 2001 |
| Regulated in Countries | United Kingdom, Cyprus, Cayman Islands, United Arab Emirates | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland |
| Minimum Deposit |
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| Spread | from 0.1 points | from 0.5 points |
| Max Leverage | 1:500 | 1:200 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | HYCM Review | OANDA Review |
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:
OANDA Review
Oanda is an excellent choice for traders seeking a reliable and regulated broker with competitive spreads and various trading assets.
With quality analytics and diverse educational materials, Oanda suits beginners and experienced traders.
Pros and Cons of OANDA
Pros
- Tight spreads.
- Diverse markets and products.
- Advanced trading platforms.
- Quality analytics.
- Extensive learning section.
Cons
- Limited trading account types.
- Inactivity fee.
- High swaps.
OANDA is in the top 10 of the following ratings:
Reliability
| Broker | HYCM | OANDA |
|---|---|---|
| Reliability | 5/5 | 5/5 |
| Foundation Year | 1976 | 2001 |
| Regulated in Countries | United Kingdom, Cyprus, Cayman Islands, United Arab Emirates | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland |
| Regulators | FCA FCA CySEC CySEC CIMA CIMA SVGFSA SVGFSA DFSA DFSA | NFA NFA CFTC CFTC ASIC ASIC CIRO CIRO FCA FCA JFSA JFSA BVIFSC BVIFSC MAS MAS KNF KNF |
HYCM
Broker HYCM provides high reliability and security, being under the control of various strict regulators around the world.
OANDA
Oanda demonstrates a high level of reliability, evidenced by licenses from the world's leading regulators.
Account Opening
| Broker | HYCM | OANDA |
|---|---|---|
| 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.
OANDA
Oanda offers a straightforward and structured registration process, ensuring convenience for clients.
Pros
- Clearly structured registration process.
- No minimum deposit, offering flexibility for traders.
Cons
- Additional documents may be required in some cases.
- Document verification can take from 1 to 2 working days.
Account Types
| Broker | HYCM | OANDA |
|---|---|---|
| Account Types | 3.5/5 | 3/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0.1 points | from 0.5 points |
| Max Leverage | 1:500 | 1:200 |
| 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.
OANDA
Oanda provides various trading accounts, but some specialized types are missing.
Pros
- Standard accounts are available.
- Demo accounts are offered.
- Swap Free accounts are available for traders following Islamic principles.
Cons
- Cent accounts are missing.
- No fixed spread accounts.
- No investment accounts are available.
Commissions
| Broker | HYCM | OANDA |
|---|---|---|
| Commissions | 3/5 | 3.5/5 |
| Spread | from 0.1 points | from 0.5 points |
| Average Spread (EURUSD) | 1.5 | 0.8 |
| Commission per Lot | $4 |
HYCM
HYCM charges average trading fees and an account inactivity fee.
OANDA
Oanda's fees are moderate, making this broker competitive.
Pros
- No fees for deposits and withdrawals.
- Low spreads on major currency pairs.
Cons
- Inactivity fee is charged.
- Swaps may be high for some currency pairs.
Deposit and Withdrawal
| Broker | HYCM | OANDA |
|---|---|---|
| Rating | 5/5 | 4/5 |
| Account Funding Methods |
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HYCM
HYCM offers a flexible and cost-effective approach to account funding and withdrawal of funds.
OANDA
Oanda offers flexible conditions for depositing and withdrawing funds, but payment system commissions and currency conversion costs may apply.
Pros
- The broker does not charge a fee for deposits and withdrawals.
- A wide selection of payment systems is available.
- No restrictions on the amounts of deposits and withdrawals.
Cons
- High commission fees for certain methods by payment systems.
- Withdrawal request processing time may be long.
- Cryptocurrencies are not available as a payment method.
Markets and Products
| Broker | HYCM | OANDA |
|---|---|---|
| Markets and Products | 5/5 | 4.4/5 |
| Forex | 72 | 48 |
| Precious Metals | 5 | 3 |
| Energy Carriers | 3 | 3 |
| Soft Commodities | 4 | 4 |
| Indices | 27 | 18 |
| Stocks | 1080 | 1607 |
| Cryptocurrency | 28 | 18 |
HYCM
HYCM offers a wide range of trading instruments, satisfying the diverse needs of traders.
OANDA
Oanda offers an extensive set of markets and products, making it a versatile choice for traders of different levels.
Pros
- A wide range of currency pairs.
- A large selection of stocks and indices.
- Access to cryptocurrency trading.
Cons
- Maximum leverage is only up to 1:200.
Trading Platforms
| Broker | HYCM | OANDA |
|---|---|---|
| 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.
OANDA
Oanda provides high-quality trading platforms with deep functionality and integration with TradingView.
Pros
- Access to classic platforms MT4 and MT5.
- The fxTrade mobile app with integration with MT5.
- Integration with TradingView.
Cons
- No MetaTrader alternatives for desktop devices.
Analytics
| Broker | HYCM | OANDA |
|---|---|---|
| Rating | 4/5 | 5/5 |
HYCM
HYCM offers good analytical tools, but the regularity and variety of materials could be improved.
OANDA
The Oanda broker's analytical section offers many tools that help traders make informed decisions.
Education
| Broker | HYCM | OANDA |
|---|---|---|
| Rating | 4.5/5 | 4.5/5 |
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.
OANDA
Oanda provides an extensive range of educational resources, catering to new and experienced traders, focusing on leveraged trading.
Pros
- Comprehensive coverage of fundamental and technical analysis.
- Variety of resources including webinars, workshops, and live market analysis.
- Free access to premium content for live account holders.
Cons
- Some advanced topics may not be covered in depth.
Customer Support
| Broker | HYCM | OANDA |
|---|---|---|
| Rating | 4/5 | 5/5 |
| 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.
OANDA
Oanda's technical support provides extensive communication options and round-the-clock service, ensuring the professionalism and efficiency of the solutions provided.
Comparisons of HYCM and OANDA with other brokers
Conclusion
OANDA stands out as the better overall pick, while HYCM trails on aggregate criteria.
OANDA scored 4.3/5 and ranks 28 in our rating; HYCM has 4.2/5 and ranks 32.
We explain the reasons above in detail — fees, platforms, reliability, support, and more.
FAQ
Which broker is better: HYCM or OANDA?
OANDA comes out ahead by overall rank (score 4.3/5, position 28) versus HYCM (score 4.2/5, position 32).
Which broker is better for beginners: HYCM or OANDA?
OANDA is often a smoother start thanks to simpler onboarding and stronger baseline metrics. Still, your tools and budget should drive the final choice.
Who has lower typical trading costs (spreads/commissions) — HYCM or OANDA?
It depends on the instrument and account type. Compare the live conditions in the “Commissions” section on this page — we break down the nuances category by category.
What trading platforms are available with HYCM and OANDA?
HYCM: MetaTrader 4, MetaTrader 5. OANDA: MetaTrader 5, MetaTrader 4, TradingView, fxTrade. See the “Platforms” section for details and selection tips.
What markets can you trade with HYCM and OANDA?
HYCM: Forex, Precious Metals, Energy Carriers, Soft Commodities, Indices, Stocks, Cryptocurrency. OANDA: Forex, Precious Metals, Energy Carriers, Soft Commodities, Indices, Stocks, Cryptocurrency. Full lists and differences are in the “Markets” section.
What account types are offered by HYCM and OANDA?
HYCM: Classic, Fixed, Raw. OANDA: Standard, Swap Free. See “Account Types” for a side-by-side comparison.
What deposit and withdrawal methods are supported by HYCM and OANDA?
HYCM: Neteller, Skrill, Perfect Money, Swift, Visa, Mastercard. OANDA: Skrill, Neteller, Swift, Visa, Mastercard. Check method-specific fees/settlement times.
Which broker is safer — HYCM or OANDA — and how was this assessed?
We consider regulation, corporate transparency, fund protection, and incident history. See the “Reliability” section for our findings.
