HYCM vs World Forex 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 World Forex
| Broker | HYCM | World Forex |
|---|---|---|
| Rating | 4.2/5 | 4/5 |
| Foundation Year | 1976 | 2007 |
| Regulated in Countries | United Kingdom, Cyprus, Cayman Islands, United Arab Emirates | Saint Vincent and the Grenadines, Vanuatu |
| Minimum Deposit |
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| Spread | from 0.1 points | from 0 points |
| Max Leverage | 1:500 | 1:1000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | HYCM Review | World Forex Review |
Broker HYCM is suitable for most traders, but some features may not meet the expectations of specific traders.
World Forex is suitable for beginners and experienced traders thanks to narrow spreads and a wide selection of trading accounts.
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:
World Forex Review
World Forex offers traders a variety of trading accounts and competitive conditions with low spreads, making it an attractive choice for clients interested in saving on trading costs. Support for the popular MetaTrader 4 and MetaTrader 5 trading platforms guarantees a high level of convenience and functionality, while a large selection of payment systems and the broker's coverage of deposit fees simplify financial transactions.
WForex is best suited for active traders who prefer short-term trading and can take advantage of low spreads and a wide choice of payment systems. The broker will be less attractive for beginners due to the lack of training resources and for those looking for long-term investment opportunities due to high swaps.
Pros and Cons of World Forex
Pros
- Various trading accounts.
- Low spreads.
- Availability of popular trading platforms.
- A wide range of payment systems and broker-covered commissions on deposits.
Cons
- Limited selection of educational materials.
- There is an absence of soft commodities and indices.
- High swaps.
World Forex is in the top 10 of the following ratings:
Reliability
| Broker | HYCM | World Forex |
|---|---|---|
| Reliability | 5/5 | 3.6/5 |
| Foundation Year | 1976 | 2007 |
| Regulated in Countries | United Kingdom, Cyprus, Cayman Islands, United Arab Emirates | Saint Vincent and the Grenadines, Vanuatu |
| Regulators | FCA FCA CySEC CySEC CIMA CIMA SVGFSA SVGFSA DFSA DFSA | SVGFSA SVGFSA VFSC VFSC - |
HYCM
Broker HYCM provides high reliability and security, being under the control of various strict regulators around the world.
World Forex
World Forex is a member of the Financial Commission (FinaCom), and the quality of order execution on the broker's platform is analyzed monthly by the VerifyMyTrade service. However, WForex is regulated in offshore jurisdictions.
Pros
- Monthly audit and certification of orders.
- Trader protection through a compensation fund.
Cons
- Regulated in offshore jurisdictions.
Account Opening
| Broker | HYCM | World Forex |
|---|---|---|
| Account Opening | 4.5/5 | 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.
World Forex
Considering that a minimal amount of information is required for registration and the verification process is standard, it can be said that the account opening process at WorldForex is quite simple and convenient.
Account Types
| Broker | HYCM | World Forex |
|---|---|---|
| Account Types | 3.5/5 | 5/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0.1 points | from 0 points |
| Max Leverage | 1:500 | 1:1000 |
| 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.
World Forex
WorldForex offers a variety of account types, meeting the needs of different traders, making it a versatile choice.
Pros
- Wide selection of account types, including specialized accounts.
- Availability of a demo account and copy trading services.
Commissions
| Broker | HYCM | World Forex |
|---|---|---|
| Commissions | 3/5 | 3.5/5 |
| Spread | from 0.1 points | from 0 points |
| Average Spread (EURUSD) | 1.5 | |
| Commission per Lot | $4 |
HYCM
HYCM charges average trading fees and an account inactivity fee.
World Forex
Low spreads make trading accessible, but relatively high swaps and standard margin rates can increase the overall cost of trading, especially for traders using long-term trading strategies.
Deposit and Withdrawal
| Broker | HYCM | World Forex |
|---|---|---|
| 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.
World Forex
WorldForex provides convenient and fairly quick methods for depositing and withdrawing funds, but high commissions for withdrawals by payment systems can sometimes be an issue for clients.
Markets and Products
| Broker | HYCM | World Forex |
|---|---|---|
| Markets and Products | 5/5 | 3/5 |
| Forex | 72 | 55 |
| Precious Metals | 5 | 4 |
| Energy Carriers | 3 | 2 |
| Soft Commodities | 4 | - |
| Indices | 27 | - |
| Stocks | 1080 | 46 |
| Cryptocurrency | 28 | 17 |
HYCM
HYCM offers a wide range of trading instruments, satisfying the diverse needs of traders.
World Forex
The World Forex product range is limited but covers the main asset categories.
Pros
- A large number of currency pairs.
- Spot metals and oil.
- Availability of CFDs on cryptocurrencies.
Cons
- No soft commodities and indices.
- Relatively small number of CFDs on stocks.
- Lack of opportunities for extended portfolio diversification.
Trading Platforms
| Broker | HYCM | World Forex |
|---|---|---|
| Rating | 4/5 | 4.5/5 |
| 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.
World Forex
World Forex trading platforms offer a wide range of functionalities and ease of use, although the broker lacks an alternative to MetaTrader for mobile and desktop devices.
Analytics
| Broker | HYCM | World Forex |
|---|---|---|
| Rating | 4/5 | 4.5/5 |
HYCM
HYCM offers good analytical tools, but the regularity and variety of materials could be improved.
World Forex
World Forex offers a decent set of tools for market analysis. However, the analytics section could be more diverse and include additional analytical tools or signals to better support traders.
Education
| Broker | HYCM | World Forex |
|---|---|---|
| Rating | 4.5/5 | 2/5 |
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.
World Forex
The education section of the World Forex broker provides basic information for beginners, but is limited in scope and learning formats. Expanding and diversifying educational materials could improve its usefulness and appeal to traders.
Customer Support
| Broker | HYCM | World Forex |
|---|---|---|
| Rating | 4/5 | 4.5/5 |
| Email Support |
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| Hotline Phones |
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| Social Media |
Facebook
Twitter
LinkedIn
Instagram
YouTube
Telegram
VK
OK
TradingViewHYCM
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.
World Forex
The technical support section of World Forex offers a variety of communication channels, ensuring accessibility and convenience for clients.
