HYCM vs 24Option Broker Comparison

Are you trying to figure out which is a better broker, HYCM or 24Option? After rigorously testing both brokers and putting each through our accurate and extensive reviewing process, we have concluded that HYCM is the better of the two. HYCM offers 300+ instruments, licenses from FCA, CySec, CIMA, and fair trading fees.

In the tables below, you can compare the features of HYCM and 24Option side by side, to work out which suits your trading needs best. You can also carry on reading to find out why our experts ranked HYCM higher than 24Option.

Rating
97/100
93/100
Min. Deposit
100$
250$
Regulated By
FCAFCA
CySecCySec
CIMACIMA
IFSCIFSC
Bonus
up to 5,000
N/A
Min. Spread
1.8
1.1
Max. Leverage
1:200*
1:500
Currency Pairs
69
30
Trading Instruments
300+
300
Trading Platforms
MT4, MT5, mobile
MT4, Private
Deposit Methods
Bank Wire Transfer, Visa, MasterCard, Neteller, Skrill, WebMoney
Payment Methods Visa, MasterCard ,Skrill, QiwiPay, AstroPay, Perfect Money, OXXO, Paysafecard, Neteller, Help2Pay, Piastrix, Jeton, Pay Fun, bank transfer, Boleto Bancario
Type of Brokers
Market Maker
Market Maker
Customer Support
24/5
24/5
Language Support
12
12
Established
1997, HQ in Cyprus
2009
Used By
1,000,000+ Traders
100,000+ Traders

Does HYCM or 24Option have lower trading costs and fees?

To compare the costs of trading at different brokers, our experts analyze both trading-specific fees, such as spreads, and non-trading fees, such as inactivity charges and payment costs.

To give an overall view of how cheap or expensive HYCM and 24Option are, we first considered the common fees on Standard Accounts. At HYCM the average spread for the EUR/USD currency pair is 1.8 pips, whilst at 24Option the spread is 1.1.

This shows that 24Option is the better option for low-cost forex trading.

When it comes to non-trading fees, HYCM charges for inactivity. 24Option charges for inactivity, withdrawal. With this in mind, HYCM has lower non-trading fees.

When our experts analyzed the specific costs of both brokers, we found that HYCM is the better option.

Trading Fees*

*Based on Standard account type.

Non-Trading Fees

Which broker is safer, HYCM or 24Option?

In order to decide how safe our top-rated brokers are, our experts look at a number of factors. This includes what licenses the broker holds and how reputable those licenses are. We also consider the history of the broker, as a long-standing broker is often more reliable and trustworthy than a newer one.

HYCM is regulated by FCA, CySec, CIMA and offers client protection. 24Option is regulated by IFSC and offers client protection.

Considering these two factors, and the general reputation and history of both brokers, we believe that HYCM is the safer broker.

Broker summary

How many trading instruments are available at HYCM and 24Option?

HYCM provides traders with 300+ instruments. This includes 69 currency pairs, 14 cryptocurrencies, and 70 stocks and shares. With HYCM, you can also trade CFDs.

In comparison, 24Option boasts 300 tradable instruments. 24Option offers 30 currency pairs, 36 cryptocurrencies, and 199 stocks and shares. 24Option also allows CFD trading.

As 24Option has 300 and HYCM has 300+, a difference of 0, this shows that 24Option offers more opportunities to diversify your trading portfolio.

Markets and Products

Which broker offers the best trading platform, HYCM or 24Option?

When our experts review a broker, they open their own accounts and place trades via the broker’s trading platform. This allows them to fully evaluate the quality of the platform, how easy it is to use and what features it offers.

HYCM provides you with the ability to trade via 3 trading platforms, and 24Option has 2 trading platforms. Both brokers also offer research and trading tools, however 24Option has more.

Overall, our experts agree that HYCM boasts the better trading platform offering.

Research Tools

Which is better for beginners, HYCM or 24Option?

To decide how well-suited a broker is for beginner traders, our experts look at what educational materials are available, how accessible the minimum deposit limits are, the range of account types and whether or not you can practice trading with a demo account first.

Considering this, our reviews show that 24Option is the better broker for beginner traders as it offers a larger range of educational tools and materials. 24Option also has a minimum deposit of 250$ and offers a demo account.

Educational Features

Which broker is better overall?

Overall, our tested reviewing methodology proves that HYCM is the better broker in a range of key areas. You can learn more by reading our HYCM and 24Option reviews.

HYCM vs 24Option
HYCM
97
Points
24Option
93
Points
Overall
4 points
HYCM
95
Points
24Option
89
Points
Commissions & Fees
6 points
HYCM
99
Points
24Option
92
Points
Licensing & Safety
7 points
HYCM
87
Points
24Option
93
Points
Trading Platforms & Tools
6 points
HYCM
92
Points
24Option
94
Points
Payments
2 points
HYCM
95
Points
24Option
99
Points
Customer Service
4 points
HYCM
89
Points
24Option
98
Points
Educational
9 points
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