InstaForex vs HYCM Broker Comparison
Are you trying to figure out which is a better broker, InstaForex or HYCM? After rigorously testing both brokers and putting each through our accurate and extensive reviewing process, we have concluded that InstaForex is the better of the two. InstaForex offers 300+ instruments, licenses from FSC, and fair trading fees.
In the tables below, you can compare the features of InstaForex and HYCM 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 InstaForex higher than HYCM.
Does InstaForex or HYCM 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 InstaForex and HYCM are, we first considered the common fees on Standard Accounts. At InstaForex the average spread for the EUR/USD currency pair is 3 pips, whilst at HYCM the spread is 1.8.
This shows that HYCM is the better option for low-cost forex trading.
When it comes to non-trading fees, InstaForex charges for inactivity, withdrawal. HYCM charges for inactivity. 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.
*Based on Standard account type.
Which broker is safer, InstaForex or HYCM?
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.
InstaForex is regulated by FSC and does not offer client protection. HYCM is regulated by FCA, CySec, CIMA and does not offer client protection.
Considering these two factors, and the general reputation and history of both brokers, we believe that HYCM is the safer broker.
How many trading instruments are available at InstaForex and HYCM?
InstaForex provides traders with 300+ instruments. This includes 110 currency pairs, 5 cryptocurrencies, and 89 stocks and shares. With InstaForex, you can also trade CFDs.
In comparison, HYCM boasts 300+ tradable instruments. HYCM offers 69 currency pairs, 14 cryptocurrencies, and 70 stocks and shares. HYCM also allows CFD trading.
As both brokers offer the same total number of instruments, both are great choice if you are wishing to diversify your trading portfolio.
Which broker offers the best trading platform, InstaForex or HYCM?
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.
InstaForex provides you with the ability to trade via 3 trading platforms, and HYCM has 3 trading platforms, too. Both brokers also offer research and trading tools, however InstaForex has more.
Overall, our experts agree that InstaForex boasts the better trading platform offering.
Which is better for beginners, InstaForex or HYCM?
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 InstaForex is the better broker for beginner traders as it offers a larger range of educational tools and materials. InstaForex also has a minimum deposit of $.