Oanda vs HYCM Broker Comparison

Are you trying to figure out which is a better broker, Oanda or HYCM? 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 Oanda 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 HYCM higher than Oanda.

Rating
90/100
92.8/100
Min. Deposit
0$
100$
Regulated By
FCAFCA
ASICASIC
FSA(SVG)FSA(SVG)
FCAFCA
CySecCySec
CIMACIMA
Bonus
No Information
up to 5,000
Min. Spread
0
1.8
Max. Leverage
1:200
1:200
Currency Pairs
45
69
Trading Instruments
126
300+
Trading Platforms
MT4, mobile, WebTrader
MT4, MT5, mobile
Deposit Methods
Bank wire, Visa, Mastercard, Skrill, Neteller and others
Bank transfer, Visa, MasterCard, Neteller, Skrill, WebMoney
Type of Brokers
Market Maker
Market Maker
Customer Support
24/7
24/5
Language Support
4
12
Established
1990
2010 1997, HQ in Cyprus
Used By
100,000 Traders
1,000,000+ Traders

Does Oanda 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 Oanda and HYCM are, we first considered the common fees on Standard Accounts. At Oanda the average spread for the EUR/USD currency pair is 0 pips, whilst at HYCM the spread is 1.8.

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

When it comes to non-trading fees, Oanda charges for . HYCM charges for inactivity. With this in mind, Oanda 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, Oanda 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.

Oanda is regulated by FCA, ASIC, FSA(SVG), NFA, IIROC, MAS 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.

Broker summary

How many trading instruments are available at Oanda and HYCM?

Oanda provides traders with 126 instruments. This includes 45 currency pairs, cryptocurrencies, and stocks and shares. With Oanda, you cannot 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.

Markets and Products

Which broker offers the best trading platform, Oanda 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.

Oanda 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 HYCM has more.

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

Research Tools

Which is better for beginners, Oanda 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 HYCM is the better broker for beginner traders as it offers a larger range of educational tools and materials. HYCM also has a minimum deposit of $.

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 Oanda and HYCM reviews.

Oanda vs HYCM
Oanda
90
Points
HYCM
92.8
Points
Overall
2 points
Oanda
Points
HYCM
95
Points
Commissions & Fees
95 points
Oanda
Points
HYCM
99
Points
Licensing & Safety
99 points
Oanda
Points
HYCM
87
Points
Trading Platforms & Tools
87 points
Oanda
Points
HYCM
92
Points
Payments
92 points
Oanda
Points
HYCM
95
Points
Customer Service
95 points
Oanda
Points
HYCM
89
Points
Educational
89 points
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