Plus500 vs HYCM Broker Comparison
Are you trying to figure out which is a better broker, Plus500 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 Plus500 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 Plus500.
Does Plus500 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 Plus500 and HYCM are, we first considered the common fees on Standard Accounts. At Plus500 the average spread for the EUR/USD currency pair is 0.7 pips, whilst at HYCM the spread is 1.8.
This shows that Plus500 is the better option for low-cost forex trading.
When it comes to non-trading fees, Plus500 charges for inactivity. HYCM charges for inactivity. With this in mind, both brokers offer similar non-trading fees.
When our experts analyzed the specific costs of both brokers, we found that is the better option.
*Based on Standard account type.
Which broker is safer, Plus500 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.
Plus500 is regulated by FCA, CySec, FSCA, ASIC and offers client protection. HYCM is regulated by FCA, CySec, CIMA 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.
How many trading instruments are available at Plus500 and HYCM?
Plus500 provides traders with 2,000+ instruments. This includes 71 currency pairs, 13 (availability subject to regulations) cryptocurrencies, and 1000 stocks and shares. With Plus500, 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, Plus500 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.
Plus500 provides you with the ability to trade via 2 trading platforms, and HYCM has 3 trading platforms. Both brokers also offer research and trading tools, however HYCM has more.
Overall, our experts agree that HYCM boasts the better trading platform offering.
Which is better for beginners, Plus500 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 $.