Compare forex brokers HYCM VS Forexct

If you're choosing between HYCM and Forexct forex brokers, we've compared hundreds of data points side-by-side to make finding the right broker for you easier. Is HYCM better than Forexct? After assessing the two forex brokers on nearly 50 different variables, we would be able to get into an informed conclusion.

HYCM VS FOREXCT

ForexCT
ForexCT Overview

ForexCT is an Australian fixed spread broker that offers Forex and CFDs for trading over the internet. With a minimum deposit of $500, a maximum leverage of 1:400 and dealing spreads starting at 2 pips.

HYCM
HYCM Overview

HYCM are part of the global conglomerate Henyep Group which handle a wide range of financial services. Therefore, investors are guaranteed to be choosing a broker that has a strong pedigree within the industry thanks to their 30 years of experience.

# Broker's Features HYCM Availability FOREXCT Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will compare HYCM vs Forexct.

Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. HYCM offers Online Financial Trading and Investment Services Such as Currencies, indices, commodities, Stocks, Cryptocurrencycurrency, while Forexct offers Currencies, Commodities, Indices, Stocks, Cryptocurrency, Futures.

Broker Type: Many types of brokers can be found in the most dynamic market in the world. HYCM is Market Maker, ECN, STP, while Forexct is Market Maker.

Minimum Deposit Requirement: To compare these two FX brokers, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. HYCM recommended minimum capital is 100, while Forexct has a Minimum Deposit Requirement of .

Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. HYCM is regulated by CySEC, FCA, MiFID, DFSA, SFC, while Forexct regulated by ASIC. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Account currencies: Next lets consider the Account currencies each broker offers. HYCM offers EUR, USD, GBP, AED, RUB, KWD different account currencies for each account types, while Forexct offers account currencies.

Languages Available: Next lets have a look at each broker's different Language options. HYCM offers English, Chinese, Russian, Arabic, Indian, while Forexct offers English Customer Support Languages.

Payment methods: Next lets have a look at each broker's payment options. HYCM offers Credit/Debit Cards, PayPal, Bank Wire Transfer, WebMoney, Bitcoin different payment methods for each account types, while Forexct offers Credit/Debit Cards, Bank Wire Transfer payment methods.

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, HYCM makes MT4 available to clients, while Forexct offers PROfit.

The Verdict: HYCM or Forexct?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, HYCM is more reliable based on our criteria above. HYCM has a wider range of instruments to trade giving you the flexibility to get access and exposure to a wide range of markets. Regulations play a huge role in protecting the traders/investors interest as they compel the financial service providers such as forex brokers to act in a fair and ethical manner. HYCM broker is regulated in more major hubs. Only HYCM Offers the MetaTrader Platform. MetaTrader platform is a comprehensive trading platform that is often touted as being the best for forex trading. A popular, versatile and unique tool. HYCM offers a wider range of platforms making it easier for the traders to choose one that matches their needs most. HYCM offers a wider range of Account currencies. Why does base currencies matter? Because if you fund your account in the same currency as your bank account, currency conversion fees won't be charged. Customer service in your national language might not be a major concern for traders based in English-speaking countries, but it is a defining requirement for traders from other regions such as Asia and South America. HYCM has a wider range of languages in which customer service is offered making the broker more accessible. One of the criteria we looked at before opening an account on a forex broker is the minimum deposit amount. HYCM broker offers lower minimum deposit requirement. As HYCM offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades. As a market maker, HYCM may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades. Only HYCM provides training and education resources which is extremely critical to beginner traders who may not be familiar with most of what goes on in the Forex markets.

Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Broker based on your precise requirements here.

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