IronFX opened for business in Cyprus in 2010 and has now expanded into more than 180 countries. In addition to EU regulation through the Cyprus Securities and Exchange Commission (CySEC), they are licensed as a registered investment firm in the United Kingdom, Australia, and South Africa. IronFX has closed down operations in China, Russia, and Nigeria in recent years, focusing client development in more traditional venues.
|#||Broker's Features||HYCM Availability||FXPRO Availability|
|#||Accepts US traders||❌||❌|
|#||24 hour trading||❌||✔|
|#||Trading by phone||❌||❌|
|#||1st deposit bonus||❌||❌|
|#||Forex contests competitions||❌||❌|
|#||Interest charges on the balance||❌||❌|
|#||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 Fxpro.
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 Fxpro offers Forex, Spot Metals, CFDs on commodities, indices and shares, futures, Cryptocurrencycurrency.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. HYCM is Market Maker, ECN, STP, while Fxpro is STP.
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 Fxpro has a Minimum Deposit Requirement of 100.
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 Fxpro regulated by CySec, FCA, ASIC, FSCA. 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 Fxpro offers USD, EUR, GBP, AUD, JPY, CHF, PLN, RUB, CZK, HUF, BTC account currencies.
Languages Available: Next lets have a look at each broker's different Language options. HYCM offers English, Chinese, Russian, Arabic, Indian, while Fxpro offers Arabic, Czech, German, English, Spanish, French, Italian, Japanese, Korean, Polish, Portuguese, Russian, Chinese 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 Fxpro offers Credit/Debit Cards, Neteller, Skrill, Bank Wire Transfer, Ecommpay, Webmoney 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 Fxpro offers MT4, MT5.
There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.
Objectively, Fxpro is more reliable based on our criteria above. Only Fxpro offers demo account, allowing you to test their platform to see which is suitable for you. Fxpro offers a wider range of platforms making it easier for the traders to choose one that matches their needs most. Fxpro 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. Fxpro has a wider range of languages in which customer service is offered making the broker more accessible.
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.