HYCM vs Swissquote: Which One is Better for You?


HYCM vs Swissquote, which one is better? Both brokers are often compared to each other to find which one comes out to be the better one. What many traders may not comprehend is that the best choice may differ for every one of them, and there's nothing wrong with it. To make it easier for you to decide which one is the best between HYCM vs Swissquote, here is the direct comparison:

Feature
Go to HYCM

Go to Swissquote

Rating

General Rating 4.47/5
3.46/5
Trustpilot 4.4/5

rated by 128 users
3.7/5

rated by 150 users

General Information

Office(s) Hong Kong, United Arab Emirates and United Kingdom Hong Kong, Switzerland, United Arab Emirates and United Kingdom
Regulation Cayman Islands Monetary Authority, 1442313
CySEC 259/14
DFSA (Dubai), 000048
FCA (UK), 186171
FSA (St. Vincent & the Grenadines), 25228
DFSA (Dubai), 4
FCA (UK) 562170
FINMA, 4
SFC (Hong Kong), 3
Established 1977 1996
Minimum Deposit $100 $1000
Maximum Leverage 1:325 1:100
Spread Fixed Fixed
Commissions $4
Minimum Position 0.01 lot 0.1 lot
Payment Credit/debit cards, Neteller, Skrill, WebMoney and Wire transfer Credit/debit cards and Wire transfer
Official Website Visit HYCM Visit Swissquote

Account Variations

Segregated Account
Islamic Account
PAMM Account
Managed Account
LAMM Account
MAM Account
Forex Demo Account

Trading Requirements

Hedging
US traders are welcome
Requires sending documents via postal mail
Overnight interest rates (swaps)
Trading by telephone

Trading Features

Trading contests
Automated trading
Interest rate on funds
Bonus offers
Free education
Personal manager
Affiliate program

Trading Platforms and Complements

Mobile trading
Browser-based platform
Trading via API
One-click trading
Trailing stop
Pending orders
One-Cancels-Other (OCO) orders

Instruments Traded

Forex
CFD
Indexes
Spread betting
Gold & silver
Cryptocurrencies
Stocks
Binary options
Oil
Metals
Energies
Futures
ETF
Soft commodities
Options
Agriculture
Bonds

Customer Support

Website Languages Arabic, Chinese, Russian Arabic, Chinese, English, French, German, Russian, Spanish
Email Support
Call Support
Chat Support

Reviews

General Review Read HYCM Review Read Swissquote Review
User Reviews

Baigy

Aug 10 2020

Tried placing a position on MT5 and the order takes long to process and sometime it keep asking for re quote. Spread are bit too much for buying positions. This is just the demo I wonder how many problems I’ll have with real account. It’s very important to have good server otherwise it’s useless to trade.


Berk Samanci

Aug 8 2020

I trade with HYCM long enough to have a full opinion. Broker has good regulation, good spreads and excellent reputation. My experience confirms that all this is not for nothing and the broker is really good, so I can recommend it.


Ranjani

Aug 8 2020

The broker works on mistakes. I talked to one of the managers and I didn't like the way of the conversation, as I felt that the manager was NOT interested in me starting to trade with my $500. In other words, the manager was speaking to me in a passive way.
I understand that this broker has traders with large deposits and my deposit is not very important for it, but I don't expected such attitude. Btw I requested a withdrawal and received it in four hours.


Fadil

Aug 6 2020

terrible , they play with spread and widen it in unfair way , specially if they see you wining. i dont recommend dealing with


Barta Dabukke

Aug 5 2020

Personally, I liked HYCM right away. It certainly doesn't mean that I started trusting it immediately and instantly opened an account here. At first I checked the brokerage, the reviews on the web about it were more positive than negative or neutral. Then I looked at the broker's trading conditions. And these conditions with positive reviews convinced me that it is worth trying what my trading with HYCM will be like. In general, I'm satisfied and will continue to trade with this brokerage, as it didn't give me reason to doubt it.


Pintar Tangier

Aug 2 2020

This broker is all about respect and everything is designed in the way, when you respect the brokerage and feel that it respects you as well. Of course, spreads aren't the lowest that you can find, but it compensates with stable multiple-regulations, more than 40 years history and a lot of awards. Maybe some traders don't like awards, but for me this is not just trinkets, but the sign of broker's reliability.


Prinsloo

Aug 1 2020

I trade in the mood for pleasure, sometimes it turns out to be a plus, sometimes it turns out to be a minus. This broker was chosen at random. A few years ago. When I go out on the plus side, I sometimes withdraw money in small amounts, I do not earn large sums here, but as well I have never experienced problems with withdrawals.


Giulio Damiani

Jul 31 2020

For a broker it's just a way to attract additional clients and for the company it costs practically nothing.
Yes, I agree that trading with a broker is good, but I feel that a broker is designed for people with a rich wallet, I feel uncomfortable here. I can't even explain the reason, but that's my opinion.


Lam AW

Jul 30 2020

I trade it for 3 years and can get positive feedback only - mininimum deposit starts at 100 dollars. brokerage is 100% regulated, no slippages, lags or occasions, withdrawals take 2-3 days, never more.


Kazibwe

Jul 29 2020

The conditions of this company are really good for me.
There are no problems with withdrawal of funds, I have tried different payment systems.


Tony Coleman

Jul 22 2020

HYCM is one of the reliable forex brokers. I have been trading at HYCM this year and there are no problems. Quick execution, tight spreads, withdrawals around 6 days, not bad for me. From the several brokers I have used, the HYCM platform is the most simple one. Although sometimes it went wrong, it doesn't matter either hahahaa...


Jadih Ruth

Sep 7 2020

Live chat support - terrible. The guy there doesn't know much, plus their policy on not helping people over the chat is also terrible. They can't help you with almost anything over the chat. Typical response you get is- send email to support@swissquote.ch and they will be able to help you. Even when you are asking about very basic stuff, like informations about their products. And when you send email, you will wait 3-4 days for response.


Basalamah

Sep 6 2020

They (or their payment vendors) charge high fees, like 2% just for deposit. Only free option is bank wire transfer. You also pay for withdrawals $20 for each withdrawal. So you lost money (and time) with this broker before you even made your first trade. Spreads - Terrible. Double the standard spreads of other popular brokers on all instruments at all times.


Michael

Sep 5 2020

Stay away from this low quality market maker. Account opening - pain in the ass. Too complicated and long process. First you have to either speak with them on cam chat, or send them your documents by mail. Then pain in the ass starts by trying to actually log in to your account. Their chat shuts down when you swith pages on their website, so the support cannot navigate you throughout this process. I spent 1 hour on the phone with their support before I was finaly able to login to my newly opened account. All this takes days.


Charles Martel

Sep 4 2020

When I tried to open an account, I had to do a video identification, which is fine, but at first it would not connect, then they were to busy. When I finally got connected, I was interacting with someone that spoke English like a 2 year old. After which I was email personal questions that I would never answer, I reply that I would not answer these ridiculous questions and that I was declining them.


Jack

Sep 3 2020

Before I had even finished opening my account I had a very rude phone call from a man trying to get me to finish opening my account or something. Was not feeling comfortable so tried to end the conversation instead was told if I could not deposit £1000 pounds right then I may aswell not open the account, or something along those lines his English wasn't great. Amazing the lack of good customer service.


Sahmad01

Sep 2 2020

For UAE Client, they have no live chat service and also no one pick phone call and if someone come on live chat then they do not provide any details or don't help on chat, just share support email details, then why they have live chat service. They have very bad withdrawal policy.


Forexjunkie

Sep 1 2020

Bad experience with unethical agent. They are breaking the agreement but they don't want to take responsibility.


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Which one has the better spread?

Considering that spread is a trading cost, the lower the spread, the better it is for traders. However, spread information among brokers is not easy to get, as not every broker transparently publishes their spreads data.

However, traders can still choose their ideal brokers by the type of their spreads. The most two popular types of spread are fixed and variable. The pros and cons between the two spreads can vary for every trader. In this case, HYCM provides their pricing with Fixed while Swissquote offers Fixed.



HYCM vs Swissquote: Who hosts the best trading platform?

The trading platform is essential as you can't execute a trade without it. Additionally, trading platforms provide price charts and an assortment of analytical tools to help traders with their strategies.

To support their clients, HYCM enables trading with MetaTrader 4, MetaTrader 5. The offer is supported with Mobile trading, Browser-based platform, One-click trading, Trailing stop, Pending orders, One-Cancels-Other (OCO) orders. In comparison, Swissquote provides trading with MetaTrader 4 (Limited with 30 days), MetaTrader 5 (Limited with 30 days), Advanced Trader (Limited with 30 days) with the support of Browser-based platform, Trading via API, One-click trading, Trailing stop, Pending orders.



Is HYCM or Swissquote better in providing the trading instruments?

It is widely known that forex brokers offer other trading instruments other than currency pairs. The offer gives interesting choices for traders to explore other markets that may be proven beneficial for them and to diversify their trading portfolios.

In this case, HYCM supports trading with Forex, Stocks, Indexes, Soft commodities, Metals, Energies, Cryptocurrencies, while Swissquote presents the ability of trading with Forex, Gold & silver, Stocks, Options, Indexes, Cryptocurrencies, CFD.

In conclusion, deciding the better broker eventually comes down to your consideration. If you are an active trader, it is better to choose a broker with a variable spread that is generally lower than the fixed one. For the trading platform, MetaTrader 4 is the standard choice for every trader. But if you want to have a different experience with a more advanced platform, choose the broker that provides alternative platforms. The same goes for trading instruments; if you want to try delving into different markets, seek for a broker with more options on trading instruments.

Looking for more references? Here are other comparisons related to HYCM and Swissquote:

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