IronFX vs HYCM: Which One is Better for You?


IronFX vs HYCM, 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 IronFX vs HYCM, here is the direct comparison:

Feature
Go to IronFX

Go to HYCM

Rating

General Rating 3.48/5
4.47/5
Trustpilot 3.1/5

rated by 131 users
4.4/5

rated by 128 users

General Information

Office(s) Australia, Cyprus, Czech Republic, South Africa, Spain and United Kingdom Hong Kong, United Arab Emirates and United Kingdom
Regulation ASIC 417482
CySEC, 125/10
FCA (UK), 585561
FSCA (South Africa), 45276
Cayman Islands Monetary Authority, 1442313
CySEC 259/14
DFSA (Dubai), 000048
FCA (UK), 186171
FSA (St. Vincent & the Grenadines), 25228
Established 2010 1977
Minimum Deposit $100 $100
Maximum Leverage 1:30 1:325
Spread Variable Fixed
Commissions $18 $4
Minimum Position 0.01 lot 0.01 lot
Payment Bitcoin, Credit/debit cards, Ethereum, FasaPay, Local bank transfer, Neteller, Perfect Money, Skrill, UnionPay and Wire transfer Credit/debit cards, Neteller, Skrill, WebMoney and Wire transfer
Official Website Visit IronFX Visit HYCM

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, Czech, Dutch, English, French, German, Greek, Indonesian, Italian, Japanese, Korean, Malay, Persian, Portuguese, Russian, Spanish Arabic, Chinese, Russian
Email Support
Call Support
Chat Support

Reviews

General Review Read IronFX Review Read HYCM 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...


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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, IronFX provides their pricing with Variable while HYCM offers Fixed.



IronFX vs HYCM: 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, IronFX enables trading with MetaTrader 4, MetaTrader 5. The offer is supported with Mobile trading, One-click trading, Trailing stop, Pending orders. In comparison, HYCM provides trading with MetaTrader 4, MetaTrader 5 with the support of Mobile trading, Browser-based platform, One-click trading, Trailing stop, Pending orders, One-Cancels-Other (OCO) orders.



Is IronFX or HYCM 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, IronFX supports trading with Forex, while HYCM presents the ability of trading with Forex, Stocks, Indexes, Soft commodities, Metals, Energies, Cryptocurrencies.

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 IronFX and HYCM:

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