Is HYCM better than IC Markets? In our analysis of 23 international regulators across 50 brokers, HYCM is considered average-risk, with an overall Trust Score of 84 out of 99. IC Markets is considered average-risk, with an overall Trust Score of 85 out of 99. Learn more about Trust Score.
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IC Markets vs HYCM 2021
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall Rating
| Feature | IC Markets | HYCM |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading | ||
| Research | ||
| Education | ||
| Trust Score | 85 | 84 |
| IC Markets Review | HYCM Review | |
| 74-89% of retail CFD accounts lose money | 72% of retail CFD accounts lose money |
Regulation
| Feature | IC Markets | HYCM |
| Trust Score | 85 | 84 |
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Year Founded |
2007 | 1977 |
|
Publicly Traded (Listed) |
No | No |
|
Bank |
No | No |
|
Tier-1 Licenses |
1 | 2 |
|
Tier-2 Licenses |
1 | 2 |
|
Tier-3 Licenses |
1 | 1 |
|
Authorised in the European Union |
No | Yes |
Tier-1 Licenses (High Trust)
| Feature | IC Markets | HYCM |
|
ASIC Authorised (Australia) |
Yes | No |
|
IIROC Authorised (Canada) |
No | No |
|
SFC Authorised (Hong Kong) |
No | Yes |
|
FSA Authorised (Japan) |
No | No |
|
MAS Authorised (Singapore) |
No | No |
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FINMA Authorised (Switzerland) |
No | No |
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FCA Authorised (UK) |
No | Yes |
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CFTC Registered (USA) |
No | No |
Tier-2 Licenses (Average Trust)
| Feature | IC Markets | HYCM |
|
CBRC Authorised (China) |
No | No |
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CySEC Authorised (Cyprus) |
Yes | Yes |
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CBI Authorised (Ireland) |
No | No |
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ISA Authorised (Israel) |
No | No |
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FMA Authorised (New Zealand) |
No | No |
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CBR Authorised (Russia) |
No | No |
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FSCA Authorised (South Africa) |
No | No |
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SEC Authorised (Thailand) |
No | No |
Tier-3 Licenses (Low Trust)
| Feature | IC Markets | HYCM |
| SCB Authorised (Bahamas) | Yes | No |
| IFSC Authorised (Belize) | No | No |
| BMA Authorised (Bermuda) | No | No |
|
FSC Authorised (British Virgin Islands) |
No | No |
|
FSC Authorised (Mauritius) |
No | No |
Investments
| Feature | IC Markets | HYCM |
|
Forex Trading |
Yes | Yes |
|
CFD Trading |
Yes | Yes |
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Tradeable Symbols (Total) |
3583 | 245 |
|
Forex Pairs (Total) |
61 | 71 |
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US Stock Trading (Non CFD) |
No | No |
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Int'l Stock Trading (Non CFD) |
No | Yes |
|
Cryptocurrency (Physical) |
No | No |
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Cryptocurrency (CFD) |
Yes | Yes |
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Social Trading / Copy-Trading |
Yes | No |
Cost
| Feature | IC Markets | HYCM |
|
Average Spread EUR/USD - Standard |
0.62 (August 2021) | 2 |
|
All-in Cost EUR/USD - Active |
0.8 (August 2021) | 1.1 |
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Active Trader or VIP Discounts |
Yes | Yes |
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Execution: Agency Broker |
Yes | Yes |
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Execution: Market Maker |
Yes | Yes |
Funding
| Feature | IC Markets | HYCM |
|
Minimum Deposit |
$200 | $100 |
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Bank Wire (Deposit/Withdraw) |
Yes | Yes |
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Visa/Mastercard (Credit/Debit) |
Yes | Yes |
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PayPal (Deposit/Withdraw) |
Yes | No |
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Skrill (Deposit/Withdraw) |
Yes | Yes |
Trading Platforms
| Feature | IC Markets | HYCM |
|
Proprietary Platform |
No | No |
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Desktop Platform (Windows) |
Yes | Yes |
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Web Platform |
Yes | Yes |
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Social Trading / Copy-Trading |
Yes | No |
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MetaTrader 4 (MT4) |
Yes | Yes |
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MetaTrader 5 (MT5) |
Yes | Yes |
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cTrader |
Yes | No |
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DupliTrade |
No | No |
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ZuluTrade |
Yes | No |
Trading Tools
| Feature | IC Markets | HYCM |
|
Virtual Trading (Demo) |
Yes | Yes |
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Alerts - Basic Fields |
Yes | Yes |
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Watchlists - Total Fields |
(Default MT4/MT5/cTrader) | MetaTrader (Default) |
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Charting - Indicators / Studies (Total) |
(Default MT4/MT5/cTrader) | MetaTrader (Default) |
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Charting - Drawing Tools (Total) |
(Default MT4/MT5/cTrader) | MetaTrader (Default) |
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Charting - Trade From Chart |
Yes | Yes |
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Charting - Drawings Autosave |
Yes | No |
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Order Type - Trailing Stop |
Yes | Yes |
Mobile Trading
| Feature | IC Markets | HYCM |
|
Android App |
Yes | Yes |
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Apple iOS App |
Yes | Yes |
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Alerts - Basic Fields |
Yes | Yes |
|
Watch List |
Yes | Yes |
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Watch List Syncing |
No | No |
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Charting - Indicators / Studies |
(default MT4/MT5/cTrader) | (Default MT4) |
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Charting - Draw Trendlines |
Yes | Yes |
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Charting - Trendlines Moveable |
No | No |
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Charting - Multiple Time Frames |
Yes | Yes |
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Charting - Drawings Autosave |
No | Yes |
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Forex Calendar |
No | Yes |
Research
| Feature | IC Markets | HYCM |
|
Daily Market Commentary |
Yes | Yes |
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Forex News (Top-Tier Sources) |
Yes | Yes |
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Weekly Webinars |
No | Yes |
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Autochartist |
Yes | No |
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Trading Central (Recognia) |
Yes | Yes |
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Delkos Research |
No | No |
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Social Sentiment - Currency Pairs |
Yes | No |
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Economic Calendar |
Yes | Yes |
Education
| Feature | IC Markets | HYCM |
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Has Education - Forex or CFDs |
Yes | No |
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Client Webinars |
No | Yes |
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Client Webinars (Archived) |
Yes | Yes |
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Videos - Beginner Trading Videos |
No | Yes |
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Videos - Advanced Trading Videos |
No | No |
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Investor Dictionary (Glossary) |
Yes | Yes |
Major Forex Pairs
| Feature | IC Markets | HYCM |
|
GBP/USD |
Yes | Yes |
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USD/JPY |
Yes | Yes |
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EUR/USD |
Yes | Yes |
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USD/CHF |
Yes | Yes |
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USD/CAD |
Yes | Yes |
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NZD/USD |
Yes | Yes |
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AUD/USD |
No | Yes |
Overall
| Feature | IC Markets | HYCM |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading | ||
| Research | ||
| Education | ||
| Trust Score | 85 | 84 |
| IC Markets Review | HYCM Review |
Comparing forex brokers side by side is no easy task. For our 2021 annual forex broker review, we spent hundreds of hours assessing 27 forex and CFD brokerages to find the best forex broker. Let's compare HYCM vs IC Markets.
Does HYCM or IC Markets offer lower pricing?
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, IC Markets offers better pricing overall for traders.
Is HYCM or IC Markets safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 20 international regulator databases. Here's our findings. HYCM holds 2 global Tier-1 licenses, while IC Markets holds 1. HYCM holds 2 global Tier-2 licenses, while IC Markets holds 1. In our analysis of 23 international regulators across 50 brokers, IC Markets earned a higher Trust Score than HYCM.
Which trading platform is better: HYCM or IC Markets?
To compare the trading platforms of both HYCM and IC Markets, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, IC Markets offers a better experience. With research, HYCM offers superior market research. Finally, we found IC Markets to provide better mobile trading apps.
What about MetaTrader and copy trading?
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. While IC Markets offers copy trading, HYCM does not. Both HYCM and IC Markets offer MetaTrader 4 (MT4).
How many forex pairs and CFDs are available to trade?
HYCM provides traders 71 currency pairs (e.g., EUR/USD) compared to IC Markets's 61 available pairs. Forex pairs aside, IC Markets offers traders access to 3583 CFDs while HYCM has 245 available CFDs, a difference of 3,338.
Can I trust HYCM?
HYCM is not publicly traded and does operate a bank. HYCM is authorised by two tier-1 regulators (high trust), two tier-2 regulators (average trust), and one tier-3 regulator (low trust). HYCM is authorised by the following tier-1 regulators: Securities Futures Commission (SFC) and Financial Conduct Authority (FCA).
Can I trust IC Markets?
IC Markets is not publicly traded and does not operate a bank. IC Markets is authorised by one tier-1 regulator (high trust), one tier-2 regulator (average trust), and one tier-3 regulator (low trust). IC Markets is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC).
Is HYCM good?
While its storied history is impressive, when it comes to trading forex and CFDs across its global brands, HYCM fails to impress. Effective spreads are high across all account options, and research and education are sub-par when compared to industry leaders.
Is IC Markets good?
IC Markets caters exceptionally-well to algorithmic traders through its commission-based accounts. That said, the range of markets, and research materials offered by IC Markets are not as impressive.
Overall winner: IC Markets
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Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published website as of 12/14/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.
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