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HYCM vs OctaFX 2021

Is HYCM better than OctaFX? 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. OctaFX is considered high-risk, with an overall Trust Score of 59 out of 99. Learn more about Trust Score.


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.

Overall Rating

Feature HYCM OctaFX
Overall 3.5 3.5
Commissions & Fees 3.5 4
Offering of Investments 3 3
Platforms & Tools 3.5 3.5
Mobile Trading 3.5 3.5
Research 3.5 3
Education 3.5 3
Trust Score 84 61
HYCM Review OctaFX Review
72% of retail CFD accounts lose money 54.54% of retail CFD accounts lose money

Regulation

Feature HYCM OctaFX
Trust Score 84 61
Year Founded
1977 2011
Publicly Traded (Listed)
No No
Bank
No No
Tier-1 Licenses
2 0
Tier-2 Licenses
2 1
Tier-3 Licenses
1 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses (High Trust)

Feature HYCM OctaFX
ASIC Authorised (Australia)
No No
IIROC Authorised (Canada)
No No
SFC Authorised (Hong Kong)
Yes No
FSA Authorised (Japan)
No No
MAS Authorised (Singapore)
No No
FINMA Authorised (Switzerland)
No No
FCA Authorised (UK)
Yes No
CFTC Registered (USA)
No No

Tier-2 Licenses (Average Trust)

Feature HYCM OctaFX
CBRC Authorised (China)
No No
CySEC Authorised (Cyprus)
Yes Yes
CBI Authorised (Ireland)
No No
ISA Authorised (Israel)
No No
FMA Authorised (New Zealand)
No No
CBR Authorised (Russia)
No No
FSCA Authorised (South Africa)
No No
SEC Authorised (Thailand)
No No

Tier-3 Licenses (Low Trust)

Feature HYCM OctaFX
SCB Authorised (Bahamas) No 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 HYCM OctaFX
Forex Trading
Yes Yes
CFD Trading
Yes Yes
Tradeable Symbols (Total)
245 52
Forex Pairs (Total)
71 28
US Stock Trading (Non CFD)
No No
Int'l Stock Trading (Non CFD)
Yes No
Cryptocurrency (Physical)
No No
Cryptocurrency (CFD)
Yes Yes
Social Trading / Copy-Trading
No Yes

Cost

Feature HYCM OctaFX
Average Spread EUR/USD - Standard
2 0.6 (August 2021)
All-in Cost EUR/USD - Active
1.1 N/A
Active Trader or VIP Discounts
Yes No
Execution: Agency Broker
Yes Yes
Execution: Market Maker
Yes Yes

Funding

Feature HYCM OctaFX
Minimum Deposit
$100 $25
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
No No
Skrill (Deposit/Withdraw)
Yes Yes

Trading Platforms

Feature HYCM OctaFX
Proprietary Platform
No Yes
Desktop Platform (Windows)
Yes Yes
Web Platform
Yes Yes
Social Trading / Copy-Trading
No Yes
MetaTrader 4 (MT4)
Yes Yes
MetaTrader 5 (MT5)
Yes Yes
cTrader
No No
DupliTrade
No No
ZuluTrade
No No

Trading Tools

Feature HYCM OctaFX
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
MetaTrader (Default) MetaTrader (Default)
Charting - Indicators / Studies (Total)
MetaTrader (Default) MetaTrader (Default)
Charting - Drawing Tools (Total)
MetaTrader (Default) MetaTrader (Default)
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
No Yes
Order Type - Trailing Stop
Yes Yes

Mobile Trading

Feature HYCM OctaFX
Android App
Yes Yes
Apple iOS App
Yes Yes
Alerts - Basic Fields
Yes Yes
Watch List
Yes Yes
Watch List Syncing
No No
Charting - Indicators / Studies
(Default MT4) MetaTrader (Default)
Charting - Draw Trendlines
Yes Yes
Charting - Trendlines Moveable
No No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes Yes
Forex Calendar
Yes Yes

Research

Feature HYCM OctaFX
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
Yes Yes
Autochartist
No Yes
Trading Central (Recognia)
Yes No
Delkos Research
No No
Social Sentiment - Currency Pairs
No No
Economic Calendar
Yes Yes

Education

Feature HYCM OctaFX
Has Education - Forex or CFDs
No Yes
Client Webinars
Yes Yes
Client Webinars (Archived)
Yes Yes
Videos - Beginner Trading Videos
Yes Yes
Videos - Advanced Trading Videos
No No
Investor Dictionary (Glossary)
Yes Yes

Major Forex Pairs

Feature HYCM OctaFX
GBP/USD
Yes Yes
USD/JPY
Yes Yes
EUR/USD
Yes Yes
USD/CHF
Yes Yes
USD/CAD
Yes Yes
NZD/USD
Yes Yes
AUD/USD
Yes Yes

Overall

Feature HYCM OctaFX
Overall 3.5 3.5
Commissions & Fees 3.5 4
Offering of Investments 3 3
Platforms & Tools 3.5 3.5
Mobile Trading 3.5 3.5
Research 3.5 3
Education 3.5 3
Trust Score 84 61
HYCM Review OctaFX 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 OctaFX.

Does HYCM or OctaFX 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, OctaFX offers better pricing overall for traders.

Is HYCM or OctaFX 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 OctaFX holds 0. HYCM holds 2 global Tier-2 licenses, while OctaFX holds 1. In our analysis of 23 international regulators across 50 brokers, HYCM earned a higher Trust Score than OctaFX.

Which trading platform is better: HYCM or OctaFX?
To compare the trading platforms of both HYCM and OctaFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, HYCM offers a better experience. With research, HYCM offers superior market research. Finally, we found HYCM 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 OctaFX offers copy trading, HYCM does not. Both HYCM and OctaFX 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 OctaFX's 28 available pairs. Forex pairs aside, HYCM offers traders access to 245 CFDs while OctaFX has 52 available CFDs, a difference of 193.

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 OctaFX?
OctaFX is not publicly traded and does not operate a bank. OctaFX is authorised by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust).

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 OctaFX good?
OctaFX offers traders a mostly vanilla MetaTrader and cTrader trading platforms experience. Beyond its European license in Cyprus, OctaFX lacks regulation in major jurisdictions, which puts it at a severe disadvantage compared to other trusted forex brokers.

Overall winner: HYCM

Read Next: Best Forex Brokers 2021


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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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