Compare HYCM Versus ETORO and IC Markets broker accounts.
Compare HYCM Vs eToro Side by Side
So you are looking for a broker, HYCM or eToro who should you choose?
When trading on financial markets you will want to know all about who HYCM or eToro are, and how they compare. You will naturally want to know how long HYCM and eToro have been in business and what reputation HYCM and eToro have. On top of this, you will need to discover if HYCM and eToro match your trading needs.
Having a reputable and dependable broker is crucial to your trading. The reason for this is quite a simple one You need to be sure in the knowledge that your money is in a segregated bank account with a financially regulated broker. Let us see how HYCM and eToro compare.
Well in our side by side comparison we make it easier for you to see what is right for you. As with anything the final decision on which broker to trade with should ultimately be based on what and how you going to trade.
Our comparison will help you judge the effectiveness, price, ease of use and support trustworthiness of HYCM and eToro side by side.
If you're itching to start trading, we can assist you in making a well-informed decision when comparing HYCM and eToro. By comprehensively comparing HYCM and eToro features and services, you can choose a trading platform that best suits your needs and preferences. We aim to equip you with the knowledge to make an educated decision and feel confident in your trading journey with HYCM, eToro or an alternative broker.
Our Comparebrokers.co team has painstakingly spent months assessing different brokers accounts. We collected over 1200 data points on HYCM and eToro. To simplify things, we analyzed everything for you and provide the main points in relevant blocks on this page.
Regulation alongside currency availability is important when deciding upon a broker. It is very important when selecting a broker like the HYCM platform or eToro, you can trust with your money with them. To finish off our comparison, let's look at the popular tools and features traders prefer side by side.
The HYCM online trading platform gives traders from all over the world access to over 100
financial instruments including over 5,000 available instruments. There are over 10,000+ registered customers that have taken advantage
of the HYCM platform.
HYCM are regulated by Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048.
eToro is a renowned Cyprus, UK financial trading brokerage
established in 2007.
eToro serves customers globally and are regulated by FCA (Financial Conduct Authority) Etoro (Europe) Limited FCA reference 523775, eToro (UK) Ltd FCA reference 583263, ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), MiFID (Markets In Financial Instruments Directive), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076.
Depending on the country you are trading from HYCM may serve you from a
different business entity to comply with its financial regulators.
eToro is listed as a publically traded company on a major stock market. As part of their regulatory requirements eToro has to disclose a yearly report publically.
Because of this extra level of auditing and regulation eToro can be considered trustworthy. HYCM is not listed as a PLC.
eToro is a popular well known financial trading platform serving over 30,000,000 customers.
Benefits of HYCM and eToro Compared
Below, we will give you a summary of the benefits HYCM and eToro offer side by side.
HYCM offers a minimum deposit of 100 while eToro have a 50 minimum deposit.
Why smaller trading deposits are good and how HYCM and eToro compare
One primary and self-evident factor to remember is that you must only deposit an amount that fits your financial capacity with either HYCM or eToro. If you have limited financial resources, the broker with the most affordable deposit option will be more appealing. HYCM requires a minimum deposit of 100, whereas eToro mandates a minimum deposit of 50.
One additional factor to consider while venturing into more precarious yet potentially lucrative financial instruments is to limit your speculation to a modest proportion of your designated trading funds.
It's advisable not to be deterred by a broker's higher minimum deposit, whether it's HYCM or eToro, and instead focus on the comprehensive trading features offered by their platform. Frequently, a higher minimum deposit provides access to a wider range of financial assets and research tools on the trading platform.
HYCM allows traders to trade up to 100 financial instruments
while eToro have around 5,000 on their trading platform.
The more instruments available on HYCM and eToro trading platforms
the more potential financial instruments you can buy or sell for your portfolio.
It is good to have a diverse portfolio and the options available to a user will always vary. Trading is all about grasping potential opportunities
and you seriously do not want to miss out on a trading opportunity due to the limitations of HYCM or eToro.
The HYCM trading platform has 10 stocks listed
while eToro has 2,042 stocks listed.
HYCM allows retail traders to trade the following assets Forex, CFDs on the HYCM MT4, Tablet & Mobile apps trading platforms.
Alternatively eToro allows retail traders to trade Social Trading, Stocks, Commodities, Indices, Forex (Currencies), CFDs, Cryptocurrency, Exchange Traded Funds (ETF), Index Based Funds on the eToro Web Trader, Tablet & Mobile apps trading platforms.
Compare HYCM and eToro in more detail below.
Drawbacks of HYCM and eToro Compared
Below we compare what drawbacks HYCM and eToro have side by side.
Various potential downsides can be associated with certain brokers, including HYCM and eToro. One primary drawback is the potential restrictions that may be imposed. Generally, the more diverse investment options available, the more favourable the situation. Another critical aspect to consider is the trading fees and commissions charged by HYCM compared to eToro. High trading fees and commissions can significantly impact potential profits. Additionally, essential factors to consider are the quality of trading research tools, educational resources, and the overall user-friendliness of HYCM versus eToro.
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HYCM Vs eToro Available Financial Markets
The saying 'Variety is the spice of life' holds for financial markets. It is always advisable to have a diversified investment portfolio whether trading with HYCM or eToro. A diversified portfolio with HYCM or eToro can safeguard your investments from significant downturns in any particular market. For instance, when one stock rises, others may follow suit.
Conversely, when the market takes a downturn, it can be disastrous for your investments. The most effective investment portfolios cover potential risks and encompass many businesses and stocks. When creating a diverse investment portfolio with brokers like HYCM or eToro, it is recommended to have access to a variety of tradable assets, commodities, and securities on different trading platforms such as HYCM and eToro.
Since the creation of Bitcoin, the world of cryptocurrencies has been booming, including on trading platforms like Both HYCM and eToro, and it's not difficult to see why. Cryptocurrencies have the potential to turn modest investments into millions, although this is a rare occurrence. This feat is hard to achieve compared to other financial instruments like stocks and shares. Both HYCM and eToro offer some form of cryptocurrency trading.
Bitcoin is the most popular cryptocurrency, but thousands of altcoins could experience a similar rise. Altcoins follow the same trajectory as Bitcoin, similar to how stocks rise and fall with the market.
Investing in cryptocurrencies with HYCM or eToro is considered a high-risk venture. The prices of cryptocurrencies can experience extreme highs and lows. If you choose to invest in cryptocurrencies, allocating only a fraction of your portfolio or trading budget to it is essential. Crypto trading with HYCM or eToro could lead to one of the most exciting trades you've ever made, depending on the market. Please remember that cryptocurrency availability on HYCM, eToro, and all brokers are subject to regulation.
We compare HYCM vs eToro Crypto options below side by side.
knowing your trading and commission fees with HYCM vs eToro is extremely important.
For the majority of the HYCM 100 financial instruments
and eToro 5,000 available financial
The price you are being presented with will factor in the fee the broker takes. For example, if a financial asset is at 79.6. You might have to pay 79 to enter. Therefore, you will start with a small loss with HYCM and eToro. The bigger the fee, the bigger the issue is. Most alarmingly, some financial assets charge you to hold on to the asset overnight or over the weekend. Some commodities and stocks you are using leverage on may have overnight charges. Please check your fees with HYCM and eToro before you invest because you must know what you are paying.
You ideally want to choose a broker like HYCM or eToro that does not charge too much for withdrawal fees. High trading fees and commissions will eat into your profits. The fees will be noticeable if you have a low budget and do not intend to invest so much with HYCM or eToro. You want the withdrawal fee to be less than one per cent of what you are withdrawing but, more ideally, $5 to $10.
Your location or residence will have an impact on your potential HYCM and eToro fees, of course. Make sure you do your research and check the commission and fees with both HYCM and eToro before you invest anything.
Some brokers will charge inactivity fees. As the name suggests, this occurs when you have been inactive on your account for a certain period.
Also, with HYCM or eToro be aware of or 3rd party payment provider fees and currency conversion fees.
Both HYCM and eToro do charge inactivity fees.
Numerous notifications are usually sent to you as a reminder of dormant HYCM and eToro accounts, giving you sufficient time to decide on the appropriate course of action. You can opt to continue using your HYCM or eToro account, or choose to close it.
Usually, the associated fees for dormant HYCM or eToro accounts are quite minimal, and there is no need to panic, particularly when the issue can be easily resolved. It's always advisable to keep track of your live HYCM or eToro trading account activity to avoid any unnecessary fees or charges.
When you deposit money to a broker like HYCM or eToro you might need to pay deposit fees. The lower, the better. Most preferably, you would have to pay HYCM or eToro nothing for this. If this is the case, it can be a big problem. Constant deposits will eat into your profit, so this will take some consideration before you sign up.
Let's see how HYCM vs eToro compare side by side for commissions and fees.
We live in an accessible world these days. Therefore, your trading platform has to consider this. The ability to trade with the click of a button is essential and allows you to make trading decisions on the HYCM and eToro platforms when convenient. Without this, you cannot take advantage of every situation that may or may not occur in the financial markets.
Some brokers offer bespoke trading platforms, so if a particular broker does not offer the trading software you are looking for, their proprietary trading platform may be better. You must test this yourself with an HYCM or eToro demo account.
Trading on your mobile with HYCM and eToro can be very useful. Why is this? Well, the stock market sees market movement every second. If you are not near your desktop computer, you will probably be near and have access to your phone and HYCM and eToro mobile trading apps. This way, you can take advantage of all potential trading opportunities mobile trading with HYCM or eToro. For example, a stock might move to an all-time low when you are out. In this instance, having access to mobile trading with HYCM or eToro can help limit your risk and trade on the move.
If you own an iPhone, having an IOS Apple mobile trading app with HYCM or eToro is essential.
Likewise, if you have an android phone, it's crucial to verify if HYCM or eToro broker provides an app compatible with Android devices. If you use Microsoft Windows tablets or phones, you must also check if HYCM and eToro have trading apps compatible with your device.
A demo account with HYCM or eToro is extremely useful for people without trading experience. This way, you risk none of your money and test your trading skills in a safe environment. For people with next to no knowledge of trading, we recommend fully signing up with an HYCM and eToro demo account.
HYCM Vs eToro Micro Account
Micro accounts are trading accounts used by Forex traders that allow them to trade with smaller amounts of capital than standard trading accounts. Micro accounts require a smaller minimum deposit, usually ranging from $1 to $500, and offer smaller trade sizes than standard accounts, allowing traders to manage their risk more effectively.
If you need a micro account check if HYCM or eToro offer micro trading accounts in your region.
Overall, micro accounts provide a flexible and cost-effective way for Forex traders to enter the market and gain valuable trading experience while minimizing risks. However, traders need to remember that Forex trading carries significant risks, and they should always approach trading with caution and sound risk management strategies.
HYCM does offer clients Micro accounts, while eToro does not offer clients Micro accounts.
HYCM Vs eToro Standard Account
A standard account is available on HYCM and eToro to more experienced traders. This account allows users to trade on stocks, commodities, crypto etc. To open one of these retail investor accounts, users must trade with at least $100. Standard trading accounts are what the majority of people will seek to use.
Both HYCM and eToro do offer clients Standard accounts.
HYCM Vs eToro MAM Account
A MAM (Multi-Account Manager) account is typically used by professional traders. It allows a trader to manage multiple individual trading accounts from a single master account, making it easier to execute trades and manage risk across multiple clients. MAM accounts can help streamline the trading process and improve efficiency for trader and their clients. If you need a MAM account check if MAM accounts are available with HYCM or eToro or alternative.
HYCM does offer clients MAM accounts, while eToro does not offer clients MAM accounts.
HYCM Vs eToro ECN Account
The primary purpose of ECN accounts is to provide traders with faster execution speeds and better pricing by connecting them directly to the market. ECN accounts allow traders to exploit the tightest spreads and access the deepest liquidity pools.
ECN accounts are used for fast and efficient trading, with lower transaction costs and greater transparency. While they may not be suitable for all traders, those with the necessary experience and expertise can benefit greatly from using an ECN account.
If you need a ECN account check they are available with HYCM or eToro or alternative.
HYCM and eToro do not offer clients ECN accounts.
HYCM Vs eToro Islamic Account
An Islamic account is for people who respect the Quran and want to invest in the Islamic stock market. Islamic trading accounts might seem very niche, but it is essential for those concerned as it follows certain ethics concerning the principles of Islam. They are also referred to as swap-free accounts.
If you need a Islamic account check they are available with HYCM or eToro or alternative.
Both HYCM and eToro do offer clients Islamic accounts.
HYCM Vs eToro STP Account
Straight Through Processing or STP is where a requested client's trade orders are sent directly to the markets. STP brokers aim to reduce all conflicts of interest. STP is a non-dealing desk trading method aimed mainly at Forex traders.
If you need a STP account check they are available with HYCM or eToro or alternative.
HYCM and eToro do not offer clients STP accounts.
HYCM Vs eToro Managed Account
A managed account is a type of investment account where a professional manager or investment firm is responsible for making investment decisions on behalf of the account owner. The account owner typically retains ownership of the underlying assets but delegates responsibility for managing those assets to the manager.
While some managed accounts require significant investment minimums to access the services of a professional manager, many brokers now offer variations of managed accounts that can be accessed with smaller investment amounts. It's important to note that the fees associated with managed accounts can vary widely depending on the level of service the manager provides and the investment strategy employed. Investors should carefully evaluate the costs and benefits of managed accounts before making an investment decision.
HYCM and eToro do not offer clients Managed accounts.
HYCM and eToro have multiple deposit and withdrawal options. Funding and withdrawing from your HYCM and eToro accounts to your chosen payment method should be straightforward. Lets see how HYCM and eToro compare with each other. Be aware that depending on your payment method, there may be additional processing fees from your payment provider or bank for processing and converting your funds. Not all potential fees will come from HYCM or eToro.
Credit cards, Debit Cards, PayPal, Wire Transfer, Neteller, Neteller VIP, Skrill, UnionPay, Bpay, FasaPay, Broker to Broker, POLI, Thai Internet Banking, RapidPay, Klarna, Vietnamese Internet Banking, Online Digital Wallets, USDT (Tether),
HYCM Vs eToro Customer Support Compared
Customer support is essential when trading. Even professional traders will eventually need the help of HYCM or eToro support. Customer support is especially important for traders starting with little knowledge. If you are starting out, you will want to ensure the HYCM and eToro support is always available when needed. HYCM and eToro customer support is not just useful. broker customer support is crucial to your trading success!
HYCM Vs eToro Live Chat
Live chat is important for several reasons. When you encounter a problem with HYCM or eToro trading platforms, it is nice to know that the problem has the potential to be sorted out then and there. Also, speaking to someone live is much less frustrating than speaking to someone through several emails.
Both HYCM and eToro offer livechat support.
HYCM Vs eToro Email Support
When trading CFDs, stocks, commodities, currencies, cryptocurrencies or any other financial instruments with either HYCM or eToro you will find Email support is also very useful. Sometimes you might have a more complex question requiring a specific part of the HYCM or eToro support team to answer satisfactorily. Email support with HYCM and eToro will be needed.
Both HYCM and eToro offer email support.
HYCM Vs eToro Phone Support
Although most queries can be resolved with the need of a phone call, it is nice when we can explain ourselves with a live human being at either HYCM or eToro. We can get straight to the point, saving us time and frustration.
HYCM do offer phone support. On the other hand
eToro do not offer phone support.
Lets see how HYCM and eToro customer support compare side by side.
Never trade on a market that is not sufficiently regulated. Only submit your bank card information or invest money on financially regulated websites. It would help if you made sure with certainty that your money is held with a regulated brokerage. Checking whether HYCM and eToro are regulated is not a hard task. The more reputable and mainstream brokers will proudly display their regulation certificates on their site, and if you cannot see that HYCM or eToro have these in place, please be extremely cautious before you proceed with them.
We compare HYCM Vs eToro financial regulation and licensing side by side below.
When trading with either HYCM or eToro you will want to understand and make full use of all the
risk management features on your HYCM or eToro trading platforms.
We compare side by side the trading risk management features offered by HYCM and eToro below.
HYCM Vs eToro Hedging
What is hedging? Have you ever heard of the expression 'to hedge ones bets'? Hedging means not speculating solely on
the outcome of one event, as holding all your assets in one place could be risky.
Hedging in finance means being able to trade to protect yourself from huge risks by limiting risk using diversification.
Hedging can be done, for example, by speculating on a stock to rise and against it to rise by using different amounts or different amounts of leverage.
HYCM does offer clients hedging, while eToro does not offer clients hedging.
HYCM Vs eToro Stop Loss
Stop loss orders are very useful for more volatile investments, especially when speculating on a stock or Forex currency pair.
In a normal trade, you cannot lose more than what you invested, but this is not the case when you are using leverage.
Under these terms, it is always good to set a stop loss to protect yourself from any vicious results.
Both HYCM and eToro do offer clients stop losses.
HYCM Vs eToro Limit Orders
Every broker should allow users to place a limit order.
Limit orders are when you have the order to buy a financial instrument at a specific price.
Your trade will be executed when the financial asset hits a set price. Limit orders are extremely useful as they allow you to buy stock at a better price!
It would be very time-consuming to wait for a stock to fall to a price you would ultimately be satisfied by. Therefore, you can already imagine what helping limit orders can be in your trading career.
Both HYCM and eToro do offer clients limit orders.
HYCM Vs eToro Negative Balance Protection
Negative balance protection is there to protect its customers. Customers need protection as trading can be volatile, and not everybody who invests knows the full consequences of their trade.
Negative balance protection works like this: Say you invest $50, but your trade can lose $125 because you have used leverage. You will need $125 available in your account to do this trade.
Negative balance protection is essential, as it would be unfortunate if you received an unexpected bill from a broker one day.
HYCM does not offer clients negative balance protection, while eToro does offer clients negative balance protection.
We hope this HYCM Vs eToro guide has helped you decide who is best to trade with out of HYCM and eToro.
When choosing a broker like HYCM or eToro for trading, it's important to ensure your money is held in a segregated bank account. Your live trading funds with HYCM or eToro are kept separate from the broker's funds and can be returned to you if the broker faces financial difficulties or insolvency when signing up with brokers such as HYCM or eToro, it's crucial to verify that they offer this safeguard. By doing so, you can have greater peace of mind and confidence in the safety of your funds as you engage in trading activities with HYCM or eToro.
Also, before you sign up with online brokers like HYCM or eToro, make sure you know what you are doing. Simple advice, we admit, but we know from experience how many people decide to start trading and then ask questions later. Please know what you are doing with HYCM or eToro before investing money into something.
Beware of the risks that come with trading with HYCM or eToro. The financial markets can be volatile, and investments can go down and up. Educate yourself, and use all HYCM and eToro educational resources and financial research tools. If you are new to trading, sign up for a demo account with HYCM and eToro to find which suits you and your trading style.
Some of you might be thinking about what we mean when we say 'trading style'. Here are a few examples. A day trader using HYCM or eToro will look to open positions and close them on the same day. Day trading in this way will require a broker that specialises in this. To do this with some brokers would be a bad idea because of the commission and fees involved. Check if HYCM and eToro fees match your trading requirements.
Alternatively, you could be on the end of this scale and decide to wait years before you close your investments with HYCM or eToro if your investment strategy is more long-term.
HYCM and eToro Alternatives
If HYCM and eToro are not what you are not quite what you are looking for we list some of the best HYCM and eToro alternatives below.
Other HYCM and eToro Vs Comparisons
If you are still looking for an alternative to HYCM and eToro and want to see how HYCM or eToro compares Vs other brokers check out the HYCM Vs and eToro Vs list below.
HYCM Vs Alternatives
Still not happy have a look at some of our alternative HYCM Vs side by side comparisons below
We answer some of the most frequently asked HYCM Vs eToro questions below.
Is HYCM any Good?
Knowing that a broker is legit is the first thing you should check before signing up with a broker.
Is HYCM legit? - HYCM are regulated by Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048
and have been in business since 1977
Is eToro any Good?
eToro are regulated by FCA (Financial Conduct Authority) Etoro (Europe) Limited FCA reference 523775, eToro (UK) Ltd FCA reference 583263, ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), MiFID (Markets In Financial Instruments Directive), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076 and have been in business since 2007.
Which is better HYCM or eToro?
HYCM does not have a high rating, while eToro does not have a high rating.
Is HYCM a con?
HYCM is regulated by Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048 and have been in business since 1977.
HYCM is most definitely not a con as they are regulated by major financial regulators.
Is eToro a con?
eToro is regulated by FCA (Financial Conduct Authority) Etoro (Europe) Limited FCA reference 523775, eToro (UK) Ltd FCA reference 583263, ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), MiFID (Markets In Financial Instruments Directive), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076 and have been in business since 2007.
We recommend looking at a eToro alternative that has more financial regulation.
What happens if HYCM or eToro go bust?
HYCM and eToro are regulated, which means that as part of their regulatory obligations HYCM and eToro have to offer a certain level of financial protection to their clients. HYCM and eToro should by law keep client funds separate from HYCM and eToro funds. If either HYCM or eToro goes bankrupt, they should not have access to your money. Customer accounts should be segregated. A financial services compensation scheme differs from country to country, so check this on the HYCM and eToro websites and regulators.
Are HYCM or eToro good for beginners?
HYCM and eToro offer low deposits and access to a selection of market insights and news resources. Both HYCM and eToro offer demo accounts. Demo trading accounts are a big plus for HYCM and eToro as it shows they are interested in their customers.