PriorFX Vs HYCM

How PriorFX and HYCM Compare in 2024

PriorFX or HYCM who is better?

Compare PRIORFX Versus HYCM and IC Markets broker accounts.


Compare PriorFX Vs HYCM Side by Side

So you are looking for a broker, PriorFX or HYCM who should you choose?

When trading on financial markets you will want to know all about who PriorFX or HYCM are, and how they compare. You will naturally want to know how long PriorFX and HYCM have been in business and what reputation PriorFX and HYCM have. On top of this, you will need to discover if PriorFX and HYCM 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 PriorFX and HYCM 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 PriorFX and HYCM side by side.

If you're itching to start trading, we can assist you in making a well-informed decision when comparing PriorFX and HYCM. By comprehensively comparing PriorFX and HYCM 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 PriorFX, HYCM or an alternative broker.

Our Comparebrokers.co team has painstakingly spent months assessing different brokers accounts. We collected over 1200 data points on PriorFX and HYCM. 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 PriorFX platform or HYCM that they are regulated. To finish off our comparison, let's look at the popular tools and features traders prefer side by side.


PriorFX

(3/5)
Benefits of PriorFX?
  • Established in 2013
  • PriorFX have been in business for 11 years.
  • Head quarters in Cyprus.
  • Live Chat
  • Segregates clients funds
  • PriorFX Min deposit $50
PriorFX screenshot PriorFX sign up here
Your capital is at risk
Reputation Support
Good
Good

PriorFX Regulation

PriorFX is regulated by the Cyprus Securities and Exchange Commission (CySEC).

Excluded Countries

US

PriorFX Fees

Deposit fee Varies
Commission Yes
Inactivity fee No
Withdrawal fee Varies
Min trade 0.01 Lot
Max trade 10,000 Lot
Min deposit $50
View all spreads
& fees here
Your capital is at risk

Funding Methods

Credit card
Bank transfer
American Express
PayPal
Neteller
Skrill
Bitcoin

Payment processing time
1 business day

Withdrawal processing time
1 business day
See all PriorFX
funding options here
Your capital is at risk

PriorFX Features

Apple application available
Android application available
Windows application available
Can Set Price alerts
Variable spreads (Forex)
Scalping trading
Hedge trading
Stop loss orders
Limit orders
One click trading available
Trailing stops available
Expert advisors (Metatrader)
Virtual private server (VPS)
Direct market access (DMA)
ECN broker (Forex ECNs)
STP broker (STP)
Market maker
Trading Signals

PriorFX Platforms

MT4, Mac, Web Trader, Tablet & Mobile apps

PriorFX Languages

English, Russian, German, Hungarian, and Arabic

See PriorFX
features here
Your capital is at risk

Financial Markets

Forex (Currency)
Majors
Indices
Penny stocks
Dow Jones
FTSE
Dax
Nikkei
IPO
ETFs
Bitcoin CFD
Metals
Agriculturals
Energies
See PriorFX
instruments here
Your capital is at risk

PriorFX Account Types

Demo account
VIP account
Micro account
Standard account
Zero spread account
Islamic account

The information used on comparebrokers.co was updated directly from the PriorFX website. Our records were last updated on .

Visit PriorFX today
Your capital is at risk

HYCM

(3/5)
Benefits of HYCM?
  • Established in 1977
  • HYCM have been in business for 47 years.
  • Head quarters in UK.
  • Live Chat
  • Segregates clients funds
  • HYCM Min deposit $100
HYCM screenshot HY Markets sign up here
Losses can exceed deposits
Reputation Support
Good
Great

HYCM Regulation

HYCM is regulated by the 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.

Excluded Countries

US

HYCM Fees

Deposit fee No
Commission No
Inactivity fee Yes
Withdrawal fee Varies
Min trade Varies
Max trade Varies
Min deposit $100
View all spreads
& fees here
Losses can exceed deposits

Funding Methods

Credit card
Bank transfer
American Express
PayPal
Neteller
Skrill
Bitcoin

Payment processing time
1-2 business days

Withdrawal processing time
1-7 business days
See all HYCM
funding options here
Losses can exceed deposits

HYCM Features

Apple application available
Android application available
Windows application available
Can Set Price alerts
Variable spreads (Forex)
Scalping trading
Hedge trading
Stop loss orders
Limit orders
One click trading available
Trailing stops available
Expert advisors (Metatrader)
Virtual private server (VPS)
Direct market access (DMA)
ECN broker (Forex ECNs)
STP broker (STP)
Market maker
Trading Signals

HYCM Platforms

MT4, Tablet & Mobile apps

HYCM Languages

English, Chinese, Chinese (Traditional), Arabic, and Russian

See HYCM
features here
Losses can exceed deposits

Financial Markets

Forex (Currency)
Majors
Indices
Penny stocks
Dow Jones
FTSE
Dax
Nikkei
IPO
ETFs
Bitcoin CFD
Metals
Agriculturals
Energies
See HYCM
instruments here
Losses can exceed deposits

HYCM Account Types

Demo account
VIP account
Micro account
Standard account
Zero spread account
Islamic account

The information used on comparebrokers.co was updated directly from the HYCM website. Our records were last updated on .

Visit HYCM today
Losses can exceed deposits

IC Markets

(4/5)
Benefits of IC Markets?
  • Established in 2007
  • IC Markets have been in business for 17 years.
  • Head quarters in Australia.
  • Live Chat
  • Segregates clients funds
  • IC Markets Min deposit $200
IC Markets screenshot IC Markets sign up here
Losses can exceed deposits
Reputation Support
Good
Good

IC Markets Regulation

IC Markets is regulated by the Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC).

Excluded Countries

US, IR, CA, NZ, JP

IC Markets Fees

Deposit fee Varies
Commission Yes
Inactivity fee No
Withdrawal fee No
Min trade 0.01 Lot
Max trade None
Min deposit $200
View all spreads
& fees here
Losses can exceed deposits

Funding Methods

Credit card
Bank transfer
American Express
PayPal
Neteller
Skrill
Bitcoin

Payment processing time
Varies

Withdrawal processing time
Varies
See all IC Markets
funding options here
Losses can exceed deposits

IC Markets Features

Apple application available
Android application available
Windows application available
Can Set Price alerts
Variable spreads (Forex)
Scalping trading
Hedge trading
Stop loss orders
Limit orders
One click trading available
Trailing stops available
Expert advisors (Metatrader)
Virtual private server (VPS)
Direct market access (DMA)
ECN broker (Forex ECNs)
STP broker (STP)
Market maker
Trading Signals

IC Markets Platforms

MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android

IC Markets Languages

English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more

See IC Markets
features here
Losses can exceed deposits

Financial Markets

Forex (Currency)
Majors
Indices
Penny stocks
Dow Jones
FTSE
Dax
Nikkei
IPO
ETFs
Bitcoin CFD
Metals
Agriculturals
Energies
See IC Markets
instruments here
Losses can exceed deposits

IC Markets Account Types

Demo account
VIP account
Micro account
Standard account
Zero spread account
Islamic account

The information used on comparebrokers.co was updated directly from the IC Markets website. Our records were last updated on .

Visit IC Markets today
Losses can exceed deposits

PriorFX Vs HYCM Table of Contents

PriorFX and HYCM in Detail

PriorFX Review Screenshot

The PriorFX online trading platform gives traders from all over the world access to over 100 financial instruments including over 100 available instruments. There are over 10,000+ registered customers that have taken advantage of the PriorFX platform.

PriorFX are regulated by Cyprus Securities and Exchange Commission (CySEC).

PriorFX Review Screenshot

HYCM is a renowned UK financial trading brokerage established in 1977.

HYCM serves customers globally and 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. Depending on the country you are trading from PriorFX may serve you from a different business entity to comply with its financial regulators.

HYCM is not listed on any stock market, does not disclose its yearly report on its website. This is not terribly unusual for a broker, but you will want to check all of this out before you continue. Financial regulation is the most important thing to consider. PriorFX is not listed as a PLC.

Benefits of PriorFX and HYCM Compared

Below, we will give you a summary of the benefits PriorFX and HYCM offer side by side.

PriorFX offers a minimum deposit of 50 while HYCM have a 100 minimum deposit.

Why smaller trading deposits are good and how PriorFX and HYCM compare

One primary and self-evident factor to remember is that you must only deposit an amount that fits your financial capacity with either PriorFX or HYCM. If you have limited financial resources, the broker with the most affordable deposit option will be more appealing. PriorFX requires a minimum deposit of 50, whereas HYCM mandates a minimum deposit of 100. 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 PriorFX or HYCM, 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.

PriorFX allows traders to trade up to 100 financial instruments while HYCM have around 100 on their trading platform.

The more instruments available on PriorFX and HYCM 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 PriorFX or HYCM.

The PriorFX trading platform has 0 stocks listed while HYCM has 10 stocks listed.

PriorFX allows retail traders to trade the following assets Forex on the PriorFX MT4, Mac, Web Trader, Tablet & Mobile apps trading platforms.

Alternatively HYCM allows retail traders to trade Forex, CFDs on the HYCM MT4, Tablet & Mobile apps trading platforms.

Compare PriorFX and HYCM in more detail below.

Drawbacks of PriorFX and HYCM Compared

Below we compare what drawbacks PriorFX and HYCM have side by side.

Various potential downsides can be associated with certain brokers, including PriorFX and HYCM. 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 PriorFX compared to HYCM. 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 PriorFX versus HYCM.

Broker PriorFX HY Markets IC Markets
Inactivity Fees No Yes No
Withdrawl Fees Varies Varies No
Withdrawal Processing Time 1 business day 1-7 business days Varies
Min Deposit 50 100 200
Social Trading No No Yes
Excluded Countries US US US, IR, CA, NZ, JP

PriorFX Vs HYCM 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 PriorFX or HYCM. A diversified portfolio with PriorFX or HYCM 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 PriorFX or HYCM, it is recommended to have access to a variety of tradable assets, commodities, and securities on different trading platforms such as PriorFX and HYCM.

Broker PriorFX HY Markets IC Markets
Instruments Available 100 100 2250
Offers share dealing No No Yes
Number of Shares 0 10 2,100
Offers US Stocks No Yes Yes
Offers UK Stocks No No Yes
Offers German Stocks Yes No Yes
Offers Japanese Stocks Yes No Yes
Offers Indices Trading Yes Yes Yes
Number of Commodities 5 10 20
Offers Metals Commodities Yes Yes Yes
Offers Energy Commodities No Yes Yes
Offers Agricultural Commodities No Yes Yes
Offers Forex Trading Yes Yes Yes
Number of Forex Pairs 30 40 61
Offers Major Forex Pairs Yes Yes Yes
Offers Minor Forex Pairs Yes Yes Yes
Offers Exotic Forex Pairs Yes Yes Yes
Offers CFD Trading Yes Yes
Offers Social Trading No No Yes

PriorFX Vs HYCM Cryptocurrency Trading

Since the creation of Bitcoin, the world of cryptocurrencies has been booming, including on trading platforms like Both PriorFX and HYCM, 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 PriorFX and HYCM 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 PriorFX or HYCM 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 PriorFX or HYCM could lead to one of the most exciting trades you've ever made, depending on the market. Please remember that cryptocurrency availability on PriorFX, HYCM, and all brokers are subject to regulation.

We compare PriorFX vs HYCM Crypto options below side by side.

Broker PriorFX HY Markets IC Markets
Allows Cryptocurrency Trading (availability subject to regulation) No Yes Yes
Cryptocurrencies Offered BTC, BSV, BTG, ETH, ETC, LTC, XRP, EOS, XLM, TRON, DASH, IOTA, XMR, ZEC, NEO BTC, BCH, ETH, LTC, DASH, XRP, EOS, EMC, NMC, PPC

PriorFX Vs HYCM Commission and Fees

knowing your trading and commission fees with PriorFX vs HYCM is extremely important. For the majority of the PriorFX 100 financial instruments and HYCM 100 available financial instruments .

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 PriorFX and HYCM. 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 PriorFX and HYCM before you invest because you must know what you are paying.

You ideally want to choose a broker like PriorFX or HYCM 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 PriorFX or HYCM. 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 PriorFX and HYCM fees, of course. Make sure you do your research and check the commission and fees with both PriorFX and HYCM 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 PriorFX or HYCM be aware of or 3rd party payment provider fees and currency conversion fees.

PriorFX does not charge inactivity fees, while HYCM does charge inactivity fees.

Numerous notifications are usually sent to you as a reminder of dormant PriorFX and HYCM accounts, giving you sufficient time to decide on the appropriate course of action. You can opt to continue using your PriorFX or HYCM account, or choose to close it.

Usually, the associated fees for dormant PriorFX or HYCM 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 PriorFX or HYCM trading account activity to avoid any unnecessary fees or charges.

When you deposit money to a broker like PriorFX or HYCM you might need to pay deposit fees. The lower, the better. Most preferably, you would have to pay PriorFX or HYCM 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 PriorFX vs HYCM compare side by side for commissions and fees.

Broker PriorFX HY Markets IC Markets
Min Deposit 50 100 200
Inactivity Fees No Yes No
Withdrawal Fees Varies Varies No
Deposit Fees Varies No Varies

PriorFX Vs HYCM Trading Platforms

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 PriorFX and HYCM 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 PriorFX or HYCM demo account.

Broker PriorFX HY Markets IC Markets
Offers MT4 Yes Yes Yes
Offers MT5 No No Yes
Offers cTrader No No Yes

PriorFX Vs HYCM Mobile Trading

Trading on your mobile with PriorFX and HYCM 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 PriorFX and HYCM mobile trading apps. This way, you can take advantage of all potential trading opportunities mobile trading with PriorFX or HYCM. For example, a stock might move to an all-time low when you are out. In this instance, having access to mobile trading with PriorFX or HYCM can help limit your risk and trade on the move.

If you own an iPhone, having an IOS Apple mobile trading app with PriorFX or HYCM is essential. Likewise, if you have an android phone, it's crucial to verify if PriorFX or HYCM broker provides an app compatible with Android devices. If you use Microsoft Windows tablets or phones, you must also check if PriorFX and HYCM have trading apps compatible with your device.

Broker PriorFX HY Markets IC Markets
Web Platform Yes Yes Yes
IOS Trading App Yes Yes Yes
Android Trading App Yes Yes Yes
Microsoft Trading App Yes Yes Yes

PriorFX Vs HYCM Trading Account Types Offered

PriorFX Vs HYCM Demo Account

A demo account with PriorFX or HYCM 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 PriorFX and HYCM demo account.

PriorFX Vs HYCM 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 PriorFX or HYCM 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.

Both PriorFX and HYCM do offer Micro accounts.

PriorFX Vs HYCM Standard Account

A standard account is available on PriorFX and HYCM 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 PriorFX and HYCM do offer clients Standard accounts.

PriorFX Vs HYCM 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 PriorFX or HYCM or alternative.

Both PriorFX and HYCM do offer clients MAM accounts.

PriorFX Vs HYCM 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 PriorFX or HYCM or alternative.

PriorFX and HYCM do not offer clients ECN accounts.

PriorFX Vs HYCM 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 PriorFX or HYCM or alternative.

Both PriorFX and HYCM do offer clients Islamic accounts.

PriorFX Vs HYCM 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 PriorFX or HYCM or alternative.

PriorFX and HYCM do not offer clients STP accounts.

PriorFX Vs HYCM 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.

PriorFX does offer clients Managed accounts, while HYCM does not offer clients Managed accounts.

Broker PriorFX HY Markets IC Markets
Offers Demo Accounts Yes Yes Yes
Offers Micro Accounts Yes Yes No
Offers Standard Accounts Yes Yes Yes
Offers MAM Accounts Yes Yes Yes
Offers ECN Accounts No No No
Offers Islamic Accounts Yes Yes Yes
Offers STP Accounts Yes No No
Offers Managed Accounts Yes No No

PriorFX Vs HYCM Withdrawal and Funding Methods

PriorFX and HYCM have multiple deposit and withdrawal options. Funding and withdrawing from your PriorFX and HYCM accounts to your chosen payment method should be straightforward. Lets see how PriorFX and HYCM 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 PriorFX or HYCM.

Broker PriorFX HY Markets IC Markets
Payment Methods Credit cards, Bank Transfer, American Express, Neteller, WebMoney, UnionPay, QIWI, Debit cards, Payoneer, Credit cards, Debit cards, Bank Transfer, PayPal, WebMoney, Payoneer, 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),

PriorFX Vs HYCM Customer Support Compared

Customer support is essential when trading. Even professional traders will eventually need the help of PriorFX or HYCM support. Customer support is especially important for traders starting with little knowledge. If you are starting out, you will want to ensure the PriorFX and HYCM support is always available when needed. PriorFX and HYCM customer support is not just useful. broker customer support is crucial to your trading success!

PriorFX Vs HYCM Live Chat

Live chat is important for several reasons. When you encounter a problem with PriorFX or HYCM 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 PriorFX and HYCM offer livechat support.

PriorFX Vs HYCM Email Support

When trading CFDs, stocks, commodities, currencies, cryptocurrencies or any other financial instruments with either PriorFX or HYCM you will find Email support is also very useful. Sometimes you might have a more complex question requiring a specific part of the PriorFX or HYCM support team to answer satisfactorily. Email support with PriorFX and HYCM will be needed.

Both PriorFX and HYCM offer email support.

PriorFX Vs HYCM 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 PriorFX or HYCM. We can get straight to the point, saving us time and frustration.

Both PriorFX and HYCM offer phone support.

Lets see how PriorFX and HYCM customer support compare side by side.

Broker PriorFX HY Markets IC Markets
Offers Live Chat Yes Yes Yes
Languages English, Russian, German, Hungarian, and Arabic English, Chinese, Chinese (Traditional), Arabic, and Russian English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more
Support Email No [email protected] [email protected]
Phone 357 2525 8229 44-208-816-7812 No

PriorFX Vs HYCM Regulation and Licensing

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 PriorFX and HYCM 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 PriorFX or HYCM have these in place, please be extremely cautious before you proceed with them.

We compare PriorFX Vs HYCM financial regulation and licensing side by side below.

Broker PriorFX HY Markets IC Markets
FCA Regulation No Yes No
CySEC Regulation Yes Yes Yes
MiFID Regulation No No No
ASIC Regulation No No Yes
FSCA Regulation No No No
DFSA Regulation No Yes No
MAS Regulation No No No

PriorFX Vs HYCM Risk Management Features

When trading with either PriorFX or HYCM you will want to understand and make full use of all the risk management features on your PriorFX or HYCM trading platforms.

We compare side by side the trading risk management features offered by PriorFX and HYCM below.

PriorFX Vs HYCM 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.

Both PriorFX and HYCM do offer clients hedging.

PriorFX Vs HYCM 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 PriorFX and HYCM do offer clients stop losses. Stop Loss and Take Profit are not guaranteed on PriorFX or HYCM. You must still monitor any live trades and your financial exposure and financial risk.

PriorFX Vs HYCM 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 PriorFX and HYCM do offer clients limit orders.

PriorFX Vs HYCM 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.

PriorFX does offer clients negative balance protection, while HYCM does not offer clients negative balance protection.

Broker PriorFX HY Markets IC Markets
Offers Hedging Yes Yes Yes
Negative Balance Protection Yes No Yes
Guaranteed Stop Loss No No No
Offers Limit Orders Yes Yes Yes
Offers Trailing Stops Yes Yes Yes

PriorFX Vs HYCM Verdict

We hope this PriorFX Vs HYCM guide has helped you decide who is best to trade with out of PriorFX and HYCM.

When choosing a broker like PriorFX or HYCM for trading, it's important to ensure your money is held in a segregated bank account. Your live trading funds with PriorFX or HYCM 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 PriorFX or HYCM, 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 PriorFX or HYCM.

Also, before you sign up with online brokers like PriorFX or HYCM, 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 PriorFX or HYCM before investing money into something.

Beware of the risks that come with trading with PriorFX or HYCM. The financial markets can be volatile, and investments can go down and up. Educate yourself, and use all PriorFX and HYCM educational resources and financial research tools. If you are new to trading, sign up for a demo account with PriorFX and HYCM 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 PriorFX or HYCM 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 PriorFX and HYCM 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 PriorFX or HYCM if your investment strategy is more long-term.

PriorFX and HYCM Alternatives

If PriorFX and HYCM are not what you are not quite what you are looking for we list some of the best PriorFX and HYCM alternatives below.

Other PriorFX and HYCM Vs Comparisons

If you are still looking for an alternative to PriorFX and HYCM and want to see how PriorFX or HYCM compares Vs other brokers check out the PriorFX Vs and HYCM Vs list below.

PriorFX Vs Alternatives

Still not happy have a look at some of our alternative PriorFX Vs side by side comparisons below

HYCM Vs Alternatives

Still not happy have a look at some of our alternative PriorFX Vs side by side comparisons below

PriorFX Vs HYCM Frequently Asked Questions

We answer some of the most frequently asked PriorFX Vs HYCM questions below.

Is PriorFX any Good?

Knowing that a broker is legit is the first thing you should check before signing up with a broker. Is PriorFX legit? - PriorFX are regulated by Cyprus Securities and Exchange Commission (CySEC) and have been in business since 2013

Is HYCM any Good?

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.

Which is better PriorFX or HYCM?

PriorFX and HYCM do not have a high rating, so we recommend trading with a more reputable alternative broker.

Is PriorFX a con?

PriorFX is regulated by Cyprus Securities and Exchange Commission (CySEC) and have been in business since 2013. PriorFX is most definitely not a con as they are regulated by major financial regulators.

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.

What happens if PriorFX or HYCM go bust?

PriorFX and HYCM are regulated, which means that as part of their regulatory obligations PriorFX and HYCM have to offer a certain level of financial protection to their clients. PriorFX and HYCM should by law keep client funds separate from PriorFX and HYCM funds. If either PriorFX or HYCM 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 PriorFX and HYCM websites and regulators.

Are PriorFX or HYCM good for beginners?

PriorFX and HYCM offer low deposits and access to a selection of market insights and news resources. Both PriorFX and HYCM offer demo accounts. Demo trading accounts are a big plus for PriorFX and HYCM as it shows they are interested in their customers.


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