Compare SUNCORP Versus HYCM and IC Markets broker accounts.
Compare SunCorp Vs HYCM Side by Side
So you are looking for a broker, SunCorp or HYCM who should you choose?
When trading on financial markets you will want to know all about who SunCorp or HYCM are, and how they compare. You will naturally want to know how long SunCorp and HYCM have been in business and what reputation SunCorp and HYCM have. On top of this, you will need to discover if SunCorp 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 safe in the knowledge that your money is in safe hands. Let us see how SunCorp 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 SunCorp and HYCM side by side.
You are eager to start trading so let us help you make a more informed descision.
Our Comparebrokers.co team has painstakingly spent months assessing different brokers accounts. We collected over 1200 data points on SunCorp 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 SunCorp platform or HYCM, 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 SunCorp online trading platform gives traders from all over the world access to over 212
financial instruments including over 100 available instruments. There are over 10,000 customers that have taken advantage
of the SunCorp platform.
SunCorp are regulated by Australian Prudential Regulation Authority (APRA).
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 SunCorp 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. Safety is the most important thing to consider. SunCorp is listed as a publically traded company so are a reputable broker.
Benefits of SunCorp and HYCM Compared
Below we will give you a brief summary of the benefits SunCorp and HYCM offer side by side.
SunCorp offers a minimum deposit of 100 while HYCM have a 100 minimum deposit.
Why small deposits before trading are good and how SunCorp and HYCM compare
The first obvious reason is that you should only deposit what you can afford with SunCorp or HYCM.
If you you have a lower budget, the broker that offers the lowest deposit option will be more attractive. SunCorp has a min deposit of
100, while HYCM has a min deposit of 100.
The other reason is because when speculating on riskier but potentially more rewarding financial instruments you should look to speculate with only a small percentage
of your allocated trading funds.
Don't let a higher minimum deposit offered by either SunCorp or HYCM totally put you off a broker, look at the overall trading features you are getting from the trading platform.
Often a high minimum deposit gives greater choice in the financial
assets and trading platform research features.
SunCorp allows traders to trade up to 212 financial instruments
while HYCM have around 100 on their trading platform.
The more instruments available on SunCorp 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 SunCorp or HYCM.
The SunCorp trading platform has 0 stocks listed
while HYCM has 10 stocks listed.
SunCorp allows retail traders to trade the following assets Forex trading, Social trading, Share Dealing on the SunCorp MetaTrader 4,Desktop& Mobile Apps trading platforms.
Alternatively HYCM allows retail traders to trade Forex, CFDs on the HYCM MT4, Tablet & Mobile apps trading platforms.
Compare SunCorp and HYCM in more detail below.
Drawbacks of SunCorp and HYCM Compared
Below we compare what drawbacks SunCorp and HYCM have side by side.
There are many potential drawbacks with some brokers. The first one is the potential limitations SunCorp and HYCM have. Generally speaking, the more things, you can invest in the better. The second thing is the trading fees and commissions you are paying with SunCorp vs HYCM. The higher the trading fees you pay will have more of an impact on any potential profits. Other important factors are the trading research tools, educational resources and the general usability of SunCorp vs HYCM.
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SunCorp Vs HYCM Available Financial Markets
Variety is the spice of life and that certainly applies to financial markets. A diverse investment portfolio is always recommended. If your investment portfolio is diverse, it helps to protect your investments overall from huge downswings that can occur in one potential market. For example, when an aeroplane stock goes up, other aeroplane stocks usually follow suit. This of course is the positive side of putting all your eggs in one basket.
When the opposite happens this could spell disaster! The best portfolios cover for potential danger and involve businesses and stocks from all walks of life. Having more tradeable assets, commodities and assets available to you on the SunCorp and HYCM platforms will help you build a more diverse investment portfolio.
Crypto currencies have been booming since the invention of Bitcoin and with good reason. Cryptocurrencies have turned double digit investments into millions. Extreme examples of course but this can be rarely said of any stock that exists.
Bitcoin is by far the most famous example of cryptocurrency but there are thousands of altcoins that are on the market that have the potential to rise in a similar fashion. Like stock markets, if Bitcoin rises, then altcoins follow suit.
Cryptocurrency can easily be labelled as a higher risk investment. This is because cryptocurrencies fluctuate often with extreme highs and extreme lows. If cryptocurrencies represent a fraction of your portfolio or you want to invest a small fraction of your trading budget to see what happens it could potentially be one of your most exciting trades ever depending on how the markets are. Please note that cryptocurrency availability with SunCorp, HYCM and all brokers is subject to regulation.
We compare SunCorp vs HYCM Crypto options below side by side.
knowing your trading and commission fees with SunCorp vs HYCM is extremely important.
For the majority of the SunCorp 212 financial instruments
and HYCM 100 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 both SunCorp and HYCM. The bigger the fee, the bigger the issue this is. Most alarmingly though some financial assets occur a charge for you to hold on to the asset overnight or over the weekend. This is usually true with commodities and stocks that you are using leverage on. Please check what your fees are with SunCorp and HYCM before you invest because it is crucial that you know exactly what you are paying.
You ideally want to choose a broker that does not charge to much for withdrawal fees. This is simply because this will eat into your profits. This is especially true if you have a low budget and do not intend to invest so much. You want the withdrawal fee to be less than one percent of what you are withdrawing but more ideally
a set fee of around 5 USD. Your location or residence will have an impact on your potential SunCorp and HYCM fees of course. Make sure you do your research and check the commission and fees with both SunCorp 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.
Both SunCorp and HYCM do charge inactivity fees.
You should receive plenty of notifications warning you about any potential deadlines and you can make a decision to act accordingly, continuing to use your account or closing it. Usually the fees are very small so there is no need to be alarmed especially when the problem is easily avoided.
When you deposit money to a broker like SunCorp or HYCM you might need to pay deposit fees. The lower the better. Most preferably of course you would have to pay 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 considering before you sign up.
Let’s see how SunCorp vs HYCM compare side by side for commissions and fees.
We live in an accessible world these days. Therefore, your trading platform has to consider this. Having the ability to trade with the click of a button is essential and allows you to make trading decisions on the SunCorp and HYCM platforms when it is convenient to you. Without this, you will not have the opportunity to take advantage of every situation that may or may not occur in the financial markets.
Some brokers offer there own 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 will need to test this out yourself with an SunCorp or HYCM demo account.
Being able to trade on your mobile 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. This way you will be able to take advantage of all the opportunities that present themselves. For example, a stock might move to an all-time low when you are out. In this instance you would have missed out on some profit.
If you have an iPhone you will need an IOS Apple mobile trading app. Thankfully these are very common and if a broker has an application, they are almost always available on an iPhone.
Similarly if your phone requires an android app it is good to check if the broker offers an app that supports Android devices.
If you use Microsoft Windows tablets or phones you will also need to check if the SunCorp and HYCM have trading apps that are compatible.
A demo account is an extremely useful account for people with no trading experience. This way you are risking none of your money and testing out your trading skills in a safe environment. For people who have next to no knowledge of trading, we recommend signing up with an SunCorp and HYCM demo account fully.
SunCorp Vs HYCM Micro Account
A micro account allows traders to place money on the Forex market. This is best for people who like to make risk averse trades and focuses mostly on foreign exchange currency. This is usually used by beginners.
SunCorp does not offer clients Micro accounts, while HYCM does offer clients Micro accounts.
SunCorp Vs HYCM Standard Account
A standard account is available to more experienced traders. This account allows users to trade on stocks, commodities, crypto etc. To open one of these retail investor accounts, users will have to trade with at least $100. This is the account the majority of people will seek to use.
Both SunCorp and HYCM do offer clients Standard accounts.
SunCorp Vs HYCM MAM Account
What is a MAM account? MAM stands for a Multi-Account Manager Account. This is very useful for serious traders who want to use one account to place all of their trades. It is a sophisticated software tool that allows a single trader to execute block trades on all accounts operating under a master account.
SunCorp does not offer clients MAM accounts, while HYCM does offer clients MAM accounts.
SunCorp Vs HYCM ECN Account
An ECN account stands for Electronic Communications Network. This is an account for pure order-matching execution. This is a very sophisticated piece of software and please only try this after much research. The account provider will charge a fee as their commission for executing each trade as an alternative to increasing the raw spread artificially as a revenue method.
SunCorp and HYCM do not offer clients ECN accounts.
SunCorp Vs HYCM Islamic Account
An Islamic account is for people who respect the Quran and would like to invest in the Islamic stock market. This might seem very niche, but it is essential for those concerned as it follows certain ethics in relation to the principles of Islam. They are also referred to as swap-free accounts.
Both SunCorp and HYCM do offer clients Islamic accounts.
SunCorp 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.
SunCorp and HYCM do not offer clients STP accounts.
SunCorp Vs HYCM Managed Account
A managed account is an investment that is owned by a single investor. However, the money-making decisions are in somebody else’s hands. These have become extremely popular in the last decade or so and with good reason. The money needed to invest in such accounts is usually larger as you must consider the fee for the finance professional. However, there are certain brokers that offer variations of managed accounts where you can pay as little as $200.
SunCorp and HYCM do not offer clients Managed accounts.
SunCorp and HYCM have multiple deposit and withdrawal options. Funding and withdrawing from your SunCorp and HYCM account to your chosen payment method should be straightforward. Lets see how SunCorp and HYCM compare with each other. Be aware that depending on the payment method you decide upon 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 SunCorp or HYCM.
Credit cards, Debit cards, Bank Transfer, PayPal, WebMoney, Payoneer,
Credit Cards, VISA, MasterCard, Debit Cards, Visa, MasterCard, Bank Transfer, PayPal, Neteller, Neteller VIP, Skrill, Poli, Cheque, BPAY, UnionPay, FasaPay, QIWI, RapidPay, Klarna, Electronic wallets (eWallets), Broker to Brokers, Thai Internet Banking, Vietnamese Internet Banking,
SunCorp Vs HYCM Customer Support Compared
Customer support is essential when trading. Even professional traders will eventually need the help of SunCorp or HYCM support. This is especially true of traders who are starting from a position of little knowledge. If you are starting out you will want to make sure the SunCorp and HYCM support is always available when you need them. SunCorp and HYCM customer support is not just useful. It is crucial to your trading success!
SunCorp Vs HYCM Live Chat
Live chat is important for several reasons. This is because when you encounter a problem it is nice to know that the problem has the potential to be sorted out then and there. Also speaking to a person live is much less frustrating than speaking to someone over the course of several emails.
SunCorp offers live chat while HYCM does not offer live chat support.
Both SunCorp and HYCM offer livechat support.
SunCorp Vs HYCM Email Support
When trading CFDs, stocks, commodities, currencies, cryptocurrencies or any other financial instruments with either SunCorp or HYCM you will find Email support is also very useful. Sometimes you might have a more complex question that requires a specific part of the SunCorp or HYCM support team to give a satisfactory answer to. This is where email support with SunCorp and HYCM will be needed.
Both SunCorp and HYCM offer email support.
SunCorp Vs HYCM Phone Support
Although most queries can be resolved with the need of a phone call, it is nice when we can actually explain ourselves with a live human being at either SunCorp or HYCM. We can get straight to the point and this can save us from a lot of time and frustration.
Both SunCorp and HYCM offer phone support.
Lets see how SunCorp and HYCM customer support compare side by side.
Never trade on a market that is not sufficiently regulated. This should go without saying when submitting your bank card information or investing money on any website. You need to make sure with certainty that your money is in safe hands. Checking to see if SunCorp and HYCM are highly 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 SunCorp or HYCM have these in place please be extremely cautious before you proceed with them.
We compare SunCorp Vs HYCM financial regulation and licensing side by side below.
When trading with either SunCorp or HYCM you will want to understand and make full use of all the
risk management features on your SunCorp or HYCM trading platforms.
We compare side by side the trading risk management features offered by SunCorp and HYCM below.
SunCorp Vs HYCM Hedging
What is hedging? Have you ever heard of the expression ‘to hedge one’s bets’? This basically means to not speculate solely on
the outcome of one event as it could be potentially risky holding all your assets in one place.
Hedging in finance means being able to tactically trade in such a way as you are protecting yourself from huge risk.
This can be done for example by betting for a stock to rise and betting against it to rise by using different amount or different amounts of leverage.
SunCorp does not offer clients hedging, while HYCM does offer clients hedging.
SunCorp Vs HYCM Stop Loss
Stop loss orders are very useful for more volatile investments. Especially when you are speculating on a stock or Forex currency pair.
In a normal trade you cannot lose more than what you invested but when you are using leverage this is not the case.
Under these terms it is always good to set a stop loss so you can protect yourself from having any vicious results.
Both SunCorp and HYCM do offer clients stop losses.
SunCorp Vs HYCM Limit Orders
Every broker should give its users an opportunity to place a limit order.
This is when you have an order in place to buy a financial instrument at a specific price.
When the financial asset hits a set price your trade will be executed. This is extremely useful as it will give you the opportunity to buy a 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 help limit orders can be in your trading career.
Both SunCorp and HYCM do offer clients limit orders.
SunCorp Vs HYCM Negative Balance Protection
Negative balance protection is there to protect its customers. Customers do indeed need protecting as trading can be a volatile business and not everybody who invests knows the full consequences of their trade.
The way negative balance protection works is like this: Say you invest $50 but your trade has the potential to lose $125 because you have used leverage. To do this trade you will need $125 available in your account.
This is great as it would be very unfortunate if you recieved an unexpected bill from a broker one day.
SunCorp does offer clients negative balance protection, while HYCM does offer clients negative balance protection.
We hope this SunCorp Vs HYCM guide has helped you decide who is best to trade without of SunCorp and HYCM.
Firstly when you are looking to trade it is essential that you can guarantee that your money is in safe hands. Therefore, please bear this in mind when you sign up with SunCorp or HYCM.
Also, before you sign up with online brokers like SunCorp 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. To put it in the simplest terms possible before you invest any money into something please take note of exactly what you are doing.
Beware of the risks that come with trading. The financial markets can be volatile and investments can go down as well as up. Educate yourself, make full use of all SunCorp and HYCM educational resources and financial research tools. If you are new to trading sign up for a demo account with SunCorp 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 will look to open positions and close them on the same day. This 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 SunCorp and HYCM fees match your trading requirements.
Alternatively, you could be on the extreme end of this scale and decide to wait years before you close your investments if your investment strategy is more long term.
SunCorp and HYCM Alternatives
If SunCorp and HYCM are not what you are not quite what you are looking for we list some of the best SunCorp and HYCM alternatives below.
Other SunCorp and HYCM Vs Comparisons
If you are still looking for an alternative to SunCorp and HYCM and want to see how SunCorp or HYCM compares Vs other brokers check out the SunCorp Vs and HYCM Vs list below.
SunCorp Vs Alternatives
Still not happy have a look at some of our alternative SunCorp Vs side by side comparisons below
We answer some of the most frequently asked SunCorp Vs HYCM questions below.
Is SunCorp any Good?
Knowing that a broker is legit is the first thing you should check before signing up to a broker.
Is SunCorp legit? – SunCorp are regulated by Australian Prudential Regulation Authority (APRA)
and have been in business since 2008
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 SunCorp or HYCM?
SunCorp and HYCM do not have a high rating so we recommend trading with a more reputable alternative broker.
Is SunCorp a con?
SunCorp is regulated by Australian Prudential Regulation Authority (APRA) and have been in business since 2008.
We recommend looking at a SunCorp alternative that has more financial regulation.
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 SunCorp or HYCM go bust?
SunCorp and HYCM are regulated which means that as part of their regulatory obligations SunCorp and HYCM have to offer a certain level of financial protection to their clients. SunCorp and HYCM should by law keep client funds separate from SunCorp and HYCM funds. If either SunCorp or HYCM goes bankrupt they should not have access to your money. Customers accounts should be segregated. A financial services compensation scheme differs from country to country so check this on the SunCorp and HYCM websites and regulators.
Are SunCorp or HYCM good for beginners?
SunCorp and HYCM offer low deposits and access to a selection of market insights and news resources. Both SunCorp and HYCM offer demo accounts. This is a big plus for SunCorp and HYCM as it shows on they have an interest in their customers.
learn more 67% of retail investor accounts lose money when trading CFDs with this provider.