Page Summary
Saxo Bank and Henyep Markets (HYCM) are top online brokers. Saxo Bank offers premium services, trading platforms, and research tools. It has a transparent fee structure and top-tier tools. Saxo Bank has licenses from the ASIC, SFC, MAS, FSA, FCA, and FINMA. It is an excellent choice for active traders of all levels of experience.
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Saxo Bank
69% of retail investor accounts lose money when trading CFDs with this provider.
HYCM
BROKER COMPARISON
Trading Platform & Tools
| Automated Trading | ||
| Charting Tools | ||
| Conditional Orders | ||
| cTrader | ||
| Demo Account | ||
| Desktop Platform | ||
| Max Leverage | 1:20 | 1:500 |
| MetaTrader 4 (MT4) | ||
| MetaTrader 5 (MT5) | ||
| Mobile Version | ||
| Mutual Fund Management | ||
| Proprietary Platform | ||
| Social/Copy Trading | ||
| Trading Alerts | ||
| Trading signals | ||
| Watchlist | ||
| Web Version |
Fees
| Withdrawal Fee | 0 | 0 |
| Deposit Fee | 0 | 0 |
| Inactivity Fee | ||
| Cost Per Trade | 0 | 0 |
| Cost Per Month | 0 | $10 |
| Forex (EUR/USD) | 1 | 0.1 pips |
| Stocks & ETF | 0.08% with $1 min. commission on US stocks | 0 |
| CFD (Gold) | $0.60 | 2.5 pips |
| Crypto | 0 | 0 |
| Options | $0.75 | 0 |
| Conversion Fees | 0,75% | 0 |
| Misc. Fees | 0 | 0 |
| Overnight Fees |
Deposit & Withdrawal
| Minimum deposit (in UAE) | $5000 | $20 |
| Bank Wire | ||
| Credit/Debit Card | ||
| Cash | ||
| Check | ||
| Islamic Account Transfer | ||
| E-payments | ||
| Paypal | ||
| Skrill | ||
| Neteller |
Assets
| Shares | 30.000 | 0 |
| ETF & Funds | 5.800 | 0 |
| Crypto | 9 | 0 |
| Commodities | 0 | 0 |
| Indices | 0 | 0 |
| Options | 3.000 | 0 |
| Futures | 300 | 0 |
| Bonds | 4.200 | 0 |
| Forex Instruments | 200 | 70 |
| CFD Indices & Funds | 50 | 48 |
| CFD Stocks | 19.000 | 65 |
| CFD Commodities | 50 | 17 |
| CFD Crypto | 0 | 64 |
| CFD Bonds | 0 | 0 |
| Binary Options | 0 | 0 |
| SWAPS | 0 | 0 |
| Saving Plans | 0 | 0 |
Research & Education
| Webinars | ||
| Educational Resources | ||
| Daily News Updates | ||
| Market Indepth Analysis | ||
| Pers. Training & Room | ||
| Market Research |
Customer Support
| Phone | ||
| Live Chat | ||
| 24/7 support | ||
| Multilingual | ||
| Personal Account Manager |
Winner
HYCM is a top MetaTrader broker with an expensive fee structure. We do not recommend this broker for active traders. It offers limited research and education tools. HYCM is a top choice for beginner traders, as it offers beginner trading videos and webinars.
Both online brokers have advantages and disadvantages. This article discusses the differences between Saxo Bank and HYCM.
Top findings from the Saxo Bank vs. HYCM review:
- Saxo Bank has premium trading services with impressive platforms, tools, and social trading features.
- HYCM is a premium broker with access to the full MetaTrader suite.
- Both brokers offer premium services and an active trader discount.
Saxo Bank is an excellent choice for experienced traders, as it has premium social trading tools and services. HYCM is a top choice for traders of all levels of experience because of its educational tools and tutorials.
Level of experience
Professional traders choose Saxo Bank as it has premium tools and trading platforms. It offers advanced trading videos and many research tools. Saxo Bank provides some educational tools, including forex education and training videos.
Beginner traders opt for HYCM’s services. It offers user-friendly educational and research materials. These include beginner trading videos, investor dictionaries, and webinars. HYCM has professional trading tools and provides access to MT4 and MT5 features.
Fees
Saxo Bank has a high minimum deposit fee of US$10,000, while HYCM has an initial deposit of US$100. The average EUR/USD spread at Saxo Bank is 0.8, while at HYCM is 2. Both brokers offer an active trader discount.
Assets
Saxo Bank has an impressive portfolio with stocks, bonds, options, futures, CFDs, and 170 forex pairs. Saxo Bank is also a registered bank and provides robust banking services to its clients. HYCM offers cryptocurrencies, CFDs, and 69 forex pairs. HYCM does not offer banking services.
Trading platform
Saxo Bank has a reliable portfolio with premium desktop, web, and mobile platforms. It provides a demo account, reliable research, and educational tools. Saxo Bank is a top choice because of its social trading services. We recommend it for active traders of all levels of experience.
HYCM is a MetaTrader-only broker with a separate platform for its China and Hong Kong securities offering. It has a virtual trading account and social trading services. HYCM has an education section on its website with videos and trading courses.
Banking services
Banking services are important for a smooth online trading experience. Saxo Bank offers full banking services to its clients while HYCM does not. Saxo Bank provides bank transfers and credit/debit card funding options for your trading account. HYCM has credit/debit, bank transfer, and Skrill funding options.
Final verdict
Saxo Bank and HYCM are top online brokers with excellent social trading features. Both have advantages and disadvantages depending on your needs and trading experience. Saxo Bank is a top choice for active traders searching for premium trading solutions. HYCM is a better choice for new traders, as it has a dedicated learning center.
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