24Option vs HYCM

24Option or HYCM – which is better for UK traders 2024? Compare 24Option and HYCM in this detailed breakdown of their platforms, features and fees.

24Option vs HYCM Comparison Table 2024
24Option HYCM
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2
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3.8
24Option is ranked #11 among binary options brokers. HYCM is ranked #68 among CFD brokers.
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24Option has closed or no longer accepts UK clients.
Trade nearly 200+ global stocks at 24Option via CFDs. Spreads are competitive and stop loss and take profit orders are available. Even trade new cannabis firms in Canada! 		HYCM is an online broker with authorization from four international bodies including the FCA and CySEC. The broker offers short-term CFD trading on forex, shares, commodities, indices, ETFs and Bitcoin, and supports the MT4 and MT5 platforms, as well as Trading Central analysis.
Pros
  • The low $20 minimum deposit is suitable for beginners, as well as the Fixed spread account with no commissions
  • The broker is overseen by trusted regulators, including the FCA
  • MT4 and MT5 integration ensures that active traders can access a vast selection of technical charting tools
  • There's a good range of free analytical tools, particularly Seasonax for pattern analysis
  • Spreads are competitive in the Raw account, starting from 0.1 pips for EUR/USD
  • Traders can access fee-free payments with rapid processing
Cons
  • Not the best overall range of assets, with just 200+ stocks
  • Market coverage varies quite significantly between account types and platforms
  • There's a high commission of $4 each way on the Raw account
Awards
  • Best Forex Broker 2021-2022 - Spain, Middle East, Asia, Germany
  • Best Trading Platform App 2021 - Forex Expo
  • Best Mobile Trading App 2020 - World of Finance Forex Award
FCA Regulated
No Yes
Instruments
CFDs, Forex, Stocks, Cryptos CFDs, Forex, Stocks, Indices, Commodities, ETFs
Demo Account
Yes Yes
Minimum Deposit
$250 $20
Payment Methods
Minimum Trade
0.1 Lots 0.01 Lots
Regulator
CySec FCA, DFSA, CIMA, CySEC
Mobile Apps
iOS, Android and Windows iOS & Android
iOS App Rating
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3
Android App Rating
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3.6
Margin Trading
No Yes
Margin Rate
Variable upon regulation and jurisdiction
MetaTrader 4
Yes Yes
MetaTrader 5
No Yes
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
No No
Autochartist
No No
eSignal
No No
Trading Central
No Yes
STP Account
No No
ECN Account
No Yes
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
No Yes
Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
No No
Social Trading
No No
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$10
Islamic Account
No Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • RUB
  • AED
Commodities
  • Gold
  • Silver
  • Coffee
  • Oil
  • Cotton
  • Copper
  • Palladium
  • Platinum
  • Sugar
CFD
HYCM traders can access CFDs on a range of stocks, indices, commodities and ETFs with floating spreads and maximum leverage varying by instrument. Clients also have a choice between two industry-leading platforms.
Leverage
1:30 (EU), 1:200 (Global) 1:301:500
FTSE Spread
1 pt 1.5
GBPUSD Spread<
0.2 pips (var) 0.1
Oil Spread
1 pip 2.0
Stocks Spread
0.2% Var 2.2%
Forex
24Option deliver a high quality forex trading service, with over 45 currency pairs and variable spreads from just 3 pips. HYCM offers 40+ forex pairs, with most available to trade on either the MT4 or MT5 platform. The maximum leverage on offer is 1:30 in accordance with regulations, and tight spreads start from 0.2 on the Raw account and from 1.2 on the commission-free Classic account.
Assets
45+ 40+
GBPUSD Spread
0.2 pips (var) 0.4
EURUSD Spread
0.2 pips (var) 0.1
EURGBP Spread
0.9 pips (var) 0.4
Cryptocurrency
24option offer crypto with the tightest margins. They also offer markets against a range of currencies, not just USD. HYCM only offers trading opportunities on Bitcoin, which is traded via CFD in a pair with USD. Whilst exposure to the largest crypto by market cap is good, access to other digital currencies would bring the broker in line with competitors.
Spread
BTC 0.4%, ETH 0.5% Variable
Coins
  • BCH
  • BTG
  • BTC
  • ETH
  • LTC
  • XRP
  • XRM
  • BTC
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Binary Options
Boundary Options
Yes No
Ladder Options
No No
24Option HYCM
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