IM
IC Markets
3.9 / 5Score: 2 / 5
Raw ECN-style pricing with spreads from 0.0 pips built for serious, high-frequency traders.
- Min deposit
- $200
- Max leverage
- 1:500
- Spread from
- 0 pips
- Regulators
- ASIC, CySEC
Reviewed by Experts Updated 8/28/2026
IC Markets vs HYCM: Which Broker Wins in 2026?
IC Markets and HYCM are both established, well-regulated forex and CFD brokers, but they serve different types of traders. Our proprietary rating gives IC Markets the edge overall at 3.9/5 versus HYCM's 3.4/5, largely on the back of tighter spreads and a broader platform suite. Read on to see exactly where each broker pulls ahead.
H
HYCM
3.4 / 5Score: 3 / 5
A veteran London-based broker offering commission-free trading with a low $100 entry point.
- Min deposit
- $100
- Max leverage
- 1:500
- Spread from
- 0.2 pips
- Regulators
- FCA, CySEC, DFSA
Overall Winner
IC Markets
Best for Beginners
HYCM
Lowest Fees
IC Markets
Top Regulation
HYCM
Side-by-side comparison
Core features compared head-to-head.
| Feature | IM IC Markets | H HYCM |
|---|---|---|
| Overview | ||
| Rating | 3.9 / 5 | 3.4 / 5 |
| Founded | 2007 | 1977 |
| Headquarters | Sydney, Australia | London, UK |
| Regulation | ASIC, CySEC | FCA, CySEC, DFSA |
| Fees & Limits | ||
| Min Deposit | $200 | $100 |
| Spreads From | 0 pips | 0.2 pips |
| Commission | $3.5/lot | None |
| Max Leverage | 1:500 | 1:500 |
| Platforms & Markets | ||
| Trading Platforms | MT4, MT5, TradingView, Proprietary Mobile | MT4, MT5 |
| Markets Offered | Forex, Cfd, Crypto, Stocks, Indices, Commodities | Forex, Cfd, Stocks, Indices, Commodities, Crypto |
Trading & non-trading fees
Min Deposit
IC Markets
$200
HYCM
$100
Spreads From
IC Markets
0 pips
HYCM
0.2 pips
Commission
IC Markets
$3.5/lot
HYCM
None
Deposit Fees
IC Markets
None
HYCM
None
Withdrawal Fees
IC Markets
None
HYCM
None
Pros & cons
IM
IC Markets
Pros
- Higher overall rating at 3.9/5 versus competitors in its class
- Tighter spreads starting from 0.0 pips reduce trading costs
- Widest platform selection including TradingView integration
- No fees on deposits or withdrawals
- Strong dual-jurisdiction regulation via ASIC and CySEC
- Broad market access spanning six asset classes
- Well suited to high-volume and algorithmic trading strategies
Cons
- Higher minimum deposit of $200 compared to some competitors
- Per-lot commission adds cost complexity versus all-in spread pricing
- Fewer total regulatory licences than some multi-jurisdictional rivals
- Younger company history, founded in 2007
- Raw spread accounts may feel less intuitive for beginners
H
HYCM
Pros
- Lower minimum deposit of $100 makes it more accessible
- No per-trade commission simplifies cost calculation
- Wider regulatory coverage across FCA, CySEC, and DFSA
- Long operating history dating back to 1977 builds trust
- No fees charged on deposits or withdrawals
- Broad market access across six asset classes
- Straightforward platform choice with MT4 and MT5
Cons
- Wider spreads from 0.2 pips versus tighter competitor pricing
- Lacks TradingView or advanced third-party charting integration
- Lower overall rating at 3.4/5 compared to top-rated competitors
- Fewer platform options than brokers offering proprietary mobile apps
- May be less cost-efficient for high-frequency scalping strategies
Our expert verdict
Editor's verdict
Overall winner IC Markets
Lowest fees IC Markets
Best regulation HYCM
Better for beginners HYCM
IC Markets is our top pick in this matchup, earning a 3.9/5 overall rating compared to HYCM's 3.4/5. Its razor-thin spreads from 0.0 pips, deeper platform lineup (including TradingView), and raw ECN-style pricing make it the stronger all-round choice for active traders. HYCM still deserves a look from beginners and low-budget traders thanks to its $100 minimum deposit, commission-free pricing, and wide multi-jurisdictional regulatory footprint spanning the FCA, CySEC, and DFSA.
Regulation & Safety
Both brokers operate under credible, tier-1 regulatory oversight, so neither can be dismissed as a safety risk. IC Markets is licensed by ASIC in Australia and CySEC in Cyprus, two of the most respected regulators in the retail trading world.
HYCM goes a step further on jurisdictional spread, holding licences from the FCA in the UK, CySEC in Cyprus, and the DFSA in Dubai. This gives HYCM a slightly wider regulatory net, which matters for traders who value operating under multiple overlapping legal frameworks.
For traders prioritising sheer regulatory breadth, HYCM has a marginal advantage with three licences versus two. However, both brokers meet the standards most serious retail traders require for fund safety and operational transparency.
Fees, Spreads & Commissions
This is where the comparison becomes most decisive. IC Markets advertises spreads from 0.0 pips, paired with a transparent commission of $3.5 per lot, a pricing model typical of raw ECN-style accounts favoured by scalpers and high-frequency traders.
HYCM takes a different approach, charging no per-trade commission but starting spreads slightly wider at 0.2 pips. For lower-frequency traders, this simpler all-in-spread model can feel more predictable, even if the effective cost per trade may end up higher for active traders.
Neither broker charges deposit or withdrawal fees, which is a welcome consistency across both platforms. On raw cost efficiency for high-volume trading, IC Markets comes out ahead, while HYCM's commission-free structure suits traders who prefer simplicity over granular cost-cutting.
Account Access & Minimum Deposit
HYCM is the more accessible option for traders working with smaller starting capital, requiring just a $100 minimum deposit. IC Markets sets its entry point higher at $200, which may be a modest barrier for absolute beginners or those testing strategies with limited funds.
Both brokers offer 1:500 maximum leverage, giving traders comparable flexibility to scale position sizes relative to their account equity, subject to regional regulatory restrictions.
For newer traders or those funding a demo-to-live transition cautiously, HYCM's lower deposit threshold removes friction. Traders with more capital ready to deploy immediately may find IC Markets' $200 requirement negligible in the context of overall trading costs.
Trading Platforms & Tools
IC Markets supports a notably wider platform ecosystem: MT4, MT5, TradingView, and a proprietary mobile app. The TradingView integration is a standout, giving traders access to advanced charting and social trading features not natively available at HYCM.
HYCM keeps things focused with MT4 and MT5 only. While this covers the two most widely used retail trading platforms globally, it lacks the extra flexibility and modern charting depth that TradingView brings to IC Markets' offering.
Traders who rely heavily on custom indicators, algorithmic strategies, or multi-device charting will likely prefer IC Markets' broader toolkit. Those who are comfortable with the standard MetaTrader suite will find HYCM's simpler setup perfectly functional.
Company History & Market Range
HYCM brings considerable pedigree to the table, founded in 1977 and headquartered in London, making it one of the more historically established names in retail trading. IC Markets is comparatively younger, founded in 2007 and based in Sydney, Australia.
Despite the age gap, both brokers offer comparably broad market access, spanning forex, CFDs, crypto, stocks, indices, and commodities. Neither broker meaningfully outpaces the other on asset diversity.
Longevity can matter to traders who weigh institutional track record heavily, giving HYCM a reputational edge in that specific regard. However, market range and execution quality remain broadly comparable between the two firms.
Our Verdict
When we weigh all criteria together, IC Markets earns the higher overall rating at 3.9/5 versus HYCM's 3.4/5, primarily driven by tighter spreads, a stronger platform lineup, and cost efficiency for active traders. It is our pick for best overall broker and best for low fees in this comparison.
HYCM is not far behind and claims its own wins, taking our awards for best regulatory breadth and best for beginners thanks to its lower $100 minimum deposit and long operating history dating back to 1977.
Ultimately, high-frequency and cost-conscious traders should lean toward IC Markets, while beginners or those who value multi-jurisdictional regulatory coverage may find HYCM the more comfortable starting point.
Verdict summary
The bottom line — category winners and our final pick based on ratings.
Editor's verdict
IC Markets wins overall
IC Markets edges out HYCM overall based on our expert rating score.
IM
Highest Rated
IC Markets
3.9 / 5 / 5
Category winners
Overall winner
Based on overall expert rating (3.9/5).
IC MarketsBetter for beginners
Stronger onboarding and educational resources.
HYCMLower trading costs
More competitive spreads and baseline commissions.
IC MarketsStronger regulation
Higher trust based on tier-1 regulatory oversight.
HYCM
Frequently asked questions
Based on our independent rating system, IC Markets edges ahead with a 3.9 out of 5 score compared to HYCM's 3.4 out of 5. IC Markets' advantage stems mainly from tighter spreads and a broader platform lineup, though HYCM remains competitive for beginners and low-deposit traders. The right pick still depends on your individual trading priorities, so review the full breakdown above before deciding.
IC Markets offers spreads starting from 0.0 pips but charges a $3.5 per lot commission, while HYCM charges no commission but starts spreads at 0.2 pips. For high-frequency traders, IC Markets' raw pricing model typically works out cheaper, while HYCM's flat spread approach may suit lower-frequency traders who prefer simplicity.
IC Markets requires a minimum deposit of $200 to open a live trading account, while HYCM has a lower barrier at just $100. Traders working with smaller starting capital may find HYCM's entry point more approachable.
Both brokers are regulated by respected tier-1 authorities, so both are considered safe choices. IC Markets is licensed by ASIC and CySEC, while HYCM holds licences from the FCA, CySEC, and DFSA, giving it slightly broader multi-jurisdictional coverage.
IC Markets supports a wider range of platforms including MT4, MT5, TradingView, and its own proprietary mobile app. HYCM keeps things more focused, offering only MT4 and MT5, which still covers the industry-standard trading software most traders are already familiar with.
Yes, there is nothing stopping you from maintaining accounts at both brokers simultaneously. Many experienced traders spread their capital across multiple platforms to take advantage of different pricing structures, tools, and asset availability.
HYCM is generally the friendlier option for beginners, thanks to its lower $100 minimum deposit and simple commission-free spread pricing that removes an extra layer of cost calculation. IC Markets can still work for beginners, but its $200 minimum and per-lot commission structure are typically better appreciated once a trader has more experience.
No, neither IC Markets nor HYCM charges deposit or withdrawal fees, making both brokers equally transparent in this regard. This consistency means traders can move funds in and out without worrying about additional account maintenance costs eating into their capital.
Both brokers offer broad multi-asset access, covering forex, CFDs, crypto, stocks, indices, and commodities. There is no significant difference in market range between IC Markets and HYCM, so this factor is unlikely to be a deciding one for most traders.
Risk warning: Trading CFDs and forex involves significant risk of loss and is not suitable for all investors. Please consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.