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Data refreshed 25 Aug 2026 · Compiled by David Ispiryan
Trust rank #30 · Editorial rating 8.7 / 10 · Founded 1977
HYCM is a well-regarded forex and CFD broker offering access to a broad range of currency pairs and other markets on MetaTrader platforms. It provides flexible account types, education and research resources,…
Read the HYCM review
Trust rank #26 · Founded 2009
XM is a well-regarded forex and CFD broker providing online access to multiple markets on widely used platforms, along with research tools, education, and multilingual support.
Read the XM reviewHYCM (United Kingdom, founded 1977) holds 4 regulatory licences (CIMA, CySEC, DFSA, FCA), 1 of them tier-1, offers MT4, MT5 and sits in our medium-fee bracket. XM (Cyprus, founded 2009) holds 5 regulatory licences (ASIC, CySEC, DFSA, FCA, IFSC), 2 of them tier-1, offers MT4, MT5 and sits in our low-fee bracket. The two overlap in 204 countries; HYCM is available in 1 countries where XM is not, and XM in 25 where HYCM is not.
Scored on 8 measurable dimensions where both brokers have verified data. Dimensions missing for either side are excluded rather than guessed. This is a data summary, not a recommendation.
| Criteria | HYCM | XM |
|---|---|---|
| Editorial rating | 8.7 / 10 | Not verified |
| Trust rank | #30 | #26 |
| Founded | 1977 | 2009 |
| Headquarters | United Kingdom | Cyprus |
| Regulators | CIMA, CySEC, DFSA, FCA | ASIC, CySEC, DFSA, FCA, IFSC |
| Broker type | Market Maker, STP | Market Maker, STP |
| Platforms | MT4, MT5 | MT4, MT5 |
| Instruments | Commodities, Cryptocurrencies, Forex, Indices, Metals | Commodities, Forex, Indices, Metals |
| Countries accepted | 205 countries | 229 countries |
| Fee level | Medium | Low |
| Trading types | CFD Trading, Spot Trading | CFD Trading, Spot Trading |
| Best-for use cases | Professional Trading, Retail Trading | Professional Trading, Retail Trading |
Highlighted cells mark the stronger value where a direction is objectively better (e.g. more licences, lower fees). "Not verified" means the field is not yet in our catalogue for that broker — we never fill gaps with estimates.
Available at both (204): Algeria, American Samoa, Andorra, Angola, Anguilla, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan, Bahamas, Bahrain, Bangladesh, Belize, Benin, Bermuda, Bhutan, Bolivia, Bonaire, Bosnia and Herzegovina, Botswana, Brazil, Brunei, Bulgaria, Burundi, Cabo Verde, Cameroon, Central African Republic, Chad, Chile, China, Christmas Island, Cocos (Keeling) Islands, Colombia, Comoros, Congo, Cook Islands, Costa Rica and 164 more.
Only HYCM (1): Israel.
Only XM (25): Afghanistan, Albania, Barbados, Belgium, Burkina Faso, Cambodia, Cayman Islands, Cyprus, France, Gibraltar, Haiti, Hong Kong, Iraq, Jamaica, Lebanon, Mali, Mozambique, Panama, Philippines, Portugal, Senegal, South Sudan, Spain, Tanzania, Uganda.
Availability reflects the countries each broker declares it serves. Local rules change; confirm on the broker's own site before signing up.
XM holds more regulatory licences: HYCM (CIMA, CySEC, DFSA, FCA) versus XM (ASIC, CySEC, DFSA, FCA, IFSC). Tier-1 licences: HYCM 1, XM 2.
HYCM offers MT4, MT5; XM offers MT4, MT5.
XM is in the lower fee bracket (medium vs low) in our catalogue.
HYCM is the older of the two, founded in 1977; XM was founded in 2009.
They overlap in 204 countries. HYCM is additionally available in 1 countries (Israel) and XM in 25 countries (Afghanistan, Albania, Barbados, Belgium, Burkina Faso, Cambodia and 19 more).
Risk warning: CFDs and forex are complex, leveraged instruments and carry a high risk of losing money rapidly. A majority of retail investor accounts lose money when trading CFDs. Nothing on this page is financial advice; verify licence status on the regulator's register before depositing. Full risk disclosure.