Comparison HYCM vs SogoTrade
The InvestorGreg.net broker comparisons assess over a dozen different brokers, finding the best online trading brokers. This comparison page compares HYCM vs SogoTrade. Is HYCM or SogoTrade a better online broker?
First of all, we’ll compare the commission fees of the two brokers. The commission fee of HYCM on regular transactions of the stock exchange is spreads vary, and SogoTrade has a commission fee of $2.88. We can also analyze commission fees for trading CFD: they are spreads from 4 pips in HYCM vs $2.88 in SogoTrade. The full online broker reviews contains more detailed information on the brokers’ commission fees.
Investors should always know about types of online trading supported by broker and about tools provided by them in trading. It is very important information as well. Let’s compare them. are HYCM provides customers with Stocks Trading, Forex Trading, Crypto Trading, and SogoTrade provides customers with Stocks Trading, Options Trading, ETFs Trading, Mutual Funds Trading, Bonds Trading, Futures Trading, Crypto Trading. Concerning the platforms, HYCM uses Desktop Platform (Windows), Desktop Platform (MacOS), MT4, Android App, iOS App, while SogoTrade uses Desktop Platform (Windows), Desktop Platform (MacOS), Web Platform, Android App, iOS App.
Finally, by comparing the two online brokers, we want to pay attention to the year and country of establishing, the regulatory authorities and the possibility of withdrawing funds. HYCM was established in 1977 in United Kingdom, and it is regulated by FCA, CySEC, CIMA. And SogoTrade was established in 1986 in United States, and it is regulated by SEC and FINRA. Withdrawal of funds from HYCM can be done using Bank Wire, Visa/Mastercard with a withdrawal fee of free. And SogoTrade provides the ability to withdraw funds using Bank Wire with a withdrawal fee of $25 for US wire transfer. The withdrawal time for HYCM is 1 - 7 business days, and that one for SogoTrade is 3 business days.
As a result, the rating of HYCM is 4.8 stars versus that of SogoTrade of 4 stars.