image HY Markets VISIT HY MARKETS image AFX Capital VISIT AFX CAPITAL image IG VISIT IG
About

HY Markets is regulated by the Financial Conduct Authority. HY Markets have provided Forex trading services since 1977.

AFX Capital is regulated by the Financial Conduct Authority and CySEC. AFX Capital have provided Forex, CFD trading services since 2010.

IG is regulated by the Financial Conduct Authority and ASIC. IG have provided forex, spread betting, CFD, and stock trading services since 1974.

Why choose them?
  • Yes Over 41 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 8 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, CySEC
  • Yes Over 44 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority and ASIC
Headquarters London, UK / Dubai, United Arab Emirates / Hong Kong 33 Sun Street, 2nd floor, London, UK, EC2M 2PY London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting No No Yes
Social Trading No No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 39 90
Commodities Offered 10 34
Stocks Offered 10 8000
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks No No No
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes Yes Yes
FTSE No Yes Yes
Dow Jones No No Yes
Dax No No Yes
Nikkei No No Yes
ETFs No No Yes
IPO No No Yes
See all instruments

Losses can exceed deposits

See all instruments

68.77% of retail investor accounts lose money when trading CFDs with AFX Markets Ltd

See all instruments

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 No No No
MT4 Mac No No Yes
WebTrader No Yes Yes
Mirror Trader No No No
ZuluTrade No No No
Sirix No No No
cTrader No No No
PAMM No Yes No
Custom Platforms HYCM AFX Fast ProRealTime & L2 Dealer

APPS

iOS image Yes No Yes
Android image Yes No Yes
Windows image Yes Yes No
Available Languages

English, Chinese, Arabic, and Russian

English, Polish, Italian, Polish, and Chinese

English, French, German, Spanish, and Portuguese

See platform & features

Losses can exceed deposits

See platform & features

68.77% of retail investor accounts lose money when trading CFDs with AFX Markets Ltd

See platform & features

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by HY Markets and AFX Capital

Demo account No Yes Yes
Mini account Yes No Yes
Micro account Yes No No
Standard account Yes Yes Yes
ECN Account No Yes No
Islamic account Yes Yes No
Zero spread account No No No
VIP account Yes Yes Yes
Fixed spreads Yes Yes No
Variable spreads Yes Yes Yes
See account options

Losses can exceed deposits

See account options

68.77% of retail investor accounts lose money when trading CFDs with AFX Markets Ltd

See account options

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes No Yes
Virtual private server No Yes Yes
Direct market access No Yes Yes
STP broker No Yes Yes
Market maker Yes Yes No
Min trade Varies 0.01 Lot £1
Max trade Varies $5,000 Variable
Min deposit $1 $20 $250

RISK MANAGEMENT

Stop losses Yes No Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes No Yes
Price alerts Yes No Yes
Signal trading Yes No Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal Yes No Yes
Neteller No Yes No
Skrill No Yes No
Payment processing time 1-2 business days 1 business day Varies
Withdrawal processing time 1-7 business days 1-5 business days Varies
See all funding options

Losses can exceed deposits

See all funding options

68.77% of retail investor accounts lose money when trading CFDs with AFX Markets Ltd

See all funding options

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

DETAILED INFO

Excluded countries US US BE,FR,IN,IL,PL,ZW
Contact email Send Email Send Email Send Email
phone number 44-208-816-7812 +44 207 710 0000 (UK), +357 25262710 (CY) 44 20 7633 5300
Live Chat Yes No Yes
Website http://www.hymarkets.com/ http://www.stofs.co.uk/ http://www.ig.com/
Forex Spreads
EUR/USD 1.80 0.60
GBP/USD 2.50 0.90
USD/JPY 2.30 0.70
AUD/USD 2.7 0.6
Cryptocurrency Spreads N/A 10
View all FX spreads

Losses can exceed deposits

View all FX spreads

68.77% of retail investor accounts lose money when trading CFDs with AFX Markets Ltd

View all FX spreads

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

INDICE SPREADS
Dax 30 20 1.0
Nasdaq 100 15 1.0
Euro Stoxx 50 25 1.5
ASX 200 1.0
S&P 500 5 0.4
FTSE 100 20 1.0
Google N/A 1 to 20
Facebook N/A 4 points per side
View all spreads

Losses can exceed deposits

View all spreads

68.77% of retail investor accounts lose money when trading CFDs with AFX Markets Ltd

View all spreads

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

FEES

Inactivity Fee Yes Yes Yes
Commission No $5/Lot per side Yes (0.1%)
Deposit Fee No No Varies
Withdrawal Fee Varies No No
View All Fees

Losses can exceed deposits

View All Fees

68.77% of retail investor accounts lose money when trading CFDs with AFX Markets Ltd

View All Fees

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

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Last update

All information collected from http://www.hymarkets.com/. Last updated on 01/06/2019.

All information collected from http://www.stofs.co.uk/. Last updated on 01/06/2019.

All information collected from http://www.ig.com/. Last updated on 01/06/2019.

Company

For over 30 years HY Markets has been the trusted platform of choice to access all the major markets across the world and with their low spreads and no commission policy they gained have over 50,000 active users.

HY Markets have accounts from $50 and accept multiple payment options including paypal making it easy to start trading with HY Markets and the process of opening an account takes less than 5 minutes. They also provide 24 hour customer support via phone, email and live chat in multiple llanguages to answer any queries you may have.

AFX Capital is an online forex trading service provider who are regulated by the Financial Conduct Authority, CySEC. To open an account with AFX Capital, minimum deposits start from $20.

With AFX Capital you can trade Forex, indices, commodities, equities, and bonds.

AFX Capital offer MetaTrader 4, AFX Fast platforms to make your trades and support 5 different languages.

The spreads offered by AFX Capital for the most popular instruments are:
1.8 EUR/USD, 1 FTSE 100, 38 GOLD,
2.1 GBP/USD, 3 DOW/JONES, 4 Crude Oil,
see all the spreads here.

Founded in 1974, IG are one of the largest and most respected brokers in the world. With over 125,000 traders, low margins and spreads, and a range of platforms, they're a popular choice for traders looking for a reputable broker that also offers a good range of markets and trading options.

IG are also one of the few brokers that offer experienced traders the chance to upgrade to an elective professional status. For more information about trading with IG, we have put together an indepth IG review with all the pros and cons about this broker.

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HY Markets or AFX Capital?

Well established or low spreads?

If you’re a trader looking for a broker that has been established for a long time, HY Markets is likely a good choice. However, if you want a broker with lower spreads on currency pairs like EUR/USD, AFX Capital may be more appropriate.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider HY Markets to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

HY Markets is regulated by Financial Conduct Authority, while AFX Capital is regulated by Financial Conduct Authority, CySEC.

As the Financial Conduct Authority are one of the most stringent regulators in the world, both HY Markets and AFX Capital will have very strict guidelines to follow to ensure they protect their retail trader clients.

IG are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

HY Markets has been around for 42 years, while AFX Capital have been around for 9 years. Our third alternative broker, IG, have been around for 45 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both HY Markets and AFX Capital use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both HY Markets and AFX Capital are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

HY Markets are based in London, UK / Dubai, United Arab Emirates / Hong Kong, while AFX Capital are based in 33 Sun Street, 2nd floor, London, UK, EC2M 2PY.

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both HY Markets and AFX Capital offer forex trading. HY Markets have a slightly larger variety of currency pairs with 39 pairs, compared to offered by AFX Capital. Also, if you’re looking to trade cryptocurrencies, HY Markets offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

If you’re looking to trade commodities like gold, silver or oil, HY Markets may be a better fit as AFX Capital does not offer commodity trading.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both HY Markets and AFX Capital offer this. Our alternative broker, IG, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. HY Markets, for example, offer a mini account, standard account and VIP account.

For Muslim traders, HY Markets offers an Islamic account, which doesn’t accrue interest or incur/receive rollover swap points, as this is prohibited in Shariah law. You can learn more & compare Islamic trading accounts head-to-head here.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

HY Markets does allow scalping and hedging. While AFX Capital also allows scalping and hedging. You can trade with EAs (expert advisors) on HY Markets but you can't trade EAs (expert advisors) with AFX Capital.

In terms of risk management tools, neither HY Markets or AFX Capital offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

HY Markets also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

HY Markets accept Paypal while AFX Capital accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, HY Markets charges 1.80 points, while AFX Capital charges points. Therefore, AFX Capital is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: HY Markets or AFX Capital?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, HY Markets is more reliable based on our criteria above. HY Markets has a wider range of instruments to trade. HY Markets offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Most brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.