image HY Markets VISIT HY MARKETS image Roboforex VISIT ROBOFOREX image City Index VISIT CITY INDEX
About

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

Roboforex is regulated by CySEC. Roboforex have provided Forex trading services since 2009.

City Index is regulated by the Financial Conduct Authority. City Index have provided Forex trading services since 1983.

Why choose them?
  • Yes Over 41 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 9 years in business
  • Yes Segregates clients funds
  • Yes Regulated by CySEC
  • Yes Over 35 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, ASIC and MAS
Headquarters London, UK / Dubai, United Arab Emirates / Hong Kong Limassol, Cyprus London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes Yes Yes
CFD Yes Yes Yes
Spread Betting No No Yes
Social Trading No No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 39 32 84
Commodities Offered 10 0 26
Stocks Offered 10 0 4500
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes No Yes
Penny stocks No No Yes
Energies Yes No Yes
Metals Yes Yes Yes
Agriculturals Yes No 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 No
See all instruments

Losses can exceed deposits

See all instruments

Losses can exceed deposits

See all instruments

70% of retail investor accounts lose money when trading 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 Yes No
MT4 Mac No Yes No
WebTrader No Yes Yes
Mirror Trader No No No
ZuluTrade No No No
Sirix No No No
cTrader No Yes No
PAMM No No Yes
Custom Platforms HYCM No AT Pro, Advantage Web

APPS

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

English, Chinese, Arabic, and Russian

English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian

English, Spanish, German, Arabic, Polish, and Chinese

See platform & features

Losses can exceed deposits

See platform & features

Losses can exceed deposits

See platform & features

70% of retail investor accounts lose money when trading CFDs with this provider

ACCOUNT INFORMATION

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

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

Losses can exceed deposits

See account options

Losses can exceed deposits

See account options

70% of retail investor accounts lose money when trading CFDs with this provider

TRADING CONDITIONS

Scalping Yes Yes No
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server No Yes No
Direct market access No No No
STP broker No Yes Yes
Market maker Yes Yes Yes
Min trade Varies 0.01 Lot 1 Lot
Max trade Varies 100 Lot Varies
Min deposit $1 $1 $25

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes Yes Yes
Signal trading Yes Yes Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal Yes No No
Neteller No Yes No
Skrill No No No
Payment processing time 1-2 business days Varies 2-3 business days
Withdrawal processing time 1-7 business days Varies 2-3 business days
See all funding options

Losses can exceed deposits

See all funding options

Losses can exceed deposits

See all funding options

70% of retail investor accounts lose money when trading CFDs with this provider

DETAILED INFO

Excluded countries US, JP US, JP US, CF, TD, CG, CG, CI, CU, GN, ER, GN, FR, GW, HT, IR, IQ, KR, LB, LR, LY, MM, NZ, NG, SL, SO, SD, SY, TM, UZ, VE, EH, YE, ZW
Contact email Send Email Send Email Send Email
phone number 44-208-816-7812 357 25 262660 0845 355 0801
Live Chat Yes No Yes
Website http://www.hymarkets.com/ http://www.roboforex.com/ www.cityindex.co.uk
Forex Spreads
EUR/USD 1.80 0.10 0.50
GBP/USD 2.50 0.70 0.80
USD/JPY 2.30 3.00 0.50
AUD/USD 2.7 1.6 0.5
Cryptocurrency Spreads N/A N/A 70
View all FX spreads

Losses can exceed deposits

View all FX spreads

Losses can exceed deposits

View all FX spreads

70% of retail investor accounts lose money when trading CFDs with this provider

INDICE SPREADS
Dax 30 20 1.8 1.0
Nasdaq 100 15 1 1.0
Euro Stoxx 50 25 N/A 2.0
ASX 200 1.0
S&P 500 5 0.4 0.4
FTSE 100 20 3 1.0
Google N/A N/A 0.0015
Facebook N/A N/A 0.0015
View all spreads

Losses can exceed deposits

View all spreads

Losses can exceed deposits

View all spreads

70% of retail investor accounts lose money when trading CFDs with this provider

FEES

Inactivity Fee Yes No Yes
Commission No No 0.0015
Deposit Fee No No Varies
Withdrawal Fee Varies Yes Varies
View All Fees

Losses can exceed deposits

View All Fees

Losses can exceed deposits

View All Fees

70% of retail investor accounts lose money when trading CFDs with this provider

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Last update

All information collected from http://www.hymarkets.com/. Last updated on 01/05/2019.

All information collected from http://www.roboforex.com/. Last updated on 01/05/2019.

All information collected from www.cityindex.co.uk. Last updated on 01/05/2019.

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.

Roboforex is an online forex and binary options trading service provider who are regulated by CySEC, ICF. To open an account with Roboforex, minimum deposits start from $1.

With Roboforex you can trade Forex, metals, and CFD. If you like to trade on the go, Roboforex have iPhone, iPad and Android apps so you can trade from anywhere on your phone.

Roboforex offer MetaTrader4, MetaTrader5, cTrader, WebTrader, iPhoneTrader, Android Trader, cTrader Web, Currenex Viking Trader platforms to make your trades and support 14 different languages.

The spreads offered by Roboforex for the most popular instruments are:
2 EUR/USD, 30 FTSE 100, 100 GOLD,
3 GBP/USD, 40 DOW/JONES, 14 Crude Oil,
see all the spreads here.



For more information about trading with Roboforex, we have put together an indepth Roboforex review with all the pros and cons about this broker.

Since establishing themselves as one of the first spread betting providers in the UK. , City Index have grown to a global company in over 50 countries completing over two million trades every month. City Index provide some of the most competitive spreads across thousands of markets including indices, shares, currencies, commodities and many more.

City Index have continued to innovate and were the first to provide a downloadable Android and iPhone app for spread betting and CFD trading and with over 30 years experience in the industry, you know you can trust Cityindex to handle your trades.

For more information about trading with City Index, we have put together an indepth City Index review with the pros and cons about this broker.

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HY Markets or Roboforex?

Well established or ECN execution?

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 ECN execution, Roboforex 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 Roboforex is regulated by CySEC.

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

City Index 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 Roboforex have been around for 10 years. Our third alternative broker, City Index, have been around for 36 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 Roboforex 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 Roboforex 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 Roboforex are based in Limassol, Cyprus.

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 Roboforex offer forex trading. HY Markets have a slightly larger variety of currency pairs with 39 pairs, compared to 32 offered by Roboforex. Also, if you’re looking to trade cryptocurrencies, HY Markets offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

Both HY Markets and Roboforex allow you to trade commodities like gold, silver and crude oil.

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 Roboforex offer this. Roboforex also offer the new & improved MT5 platform. Our alternative broker, City Index, 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 Roboforex also allows scalping and hedging. You can trade with EAs (expert advisors) on both HY Markets and Roboforex.

In terms of risk management tools, neither HY Markets or Roboforex 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 Roboforex 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 Roboforex charges 0.10 points. Therefore, Roboforex 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 Roboforex?

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.