Is HYCM or IC Markets better for Belgium?

IC Markets scores 4.8/5 vs HYCM's 3.6/5, making it the stronger choice for most Belgium traders. IC Markets offers tighter spreads (from 0.0 pips) and faster execution on MetaTrader platforms, which suits active retail traders. HYCM is regulated locally but has higher trading costs, so it may appeal to beginners who prefer a simpler experience. For cost-conscious Belgium traders, IC Markets is generally better.

Can Belgium traders use both brokers legally?

Yes, Belgium traders can legally use both HYCM and IC Markets as they accept international clients. However, HYCM is regulated by the Cyprus Securities and Exchange Commission (CySEC) and complies with EU MiFID II rules, while IC Markets is regulated by the Seychelles Financial Services Authority (FSA). Neither is directly overseen by the Belgian Financial Services and Markets Authority (FSMA), but both operate legally for Belgian residents. Always check local ESMA leverage restrictions.

Which broker has lower spreads for Belgium traders?

IC Markets offers significantly lower spreads, starting from 0.0 pips on major pairs like EUR/USD, with a commission of $3.50 per lot per side. HYCM has spreads from 1.2 pips on its Standard account and 0.6 pips on the Raw account with a commission. For Belgium traders trading high volumes, IC Markets is far more cost-effective due to tighter raw spreads.

How do Belgium traders deposit at HYCM and IC Markets?

Both brokers support Bank Transfer, Skrill, Neteller, and USDT TRC20 for Belgium traders. HYCM also accepts credit/debit cards and PayPal, while IC Markets adds UnionPay and wire transfers. Minimum deposits are $50 for HYCM and $200 for IC Markets. USDT TRC20 deposits are processed within minutes, and Bank Transfers may take 1-3 business days. Both brokers support EUR accounts to avoid conversion fees.

Do both brokers offer Islamic accounts for Belgium?

Yes, both HYCM and IC Markets offer Islamic (swap-free) accounts for Belgium traders who require Sharia-compliant trading. HYCM provides swap-free accounts on request for clients from Muslim-majority countries, including Belgium. IC Markets offers Islamic accounts with no swap fees on overnight positions, but they may charge an administration fee after a holding period. Belgium traders should confirm eligibility with support.

Home › Compare › HYCM vs IC Markets — Belgium

Written by

Joseph Oloo

Fact checked by

Alia Mehmood

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Data verified

July 2026

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Country

Belgium

Complete Head-to-Head Comparison · 2026

HYCM vs IC Markets for Belgium Traders (2026)

Which broker is better for Belgium traders in 2026? Expert analysis across 12 categories.

HYCM

FCA · CySEC · CIMA · Founded 1977

Open Account

IC Markets

ASIC · CySEC · FSA · Founded 2007

Open Account

Winner: Tied

Categories: 12 compared

For: Belgium traders

Updated: July 2026

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Compare All Brokers in Belgium

Best Forex Brokers Lowest Spread Best Gold Brokers Best Demo Account

Quick Verdict — Belgium Traders

Best Overall

HYCM & IC Markets

Higher overall score & more features

Best Spreads

IC Markets

Lower trading costs for scalpers

Islamic Accounts

Both Available

Swap-free for Belgium Muslims

Best for Beginners

HYCM

Better education & support

$20 vs $200

Min deposit

1:500 vs 1:5000

Max leverage

FCA vs ASIC

Top regulator

3.6 vs 3.6

Our scores

Table of Contents

→ Overall Scores → Trading Costs → Account Types → Leverage → Instruments → Platforms → Execution Quality → Regulation & Safety → Deposits & Withdrawals → Islamic Accounts → Customer Support → Mobile App → Education & Research → User Reviews → Pros & Cons → Who Should Use?→ FAQ → Final Verdict

For Belgium traders navigating the forex market in 2025, choosing between HYCM and IC Markets is a critical decision. Both brokers serve retail traders in Belgium, but they differ significantly in trading costs, regulation, and platform features. HYCM, with a score of 3.6/5, is a well-established broker regulated by CySEC, offering a user-friendly experience suitable for beginners. IC Markets, scoring 4.8/5, is a global leader known for ultra-low spreads and high execution speed, favored by active and professional traders. Belgium traders benefit from local payment methods like Bank Transfer, Skrill, Neteller, and USDT TRC20, which both brokers support. The Belgian Financial Services and Markets Authority (FSMA) oversees local trading activity, but both brokers operate under international licenses. This comparison will help you decide which broker aligns with your trading style, whether you prioritize low costs or regulatory comfort. We'll analyze spreads, platforms, regulation, deposits, and more, specifically for the Belgian market.

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Overall Scores Comparison

HYCM

FCA · CySEC · CIMA

3.6

CompareBroker score

Winner

IC Markets

ASIC · CySEC · FSA

3.6

CompareBroker score

Trading Costs

Spreads, commissions

3.7

Tie

3.7

Platforms

MT4, MT5, cTrader, TV

3.3

3.8

WIN

Regulation

Safety, oversight

3.9

Tie

3.9

Deposits

Local payments

3.7

Tie

3.7

Customer Support

24/5, chat, phone

3.4

Tie

3.4

Education

Webinars, guides

3.3

Tie

3.3

Execution

Speed, slippage

3.7

Tie

3.7

Mobile App

iOS, Android

3.6

Tie

3.6

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Trading Costs - Spreads & Commissions

Instrument	HYCM	IC Markets	Winner
EUR/USD avg spread	0.09 pips + $3.5/lot	0.0 pips + $3.5/lot	IC Markets
XAU/USD (Gold)	$0.14 typical	$0.12 typical	IC Markets
GBP/USD avg spread	0.29 pips	0.23 pips	IC Markets
Standard acc spread	from 1.0 pips	from 0.8 pips	IC Markets
ECN commission	$3.5/lot/side	$3.5/lot/side	Tie
Min deposit	$20	$200	HYCM

For Belgium traders, trading costs are a major factor, especially when trading high volumes. IC Markets offers raw spreads from 0.0 pips on its Raw Spread account, with a $3.50 commission per lot per side. On the Standard account, spreads start from 0.6 pips with no commission. HYCM's Standard account has spreads from 1.2 pips, while its Raw account offers spreads from 0.6 pips with a $4 commission per lot. Over 100 lots per month, IC Markets saves Belgium traders approximately $200-300 in spread costs compared to HYCM. For scalpers and day traders, IC Markets' lower spreads directly improve profitability. HYCM may suit longer-term traders who prefer no commission but accept wider spreads. Both brokers offer EUR-denominated accounts to avoid conversion fees for Belgium traders.

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Account Types Comparison

Account Type	HYCM	IC Markets
Standard account	✓	✓
ECN / Raw spread	✓	✓
Islamic (swap-free)	✓	✓
Demo account	✓	✓
PAMM / MAM account	✗	✓
Zero spread account	✗	✓
Copy trading	✗	✗
Min deposit	$20	$200

⚖️

Leverage Comparison - Belgium Traders

Entity / Asset	HYCM	IC Markets
Belgium (offshore)	Up to 1:500	Up to 1:5000
Forex major pairs	1:500	1:5000
Gold (XAU/USD)	1:200	1:200
Indices	1:100	1:100
Cryptocurrencies	1:2 to 1:10	1:2 to 1:10

Leverage Warning for Belgium Traders

Traders in Belgium typically open accounts under offshore entities with up to 1:500 leverage. High leverage significantly increases risk.

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Trading Instruments - Assets Available

Asset Class	HYCM	IC Markets	Winner
Forex pairs	90+	65+	HYCM
Gold (XAU/USD)	✓	✓	Tie
Oil (WTI/Brent)	✓	✓	Tie
Stock indices	25+ indices	20+ indices	HYCM
Crypto CFDs	30+	20+	HYCM
Stocks / Share CFDs	✗	✗	IC Markets
ETFs	✗	✗	Tie

🖥️

Platforms Comparison

Platform	HYCM	IC Markets
MetaTrader 4 (MT4)	✓	✓
MetaTrader 5 (MT5)	✓	✓
cTrader	✗	✓
TradingView	✗	✗
Expert Advisors (EAs)	✓	✓
Scalping allowed	✓	✓
Hedging allowed	✓	✓

Both brokers offer MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are the most popular platforms among Belgium traders for their advanced charting and automated trading capabilities. IC Markets also provides cTrader, a platform known for its intuitive interface and depth of market, ideal for scalpers. HYCM offers its proprietary HYCM WebTrader, which is beginner-friendly but lacks the advanced features of MT4/MT5. For Belgium traders using Expert Advisors (EAs), IC Markets offers superior VPS hosting and lower latency. Mobile trading is robust on both, with apps available for iOS and Android. IC Markets' additional platform choice (cTrader) gives it an edge for traders seeking more customization.

⚡

Execution Quality - Speed & Slippage

Factor	HYCM	IC Markets	Winner
Execution model	ECN/STP	True ECN	IC Markets
Avg execution speed	~30ms	~40ms	HYCM
Slippage	Very low	Very low	Tie
Requotes	Very rare	Very rare	Tie
Scalping allowed	✓	✓	Tie
EA / Bot trading	✓	✓	Tie

IC Markets is renowned for its execution speed, with average order execution under 40 milliseconds and no requotes, thanks to its Equinix NY4 data center and low-latency infrastructure. HYCM also offers reliable execution but with slightly higher latency, averaging 50-60 milliseconds. For Belgium traders engaged in scalping or high-frequency trading, IC Markets' superior execution quality is a clear advantage. Both brokers offer No D