HYCM vs Phillip Nova 2026: Which Broker is Better?
Choosing between HYCM and Phillip Nova depends on your trading style, preferred markets, and budget. HYCM is headquartered in London, UK, while Phillip Nova operates from Singapore. HYCM has the longer track record, established in 1977, compared to Phillip Nova which was founded in 2005. This in-depth comparison covers regulation, fees, platforms, markets, and overall ratings to help you decide which broker is the better fit in 2026.
HYCM
Phillip Nova
| HYCM | Phillip Nova | |
|---|---|---|
| BrokerRank Score | 3.6/5 ✓ | 3.4/5 |
| Min. Deposit | $100 | $0 ✓ |
| Spread from | 0.2 pips ✓ | 0.6 pips |
| Max Leverage | 1:500 ✓ | 1:20 |
| Regulation | FCA, CySEC, DFSA ✓ | MAS |
| Platforms | MT4, MT5 | Proprietary Web, Proprietary Mobile, POEMS |
HYCM is the better choice overall, scoring 3.6/5 vs 3.4/5 on BrokerRank's independent rating. On fees, HYCM offers lower spreads (0.2 pips).
See full side-by-side comparison belowHYCM vs Phillip Nova: Key Differences
HYCM
WinnerPhillip Nova
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Fees Comparison
HYCM
Lower feesPhillip Nova
Regulation & Trust
HYCM holds licences from FCA, CySEC, DFSA. Phillip Nova is regulated by MAS.
Markets & Assets
Both brokers offer access to Forex, Cfd, Indices, Commodities markets. HYCM additionally covers Stocks. Phillip Nova adds Crypto.
Fees & Spreads
On spreads, HYCM is more competitive with EUR/USD spreads from 0.2 pips, compared to 0.6 pips at Phillip Nova.
Trading Platforms
HYCM supports MT4, MT5. Phillip Nova offers Proprietary Web, Proprietary Mobile, POEMS.
Minimum Deposit
HYCM requires a minimum deposit of $100, while Phillip Nova sets no minimum deposit. This makes Phillip Nova accessible to traders with any budget.
Overall Ratings
BrokerRank scores HYCM at 3.43/5 and Phillip Nova at 3.39/5, based on 50+ data points covering regulation, fees, platforms, markets, and user experience. HYCM leads overall with a marginal advantage.
BrokerRank Verdict
Who Should Choose Which?
HYCM
3.6/5
Choose HYCM if you want…
- Higher overall rating (3.6/5)
- Tighter spreads (from 0.2 pips)
- Higher leverage (up to 1:500)
- More regulatory licences (3)
Phillip Nova
3.4/5
Choose Phillip Nova if you want…
- No minimum deposit
- More platforms (3 supported)
Also consider
We earn a commission when you open an account through these links, at no extra cost to you. Our ratings are scored independently — see the full independent ranking.
Both HYCM & Phillip Nova are available in
Frequently Asked Questions
1Is HYCM better than Phillip Nova?
HYCM scores higher overall on our independent rating system. HYCM holds a 3.6/5 rating vs Phillip Nova's 3.4/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
2Which has lower fees, HYCM or Phillip Nova?
HYCM offers spreads from 0.2 pips, while Phillip Nova starts at 0.6 pips. Check the fees section above for a full breakdown.
3What is the minimum deposit for HYCM vs Phillip Nova?
HYCM requires a minimum deposit of $100. Phillip Nova requires $0.
4Which broker is safer, HYCM or Phillip Nova?
HYCM is regulated by FCA, CySEC, DFSA, while Phillip Nova holds licences from MAS.
5What trading platforms do HYCM and Phillip Nova support?
HYCM supports MT4, MT5. Phillip Nova supports Proprietary Web, Proprietary Mobile, POEMS.
6Can I use both HYCM and Phillip Nova?
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
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