HY Markets Broker Review
Regulated and authorized by the FCA of the UK, HY Markets is based in London and boasts three decades of service excellence. As one of the premier trading platforms, HY Markets is a first choice for those seeking to enter the world’s capital markets. Mobile access to trading in the international markets is readily available via Android, iPad and iPhone devices at this broker.
HY Markets is fully committed to providing superior customer service and state-of-the-art-technology to novice and experienced traders alike. As such, HY Markets features a high quality MT4 platform alongside the HY WebTrader platform. Financial Conduct Authority (FCA) approval ensures that the strictest financial standards are in place, that reports are timeously submitted and that sufficient capital liquidity is available. All FCA regulations comply with independently audited financial reports.
There are several account types available at HY Markets, including a Mini Account, Standard Account and a Premium Account. Other account types include the HY Pro Trader Account, a Live Account, and a Demo Account. The Mini Account is good for traders wanting to make a minimum deposit of $50 or more. This particular account offers 300:1 leverage and 1/50 premium contracts. There are also 1.8 pip spreads on this account. A Standard Account is for traders wanting to deposit and trade with $750 upwards. The leverage is 300:1 and there is a 1/10 Premium contract. There are also 1.8 pip spreads.
The Premium Account is good for traders wanting to make deposits of $2,500 upwards. There is 300:1 leverage and there are regular contract sizes. Plus, there are 1.8 pip spreads available. The HY Pro Trader Account is ideally suited to traders wanting to take their trading to the next level. With higher volumes and rapid interbank pricing, this option provides high levels of liquidity. This is best suited to traders depositing and trading $5,000 upwards. Leverage of 200:1 is available in addition to ½ Premium contract with 0.5 pip spreads.
At HY Markets, traders can access multiple capital markets via multiple trading platforms. These include MT4 Mobile, MetaTrader 4, HY WebTrader, HY Pro, and others. The trading platforms are ideal for new and experienced traders on the capital markets. With multiple trading solutions available, HY Markets provides user-friendly, web-based trading with charts and other features with the world-class MetaTrader 4 software. WebTrader is available in a web-based platform and a mobile platform. Prices stream in real time, with multiple markets from an integrated account.
Traders can also access the MT4 platform via a download platform. All markets are accessible from a single account, with charts and graphs. Additionally, traders can enjoy account managers, VIP service and superior customer service. The MT4 Mobile platform offers live tradable prices and an integrated account with charting and online account info. HY Pro is the crème de la crème of download platforms which is powered by Currenex.
At HY Markets, traders are also welcome to test drive the trading platforms.
HY Markets offers multiple deposit options to traders, including PayPal, Credit Cards, and Wire Transfer. Once a deposit has been made, there is deposit confirmation available too. Payment methods include Wire Transfer, Visa, Visa Electron, MasterCard, Skrill and WebMoney.
A wide range of products can be traded at HY Markets. These include blue-chip stocks, indices, commodities, Forex and more. Tradable assets include the likes of WTI Crude oil, Brent Crude oil, gas, sugar, cotton, silver, gold, Dow Jones, NASDAQ, and more. All the world’s major currency pairs are traded, in addition to many minor currency pairs too. The trading platform provides quick and easy access to a world of opportunity with multiple categories of assets across the spectrum.
HY Markets offers traders up to 40% in bonus cash on your first deposit. Traders also get to enjoy a complimentary technical analysis e-book. With a deposit amount of $1,000 – $2,499, traders can get a 20% bonus. With a deposit amount of $2,500 to $7,499, traders can get a 30% deposit bonus. And for a deposit of $7,500 to $10,000 a deposit bonus of 40% is available. For this particular promotion the maximum that is available is $4,000.
Another bonus offer is a 25% welcome bonus up to $5,000 on your first deposit.
Customer support reps are available in multiple local languages. Plus there are customer service professionals for VIP traders at HY Markets. The friendly and professional agents are available 24/5.
HY Markets is fully regulated by the FCA. According to the FCAs Client Asset Rules, all funds at HY Markets are segregated according to industry standards. External audits are performed to ensure the reliability of all financial matters. The Financial Services Compensation Scheme (FSCS) is permitted to pay compensation where required.
Ease of Use
HY Markets is one of the most user-friendly trading sites, featuring a wide range of tradable options and multiple software platforms. Each of the tradable products is easily accessible, with stocks, indices, commodities, metals, oil/gas and Forex available. The fact that there is a live account, demo account, margin and leverage makes it easy to test the waters before you trade for real money. The education section, tools and support options provide all necessary assistance to traders in this regard.
HY Markets offers 4 platforms, 3 account types and a wide range of trade tools. The inclusion of a demo account (for practicing trading) and a live account are welcome extras.