HY Markets
HY Markets: A Quality Trading Experience
HY Markets is based in London and has been operating in the trading world for more than three decades. They are a division of the Henyep Group that has interests in a number of industries from property to education financial services and is present in over twenty countries across the world. HY Markets is regulated by the Financial Services Authority of the United Kingdom.
| Broker | Broker Details | Spread | Min Deposit | Max Leverage (p.a.) | Min Trade Size | Pairs | |
|---|---|---|---|---|---|---|---|
 HY Markets |
Enjoy low spreads across all capital markets with HY Markets | 3-5 | $50 | 200:1 | $2,000 | 12 |   |
HY Markets offers traders the ability to trade a wide range of financial instruments from the same account and on the same platform. Rather than focusing solely on Forex trading, HY Markets also offers commodity trading, including oil, gas, gold and silver, as well as stocks and indices. Whether you prefer trading for short-term profits or investing for the long term, HY Markets has a solution for every type of portfolio.
HY Markets: Accounts, Spreads and Leverage
HY Markets has three major account types as well as offering customized accounts tailored to meet the needs of the most demanding traders. For example, the mini account offered by HY Markets offers a lwo entry barrier with the minimum deposit being only $50. Additionally, the average spread is 5 pips during market conditions and the minimum transaction size is 2 micro lots – 2,000 EUR for the EUR/USD for example. The rate of leverage is up to 200:1. This account is ideal for beginners and traders who prefer to risk a lower degree of their own capital.
Standard accounts require a minimum $750 deposit and offer average spreads of 4 pips and premium accounts are for more experienced traders with a minimum deposit of $2,500 and 3 pip spreads. Traders who hold premium accounts have access to precision dealing execution on all financial instruments and non-stop customer service. Leverage is the same across the board.
Customized accounts are designed for traders with special needs and these include Islamic accounts. These accounts can be personalized for anyone from money managers to high volume traders that have specific requirements.
HY Markets: Trading Platforms
HY Markets offers two types of platforms. One is web based and is ideal for beginner traders or for those on the go while the downloadable version features more advanced analysis tools.
The HY Webtrader offers trading of any financial instrument from the same interface. The platform is easy to use and offers all the essential information traders need, including charts, account information, open positions and the ability to trade from the same screen. It provides a direct price feed with all prices being tradable instantly, no request quotes required, and it also ensures no slippage.
Another interesting feature is the freeze rate function which apparently allows traders to lock in their price to ease the decisions making process. The HY Webtrader platform also offers a real-time new feed, allowing traders to stay up to date with the goings on of the market. However, at first glance the analysis tools available are rather sparse which would make this platform less than an ideal option as your main trading platform, especially for traders who focus mainly on technical analysis.
The HY Trader is the downloadable trading platform which offers much more than the Webtrader in terms of analysis tools. Despite its name, when traders download the platform, they will find that it is essentially the Metatrader platform that has been integrated to work with HY Markets infrastructure.
Metatrader is one of the most popular charting and analysis solutions for professional traders mainly due to the wide range of tools available as well as its flexibility. The platform allows traders to code their own indicators and automated trading solutions with the use of the proprietary language which is simple to learn. If you aren’t comfortable learning a programming language, a quick online search will reveal the existence of many free indicators that can be used for any trading style. From indicators plotting daily, weekly, monthly and yearly highs and lows to those calculating support and resistance or trading volume, the tools available are practically limitless.
The HY Markets version of Metatrader also offers a live news feed from Reuters for those who prefer fundamental analysis and news trading. Furthermore, they also offer direct access to their dealing room which involves a more personal approach with extra services and assistance.
HY Markets: Registration and Support
The registration process is relatively simple and hassle-free. In fact, traders can be up and running in less than five minutes. Accounts can be funded via credit card, Paypal, IPS ePayment or wire transfer.
HY Markets also offers their clients excellent customer support that is available 24 hours a day five days per week, during market hours, via phone, live online chat or email. Their support service is available in most of the local languages where they are present. Furthermore, for larger accounts they offer a VIP, personal customer support service.
HY Markets: Education
HY Markets also offers comprehensive educational materials including generalized trading tutorials for beginners to learn how to analyze the markets from a technical and fundamental viewpoint to materials dedicated to the different financial instruments they offer. Additionally, traders can receive a daily newsletter with an overview of everything that is happening on all the major capital markets.
HY Markets: Conclusion
Overall, HY Markets is an excellent broker that offers a comprehensive range of services for all levels of retail traders, from beginners to professional, large volume traders. Whether you are just starting out or are an experienced trader, you will find that HY Markets has everything you will ever need and much more.
