HY Markets Review
While many firms do their best to impress you with their claims and purported benefits, there are a select few that already have the goods in house and have no need to go to great lengths to impress anyone. HYMarkets is one of the very few that has every attribute a trader could want in spades and then some. The firm is a member of the Henyep Group, a globally diversified conglomerate with over 30 years of operational experience in financial services, property, education, and charitable activities. The firm is headquartered in London, but is also authorized and registered in London, United Arab Emirates, and Hong Kong.
HY Markets is uniquely positioned in three continents with a corporate footprint in over 20 countries. Regulatory compliance is multifaceted, as well, under the auspices of the FCA in the UK, the SFC in Hong Kong, the DFSA in Dubai, and by way of the MiFID for the European Union. Client funds are always protected by regional compensation plans, segregated trustee accounts in top-tier banks, and by external auditor compliance. Safety and security are never an issue with HY Markets. Unfortunately, U.S. clients are not accepted at this time.
As a large global player with 30 years of operational experience under its belt, HY Markets can access the best pricing for its diverse list of investment instruments. From forex to stocks, metals, commodities and indices, a trader would be hard pressed to find a better partner in any region of the globe. Innovation and customer service are also major hallmarks of this firm, and it has been a leader in building online access to all international capital markets. Metatrader4 forms the basis of access, but it is also augmented with special features that only a firm like HY Markets can provide. If you want professional quality, integrity, and excellence, HY Markets has it all.
Features of HY Markets
Why trade with HYMarkets.com? The firm lists these reasons:
- Trade with a leader with over 30 years of operational excellence and experience;
- Headquartered in London’s financial center and in full compliance with the FCA and other major global regulatory bodies;
- Full transparency in all matters with an emphasis on client deposit protection from local compensation schemes, external audits, and the segregation of deposits in Tier One banks away from the firm’s operational capital;
- Broad global presence in all markets, including arrangements with major liquidity providers that provide spreads below 1.8 pips (lower for NDD);
- Trade a full array of asset choices in currency pairs, stocks, indices, and commodities, all from one integrated account with access to all capital markets through their global network;
- Account opening process is easy with four distinct account types to suit the needs of any individual, along with a free demo account and varying benefits according amount of activity:
- Mini – Starts at $50 and up, plus 1.8 pip spreads and 300:1 leverage;
- Standard — Starts at $750, plus additional privileges;
- Premium – Starts at $2,500, plus additional privileges;
- HY Pro Trader – Designed for the institutional trader – Starts at $10,000 – STP ECN with no dealer desk, spreads at 0.5 pips and leverage reduced to 100:1;
- Experienced support staff and help desk in local languages, 24X5, with a focus on excellence that only 30 years of service can provide;
- Free trading education and one-to-one support;
- Personal VIP services for experienced traders;
- Significant investment in training and support materials, plus continuous commentary and market information, SMS alerts, timely market information briefs, advanced charting systems, and technical analysis tools;
- No slippage is guaranteed, as are stop loss orders, even when volatile market conditions might prevent that guarantee with other brokers;
- Trading platforms are designed around the highly popular Metatrader4 series, augmented with additional features to provide access from anywhere at anytime, as long as you can access the Internet.
Spreads and Leverage
For Mini, Standard, and Premium accounts, spreads are offered at 1.8 pips. For institutional traders or those choosing to go STP ECN with no dealing desk, spreads can be as low as 0.5 pips. Standard leverage is set at 300:1, but institutional traders may be limited to 100:1 leverage. In some cases the firm will extend leverage as high as 400:1, but caution is advised since leverage can increase losses, as well as enhance gains.
The management at HY Markets has chosen to align with Metatrader4 for its basic and web-based trading platforms. HY Markets has also developed many innovative trading tools or widgets that can be accessed directly on the various trading platforms. These tools allow clients to better understand products, analyze trends, simulate the market, and more. HY Webtrader supports the iPhone, iPad and Android devices. The latest in encryption technology ensures that every session is private from a security purview.
Deposits and Withdrawals
As you might expect of a firm of longstanding, HY Markets offers a multitude of ways to deposit and withdraw funds. These methods include all major and many minor Credit/Debit cards, PayPal, Moneybookers, WebMoney, Bank Wire Transfer, and a host of other local payment alternatives. All funds are protected through segregation and by using industry best practices that are continually audited. Withdrawals are processed promptly, especially when legally required documentation is in place. In fact, this firm receives much praise on the Internet for how rapidly and easy it is to withdraw funds, always a good sign.
Beginners’ and Customer Support
HY Markets has focused on delivering high quality customer service, from one-on-one direct support to whatever you might want in the area of training, education or strategy development. Support comes for 24 hours on any trading day throughout the world via live chat, direct phone line, fax, or email in several languages, including Russian, Chinese, Arabic, Hindi, and Urdu. Support materials are in abundance, as well, to suit all levels of client expertise from beginner to veteran.
HY Markets has established global reputation for excellence and professionalism that is hard to come by in today’s marketplace. If you are looking for the best and prefer the comfort of knowing that your broker is heavy on compliance, especially when it comes to protecting customer deposits, then HY Markets cannot be beat. As their website notes, “With over 30 years of operational history and under the leadership of a visionary management team, Henyep has become synonymous with professional and quality services. The Group is dedicated to delivering best-of-breed services to its clients and the community alike.” Going with a leader like HY Markets definitely has its benefits.