Based in London and registered with the FCA, HY Market is considered to be trusted and secure Forex brokers. With a good reputation in the industry, they are one arm of the Henyep Group, and thus have access to more than 30 years of financial industry experience.
Which Trading Platforms are on Offer?
Traders who choose HY Markets as their broker can select from a choice of trading platforms, and with options available suited to their needs of both novice and experienced investors, there is sure to be a suitable platform to meet everyone’s needs. Although some do require PC downloads, there are others which are able to be easily accessed through mobile devices and smartphones, making them perfect for investors on the move.
Most of the trading platforms have charting and analytical tools available, making HY Markets a good choice. Thanks to their user friendly interfaces, they also guarantee ease of use. Thanks to all data communications and connections being safely encrypted, investors can also rest assured that their financial transactions are as secure as any other banking transaction.
Which Account Types are Available?
HY Markets offer different levels of account suited to different types of trader. Those who are just beginning their forays into Forex trading should considering taking out a Mini account, with a minimum deposit limit of just $50. This enables minimal risk while finding their feet in the market. Those with more experience can deposit $750 and start a Standard account, while those who consider themselves to be ready to make a larger financial commitment can deposit $2500 and open a Premium account. There is also a higher level HY Pro Trader account available for those who are expert traders. This account requires a deposit of $5000, and those investors can expect a different amount of leverage as well as a different spread.
If you would prefer to experience the trading platforms and features of HY Markets before depositing any funds, you can take out a free demo account. This useful feature allows potential investors to access up to $50,000 of virtual funds in order to hone their skills.
Further Information About HY Markets’ Main Features
As HY Markets do not charge any commission on any financial transactions, there are no hidden costs. This means that investors can withdraw 100% of their profits without having any fees to pay.
Depending on the level of account chosen by the trader, there will be different spreads on offer. Those choosing the Mini, Standard or Premium account can expect a pip spread of 1.8, while those who have opted for the highest level HY Pro Trader Account can expect a pip spread of 0.5.
HY Markets do not only offer Forex trading, but allow investors to branch out into other trading areas too. Investors can try their hand with a number of other assets including precious metals like silver and gold, energy products, indices, traditional stocks and commodities.
Depending on the type of account opened by the trader, the leverage on offer may vary. Those who have opted for one of the the main types of account, the Mini, Standard, or Premium accounts, can expect a leverage of 300:1, however those who have taken out a HY Pro Trader Account can command a leverage of 200:1.
Do HY Markets Make it Simple to Deposit and Withdraw Funds?
The ease of depositing and withdrawing funds is vital when making your choice of Forex broker. HY Markets ensures that investors can easily deposit their funds into their account, and have also streamlined the efficiency of their withdrawals system, ensuring that traders can access their money quickly. There are many available methods for depositing funds, including using credit cards, PayPal, MoneyBookers, Skrill, WebMoney, and wire transfers. In order to process a withdrawl, only a simple online form requires completion, and the processing system is guaranteed to be carried out within a single working day. It is important, however, to note that cleared funds may not appear in the trader’s account for up to 10 working days depending on their individual bank’s security checks.
What is the HY Markets Customer Experience Like?
Those investors who require access the the HY Markets customer service team can contact them 24 hours a day throughout the working week. Telephone, email and online chat options are on offer and as the service team are extremely helpful and multi-lingual it is easy to access the necessary help and information.
A section of HY Markets’ website is dedicated to the education of traders, and there are a range of articles including glossaries, lessons and video tutorials which will help traders new to the market to acquire an edge.
Traders can also enjoy a range of live services offered by HY Markets, including access to up the minute prices, news from Reuters and information straight from the markets. They can also receive direct SMS alerts to their smartphone. Thanks to HY Markets’ advanced charting systems and tools, investors can easily analyse the market and achieve a competitive advantage.
Why Should I Choose HY Markets for Forex Trading?
If you choose to use HY Markets as you Forex broker you can benefit from:
- Several trading platforms with user friendly interfaces
- A reliable and reputable broker that is regulated by the FCA
- Different leverages for different types of account
- An excellent and multi-lingual customer service team 24 hours a day on working days
- Streamlined withdrawal and deposit systems
- Other trading options including commodities, stocks and indices
- Access to excellent educational resources