The main reason to consider HY Markets as a potential DC for opening a trading account is cooperation with the FCA regulator. The strong business reputation and high demands of the British Financial Conduct Authority give some impression to the brokers who report to it. As practice shows, these are really noteworthy companies with high standards of service and extensive capabilities.
On the other hand, the prices of such firms are much higher than those of the usual for the domestic market offshore dealing portals, which makes them inaccessible to a wide range of clients. Hy Markets is no exception to this rule – the minimum deposit amount for opening a standard account in the company is $750, and spreads start at 1.8 points.
The most important thing about HY Markets and Henyep Capital
HY Markets is not an independent enterprise, but a subsidiary of the well-known financial group Henyep Capital, established in 1977 and developing in various financial markets and exchanges. This holding is one of the founders of the Hong Kong Stock Exchange and has more than 50 offices around the world. It was in Henyep that cfDs were proposed for raw materials and energy. As for HY Markets itself, the actual start of its activity can be considered 1999, because it was then in Henyep started a project to develop Online trading in retail Forex and over-the-counter markets.
THE official website of hymarkets.com's hyat website gives traders access to several types of accounts:
- Mini: start-up capital from $70, minimum lot 0.02;
- Standard: deposits from $750, lot from 0.1;
- Premium: depot from $2,500, lots from 1;
- Pro: initial deposit of at least $5,000, lots from 0.1;
Mini, standard and premium accounts are supposed to work with MT4, Webtrader or HY WebtraderHY platforms, shoulder up to 300 to 1, and support for 30 pairs of Forex, CFDs, commodities, indices and shares. As for the professional account, it is based on the Platform CurreneX, characterized by a lower spread (from 0.5 p.) and a smaller leverage – 100 to 1. For all options, it is possible to use advisers and trading in telephone mode. Dedicated HY Markets reviews allow you to judge the high quality of performance and the absence of problems with withdrawals.
Additional benefits of HY Markets
The company is fully focused on working with traders and, like other European brokers, does not advertise PAMM accounts or trust management. New customers at HY Markets are entitled to a $100 bonus, while the experienced have a loyalty program with rebates for each lot. This dealing portal also has high-quality information support, taking into account both technical and fundamental analysis.