HY Markets offer two ways to trade: Forex, CFDs.
To open a live account, you’ll need a minimum deposit of at least $1. Alternatively, HY Markets offer a demo account that you can use to practice and familiarise yourself with their platform.
Regulated by the Financial Conduct Authority, UK (FRN: 186171). HY Markets puts all client funds in a segregated bank account and uses tier-1 banks for this. HY Markets have been established since 1977, and have a head office in UK.
Before we dive into some of the more detailed aspects of HY Markets’s spreads, fees, platforms and trading features, you may want to open HY Markets‘s website in a new tab by clicking the button below in order to see the latest information directly from HY Markets.
Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
What are HY Markets's spreads & fees?
The spreads displayed below are based on the minimum spreads listed on HY Markets’s website. The colour bars show how competitive HY Markets’s spreads are in comparison to other popular brokers featured on BrokerNotes.
EUR/USD1.8 PIPS $0 per lot
The average spread for EUR/USD across all brokers on BrokerNotes is 0.82 pips. See popular brokers for trading EUR/USD
USD/JPY2.3 PIPS $0 per lot
The average spread for USD/JPY across all brokers on BrokerNotes is 0.91 pips. See popular brokers for trading USD/JPY
GBP/USD2.5 PIPS $0 per lot
The average spread for GBP/USD across all brokers on BrokerNotes is 1.18 pips. See popular brokers for trading GBP/USD
The average spread for Bitcoin across all brokers on BrokerNotes is 41.15 pips. See popular brokers for trading Bitcoin
The average spread for gold across all brokers on BrokerNotes is 8.62 pips. See popular brokers for trading gold
The average spread for DAX30 across all brokers on BrokerNotes is 14.95 pips. See popular brokers for trading DAX30
Example: How much would it cost to trade 1 lot of EUR/USD?
If you were to buy one standard lot of EUR/USD (100k units) at an exchange rate of 1.1719 and then sell it the next day at the same price you could expect these fees:
|Typical overnight fee:||$5.00||$9.40||$9.10|
|Total cost of a 100k trade:||$12||$15.4||$16.1|
|+$3.40 more||+$4.10 more|
|Visit AvaTrade||Visit Plus500||Visit IG|
All fees/prices are for informational purposes and are subject to change. Last updated: 17/11/2017.
What instruments can you trade with HY Markets?
|FX / Currencies||AvaTrade||Plus500||IG|
|# of forex pairs offered||59||61||90|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|# of commodities offered||16||17||34|
|Indiced & Stock CFDs||AvaTrade||Plus500||IG|
|# of Stocks offered||99||1816||8000|
|See AvaTrade's Instruments||See Plus500's Instruments||See IG's Instruments|
What's the HY Markets trading experience like?
1) Platforms and apps
HY Markets also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you‘re on the move.See HY Markets's platforms
2) Executing Trades
With HY Markets, the minimum and maximum trade requirements vary depending on the trader and the instrument.
As a market maker, HY Markets may have lower entry requirements compared to a ECN broker who benefit from a higher volume of trades and typically have larger capital and minimum trade requirements. Market makers typically have lower minimum deposit, smaller minimum trades requirements and no commission on trades.
As with most brokers, margin requirements do vary depending on the trader, accounts and instruments, but as a guide, HY Markets offer margin up to 0.0025% on currencies.
Finally, we‘ve listed some of the popular funding methods that HY Markets offers its traders on the right.
3) Client support
HY Markets support a wide range of languages including English, Chinese, Chinese (Traditional), Arabic, and Russian
HY Markets have a BrokerNotes triple AAA support rating because they offer a wide range of languages, live chat, phone and email support.
About HY Markets
HY Markets is the online trading platform of Henyep Capital Markets UK Limited, and it is registered by the Financial Conduct Authority (FCA).
HY Markets offers trading in a large number of instruments including metals, commodities, stocks, CFDs and foreign exchange through its custom HY Web Trader, as well as the Meta Trader 4 (MT4) platform.
HY Markets offers clients a choice between four account types:
HY Markets Mini account: This requires a minimum initial deposit of $50.
Premium account: This requires a minimum initial deposit of $2500.
Standard account: This requires a minimum initial deposit of $4750.
HY Pro Trader account: This requires a minimum initial deposit of $5000.
HY Markets do not charge commissions on trades and spreads range between 0.5 pips on HY Pro Trader accounts to 1.8 pips on the other account types.
They offer a maximum leverage of 1:300 on all account types, and deposits can be made either through wire transfers or by use of Pay Pal and Web Money.
Withdrawals can be processed by filling an online form and using the same means as deposits.
CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.hymarkets.com/ on March 6, 2018.