- Established in 2007, Strong Financial Backing from Parent Company, Asian Financial Giant, Henyep Group
- Under the Strictest Regulatory Regime in Europe, No Record of Fines from UK’s FCA
- Offers Some of the Tightest Fixed Spreads (EURUSD 1.8)
- Offers Higher Leverage Than Most European Brokers (GBPUSD 312:1)
- A Good Choice for an Experienced Trader Who Focuses on Trading FX Majors and Wants to Minimize Transaction Costs
- Established -2007 (HY Markets), 1977 (Henyep Group)
- Domicile -United Kingdom
- Regulation -
- United Kingdom – FCA (reference number 186171)
- Restricted Jurisdictions -United States
- Ownership -HY Market’s parent company, Henyep Group, is a privately held Financial Services and Real Estate Conglomerate based in Hong Kong.
- Segregated -Market Maker except for Pro STP accounts
- Broker Type-Market Maker
- Web Security -Verisign
- Negative Balance Protection Policy -No
overview of HY Markets
Established in 2007, HY Markets is the London based forex trading arm of the Hong Kong financial services conglomerate Henyep Group. The United Kingdom’s FCA regulates HY Markets. The FCA is known to have far more stringent regulatory standards than its Cypriot counterpart CySEC, the principal regulator for most European Forex brokers.
A highly polished operation with no record of regulatory issues, HY Markets has won many prestigious industry awards in recent years from well-known organisations like FX Report and World Finance.
HY Markets delivers a lot of value to its customers by offering some of the tightest fixed spreads along with the high leverage on forex pairs. However, HY Market’s product offerings aren’t as deep as its peers. For example, while HY Markets allows you to trade equities, it only offers CFDs on 12 companies.
HY Market’s market analysis and educational content is somewhat limited as well. It only has a few essential articles and doesn’t offer webinars, courses or instructional videos like many other brokers. Despite low transactions costs and account minimums, HY Markets also levies quite several fees when you try to take money out of the account.
Overall, HY Markets is an excellent choice for an experienced forex focused trader who wants to minimise transaction costs and does not plan on frequently move money in and out of their account. HY Markets might not be a good fit for novice traders who could benefit from more educational resources or traders who are also interested in trading equity and commodity markets as well.
HYCM Trading Features
While the HY Market’s product offerings span many different markets, its depth of coverage is relatively shallow. HY Markets only offers 40 Forex pairs where most brokers provide over 50. Although they offer CFDs on shares, indices, and commodities, you can only trade 12 companies, eight indices and four products. While this is not a problem for focused forex traders, it can be limiting for traders who like to trade across markets.
HY Market offers higher leverage than most other brokers. For illustration, most forex brokers provide up to 200:1 leverage on EUR/USD, but HY Markets offers 221:1 leverage. The amount of leverage varies and depends on the volatility and liquidity of the specific forex pair. For example, HY Markets offers up to 312:1 leverage on GBP/USD but only 88:1 leverage on EUR/TRY (Euro vs Turkish Lira).
HYCM Market Analysis & Education
HY Markets offers its daily and weekly market commentary. These not in-depth treatments of market events and merely describes what happened without much analysis. Customers with a minimum deposit of $250 are given access to trading signals from a leading independent technical analysis research firm, Trading Central.
HY Markets doesn’t offer a lot of educational content on its website. While many brokers provide detailed E-courses and webinars, HY markets only has a few brief articles on general topics available. This may not be an issue for an experienced trader. However, novices may be better served by a broker who provides more resources.
HYCM Trading Features
- CFD's -Forex, Commodities, indices, Stocks
- Currency Pairs -40
- Leverage -Up to 300:1, varies by currency pair (221:1 for EUR / USD)
- Cryptocurrencies -No
- Options -No
- Trading Signals -Yes, Trading Central
- Automated Trading -Yes
- Social Trading -No
- Phone Trading -Yes
- Platforms -
- HY Webtrader (browser), HY Webtrader Mobile (ios, android), Metatrader 4 (PC), MetaTrader 4 Webtrader (browser), Metatrader 4 Mobile (ios, Andriod), HY Pro Trader (PC)
- Metatrader -Yes
- Mac Software -No
- Mobile Trading -Yes
- Online Support -Live chat and email
- Phone Support -24/5
- Multi-Lingual Support -Yes
- Personal Account Manager -Personal VIP Customer Service for Accounts larger than $2,500
- Minimum Initial Deposit -$50
- Base Currencies -USD
- Minimum Lot Size -2,000
- Account Types -Mini, Standard, Premium, HY Pro Trader
- Payment Options -Visa, Mastercard, Paypal, Skrill, Wire Transfer, Web Money
HYCM Safety and Security
HY Markets is the Forex trading arm of Asian financial giant Henyep Group. Henyep was founded in 1977 as a gold trader in Hong Kong. It expanded to stocks and commodities and became a member of the Hong Kong Stock Exchange, Hong Kong Futures Exchange, and The Commodities Exchange of New York. Henyep also has a capital market group based in London, and an investment bank in Dubai, Consumer Finance arm in Hong Kong, and a property investment JV with China Construction Bank. Although it is privately held, it is a well-established and deep-pocketed company with global reach
Regulated by the FCA, HY Markets is subject to one of the strictest regulatory regimes in Europe. This gives HY Market’s customers a greater amount of customer protection. For example, HY Markets’ customers have the maximum benefit of GBP 50,000 under theFinancial Services Compensation Scheme where customers of CySEC regulated brokers only have a maximum benefit of EUR 20,000. In its eight years of operation, HY Markets has had no record of a fine or sanction by the FCA.
HY markets also uses cutting edge technology to ensure data protection and the integrity of its network communications. All transactional and account information is encrypted with VeriSign issued 128-bit-SSL certificates.
Conclusion for HYCM
HYCM brokerage company has a strong and very reliable reputation in the financial market. They are offering professional services to the traders while highly regulated.
as beginning trades are abe to open an account for only $100 we find that with the additional services they offer this to be a perfect brand for the beginning traders.
customer support team stands ready to help or even seasoned traders that may be allured by offered conditions.
Yet, it will be good to know your personal opinion about HYCM, which you may share in the comment area below.