Hymarkets Review

MIN. DEPOSIT $100
Up to 500:1
Initial deposit BONUS
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Hymarkets
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Overview

Company Information When we’re talking about companies with an established brand and a lot of popularity amongst traders HYmarkets is one of the names that all people should know. This… more

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Details

BrokerHymarkets
Website URLhttps://www.hycm.com/en
Founded1980
HeadquartersLondon, United Kingdom
Support Number+ 44 - 208 - 816 - 7812
Support Emailinfo@hycm.com
Support TypesPhone, Live Chat, E-mail, Call Back
LanguagesEnglish, Arabic, Russian, Chinese
Minimum 1st Deposit$100
Minimum Trade Amount0.01 lots
BonusInitial deposit
PayoutUp to 500:1
Free Demo AccountYes
Regulated Yes
RegulationFinancial Conduct Authority (FCA)
Account TypesMicro, Standard, VIP
Deposit MethodsVisa, MasterCard, Bank Wire, China UnionPay, Webmoney, Skrill
Withdrawal MethodsVisa, MasterCard, Bank Wire, China UnionPay, Webmoney, Skrill
Types of AssetsForex, Metals, Oil/Gas, Indices, Stocks, Commodities
Account CurrencyEUR, USD
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

When we’re talking about companies with an established brand and a lot of popularity amongst traders HYmarkets is one of the names that all people should know. This brand is owned by Henyep Capital Markets UK Ltd., which is part of the Henyep Group conglomerate. The company has more than 30 years of history in the financial and trading services, and their platform HY markets are one of the oldest launched in 1999. Their popularity has spread to three continents and more than 20 countries around the world. Headquarters of the company are located in London, UK, and they also have offices in UAE and Hong Kong. It’s authorized and regulated by the FCA in the UK, DFSA in UAE and SFC in Hong Kong. US clients, however, are not accepted. Throughout the years, this platform has evolved a lot and nowadays it offers unmatched trading experience and lots of new features. Every trader has at least once stumbled upon the name of HYmarkets and now we’ll explain what services they provide.

 

Trading Information

With such a long history behind it, you should expect that this online broker has things figured out, and you’ll be right. They offer Forex, stocks, indexes, soft commodities, metals and energies as trading instruments. The number of currency pairs is 22 which is enough for a nowadays trader, but it counts a low compared to the industry standard. Features you can take advantage of are hedging, scalping, trailing stop, pending orders, one-click trading, mobile trading and automated trading. As you can see you have almost all the current options that expert traders uses in their daily trading.  There are four types of accounts that HYmarkets offer. The mini account needs just a $50 deposit to start trading and offers almost all the features. The standard, Premium, and HY Pro accounts will give you some benefits but require much higher deposits. There is also an Islamic account option. Their Demo account option with $50 000 in virtual money can give you an idea of how the markets are working. Spreads are fixed and the EUR/USD one is 1.8 pips. Leverages are set to 1:300 but institutional traders may be limited to 1:100. There have been reports that they could go as high as 1:400 but in rare cases.

 

Trading Platforms

HYmarkets have made the effort to enhance the usual platforms and offer a reliable and safe environment for traders. Starting with the trusty Metatrader4 platform where traders can take full advantage of fast trading and all the needed features. There’s not much to discuss here the platform has been available for years and is the main trading tool for most clients. The MT4 is also available for a mobile device for people who are away from their home or office. Downloading and installing the MT4 on your device might be a bit of a hassle that’s why HYMarkets have their HY Webtrader and MT4 Webtrader platforms. They are very easy to use, and it’s very easy to deposit cash from your credit or debit card. Finally, HYMarkets offers their sophisticated platform called HY Pro Trader. To be able to use it you’ll have to deposit at least $5000. The benefits that this platform has are many. You have excellent visuals, and you can quickly open, close or cancel orders. Everything is polished, so you don’t have to modify it that much to make it work for you.

 

Security and Customer Services

With 30 years of experience in the financial services industry HYMarkets can provide you a safe and secure trading experience. The company offers segregated accounts where you money will be deposited in top tier banks (like Barclays Bank). The site offers an SSL encryption for all credit and debit card deposits. It means that your personal data will be protected from theft. Their customer support unit is excellent and has a 24/5 service. Their representatives are highly trained and very quick to respond. Support is available in Chinese, English and Arabic. There are several ways to get in contact with them. You can request a callback, phone them directly, write an email or use their live chat option. The site offers free trading education and a personal advisor option.

 

Deposits and Withdraws

To deposit money into your HYMarkets account, you can use one of several banking methods. The most popular credit and debit card options are available as well as some digital wallets like SKRILL and Paypal. They also offer a Bank Transfer, but it’s not the best choice if you can use the other methods. For all methods (except for Bank Wire) there is a 5 minute processing times which is quite fast. There are no fees mentioned on their site, but you should expect that your bank might charge a small amount for the transfer. Withdrawals are made easy with an online form that you should fill. After it has been approved by the company’s representatives, your transfer should go through hassle free. Processing times are relatively fast and mostly depend on the chosen banking methods. There haven’t been any serious reports about withdrawing money from HYMarkets, so we can consider it a safe choice.

 

Deposit Bonus and Loyalty Programs

Being in the industry for that long, HYMarkets knows that they need some tempting offers to generate more clients. Their current offer is a 10% cash bonus or 25% trading credits on your first deposit. The maximum amount of this bonus is limited to $5000. They also have a loyalty program which rewards loyal clients with rebates of up to $3 for every lot of gold, silver or platinum traded

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