HY Options Broker Review
We have found out that HY Options is closed.
We recommend choosing one of our top binary option brokers instead:
1. IQ Option
2. Banc de Binary
Try also a Binary Option Robot if you are looking for automated binary trading.
HYOptions is a subsidiary of a large Cypriot Finance Corporation – FTSL, which derives from Financial Trading Solutions Ltd. It is not surprising that the broker has a Cyprus registration; specifically, it is registered in Limassol. The broker is regulated by CySEC, the most popular and reputable European authority for financial brokers. Its number is 259/14.
HYOptions is a relatively young company. However, despite its recent start, the broker managed to achieve decent results and gain the clients’ trust. As we could observe, HY Options has a great platform from SpotOption and applies the latest risk management and security instruments.
Dealing with a regulated broker is very important, especially in the latest period when more and more brokers try to get larger portions of the binary market. Some of the brokers even apply unorthodox schemes and scams. This is why as a client, you should look exclusively for a regulated broker, and HYOptions got its regulation.
Online since: 2015
Max Returns: 82%
Minimum Deposit: $100
Minimum Investment: $5
Maximum Investment: $1500
Currencies: USD, EUR, GBP
Countries: All But US, Iran, Iraq
– It is a site with a very user friendly platform
– It has a large amount of binary option choices
– Large amount of assets to choose from
– Fast withdrawal processing times
– Low minimum withdrawal amounts
– No demo account
Binary Minery Rating:
HYoptions Special features
HYOptions makes an effort to serve a wide range of clients, who may have different plans in relation to binary trading. Accordingly, they have more account types that require different minimum deposits. They are:
- HY Options Silver Account
- Minimum $100
- Account manager
- Basic training
- HY Options Gold Account
- Minimum deposit $2500
- Professional account manager
- Advanced Training
- HY Options review of the market
- HY Options VIP
- Min $10,000 deposit
- Specialist account manager
- Professional Training
- HY Options review of the market
- up to 50% bonus
One of the advantages that can attract beginner traders is the relatively lower minimum deposit, which is $100. For comparison, the average minimum deposit of top brokers is $250, so you may see the difference.
Here is their asset list:
- 33 Forex pairs, including EUR/USD, GBP/USD, EUR/JPY, and exotic pairs like USD/ZAR, USD/TRY. You can also trade Bitcoin. Many traders prefer Bitcoin trading because it is available even in weekends, when most of the markets are closed.
- 11 commodity instruments, including corn, sugar, oil, wheat, coffee, silver, platinum, and gold in relation to USD, silver, and oil.
- 40 stock indexes, such as Dow, CAC, DAX, NASDAQ, S&P, and more.
- 84 stocks, including companies from pharmaceutical, IT, oil, auto, telecommunications, and more important market sectors. Yahoo, VW, Google, Toyota, Siemens, are only a few examples
As we could note, the asset list is quite impressive. Few brokers can boast with 40 indices or 84 stocks. Depending on your psychology, you can find everything you need.
Another great feature of the broker is their educational section on the official website. The clients will find ebooks, videos, calendar, and so on.
HYoptions Trading software
HYOptions trading platform is not the creation of the broker’s experts. It is a system designed by SpotOption, a popular platform developer in the binary options market. The platform is web-oriented and works without any problems.
These are the trading instruments that you can choose from:
- Classic binary options – It is the most common type of contract, which allows you to earn on fluctuations in the asset price. The client has to predict whether the price will go up or down, and buy CALL or PUT options based on that.
- Pair options – This instrument is great for beginners. The broker puts two assets together and the client has to predict which of them will reach higher. For example, one can trade Facebook/Twitter pair.
- Long-term options – This is a variation of classic options. However, if in the first case we are talking about trading within the day, but the long-term options refer to much longer durations, from two days to three months.
- Turbo options – This is another variation of classic options, yet the expiry time in this case is up to 3 minutes. The most popular turbo options are 60-second options.
- Ladder – This is a relatively new trading instrument in which the trader can generate profits up to 1500%. However, it is clear that more potential profits mean more risks.
HYoptions Support information
HYOptions is very close to its clients and this is achieved with the help of an impressive customer support service. Don’t forget that CySEC obliges brokers to have a proper method for receiving and managing complaints.
The client will be possible to withdraw money from the trading account only after passing the identity verification procedure, which is specific for all the brokers out there. This is actually a standard procedure for security purposes. After verification, the client can apply for the withdrawal of funds, which will be processed by the broker’s managers in up to 5 working days. After that, the money will be transferred the same way they were deposited by the client, so make sure you choose the most preferred payment method when making the deposit.
Yet, there are more important nuances that should be taken into consideration. The withdrawal procedure will automatically coincide with the deposit method only for the amount that was initially deposited, while the rest of money will be transferred via bank wire transfer, which requires a $25 fee. There is an additional $30 fee in case you want to withdraw less than $300 by bank wire transfer, so make sure you accumulate more money for withdrawal. The great thing about the broker is that it has a low minimum withdrawal limit, which is only $20.
The security measures are standard. The broker uses SSL data encryption, which guarantees safe data transfer.
Customer Service: Live Chat, firstname.lastname@example.org
Languages: English, French, Russian, Arabic, Chinese
Trading Options: High / Low, One Touch, 60seconds, Long Term, Option Builder, Pair Options, Ladder Options
Assets: Currencies, Stocks, Indices, Commodities
Early close: Yes
Expiry Times: 60 sec, 2min, 15 min, 24h, 24 hr+, End of Day
Deposits and Withdrawals: Visa, Mastercard, Bank Wire
Withdrawal Time: 2-3 days
Demo account: No
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