HY Options Broker Review

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7 Binary Options

There is a newer binary options broker called HY Options that is getting people’s attention. It got ours too and that is why we decided to feature them here. They have a smooth trading platform that is user friendly and offers their traders some very nice risk management tools too. They are also a broker that is registered so that gives us a lot of confidence in them.

Basic information:

Online since: 2020
Jurisdiction: Cyprus
Software: SpotOptions
Max Returns: 82%
Bonus: 10% Up To $5,000 (Applicable only for HYCM Ltd)
Minimum Deposit: $100
Minimum Investment: $5
Maximum Investment: $1500
Currencies: USD, EUR, GBP
Mobile: Yes
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

– Only simple loyalty bonuses given

7 Binary Options Rating:

Special Features

The website itself is a product that is run by a company called FTSL Financial Trading Solutions Ltd. Their practices are overseen by the respected CySEC regulating body and they are registered with license number 259/14. People sometimes do not recognize how important it is for binary options brokers to be regulated these days (Binary Option Robot, Banc de Binary, 24option, IQ option); regulating bodies have strict rules about how those sites that are registered under them protect their clients deposits and funds. This should give any customer peace of mind that this web broker is not a scam.

Here are the account offerings on HY Options:

  • HY Options Silver Account

An investor needs to deposit at least $250 in an account in order to obtain this account level on HY Options. They will get introductory training and also be assigned an account manager when placed at this account level.

  • HY Options Gold Account

An investor needs to deposit at least $2500 in an account in order to obtain this account level on HY Options. They will get advanced training, free trading signals, market reviews and also be assigned a professional account manager when placed at this account level.

An investor needs to deposit at least $25,000 in an account in order to obtain this account level on HY Options. They will get advanced training, free trading signals, market reviews, up to a 50% sign up bonus and also be assigned a specialist account manager when placed at this account level.

As you can see HY Options only offers simple bonuses and even those only kick in at the higher account levels. If you enter into an account level that does have a sign up bonus you will probably not be happy with the minimum account turnover required before you can withdraw any bonus money; currently that requirement is trading 40 times the amount of your initial account deposit. That is well above average for the industry. It must be noted that you are not obligated to accept the bonus and we respect any site that gives investors that option.

Screenhot

Trading Platform and Assets on HY Options

HY Options showed good judgement when choosing the popular SpotOptions to be their website’s trading platform software provider. It is software that never fails to deliver both superior performance and an easy to learn and use interface. That gives HY Options the ability to support many different option types and many different strategies to use these option types with. We really enjoyed placing trades with this web broker.

Here is a list of all the popular binary option choices that can be traded on with HY Options:

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  • High/Low
  • 60 Seconds
  • Long Term
  • One touch
  • Option Builder
  • Ladder Options
  • Pair Options

This will give any investor an opportunity to find an option choice that fits any trading style. Of course we like any website that offers our favorite option choice which is pairs trading. There are even in trade options such as ‘double up’ which can significantly add to a traders return on investment.

If you have a trade that ends close to your target price at expiration you can invest an extra 30% and extend the expiration time too. There is even a ‘sell’ feature which allows a trader to get back a portion of their trade if it looks like it will end up out of the money; this can be done up to 1 hour before expiration in most cases.

It will give any trader a lot of peace of mind when they can combine the number of option choices with HY Options excellent risk management tools. You really do get the best of both worlds when using HY Options.

The new leverage for UK and EEA* clients is up to 30, while clients from the Rest of the World will still receive leverage up to 200.

*EEA Countries: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK.

HY Options Support Services

The support services on HY Options are very well organized and very professional. They are also a company that is very transparent with their business practices because they are regulated by the reputable CySEC binary options oversight group as we mentioned before. CySEC has strict guidelines that all its members must abide by or they will lose this prestigious certification.

There are 3 ways in which investors can contact HY Options customer support; they are by phone, email or live chat. They were very responsive when we tried to contact them by each method but the only drawback was their customer support is not available 24/7. Their support hours are from Monday – Friday, 7:00am – 4:00pm GMT. Customer support can also be done in several different languages including English, Russian, Arabic, French and Chinese.

HY Options Banking

There are several methods and investor can make deposits and withdrawals with on HY Options. These include such things as MasterCard, Visa, Skrill, PayPal and Neteller. The site is 100% sure and uses SSL encryption to protect your sensitive data. They also have strict identification requirements to protect you when banking with them also.

Most withdrawals are processed within one day if all the instructions for withdrawing are filled out accordingly. Minimum withdrawal is only a very low $20; however, withdrawals under $300 are subject to a $30 fee so that figure is a little misleading.

Our Final Thoughts

Overall we give HY Options passing marks but as you can tell by our pros and cons list there were still a few things we took issue with such as the high bonus turnover requirements and the $30 withdrawal fee for withdrawals that were under the amount of $300. We loved the trading platform and all the variety that it gives any investor the ability to trade the way they like. If you don’t mind the few cons we listed, then we have no problems recommending that you give HY Options a try.

Additional information

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

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HY Options Review

Review

As of September 28, 2020, HYoptions is no longer accepting any new clients. Any traders interested in this company are encouraged to read the HYCM review to learn about the company’s other trading opportunities.

HY Options, headquartered in Limassol, Cyprus, is a market leader in providing retail and institutional investors with direct access to binary options. HY Options is regulated by CySEC and is a trading name of FTSL Financial Trading Solutions Ltd. HY Options offers binary options on all products including FX, metals, commodities, stocks, indices and more.

Accounts

There are three accounts to choose from at HY Options. The Silver account requires a minimum deposit of $100, the Gold account must be funded with $2,500 and a VIP account can be opened with $10,000.

HY Options Account Types

All three accounts receive an account manager, some personal instruction and can be opened either on the web or mobile platforms.

Holders of the Gold Account benefit from trading reports and signals , advanced training and a professional account manager .

Traders in the VIP account can access and trade through the VIP team. They receive leading market and account updates through a range of different options, access to leading market analysis tools through Trading Central, a 1-on-1 educational program on fundamental and technical strategies, 1-on-1 training with an account manager on market analysis, and live market information, access to HY Options financial analysts and access to their innovative Pro-Daily website.

For Day Up/Down, Long Term and Pairs, the minimum investment amount is $10. For 60 seconds it is $5.

I was surprised that a demo account is not offered.

HY Options offers many intriguing bonuses for its account holders:

  • 250 USD to 999 USD – 35% bonus
  • 1000 USD to 2499 USD – 50% bonus
  • 2500 USD to 4999 USD – 75% bonus
  • 5000 USD and above – 100% bonus (max 10,000 USD bonus)

Features

The website at Hy Options is easy to navigate and all items are clearly tabbed.

With HY Options, traders can choose binary options on over 25 currency pairs including EURUSD, GBPUSD, USDJPY and EURGBP; metals such as Gold, Silver and Platinum; commodities including US Oil, corn, coffee and wheat; numerous global equity indices from key economies including the US, UK, Germany, Japan and Hong Kong.

HY Options Products

In addition, HY Options offers binary options on numerous blue chip and tech stocks including Google, Apple, Facebook, Goldman Sachs and IBM.

Since the trading hours for each asset type differs from the other, HY Options gives traders the heads up on when they can place trades by providing a PDF file which lists the exact times for each asset class in different parts of the world.

HY Options offers the standard binary options such as Ladder Options, where clients can select a product to trade and are given a range of price levels which are arranged at equal intervals like a ladder, hence the name. These levels have different expiry times and payout levels. In short, a ladder binary option specifies that the market has to rise beyond, or fall below, several price levels, after certain periods of time while the trade is active.

The long term binary option gives clients the ability to take positions on options that will expire in a predetermined time in the future. And the Pairs option allows clients to choose between two products and pick which product will perform better relative to the other.

An interesting option is the Day Up/Down Binary Option whereby traders speculate on the price of the underlying asset being either higher or lower than the entry rate at expiry. The expiry time specified is within the same day as when the option is placed.

Day Up/Down Option Explained

This is very similar to a Day Up/Down Binary Options. The main difference is that expiry is 60 seconds after placing a trade. The trader predicts whether the price of the product will be lower or higher than the entry rate at the end of 60 seconds.

Deposits/Withdrawals

HY Options accepts only two payment methods: Credit/Debit cards or Bank Wires.

When a withdrawal amount is requested via the online funds withdrawal form, HY Options processes the sum of the original deposit back to a credit card. All other transactions are returned to a bank account.

Education

The FAQ section is nicely divided up into separate areas — Account FAQ’s, Platform FAQ’s, Trading FAQ’s and Payment FAQ’s—so the answers to trader questions can be easily found.

HY Options provides its traders with continuous market information in the form of live prices, live news, market information, SMS alerts, timely market information briefs, advanced charting systems, an ebook and technical analysis tools.

Other additional educational benefits are offered such as SMS alerts sent to traders’ mobile/cell phone, daily analysis emails from credible international banking standard organizations, daily morning fundamental market information reports, a weekly report on important economic indicator releases and markets events, a weekly review of the previous weeks movements and trends in the markets, reports of economic indicator releases that affect the market as soon as these are published and more.

Customer Support

Traders can reach representatives at Hy Option through various means. A Call Back form is available as are email addresses to separate departments at their Limassol headquarters. Telephone contact can be made by experienced support staff at the help desk in local languages or at their main Cyprus address. Chat is available Monday – Friday, 7:00am GMT – 4:00pm GMT.

The Hy Options website is available only in English.

Conclusion

Hy Options is a full service binary option broker. It offers its traders all the right choices and features including several different account types, various different binary options and several trading platforms. The website is user-friendly and easy to navigate. Descriptions are provided for many of the topics discussed on the site and this is beneficial for traders on all levels of trading, especially newbies who are entering the world of binary options for the very first time.

Features

Among the many features at HY Options, the one that stands out the best is the lengthy explanations of the various terms and topics that should be understood by all binary option traders. Each of the binary option types is described at length and at least one example of its application is provided. This is highly beneficial for traders who are just starting out in the world of binary option trading as well as for those traders with some years of experience under their belt.

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    Top Binary Options Broker 2020!
    Best For Beginners!
    Free Trading Education!
    Free Demo Account!
    Get Your Sign-Up Bonus Now:

  • BINOMO
    BINOMO

    Only For Experienced Traders.

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