HY Options Review
HY Options is a regulated binary options broker, and a relative newcomer to the world of binary options trading. Its main offices are located in Cyprus, and as such it is regulated by CySEC. HY Options is actually the trading name of a company called HYCM (Europe) Ltd, which was previously known as FTSL (Financial Trading Solutions Ltd). We bring you this HY Options review in order to help with your decision regarding the best binary options broker to use.
There are three options if you’re considering opening an account with HY Options.
- HY Options Silver Account – This account requires a minimum deposit of $100. On offer are the services of a personal account manager, introductory training, and access to both Web and mobile platforms.
- HY Options Gold Account – The minimum deposit for this account is $2,500. Available for traders opening this type of account are a professional account manager, advanced free training, free trading signals, and market reviews.
- HY Options VIP Account – If a trader has $10,000 or more to invest then this is the option.This account entitles traders to the services of a specialist account manager, professional training, and free trading reports and signals.
You may be wondering whether any of these accounts come with an HY Options bonus. The bad news is that there is currently only one HY Options bonus, and it comes when you start trading and open a VIP account. But the good news is that the welcome bonus is 100%. However, as is often the case with any kind of bonus, there is a sting in the tail. One requirement is that a bonus is only available for withdrawal after trading 40 times the volume of the HY Options bonus value. We therefore advise you to read the bonus terms and conditions on the HY Options binary trading website before making any kind of commitment, because this requirement could be crippling.
HY Options have chosen well for their trading platform.
A core element in the success of HY Options is the versatility of their trading platform. It is easy to navigate and simple to understand, as well as providing a number of cool options for users. This very advanced trading platform offers options such as Up/Down, 60 second and Pairs. It also has features such as Settle Now and Roll Over. There are more than 200 assets to choose from for trading, including the usual stocks, commodities, and indices. There are also a number of more unusual assets such as metals and Forex.
Opening an account is quick and easy, and it is claimed it can be done in less than 5 minutes. In addition, there are advanced charting and technical analysis tools for traders to use when considering their trading strategies.
Well organised and professional support in a variety of languages
Support services offered by HY Options binary trading are very professional, and there are three ways in which investors can contact customer support. There is a dedicated telephone number, a live chat option, and a number of different email addresses depending on your query. Each method appears to be very responsive, with the only drawback being the limited time the lines are open for. Hours of support run from 7.00am to 4.00pm on Mondays to Fridays. There are a number of language options including French, Chinese, Arabic, Russian and English.
Payment methods are safe and secure.
There are a number of ways investors can make withdrawals and deposits, including all the major credit and debit cards, wire transfer, and other local payment methods. All client details are kept safe and secure, as HY Options has adopted a 128-bit encryption key for details and transactions. VeriSign is partnered with HY Options for added security. No third-party transfers are allowed for deposits and withdrawals.
We should also mention in this section of our HY Options review that withdrawals can take up to 10 days to be processed, whereas deposits are almost instantaneous. HY Options claim that this is for the added security of their investors’ funds, and to ensure that all funds are returned safely. The process includes a number of security checks that have to be completed before the withdrawal can be processed. However, they also feel the need to point out that requests are usually processed within 72 hours, and any further delay will be down to individual banks.
All in all, HY Options shows itself to be a worthy competitor in the binary options trading market. It has a lot to offer both new and experienced traders, and many other brokers will struggle to match the level of quality. We were unable to find any serious complaints about this binary options broker, which is definitely great news.