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HY Options (closed) Review, Rating and Comparison

HY Options Review, Rating and Comparison
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Basic Information

 

Minimum deposit  Min./Max. bet size  Payout %  Bonus Trading platform
$100  $5/$1500 70% - 85% 50% (up to $10000)  SpotOption: desktop, web & mobile


  

HY Options is a Cypriot Binary options broker, offering trading in over 200 assets on the most popular SpotOption binaries platform under quite competitive trading conditions.


This is one of the brokers, placing a focus on training, offering a number of education articles, e-books, tutorials and videos.


Trading Accounts


HY Options offers its clients a choice of three basic account types, depending on the initial deposit: Silver, Gold ($2 500) & VIP ($10 000). Gold clients are getting Trading reports and Signals and professional account manager, while VIP clients are entitled to Dedicated Account Manager, Access to HY Options Financial Analysts, 1-on-1 Educational Programs & trainings, as well as Up to 100% Cash Bonus.


The Company. Security of Funds


HY Options is a binary options broker offering online trading in currency pairs, indices, commodities, stocks and precious metals. HY Options is a trading name of HYCM (Europe) Ltd. (formerly known as FTSL Financial Trading Solutions Ltd). The company is a part of Henyep group along with forex broker HY Markets. the group was set up 35 years ago and nowadays has a global reach and is active in in Europe, the Middle East, and Asia.


HYCM (Europe) Ltd. is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC).


In order to provide a certain level of security, Cypriot financial watchdog applies a set of rules and requirements to license holders. First of all, CySEC requires Cyprus-based brokers to hold a minimum of €730 000 in order to prove their good financial standing. Moreover, all CySEC-regulated companies are members of the Investor Compensation Fund, which may cover tour investment loss to a maximum of 20,000 EUR per person in the event that the broker becomes insolvent. Such compensation schemes serve as an additional guarantee to clients’ funds.


In addition, as CySEC is part of the European MiFID regulations, and the companies regulated by the Cypriot financial watchdog are free to operate in all EU Member States.


What is more, this broker has registered with a number of EU authorities, such as FCA, BaFin, KNF, CNMV and others.

 

Trading Conditions


Trading Options: Up/Down, 60 second Pairs, one touch, Ladder.
Assets: Currencies, Stocks, Indices, Commodities, Metals
Expiry Times: 60 sec, 2min, 15 min, 24h, 24 hr+, End of Day

 

Minimum Initial Deposit
The minimum initial deposit for clients of HY Options is $100, which is a comparatively low initial amount. In comparison, Banc de Binary requires 250 EUR from traders to open an account.

 

Min/Max bet size
The minimum bet size with this broker is on the lower end of average, amounting to $5. In comparison, with Banc De Binary one can place a trade with just $1. Such low minimum bet sizes provide better risk management.

 

Payout amount
Depending on the Trading Options and expiry times, payout percentage offered by HY Options ranges from 70% to 85%. For instance, A Day binary Up/Down for EUR/USD has a payout of 85%. 60 Seconds Binary Options have a payout of 70%.
In comparison, Banc De Binary’s payout for the 60 Seconds EUR/USD pair is also 70%. 


Of course, the greater the percentage payout offer by the broker, the larger the return of traders.


Trading Platform


Like most binary options brokers, HY Options supports the SpotOption platform, available as desktop, web and mobile versions.
The platform offers useful functionalities, such as Double Up, Roll Over & Settle Now.


Double up enables traders to increase their initial investment at any time during the option term. Traders can “double up” their investment amount at any time.


Roll over, on the other hand, allows clients to delay the expiration time of the position to one of the next options. Clients may use this feature on a losing position and only once and an additional 30% will be added automatically to the initial investment.


Settle Now function allows traders to sell their binary option, up to 1 hour before the option expires. This feature helps traders to limit and reduce their loss and allows them to secure their profits early.

 

On-Deposit Bonus
Welcome bonus from 50% to 100% of the initial deposit (up to 10,000 USD) is available to clients of HY options. In order to qualify, a trader must deposit a minimum of $250, which can be withdrawn after trading 40 times the volume of the bonus value.


Methods of Payment


There are several payment methods available to HY Options’ clients: Credit/Debit cards (Visa and MasterCard) and Bank Wire.


Accepted currencies: USD, EUR, GBP.


Conclusion


HY Options is a reliable and licensed EU binaries broker, offering a variety of assets and trading options on the SpotOption platform under reasonable conditions. To sum up the above, here are the advantages and drawbacks in relation to this broker:

 

Pros  Cons
CySEC-regulated Mediocre returns
Low initial deposit & min. bet size
Comprehensive Educational Package  
A selection of binary option choices & assets   

 

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