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HY Markets Review

Henyep Investment (UK) Limited, the father of HY Markets, has been around since 1977, making it one of the most established players in the game. The company is also regulated by the FSA in the United Kingdom, adding another layer of security to clients who conduct business with HY Markets. Also on offer are 3 trading platforms: Metatrader 4 (MT4) which is very well known among retail forex traders, HY WebTrader which is a browser-based platform and requires no download - primarily for MAC users, and also the HY Trader Mobile, for those who have Pocket PCs and simply cannot ever stay away from the market. The number and variety of tradable instruments on tap is one of the best among forex brokers, offering up a large mix of currencies, metals, commodities, stocks and indices. The only real downside to HY Markets are the high transaction costs, particularly for smaller account holders who are unable to open a Premium Account. As a result, HY Markets is mostly recommended for bigger account holders who not only enjoy the slightly better default spreads, but also have the pull to negotiate the spreads further down. Those traders who are able to get the spreads down a bit further will find some of the best trading conditions anywhere, with security and peace of mind to boot.

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Subjective Ratings

Charting: Four and Half star Charting Rating
Execution: Four star Execution Rating
User-friendliness: Four and Half star User-friendliness Rating
Customer support: Four star Customer Support Rating
Transaction costs (spreads): Two star Transaction Costs (spreads) Rating
Rollover interest rates: Three star Rollover interest rates Rating
Withdrawal processing: Three and Half star Withdrawal processing Rating
Platform Functionality: Four star Platform Functionality Rating
Platform Reliability: Four star Platform Reliability Rating
Average rating: Three and Half star Average Rating

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Business Details

Broker Headquarters: London, UK
Regulated By: FSA (186171)
Client Account Segregation: HSBC London
Collect Taxes on Earnings: No
Accept US traders?:
Main liquidity providers: Unknown
Broker Capital as of 01-1970 Unknown
Also has offices in: Dubai, Hong Kong
Registered Business Name: Henyep Investment (UK) Limited
In business since year: 1977
Deposit/Withdrawal methods:
MethodDeposit FeeWithdrawal Fee
MasterCard $0 $0
PayPal $0 $0
Visa $0 $0
Visa Electron $0 $0
Wire Transfer $0 ($250 Min) $0 ($100 Min)

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Trading Conditions

Browser platform: HY WebTrader
Downloadable platform: HY Markets Metatrader 4 (MT4)
Mobile platform: HY WebTrader
Phone dealing: Yes
No Dealing Desk Execution: Yes
Fixed spreads: No
Guaranteed stop losses? Yes
Hedging capability: Yes
Trading Hours: Sunday 22:00 GMT to Friday 20:00 GMT
Timezone GMT
Scalping allowed: No
Account currencies available: USD
Platform languages: Bulgarian, Chinese, Czech, Danish, Dutch, English, Finnish, French, German, Hungarian, Italian, Japanese, Korean, Lithuanian, Norwegian, Polish, Portuguese, Romanian, Russian, Slovak, Slovenian, Spanish, Swedish, Ukrainian
Support languages: Arabic, Chinese, English
Demo account: No
Live chat support: Yes
Swap-free accounts  
Typical spread on EUR/USD: 3 pips (0.0003) for Premium, 5 pips (0.0005) for Standard, 7 pips (0.0007) for Mini Accounts
Order processing: Market Maker
OCO orders available: No
Trailing Stops: Client-side
If/then orders available: No
Account Types
Account Maximum
Leverage
Minimum/Maximum
deposit:
Minimum/Maximum
trade size:
Notes
Mini Account 200:1* $50/unlimited 2,000 units
Standard Account 200:1* $750/unlimited 10,000 units
Premium Account 200:1* $2,500 100,000 units
Tradeable Instruments: 42   
Automated Trading: Yes, on MT4
Depth of market view (Liquidity): No depth of market view available
Interest on Margin: No
Pending Orders Away from Market:

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* The high degree of leverage available in foreign exchange trading can work against you as well as for you. Investors should ensure they are fully aware of the benefits and risks before putting any money on the line.

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