HY options is a new binary options broker we decided to feature on Fair Binary Options. Through the HY Options review we discovered this is a nice platform that many traders will love to use due to its advanced risk management tools and user friendly policies. HY Options is also a registered broker making the decision to include them into our broker list easier.
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HY Options is a brand of HYCM (Europe) Ltd, Cyprus, which is regulated by CySEC with ref. no. 259/14. This is a very important point for many binary options traders since due to numerous cases of reported scams in the industry it is important that they can rely on some authority to ensure minimum standards in customer protection. HY Options has many great features and we want to present them in this review. First we are going to go through HY Options’ rather simple account offering:
As mentioned in the intro to HY Options review, the broker has a rather simple loyalty programs offering that includes the most important aspects of the trading experience.
HY Options review of T&Cs showed us this broker has a fair policy. They require 40x to withdraw bonus, which is over industry average. However, they have a 20x threshold for traders who wish to cancel the bonus. As with other losses too, trading losses are withdrawn from the invested amount, so we ask traders to be careful about this and not accept bonus with HY Options or any other broker, unless they understand the terms.
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HY Options uses the well known SpotOption platform that guarantees superior performance on a easy to use interface. They have really created a nice environment for trading that we enjoyed during the HY Options review. The HY Options platform supports many binary options types and we are confident many traders will find that they can exercise almost any strategy buy using these options. Our HY Options review was a pleasant experience because of this.
In HY Options review we see no need to individually present all the separate binary options types since these are well known terms, this is why we will list all the types of binary options that can be traded on HY Options platform:
We think this is a very nice list that takes into account all the various trading styles in binary options. HY Options review was markedly more fun after we discovered our favorites – HY Options pairs trading.
In the intro to HY Options review we also mentioned that this broker has great risk management tools. These are also well known.
HY Options Double up allows traders to bring more to the table if the option looks like it will end in the money.
HY Options Roll Over is there to delay the expiry time of an binary options if trader thinks in the near future the price might take the direction that she desires. This tool requires additional 30% investment and works only if trader is on the loosing end of the option.
HY Options Settle now is especially interesting since it is not that we see it often with other brokers. It allows trader to sell her binary options up to one hour before expiry in order to limit losses.
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HY Options review also shown that this broker has a well organized support service for traders. The company is transparent about their dealings since they are bound by CySEC which also requires complaint procedures to be well defined.
Traders can contact HY Options support by live chat, phone or get a phone call back. There is also a e-mail contact and a contact form so we are sure no one will have any problems in reaching HY Options. The broker claims they have 24h support, however, their support details state the support on chat and phone is available Monday – Friday, 7:00am GMT – 4:00pm GMT, so not all day and not every day.
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HY Options supports the usual set of credit cards, however, they do not mention other means of payment on their website. Their representative assured us they also accept some other means of payment such as Skrill Moneybookers, Paypal, Neteller. However, we did not see this option anywhere so we guess it was planned for future developments on HY Options. Supported credit cards are MasterCard and Visa. All transactions are encrypted using the newest SSL encryption layer.
Withdrawals are also fast and it takes HY Options staff one day to process the request if all is done according to the instructions. Minimum withdrawal is super low – only $20. we think that is great – however, a processing fee of $30 is charged for withdrawals smaller than $300 as we learnt during the HY Options Review.
We make it our mission to not recommend anything but the best – which, according to industry experts, is FXMasterBot, a trading software that lets YOU choose the broker and also provides fast, reliable and FREE trading signals!
