HY Options Review

Review

As of September 28, 2016, 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 FAQ

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.

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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.

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Platforms

HY Options Trader

With the HY Options Traders platform, traders can choose Binary Options such as Up/Down, 60 second and Pairs quickly. They can also use of platform features such as Settle Now, Double Up and Roll Over.

HY Options Trading Platform

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

The Roll over features gives clients the opportunity to postpone the expiration time of a position to one of the next options. Clients would use this feature if they don't feel that their original prediction was correct, or if a trade approaching expiry is closed and a trade of the same size and direction is opened for the next period.

The Settle Now function allows traders to sell their binary option up to 1 hour before the option expires. If the trader wants to exit his option before it expires, he can click on the ”Sell” button in the Settle Now zone and the system will offer a price to close the trade at that time.

The prices shown in green on the platform indicate a higher rate than the previous trading day's closing level. Red indicates a lower rate than the previous trading day's closing level.

Options Overview

Mobile

Clients at HY Options can trade on mobile devices including iPhone, iPad and Android. These apps allow traders to perform the same functions and use the same tools as they would with the web-based Hy Options Trader platform.

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User Reviews

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