Like most brokers, HY Markets takes a fee from the spread, which is the difference between the buy and sell price of an instrument.
The spreads displayed below are based on the minimum spreads listed on HY Markets’s website. The colour bars show how competitive HY Markets' spreads are in comparison to other popular brokers featured on BrokerNotes.
|EUR/USD (Average: 0.7 pips)||2.0 pips||0.5 pips||0.8 pips|
|GBP/USD (Average: 1.1 pips)||2.7 pips||0.5 pips||0.1 pips|
|USD/JPY (Average: 1.1 pips)||2.5 pips||1.6 pips||4.0 pips|
|AUD/USD (Average: 0.8 pips)||2.7 pips||0.5 pips||4.6 pips|
|USD/CHF (Average: 2.3 pips)||3.0 pips||1.6 pips||4.0 pips|
|USD/CAD (Average: 2.9 pips)||3.0 pips||0.5 pips||4.6 pips|
|NZD/USD (Average: 3.6 pips)||3.9 pips||2.3 pips||5.7 pips|
|EUR/GBP (Average: 2.4 pips)||4.2 pips||0.5 pips||3.9 pips|
Spreads are dynamic and are for informational purposes only.
As you can see, HY Markets’s minimum spread for trading EUR/USD is 2.0 pips - which is relatively high compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with HY Markets vs. similar brokers.See all Spreads
If you were to buy one standard lot of EUR/USD (100k units) with HY Markets at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $19.91. Here’s a rough breakdown of the fees and how this compares against City Index & XTB .
|Spread from:||$ 18.00||$ 5.00||$ 2.00|
|Total cost of a 100k trade:||$ 18.00||$ 5.00||$ 2.00|
|$13 less||$16 less|
|Visit HYCM||Visit City Index||Visit XTB|
All fees/prices are for informational purposes and are subject to change.
HY Markets offers over 79 different instruments to trade, including over 39 currency pairs. We’ve summarised all of the different types of instruments offered by HY Markets below, along with the instruments offered by City Index and XTB for comparison.
|FX / Currencies||HYCM||City Index||XTB|
|# of forex pairs offered||39||84||48|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|Commodity CFDs||HYCM||City Index||XTB|
|# of commodities offered||10||26||21|
|Index & Stock CFDs||HYCM||City Index||XTB|
|# of Stocks offered||10||4500||1606|
|See HYCM's Instruments||See City Index's Instruments||See XTB's Instruments|
HY Markets also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.See HY Markets 's platforms
With HY Markets, the minimum and maximum trade requirements vary depending on the trader and the instrument.
As a market maker, HY Markets may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.
Finally, we’ve listed some of the popular funding methods that HY Markets offers its traders on the right.
HY Markets support a wide range of languages including English, Chinese, Arabic, and Russian.
HY Markets has a BrokerNotes triple AAA support rating because they offer a wide range of languages and support options.
As HY Markets is regulated by Financial Conduct Authority , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:
You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.
While you might be able to explore HY Markets’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.
To start the process of opening an account with HY Markets you can visit their website here.
CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.hymarkets.com/ on 01/07/2019.
Losses can exceed deposits