HYOptions

Editor’s Note – Why HYOptions Doesn’t Suck in 50 Words

If I would to give two good reasons, the first one would be that they are regulated by CySEC. The most important second reason is their terms & conditions and bonus policy. They have a very progressive policy similar to what we’ve been seeing with the new age of trusted broker. What’s truly unique is that HYOptions tells you about all of the possible conflicts of interest between them and you!

Why Does HYOptions Suck in 50 Words

I simply don’t like the dormant account rule. It is understandable that they have some handling fees due to regulations but 25 dollars a month after being dormant for 90 days is a bit too much. In their defense, their minimum investment is very low and 90 days is quite a lot of time.

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HYOptions Review – Regulated and a Unique Honest Policy

HYOptions is a CySEC regulated firm since 2014 with the license number 259/14. They are owned by FTSL Financial Trading Solutions Ltd and located in 15, Spyrou Kyprianou Avenue, Matrix Tower II, 1st Floor, Mesa Geitonia, CY-4001 Limassol. For general information, you can contact them through live chat and email.

At first sight, HYOptions might come off as “just” another regulated broker powered by SpotOption. With more and more brokers creating their own unique and fast platforms one might get turned off by the fact that a broker is using SpotOption. Don’t get me wrong, nothing wrong with SpotOption, especially when the broker that is offering it is a regulated company. My point is just that there are a lot of SpotOption brokers to choose from. The difference in HYOptions case is in how they operate, the star is their unique terms and conditions which come with a very uncommon honesty that will surprise everyone! Almost makes you think that they were “HY” on something ;). Ok let’s get to it!

There is a section on HYOptions website called “Legal forms & documents”. Here you will find all the important terms and conditions. The one that caught my eyes the most was the document called: “conflicts of interest policy”. In this document, it clearly states that the company and their employees such as account managers etc, are in a conflict of interest with the client and therefor, measures have been taken to avoid these conflicts. Here is a quote:

“In addition, according to Law, the Company must take all reasonable steps to identify conflicts of interest between itself, including its managers and employees, tied agents or other relevant persons, as well as any person directly or indirectly linked to them by control, and their clients or between one client and another, that arise in the course of providing any investment and ancillary services.”

There is more of course and many examples of where and how conflicts can occur. I suggest you read that document for yourself after this review. In conclusion, the policy is there to prevent possible conflicts and that is something I wish all brokers would provide! So what if a conflict still occurs? There is a complete manual on how to file a complaint. This is truly great, it means they are taking their business seriously and don’t just plan to stop answering your calls IF there happens to be a conflict – like some brokers unfortunately do!
The bonus policy is pretty decent. There is no bonus lock, your money is yours to withdraw but if you wish to withdraw the bonus, you need to reach a 40x the bonus volume. A 50% welcome bonus is available but they are capped at $7000. 40x is relatively high but what I am happy to see is that they don’t rush you into reaching the volume, there is no time limit on the bonus. You deal with it in your own time and as you wish!

I won’t spend much time discussing the platform in this section. Because it’s a typical SpotOption based platform, it looks good and offers many types of trading opportunities. Short term trading is available like 30 seconds and up, with only a minimum of 5$ per trade or high/low, long term, pairs, touch and ladders with 10$ minimum and above. Some features are “Settle Now” (close position early) and “Roll Over” (prolong expiry).

A couple improvements I would love to see is additional deposit and withdrawal methods and a demo account for beginners. Overall, I think HYOptions seems to be a good choice for anyone who is tired of scam brokers and dirty tricks.

Is HYOptions a Scam?

HYOptions is not a scam. They became known in the beginning of 2015, and so far though, they haven’t brought any negative attention on themselves and that is a good sign. The conflict of interest policy that they have implemented, a so called “Chinese Wall”, will prohibit those good old dirty account manager tricks and will keep you safe. And if a there is a problem that disturbs you, HYOptions even helps you file a complaint and solve your issue. We’ll just have to keep monitoring and update our readers.

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HYOptions Complaints

So far so good, there are currently no complaints. See above section “Is HYOptions a scam?”.

HYOptions Bonuses

There is a 50% welcoming bonus and the required volume to release it is 40x the bonus. The bonuses are capped at a maximum of $7000. In addition, there are no bonus locks and no time limit to reach the required trade volume.

HYOptions Withdrawals

Withdrawals are processed within 10 business days and are charged 30$ if the withdrawal volume is equal or less than 300$. It’s pretty high but on the other hand, if you withdraw funds above 300$ you will always have free withdrawals!

HYOptions Ratings

User Friendliness 17/20
The SpotOption platform is user friendly and there is an education center to get you on your feet. HYOptions is available in 5 languages and the terms and conditions are well explained and categorized.

No. of Assets and Expiry time 18/20
There are 27 currencies, 6 Metals, 5 Commodities, 40 Indices and 84 Stocks adding up to 162 in total. The asset index is relatively big and the platform offers pairs, ladders, touch options, short and long term trading. Expiry times are every 15 minutes to hourly, end of day, week, month and every six months. Short term starts at 30 seconds up to 5 minutes.

Commissions, Support and Effective Return 15/20
The highest return is 82%, relatively okay but not the highest in the industry. There is a withdrawal fee for any withdrawals ≤ 300$. Live chat is available on business days to provide support.

Deposit, Payment and Bonus 15/20
There are only three transaction methods available which is very limiting. Bonuses reach up to a 7000$ max or 50% for new clients but the terms are decent, as explained before. Needed volume is 40x the volume and everything is well-explained in their bonus policy.

Website Extra’s 10/20
Advanced trading tools for technical analysis inside the platform plus the most cutting edge platform SpotOption has to offer.

HYOptions Overall Ratings  81/100

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