HY Markets Review – Commodities Trading

HY Markets

HY Markets offer quite a wide trading portfolio, including spreadbetting Forex, and commodities. Commodities can be traded through their spread betting system, although if you are new to the trading game, you’ve either got to have balls the size of a bull, or a hell of a lot off spare cash that you can afford to lose. We would recommend commodity trading on the Forex platform if you haven’t traded before.

There is nothing inherently wrong with spread betting, but for a beginner, the temptation to up the stake a few quid is ever present (as long as you can meet the huge margin requirements). If you use the ‘Forex method’ there is only gold and silver to trade on, but until you’ve got your ‘trading wings’, two commodities to trade is enough to be going on with. Commodities trading is complex, and before you get carried away with coffee and palm oil, get to know gold and silver.

Commodities trading is not rocket science, but like anything else, it takes a bit of time for certain basic principles to sink in fully. One of the worst things you can do is ‘mess around’ with loads of different products when you should really limit yourself to one or two until you have developed at least a feel for the way that prodcuts move, or you’ve developed enough analytical skills to use your own criteria for deciding whether or not to place a trade.

HY Markets’ software comes in two versions, online, and download. The online trading software just about does the job, whereas the download is full blown industry standard trading platform. The download – Metatrader 4, is a huge piece of software built for serious trading, and it will probably take a while to get your head around all of it, but if you are committed, it is necessary to do your homework. Having said that, there are traders who make an earning from just looking at the charts without the need for signals or analysis – and bearing in mind the fact that there is no guaranteed analytical system it basically comes down to your trading style, and how you fare.

Despite the software’s complexity, for basic trading functions it is very user friendly. Select you pair, select buy/sell, then set your take profit/stop loss. It doesn’t have to be difficult, but, it is good to have the options if required. You can also use the software to trade forex currency pairs, and bearing in mind the previous caveat regarding diversifying too early, it is good to follow maybe one popular pair such as the GBP/USD.

All in all, if you use a PC and you want to trade commodities, then HY Markets is a highly viable proposition, but have a look a go of their demo, and make your own mind up!

Sign Up at hymarkets here

metatrader4gold

The Facts

How To Open An Account

Minimum Deposit

  • $50

Minimum Trade

  • $10

Promotions

Deposit Withdrawal

  • Bank wire, Credit card, PayPal

Trading Platform Logon

Tutorials

  • Online – text based

Support

  • Email, Live Chat, Telephone (Intl.)

Operating system requirements

  • Online / Windows

Demo Account

  • Yes

Sign Up at HY Markets here