Withdrawals are not currently available to PRC cards***
N/A
US$20
Within 1 day
$0
US$50
7 to 10 working days
$0 **
US$20
Within 1 day
$0
US$50
7 to 10 working days
$0 **
US$20
Within 1 day
$0
US$50
7 to 10 working days
$0 **
* For Wire Transfer withdrawals of less than US$300 a US$30 handling fee will be charged.
** If the Credit Card, Pay Pal, MoneyBookers, WebMoney or other account associated with your account has expired and a withdrawal is unable to be processed, the withdrawal will be issued by Wire Transfer and incur a charge of US$30 per transaction.
*** Currently we cannot process withdrawals to PRC cards. You may deposit using PRC cards, but any withdrawals must be made via one of the other available payment methods.
What methods of payment are there for depositing and withdrawing funds on HY Markets?
HY Markets accepts the following payment methods:
Credit/Debit cards (VISA and Mastercard)
PayPal
Moneybookers
WebMoney
Wire Transfer
Other local payment methods
Which credit or debit cards do you accept?
We accept payments through Credit cards and Debit Cards (Visa and MasterCard). We also accept payments through PayPal, MoneyBookers, WebMoney, bank Wire Transfers and PRC cards.
Can I withdraw all profit back to my credit or debit card?
HY Markets will process the sum of your deposited funds back to the original source you used to fund your account. In case we cannot refund the excess profits back to the original source you used to fund your account, we will transfer the funds to your identified bank account. Please note that for PRC cards, where we cannot currently process withdrawals, any requested funds will be returned to the secondary account which you identify.
Why do withdrawals take up to 10 days when my deposits are instantaneous?
To ensure the security of your funds, and to be sure that all funds are returned safely, there are many security checks that need to be completed before processing a withdrawal. Although HY Markets processes your withdrawal request within 1 business day, your bank can take 4-8 working days to credit the funds on your card statement. This is a standard practice for most banks.
Can I deregister my card?
If you do not wish to use a card, you do not have to do so. To guard against credit card fraud HY Markets will require to keeping details of all cards used. Our professionals handle all details with the utmost confidentiality.
I hold 2 Accounts with HY Markets can I transfer money from one account to the other?
To make a transaction of this nature, please contact your account manager or use Live Person or email your request to accounts@hymarkets.com and the transaction will be made for you within 24 hours.
Can I register more than one card to my account?
You are allowed to register as many cards as you like for your HY Markets account. However, for each and every card we require you to provide (1) a photocopy of the card (both sides) and (2) all card details to your introducing brokers. We require certain information for security purposes, which is increased when additional cards are added to your account.
My transaction has been declined. Why?
There could be several reasons why your payment or transaction failed.
Firstly you need to ensure that all information has been correctly entered into the system.
Your card may have expired
There are no funds remaining on the card
Your card has come up on a security check as being lost or stolen
We do not accept your card type (please try another payment method)
My transaction was declined what is my next step?
If your transaction has been declined, please contact your Account Manager immediately or access our Customer Service Team via Live Person chat and they will assist you in funding your account. It is important to remember, please do not attempt to fund your account multiple times if your card has failed, as this will trigger security alerts that could block your card.
Can I cancel a withdrawal?
You have the ability to cancel your withdrawal within 24 hours of your withdrawal request. The amount will be credited back into your trading account within 48 hours of cancellation. To request a cancellation of your withdrawal please contact your introducing brokers or use the Live Person chat service.
Will my details be safe?
HY Markets is a secure site adopting a 128-bit encryption key for all client details and transactions. We have partnered with Verisign for added client security. All client transactions and details are handled with the utmost confidentiality.
Can I use a friend's card to fund my account? Can I withdraw onto another person's card?
Both of the above are not acceptable with HY Markets. We do not accept any third party transfers for both deposits and withdrawals. All third party payments will be rejected and not processed.
What happens if the card I use has been lost or cancelled during the process of making a deposit or withdrawal?
All credit card deposits are instantaneous and as such your account will be funded regardless of the fact you lost the card or cancelled your card after the deposit. However if your card has been lost or cancelled during a withdrawal process you will need to contact your bank to resolve this. HY Markets will still process the withdrawal (unless it has been cancelled within 24 hours) to your bank account.
What do I do if I have duplicated a payment or have made a payment by mistake?
If you have accidentally duplicated a payment please contact your introducing brokers and request for a withdrawal. Please be aware that this will be processed as a standard withdrawal and will take up to 10 days to be processed. If you have accidentally made a payment to HY Markets, you will need to make a withdrawal.
Further advice from HY Markets regarding credit card transactions:
On receipt of all transactions an invoice will be sent to all clients. We highly recommend that any invoice or transactional data that you receive should be printed out and made accessible. This will be helpful for any future correspondence with HY Markets about any of your transactions.
All card transactions will be debited immediately and will appear on your card statement with the following format: HY Merchant Services
For more information please visit our Full FAQ section. Alternatively, please contact your account manager or customer service.
HY Markets trades solely in CFD contracts and rolling spot contracts as such there are no tangible goods and as such no refunds are available for any product. For our cancellation policy please see the above FAQ.
Risk Warning : Forex and CFDs are leveraged products and involves a high level of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risk involved. You should ensure you understand all of the risks and seek independent advice if necessary.
