In April, LeapRate reported on HY Markets, trading name of Henyep Capital Markets UK Ltd., a division of the Henyep Group, headquartered in the UK launching a binary options brokerage branded as HY Binary Options. Initially, it looked like a great sign that a quality brand and FCA regulated spot FX and CFD brokerage first was introducing a binary brokerage under the watchful eye of the FCA.
Launched with popular SpotOption software, everything was running and launched back in April including partner programs and account registration. Just 4 months later… there looks to be a problem with how HY Markets is planning to operate a binary option product because the HY Binary Options main page is now showing a ‘coming soon’ page. Back in July, the message was a vague “We are currently revamping our website to enhance our user experience. Thank you for your patience.”
HY Binary Options looks to be on pause indefinitely
Could there be a management decision to drop binary options altogether? Maybe the company has decided to build their own software or switch to another platform provider. However, questions remain on if and when the planned introduction of binary options to HY Markets will come to fruition or not. HY Markets was unavailable for comment right away, but LeapRate will continue to follow any developments.