Forex traders always look for trading with brokers that suit their trading needs and preferences. Dukascopy and Hugosway are online forex brokers that offer their trading services to traders and investors. Dukascopy is a highly regulated and trusted forex broker. It is regulated in two tier-1 jurisdictions. On the other hand, Hugosway is an offshore forex broker which is not regulated by any regulatory bodies.
In this article, we will review and compare the brokerage services offered by Dukascopy and Hugosway. We will explore options such as regulations, reputations, fees, features, leverage, and more. Additionally, we will analyze and rate the brokers based on macro and micro categories and options. By reviewing these aspects, you will get a clear idea of which broker suits you best for your trading journey.
Dukascopy vs Hugosway: In a Nutshell
Dukascopy
Established in 2004, Dukascopy is a Swiss-based online forex broker with headquarters in Geneva, Switzerland, and international offices in Japan and Latvia. The broker has held a Swiss bank license since 2010. Dukascopy offers MT4, MT5, and its own proprietary trading platform named JForex. Regulated by FINMA (Switzerland) and JFSA (Japan), the broker is renowned for its advanced trading technology and transparent pricing model. Dukascopy supports various trading strategies like scalping, hedging, and news trading, and also provides PAMM accounts. Moreover, it offers a range of educational resources to assist traders in enhancing their skills.
Dukascopy Overview
- Founded In: 2004
- Minimum Deposit: $100
- Maximum Leverage: 200:1
- Regulations: FINMA
- Trading platform: MT4/MT5, JForex4
- Account Types:
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Bank Gurantees, Credit/Debit Card, Cryptocurrency, Maestro, Neteller, Skrill
- US Traders: Not Accept
Hugosway
Founded in 2017, Hugosway has been attracting traders from all over the world with its focus on ECN pricing and trading. Only commissions are charged on trades and no spread mark-ups. Low minimum deposit, high leverage, and 24/7 support are some of the strengths of Hugosway.
Hugosway Overview
- Founded In: 2017
- Trading Instruments: 200+ trading Instruments including Forex, CFDs, Crypto CFDs, Futures, Indices, Metals, Stocks
- Minimum Deposit: $10 for Bitcoin, $100 for Instacoins
- Maximum Leverage: 1:500
- Regulations: None
- Trading platform: Pro4
- Account Types: Live account, Demo Account
- Payment Options: BTC, Instacoins, Wire Transfer via Instacoins
- Trading Styles: Allows all trading styles including scalping, Copy Trading, EA Trading
- US Traders: Accepted
Dukascopy vs : Hugosway Features
Dukascopy
- Trading Instruments: 1200+ trading instruments including FOREX, ENERGY, CRYPTO, METALS, INDEXES, BONDS, STOCKS
- Maximum Leverage: The maximum leverage of Dukascopy is 200:1. However, leverage may vary based on equity, assets, jurisdiction, and account type
- Minimum Deposit: The minimum deposit of Dukascopy is $100
- Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread starts from 0.1 pips on EUR/USD. The standard fee is $0.5 per 1 MT4 lot ($5 per $1 million).
- Account Types: Two ( Live account, Demo Account)
- PAMM: Available
- Scalping: Allowed
- News Trading: Allowed
- EA/ Robot Trading: Allowed
Hugosway
- Trading Instruments: 1200+ trading instruments including forex, CFDs in stocks, indices, commodities, ETFs and Cryptos
- Maximum leverage: 500:1
- Minimum Deposit: $10
- Account Types: 1 major Account (Standard)Â
- Trading Fees: Spread starting from 0.1 pipsÂ
- PAMM/ MAM:Â Not Available
- Scalping: AllowedÂ
- News Trading: Allowed
- EA/ Robot Trading: Allowed
Dukascopy vs Hugosway: Side-by-Side Comparison
Dukascopy Vs Hugosway: Our Scores and Ratings
We rated both brokers, Dukascopy and Hugosway, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.
Dukascopy:
Hugosway
Final Verdict :
Both Dukascopy and Hugosway offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. Dukascopy is a highly regulated and trusted forex broker. It is regulated by top-tier regulatory authorities, including FINMA and JFSA. On the other hand, Hugosway is an unregulated offshore forex broker. Dukascopy provides Multiple trading platforms includingMT4, MT5, FOREX,Apple iOS,Web,Android. On the Contrary, Hugosway does not offer MT4/MT5. It uses only TradeLocker as its trading platform.
As Dukascopy is not licensed in the USA, it cannot accept US clients. Being an unregulated offshore forex broker, Hugosway can onboard clients from anywhere in the world, including the USA. Therefore, non-US traders may opt for Dukascopy, while US traders looking for offshore forex brokers may consider Hugosway. Trading with offshore forex brokers is risky and not recommended.
