Eightcap vs Hugosway in 2023: Fees, Features, Pros-Cons, and More!

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Eightcap vs Hugosway: In a Nutshell

Eightcap

EightCap was registered in Melbourne, Australia in 2009. The broker allows the trading of over 800 forex and CFDs on its platforms which include MT4, MT4 and TradingView. Traders are provided with tools like free VPS, Crypto crusher, Capitalise.ai, FlashTrader, Trade idea, outlook, etc.

Risk warning: 77.78% of retail traders lose money when trading with EightCap.

Eightcap Overview
  • Founded In: 2009
  • Minimum Deposit: $100
  • Maximum Leverage: 1:1000
  • Regulations: ASIC,FCA, CySEC, SCB
  • Trading platform: MT4, MT5, TradingView, Webtrader
  • Account Types: Standard, Raw, Tradingview
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BPAY, Neteller, PayPal, Poli, Skrill, UnionPay, XPAY
  • 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

Hugosway Overview
  • Founded In: 2017
  • Minimum Deposit: $10
  • Maximum Leverage: 1:500
  • Regulations: None 
  • Trading platform: MT4 
  • Account Types: Live account, Demo Account
  • Payment Options: BTC, Credit/debit cards, Bank transfer,
  • US Traders: Accepted   
89% CFD Trader Lose Money

Eightcap vs Hugosway : Pros and Cons

Eightcap Pros and Cons

Pros
  • Regulated by ASIC, FCA, VFSA 
  • The Maximum Leverage is as high as 1:500
  • Offers passive investment programme(MAM, PAMM accounts) 
  • No Deposit/Withdrawal Fees
  • Easy To Open An Account
  • Scalping and EA Trading are allowed 
  • 100+ Crypto CFDs available
Cons
  • Minimum deposit is $100
  • No Investor Protection for non-EU Clients
  • The Broker is not regulated by FCA UK 
  • Conditions and trading costs vary according to the entity
  • Hedging is not allowed with the ASIC entity
  • No joint accounts, copy trading, referral program, or other options for passive income

Hugosway Pros & Cons

Pros
  • Low Minimum Deposit - Starting from $10
  • Allow Crypto CFD Trading 
  • Demo Accounts are Available 
  • Higher Leverage for US, and EU clients. 
  • Allow Scalping, EA Trading and News Trading 
  • Hugosway Accepts Crypto Deposits
Cons
  • Offshore Broker with very limited information
  • Limited Deposit and Withdrawal Option 
  • Spread sometimes  widens during market volatility
  • Unregulated Forex broker  
  • No Managed Account Options

Eightcap vs Hugosway: Side-by-Side Comparison

Eightcap
Hugosway
Product
Founded In
Founded In
2009
2018
Founded By
Founded By
Alex Howard
Beachmont Business Centre
Headquarters
Headquarters
Melbourne, Australia
St. Vincent and the Grenadines
Regulations
Regulations
ASIC,FCA, CySEC, SCB
None
Min Deposit
Min Deposit
$100
$10
Max Leverage
Max Leverage
500:1
1:500
Tradable Assets
Tradable Assets
Forex,Commodities,Indices,Shares,Crypto
Forex, cryptos, commodities, indices and stocks CFDs
Fees
Fees
Spread from 1 pips or $3.5 per standard lot traded
Spread from
Platforms and Tools
Platforms and Tools
MT4, MT5, TradingView, Webtrade
MT4
US Traders
US Traders
Not Allowed
Not Allowed

EightcapVs Hugosway: Our Scores and Ratings

We rated both brokers, Eightcap 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.

Eightcap :

9
Total Score
Regulation and Security (40%)9.6
Fees and Commissions (20%)9
Trading (15%)8.5
Trading tools (10%)8.6
Customer Support (10%)9
Trading Education (5%)7.2

Hugosway

2.5
Eightcap Scores
Regulation and Security (40%)1.5
Fees and Commissions (20%)4.5
Trading (15%)5.2
Trading tools (10%)1
Customer Support (10%)5
Trading Education (5%)1

Final Verdict :

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

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