FBS vs Hugosway in 2024

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Forex traders always look for trading with brokers that suit their trading needs and preferences. FBS and Hugosway are online forex brokers that offer their trading services to traders and investors. FBS is a highly regulated and trusted forex broker. It is regulated in two tier-1 jurisdictions and one tier-4 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 FBS 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.

FBS vs Hugosway: In a Nutshell

FBS

Established in 2009, FBS is one of the leading forex and CFD brokers, offering online trading services worldwide. It is a global brand with headquarters in Belize and regional offices in Cyprus and the Marshall Islands. FBS provides opportunities for trading forex, stocks, metals, energies, and indices. It has about 17 million clients and over 60 prestigious awards for excellent services. FBS.eu offers low spreads and split-second executions without requotes. FBS is one of the highest leverage forex brokers, with leverage up to 1:3000 for its global clients. 

Risk warning: 73.21% of retail CFD accounts lose money.

FBS Overview

FBS Overview
  • Founded In: 2009
  • Founder:  Satthakarn Chuenkomol
  • Headquarters: Belize City, Belize
  • Minimum Deposit: $5
  • Maximum Leverage: 1:3000
  • Regulations: ASIC, FSC, CySEC  
  • Trading platform: MT4, MT5, Webtrader
  • Account Types: Standard, Cent, Pro
  • Payment Options: VISA, MasterCard, Local Exchangers, Neteller, PerfectMoney, Skrill, SticPay
  • US Traders: Not Accepted

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
  • 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   
89% CFD Trader Lose Money

FBS vs : Hugosway Features

FBS:

  • Trading Instruments: Forex, Stock, Indices, Crypto, Metals, Energies, Forex Exotic.
  • Maximum leverage: 1:3000
  • Minimum Deposit: $5
  • Account Types: Three ( Standard, Cent, Pro) 
  • Trading Fees: Spread starting from 1 pip for Standard Account and Cent Account
  • PAMM/ MAM: Not available 
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed

FBS vs Hugosway : Pros and Cons

FBS Pros and Cons

Pros
  • Regulated by the CySEC, ASIC, FSCA South Africa, and FSC Belize.
  • The Maximum Leverage is as high as 1:3000
  • The Minimum deposit is $5 
  • Trading is on the MT4, MT5, and FBS trader platforms.
  • There is an account type to suit newbies, experienced, and pro traders.
  • Low spreads, high leverage, and fast order executions
  • Easy and fast account opening
  • Forex Guidebook, Forex Intensive, trading ideas, webinars, and other training resources are provided.
Cons
  • Tradable assets are not much, especially when compared to other top brokers.
  • Daily Market news and analysis on FBS.eu are not regularly updated.
  • No premium trading tools to assist traders.
  • No investor protection for non-EU Clients 
  • Managed Accounts & Social Trading is unavailable 
  • Few Account Base Currencies

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

FBS vs Hugosway : Side-by-Side Comparison

FBS
Hugosway
Product
Product
FBS
Hugosway
Founded In
Founded In
2009
2018
Founded By
Founded By
Satthakarn Chuenkomol
Beachmont Business Centre
Headquarters
Headquarters
Belize city, Belize
St. Vincent and the Grenadines
Regulations
Regulations
FSC, Cysec, ASIC
None
Min Deposit
Min Deposit
5$ ($5 for global Clients, $10 for EU Clients)
$10
Max Leverage
Max Leverage
1:3000
1:500
Tradable Assets
Tradable Assets
Forex, stocks, indices, metals, and energies.
Forex, cryptos, commodities, indices and stocks CFDs
Fees
Fees
Spread from 0.7 pips
Spread from
Platforms and Tools
Platforms and Tools
MT4, MT5, Webtrader, Meta Tader Multiterminal, VPS, Economic Calendar
MT4
US Traders
US Traders
Not Allowed
Not Allowed

FBS Vs Hugosway : Our Scores and Ratings

We rated both brokers, FBS 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.

FBS :

8.8
Total Score
Regulation and Security (40%)9.6
Fees and Commissions (20%)9.4
Trading (15%)8
Trading tools (10%)5
Customer Support (10%)9.5
Trading Education (5%)9.5

Hugosway

2.5
FBS 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 :

Both FBS and Hugosway offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. FBS is a highly regulated and trusted forex broker. It is regulated by top-tier regulatory authorities, including ASIC, FSC, CySEC. On the other hand, Hugosway is an unregulated offshore forex broker. FBS provides Multiple trading platforms including MT4, MT5. On the Contrary, Hugosway does not offer MT4/MT5. It uses only TradeLocker as its trading platform. 

As FBS 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 FBS, while US traders looking for offshore forex brokers may consider Hugosway. Trading with offshore forex brokers is risky and not recommended.

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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