FP Markets vs Hugosway in 2024

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FP Markets vs Hugosway: In a Nutshell

FP Markets

FP Markets was established in 2005 in Australia but has become a global brand with multiple regulations across the world. Traders have access to trade more than 10,000 forex and CFDs on its 4 platforms; MT4, MT5, IRESS and cTrader. It also provides access to tools like Autochartist, Trading Central, free VPS, social trading, etc.

Risk warning: 73.85% of retail traders lose money

FP Markets Overview
  • Founded In: 2005
  • Minimum Deposit: 100 AUD or equivalent.
  • Maximum Leverage: 500:1
  • Regulations: ASIC, CySEC, FSCA, FSA
  • Trading platform: MT4, MT5 and Ctrader 
  • Account Types: Islamic , Account Funding, Fund withdraw
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BPAY, Dragonpay, FasaPay, Klarna, Neteller, Ngan Luong, PayPal, PayTrust88, PerfectMoney, Poli, Rapid Transfer, Skrill, SticPay, Transfer from Existing Broker, UnionPay
  • 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

FP Markets vs Hugosway : Pros and Cons

FP Markets Pros and Cons

Pros
  • Regulated by ASIC, CySEC, FSCA, SVGFSA, AFS, FSP 
  • The Maximum leverage is 1:500
  • Offers popular trading platforms like MT4, MT5, cTrader, WebTrader, IRESS
  • Hedging, Scalping, EA/Robot, and Copy trading are allowed 
  • Easy, Fast and Digital account opening
  • Offers passive investment programs like MAM, PAMM Accounts
  • Faster order execution (40ms) 
  • FP Markets offers consistently tighter spreads from 0.0 pips
Cons
  • No FCA regulation. 
  • The Minimum deposit is $100, which might be high for a beginner
  • High Stock CFD fees 
  • US traders are not accepted 
  • Only two types of accounts ( Standard, Raw) 

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

FP Markets vs Hugosway: Side-by-Side Comparison

FP Markets
Hugosway
Product
Founded In
Founded In
2005
2018
Founded By
Founded By
Matthew Murphie
Beachmont Business Centre
Headquarters
Headquarters
Sydney , Australia
St. Vincent and the Grenadines
Regulations
Regulations
ASIC, CySEC, FSCA, FSA
None
Min Deposit
Min Deposit
$ 100 AUD or equivalent
$10
Max Leverage
Max Leverage
500:1
1:500
Tradable Assets
Tradable Assets
Forex,Shares,Metals,Commodities,Indice,Digital Currencies,Bonds,ETFs
Forex, cryptos, commodities, indices and stocks CFDs
Fees
Fees
Spread from 1 pips (Standard)
Spread from
Platforms and Tools
Platforms and Tools
MT4, MT5, cTrader, WebTrader, TradingView
MT4
US Traders
US Traders
Not Allowed
Not Allowed

FP Markets Vs Hugosway: Our Scores and Ratings

We rated both brokers, FP Markets 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.

FP Markets :

9.2
Total Score
Regulation and Security (40%)9.2
Fees and Commissions (20%)9
Trading (15%)9
Trading tools (10%)9.5
Customer Support (10%)9.5
Trading Education (5%)9.6

Hugosway

2.5
FP Markets 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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