Forex traders always look for a better broker with excellent services to suit their strategies and trading preferences. Numerous forex and CFD brokers provide their services to clients worldwide. Some traders even settle for trading with offshore forex brokers for a restriction-free trading experience. With over a thousand online forex brokers to choose from, making the right choice is becoming a difficult task.
In this article, we will compare and review services offered by Hugosway and KOT4X. Usually, they offer similar services. However, we will compare regulations, fees, leverage, minimum deposit, and more so that a trader will be able to make a choice based on the services he finds most appealing
Hugosway vs KOT4X: In a Nutshell
Hugosway
Founded in 2017, Hugosway is a forex and CFD broker that offers online trading services. It is an unregulated offshore broker that operates globally. The broker provides ECN pricing with no spread mark-ups and charges only commissions on trades.
Hugosway gives traders access to over 200 instruments, including forex, CFDs, crypto CFDs, futures, indices, metals, and stocks. It allows various trading styles, including scalping, hedging, copy trading, and news trading. The broker offers a maximum leverage of 1:500.
Hugosway requires a minimum deposit of $10 or the equivalent to start trading. It supports BTC, Instacoins, and wire transfers via Instacoins for deposits and withdrawals. The broker provides 24/7 customer support through multiple channels.
However, Hugosway does not offer the MetaTrader (MT4/MT5) platform. It uses the Pro4 trading platform instead.
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
KOT4X
Established in 2019, KOT4X is a forex and CFD broker that offers online trading services globally. It is an unregulated offshore broker that provides access to over 250 trading instruments, including forex, stocks, cryptocurrencies, and indices. The broker offers leverage of up to 1:500.
KOT4X is known for its fast execution, tight spreads, and low commissions, which may appeal to scalpers and high-frequency traders. The broker supports multiple cryptocurrency deposits with no extra fees. Traders can open multiple positions, hedge trades, and use strategies such as news trading and expert advisors. However, KOT4X does not offer the MetaTrader platform (MT4/MT5). Instead, it uses TradeLocker as its trading platform.To learn more, you can read our review on KOT4X, where we cover its features, pros, cons, ratings, and more.
KOT4X Overview
- Founded In: 2019
- Trading Instruments: Around 200 trading instruments, including 55 currencies, 104 stocks, 31 cryptocurrencies, and 8 indices
- Minimum Deposit: $10 for BTC deposit, $25 to $50 for Debit/Credit card via Instacoins.
- Maximum Leverage: 1:500
- Regulations: None
- Min Lot size: 0.01
- Max Lot Size: 500 lot per ticket
- Trading platform: TradeLocker
- Trading Styles: Allows all trading Styles including scalping, News Trading, CFD trading, EA trading,
- Account Types: Standard Pairs, Pro Pairs, Var Pairs, Mini Pairs
- Payment Options: Bitcoin, Instacoins.
- US Traders: Accepted
Hugosway vs KOT4X: Side By Side Comparison
Hugosway vs KOT4: Features
Hugosway:
- Trading Instruments: 55 Currencies, 73 Stocks, 38 Cryptos
- Trading Platforms: PRO4 Trading Platform
- Minimum Deposit: $10
- Maximum Leverage: 1:500
- Trading Fees: Only Spread is charged (No Commission). Variable spreads from 0.01 pips. A rollover commission is applied on open positions overnight.
- Minimum Trade Size: 0.01 lot.
- Maximum Trade Size (Lot restriction per Ticket): 1000 Lots
- Funding Currencies: Wire Transfer, Credit Card, Bitcoin
- Trading Style Allowed: All including Scalping, hedging, News trading, and EA Trading.
- PAMM/ MAM: Available
- Stop Out Level (retail): 70%
- Margin Call Level: 100%
- Negative balance Protection: Yes
- Investor Protection: No investor protection is Available.
- Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes. The demo account has 30 days of validity.
- KYC Verification: Required
Kot4x
- Trading Instruments: Forex, Metals, Oil, Indices, Commodities, Shares
- Trading Platforms: Mt4, Web Trading, Mobile
- Minimum Deposit: $5
- Maximum Leverage: 1:1000
- Trading Fees: Spreads starting from 1 pips. LMFX charges a fixed commission for every lot traded. A lot is equal to 100,000 units of currency. If you have a zero account, the commission is $4 per lot which means $8 for a round lot.
- Minimum Trade Size: 0.01 lot.
- Maximum Trade Size (Lot restriction per Ticket): 50 Lots
- Funding Currencies: USD/EUR
- Trading Style Allowed: Almost all trading styles including Scalping, hedging, copy trading, and EA Trading.
- Stop Out Level (retail): 20%
- Margin Call Level: 50%
- Negative balance Protection: Yes
- Investor Protection: No
- Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes.
- KYC Verification: Required
Hugosway vs KOT4X: Pros and Cons
Hugosway Pros & Cons
- 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
- Offshore Broker with very limited information
- Limited Deposit and Withdrawal Option
- Spread sometimes widens during market volatility
- Unregulated Forex broker
- No Managed Account Options
KOT4X Pros & Cons
- Got ASIC regulation in 2023
- Allow forex, CFD, and Crypto CFD trading
- Offers Forex and Crypto CFD Trading Facilities
- Cryptocurrency Deposit and Withdrawal option
- Offer Tradelocker Trading Platform (the next-generation trading platform powered by TradingView)
- Allow Scalping, EA Trading, News Trading etc
- Offer Funded Trader Programme with a profit split of 80:20
- Lower Minimum Deposit ($10 for Crypto Deposit, $25 to $50 For Debit, Credit Card
- Offer Traderlocker Trading Platform
- No MetaTrader (MT4, MT5) Trading Platform Offered
- Limited Deposit and Withdrawal Option
- Currently, Only Crypto Deposit and Withdrawals are available
- No Managed Account Facilities ( PAMM, MAM Accounts)
- Inactivity Fees Applied to your account
- Inactivity fee
- Islamic accounts are not available
- No analytics, training, or tools
Final Thoughts:
Hugosway and KOT4X are global brokers that offer forex and CFD trading services over the Internet. Hugosway is an unregulated offshore forex broker, on the other hand, KOT4X has recently taken ASIC Regulation.
Both brokers offer crypto CFD, similar deposit and withdrawal methods, the same leverage (500:1), same minimum deposit ($10).
So if you prefer a recently regulated forex broker or want to use a funded trading programme, you may go with KOT4X. However, if you prefer flexible trading without considering regulation, you go with Hugosway. Hugosway offers a tight spread and faster execution.
