Hugosway and Longhornfx are two popular offshore forex and CFD brokers that offer online trading services to traders and investors worldwide. Both brokers accept U.S. clients and provide trading facilities with no FIFO rule, high leverage, low fees, and tight spreads without restrictions. Although these brokers offer similar services, each has its strengths and weaknesses.
In this article, we will compare and review Hugosway and Longhornfx by exploring their trading conditions, instruments, minimum deposits, fees, features, and customer support. This comparison and research will help you determine which broker is better suited to your trading style and preferences.
Hugosway vs LonghornFX: 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. To learn more about Hugosway, you can read our review about it.
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
LonghornFX
Founded in 2020, LonghornFX is an online forex and CFD broker. It is an offshore forex broker that offers forex (major pairs, crosses, exotic pairs), cryptocurrencies, indices, metals, futures, commodities, and stock trading services to traders worldwide. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of LonghornFX is as high as 1:500. To learn more about LonghornFX, you can read our in-depth review of the broker.
LonghornFX at a Glance
- Founded Year: 2020
- Headquarters: Port-Louis, Mauritius
- Minimum Deposit: $10
- Maximum Leverage: 1:500
- Regulations: None (Unregulated Offshore Broker)
- Trading platform: MT4
- Account Types:
- Trading Style: Scalping, Hedging, Swing Trading, Day Trading, Automated Trading
- Payment Options: Bitcoin and Bitcoin via wire transfer or credit/debit card
- US Traders: Accepted
Hugosway vs LonghornFX: Side By Side Comparison
Hugosway vs LonghornFX: 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
LonghornFX
- Trading Instruments: 183+ instruments including Forex majors, crosses and exotics, Stocks, Cryptocurrencies, Indices, Metals, Energy
- Trading Platforms: Mt4
- Minimum Deposit: $10
- Maximum Leverage: Forex – 1:500 Metals – 1:500 Indices – 1:200 Energy – 1:100 Crypto – 1:100 Stocks – 1:20
- Trading Fees: Only Spread is charged (No Commission). Variable spreads from 1 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: Bitcoin and Bitcoin via wire transfer or credit/debit card
- 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
Hugosway vs LonghornFX: 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
LonghornFX Pros & Cons
- Low Minimum Deposit – You may deposit as low as $10
- Allow Crypto CFD Trading
- Offers leverage as high as 1:500
- Offers MT4 Trading Platform
- Demo Accounts are Available
- Higher Leverage for US, and EU clients.
- Allow Scalping, EA Trading, and News Trading
- LonghornFX Accepts Crypto Deposits
- Unregulated Offshore Forex Broker
- Only Crypto Deposit and Withdrawal Option
- No Managed Account Options
Final Thoughts:
Hugosway and LongHornFX are unregulated offshore forex and CFD brokers in the industry. They offer similar trading services; they both allow scalping, hedging, EA trading, and Copy trading EA. The minimum order size for both of them is 0.01
However, there are a few areas where you may find some differences. For example, Hugosway does not support MetaTrader (MT4/MT5) trading platform; instead, it uses the PRO4 trading platform. On the other hand, LongHornFX supports MT4 trading platforms. the minimum deposit for Hugosway is $10, whereas the minimum deposit for LongHornFX is $10. Additionally, the maximum leverage for Hugosway is 500:1, while the maximum leverage for LongHornFX is 500:1.
Our score for Hugosway is 2.5, and for LongHornFX, it is 4.4. If you are looking for a high-leverage offshore broker with MT4 trading platform you may choose LongHornFX. However, if you prefer not to use MT4/MT5, you may choose Hugosway.
Disclaimer: Trading forex and CFDs comes with the risk of losing your trading capital. Moreover, trading with offshore forex brokers puts your funds at higher risks
