Hugosway and NextTrade 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 NextTrade 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 NextTrade: In a Nutshell
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
- 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
NextTrade
Founded in 2020, NextTrade is an online forex and CFD broker. It is an offshore forex broker that offers 138 forex pairs, stocks, indices, commodities, and cryptocurrency services to traders worldwide. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of NextTrade is as high as 1:500.
NextTrade at a Glance
- Founded Year: 2020
- Headquarters: Stamford Hill, Durban Kwa-Zulu Natal 4001.
- Minimum Deposit: $10
- Maximum Leverage: 1:500
- Regulations: None (Unregulated Offshore Broker)
- Trading platform: TradeLocker,MT5
- Account Types: Standard ECN
- Trading Style: Scalping, Hedging, Swing Trading, Day Trading, Automated Trading
- Payment Options: Bitcoin (BTC),Ethereum (ETH),Litecoin (LTC),Ripple (XRP),Dogecoin (DOGE), Tether (USDT) (TRC-20),USD Coin (USDC) (BEP-20/TRC-20),Credit Card or Bank Transfer
- US Traders: Accepted
Hugosway vs NextTrade: Side By Side Comparison
Hugosway vs NextTrade: 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
NextTrade Pros & Cons
- Low Minimum Deposit – Starting from $10
- Allow Crypto CFD Trading
- Offers leverage as high as 1:500
- The maximum lot size is as high as 1000 lot
- Spread starting from 0.4 pips
- Offers MT5, Tradelocker trading platforms
- Demo Accounts are Available
- Higher Leverage for US, and EU clients.
- Allow Scalping, EA Trading, and News Trading
- Nexttrade Accepts Crypto Deposits
Cons:
- Offshore Forex Broker
- Limited deposit and withdrawal methods
- Only MT5, Tradelocker is available ( No MT4 or other trading platforms)
Final Thoughts:
Hugosway and NextTrade 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, NextTrade supports MT5 and TradeLocker trading platforms. The minimum deposit for Hugosway is $10, whereas the minimum deposit for NextTrade is $10. Additionally, the maximum leverage for Hugosway is 500:1, while the maximum leverage for NextTrade is 500:1.
Our score for Hugosway is 2.5, and for NextTrade, it is 4.5. If you are looking for a high-leverage offshore broker with MT5 and TradeLocker trading platform you may choose NextTrade. However, if you prefer the PRO4 trading platform, 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
