Hugosway and Plexytrade 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 Plexytrade 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 Plexytrade: 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
Plexytrade
Founded in 2024, Plexytrade is an online forex and CFD broker. It is an unregulated forex broker that offers 100+ instruments ranging from all the major Cryptos, Forex, Commodities, and Global Indices to traders worldwide. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of Plexytrade is as high as 1:2000.
Plexytrade at a Glance
- Founded Year: 2024
- Headquarters: Rodney Bay Gros Islet, Saint Lucia
- Minimum Deposit: $50
- Maximum Leverage: 1:2000
- Regulations: None (Unregulated Offshore Broker)
- Trading platform: MT4, MT5
- Account Types: Micro, Silver, Gold Raw, Platinum VIP
- Trading Style: Scalping, Hedging, Swing Trading, Day Trading, Automated Trading
- Payment Options: Cryptocurrencies, Bitcoin
- US Traders: Accepted
Hugosway vs Plexytrade: Side By Side Comparison
Hugosway vs Plexytrade: 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
Plexytrade Pros & Cons
- The maximum leverage is as high as 1:2000 ( Leverage may vary based on account types and tradable asset types)
- Allow Crypto CFD Trading
- The maximum lot size is as high as 1000 lot
- Raw spread starting from as low as 0.0 pips
- Offers MT4, and MT5 trading platforms (Desktop, Web, mobile version)
- Demo Accounts are Available
- Higher Leverage for US, and EU clients.
- Allow Scalping, EA Trading, and News Trading
- Plexytrade Accepts Crypto Deposits
- Unregulated offshore forex broker
- Only Crypto Deposit and Withdrawal Option
- A limited number of tradable assets
Final Thoughts:
Hugosway and PlexyTrade 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, PlexyTrade supports both MT4, MT5 and Tradelocker trading platforms. the minimum deposit for Hugosway is $10, whereas the minimum deposit for PlexyTrade is $50. Additionally, the maximum leverage for Hugosway is 500:1, while the maximum leverage for PlexyTrade is 2000:1.
Hugosway does not offer any passive investment programs like MAM or PAMM, while PlexyTrade does provide such programs. Our score for Hugosway is 2.5, and for Plexytrade, it is 4.5 If you are looking for a high-leverage offshore broker with Metatrader (MT4/MT5) trading platform you may choose PlexyTrade. However, if you prefer not to use MT4/MT5, you may choose Hugosway.
