JP Markets vs Hugosway | Our In-Depth Analysis in 2024

JP Markets and Hugosway are online forex brokers that offer their trading services to traders and investors. JP Markets is a regulated and trusted forex broker. It is regulated by FSCA, FSB. On the other hand, Hugosway is an offshore forex broker which is not regulated by any regulatory bodies. Both the brokers have their own strengths and weaknesses.  

In this article, we will review and compare the brokerage services offered by JP Markets and Hugosway. We will explore options such as regulations, reputations, fees, features, leverage, and more. Additionally, we will analyze and rate the brokers based on macro and micro categories and options. By reviewing these aspects, you will get a clear idea of which broker suits you best for your trading journey.

JP Markets vs Hugosway: In a Nutshell

JP Markets

Founded in 2006, JP Markets is a South Africa-based forex and CFD broker that offers online trading services. The platform provides access to the MetaTrader 4 and Mobile forex trading platforms. JP Markets.co.za offers over 25 forex currency pairs, CFDs, stocks, gold, silver, oil, bitcoin, and other cryptocurrencies for investment and trading options. However,  the broker lacks regulation from other top-tier regulatory authorities like ASIC, CySEC, FCA, etc.

JP Markets Overview

• Founded In: 2016
• Minimum Deposit: $1
• Maximum Leverage: 500:1
• Regulations: FSCA
• Trading platform: MT5
• Account Types: Standard, Premium, VIP, Islamic
• Payment Options: VISA, MasterCard, iPay, Local Bank Transfers, M-Pesa, PayFast, Skrill, SnapScan
• US Traders: Not Accept

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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   

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JP Markets vs: Hugosway Features

JP Markets

• Trading Instruments:  A variety of trading instruments including, forex, 25 forex currency pairs, CFDs, stocks, gold, silver, oil, bitcoin, and other cryptocurrencies
• Maximum Leverage: The maximum leverage of JP Markets is 3000:1. However, leverage may vary based on account type, tradable assets, or jurisdiction. 
• Minimum Deposit: The minimum deposit of JP Markets is R100
• Account Types: Five Account Types ( Premium, VIP, Islamic, Zero Stop Out, ZPM Bonus 300) 
• Trading Fees: spreads starting from 0.5 pips for VIP Account, 1 Pip for Premium Account, 1.5 pips for Islamic Account, 3 pips for Zero Stop Out Account, and 2 Pips for JPM Bonus Account. 
• PAMM/ MAM:  Not available
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed

Hugosway

• Trading Instruments: 1200+ trading instruments including forex, CFDs in stocks, indices, commodities, ETFs and Cryptos
• Maximum leverage: 500:1
• Minimum Deposit: $10
• Account Types: 1 major Account (Standard) 
• Trading Fees: Spread starting from 0.1 pips 
• PAMM/ MAM:  Not Available
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed

JP Markets vs Hugosway: Side-by-Side Comparison

Product

Product

JP Markets

Hugosway

Founded In

Founded In

2016

2018

Founded By

Founded By

Justin Paulsen

Not Found

Headquarters

Headquarters

Johannesburg, South Africa

St. Vincent and the Grenadines

Regulations

Regulations

FSCA

None

Min Deposit

Min Deposit

R100

$10

Max Leverage

Max Leverage

1:2000

1:500

Tradable Assets

Tradable Assets

Forex; Stocks; Indices; Commodities

Forex, cryptos, commodities, indices and stocks CFDs

Fees

Fees

Spread starting from 0.5 pips or commission $3

Spread from 1.7 pips

Platforms and Tools

Platforms and Tools

MT5

MT4, WebTrader, Desktop Terminal

US Traders

US Traders

Not Allowed

Allowed

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JP Marketss Vs Hugosway: Our Scores and Ratings

We rated both brokers, JP 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.

JP Markets:

Hugosway

Final Verdict :

Both JP Markets and Hugosway offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. JP Markets is a regulated and trusted forex broker. On the other hand, Hugosway is an unregulated offshore forex broker. JP Markets provides Multiple trading platforms including MT4, MT5, MobileTrader (MobileApp). On the Contrary, Hugosway does not offer MT4/MT5. It uses only TradeLocker as its trading platform. 

As JP Markets is not licensed in the USA, it cannot accept US clients. Being an unregulated offshore forex broker, Hugosway can onboard clients from anywhere in the world, including the USA. Therefore, non-US traders may opt for JP Markets, while US traders looking for offshore forex brokers may consider Hugosway. Trading with offshore forex brokers is always risky