Oanda vs Hugosway in 2024

Published :
Updated :
Written by

Oanda vs Hugosway: In a Nutshell

Oanda

Founded by Drs. Stumm and Olsen in the USA in 1996, Oanda is one of the oldest and most experienced forex brokers in the world. The broker expanded into Asia in 2007, opened its London office in 2011, and its Sydney office in 2014. On its platforms, you can trade over 3000 forex, CFDs, and even real stocks.

Risk warning: 71% of retail investor accounts lose money.

Oanda Overview
  • Founded In: 1996
  • Minimum Deposit: None
  • Maximum Leverage: 500:1
  • Regulations: ASIC, CFTC, FCA,PFSA,MAS, FSA
  • Trading platform: MT4, MT5, fxTrade app, Tradingview
  • Account Types: Standard , Elitetrader
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, ACH Payments (echeck), BPAY, CHAPS, Check, DBS Bill Payment, Local Bank Deposits, Local Bank Transfers, Neteller, Payment Asia, PayNow, PayPal, SEPA Credit Transfer (SCT), Skrill
  • US Traders:  Accepted 

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

Hugosway Overview
  • Founded In: 2017
  • Minimum Deposit: $10
  • Maximum Leverage: 1:500
  • Regulations: None 
  • Trading platform: MT4 
  • Account Types: Live account, Demo Account
  • Payment Options: BTC, Credit/debit cards, Bank transfer,
  • US Traders: Accepted   
89% CFD Trader Lose Money

Oanda vs Hugosway : Pros and Cons

Oanda Pros and Cons

Pros
  • Regulated by the CySEC, FCA, CFTC, JFSA, IIROC, ASIC, MAS and FSC BVI
  • Clients can trade over 1800 forex/CFDs and over 2000 real stocks.
  • Platforms: MT4, MT5, and Oanda mobile apps on iOS and Android.
  • Trading tools provided are MetaTrader premium tools, Autochartist, Market pulse analysis, etc.
  • Customer support is provided in multiple languages and via different channels.
  • Fast and user-friendly account opening
  • The TradingView platform is available, alongside several VPS services for MT4 hosting.
Cons
  • Bank withdrawals incur a fee which is transferred to the trader.
  • Premium core accounts require a minimum balance of $20,000
  • Inactivity fees are charged from dormant accounts.
  • No account protection for U.S. clients
  • No guaranteed stop-losses for U.S. or U.K. clients
  • Traders in the U.S. cannot access single-stock CFDs
  • No cent accounts, bonus programme for beginner traders

Hugosway Pros & Cons

Pros
  • 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
Cons
  • Offshore Broker with very limited information
  • Limited Deposit and Withdrawal Option 
  • Spread sometimes  widens during market volatility
  • Unregulated Forex broker  
  • No Managed Account Options

Oanda vs Hugosway: Side-by-Side Comparison

Oanda
Hugosway
Product
Founded In
Founded In
1996
2018
Founded By
Founded By
Dr. Michael Stumm & Dr. Richard Olsen
Beachmont Business Centre
Headquarters
Headquarters
New York, New York, United States
St. Vincent and the Grenadines
Regulations
Regulations
ASIC, CFTC, FCA,PFSA,MAS, FSA
None
Min Deposit
Min Deposit
None
$10
Max Leverage
Max Leverage
500:1
1:500
Tradable Assets
Tradable Assets
Forex, Indices , Metals , Shares, Commodities, Cryptocurrencies
Forex, cryptos, commodities, indices and stocks CFDs
Fees
Fees
Spread from 0.8 pips
Spread from
Platforms and Tools
Platforms and Tools
MT4, MT5, fxTrade app
MT4
US Traders
US Traders
Allowed
Not Allowed

Oanda Vs Hugosway: Our Scores and Ratings

We rated both brokers, Oanda 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.

Oanda :

8.8
Total Score
Regulation and Security (40%)10
Fees and Commissions (20%)7
Trading (15%)8
Trading tools (10%)9
Customer Support (10%)9.2
Trading Education (5%)7

Hugosway

2.5
Oanda Scores
Regulation and Security (40%)1.5
Fees and Commissions (20%)4.5
Trading (15%)5.2
Trading tools (10%)1
Customer Support (10%)5
Trading Education (5%)1

Final Verdict :

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

Leave a Comment