Pepperstone vs Hugosway Compared in 2024 : Pros, Cons, and More !

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Forex traders always look for trading with brokers that suit their trading needs and preferences. Pepperstone and Hugosway are online forex brokers that offer their trading services to traders and investors. Peperstone is a highly regulated and trusted forex broker. It is regulated in three Tier-1 jurisdictions, two Tier-2 jurisdictions, and two Tier-4 jurisdictions. On the other hand, Hugosway is an offshore forex broker which is not regulated by any regulatory bodies. 

In this article, we will review and compare the brokerage services offered by Pepperstone 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.

Pepperstone vs Hugosway: In a Nutshell

Pepperstone

Founded in 2010; Pepperstone gives you access to trade more than 1200 forex/CFDs on its powerful platforms; MT4, MT5, cTrader, and TradingView. Courtesy of its technological infrastructure, Pepperstone offers lightning-speed executions, multiple trading tools, and low trading fees. It is regulated in 7 jurisdictions and boasts of over 400,000 clients from all over the world.

Pepperstone At a Glance

Pepperstone At a Glance
  • Founded In: 2010
  • Minimum Deposit: $200
  • Maximum Leverage: 400:1
  • Regulations: ASIC, CySEC, SCB, BaFIN,CMA,DFSA, FCA
  • Trading platform: MT4, MT5, cTrader, DupliTrade, TradingView
  • Account Types: Standard, cTrader raw spread, MetaTrader raw spread , Islamic
  • Payment Options:Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BPAY, Local Bank Transfers, M-Pesa, Neteller, PayPal, Poli, Skrill, UnionPay
  • US Clients : Not 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

Pepperstone vs Hugosway: Pros and Cons

Pepperstone

Pros
  • Regulated in 7 Reputed Jurisdictions (FCA in the UK, CySEC in Cyprus, ASIC in Australia, BaFin in Germany, DFSA in Dubai, CMA in Kenya, and SCB in the Bahamas) 
  • Fast order execution (fast execution on an average of 30 ms) 
  • Competitive spread starting from 0.0 pips 
  • Segregated clients fund with tire 1 bank 
  • No Inactivity Fees 
  • Attractive Trading Conditions 
  • Wide Range of Instruments Offered 
  • Fast and full online account opening 
  • MT4 Smart trader tools, Autochartist, Capitalise.ai, and free VPS are some of the trading tools available.
Cons
  • US Traders not allowed 
  • Only CFDs are Offered 
  • No cent/Micro Account 
  • Minimum deposit 200
  • Support works only 24/5  
  • Limited account protection for non-U.K./E.U. clients
  • No guaranteed Stop loss 
  • 30-day expiry for demo accounts

Hugosway

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

Pepperstone vs Hugosway: Side-by-Side Comparison

Pepperstone
Hugosway
Product
Founded In
Founded In
2010
2018
Founded By
Founded By
Owen Kerr and Joe Davenport
Beachmont Business Centre
Headquarters
Headquarters
Melbourne, Australia
St. Vincent and the Grenadines
Regulations
Regulations
FCA, ASIC, SCB, CMA, CySEC and BaFin
None
Min Deposit
Min Deposit
None
$10
Max Leverage
Max Leverage
1:500
1:500
Tradable Assets
Tradable Assets
Over 1200 forex, CFDs in stocks, indices, commodities, ETFs and Cryptos
Forex, cryptos, commodities, indices and stocks CFDs
Fees
Fees
Spread from 1.0 pips, commissions $7/round lot
Spread from
Platforms and Tools
Platforms and Tools
MT4, MT5, cTrader, TradingView
MT4
US Traders
US Traders
Not Allowed
Not Allowed

Pepperstone Vs Hugosway: Our Scores and Ratings

We rated both brokers, Pepperstone 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.

Pepperstone :

9.4
Total Score
Regulation and Security (40%)10
Fees and Commissions (20%)9.2
Trading (15%)8.5
Trading tools (10%)9
Customer Support (10%)9.6
Trading Education (5%)8

Hugosway :

2.5
IC Markets 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 :

Both Pepperstone and Hugosway offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. Pepperstone is a highly regulated and trusted forex broker. It is regulated by top-tier regulatory authorities, including FCA, ASIC, CySEC, DFSA, CMA, SCB, and BaFin. On the other hand, Hugosway is an unregulated offshore forex broker. Pepperstone provides Multiple trading platforms including MT4, MT5, cTrader, and TradingView. On the Contrary, Hugosway does not offer MT4/MT5. It uses only TradeLocker as its trading platform. 

As Pepperstone 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 Pepperstone, while US traders looking for offshore forex brokers may consider Hugosway. Trading with offshore forex brokers is risky and not recommended.

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.

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