RCG Markets vs Hugosway | Compare Pros, Cons and More for 2024

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RCG Markets vs Hugosway: In a Nutshell

RCG Markets

Established in 2018, RCG MARKETS offers direct market access for CFDs and FX trading. While licensed by the South Africa Financial Sector Conduct Authority (FSCA: FSP49769), it lacks regulation from other major regulatory bodies. The broker provides access to the MT4 platform with competitive spreads and commissions.

RCG Markets Overview
  • Founded In: 2018
  • Minimum Deposit: R100
  • Maximum Leverage: 1:3000
  • Regulations:SEC, FINRA, and FCA
  • Trading platform: MT4, MT5
  • Account Types: Classic, Raw, ECN, Royal100
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, AdvCash, BitPay, bitwallet, ecoPayz, ePayments, FasaPay, Help2Pay, Neteller, Payfinder, Skrill, SticPay, TransfterMate, TroniPay, UnionPay, Uphold
  • US Traders: Not Accept

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

RCG Markets vs Hugosway: Pros and Cons

RCG Markets

Pros
  • Regulated by FSCA.
  • Offers popular trading platform (MT4).
  • The maximum leverage is as high as 2000:1.
  • Allows EA trading, scalping, and News trading.
  • Spreads starting from as low as 0 pips.
  • Offers multiple account types.
  • Provides ECN Executions.
  • A wide range of trading instruments are offered including Forex, Indices, Shares, Commodities, and Energies.
Cons
  • Lack of Regulatory Oversight (Only regulated by FSCA in South Africa).
  • The demo account is only valid for 14 days.
  • Limited Trading Platforms.
  • Limited research and educational resources.
  • No Social Trading Options.

Hugosway

RCG Markets vs Hugosway: Side-by-Side Comparison

RCG Markets
Hugosway
Product
Founded In
Founded In
2018
2018
Founded By
Founded By
Not Found
Not Found
Headquarters
Headquarters
Gauteng, South Africa
St. Vincent and the Grenadines
Regulations
Regulations
SEC, FINRA, and FCA
None
Min Deposit
Min Deposit
R50
$10
Max Leverage
Max Leverage
1:3000
1:500
Tradable Assets
Tradable Assets
Forex ,Indices, Share,Commodities and Energies
Forex, cryptos, commodities, indices and stocks CFDs
Fees
Fees
Spread from 1.5 pips, commissions $7/round lot
Spread from 1.7 pips
Platforms and Tools
Platforms and Tools
MT4,MT5
MT4, WebTrader, Desktop Terminal
US Traders
US Traders
Not Allowed
Allowed

RCG Marketss Vs Hugosway: Our Scores and Ratings

We rated both brokers, RCG 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.

RCG Markets:

7
RCG Markets Scores
Regulation and Security (40%)5
Fees and Commissions (20%)9
Trading (15%)9
Trading tools (10%)7
Customer Support (10%)8
Trading Education (5%)7

Hugosway

2.5
Hugosway 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.

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