XM vs Hugosway in 204

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Forex traders always look for trading with brokers that suit their trading needs and preferences. XM and Hugosway are online forex brokers that offer their trading services to traders and investors. XM is a  regulated and trusted forex broker. It is regulated in two tier-1, two tier-2, and one tier-4 jurisdictions including ASIC, CySEC, FSCA, FSC-Belize, and DFSA. 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 XM 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.

XM vs Hugosway: In a Nutshell

XM

XM is a well-regulated Australian broker founded in 2009. On its MT4 and MT5 platforms, you can trade over 1,000 forex, CFDs and even real stocks. Its ultra-low standard and micro accounts come with low trading fees. Trading tools like Autochartist, market news and analysis are provided.

Risk warning: 72.89% of CFD accounts lose money

XM Overview
  • Founded In: 2009
  • Minimum Deposit: $5
  • Maximum Leverage: 1000:1
  • Regulations: FSC
  • Trading platform: MT4, MT5
  • Account Types: Ultra Low, Micro, Standard, Islamic
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill
  • 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

XM vs Hugosway : Pros and Cons

XM Pros and Cons

Pros
  • Regulated by CySEC, ASIC, DFSA in UAE, and FSC Belize.
  • Easy and fast account opening
  • Minimum deposit is $5
  • Over 1000 forex/CFDs are available for trading.
  • MT4 and MT5 are the available trading platforms.
  • Quality research, market analysis, and access to trading tools like Autochartist.
  • Quality training for newbies and ‘ultra-low micro account’ for beginners.
  • High leverage up to 1000:1 (this leverage is not available to all the entities of the Group)
Cons
  • Dormant fees are charged after 3 months of no account activity.
  • Trading of real stocks is not available to European traders.
  • Traders have no other choice apart from the MetaTrader platforms.
  • Limited tradable assets.
  • No passive investment services (social trading platform, PAMM accounts);
  • Funding with PayPal is unavailable

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

XM vs Hugosway: Side-by-Side Comparison

XM
Hugosway
Product
Product
Founded In
Founded In
2009
2018
Founded By
Founded By
Constantinos Cleanthous
Beachmont Business Centre
Headquarters
Headquarters
Limassol, Cyprus
St. Vincent and the Grenadines
Regulations
Regulations
ASIC, CySec , FSC , DFSA, FSCA
None
Min Deposit
Min Deposit
$5
$10
Max Leverage
Max Leverage
1000:1
1:500
Tradable Assets
Tradable Assets
Forex , Commodities, Stock ,Indices , Crypto , Turbo Stocks Equity indices , Precious Metals , Energies
Forex, cryptos, commodities, indices and stocks CFDs
Fees
Fees
Spreads as low as 0.6 pips
Spread from
Platforms and Tools
Platforms and Tools
MT4, MT5
MT4
US Traders
US Traders
Not Allowed
Not Allowed

XM Vs Hugosway: Our Scores and Ratings

We rated both brokers, XM 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.

XM :

9.3
Total Score
Regulation and Security (40%)9.6
Fees and Commissions (20%)9.5
Trading (15%)8.4
Trading tools (10%)8.6
Customer Support (10%)9.5
Trading Education (5%)9.4

Hugosway

2.5
XM 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 XM and Hugosway offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. XM is a highly regulated and trusted forex broker. It is regulated by top-tier regulatory authorities, including ASIC, CySEC, FSCA, FSC-Belize, and DFSA. On the other hand, Hugosway is an unregulated offshore forex broker. XM provides Multiple trading platforms including MT4, MT5, WebTrader, NinjaTrader, MotiveWave, MultiCharts, TradingView, and more. On the Contrary, Hugosway does not offer MT4/MT5. It uses only TradeLocker as its trading platform. 

As XM 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 XM, while US traders looking for offshore forex brokers may consider Hugosway. However, 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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