FXTM vs Hugo’s Way

FXTM vs Hugo's Way Comparison Table 2024
FXTM Hugo's Way
4
1.5

FXTM is a top-rated forex and CFD broker established in 2011 and operating across 4 continents. The company is secure and regulated by leading authorities, including the FCA and CySEC. Offering 1000+ day trading markets and three account types, they cater to all levels of trader.

Hugo's Way is a true ECN brokerage, offering 160+ assets on the MT4 platform. Traders benefit from a low $10 minimum deposit requirement, 24/7 customer support and generous leverage up to 1:500. Hugo's Way is an unregulated broker based offshore in St. Vincent and the Grenadines.

Bonus Offer
30% up to $100 via Exinity Ltd
Comment by Reviewer
"FXTM is a good pick for day traders seeking low forex commissions on the MetaTrader 4 platform. That said, the range of other assets is not extensive for those looking to diversify, especially stocks and cryptocurrencies." "After exploring the platform myself, I think Hugo's Way is going to be best for new or experienced MT4 traders who are comfortable with Bitcoin deposits and withdrawals. That said, I am hesitant about the lack of robust regulatory oversight."
Pros
  • The broker delivers an excellent charting environment for day traders, with over 30 technical tools offered in the MT4 platform, plus a range of additional platform indicators for monitoring spreads, orders, pivot levels and more
  • Beginners can access a strong range of free educational materials and short-term market insights, including a podcast hosted by the brand’s expert team
  • FXTM offers free VPS hosting for active day traders looking for 24/7 uninterrupted connection with up to 99.9% uptime
  • The broker has a good reputation with multiple industry awards and oversight from top-tier regulators like the CySEC
  • Customer support is reliable and available in 30+ languages, making FXTM a top choice among global traders
  • Negative Balance Protection is available to clients registering with the EU and UK entities
  • I was glad to see the MT4 platform with flexible desktop, web and mobile access, plus an unlimited demo account for those who want to practice strategies continuously
  • Experienced traders will appreciate the generous leverage up to 1:500 with no trading restrictions on strategies
  • I'm pleased with the low minimum deposit requirement of $10 (equivalent in BTC), which ideal for novice investors or those on a budget
  • I'm a fan of the 24/7 live chat alongside an email address and FAQ help section to help new traders get started quickly
Cons
  • It’s a shame that ETFs and bond products are not available, and the selection of stocks is not extensive compared to competitors like AvaTrade
  • Spreads are mediocre in the commission-free accounts, with typical EUR/USD spreads around 1.9 pips - the industry average is around 1.2 pips
  • Withdrawal fees apply, including a 30 EUR fee on bank wire withdrawals
  • There are limited e-wallet payment options compared to alternatives
  • I would urge traders to be cautious since Hugo's Way is an unregulated brand, registered offshore in the Seychelles
  • I find the overall market offering is very uncompetitive compared to other brands, with only 160+ assets on offer
  • There are also no additional trading tools such as VPS or copy trading for those looking to broaden their trading experience
  • It's a shame that deposits can only be made via Bitcoin or credit/debit card with higher minimum deposit requirements for using card
Awards
  • Best Trading Experience 2021 - World Finance Awards
  • Best Online Leveraged Trading Services 2021 - Global Business Awards
  • Best Forex Education Partner Nigeria 2021 - World Business Outlook
  • Best Trading Experience 2020 - World Finance Awards
  • Best ECN Broker 2020 - DayTrading.com
Instruments
Forex, CFDs, Indices, Commodities, Stocks CFDs, Forex, Stocks, Cryptos, Futures, Commodities
Demo Account
Yes Yes
Minimum Deposit
$10 $10
Trading Platforms
  • FXTM App
  • MT4
  • MT5
  • MT4
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
CySEC, FCA, FSCA, FSC
Margin Trading
Yes Yes
STP Account
Yes Yes
ECN Account
Yes Yes
DMA Account
No No
MAM Account
Yes No
PAMM Account
Yes No
LAMM Account
No Yes
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes No
Market Maker
Yes No
P2P Trading
No No
Spot Trading
Yes No
Mobile Apps
iOS & Android iOS & Android
App Review

FXTM deliver a great mobile trading experience. Fast, secure and easy-to-use, the app supports both MetaTrader 4 and 5 and delivers real time quotes, all trading execution types and full account maintenance. The charting facilities are also among the best of any mobile app. Download it today.

Android App Rating
4.4
iOS App Rating
4.8
Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
No No
Social Trading
No No
Trade Signals
Yes
VPS Hosting
Yes No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$5
Islamic Account
Yes No
Account Currencies
  • USD
  • EUR
  • GBP
Stock Exchanges
Commodities
CFD Trading
FXTM’s CFD offering spans 250+ forex, stocks, commodities and indices, plus crypto CFDs at the global entity. Leverage up to 1:30 is available from the CySEC-regulated branch, though highly seasoned traders can also access massive 1:2000 rates from the global entity. My tests found 200+ CFDs across six asset classes such as forex, crypto and stocks with leverage up to 1:500. The broker has a low minimum deposit requirement of $10 so new and budget-conscious CFD traders can get started easily.
Leverage
1:500
FTSE Spread
1.3 0.77
GBPUSD Spread
0.2 1.2
Oil Spread
5.0 0.87
Stocks Spread
0.1
Forex Trading
FXTM offers a strong range of 60+ currency pairs - more than many competitors including AvaTrade. There’s also 6 currency indices for day traders looking to diversify their forex portfolios. The brand’s ECN account offers competitively low spreads from 0 pips, with equally low commissions up to $2 per lot. Hugo's Way offers a good selection of 50+ major, minor and crosses with leverage up to 1:500 on the MT4 terminal. I was glad to see micro lot (0.01) trading available, as well as hedging, scalping and news trading strategies.
Forex App

FXTM deliver a great mobile trading experience. Fast, secure and easy-to-use, the app supports both MetaTrader 4 and 5 and delivers real time quotes, all trading execution types and full account maintenance. The charting facilities are also among the best of any mobile app. Download it today.

GBPUSD Spread
0.2 1.2
EURUSD Spread
0.1 0.5
EURGBP Spread
0.6 0.4
Assets
50+ 55
Currency Indices
  • USD
  • EUR
  • GBP
  • JPY
  • AUD
  • NZD
Cryptocurrency
Cryptocurrency CFDs are available on 11 popular digital coins for those using the international entity. Bitcoin is available, alongside popular altcoins like Avalanch and Dogecoin. Spreads are floating and minimum lot sizes from 0.01 are available. I was impressed with the 35 crypto pairs on offer 24/7 on the MT4 terminal. Some of my favorites are available including BCH/BTC, ETH/BTC and BTC/USD with leverage up to 1:100. Traders also benefit from Bitcoin deposit options, though this might feel restricting for some.
Spread
Variable Variable
Coins
  • BTC
  • ETH
  • LTC
  • XRP
  • BTC
  • BCH
  • BIT
  • DASH
  • DOGE
  • EDO
  • EOS
  • ETH
  • QTUM
  • ETP
  • IOTA
  • USDT
  • LTC
  • NEO
  • OMG
  • ETC
  • SAN
  • TRX
  • XMR
  • IOST
  • XRP
  • ZEC
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
More Comparisons
FXTM
vs
Hugo's Way
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