IC Markets vs Hugo’s Way

IC Markets vs Hugo's Way Comparison Table 2024
IC Markets	Hugo's Way
Review 4.8	Review 1.5

IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.	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.
Customer Reviews
4 Based on 2 IC Markets customer reviews
Comment by Reviewer
"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."	"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
IC Markets offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for day traders. As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally. With ultra-fast execution speeds averaging 35 milliseconds and deep liquidity, IC Markets provides an optimal trading environment for scalpers, hedgers, and algorithmic traders. IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues. You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.	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
While IC Markets offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes. The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners. There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals. Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind. Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.	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 MT4/MT5 Broker 2023 - DayTrading.com Best Forex Broker 2022 - DayTrading.com Best Overall Broker 2020 - DayTrading.com Best Trading App 2020 - DayTrading.com
Instruments
CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto	CFDs, Forex, Stocks, Cryptos, Futures, Commodities
Demo Account
Yes	Yes
Minimum Deposit
$200	$10
Trading Platforms
MT4 MT5 cTrader TradingView TradingCentral DupliTrade	MT4
Payment Methods
BPAY Credit Card Klarna Mastercard Neteller PayPal POLi Rapid Transfer SafeCharge Skrill Swift UnionPay Visa Wire Transfer	Bitcoin Payments Credit Card Mastercard Visa Wire Transfer
Minimum Trade
0.01 Lots	0.01 Lots
Regulator
ASIC, CySEC, FSA
Margin Trading
Yes	Yes
STP Account
No	Yes
ECN Account
Yes	Yes
DMA Account
Yes	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
No	No
P2P Trading
No	No
Spot Trading
Yes	No
Mobile Apps
iOS & Android	iOS & Android
App Review
IC Markets deliver mobile apps for their cTrader, MT4, MT5 and TradingView platforms. They have been developed on Android and iOS separately, taking full advantage of the functionality available on each. With raw pricing, and spreads from 0.0, the apps deliver an excellent trading tool for all levels of trader. Yet what really stands out is how they’ve managed to maintain the lightning-fast execution speed IC Markets is known for, right within the apps. It’s a seamless trading experience that feels both professional and highly responsive.
Android App Rating
4.2
iOS App Rating
3.1
Auto Trading
Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade
Copy Trading
Yes	No
Copy Trading Platform
Launched in February 2023, the IC Social app offers an intuitive way to learn, share, and mirror the positions of other traders with just a few clicks. Additionally, the app features risk management tools and supports dedicated trading groups. Alternatively, IC Markets grants access to Signal Start, along with well-known third-party copy trading platforms including ZuluTrade and cTrader Copy.
Social Trading
Yes	No
Trade Signals
Signal Start
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
$0
Islamic Account
Yes	No
Account Currencies
USD EUR GBP CAD AUD NZD JPY CHF HKD SGD
Stock Exchanges
Australian Securities Exchange (ASX) CAC 40 Index France DAX GER 40 Index Dow Jones Euronext FTSE UK Index Hang Seng IBEX 35 Nasdaq New York Stock Exchange Russell 2000 S&P 500	Australian Securities Exchange (ASX) Deutsche Boerse Euronext Japan Exchange Group New York Stock Exchange
Commodities
Cocoa Coffee Corn Gold Natural Gas Oil Orange Juice Silver Soybeans Sugar Wheat	Gold Natural Gas
CFD Trading
You gain access to over 2,250 CFDs, available for trading 24/5 across popular markets such as forex, commodities, indices, stocks, and bonds. Utilizing deep liquidity and advanced bridge technology, IC Markets ensures optimal conditions for scalpers, hedgers, and algo traders alike.	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
1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)	1:500
FTSE Spread
1.0	0.77
GBPUSD Spread
0.23	1.2
Oil Spread
0.03	0.87
Stocks Spread
0.02
Forex Trading
IC Markets maintains its commitment to providing exceptionally tight 0.0-pip forex spreads on major currency pairs such as EUR/USD. This makes it an excellent option if you are seeking superior execution, with an average of 35 milliseconds. Additionally, if you are a high-volume trader, you can benefit from rebates of up to $2.50 per forex 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
IC Markets deliver mobile apps for both their cTrader and MT5 platforms. Both have been developed on android and iOS separately, taking full advantage of the functionality available on each. With raw pricing, and spreads from 0.0, the apps deliver an excellent trading tool for all levels of trader. The speed of execution synonymous with IC Markets is retained across their apps.
GBPUSD Spread
0.23	1.2
EURUSD Spread
0.02	0.5
EURGBP Spread
0.27	0.4
Assets
75	55
Cryptocurrency
IC Markets offers 20+ cryptocurrencies which are tradable via CFDs, including lesser-known tokens such as Avalanche, Kusama and Uniswap. Commission-free trading is available, and experienced crypto traders can access high leverage up to 1:200 in the MetaTrader platforms.	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
BTC 42.036	Variable
Coins
BTC BCH DOT DSH EMC EOS ETH LNK LTC NMC PPC XLM XRP ADA BNB DOG UNI XTZ	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

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