HugoFX, sometimes also referred to as Hugo’s Way FX, is a relatively new forex & CFD broker registered in the Seychelles in 2017. Although the Seychelles generally regulates forex brokers through the Seychelles Financial Services Authority (SFSA), Hugo FX is one of many unregulated forex brokers that operate out of the country in what appears to be a regulatory grey area. Hugo’s Way is a new competitor in the social trading sphere. The space is fairly crowded with services like MyFxBook’s Autotrade, Zulutrade and eToro. That being said, Hugo’s way is still in “beta” - the company is not fully operational and we will have to update this review in the future.
|#||Broker's Features||INVESTOUS Availability||HUGOFX Availability|
|#||Accepts US traders||✔||❌|
|#||24 hour trading||❌||❌|
|#||Trading by phone||❌||❌|
|#||1st deposit bonus||❌||❌|
|#||Forex contests competitions||❌||❌|
|#||Interest charges on the balance||❌||❌|
|#||24 hour support||❌||❌|
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will compare Investous vs Hugofx.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. Investous offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Stocks, Cryptocurrency, while Hugofx offers Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities, Cryptocurrencycurrency.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. Investous is No dealing desk, STP, while Hugofx is ECN, STP.
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. Investous is regulated by CySEC, IFSC, while Hugofx regulated by Not regulated. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Payment methods: Next lets have a look at each broker's payment options. Investous offers different payment methods for each account types, while Hugofx offers Credit/Debit Cards, Bitcoin, Bank Transfer payment methods.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, Investous makes MT4 available to clients, while Hugofx offers MT4, Web-trader.
There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.
Objectively, Hugofx is more reliable based on our criteria above. Hugofx offers a wider range of platforms making it easier for the traders to choose one that matches their needs most.
Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Broker based on your precise requirements here.