EagleFX vs HugosWay - Fees Review included
Which broker is better EagleFX or HugosWay? Our expert assessment conducted according to TU’s own methodology showed that EagleFX is one of the top brokers in the financial market with the TU Overall Score of 6.13 out of 10. HugosWay is one of the top brokers in the financial market with the TU Overall Score of 5.3 out of 10. Find out more about TU Overall Score.
| Feature | EagleFX | HugosWay |
|---|---|---|
Overall |
2.5 |
3.3 |
1 |
1 |
|
4 |
3.7 |
|
3.8 |
3.5 |
|
Investment Instruments |
1 |
1 |
Platforms and Charting Tools |
2.7 |
3.5 |
Deposit and Withdrawal |
2.3 |
4.1 |
Research |
2.4 |
2.5 |
Education |
2.9 |
2.4 |
Support |
4 |
3.4 |
Bonuses |
1.5 |
1 |
|
|
|
EagleFX vs HugosWay: Pros and Cons
EagleFX assists traders in trading on the Forex market. The company is registered in the Dominican Republic and provides financial services to traders from all over the world. EagleFX offers clients the following instruments: stocks, currency pairs, cryptocurrencies, commodities, and indices. Trading using the service of copying transactions, automated programs, and PAMM accounts is not provided.
HugosWay (also Hugo’s Way and Hugosway) was founded in 2017. Despite its relatively young age, the company has firmly established itself among the classic brokers working on Forex with traditional trading instruments. HugosWay aims to cooperate with clients from Europe and Asia. Registration is in Saint Vincent and the Grenadines.
| EagleFX | HugosWay | |
|---|---|---|
| Overall Pros | Registration with the site and opening an account take only a few minutes. | ECN/STP technology |
| The demo account is free and available to traders for an unlimited amount of time. | Crypto withdrawal | |
| You can contact support at any time of the day, any day of the week. | Order processing speed - 150-250 ms | |
| The STP technology is used for fast order execution. | ||
| You can trade using PCs, tablets, and mobile devices. | ||
| To protect clients’ funds, the broker uses a cold storage method. | ||
| Overall Cons | There are no passive income programs. | Not regulated broker |
| There are no educational articles, videos, or courses on the broker’s website. | Limited number of supported assets | |
| Not regulated at all | Weak research and education | |
| No passive income tools | ||
| High spread |
EagleFX vs HugosWay: Safety and Regulation
| Regulated By: | EagleFX | HugosWay |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
No |
Hugo's Way is unregulated forex broker |
EagleFX vs HugosWay: Trading Conditions
| Trading Conditions | EagleFX | HugosWay |
|---|---|---|
Minimum Deposit |
$10 |
$10 |
Trading Platforms |
MetaTrader 4 for Windows, iOS, Android, WebTrader |
МТ4 |
Max Leverage (Futures) |
1-500 |
1-500 |
Supported Markets |
Fiat currency, cryptocurrency, indices, commodities, shares |
Forex CFDs on Crypto, Metals, Indices, Stocks |
Trading assets |
102+ |
150+ |
Trading Accounts |
Real, demo-account |
Real |
Base Account Currencies |
USD, BTC, GBP, and EUR |
USD |
EagleFX vs HugosWay: Fees
Forex Trading Fees
| Fee | EagleFX | HugosWay |
|---|---|---|
Standard Account EURUSD Average Spread |
0.7 pips |
0.7 pips |
Standard Account Fee |
$0 |
$5 |
ECN/STP Account Fee |
Not supported |
$5 |
ECN Account EUR Average Spread |
Not supported |
0.7 pips |
CFD Trading Fees
| Fee | EagleFX | HugosWay |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | EagleFX | HugosWay |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
$25 |
Inactivity Fee |
No |
no |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
EagleFX vs HugosWay: Trading Assets
| Asset Name | EagleFX | HugosWay |
|---|---|---|
Overall |
102+ |
150+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
EagleFX or HugosWay: Investment Programs
| Asset Name | EagleFX | HugosWay |
|---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: HugosWay or EagleFX
| EagleFX | HugosWay | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
No |
No |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
No |
No |
|
|
|
EagleFX vs HugosWay: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | EagleFX | HugosWay |
|---|---|---|
Bank Transfer |
No |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
No |
Yes |
Crypto |
Yes |
Yes |
EagleFX vs HugosWay: Research
| Research Type | EagleFX | HugosWay |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
No |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
No |
No |
E-Mail Reports |
No |
No |
EagleFX vs HugosWay: Education
| Education Type | EagleFX | HugosWay |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
No |
No |
Videos |
No |
Yes |
Cent account |
No |
No |
HugosWay vs EagleFX: Support
| Support Features | EagleFX | HugosWay |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
Callback |
No |
EagleFX vs HugosWay: Forex Bonuses and Promo
| Promo | EagleFX | HugosWay |
|---|---|---|
Forex Bonus |
No |
No |
Affiliate Program |
EagleFX has the multi tier affiliate program. Tire 5 affiliates gets a $0,05 per lot traded, Tire 4 $0,15 per lot traded, Tier 3 $0,3 per lot traded, Tier 2 $0,50 per lot traded and Tier 1 $4 per lot traded |
Yes |
Other Promos |
||
|
|
|
Top 5 Reviews on HugosWay
-
Comment
I've been working with HugosWay for four years now. Although this broker may not be as widely known as some others, its clients note that the company takes its traders seriously. If any issues arise during trading, they can be resolved by contacting HugosWay's support team. However, my support tickets haven't always been processed quickly, which is a downside to the broker.
-
Comment
When I opened an account with HugosWay, the customer support team convinced me of excellent conditions for active trading. They recommended opening an ECN account for the best experience. However, it turned out that among all ECN systems, this broker has the worst one. There are no advantages, only a commission of $8 per lot. In terms of execution speed, requotes, and slippages, everything is at a terrible level. Therefore, it's not advisable to trust everything the HugosWay managers say.
-
Comment
If you believe HugosWay, they have the fastest trading platform. However, in reality, order processing in this company can take anywhere from a few seconds to five minutes. I trade with two companies and see a significant difference in order processing speed. Unfortunately, the HugosWay customer support believes that everything is fine with the company. Therefore, I have discontinued my collaboration with this broker.
-
Comment
HugosWay is a complete scam. They lure traders with big promises of profit and then disappear with their money. I fell victim to their fraudulent actions and lost a significant amount of money. Technical support is silent because they have no intention of returning the money. Avoid HugosWay at all costs and save yourself from the headache associated with this unscrupulous company. Don't fall for their cunning marketing tactics and false promises.
-
Comment
HugosWay is blocking trader accounts for completely unclear reasons. The support service cites the possibility of hacker attacks and the use of third-party software as the main reasons. But blocking of an account results in the inability to withdraw your funds. And this is already a serious problem for its clients.
Top 5 Reviews on EagleFX
-
Comment
I use the services of Eagle FX and have some comments. Overall, the platform is not bad, I compared it with other brokers. I'm glad it's an honest company. For me, this income was not difficult. I continue to trade.
-
Comment
I work with several brokers at once. Order execution at EagleFX sometimes slows down in a volatile market, but I have seen this with many brokers. Also, there are withdrawal delays, but not long. Quotes are normal, as with other brokers. I didn’t notice any drawings or quote manipulation.
-
Comment
Before opening an account with EagleFX, I worked with other brokers, but my results were not very good, and once I was even severely deceived. So, from the very beginning, I was very cautious. But fortunately, my fears were not confirmed. I already have results, and I am not worried about anything like I was six months ago. I have withdrawn profits of about $500 during this time. Therefore, I consider EagleFX to be quite good.
-
Comment
EagleFX offers conditions under which it is possible to increase a deposit. Of course, this requires a trading strategy. By the way, any strategy can be used here because there are no restrictions. The platform works quickly, you can trade both intraday and medium-term. EagleFX withdraws profits without any problems.
-
Comment
A drawback of the EagleFX broker is the lack of diversity in account types. The company offers only one type of account, the classic one. However, the conditions are quite good. The spreads on various assets are low, contributing to increased profitability. Positive swaps can be selected, making medium-term trading relevant. The customer support at EagleFX is weak, but I have only encountered it twice.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.