Eightcap vs HugosWay - Fees Review included
Which broker is better Eightcap or HugosWay? Our expert assessment conducted according to TU’s own methodology showed that Eightcap is one of the top brokers in the financial market with the TU Overall Score of 9.04 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 | Eightcap | HugosWay |
|---|---|---|
Overall |
2.9 |
3.3 |
3.3 |
1 |
|
3.7 |
3.7 |
|
3.7 |
3.5 |
|
Investment Instruments |
1 |
1 |
Platforms and Charting Tools |
3.5 |
3.5 |
Deposit and Withdrawal |
3.6 |
4.1 |
Research |
3.9 |
2.5 |
Education |
3.4 |
2.4 |
Support |
3.6 |
3.4 |
Bonuses |
4 |
1 |
|
|
|
Eightcap vs HugosWay: Pros and Cons
Eightcap is regulated by the Australian Securities and Investment Commission (AFSL 443670) and by the Vanuatu Financial Services Commission (reg. no. 40377). Eightcap was incorporated in Melbourne, Australia, and offers its services as an online financial trading organization. Eightcap's line of business is Forex and CFD trading services offered to both retail and institutional clients. Eightcap gives access to one of the most popular trading platforms – MetaTrader 4.
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.
| Eightcap | HugosWay | |
|---|---|---|
| Overall Pros | a large number of trading assets | ECN/STP technology |
| Low fees | Crypto withdrawal | |
| Good bonus programs | Order processing speed - 150-250 ms | |
| Raw account avaible | ||
| Overall Cons | High minimum deposit - $100 | Not regulated broker |
| lack of investment programs | Limited number of supported assets | |
| Weak research and education | ||
| No passive income tools | ||
| High spread |
Eightcap vs HugosWay: Safety and Regulation
| Regulated By: | Eightcap | HugosWay |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
ASIC, VFSC |
Hugo's Way is unregulated forex broker |
Eightcap vs HugosWay: Trading Conditions
| Trading Conditions | Eightcap | HugosWay |
|---|---|---|
Minimum Deposit |
$100 |
$10 |
Trading Platforms |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
МТ4 |
Max Leverage (Futures) |
1-30 for Australian clients and 1-500 for Non-AU clients |
1-500 |
Supported Markets |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
Forex CFDs on Crypto, Metals, Indices, Stocks |
Trading assets |
3620+ |
150+ |
Trading Accounts |
Standard Account, Raw Account, Demo |
Real |
Base Account Currencies |
AUD, USD, GBP, NZD, SGD, EUR |
USD |
Eightcap vs HugosWay: Fees
Forex Trading Fees
| Fee | Eightcap | HugosWay |
|---|---|---|
Standard Account EURUSD Average Spread |
0.76 pips |
0.7 pips |
Standard Account Fee |
$0 |
$5 |
ECN/STP Account Fee |
$0 |
$5 |
ECN Account EUR Average Spread |
0,06 pips |
0.7 pips |
CFD Trading Fees
| Fee | Eightcap | HugosWay |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Eightcap | HugosWay |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
Bank transfers have variable fees, typically about 25$ |
$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.
Eightcap vs HugosWay: Trading Assets
| Asset Name | Eightcap | HugosWay |
|---|---|---|
Overall |
3620+ |
150+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes (CFD) |
Metals |
Yes |
Yes (CFD) |
Cryptocurrencies |
Yes |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes |
Yes (CFD) |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
Eightcap or HugosWay: Investment Programs
| Asset Name | Eightcap | HugosWay |
|---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: HugosWay or Eightcap
| Eightcap | HugosWay | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
No |
No |
|
|
|
Eightcap vs HugosWay: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Eightcap | HugosWay |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
Yes |
Eightcap vs HugosWay: Research
| Research Type | Eightcap | HugosWay |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
No |
Eightcap vs HugosWay: Education
| Education Type | Eightcap | HugosWay |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
No |
Videos |
No |
Yes |
Cent account |
No |
No |
HugosWay vs Eightcap: Support
| Support Features | Eightcap | HugosWay |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Eightcap vs HugosWay: Forex Bonuses and Promo
| Promo | Eightcap | HugosWay |
|---|---|---|
Forex Bonus |
If you are a new client of Eightcap and you fund your new live trading account with them within 10 days of your account being opened then you are eligible to earn up to a $1,000 trading credit bonus which you can also convert into real equity at a rate of $1 for every standard FX lot when you trade; $30 No-deposit bonus |
No |
Affiliate Program |
You can refer your followers and customers to earn passive income, with rebates up to $6 USD per lot and CPAs up to $900 USD |
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 Eightcap
-
Comment
I can honestly say that Eightcap’s one of the best economic calendars I've ever used. It's a great way to stay up-to-date on the latest news and events that can impact the forex market. The calendar is easy to navigate, and it shows you the upcoming economic events, their estimated impact (low, medium, high), and the currency pairs that might be affected. You can see events like the Chicago Fed National Activity Index and the Westpac Consumer Confidence for Australia. This info is all really helpful for planning your trades. Recently, I used the AvaTrade calendar to see what economic data was coming out for the US dollar (USD). There was a big report on retail sales coming up, and AvaTrade predicted it could have a high impact on the USD. I decided to hold off on a trade I was considering until after the report was released, just in case it caused a lot of volatility. Turned out to be a good decision, because the USD price moved a lot after the report came out.
-
Comment
So, let me tell you a little about my experience with Eightcap. Their registration process? Quite thorough. They did a good job explaining the options during sign-up. However, uploading documents could use some improvement. I found it a bit tricky at first, and it didn't seem to overwrite previous uploads, which was a bit confusing. So yeah, some roadblocks in the way but my overall experience has been positive so far with Eightcap.
-
Comment
I've been using Eightcap for a few weeks now, and I've been impressed with their customer service. The other day, I had a question about depositing funds to my account. I didn't want to wait on hold on the phone, so I decided to try their chatbot support. To my surprise, the chatbot was really helpful. It was able to answer my question quickly and easily, without any hassle. Based on my experience, Eightcap's chatbot seems like a great resource for getting quick answers to basic questions. It's definitely a plus for new traders who might be unfamiliar with the platform or forex trading in general. Of course, if you have a more complex issue, you might still need to contact a live person. But for those simple questions, the chatbot is a great way to go.
-
Comment
I've been trading with Eightcap for about a year now. The broker offers reasonable trading conditions, a fast platform, and instant order execution. Traders here are not restricted from trading on news events, and any strategies can be applied. It's important that the Eightcap terminal doesn't disappoint, with the server connection always stable. Overall, the platform operates smoothly without freezes or glitches.
-
Comment
The broker Eightcap can provide good trading opportunities. There are no special features here, but the platform works quickly. Therefore, you can trade actively and open trades in a medium-term trading system. Eightcap has proven itself quite well. I have been working with them for two years and haven't noticed any serious problems.
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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.