GO Markets vs HugosWay - Fees Review included
Which broker is better GO Markets or HugosWay? Our expert assessment conducted according to TU’s own methodology showed that GO Markets is one of the top brokers in the financial market with the TU Overall Score of 4.6 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 | GO Markets | HugosWay |
|---|---|---|
Overall |
1.7 |
3.3 |
1.2 |
1 |
|
1.8 |
3.7 |
|
1.9 |
3.5 |
|
Investment Instruments |
1.7 |
1 |
Platforms and Charting Tools |
1.8 |
3.5 |
Deposit and Withdrawal |
2 |
4.1 |
Research |
1.6 |
2.5 |
Education |
1.8 |
2.4 |
Support |
1.7 |
3.4 |
Bonuses |
1.6 |
1 |
|
|
GO Markets vs HugosWay: Pros and Cons
GO Markets is an international investment company with several representative offices regulated by SyCES (Cyprus) and FSC (Mauritius). It specializes in CFD transactions on currency pairs, indices, commodities, and metals. It offers Standard and ECN accounts, MetaTrader 4 and MetaTrader 5 terminals, access to professional analytics, and free training webinars. The GO Markets parent company was founded in 2006 and is regulated by ASIC.
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.
| GO Markets | HugosWay | |
|---|---|---|
| Overall Pros | The parent company has been in operation for decades and its activities are under the control of several regulators. | ECN/STP technology |
| The ability to trade with both classic and ECN accounts. | Crypto withdrawal | |
| Low deposit size on professional accounts. | Order processing speed - 150-250 ms | |
| Free access to Trading Central analytics and MetaTrader Genesis tools. | ||
| Low trading fees on all account types. | ||
| Low trading fees on all account types. | ||
| There are no limitations on trading strategies. | ||
| Free deposit and withdrawal of funds. | ||
| Overall Cons | Small maximum leverage of 1:30 on currency pairs. | Not regulated broker |
| There are no cent accounts. | Limited number of supported assets | |
| Low-quality support in online chat. | Weak research and education | |
| No passive income tools | ||
| High spread |
GO Markets vs HugosWay: Safety and Regulation
| Regulated By: | GO Markets | HugosWay |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
FSC |
Hugo's Way is unregulated forex broker |
GO Markets vs HugosWay: Trading Conditions
| Trading Conditions | GO Markets | HugosWay |
|---|---|---|
Minimum Deposit |
100 |
$10 |
Trading Platforms |
MetaTrader 4, MetaTrader 5 |
МТ4 |
Max Leverage (Futures) |
1:5-1:30 |
1-500 |
Supported Markets |
CFD on 50 currency pairs, CFD on commodities, indices, and metals |
Forex CFDs on Crypto, Metals, Indices, Stocks |
Trading assets |
330+ |
150+ |
Trading Accounts |
Demo, Standard, GO Plus |
Real |
Base Account Currencies |
EUR, USD, PLN, GBP, AUD, CAD, SGD, HKD, CHF, NZD, etc. |
USD |
GO Markets vs HugosWay: Fees
Forex Trading Fees
| Fee | GO Markets | HugosWay |
|---|---|---|
Standard Account EURUSD Average Spread |
1.1 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 | GO Markets | HugosWay |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | GO Markets | 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.
GO Markets vs HugosWay: Trading Assets
| Asset Name | GO Markets | HugosWay |
|---|---|---|
Overall |
330+ |
150+ |
Forex |
Yes (CFD) |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
No |
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 |
No |
No |
Binary Options |
No |
No |
GO Markets or HugosWay: Investment Programs
| Asset Name | GO Markets | HugosWay |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
Algorithmic trading |
No |
Trading Platforms: HugosWay or GO Markets
| GO Markets | HugosWay | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
No |
No |
|
|
GO Markets vs HugosWay: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | GO Markets | HugosWay |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
Yes |
GO Markets vs HugosWay: Research
| Research Type | GO Markets | HugosWay |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
No |
No |
E-Mail Reports |
No |
No |
GO Markets vs HugosWay: Education
| Education Type | GO Markets | HugosWay |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
Yes |
No |
Videos |
Yes |
Yes |
Cent account |
No |
No |
HugosWay vs GO Markets: Support
| Support Features | GO Markets | HugosWay |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
No |
Yes |
Other |
feedback form |
No |
GO Markets vs HugosWay: Forex Bonuses and Promo
| Promo | GO Markets | HugosWay |
|---|---|---|
Forex Bonus |
No |
No |
Affiliate Program |
White Labels is an offer for companies to provide brokerage services under their brand, but using GO Markets technology and liquidity. |
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 GO Markets
-
Comment
I cannot leave a positive review about GO Markets. The company does not withdraw funds. More precisely, if you want to withdraw 1000 bucks, for example, they can withdraw you, well, if you request a withdrawal, for example, 5000, they will refuse you. Such a system in this office.
-
Comment
Verification in GO Markets is so long that there is no desire to trade here at all. They require a bunch of documents, scanned copies, etc. I couldn't check in for a whole week. In the end, I got tired of all this!
-
Comment
I am satisfied with the trading conditions in GO Markets. There are brokers that offer spreads “from zero pips” with a minimum deposit of 1000 USD. But somehow I have no desire to risk that kind of money and check whether everything is really so beautiful. Reviews can also be misleading, so I chose a reliable company that fulfills its obligations to customers, and I'm not going to leave. I work on ECN mainly on the pound with a spread of 0.2 and a commission of 6 AUD per trade. Those who have worked with different brokers will agree with me that this is a normal price for quality services. Last but not least, the withdrawal request is processed within a few hours.
-
Comment
I leave my feedback on GO Markets as a whole positive. This is the first and only company I trade with. Came here back in 2017. They offer a large number of tools, there is a choice, which is good. The rules are not violated. But with all this, I wish the broker to develop, it never hurts)
-
Comment
GO Markets is a good broker. I really liked that verification, opening an account, setting up the terminal take a minimum of time. I know that for many brokers it takes a very long time. Input - no problem, output, in principle, too, but I had to wait a couple of days. I would like it faster, but I was immediately warned. I checked the broker's honesty)
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.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.