Interactive Brokers vs HugosWay vs Kot4x - Fees Review included
| Feature | Interactive Brokers | HugosWay | Kot4x |
|---|---|---|---|
Overall |
4.9 |
3.3 |
3.1 |
5 |
1 |
1 |
|
4.9 |
3.7 |
4.2 |
|
5 |
3.5 |
3.5 |
|
Investment Instruments |
4.2 |
1 |
1 |
Platforms and Charting Tools |
5 |
3.5 |
3.5 |
Deposit and Withdrawal |
4.1 |
4.1 |
3.7 |
Research |
4.7 |
2.5 |
2.4 |
Education |
4.5 |
2.4 |
2.3 |
Support |
4.2 |
3.4 |
3.4 |
Bonuses |
3.1 |
1 |
4 |
|
|
|
|
Interactive Brokers vs HugosWay vs Kot4x: Pros and Cons
The biggest international broker
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.
The Kot4x Broker (kot4x.com) is an online Forex cryptocurrency and CFD broker with advanced technologies for trading on the financial markets. The company provides a secure ECN trading environment and offers over 250 trading instruments, including cryptocurrencies. Kot4x doesn’t limit trading strategies. It charges low trading fees and allows payments in bitcoins.
| Interactive Brokers | HugosWay | Kot4x | |
|---|---|---|---|
| Overall Pros | Access to 135 markets in 33 countries | ECN/STP technology | ECN STP trading model |
| 30.000+ trading instruments | Crypto withdrawal | Crypto CFDs | |
| Regulated in the US, UK and 8 other countries | Order processing speed - 150-250 ms | 20% withdrawal bonus | |
| Advanced trading platform | Funding up to $200k for pro traders | ||
| Free stocks for registration | BTC withdrawal | ||
| Low fees | |||
| Low margin rates | |||
| Nasdaq Listed company | |||
| 25 supported account currencies | |||
| Overall Cons | long and complex registration procedure | Not regulated broker | Not regulated broker |
| Limited number of supported assets | Weak research and education | ||
| Weak research and education | No passive income tools | ||
| No passive income tools | High ECN trading fees | ||
| High spread |
Interactive Brokers vs HugosWay vs Kot4x: Safety and Regulation
| Regulated By: | Interactive Brokers | HugosWay | Kot4x |
|---|---|---|---|
Max. Regulation Level |
Tier-1 |
Not regulated |
Not regulated |
Investor protection |
$500,000 £85,000 |
No |
No |
FCA UK Regulation |
Yes |
No |
No |
FINRA (U.S) |
Yes |
No |
No |
BaFin (Germany) |
No |
No |
No |
ASIC (Australia) |
Yes |
No |
No |
CFTC (U.S) |
Yes |
No |
No |
MAS |
Yes |
No |
No |
FSCA SA |
No |
No |
No |
BVI FSC |
No |
No |
No |
VFSC |
No |
No |
No |
FSA (Seychelles) |
No |
No |
No |
Interactive Brokers vs HugosWay vs Kot4x: Trading Conditions
| Trading Conditions | Interactive Brokers | HugosWay | Kot4x |
|---|---|---|---|
Minimum Deposit |
$0 |
$10 |
$25 |
Trading Platforms |
IB Trader Workstation, IBKR GlobalTrader, Client Portal |
МТ4 |
МТ4 |
Max Leverage (Futures) |
1-50 |
1-500 |
1-500 |
Supported Markets |
Stocks, Forex, ETFs, Mutual Funds, Bonds, Stock options, Commodity Futures, Currency futures, Cryptocurrencies, Robo-portfolios, hedge funds |
Forex CFDs on Crypto, Metals, Indices, Stocks |
Forex CFDs on Crypto, Metals, Indices, Stocks |
Trading assets |
30000+ |
150+ |
250+ |
Trading Accounts |
Cash account, margin account |
Real |
Standard, PRO, VAR, MINI |
Base Account Currencies |
USD, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NZD, NOK, PLN, SGD, SEK, CHF, CNH |
USD |
|
Interactive Brokers vs HugosWay vs Kot4x: Fees
| Fee | Interactive Brokers | HugosWay | Kot4x |
|---|---|---|---|
Standard acc. spread EUR/USD, min pips |
0,2 |
0,2 |
0,2 |
Standard acc. spread EUR/USD, max pips |
0,8 |
1,2 |
1,2 |
ECN Commission |
2 |
2,5 |
2,5 |
ECN Spread EUR/USD |
0,2 |
0,3 |
0,3 |
Deposit fee, % |
No |
No |
No |
Withdrawal fee, % |
Yes |
No |
No |
Withdrawal fee, USD |
Yes |
No |
No |
Inactivity fee, $ |
No |
10 |
10 |
Interactive Brokers vs HugosWay vs Kot4x: Trading Assets
| Asset Name | Interactive Brokers | HugosWay | Kot4x |
|---|---|---|---|
Overall |
30000+ |
150+ |
250+ |
Forex |
Yes |
Yes |
Yes |
Stocks |
Yes |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes |
Yes (CFD) |
Yes (CFD) |
ETFs |
Yes |
No |
No |
Bonds |
Yes |
No |
No |
Mutual funds |
Yes |
No |
No |
Stock options |
Yes |
No |
No |
Futures Trading |
Yes |
No |
No |
Binary Options |
No |
No |
No |
Interactive Brokers or HugosWay or Kot4x: Investment Programs
| Asset Name | Interactive Brokers | HugosWay | Kot4x |
|---|---|---|---|
Copy Trading |
No |
No |
No |
MAM/PAMM |
No |
No |
No |
Managed Accounts |
No |
No |
No |
Other |
Robo-portfolios, hedge funds, Bonds |
No |
No |
Trading Platforms: Interactive Brokers or HugosWay or Kot4x
| Interactive Brokers | HugosWay | Kot4x | |
|---|---|---|---|
MT4 |
No |
Yes |
Yes |
MT5 |
No |
No |
No |
cTrader |
No |
No |
No |
Appropriate platform |
IB Trader Workstation, IBKR GlobalTrader, Client Portal |
No |
No |
Others |
No |
No |
No |
|
|
|
|
Interactive Brokers vs HugosWay vs Kot4x: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Interactive Brokers | HugosWay | Kot4x |
|---|---|---|---|
Bank Wire |
Yes |
Yes |
Yes |
Bank Card |
No |
Yes |
Yes |
Neteller |
No |
No |
No |
BTC |
No |
Yes |
Yes |
Wise |
Yes |
No |
No |
Payoneer |
No |
No |
No |
USDT |
No |
No |
No |
Interactive Brokers vs HugosWay vs Kot4x: Research
| Research Type | Interactive Brokers | HugosWay | Kot4x |
|---|---|---|---|
News Feed |
Yes |
Yes |
Yes |
Fundamental Data |
Yes |
No |
No |
Chart Analysis |
Yes |
No |
No |
Trading Ideas |
No |
No |
No |
E-Mail Reports |
Yes |
No |
No |
Interactive Brokers vs HugosWay vs Kot4x: Education
| Education Type | Interactive Brokers | HugosWay | Kot4x |
|---|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Yes |
Webinars |
Yes |
Yes |
No |
Articles |
Yes |
No |
Yes |
Videos |
Yes |
Yes |
No |
Cent account |
No |
No |
No |
Interactive Brokers vs HugosWay vs Kot4x: Support
| Support Features | Interactive Brokers | HugosWay | Kot4x |
|---|---|---|---|
Working Days |
24/5 |
24/5 |
24/5 |
Yes |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Yes |
Online chat |
Yes |
Yes |
Yes |
Other |
Community forum, Software bug reports |
No |
No |
Interactive Brokers vs HugosWay vs Kot4x: Forex Bonuses and Promo
| Promo | Interactive Brokers | HugosWay | Kot4x |
|---|---|---|---|
Forex Bonus |
No |
No |
20% withdrawal bonus |
Affiliate Program |
As Referrer you can earn up to USD 1000 of IBKR stock. The Refer a Friend program allows eligible IBKR clients to refer people to IBKR for a flat fee payment. Residents of Japan, Spain and Israel are not eligible to participate in the program. |
Yes |
Yes |
|
|
|
|
Top 5 Reviews on Interactive Brokers
-
Comment
What stands out for me with Interactive Brokers is their mobile app. I use the IBKR Mobile app a lot when I’m not at my desk, and it offers pretty much the same experience as the desktop version. The ability to trade everything from stocks to options while on the go is a huge plus. It also has features for international trading, which makes it easy for me to handle trades across multiple markets. The app’s interface is straightforward and user-friendly, allowing me to monitor my portfolio, execute trades, and even access research tools seamlessly. While it might lack some advanced charting features, it’s still one of the most versatile apps I’ve used, especially for global traders like me
-
Comment
I am a client of interactivebrokers and I have never faced any problems during the whole time. I am completely satisfied with the service: the staff is always friendly, responsive and ready to help, which really leaves a good impression. Special thanks to the operators - their attentive attitude to people creates a feeling of care and support. It is a pleasure to work with a company that values its customers and does everything for comfortable service!
-
Comment
As far as my experience is concerned with Interactive Brokers, the thing I love most is the sheer variety of markets available. The GlobalTrader app lets me trade in over 90 different markets, which is super convenient for someone like me who likes to diversify. The interface might feel overwhelming at first, especially on Trader Workstation, but once you get the hang of it, it’s extremely powerful. I also appreciate the competitive pricing and order options that help keep my trading costs low.
-
Comment
Interactive brokers offer a huge variety of trading instruments, which is certainly pleasing. The opportunities for trading and diversification here are excellent. However, there is one minus - the website interface is only partially translated into other languages, and it is a bit disappointing. It would be more convenient if the whole platform was available in different languages, especially for traders who do not speak English.
-
Comment
Interactive Brokers provides access to 135 markets from 33 countries, which is a huge advantage. This allows traders to easily diversify their portfolios and find opportunities around the world. I am very pleased with this broad coverage and the ability to trade in a multitude of international markets.
Top 5 Reviews on HugosWay
-
Comment
Hugo's Way offers trading via MT4 and supports both demo and live accounts. I personally tested trading with the $50 minimum deposit — orders are executed quickly with no slippage. Available assets include currency pairs, cryptocurrencies, commodities, and stock indices. No deposit or withdrawal fees is a plus, though the limited number of payment methods — only four options — is a drawback. It’s also worth noting that Hugo's Way is not regulated by Tier-1 authorities, which may be a concern for more conservative traders.
-
Comment
Hugo’s Way trading conditions suit those who prefer small deposits — the minimum entry is only $10. This allows you to test the platform and evaluate the MT4 terminal with minimal risk. The EUR/USD spread starts from 0.3 pips, which is quite competitive, but it’s worth noting that spreads can widen significantly during high volatility. The broker offers leverage up to 1:500 and supports cryptocurrencies, which sets it apart from companies with a narrower focus. However, the selection of instruments is not as wide as with larger brokers.
-
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.
Top 5 Reviews on Kot4x
-
Comment
Kot4x stands out for its focus on crypto-oriented traders — it offers deposits and withdrawals in Bitcoin and supports cryptocurrency trading. The TradeLocker platform allows for both web and mobile trading, making it convenient to operate from different devices. However, the lack of technical analysis tools and high withdrawal fees (up to 20%) may not suit those who make frequent transactions. Additionally, there is no information about liquidity providers or the existence of an insurance fund guarantee.
-
Comment
Trading with Kot4x is suitable for those who are looking for flexibility - Standard, Mini, VAR and Pro Pairs accounts are available, as well as the possibility to work with leverage from 1:50 to 1:500. The minimum lot is 0.01, which is convenient for micro trading. Depositing and withdrawing funds is possible both in dollars and in cryptocurrency, including Bitcoin. Nevertheless, the broker does not provide analytics, training materials and does not declare the availability of liquidity providers, which is important to consider when choosing.
-
Comment
Kot4x offers a wide range of trading instruments — from currency pairs to cryptocurrencies, stocks, metals, and commodities. The minimum deposit of just $10 for Mini Pairs accounts makes the broker accessible to beginners. At the same time, the spread on the EUR/USD pair starts from 0.2 pips, which is a competitive figure. However, the absence of PAMM accounts and copy trading services limits opportunities for passive income. It’s also worth noting that regulation is provided solely by the SVG FSA, which corresponds to a Tier-3 level.
-
Comment
I do not agree with many negative reviews of kot4x. There are nuances and shortcomings, as everywhere else. However, you should not report deception or fraud on the part of the broker. I myself trade with two companies, one of which is kot4x. I withdrew my profits many times, and they sent the money to me. So this is definitely not a scam.
-
Comment
The company Kot4x has problems with withdrawing to the electronic wallet, they said that the wallet is not in my name, even though this wallet was verified by me. It's nonsense because I funded the account from it! Tried to withdraw only $70, they won't allow it. Looks like Kot4x is a scam! Or they have technical problems with the software.
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.
Related Articles
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.