Quotex vs HugosWay vs Kot4x - Fees Review included
| Feature | Quotex | HugosWay | Kot4x |
|---|---|---|---|
Overall |
2.8 |
3.3 |
3.1 |
1 |
1 |
1 |
|
3.3 |
3.7 |
4.2 |
|
3.1 |
3.5 |
3.5 |
|
Investment Instruments |
1 |
1 |
1 |
Platforms and Charting Tools |
3.9 |
3.5 |
3.5 |
Deposit and Withdrawal |
4.6 |
4.1 |
3.7 |
Research |
1.5 |
2.5 |
2.4 |
Education |
2.3 |
2.4 |
2.3 |
Support |
3.0 |
3.4 |
3.4 |
Bonuses |
3.8 |
1 |
4 |
|
|
|
|
Quotex vs HugosWay vs Kot4x: Pros and Cons
QUOTEX is a broker specializing in binary options trading. The company was established in 2019. Its clients can trade currencies, metals, oil, cryptocurrencies, stock indices and earn a profit of up to 90% of the value of the option. QUOTEX has developed a proprietary trading platform which is easily customized, supports 29 technical indicators and allows investments from USD 10. The broker’s team provides support 24/7. Personal and payment information of the clients are protected with two-factor authentication
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.
| Quotex | HugosWay | Kot4x | |
|---|---|---|---|
| Overall Pros | Affordable minimum investment amount – USD 10 | ECN/STP technology | ECN STP trading model |
| No trading fees and no deposit, withdrawal and account fees | Crypto withdrawal | Crypto CFDs | |
| Algorithmic trading is technically impossible | Order processing speed - 150-250 ms | 20% withdrawal bonus | |
| Funding up to $200k for pro traders | |||
| BTC withdrawal | |||
| Overall Cons | No Regulatory License | 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 |
Quotex vs HugosWay vs Kot4x: Safety and Regulation
| Regulated By: | Quotex | HugosWay | Kot4x |
|---|---|---|---|
US Regulation |
No |
No |
No |
FCA (Great Britain) |
No |
No |
No |
CySec (Cyprus, EU) |
Yes |
No |
No |
ASIC (Australia) |
No |
No |
No |
Other Regulators |
No |
Hugo's Way is unregulated forex broker |
Kot4X is unregulated forex broker |
Quotex vs HugosWay vs Kot4x: Trading Conditions
| Trading Conditions | Quotex | HugosWay | Kot4x |
|---|---|---|---|
Minimum Deposit |
$10 |
$10 |
$25 |
Trading Platforms |
Own platform |
МТ4 |
МТ4 |
Max Leverage (Futures) |
Not provided technically |
1-500 |
1-500 |
Supported Markets |
Currencies, raw materials, stocks |
Forex CFDs on Crypto, Metals, Indices, Stocks |
Forex CFDs on Crypto, Metals, Indices, Stocks |
Trading assets |
80+ |
150+ |
250+ |
Trading Accounts |
Single account for binary options trading |
Real |
Standard, PRO, VAR, MINI |
Base Account Currencies |
USD, EUR, GBP, BRL, IDR, MYR, INR, KZT, RUB, THB, UAH, VND, NGN, MXN, EGP |
USD |
|
Quotex vs HugosWay vs Kot4x: Fees
Forex Trading Fees
| Fee | Quotex | HugosWay | Kot4x |
|---|---|---|---|
Standard Account EURUSD Average Spread |
The reward depends on the type of asset and the situation at the time of the transaction. The amount of remuneration - 15-90% of the investment amount |
0.7 pips |
1.6 pips |
Standard Account Fee |
$0 |
$5 |
$0 |
ECN/STP Account Fee |
Not supported |
$5 |
$7 |
ECN Account EUR Average Spread |
Not supported |
0.7 pips |
0.5 pips |
CFD Trading Fees
| Fee | Quotex | HugosWay | Kot4x |
|---|---|---|---|
CFD Trading Fee |
Reward - 15-90% |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Quotex | HugosWay | Kot4x |
|---|---|---|---|
Account Fee |
No |
No |
No |
Deposit Fee |
No |
No |
No |
Withdrawal Fee |
No |
$25 |
No for BTC withdrawal |
Inactivity Fee |
No |
no |
Quotex vs HugosWay vs Kot4x: Trading Assets
| Asset Name | Quotex | HugosWay | Kot4x |
|---|---|---|---|
Overall |
80+ |
150+ |
250+ |
Forex |
Yes |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
No |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
No |
No |
Bonds |
No |
No |
No |
Mutual funds |
No |
No |
No |
Stock options |
No |
No |
No |
Futures Trading |
No |
No |
No |
Binary Options |
No |
No |
No |
Quotex or HugosWay or Kot4x: Investment Programs
| Asset Name | Quotex | HugosWay | Kot4x |
|---|---|---|---|
Copy Trading |
No |
No |
No |
MAM/PAMM |
No |
No |
No |
Managed Accounts |
No |
No |
No |
Other |
No |
No |
No |
Trading Platforms: Quotex or HugosWay or Kot4x
| Quotex | HugosWay | Kot4x | |
|---|---|---|---|
MT4 |
No |
Yes |
Yes |
MT5 |
No |
No |
No |
cTrader |
No |
No |
No |
Appropriate platform |
No |
No |
No |
Others |
Own trading platform |
No |
No |
|
|
|
|
Quotex vs HugosWay vs Kot4x: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Quotex | HugosWay | Kot4x |
|---|---|---|---|
Bank Transfer |
No |
Yes |
No |
Credit/Debit Card |
Yes |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
No |
Crypto |
Yes |
Yes |
Yes |
Quotex vs HugosWay vs Kot4x: Research
| Research Type | Quotex | HugosWay | Kot4x |
|---|---|---|---|
News Feed |
No |
Yes |
Yes |
Fundamental Data |
No |
No |
No |
Chart Analysis |
No |
No |
No |
Trading Ideas |
Yes |
No |
No |
E-Mail Reports |
No |
No |
No |
Quotex vs HugosWay vs Kot4x: Education
| Education Type | Quotex | HugosWay | Kot4x |
|---|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Yes |
Webinars |
No |
Yes |
No |
Articles |
No |
No |
Yes |
Videos |
No |
Yes |
No |
Cent account |
No |
No |
No |
Quotex vs HugosWay vs Kot4x: Support
| Support Features | Quotex | HugosWay | Kot4x |
|---|---|---|---|
Working Days |
24/7 |
24/5 |
24/5 |
No |
Yes |
Yes |
|
Phone |
No |
Yes |
Yes |
Online chat |
No |
Yes |
Yes |
Other |
Feedback form |
No |
No |
Quotex vs HugosWay vs Kot4x: Forex Bonuses and Promo
| Promo | Quotex | HugosWay | Kot4x |
|---|---|---|---|
Forex Bonus |
Welcome bonus 30% when opening a real account. Cashback, bonus for using "deal cancellation" |
No |
20% withdrawal bonus |
Affiliate Program |
Yes. Payouts up to 80% of income or up to 7% of referral turnover |
Yes |
Yes |
|
|
|
|
Top 5 Reviews on Quotex
-
Comment
Probably the best trading platform out there, saying this because I've used alot,the user interface is just superb couple with the simplicity, it's just too good,try it out you won't regret
-
Comment
I've been using Quotex for a while now and I'm comfortable with the platform. It's user-friendly and intuitive, which makes the registration process easy. The variety of assets available for trading is exciting, and trading operations have been smooth. I highly recommend it to anyone looking for a reliable app. Deposits and withdrawals are fast and trouble-free, which reassures me that I can easily deposit funds and withdraw profits quickly.
-
Comment
After a year with Quotex, I think it's a decent platform. I mainly trade EUR/USD and EUR/GBP through mt4, and the charts match up perfectly with Quotex's platform, no choppiness or unpredictability issues, unlike other brokers. Also, there's no sketchy stuff going on from what I can tell. You just need to put in the work studying the markets. My process is analyzing on mt4, then quickly executing trades on Quotex. So far my win rate is over 80%. I always test new strategies on the demo account first before going live. I started with just $100 and have grown it to $506 by actually understanding the fundamentals instead of blindly following indicators. While trading always carries risk, Quotex seems legit based on how it matches pricing across platforms.
-
Comment
Quotex is so far the fastest binary broker to navigate through and load, lightest and most convenient with deposits and withdrawals as it offers a wide number of payment options which makes it easy to use from any country in the world as per my experience from a couple of months using it. Quotex also has the fastest withdrawals as per my experience. It has a good looking interface too which doesn't bore or cause eye straining to the user, so you can stay before your screen for a very long time without disturbance. With Quotex, you can trade anywhere since it is very compatible with smartphones. Anyone who trades wisely (with patience, analysis and with no greed) is very more likely to grow financially. Hence I rate Quotex 5 stars!
-
Comment
Quotex platform is user friendly, easy to trade, simple view with Options quite clear for better understanding for beginners as well. Almost all the valuable currency pairs are available with commodities. Even the indicators sections have a variety of options. One of the best things I have found is deposits and withdrawals are fast.
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 Kot4x
-
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.
-
Comment
I didn't like the Kot4x company. Despite not having a lot of experience, even I understand that their trading conditions are unfavorable. Moreover, there are frequent disruptions in the terminal, and I have to constantly reload it throughout the trading day. This speaks volumes. In general, I'm switching from Kot4x to another broker. I wouldn't recommend this one for trading.
-
Comment
The broker Kot4x is far from transparent in its conditions. For example, the company's website states that clients are provided with an ECN account. However, the ECN system implies instant order execution without any delays. In the Kot4x terminal, orders are opened for several minutes. The last time, my order took six minutes to process. This is very long, and I had to close this order with a significant loss. Trading and making a profit under such conditions is impossible.
-
Comment
Kot4x is very dubious and it seems that its main goal is to make traders lose their deposits. I opened an account with this broker and quickly lost my deposit. When I decided to withdraw the remaining funds, the process took more than three weeks. It was awful and nerve-wracking. Therefore, I always advise you to avoid Kot4x!
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.