Webull vs HugosWay - Fees Review included
Which broker is better Webull or HugosWay? Our expert assessment conducted according to TU’s own methodology showed that Webull is one of the top brokers in the financial market with the TU Overall Score of 7.09 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 | Webull | HugosWay |
|---|---|---|
Overall |
3.2 |
3.3 |
5 |
1 |
|
3.4 |
3.7 |
|
3.1 |
3.5 |
|
Investment Instruments |
4.0 |
1 |
Platforms and Charting Tools |
3.1 |
3.5 |
Deposit and Withdrawal |
2.7 |
4.1 |
Research |
1.8 |
2.5 |
Education |
1.2 |
2.4 |
Support |
3.6 |
3.4 |
Bonuses |
4.1 |
1 |
|
|
Webull vs HugosWay: Pros and Cons
Webull is an American broker-dealer headquartered in New York City and is a FINRA, SIPC, NYSE, and NASDAQ member. The company was incorporated in May 2017, and in January 2018 it was already registered with the SEC. It is part of Webull Financial LLC and is licensed to carry out brokerage activities in all 50 US states. The broker offers a wide range of stock market assets, professional analytics and an intuitive trading platform with a variety of technical and fundamental analysis tools
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.
| Webull | HugosWay | |
|---|---|---|
| Overall Pros | Zero commission when trading stocks, options, and ETFs | ECN/STP technology |
| No minimum deposit requirements for brokerage and retirement (IRA) accounts | Crypto withdrawal | |
| Access to professional intelligent analytics and trading tools | Order processing speed - 150-250 ms | |
| Overall Cons | There is no support for trading in mutual funds, futures, bonds or stocks of the OTC markets | Not regulated broker |
| It doesn’t provide an opportunity to make transactions with currency pairs | Limited number of supported assets | |
| Cryptocurrency trading is available only in mobile applications | Weak research and education | |
| Replenish your account from $2,000 to trade with favorable leverage | No passive income tools | |
| High spread |
Webull vs HugosWay: Safety and Regulation
| Regulated By: | Webull | HugosWay |
|---|---|---|
US Regulation |
Yes |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
Membership in the SIPC Insurance Fund |
Hugo's Way is unregulated forex broker |
Webull vs HugosWay: Trading Conditions
| Trading Conditions | Webull | HugosWay |
|---|---|---|
Minimum Deposit |
1 USD |
$10 |
Trading Platforms |
Own platform |
МТ4 |
Max Leverage (Futures) |
1-2/1-4 |
1-500 |
Supported Markets |
Stocks, options, ETFs, ADRs, cryptocurrencies |
Forex CFDs on Crypto, Metals, Indices, Stocks |
Trading assets |
100+ |
150+ |
Trading Accounts |
Paper Account (Demo), Margin Account, Cash Account (IRA, Individual) |
Real |
Base Account Currencies |
USD |
USD |
Webull vs HugosWay: Fees
Forex Trading Fees
| Fee | Webull | HugosWay |
|---|---|---|
Standard Account EURUSD Average Spread |
Market stock spread |
0.7 pips |
Standard Account Fee |
From $0,002. for each share. There are also other fees for certain transactions |
$5 |
ECN/STP Account Fee |
Not supported |
$5 |
ECN Account EUR Average Spread |
Not supported |
0.7 pips |
CFD Trading Fees
| Fee | Webull | HugosWay |
|---|---|---|
CFD Trading Fee |
Market stock spread |
Floating spread |
Non-Trading Fees
| Fee | Webull | HugosWay |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
Yes |
No |
Withdrawal Fee |
Yes |
$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.
Webull vs HugosWay: Trading Assets
| Asset Name | Webull | HugosWay |
|---|---|---|
Overall |
100+ |
150+ |
Forex |
No |
Yes |
Stocks |
Yes |
Yes (CFD) |
Metals |
No |
Yes (CFD) |
Cryptocurrencies |
Yes |
Yes (CFD) |
Energy |
No |
Yes (CFD) |
Indices |
No |
Yes (CFD) |
ETFs |
Yes |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Webull or HugosWay: Investment Programs
| Asset Name | Webull | HugosWay |
|---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: HugosWay or Webull
| Webull | HugosWay | |
|---|---|---|
MT4 |
No |
Yes |
MT5 |
No |
No |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
Own trading platform |
No |
|
|
Webull vs HugosWay: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Webull | HugosWay |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
No |
Yes |
Crypto |
No |
Yes |
Webull vs HugosWay: Research
| Research Type | Webull | HugosWay |
|---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
No |
No |
Chart Analysis |
No |
No |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
No |
Webull vs HugosWay: Education
| Education Type | Webull | HugosWay |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
No |
No |
Videos |
No |
Yes |
Cent account |
No |
No |
HugosWay vs Webull: Support
| Support Features | Webull | HugosWay |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
No |
Yes |
Other |
No |
No |
Webull vs HugosWay: Forex Bonuses and Promo
| Promo | Webull | HugosWay |
|---|---|---|
Forex Bonus |
Flexible bonus system with the ability to receive a bonus in the form of securities in the amount of up to 1600 USD |
No |
Affiliate Program |
Yes |
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 Webull
-
Comment
The Webull broker is characterized by low-quality execution of transactions. Transactions revolve within the company. If you compare trading here with trading in other companies, the difference will be very noticeable. I do not advise.
-
Comment
I have been cooperating with Webull for the third month. It seems to me that this is a sufficient period to see all the obvious advantages and disadvantages of the company. First, about the cons, which, perhaps, only catch me. I don't like their terminal from the word "generally". It lacks tools for analysis, and performance leaves much to be desired. Another disadvantage is that access to margin trading is opened from $2,000 in the account balance. But still, I lingered here, because there are pluses: trading without spreads, increased leverage on intraday trading and a demo account for testing strategies. I don’t see a worthy replacement among competitors yet, I stay with Webull until better times.
-
Comment
I won’t complain about Webull either. My homie advised me to cooperate with this broker and I immediately checked its legal documents. It’s as clear as day, the company operates in the legal field. Trust my experience, there are a lot of scammers these days but Webull is not one of them. The broker's terminal is rock-solid, and after the last update, it became even more convenient to use it compared to before. Everything is smooth with payments and the company strives to make the process even better.
-
Comment
I opened an account with Webull a year ago, the company's experts helped to develop a strategy and decide on financial instruments. I cannot say that I am very impressed with the results, but there is an indisputable plus from our cooperation. Transactions are well protected, there is no commission for withdrawing funds from the account.
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.