Hugo’s Way vs LonghornFX

Hugo’s Way or LonghornFX – which is better for UK traders 2024? Compare Hugo’s Way and LonghornFX in this detailed breakdown of their platforms, features and fees.

Hugo's Way vs LonghornFX Comparison Table 2024
Hugo’s Way LonghornFX
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1.5
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3
Hugo's Way is ranked #97 among CFD brokers. LonghornFX is ranked #79 among CFD brokers.
Review
Review
Hugo's Way is a true ECN brokerage, offering 160+ assets on the MT4 platform. Traders benefit from a low $10 minimum deposit requirement, 24/7 customer support and generous leverage up to 1:500. Hugo's Way is an unregulated broker based offshore in St. Vincent and the Grenadines. LonghornFX is a forex and CFD broker offering over 150 instruments with leverage up to 1:500. The firm is registered in Saint Vincent and the Grenadines and was launched in 2020. Clients can access a strong selection of cryptos, alongside forex, indices, commodities and stocks. With ECN/STP processing, this offshore broker promises tight spreads and fast execution.
Pros
  • I was glad to see the MT4 platform with flexible desktop, web and mobile access, plus an unlimited demo account for those who want to practice strategies continuously
  • Experienced traders will appreciate the generous leverage up to 1:500 with no trading restrictions on strategies
  • I'm pleased with the low minimum deposit requirement of $10 (equivalent in BTC), which ideal for novice investors or those on a budget
  • I'm a fan of the 24/7 live chat alongside an email address and FAQ help section to help new traders get started quickly
  • True ECN broker
  • MetaTrader 4 platform
  • Multiple asset classes
  • Flexible leverage up to 1:500
  • Customer support is available 24/7
  • Integrated step-by-step user videos
  • Demo account with unlimited virtual funds
Cons
  • I would urge traders to be cautious since Hugo's Way is an unregulated brand, registered offshore in the Seychelles
  • I find the overall market offering is very uncompetitive compared to other brands, with only 160+ assets on offer
  • There are also no additional trading tools such as VPS or copy trading for those looking to broaden their trading experience
  • It's a shame that deposits can only be made via Bitcoin or credit/debit card with higher minimum deposit requirements for using card
  • Unregulated
  • No copy trading
  • Only one account type
  • Bitcoin withdrawals only
  • No bonuses or financial incentives
Awards
  • Best Newcomer Broker - 2020
  • Best New Forex Broker - 2020
FCA Regulated
No

List of FCA Regulated Brokers

No

List of FCA Regulated Brokers

Instruments
CFDs, Forex, Stocks, Cryptos, Futures, Commodities CFDs, Forex, Stocks, Indices, Commodities, Cryptos
Demo Account
Yes Yes
Minimum Deposit
$10 $0
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Mobile Apps
iOS & Android iOS & Android
iOS App Rating
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Android App Rating
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Margin Trading
Yes Yes
MetaTrader 4
Yes Yes
MetaTrader 5
No No
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
No No
Autochartist
No No
eSignal
No No
Trading Central
No No
STP Account
Yes Yes
ECN Account
Yes Yes
DMA Account
No Yes
MAM Account
No No
PAMM Account
No No
LAMM Account
Yes No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
No No
Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
No No
Social Trading
No No
VPS Hosting
No Yes
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Islamic Account
No Yes
Account Currencies
  • USD
  • EUR
  • GBP
Commodities
  • Natural Gas
  • Gold
  • Oil
  • Gold
  • Silver
  • Natural Gas
  • Palladium
  • Platinum
CFD
My tests found 200+ CFDs across six asset classes such as forex, crypto and stocks with leverage up to 1:500. The broker has a low minimum deposit requirement of $10 so new and budget-conscious CFD traders can get started easily. Trade a decent range of markets via CFDs, with commissions of $6 per lot. There is also a reasonable $10 minimum deposit and 24/7 customer support for new traders.
Leverage
1:500 1:500
FTSE Spread
0.77 7.7
GBPUSD Spread<
1.2 1.4
Oil Spread
0.87 0.8
Stocks Spread
Variable
Forex
Hugo's Way offers a good selection of 50+ major, minor and crosses with leverage up to 1:500 on the MT4 terminal. I was glad to see micro lot (0.01) trading available, as well as hedging, scalping and news trading strategies. Go long or short on over 50 currency pairs with spreads from 0.6 pips on EUR/USD. Traders can access market-leading forex tools in the MT4 platform, including customisable forex charts and algorithmic trading.
Assets
55 55+
GBPUSD Spread
1.2 1.4
EURUSD Spread
0.5 0.6
EURGBP Spread
0.4 1.5
Cryptocurrency
I was impressed with the 35 crypto pairs on offer 24/7 on the MT4 terminal. Some of my favorites are available including BCH/BTC, ETH/BTC and BTC/USD with leverage up to 1:100. Traders also benefit from Bitcoin deposit options, though this might feel restricting for some. An impressive selection of 35 crypto pairs are on offer, including BTC/USD and DOGE/USD. There is also high leverage up to 1:100 for experienced crypto traders, which is more than you will find at most competitors.
Spread
Variable Variable
Coins
  • BTC
  • BCH
  • BIT
  • DASH
  • DOGE
  • EDO
  • EOS
  • ETH
  • QTUM
  • ETP
  • IOTA
  • USDT
  • LTC
  • NEO
  • OMG
  • ETC
  • SAN
  • TRX
  • XMR
  • IOST
  • XRP
  • ZEC
  • BTC
  • DASH
  • ETH
  • LTC
  • BCH
  • XRP
  • NEO
  • IOTA
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Hugo’s Way LonghornFX
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