Avatrade vs Hugo’s Way

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

AvaTrade vs Hugo's Way Comparison Table 2024
AvaTrade Hugo’s Way
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4.9
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1.5
AvaTrade is ranked #91 among CFD brokers. Hugo's Way is ranked #91 among CFD brokers.
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AvaTrade has closed or no longer accepts UK clients.
Established in 2006, AvaTrade is a leading forex and CFD broker trusted by over 400,000 traders. Operating under regulation in 9 jurisdictions, AvaTrade processes an impressive 2+ million trades each month. Through like MT4, MT5, and its proprietary WebTrader, the broker provides a growing selection of 1,250+ instruments. Whether it’s CFDs, AvaOptions, or the more recent AvaFutures, short-term traders at all levels will find opportunities. With terrific education and 24/5 multilingual customer support, AvaTrade delivers the complete trading experience. 		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.
Pros
  • AvaTrade continues to enhance its suite of products, recently through AvaFutures, providing an alternative vehicle to speculate on over 35 markets with low trading margins.
  • The WebTrader excelled in our hands-on tests, sporting a user-friendly interface for beginners, complete with robust charting tools like 6 chart layouts and 60+ technical indicators.
  • Years on, AvaTrade remains one of the few brokers offering a bespoke risk management tool, AvaProtect, that insures losses up to $1M for a fee and is easy to activate on the platform.
  • Support at AvaTrade performed excellently during testing, with response times of 3 minutes and localized support in major trading jurisdictions, including the UK, Europe and the Middle East.
  • 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
Cons
  • AvaTrade’s WebTrader has improved, but work is still needed in terms of customizability – frustratingly widgets like market watch and watchlists can’t be hidden, moved, or resized.
  • While signing up is a breeze, AvaTrade lacks an ECN account like Pepperstone or IC Markets, which provides the raw spreads and ultra-fast execution many traders are looking for.
  • Although the deposit process itself is smooth, AvaTrade still doesn’t facilitate crypto payments, a feature increasingly offered by brokers like TopFX, which caters to crypto-focused traders.
  • The AvaSocial app is good but not great – the look and feel, plus the navigation between finding strategy providers and account management needs upgrading to rival category leaders like eToro.
  • 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
Awards
  • Best Mobile Trading Platform 2023 - Finance Derivative
  • Best Educational 2023 - Global Business Magazine
  • Best Overall Broker 2022 - DayTrading.com
  • Best Trading App 2021 - DayTrading.com
  • Best Forex Broker 2019 - DayTrading.com
FCA Regulated
No No

List of FCA Regulated Brokers

Instruments
CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures CFDs, Forex, Stocks, Cryptos, Futures, Commodities
Demo Account
Yes Yes
Minimum Deposit
$100 $10
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM, CIRO, AFM
Mobile Apps
iOS & Android iOS & Android
Trading App

AvaTradeGO consistently impresses with its comprehensive mobile trading experience, boasting an interface that’s not just easy to use, but genuinely intuitive. Navigating the app is a breeze, ensuring fast access to hundreds of markets, including forex, stocks, indices, commodities, ETFs, and bonds. However, what sets AvaTradeGO apart is its AvaProtect™ feature, offering an unmatched level of risk protection that’s rare to find elsewhere.
iOS App Rating
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4.3
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Android App Rating
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4
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Margin Trading
Yes Yes
Margin Rate
2%
MetaTrader 4
Yes Yes
MetaTrader 5
Yes No
cTrader
No No
AlgoTrader
Yes No
OmniTrader
No No
TradingView
No No
Autochartist
No No
eSignal
No No
Trading Central
Yes No
STP Account
Yes Yes
ECN Account
No Yes
DMA Account
Yes No
MAM Account
Yes No
PAMM Account
Yes No
LAMM Account
No Yes
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes No
Market Maker
Yes No
P2P Trading
No No
Spot Trading
Yes No
Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes No
Copy Trading Platform
AvaTrade maintains a top position when it comes to social and copy trading tools. Traders can access the proprietary AvaSocial app as well as popular third-party platforms, DupliTrade and ZuluTrade. The comprehensive performance metrics can help you find the right strategy provider for your goals and risk appetite.
Social Trading
Yes No
Trade Signals
Yes
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$50
Islamic Account
Yes No
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
Commodities
  • Gold
  • Oil
  • Silver
  • Copper
  • Cotton
  • Corn
  • Coffee
  • Sugar
  • Gasoline
  • Palladium
  • Cocoa
  • Wheat
  • Precious Metals
  • Platinum
  • Natural Gas
  • Soybeans
  • Lithium
  • Cannabis
  • Natural Gas
  • Gold
CFD
AvaTrade's 1250+ leveraged CFD products span a wide range of asset classes including stocks, indices, commodities, bonds, crypto, and ETFs. What we love is that you can speculate on rising and falling prices in the broker’s feature-rich web and mobile platforms with market-leading research tools to help you discover short-term trading opportunities. 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.
Leverage
1:30 (Retail) 1:400 (Pro) 1:500
FTSE Spread
0.5 0.77
GBPUSD Spread<
1.5 1.2
Oil Spread
0.02 0.87
Stocks Spread
0.13
Forex
AvaTrade delivers 50+ currency pairs with tight spreads from 0.9 pips and zero commissions. Trade majors, minrs, and exotics 24/5 on leading forex platforms, notably MT4, with sophisticated charting tools and forex education to sharpen your edge, including a dedicated guide to 'Currency Trading'. 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.
Assets
50+ 55
GBPUSD Spread
1.5 1.2
EURUSD Spread
0.9 0.5
EURGBP Spread
1.5 0.4
Currency Indices
  • USD
Cryptocurrency
Regulated in five continents, AvaTrade offers a secure way to access crypto markets. There's a growing range of digital currencies including Bitcoin, Ethereum and Ripple, plus more unusually, a crypto index for diversified exposure. You can also access competitive crypto spreads in the broker's three platforms as well as 1:2 leverage. 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.
Spread
BTC <1%, ETH 2% Variable
Coins
  • BCH
  • BTC
  • BTG
  • ETH
  • LTC
  • XRP
  • EOS
  • DASH
  • BTC
  • BCH
  • BIT
  • DASH
  • DOGE
  • EDO
  • EOS
  • ETH
  • QTUM
  • ETP
  • IOTA
  • USDT
  • LTC
  • NEO
  • OMG
  • ETC
  • SAN
  • TRX
  • XMR
  • IOST
  • XRP
  • ZEC
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
AvaTrade Hugo’s Way
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