Hugo’s Way vs OspreyFX

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

Hugo's Way vs OspreyFX Comparison Table 2024
Hugo’s Way OspreyFX
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1.5
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3
Hugo's Way is ranked #91 among CFD brokers. OspreyFX is ranked #53 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. OspreyFX is an ECN broker headquartered in St. Vincent and the Grenadines. Established in 2019, the firm offers 120+ forex and CFD assets with high leverage up to 1:500, tight spreads from 0.1 pips and round-the-clock customer support. OspreyFX also stands out for its funded trading accounts where traders can keep up to 70% of profits.
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
  • OspreyFX stands out with its funded account program, providing traders who can prove their skills with $200K and attractive profit splits, providing a fresh avenue to grow trading balances.
  • This broker’s execution model facilitates fast order executions with low latency and competitive, real-time pricing sourced from over 50 banks with spreads averaging 0.1 pips on EUR/USD.
  • OspreyFX offers an excellent selection of third-party platforms (MT4, MT5 and TradingView), especially compared to rival unregulated brokers, catering to day taders looking for advanced charting features and risk management tools.
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
  • Despite offering 24/7 support, we encountered multiple issues during testing, especially when trying to connect to an agent on chat to enquire about forex trading conditions.
  • OspreyFX may have a professional looking website but there’s no escaping the fact it’s based offshore in St Vincent and the Grenadines, providing weak investor safeguards with no negative balance protection.
  • The around 120+ tradable assets is woeful, with a reasonable selection of currency pairs but a terrible suite of EU and US shares especially that make this broker unsuitable for serious stock traders.
FCA Regulated
No

List of FCA Regulated Brokers

No

List of FCA Regulated Brokers

Instruments
CFDs, Forex, Stocks, Cryptos, Futures, Commodities Forex, Cryptos, Indices, Stocks, Commodities
Demo Account
Yes Yes
Minimum Deposit
$10 $10
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Mobile Apps
iOS & Android iOS & Android
Trading App

The Forex Squad app is a free education tool with beginner-friendly training and content on a range of topics, including fundamental analysis, forex strategy and trading psychology. The app is free to download.
iOS App Rating
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Android App Rating
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2.2
Margin Trading
Yes Yes
MetaTrader 4
Yes Yes
MetaTrader 5
No Yes
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 No
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 No
Tournaments
No Yes
Demo Competitions
No Yes
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Islamic Account
No Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
Commodities
  • Natural Gas
  • Gold
  • Gold
  • Silver
  • Natural Gas
  • Oil
  • Copper
  • 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. OspreyFX offers leveraged CFDs on forex, commodities, stocks, cryptos and indices. Deep liquidity is available from 50+ providers with a competitive ECN account that will suit active trading strategies, including scalping.
Leverage
1:500 1:500
FTSE Spread
0.77 0.5 pts
GBPUSD Spread<
1.2 0.8 pips
Oil Spread
0.87 0.09 pips
Stocks Spread
0.4 pips
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. OspreyFX offers more than 50 major, minor and exotic currency pairs. Spreads start from just 0.1 pips on the EUR/USD and the broker provides a suite of forex trading education for beginners, including partnering with Forex Squad for fresh insights.
Assets
55 55+
GBPUSD Spread
1.2 0.8
EURUSD Spread
0.5 0.5
EURGBP Spread
0.4 0.8
Currency Indices
  • USD
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. OspreyFX offers a decent selection of crypto coins paired with USD, including Bitcoin. 1:10 leverage is available with starting deposits from just $10 and support for Expert Advisors (EAs).
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
  • EDO
  • EOS
  • ETH
  • IOTA
  • LTC
  • NEO
  • OMG
  • SAN
  • XMR
  • XRP
  • ZEC
  • DOGE
  • SHIB
  • ADA
  • SOL
  • DOT
  • AVA
  • XLM
  • TRON
  • ETC
  • BNB
  • BCH
  • BAT
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Hugo’s Way OspreyFX
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