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But ultimately, it is up to the client to study risk warnings carefully to ensure they understand what they are getting into. Yes, Hugosway is a trusted broker, which you can trade in Forex, CFD, Crypto, and Commodities. It is registered in St. Vincent and the Grenadines and accepts US clients. In addition to general trading information, the insights page also boasts Hugos Way specific information about how to use their website and trading platform. If you would like to know more about scams, how to avoid them, and how to get your money back, read our Forex trading scams page.
Editorial Staff at Benstride is a team of Forex traders led by Vincent Nyagaka. We have been creating Forex tutorials since 2013, and Benstride is one the largest free Forex resource site in the industry. Hugo’s Way users can use a trading report from MetaTrader to help manage their taxes.
Trading with Hugo’ s way is also relatively safe in terms of privacy as they have plenty of security measures in place to create a safe environment for all of their clients. They also value helping and educating their clients both about the potential of a high risk of losing money, but also they teach clients on how they can trade without taking a high risk. The process is usually completed the same or next business day. Although you cannot call a broker at Hugosway directly, they make up for it by offering plenty of other customer support options for both the new and seasoned trader.
“UX Trades” and “GSL Markets” on the blacklist of European regulators [10 warnings]
The app is supported by iOS and Android OS, it has a full set of trading orders as well as analytics and technical indicators. The minimum Hugo’s Way deposit is $50 via Credit/Debit Card https://forexhero.info/ and $50 via BitCoin and $10 via VLoad. There are NO fees to withdraw the funds, however, the additional profits will incur withdrawal fees depending on the additional withdrawal method.
To transfer funds to your trading account, select “Internal Transfer” on your Hugo’s Way dashboard. You will need to have sufficient funds in your Hugo’s Wallet before you can transfer. Once your funds have been sent to the Blockchain, the status of your payment will change from WAITING_APPROVAL to WAITING_CONFIRMATION. The HugosWay live spreads page has an automatic pip calculator where you can see the spreads of every security offered. There are no withdrawal fees with Hugo’s Way, although there is a 5% fee for deposits using VLoad. The way you know a Forex broker is not a scam, is by checking their regulatory status.
Within MetaTrader, click “Account History” to view your historical trade archive. Right-click and choose the required time frame for the tax period. Withdrawals with Bitcoin and Vload have a minimum of $10 and there is no maximum withdrawal limit.
Everytime you login you go to the Google Authenticator App on your phone and get the PIN number. Yoha Securities is an Indian stock brokerage firm and a member of the National Stock Exchange of India Limited (NSE) and the Bombay Stock Exchange (BSE). Yoha Securities does not show any regulation on its website. Hugosway is a LEGIT Broker which is a registered company in St. Vincent and the Grenadines.
What is the maximum leverage in HugoFX?
You will be prompted to login to the client area which will allow you to create a new live and demo account along with making deposits and withdrawals. When we compared Hugosway vs Tradersway we found the Hugosway offers more markets whereas Trader’sWay tended to have lower fees and spreads. They are very similar when comparing trading platforms, accounts, and trading features. Despite not being regulated forex brokers, working with Hugosway has a lot of benefits. Hugosway offers trading of over 150 assets, including trading CFDs and Forex, on the MetaTrader 4 trading platform. If your Hugo’s Way account is regularly freezing, showing an “off quotes” error, or has a frozen or no connection, drop the live chat message.
Abstract：HUGO FX is a St. Vincent and the Grenadines registered online Forex and CFD broker and is not currently subject to any active regulation. This is a very simple and easy to understand commission structure. You can also trade with a smaller lot size, the commission fee will be adjusted based on the lot size selected. For example, if you decide to place a trade with 0.75 lots, you would be charged $3.75. In general, Hugosway’s way has pretty good variable spreads, with the average spread on EUR/USD being around 0.6 pips.
Every client is given wallets in USD, EUR, GBP, CAD, AUD and BTC. Money can be transferred from wallet to wallet, from wallet to MT4 account and vice versa. Bitcoin deposits are available to all clients upon registration. But, only verified clients can use other deposit methods like credit card and bank transfers.
I have dealt with them for 1 year now or more and I never have had a problem of them taking my money. ForexPeaceArmy.com has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up. We are committed to the fair handling of reviews and posts regardless of such relations. Moreover, there are several books, PDFs, and news articles online that can help you.
The broker affirms that it is a true STP broker providing clients with ECN connectivity. This means that there is no conflict of interest between the broker and trader. They have tight spreads, low commissions and fast trade execution speeds at the best possible prices with minimal slippage. They offer a good choice of over 150 assets for trading on the user-friendly MetaTrader 4 platform, including an impressive selection of over 30 cryptocurrencies.
They requested multiple selfies and when I requested them to call me, they lied and stated they tried numerous times when I did not receive a call at all from them. As a new trader my experience was horrible and I will be sure to never use them again and let others know not to use them either. They are the real deal, and they truly care about their clients. They went above and beyond to help me, and for that, I will be forever grateful. If you need help from recovering your funds from Hugo’s Way or any other type of scam, do not hesitate to contact Tesoyplus .
They are legally allowed to trade in many countries like the US, Canada, Australia, and South Africa. Hugosway is an offshore broker and is owned by the company Hugosway LTD in St Vincent and the Grenadines, a country in the Caribbean. Hugosway is a fairly new fx broker, as they have only been around since 2017. If you want to start your search from scratch, use our proprietary broker finder tool for a tailored recommendation. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. HugoFX, also called Hugo’s Way, is a legally registered broker located in Saint Vincent and the Grenadines, but not regulated by any government agencies.
Is HugosWay a safe broker?
Hugo's Way is a non-regulated online broker, registered in St. Vincent and the Grenadines. It offers mainly CFDs for trading, but stocks and cryptos are available as well. Mostly because of the lack of regulation and available financial information, we do not recommend trading with Hugo's Way.
It is a no-dealing desk (NDD) broker with only one account type. This connects you with over 50 banks and liquidity providers through STP/ECN execution. TradingBrokers.com is for informational purposes only and not intended for distribution or use by any person where it would be contrary to local law or regulation. We do not provide financial advice, offer or make solicitation of any investments.
- There is also the option of a free demo account if you want to get a feel for the broker before making a financial commitment.
- It can be downloaded from the Apple or Google play stores, completely free of charge.
- HugoFX is a Forex broker founded in 2017 in Saint Vincent and the Grenadines.
One of the last popular payment methods on Hugosway is Vload. Vload is a voucher system where you purchase a voucher, then deposit the hugofx funds into your account. To deposit Vload vouchers, there is a $10 minimum, and they are only accepted for USD or EUR deposits.
This Hugo’s Way review in 2021 will cover everything you need to know, including prices, trading hours, regulations, assets, and more. Hugo FX provide clients with a good selection of quick and easy funding options. This includes wire transfer, credit/debit card and cryptocurrency. They require proof of address and proof of identity in order to submit a deposit using wire transfer or credit/debit card. If you want even more payment options, PaxForex have a selection that includes many digital wallets. Accounts can be opened in a good range of currencies including EUR, USD, GBP, CAD, AUD, BTC.
Traders may have a risk of losing money with Hugosway as they are not a regulated broker. But, Hugosway has plenty of benefits and offers great customer service as they have 24/7 customer support team. To open a Hugos Way account, click on ‘Sign Up’ found on the topmost right hand side of the Hugos Way website. An email verification message is sent to the inputted email address. Click the link from the email to continue the account setup process. From the clients’ area, you will be able to create new live and demo accounts, make deposits and commence trading.
Although Hugo’s Way brokers only offer one trading platform, you can access MetaTrader 4 in a variety of ways such as the MT4 WebTrader, Mt4 Windows, and MAC OS desktop apps. If you prefer trading on mobile devices, Hugos Way also offers access to the MT4 mobile applications for Android and iOS devices. Finally, the broker also offers a selection of over 30 cryptocurrencies, which is much more than most other Forex brokers.
Who is the owner of HugosWay?
Hugo's Way is owned by Hugo's Way Limited which is an offshore company registered in St. Vincent and the Grenadines.
The Hugo FX portal backs into the award-winning MT4 platform which has a range of features to help with your daily market analysis and trading activities. You can customise charts to suit your own visual preferences. There is an abundance of trading tools available for analysing the markets, managing trades, setting price alerts and much more.
Which Forex broker is best for beginners?
- IG – IG web platform.
- AvaTrade – AvaTrade WebTrader.
- Capital.com – Capital.com web platform.
- eToro – eToro CopyTrader.
- Plus500 – WebTrader.
- CMC Markets – Next Generation.
- XTB – xStation 5.