HugosWay review: Is Hugo FX a legit or scam broker?

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.

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 .

Demo Account

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.

It is also worth mentioning that Forex trading is actually prohibited in India. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here. It is not safe to trade with Hugo’s Way, as it is unregulated. Hugo’s Way is owned by Hugo’s Way Limited which is an offshore company registered in St. Vincent and the Grenadines.

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.

HFM (HF Markets) Review 2023

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 were also very prompt and we didn’t have to wait very long at all. We also used the chat function and were able to chat with a real person and not a bot relatively quickly. If you work with a broker, you may be worried about what trading fees you have to pay, and if your accounts lose money, you may be less likely to work with a broker. Fortunately, Hugos Way has little to no fees depending on your payment method when withdrawing and depositing money. You don’t need to worry about whether your accounts lose money or not. The good news is that Hugos Way trading instruments are not limited as they offer over 150 trading instruments.

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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.

• If you want to start your search from scratch, use our proprietary broker finder tool for a tailored recommendation.
• For example, if you decide to place a trade with 0.75 lots, you would be charged $3.75.
• There are help guides on how to buy Bitcoin, understanding the markets and much more.
• They allow clients from countries including the USA, Canada, Australia, South Africa, Nigeria, and Argentina.

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.

Leverage

If you see an “invalid account” error, this is usually due to password or server selection. Make sure you have entered the trader password and not the investor password on MT4 if you want to make a trade. Check out the broker’s support section for more information on API and servers. The customer service team can also be contacted at the email address below, though no phone number is provided.

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 hugofx 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.

Is HugosWay Regulated?

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.

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.

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.

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.

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 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.

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.

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.

One of the last popular payment methods on Hugosway is Vload. Vload is a voucher system where you purchase a voucher, then deposit the https://forexhero.info/ funds into your account. To deposit Vload vouchers, there is a $10 minimum, and they are only accepted for USD or EUR deposits.