The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here. Due to the regulation and safety issues, we found during our research of Hugo’s Way, we do not rank positively Hugo’s Way, based on our Expert Opinion with over 10 Years of experience in Forex Trading. Sign up and start trading on one of the world’s most transparent brokerages. Trade your favourite FX and Crypto Pairs on an MT4 platform backed by true ECN connectivity. Retail access to forex trading is only about a decade old so not sure how one can operate for multiple decades. As a new trader, you want as much protection as possible from external factors outside of your control.

Besides the desktop trading platform, HugosWay provides MT4 for mobile devices as well. Additionally, the platform is available for iOS and Android and has a complete set of trading orders along with analytical and technical indicators. Depending on your preferences, you can choose to have an MT4 app for Windows, Mac, or mobile devices. On the other hand, if you want to use something more simple, however less secure, you can try the company’s web trader. Beware of the HugosWay trading scam and notify us if you notice any trades you haven’t opened yourself. Editorial Staff at Benstride is a team of Forex traders led by Vincent Nyagaka.

Seeing that they offered this song with a lot of crypto pairs made it an easy switch. Leverage offered is good as well so didn’t need to sacrifice that. They have plenty of markets to trade, ranging from Forex, Crypto and Stocks. Their withdrawal system is on point too – you can get your money the same day.

• Global Fraud Protection received numerous complaints from HugoFX victims and helped them file a dispute.
• However, it’s less secure than the MT4 app and has fewer charts and indicators.
• If they want to modify or close orders, they can also do that on the go via the mobile app.
• Hugo’s Way offers unlimited MT4 Demo Accounts to its clients.
• They also do not have any promotions or trading contests.

Unlike other online brokers, Hugos Way trading tools are quite limited beyond the daily market analysis and trading activities that MetaTrader 4 offers. There is no market news, economic calendars, or analytics available to access. In addition to the limitations, Hugosway regulates its payment service as traders can enableTwo Factor Authentication with an authentication app or a verified phone number over SMS. The 2FA is meant to provide additional security to traders’ money. Probing their customer service, we found an email address and a live chat function, but our questions submitted via chat didn’t yield any relevant information or answers. Another warning sign is that there is no phone number to ring in case of emergency.

Detailed HugosWay Review (Updated

Find the trading conditions great to use with decent spreads and rates. I’ve never been given cause to worry that I can’t withdraw and have removed my whole balance on a few occasions when I needed to. I’ve revisited my Hugosway account for the past 6 months. The server speeds are super fast now, with no drops in the markets during volatile times.

Besides, there’s a hugofx of opposite information on the website, and the broker offers affiliate MLM programs, a favorite scam tool of illicit companies. It is possible to make money by becoming a Hugo’s Way referral partner through their affiliate program. Simply sign in to HugosWay and click on “refer a friend”. By referring your friends, you can earn up to $2 per lot traded by your referee. If your friends also refer their friends, their follower’s accounts will become sub-affiliates and you will earn from them too.

Does HugosWay Provide Tax Statements Or 1099?

https://forexhero.info/ 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. 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. Withdrawals with credit or debit cards on Hugos way will be processed on the same business day. The profits you made while trading can be withdrawn with a bank transfer or Bitcoin, but the original funds that you deposited can only be withdrawn to the original card you used.

I’m often too busy during week days so weekend trading is a big plus for me . And I have to say, I’ve found them to be reliable and costumer service is great if there are ever any problems, which there haven’t been many. I always recommend them to anybody who has ever asked. Hugo’s Way is owned by Hugo’s Way Limited which is an offshore company registered in St. Vincent and the Grenadines. Hugo’s Way regularly pinpoints, analyses, monitors and regulates each type of risk connected with its day-to-day operations. Trading with high leverage is how you blow your account.

If you like price spam you’ll love hugosway!

Make sure you test Live Chat and ask several questions to ensure that a qualified crew is on hand in case of an emergency. If email or contact form is only means of communication with the broker, expect to wait at least 24 hours for a response. Hugo’s Way’s high leverage options, a wide range of assets, and functionality on the MT4 platform make it an attractive choice. However, traders should be aware of high commission costs and other charges, like swap fees. If you do, however, have a lot of experience with trading cfds or Forex and are willing to take the high risk of losing, working with this broker could be a good idea for you. Hugo’s way brokers offer over 150 tradable assets available, 24/7 customer support, and all types of traders are welcome to trade with this broker.

Be advised that we have implemented some new security measures, to ensure that our client’s funds are safe when in our hands, and when passed on to the client upon request. It goes against our guidelines to offer incentives for reviews. We also ensure all reviews are published without moderation.

It is important to choose a broker who provides a variety of account types. It is a no-dealing desk broker with only one account type. This connects you with over 50 banks and liquidity providers through STP/ECN execution. After some not so good brokers that I tried for specifically trading crypto I came across Hugosway and have not been disappointed. Been trading with them now for 2 years and really impressed with the service they offer. Took advantage of the high crypto leverage, variety of the pairs to trade and being able to trade 24/7 was a win win compared to other brokers..

You’re one step closer to having a successful trading experience once you’ve selected a broker. Moreover, HugoFX broker offers commissions for all those who act as their affiliates and bring new clients. Allegedly, the company provides weekly payouts to anyone willing to bring a friend or a family member. If this sounds familiar, just remember the good old Ponzi scheme or multi-level marketing.

Vload is a voucher system where you purchase a voucher, then deposit the funds into your account. To deposit Vload vouchers, there is a $10 minimum, and they are only accepted for USD or EUR deposits. The good thing about using Vload vouchers is that there are no transaction fees, and your funds will be processed instantly.

Hugo’s Way has a rating of 4.32 stars from 19 reviews, indicating that most customers are generally satisfied with their purchases. If you are currently investing at HugosWay, please share your experience withdrawing your money, in the comments section. There are so many Forex brokers to compare and choose from online, look here. All along there were red flags such as their lack of regulation, no phone, and their shifting funding methods. I thought their dropping of the bank wire option was to avoid the US regulatory regime but now I think it’s just one more indication to run from these guys. Currently you can fund with Bitcoin, credit/debit via Instacoins, or VLoad.

Crypto CFDs are derivatives, and due to the availability of leverage nowadays crypto CFD trading is becoming increasingly popular alongside Forex trading over the past few years. It allows you to speculate on cryptocurrency price movements without buying the underlying coins. The introduction of the First In, First Out Rule completely removed the ability to hedge currency pairs.