Hugos Way offers a generous selection of over 150 trading instruments. The broker offers major forex pairs, forex crosses and forex exotics. Also there are cryptos, metals, indices, stocks, futures and energy instruments. Whatever you like to trade, there is something for everyone.
In 2 years with them this has been their “go-to guarantee” every time you’re in an open position! Hugo’s Way has one account type, which uses an ECN/STP brokerage model. This means that all orders are sent directly to the liquidity provider to be filled. If you reach 100%, you get a margin call and you will not be able to open any trades. If you reach below 70% Margin, a stop-out will occur and MT4 will start to close your open positions to prevent a negative balance.
You can log in to MT4 with your broker account from any location in the world. It is available to download as a desktop platform for Windows, Linux, and Mac or can be used as a web platform or mobile app on Android and iOS devices. You can also create a demo account before you sign up for a live account and browse and use the features without investing any real capital. Hugo’s Way does not offer PAMM (percentage allocation management module) accounts. Hugos Way is an online broker offering over 150 Forex and CFD trading instruments on the popular and easy to use MT4 platforms for multiple devices.
What Is Hugo’s Way?
This deters hackers and fraudsters from attacking the Hugo’s Way servers to seek personal information. Many countries do not require fx brokers to be regulated, which is how this broker operates legally in some countries. In addition to the lack of regulation, there are other issues at Hugo’s Way that would make us advise against trading with them.
The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. Hugos Way offers 24/7 live support in the shape of live chat, email or call back request. The help centre has a Frequently Asked Questions (FAQs) section which is like a knowledge base.
Hugo’s Way works closely with its payment service providers to ensure fast and flawless deposits and withdrawals. Hugos Way enables you to trade a generous range of over 150 assets including forex, metals, indices, stocks, commodities and crypto assets. All trading styles and strategies are allowed, without limitations. Thus, the broker accepts scalping, hedging and news trading strategies. A live account, however, is a real account with real money that clients deposit their money into in order to trade as they wish. If you are using a credit or debit card to withdraw or deposit money, there are no fees.
Make sure you understand what leverage is an how it works before trading leveraged positions with Hugos Way or any other broker. As Hugosway is quite a new online broker, they do not have any bonuses, such as a deposit bonus. Hugosway wants clients to succeed, so they will outline the general nature of a high-risk trade versus a low-risk one.
However, as per U.S law, brokers regulated by CFTC are the only brokers allowed and safe for USA traders. HugosWay the best forex broker offers 24/7 live assistance in the shape of a chat, email or a call back request. The help center has a Frequently Asked Questions which is a help support database.
The demo account can be credited with up to $100,000 with a leveraged setting of your choice. These accounts can be a great way to learn how to trade online with virtual funds whilst familiarising yourself with the brokers services and platforms. If you use a bank wire transfer, your accounts lose money because there is a transaction fee of $25. Ultimately, the best way to make deposits and withdrawals on your Hugos Way trading account is with credit or debit cards or Bitcoin. Similarly, as Hugosway brokers value customer support, they use a procedure called “know your customer” to have traders register their accounts.
Forex – TOP 5
This registration requires clients to verify their accounts by uploading proof of identity and a proof of address. 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 hugofx swap fees. HugosWay is forex, crypto, and stockbroker based in St. Vincent and the Grenadines that offer MetaTrader 4 trading for clients in a range of countries. With a wide range of assets, the industry’s favorite commercial trading platform, and competitive leverage rates, the broker is becoming increasingly popular.
Whatever your question may be, they are on hand and happy to help. HUGO FX claims that it offers 24/7 customer service support, but no phone number is provided. Traders can reach HUGO FX customer service team though a contact form, live chat, as well as some social mdeia platforms including Facebook, Twitter, Instagram.
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. Although Hugos Way only offers one type of account, the broker offers tight spreads depending on the trading condition of the market. While some brokers work with a variety of trading platforms, Hugo’s Way only works with the mt4 trading platform, but it is one of the most popular trading platforms among traders.
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.
HugoFX is an STP/ECN broker with high institutional liquidity from leading banks. It offers only one type of account with narrow spreads from 1.2 pips for the EURUSD currency pair. If you are funding your Hugo’s Way account using a credit/debit card or wire transfer, you will have to do so through a 3rd party platform. This platform is called Instacoins and allows you to purchase Bitcoin using your debit card, credit card, or wire transfer and send that Bitcoin directly to your Hugo’s Way account.
What is the hugosway withdrawal process?
Hugos Way protects its network with a 256-bit Secured Socket Layer (SSL) encryption. This SSL technology encrypts all user data before transmission to the Hugos Way servers. That way, internet fraudsters are deterred from attacking the network and victimizing clients. Any action you take upon the information you find on this website is strictly at your own risk and we will not be liable for any losses and/or damages in the use of our website. You need to Download “Google Authenticator App” on your phone.
Creating an account on Hugosway is easy, simply go to their website and click on ‘sign up’ to create your account. You will need to input your first and last name, your email, and a password. If you are opening demo accounts, it will need to have a different password than any future live accounts. With your MT4 ECN Account, traders have a wallet for each currency that they can deposit or withdraw from. Traders can then transfer money from wallet to wallet or from their wallet into their MT4 account for trading.
- Their 3rd party payments service is regulated to ensure no traders’ accounts lose money from fraud.
- Hugo’s Way has one account type, which uses an ECN/STP brokerage model.
- In 2 years with them this has been their “go-to guarantee” every time you’re in an open position!
- With such a large selection of trading tools, you can get a comprehensive analysis of any trading instrument.
- This includes pros, cons and an overall rating based on our findings.
- Leverage is an investment strategy that uses borrowed money to increase the return.
When you see that they hold a valid license from your governments financial regulator, you can be sure that they are a legitimate broker. Forex brokers in the United States must be licensed and regulated by the CFTC, otherwise your cash is not protected. CONSOB blacked 5 platforms out of unlicensed brokers in Italy CONSOB warns… Rates, terms, products and services on third-party websites are subject to change without notice. We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews.
HugosWay charges $5 per lot traded, with the commission fee adjusted based on the trade size selected. For example, if you make a trade with 0.5 lots, https://forexhero.info/ you will be charged $2.50. If you are currently investing at HugosWay, please share your experience withdrawing your money, in the comments section.
Hugo’s Way Demo Account
This is to ensure a safe trading environment for all traders. This broker specializes in trading leveraged products such as trading cfds and Forex, and these can have a high risk of losing money. I withdrew some money from my account and received it in under an hour. Just create a withdrawal request, and the money will be in your bitcoin wallet that day. When we tested their customer support with our questions about accounts and fees. They were very knowledgeable and were able to easily answer our questions.
Leverage is an investment strategy that uses borrowed money to increase the return. When opening an account on Hugo’ s way, you will need to select leverage based on how much of a risk you are willing to take. Even though Hugosway is not a regulated broker, most countries do not require brokers to be regulated. The how-to-guides include topics such as how to purchase Bitcoin with your debit card or how to become the best trader.
Demo accounts have no capital at risk because clients do not deposit real money into them. Instead, Hugos Way will give new clients ‘fake’ virtual money to practice currency trading to get used to the platform and learn how to trade. Hugo FX has also put in place security measures like KFC, 2FA, SSL, etc. This is to help try and ensure a safe trading environment for all traders. There are help guides on how to buy Bitcoin, understanding the markets and much more.
The trading setup has been great and withdrawals have been processed without any hiccups along the way. It only takes a few minutes to open an account and you can start trading with as little as $10. 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. Hugosway is an online broker that focuses on the MetaTrader 4 forex trading platform. With over 150 trading instruments on the trading platform and over 50 currency pairs, trading CFDs, stocks, silver, gold, indices, oil, and bitcoin, there’s something for every trader.
The choice of MT4 is well accepted among many traders especially as all its versions are available; web, desktop and mobile. Whatever your experience level, the platform is widely regarded as the industry standard amongst beginners and professionals alike. Overall, there are many things to like about Hugos Way from my research and experience. Cards like Visa and MasterCard are accepted for deposits ranging from $50 to $600 per transaction. For withdrawals, the original funds must be returned to the card. Then, the profits can be withdrawn via Bitcoin or bank transfer.
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.