Hugo’s Way Review Warning!
They come up with all sorts of excuses not to return the money. HugoFX, sometimes also referred to as Hugo’s Way FX, is a relatively new forex & CFD broker registered in the Seychelles in 2017. • Never lose money again due to lack of information & inconsistent trading strategies… Unveiling unique “trend spotting” formulas to maximize returns & minimize losses in any type of market trends… Traders are seeing positive daily returns at an amazing level that was only previously seen in the most lucrative stock deals in history such as Apple, Google, and Microsoft… Introducing the first technology of its kind to provide automated trading that even professionals are using to simplify their businesses…
There is no designated government or non-government body to supervise the activities of HugosWay or to resolve complaints. Please note that this procedure could delay your withdrawal from hours. You should receive the funds in a much less time frame than we provided, that timeframe is given just in case we need to do more thorough checks.” The withdrawal will be approved as soon as it is safe to do so. This is a security measure to protect both the trader and us as a broker.
Client Since 2018
Been getting paid like a G trading 100lots+ on forex pairs. 3 weeks later after they suspended me, I receive an email stating that the funds I had in my wallet was transferred to a trading account. • Fast payments and withdrawals any time through our internal system allows complete control over your money… Unique algorithms completely automate the entire trading process that use to require high priced brokers, years of knowledge, & large rooms full of expensive equipment. • Fast payments and withdrawals any time through Hugosway internal system allows complete control over your money…
HugosWay accepts deposit by Bitcoin and Bank Wire as well as by Visa and Mastercard credit and debit cards. Withdrawals by bank wire are processed within 1 day, but may take up to 6 days to arrive. Then after 10 attempts of sending my photo verification with the withdrawal amounts they then prompted me to escalate my withdrawal query which led my account to be reviewed and then suspended. Hugo Way’s special features are Bitcoin funding and withdrawals, and the notable company blog. There are so many Forex brokers to compare and choose from online, look here. • Constantly evolving & adapting our software to maximize your returns and stay ahead of market changes before they happen…
We will inform you via email if your withdrawal is approved. 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. Please read HugosWay com Reviews below and share your live trading experiences with this broker. The broker promise its support and consultations if I deposit but in fact NO. It lasted exactly two weeks and then everything disappeared, technical assistance does not work, the consultant does not contact me any more.
A request to settle a debt, taxes or other amount owing and to send money via courier, prepaid bank card or gift card. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. Withdrawals to cards up to the amount deposited by card can take up to a week to be credited by your bank.
Where is HugosWay located?
The seller asks to be paid via international money orders, checks, direct bank wires or cryptocurrency and will not accept any other form of secure payment. I would not suggest this broker – the platform DOES freeze as Frank says in his post. I could not fund my account to get started bc I did not have Visa card so trying to fund was an issue for me, maybe not for others.
HugoFX is a legally registered forex broker located in the Seychelles, but not regulated by any government agency. Hugo’s Way works closely with its payment service providers to ensure fast and flawless deposits and withdrawals. One thing that is important to be informed about is that your Margin Level will be taken into consideration, should you have any open trades. This is due to the fact that the price of an instrument can gap upon opening, which can increase the risk of an account going into a negative balance when not having a healthy Margin Level. As such, this is now part of our security checks when approving withdrawals.
What we don’t like, though, are the many fees that HugoFX charges for depositing and withdrawing money. Fortunately, however, this can be avoided by using bitcoin and certain other payment methods. We use unique algorithms and a conservative trading strategy to greatly minimize the risk to our users. In the worst case scenario, trading can be immediately halted at any time by stopping the software. Our developers have created top performing software for the highest rated trading brokers in the world for the past 20 years. Transferring clients from other affiliate accounts is not allowed.
The prizes will be paid out into the https://forexhero.info/ account of the winners. Only referrals who deposit, open an MT4 account and trade will be counted. HugoFX is a Forex broker founded in 2017 in Saint Vincent and the Grenadines. The broker accepts clients from all over the world with the exception of the USA and other countries where restrictions apply.
- However, the payment services part of the business, which is the part of the company that actually handles transactions, is registered in Saint Vincent and the Grenadines under the name Hugo’s Way Ltd.
- We are committed to the fair handling of reviews and posts regardless of such relations.
- As such, this is now part of our security checks when approving withdrawals.
- • Fast payments and withdrawals any time through Hugosway internal system allows complete control over your money…
- ReportScamOnline now considers HugoFX to be operating an online scam.
The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website. Before choosing a broker, we recommend that you read the reviews of HugoFX, as well as see our rating of Forex brokers. The latest HugoFX review suggests that the company operates illegally and without a proper financial regulatory license.
Our final verdict is that HugoFx is actually not regulated by any financial regulator. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. We would recommend traders to stay away from unregulated brokers like HugoFX and trade with licensed brokers. HugoFX is an UNLICENSED broker and should be avoided at all events. That means investors’ funds in this broker are unsafe and cannot be protected by any laws.
What is the maximum leverage in HugoFX?
Hence, rapid price movements may inflict serious financial damage or even devastate your entire trading account. However, the payment services part of the business, which is the part of the company that actually handles transactions, is registered in Saint Vincent and the Grenadines under the name Hugo’s Way Ltd. As is the norm in Saint Vincent and the Grenadines, the government does not provide any regulatory oversight of forex brokers, and the broker is thus free to operate in pretty much the way it wants.
We recommend that our readers not trade with this broker and if you have an open account with this company, we suggest you try to withdraw your funds as soon as possible. Although HugosWay is not regulated, many countries have no laws requiring regulation of forex brokers. I liked being able to open an account with $10 in the beginning. I know that isn’t much to get started, but I was hesitant as a beginner and felt more comfortable starting with a small amount.
HugoFX is not under valid regulation and should be avoided at all events. Therefore, we highly recommend exercising caution when dealing with brokers claiming to be registered in or regulated by SVG FSA as they are actually unregulated. Most importantly, HugoFX states that they are on the way finding the most proper regulator, which can take a lot of time. However, despite its claims, it is merely their ridiculous excuse for illegally operating its business under no license or accreditation.
ScamBroker.com is a broker reviews website, and does not offer any investing advice or service. Nothing on this website should be considered a recommendation or endorsement. We are not responsible for any losses you may incur, by investing with a company mentioned on this website. We may receive compensation from the companies we write about. Always verify that your broker, is licensed by your local financial regulator.
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Participants are not allowed to sign up to Hugo’sWay through their own link.
Hugos Way offers not only currency pairs, but also permits clients to trade cryptocurrencies and CFDS on stocks and commodities including precious metals. Finally, the broker also offers a selection of over 30 cryptocurrencies, which is much more than most other Forex brokers. When it comes to the spreads that are available, HugoFX is in no way the cheapest broker out there, but instead offers medium-sized spreads compared to other brokers. All of these assets can be traded on the classic MetaTrader 4 platform, which also happens to be HugoFX’s only trading platform. Although this certainly doesn’t make the broker stand out in any way, it is still common among forex brokers to rely solely on the MT4 as their platform. And since it is still among the most popular trading platforms in the world, traders seem to be fine with it for the time being.
Hugo’s Way Review
• FOREX & Bitcoin have the largest market caps in the trading world with daily growth by leaps and bounds… Enabling everyone to earn substantial income from FOREX and Bitcoin trading without the hassle or risk involved in traditional methods… Participants are not allowed to open multiple MT4 accounts. This is wrong doing on their part and without access to my account there is no knowing what they are doing under my name. “We are getting back to you regarding your recent withdrawal request. Watch the most common forex scam videos and how to avoid them starting right now.
Deposits and disbursement of possibly earned profits can be done via the usual payment methods (Bitcoin, bank transfer, credit card, etc.). In terms of instruments that are available for HugoFX’s clients to trade, the selection includes all of the assets that one would expect to find from any broker these days. In addition to more than 50 forex pairs and stock CFDs of more than 60 companies, HugoFX also offer CFDs based on stock indices, metals, and energy commodities. You can make withdrawals on Hugosway 24/7, and up to twice each day. Nevertheless, the broker states that all client funds are kept separately from the company’s fixed capital in special segregated accounts in first-tier banks. ReportScamOnline now considers HugoFX to be operating an online scam.
Anybody who attempts to do so will be automatically disqualified. 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. Been trading with Hugosway since 2018 payouts deposits all perfect.
As much as trading on foreign exchange markets may be potentially profitable, it can also lead to significant losses. Ensure that you have enough trading experience, knowledge and full comprehension of potential risks involved. Most derivative contracts have high leverage and low margin requirements.
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