Hugo Trading Review How Legit is Hugostrading.com

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Hugo Trading Review: How Legit is Hugostrading.com?

Hugos Trading Review: Information is power. How much power do you have? Is hugostrading.com legit? Read and find out the result of our investigation.

Hugostrading.com is the website of a offshore Forex brokerage that is registered in Saint Vincent and the Grenadines and owned by Prime Technologies Ltd. They claim t offer traders a bitcoin-based platform to trade in foreign exchange, stock indexes, cryptocurrencies and other commodities.

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What Hugos Trading Say They Have to Offer

Hugos Trading Withdrawal and Deposit Methods and Fees

We are unable to find sufficient information on Hugos Trading withdrawal fees. The only thing we found was that, their method of payment is very limited. Bitcoin was the only medium we saw in this brokerage’s web site. Its minimum deposit is $300.

Pertaining to their terms and condition, there is a certain requirement which must be met for traders before they can be eligible to withdraw their bonus promotion.

We were unable to discover more in relation to this.

Hugos Trading Trading Software

Hugos Trading does not offer the popular MetaTrader 4 trading platform but a web-based platform. We consider this a deficiency and find it too risky to traders. This is because believe that this brokerage can not properly secure your funds. Thier lack of SSL encryption is a cuse for serious concern.

Is Hugos Trading Licensed?

During our investigation, we discovered that hugostrading.com is not licensed. furthermore, we discovered that Hugos Trading has never been regulated nor licensed by the proper authorities. Their website does not show any copy of legitimate papers or documents. No license and no registration details.

Also, we found out that Saint Vincent and the Grenadines are well known locations for scammers.

Conclusion

As a result of our investigation, we declare that Hugos Trading is a scam and potential traders should beware. Not only are their background information and contact details lacking, they not licensed. If this risk is taken, we advise that traders should invest only the brokerage’s minimum deposit to avoid sad tales.

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HugosWay.com Review Visit site

About HugosWay.com

Hugo’sWay is a forex broker. Hugo’s Way offers the MetaTrader 4 forex trading top platform. HugosWay.com offers over 50 forex currency pairs, cfds, indices, stocks, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

  • Information
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Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $10
Established: 2020
Address: Global Gateway 8, Rue de la Perle, Providence Mahe, Seychelles
Contact: [email protected],
Regional offices:
Regulators:
Prohibited countries:

Yes

Yes

Yes

Trading platforms: MT4, WebTrader
Web Trading:
Mobile Trading:
ECN:
Currencies: (55+)
Cryptocurrencies: (30+) Bitcoin, Litecoin
CFD: (125+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities

Yes

Yes

Yes

EAs/Robots:
News Spike Trading:
Scalping:
Deposit Methods: Bank Wire, VISA, MasterCard, Bitcoin
Withdrawal Methods: Bank Wire, VISA, MasterCard, Bitcoin

Live discussion

Join live discussion of HugosWay.com on our forum

Video

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Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Consumer Reviews

Service use: Live

Length of use: 0-3 Months

Service use: Live

Length of use: 0-3 Months

I’ve experienced the same as many people here, technical issues with their server. The problem is when I contacted them and provide evidence screenshot of me wanting to close a trade in profit until it went to loss then connection came back.. so They said that they hadn’t experienced any issues, and refuse to put a fair deal. When I contacted them back again to make sure they are considering my evidence they just ignored my email.

Service use: Live

Length of use: 3-6 Months

Service use: Live

Length of use: 3-6 Months

Service use: Live

Length of use: 0-3 Months

Service use: Live

Length of use: over 1 Year

Been with Hugos for around a year, the only positive point I could find is their support. Very reponsive, they have weird opening hours if you trade WTI and some commodities, stupid high spread but that didn’t bother me that much since I do swing trades. You will get a ”market closed” or ”invalid” when theres a lot of volatility in the markets which makes you unable to place trades.

I used BTC to fund my account because it didn’t require any KYC (I like BTC because of its privacy aspect) When I asked a withdrawal because I am leaving their broker they made me take a selfie of me while holding an ID while holding a piece of paper where I had instructions of putting date/withdrawal amount/signature, they tell you it’s for ”safety purpose” Keep in mind that the only info they had was my name and phone number, for me this is total bs (I had an authenticator and been using the same IP/IPS since the opening of this account a year ago)

They don’t know how to do business, if a customer wants to leave just give him his money, because of this I will not recommend this broker to any of my friends+ will tell my close people to move over to vantagefx because they now offer BTC funding/withdrawal, better spread, more instruments..everything better basically except if you’re a 100+ lot trader. I will take 2 hours of my time posting this comment on every possible review website.

If you read this hugosway, consider paying your customer the respect they deserve, reputation is everything in this game. Imagine how much customers will look for another broker after reading this comment, a unhappy customer can have a huge effect these days with all the medias.

Hugo’s Way Review

Hugosway

Reason to avoid: Offshore license

Listed Date: February 12, 2020

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Hugo’s Way is a Non-Regulated broker. It is NOT SAFE to trade. so Beware

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Hugosway Review present by 55brokers and other brokers reviews, Before signing an account you should always check on broker reliability and compare its trading offering.

What’s Hugosway broker?

  • Company name: Hugo’s Way Limited
  • Registration/license: Seychelles

Is Hugo’s Way a scam or legit broker?

No, Hugo’s Way broker is not safe to trade with it . Hugo’s Way is own by Hugo’s Way Limited which is an offshore company registered in Seychelles.

Seychelles is notorious for its easy process of financial or investment firm establishment, through a very low list of requirements, small budgets and what is more crucial with no strict overseeing of the brokers’ operation or history. Therefore, it became an offshore zone for shady forex brokers such as FXLinked, UKFinvest and more.

Hugo’s Way offers forex currency pairs, indices, commodities and stocks and also cryptocurrency trading. It claims to offer a new level of trading and is able to offer market-leading pricing and trading conditions.

According to the broker’s website, the company is going through the process of applying for a license, however, for now, it remains unregulated. As proof, the website states that Hugo’s Way is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

We advise all investors and traders to avoid Hugo’s Way and other brokers from Seychelles. Generally, all the traders are advised to avoid unregulated/offshore brokers as there is a huge risk of losing money with such firms. Instead, choose those that are regulated with reliable regulator agencies. Traders should invest with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as etoro and plus500.

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One response to “Hugosway”

Been with Hugos for around a year, the only positive point I could find is their support. Very reponsive, they have weird opening hours if you trade WTI and some commodities, stupid high spread but that didn’t bother me that much since I do swing trades. You will get a ”market closed” or ”invalid” when theres a lot of volatility in the markets which makes you unable to place trades.

I used BTC to fund my account because it didn’t require any KYC (I like BTC because of its privacy aspect) When I asked a withdrawal because I am leaving their broker they made me take a selfie of me while holding an ID while holding a piece of paper where I had instructions of putting date/withdrawal amount/signature, they tell you it’s for ”safety purpose” Keep in mind that the only info they had was my name and phone number, for me this is total bullshit (I had an authenticator and been using the same IP/IPS since the opening of this account a year ago)

They don’t know how to do business, if a customer wants to leave just give him his money, because of this I will not recommend this broker to any of my friends+ will tell my close people to move over to vantagefx because they now offer BTC funding/withdrawal, better spread, more instruments..everything better basically except if you’re a 100+ lot trader. I will take 2 hours of my time posting this comment on every possible review website.

If you read this hugosway, consider paying your customer the respect they deserve, reputation is everything in this game. Imagine how much customers will look for another broker after reading this comment, a unhappy customer can have a huge effect these days with all the medias and shit.

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    Binarium

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    Free Trading Education, Free Demo Account!
    Get a Sign-Up Bonus Now!

  • Binomo
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    2nd in our ranking!

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