HugosWay is an offshore Forex broker, that opened in February 2017. You should take a minute and read the article: “The Difference Between Regulated & Offshore Brokers“.
For complaints and withdrawal problems, read this.
Forex Investors at HugosWay are given the popular Forex trading platform known as MT4 (MetaTrader4). Hugo’s Way has available the desktop software version, the web-based trader, and mobile trading app for Android & iOS. You can create multiple demo trading accounts to test out their platform and your trading strategies.
They offer a wide variety of assets to trade including; Forex / Currency pairs, Commodities (oil, gold & silver), Indices and CFD’s for shares trading. Standard leverage available is as high as 100:1. The minimum deposit requirement for a new Hugo trading account is not mentioned on the website.
According to their terms and conditions page;
The customer also hereby confirms that these funds are free of any liens or debts, are clean and non-criminal in origin and do not originate from the United States of America or any country on the Office of Foreign Assets Control (OFAC) List.
This means, that Americas should NOT deposit money at this broker. It is interesting that on the forums, we hear about Americans trading with this brokerage firm.
HugosWay is Not Regulated
The way you know a Forex broker is not a scam, is by checking their regulatory status. 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.
Hugosway is not a licensed or regulated broker. Officially they are owned and operated by Hugo’s Way Ltd, which is located at; Beachmont Business Centre, Suite 65, Kingstown, St. Vincent and the Grenadines.
Global Gateway 8, Rue de la Perle, Providence Mahe, Seychelles.
Today there are hundreds of get rich quick scams online, and most people lose their money. For complaints and issues with withdrawing your money, read this.
Compare Brokers to Hugo’sWay
There are so many Forex brokers to compare and choose from online, just look here.
They offer a robust web trader platform, along with the popular MT4 and a proprietary desktop trading software.
Register here for a Free Demo Account.
If you are currently investing at HugosWay, please share your experience withdrawing your money, in the comments section.