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/10

Hugo’s Way

Seychelles|5-10 years|
White label MT4|Global Business|High potential risk|

https://hugosway.com/

Website

Rating Index

MT4/5 Identification

MT4/5

White Label

HugosWay-Demo3

United States
MT4
3

Influence

A

Influence index NO.1

United States 8.11

MT4/5 Identification

MT4/5 Identification

White Label

3
Server Name
HugosWay-Demo3 MT4
Server Location United States

Influence

Influence

A

Influence index NO.1

United States 8.11

Surpassed 67.03% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

support@hugosway.com
https://hugosway.com/
House of Francis, Room 303, Ile Du Port, Mahe, Seychelles
https://www.facebook.com/hugoswayofficial

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

Other ways of contact

Broker Information

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Company Name

Hugo's Way Limited

Abbreviation

Hugo’s Way

Platform registered country and region

Seychelles

Company website
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Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2024-07-22
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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Hugo’s Way · WikiFX Survey

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Hugo’s Way · Company Summary

Registered in St. Vincent and the Grenadines
Regulated by No effective regulation at this time
Year(s) of establishment 2-5 years
Trading instruments Forex pairs, cryptocurrencies, indices, commodities, futures, energies
Minimum Initial Deposit $10
Maximum Leverage 1:500
Minimum spread 0.0 pips onwards
Trading platform MT4
Deposit and withdrawal method VISA, MasterCard, bitcoin and bank transfer
Customer Service Email, address, live chat, call back, social medias
Fraud Complaints Exposure Yes

It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

Pros and cons of HUGO

Pros:

  • Low minimum deposit requirement of $10

  • Wide range of tradable instruments including forex pairs, cryptocurrencies, indices, commodities, futures, and energies

  • MetaTrader 4 platform available for trading

  • High maximum leverage of up to 1:500

  • Customer support available through live chat, social media, and email

  • Wide range of payment options available for deposits and withdrawals

Cons:

  • HUGO is not regulated by any financial authority, which may cause concerns for some traders

  • Limited information available about account types and fees

  • Lack of educational resources for traders

  • No information available on commissions and SWAP fees

  • Limited information on deposit and withdrawal procedures, including additional fees and minimum amounts

  • Limited information on the company's background and ownership

What type of broker is HUGO?

Advantages Disadvantages
No conflict of interest Higher spreads than market makers
No requotes Less control over spreads
Direct access to liquidity providers Slippage can occur during high market volatility
Transparency

HUGO operates as a Straight Through Processing (STP) broker. This means that they do not act as a market maker, instead, they pass their clients' orders directly to liquidity providers such as banks or other brokers. By doing so, they can provide their clients with a transparent trading environment with no conflict of interest. This also eliminates the need for requotes as the prices offered are taken directly from the liquidity providers. However, since HUGO does not control the spreads, they may be higher than what market makers offer. In addition, slippage can occur during high market volatility since there is no guarantee that the order will be filled at the requested price. Nonetheless, STP brokers like HUGO are often preferred by traders who value transparency and fair trading conditions.

General information and regulation of HUGO

HUGO is an online brokerage firm registered in St. Vincent and the Grenadines, offering trading services in forex, cryptocurrencies, indices, commodities, futures, and energies. As an STP broker, HUGO provides clients with direct access to the market and no dealing desk intervention. The platform used by HUGO is MetaTrader 4 (MT4), which is a popular trading platform among traders due to its user-friendly interface and advanced trading tools. HUGO offers a maximum leverage of 1:500 and a minimum deposit of $10. Customer support is available via call back, social media, and 24/7 live chat, but educational resources are limited.

In the following article, we will analyse the characteristics of this broker in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.

General information

Market instruments

Advantages Disadvantages
Diverse range of instruments including forex pairs, cryptocurrencies, indices, commodities, futures, and energies Limited selection of cryptocurrencies compared to some other brokers
Trading on multiple asset classes can provide traders with the opportunity to diversify their portfolio and manage risk more effectively No specific information available on the spreads and margin requirements for each instrument
Availability of futures and commodities trading can be beneficial for those interested in trading physical assets Limited information on the execution model for each instrument

HUGO offers a diverse range of instruments for trading, including forex pairs, cryptocurrencies, indices, commodities, futures, and energies. Trading on multiple asset classes can provide traders with the opportunity to diversify their portfolio and manage risk more effectively. The availability of futures and commodities trading can be beneficial for those interested in trading physical assets. However, HUGO has a limited selection of cryptocurrencies compared to some other brokers, and there is no specific information available on the spreads and margin requirements for each instrument. Additionally, there is limited information on the execution model for each instrument, which can make it difficult for traders to make informed decisions about their trades.

market instruments

Spreads, commissions and other costs

Advantages Disadvantages
Competitive spreads Commissions and SWAPs not disclosed
No deposit and withdrawal fees Lack of transparency in pricing
Low minimum deposit requirements

HUGO provides live spreads on their website, which are competitive with industry standards. However, the broker does not disclose their commissions and SWAPs, which can make it difficult for traders to calculate the total cost of trading. This lack of transparency can be a disadvantage for traders who prefer to have all costs disclosed upfront. Additionally, while there are no deposit and withdrawal fees, HUGO's pricing lacks full transparency. On the positive side, the broker's minimum deposit requirements are low, which can be an advantage for new traders who want to start trading with a small amount of capital.

spreads and commissions

Trading accounts available in HUGO

Advantages Disadvantages
Low minimum deposit requirement of $10 Lack of information about account types and their features
Flexibility for traders to start with a small amount Limited choices for traders who require specific account features
Possibility of multiple account options to cater to different trading needs Inadequate transparency regarding account types and their conditions

HUGO provides limited information about their account types, making it difficult for traders to understand their options fully. They only mention the minimum deposit requirement of $10, which is beneficial for traders who want to start with a small amount. However, the lack of transparency regarding the features of each account type and the absence of information about account types other than the minimum deposit amount may be frustrating for traders who are looking for more comprehensive options. While it is possible that HUGO offers various account types, it is challenging to determine which one will suit a trader's requirements. Therefore, it is advisable to contact their customer support team for detailed information about the account types and their features.

Trading platform(s) that HUGO offers

Advantages Disadvantages
Widely used and trusted platform Limited customization options
Availability of a variety of technical indicators Limited availability of news and research tools
Easy-to-use interface for beginners and advanced traders Limited availability of advanced order types
Support for automated trading through expert advisors No proprietary platform offered
Compatibility with Windows, MacOS, and mobile devices No web-based platform offered

HUGO offers the popular and widely used MetaTrader 4 (MT4) platform to its clients. MT4 is a well-established platform in the forex and trading industry, known for its reliability and ease of use. The platform supports a variety of technical indicators and offers an easy-to-use interface for both beginners and advanced traders. Additionally, the platform supports automated trading through the use of expert advisors. HUGO's MT4 platform is available for Windows, MacOS, and mobile devices, making it accessible to a wide range of traders. However, the platform does have some limitations, such as limited customization options and the absence of advanced order types. HUGO does not offer a proprietary trading platform or a web-based platform, which may be a disadvantage for some traders who prefer alternative options.

trading platform

Maximum leverage of HUGO

Advantages Disadvantages
Can increase potential profits with a small deposit Can also increase potential losses
Provides flexibility for traders to take larger positions Can be risky for inexperienced traders
Can allow for diversification of trading strategies May not be suitable for all trading styles
May attract traders looking for higher leverage options Regulated entities may have lower maximum leverage restrictions

HUGO offers a maximum leverage of up to 1:500, which can be an attractive feature for traders looking to maximize their potential profits with a small deposit. Leverage allows traders to take larger positions in the market than their account balance would normally allow. However, it's important to note that while leverage can increase potential profits, it can also increase potential losses. It's essential for traders to understand the risks involved and to use leverage responsibly. Inexperienced traders should be cautious when using high leverage as it can be risky. Additionally, regulated entities may have lower maximum leverage restrictions due to their obligation to protect their clients from excessive risk. Overall, the maximum leverage offered by HUGO can provide flexibility and diversification for traders, but it may not be suitable for all trading styles and should be used with caution.

maximum leverage

Deposit and Withdrawal: methods and fees

Advantages Disadvantages
Wide range of payment options, including Visa, MasterCard and Bitcoin. Limited information on fees, minimum amounts, and processing times.
Bank transfer option is available for those who prefer traditional methods. Lack of transparency regarding additional charges and costs.
No deposit fees are mentioned on the website. No information provided on potential withdrawal fees.
Fast deposit processing times, according to the website. Limited options for payment methods compared to other brokers.

HUGO offers a limited number of payment options for both deposits and withdrawals. The company lists Visa, MasterCard, Bitcoin, and bank transfer as its available options. However, important information like fees, processing times, and minimum amounts are not clearly stated on the website. This lack of transparency could be a significant disadvantage for traders who need to plan their finances and expect to know the total cost of their transactions. Additionally, HUGO does not provide any information on potential withdrawal fees, which could be problematic for traders who may face unexpected costs. On the other hand, the company does not charge any deposit fees and promises fast processing times for deposits. Overall, while HUGO offers some payment options, its lack of transparency on additional costs and fees could be a disadvantage for traders.

deposit and withdrawal

Educational resources in HUGO

Advantages Disadvantages
None available Limited educational resources
Lack of educational materials, such as tutorials and webinars
No trading tools or indicators
Limited information on trading strategies

HUGO lacks comprehensive educational resources for traders, with only a small section called “Insights” available on their website. The insights mainly cover company news and updates, with limited information on trading education. The company does not provide any trading tools or indicators, tutorials, webinars, or comprehensive trading strategies. Additionally, there is no option for traders to practice their skills on a demo account. This lack of educational resources may make it difficult for beginner traders to learn about the market and develop their trading skills.

educational resources

Customer service of HUGO

Advantages Disadvantages
Multiple contact options, including call back, social media, and 24/7 live chat No physical office address available
Email support available Limited information available on website about customer support
Quick response time on live chat

HUGO provides several options for customer care, including call back, social media, and 24/7 live chat. Additionally, email support is available for customers. HUGO's live chat option has a quick response time and can be helpful in resolving issues quickly. However, the company does not provide a physical office address, which may be a concern for some customers. There is also limited information available on the website about customer support.

customer support

Conclusion

In conclusion, HUGO is an STP forex broker registered in St. Vincent and the Grenadines, offering various financial instruments such as forex pairs, cryptocurrencies, indices, commodities, futures, and energies. The company provides the widely popular MT4 trading platform, as well as high leverage of up to 1:500. However, the lack of transparency on costs such as spreads, commissions, and other fees, as well as limited information on account types, educational resources, and deposit and withdrawal options are concerns. Customer support is available through various channels, including live chat, email, and social media. While HUGO may be suitable for experienced traders, beginners may need to look elsewhere due to the lack of educational resources and transparency on costs.

Frequently asked questions about HUGO

  • Is HUGO a regulated broker?

  • No, HUGO is not regulated by any financial regulatory authority.

  • What trading platforms does HUGO offer?

  • HUGO offers the popular trading platform, MetaTrader 4 (MT4), for desktop, mobile and web-based trading.

  • What is the minimum deposit requirement to open an account with HUGO?

  • The minimum deposit requirement to open an account with HUGO is $10.

  • What financial instruments can be traded on HUGO's platform?

  • HUGO offers a range of financial instruments including forex pairs, cryptocurrencies, indices, commodities, futures and energies.

  • What are the payment methods available for deposit and withdrawal with HUGO?

  • HUGO accepts deposits via VISA, MasterCard, bitcoin and bank transfer. Withdrawals can be made through the same payment methods.

  • Does HUGO provide any educational resources for traders?

  • HUGO offers limited educational resources with a section called “Insights” available on their website. However, the information mainly focuses on the company itself rather than trading education.

frequently asked questions

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