General Information & Regulation
HUGO FX is a St. Vincent and the Grenadines registered online Forex and CFD broker and is not currently subject to any active regulation.
Tradable financial instruments offered by HUGO FX include major currency pairs, cross-currency pairs, odd currency pairs, cryptocurrencies, metals, indices, stocks, USD futures, and energy.
HUGO FX offers personal accounts, corporate accounts, and demo accounts. However, the minimum initial deposit for accounts are not fully disclosed.
Spreads & Commissions
HUGO FX official website shows the real-time spreads for various instruments. The minimum spreads offered 0.5 pips for EURUSD, 1.2 pips for GBPUSD, 1.1 pips for NZDUSD, 1.1 pips for CAD, 0.30 pips for XAUUSD, 0.25 pips for XAUEUR, 0.26 pips for XAGUSD, the minimum spread for both USOil and UKOilfrom 0.86 pips, the minimum spread for AUS200 from 1.10 pips, for GER30 from 4.40 pips, and the minimum spread for Bitcoin USD is from 110.77 pips.
HUGO FX Leverage
Trading leverage varies depending on various instruments. The maximum trading leverage for major currency pairs is up to 1:500, Indices 1:200, Metals 1:500, Stocks 1:20, Cryptos 1:100. Trading leverage offered by HUGO FX is relatively high. ince leverage, can amplify both profits as well as losses, choosing the right amount is a key risk determination for traders.
HUGO FX offers investors the market-leading and highly acclaimed MT4 trading platform, as well as MT4 for Windows, MT4 for iOS, MT4 for Android, and WebTrader. The MetaTrader4 trading platform is available for traders of all skill levels through advanced technical analysis, flexible trading systems, algorithmic trading and expert advisors, and mobile trading applications. Moreover, its simple design and excellent user interface ensure seamless execution of any trading strategy, regardless of its complexity.
Deposit & Withdrawal
HUGO FX supports traders to deposit and withdraw funds to and from their accounts via Bitcoin, VISA, MasterCard credit cards, and wire transfers. It is important to note that deposits via Bitcoin are subject to a number of restrictions on refunds.
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.
HUGO FX Cons
HUGO FX Disadvantages Include:
1. No regulation
2. Minimum initial deposit information unknown
3. Spreads not competitive
4. Limited deposit & withdrawal options
5. Official website available for one language version only