Risk Management Index
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The data are from WIKI Research 2021.08.04 updated
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Basic 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.
Security Analysis of HUGO FX
The first and the most rigid indicator to measure a broker safe or not is to see if it is strictly regulated. HUGO FX is currently an unregulated broker, which means that the safety of investors' funds and trading activities are not protected in any effective way.
Market Instruments of HUGO FX
The main financial instruments offered by HUGO FX are 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. The minimum initial deposit for accounts is not known at this time.
Spreads & Commissions of HUGO FX
The official website of HUGO FX shows the real-time spreads for various financial products. 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.
Trading Platforms Available of HUGO FX
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 and Withdrawal of HUGO FX
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.
The main disadvantages of HUGO FX are:
1. No regulation
2. Minimum initial deposit information unknown
3. Spreads not competitive
4. Limited deposit & withdrawal options
5. No real-time customer services
6. Official website available for one language version only
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Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.
Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.