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Hugo's Way Review: Is this broker legit, safe and trustworthy for Indians?

Hugo's Way is a new player in the social trading arena.

The market is quite saturated, with providers such as MyFxBook's Autotrade, Zulutrade, and eToro all competing for customers.

Hugo's Way is a company that is registered in the Seychelles.

Review: The firm states that they are in the process of seeking for a license, but they remain uncontrolled in the meantime. It is possible that you will incur losses if you opt to trade with them.

Review: Hugosway is lawful in both the United States and India, and its people are accepted.

Review: Due to the fact that the United States and India are not on this broker's prohibited list, you only need to give the basic KYC papers and you may join up and begin trading immediately.

Get started with Hugo's Way

 

Review: A corporation that is not regulated might just take your money and provide you with any services. This is one of the reasons why financial regulatory bodies are present in almost every country. In the United Kingdom, for example, the Financial Conduct Authority (FCA) regulates the financial sector. In the case of brokers who fall within its jurisdiction, it imposes a number of stringent requirements. They include best execution practices, frequent reporting on activities, and, most crucially, a set of regulations pertaining to the protection of client assets, among other things.

Review: First and foremost, customer accounts are kept separate from one another. This means that a broker who is regulated by the FCA cannot easily access (and "borrow") the investments made by its clients. Aside from that, the Financial Services Compensation Scheme has been established. This is a method that protects traders' funds in the event that their broker goes out of business. The insurance coverage is restricted to a total of 50,000 per account.

Review: Hugo's Way is presently seeking applications from both investors and traders with exceptional skills and abilities. If you have a proven track record at a site such as MyFxBook or FX Blue, you may be eligible to apply in order to be considered for participation. A restriction on the use of automated tactics does not exist at all.

Review: On the other hand, if you are an investor who wishes to have some of the top traders manage his or her money, you may also register in advance. During this time, you might look into other services, such as eToro, which is the world's largest social trading platform. Some of the world's greatest traders battle for the attention of investors in this environment.

Review: Hugo's Way does not provide any information on the amount of the first deposit required. This is not always the case with forex brokers, who strive to provide their clients with as much information as possible. For example, FxPro, an FCA-regulated broker, needs a $100 minimum initial commitment to open an account.

Keep in mind that Hugo's Way is a very new initiative, and the outcome may not be determined for some time.

Review: The costs of doing business at Hugo's Way have not been disclosed. This is hardly surprising considering the fact that the firm is still in its "beta" stage. In any case, they will very certainly be a critical component of the overall offering, along with the reward of traders structure, which has yet to be published as well. While we wait for the official announcement, you may use our dedicated website to compare the spreads given by some of the world's leading brokerage firms while you wait.

Review: In addition to a big range of over 150 trading products for you to trade on the user-friendly MetaTrader 4 platform, Hugo's Way is a real ECN/STP broker. Transaction circumstances are extremely favorable, with tight spreads, minimal costs, swift trade execution speeds, and a variety of handy account financing alternatives available to customers. Hugo's Way is open to all sorts of traders and trading tactics, with scalping and hedging both permitted on the platform. The broker offers a professional support team available 24 hours a day, seven days a week to assist you with all of your trading account needs. They may be reached by live chat, email, or by requesting a call back at a time that is convenient for you.

Review: Hugo's  Way is an ECN/STP broker that offers leveraged trading on a wide range of CFDs and options (contract for differences). Trading contracts for difference (CFDs) allows you to speculate on price discrepancies between when you open and conclude a deal without having to hold the underlying asset in question. This is a very common form of day trading in the United States.

Review: Hugo's Way Ltd, a St Vincent and the Grenadines-registered corporation with a branch office in Kingstown, is the firm that owns and operates the broker. The brand, which was established in 2017, offers forex and CFDs using the popular, adaptable, and simple-to-use MetaTrader 4 (MT4) platform, which is available on desktop, web, and mobile platforms.

Review: Hugo's Way allows you to trade in over 150 different assets, including currency, metals, indexes, equities, commodities, and digital assets (cryptocurrencies). There are no restrictions on the trading styles and tactics that may be used. As a result, the broker accepts tactics such as scalping, hedging, and news trading.

Review: The broker provides its clients with the full ECN benefit of narrow spreads, quick execution speeds, and little slippage by utilizing the ECN network. Hugo's Way claims that its liquidity pool is comprised of more than 50 different financial institutions. The spreads are gathered from many banks in order to provide clients with the most competitive price feasible. A broker's ability to offer better pricing and execution times is generally inversely proportional to the amount of institutional grade liquidity that broker has sourced from major banks. Trading expenses may be reduced by reducing the spreads and slippage on your orders, which can help you save money.

Review: As stated by the company, Hugo's Way does not manipulate transactions and employs a no dealing desk (NDD) business model.

Review: It makes use of the Straight Through Processing (STP) execution methodology in order to handle all client orders without the need for dealing desk involvement.

Review: As a result, they do not act as a market maker, but rather guarantee that you receive the best pricing and execution speeds available straight from liquidity sources.

Review: Hugo's Way is not currently subject to any regulations. The fact that the broker is not regulated does not preclude the broker from imposing some limits, such as greater deposits for average leverage, restrictions on trading techniques like as scalping, and higher charges to pay the expense of complying with regulatory requirements.

Review: Despite the fact that Hugo's Way is not regulated, their 3rd party payment provider is regulated. In order to submit a deposit through wire transfer or credit/debit card, they must provide evidence of residence and identification.

Review: An authentication program such as Authy, Microsoft authenticator, or Google Authenticator can be used to implement two-factor authentication (also known as 2-FA).

Review: For phone numbers that have been validated, it is also possible to do so by SMS. Hugo's Way maintains that two-factor authentication (or 2FA) increases the security of its clients' accounts.

Review: Hugo's Way needs all registered clients to complete a 'Know Your Customer' process in order to validate their accounts. In order to use the service, clients must upload a "proof of identification" as well as a "proof of address."

Review: 256-bit Secure Socket Layer (SSL) encryption is used to safeguard Hugo's Way's network against intrusion. The SSL technology used by Hugo's Way encrypts all user data before it is transmitted to the company's servers. In this way, online fraudsters are discouraged from targeting the network and preying on unsuspecting customers.

Review: In spite of the fact that their brokerage services are not directed at any particular jurisdiction and are not intended for any usage that would be in violation of local law or regulation, Hugo's Way accepts customers from the majority of nations.

Review: Hugo's Way makes use of the renowned MetaTrader 4 (MT4) trading platform to give its customers with a seamless trading experience. The MT4 trading platform is frequently utilized by traders due to its extensive range of features and user-friendly design, which makes it easy to use.

Review: When it comes to trading tools, MetaTrader 4 features a plethora of options that allow for rapid and easy market analysis across a variety of chart kinds and periods. With a single click, you can identify which instruments are heading upwards or downwards, while transactions may be placed and exited at your leisure.

Review: The MT4 platform is entirely configurable, and it has a straightforward layout that makes it easy for traders of all experience levels to navigate around the platform. If you want to practice trading online and become more comfortable with the platform, it offers demo accounts for your convenience.

Review: A variety of MT4 products are available from Hugo's Way, including the WebTrader, MT4 desktop software for Windows and Mac OS, and the MT4 mobile applications for Android and iOS devices. Individuals who prefer to access their accounts and trade while on the move may find the mobile applications to be particularly beneficial. You may access it from any location in the globe as long as you have an internet connection.

Review: Without the need to download or install any additional software, the MT4 online platform may be accessed immediately through the majority of current web browsers. In terms of functionality, the Hugo's Way MT4 desktop platform has the most, and it is available for free download directly from the broker's website.

Review: The following are some of the characteristics of the MT4:

  • There are several different order kinds, including market orders, pending orders, and stop orders, among others.

  • Trading with a single click is supported.

  • There are hundreds of indicators to pick from when performing technical analysis on the charts.

  • There are nine different timeframes.

  • 30 indicators and analytical tools are pre-installed.

  • Notifications are sent by SMS, email, and pop-up windows.

  • Expert Advisors may be used to automate tactics, which can save time and money (EAs).

  • Back testing automated systems against previous data is done by a strategy tester.

 

Review: Traders may purchase indicators, expert advisors, signals, VPS services, and apps that can be used to improve the MetaTrader 4 platform from the MetaTrader market. MT4 provides direct access to the MetaTrader market, which may be accessed from inside the software.

  • Custom indicators, scripts, and EAs may be created using the built-in MQL programming interface.

  • This section contains platform guidelines and tutorials.

  • Demo accounts are used to practice trading with fictitious money.

  • Available in a number of different languages.

  • Downloads are available for free for desktop, web, and mobile devices.

 

Review: The MT4 trading platform, which is available as iOS and Android applications, is optimized for mobile trading. The MT4 app provides a straightforward, easily configurable, and intuitive user interface. Downloading the app is absolutely free and can be done through the Apple or Google play stores.

  • Here are some of the features of the MT4 mobile application.

  • It is possible to customize live quotations so that they display and track a particular trader's favorite instruments.

  • Live charts of all trading assets are available in nine different periods to choose from.

  • Technical analysis is carried out with the use of indicators and drawing tools.

  • View your current account balances and order history in real time.

  • When you're on the go, you may use the app to open positions, adjust orders, and close orders.

  • Configure push notification alerts.

 

Review: Trading forex with the MetaTrader 4 web platform is simple and can be done from any browser on any operating system (Windows, Mac, or Linux) without the need for extra applications. Access your account and begin trading in a matter of seconds with just a few clicks. All that is required is an Internet connection.

Review: As a normal component of the MetaTrader 4 desktop platform, the MetaTrader 4 online version offers all of the features of the native application. Thus, the excellent stability and compatibility of the online platform with the rest of the MetaTrader 4 ecosystem are guaranteed. The program is completely safe to use since all data transferred is securely encrypted.

  • Trading straight using a web browser is becoming increasingly popular.

  • Compatibility with any operating system is a need.

  • Data protection that is dependable

  • Trading with a single click

  • Trading enterprises have a long history.

  • Technical analysis is based on 30 indicators.

  • Objects in a graphical representation

  • Trading enterprises of all kinds are included.

  • Instantaneous quotations in the Market Watch 9 and 10 periods

 

Review: When you access the Hugo's Way site, you will be sent to the award-winning MT4 platform, which has a variety of tools to assist you with your daily market analysis and trading operations. Graphs and charts may be customized to meet your own aesthetic preferences. There are a plethora of trading tools available for a variety of purposes, including market analysis, trade management, establishing price alerts, and much more. Expert advisors (EAs) are authorized to be utilized in conjunction with automated trading systems.

Review: With such a diverse range of trading tools at your disposal, you may conduct a thorough examination of every trade instrument. This can assist you in accurately anticipating market moves and identifying trading signals in a timely way.

Review: In addition to the large number of trading tools that are currently available with the MT4 platform, you may download hundreds of additional tools from the MQL marketplace, which is accessible directly from inside the platform's user interface. You will be able to locate a variety of free and paid trading tools for use with a variety of different trading techniques. Technical indicators, trading signals, and trading robots are all used in the stock market.

There is a 'Insights' page on Hugo's Way, which offers several 'how-to tutorials' as well as crucial site information, such as planned downtime, site changes, and other similar things.

Review: Don't be concerned if you have just rudimentary understanding of cryptocurrency and how it operates. To make depositing and withdrawing from your Hugo's Way account as simple as possible, the broker manuals offer instructions on how to acquire Bitcoin.

Review: There are also information papers on what Forex is, all there is to know about Cryptocurrencies, how to get started in the trading world, and much, much more.

Review: Hugo's Way provides a diverse range of trading instruments totaling more than 150. The broker provides 7 major forex pairs, 21 forex crosses, and 27 forex exotics, in addition to a number of other products. In addition, there are 38 crypto assets, 6 metals, 11 indices, 73 stocks, 1 future asset, and 3 energy instruments to trade on the exchange. Whatever you are looking to trade, there is something for everyone on this website. The broker is always growing their product offering and introducing new instruments in response to the demands of traders.

Review: 55 Currency Pairs, including major, minor, and exotic FX crosses, 73 Stocks representing some of the world's most well-known corporations 55 Currency Pairs In addition to the prominent Bitcoin and Ethereum digital currencies, there are 38 cryptos represented by the NASDAQ 100 (NAS100), the UK 100 (UK100), the AUS 200 (JPN225), the GER30 (FRA40), the SPX 500 (US30), and others.

Commodities such as gold, silver, and oil are examples of this.

Review: Hugo's Way offers CFD trading, which is one of the most common types of derivatives trading. CFD trading is available through a variety of platforms. Trade long (buy) or short (sell) on a wide range of various markets and financial instruments without having to physically possess the assets you are trading.

Review: If you feel the price of an underlying instrument is at risk, you might acquire a CFD on that asset. If you feel the price of the instrument will decline, you may want to try selling a CFD on it. The difference in the asset's price between when you open and close the CFD represents your profit or loss, less any broker costs you may have incurred.

Review: As a result of using leverage in your trading, you will have the possibility to earn returns that are much more than your initial investment, while also experiencing losses that are greater than your initial investment. Before you trade leveraged positions with Hugo's Way or any other broker, make certain that you understand what leverage is and how it works in general.

Review: Every customer receives wallets in the following currencies: USD, EUR, GBP, CAD, AUD, and BTC. Wallet-to-wallet transfers are possible, as is the transfer of money from wallet to MT4 account and the other way around. Upon registration, all clients will have the option to make bitcoin deposits. The usage of additional deposit methods such as credit cards and bank transfers, however, is restricted to verified clients only.

Review: All spreads are subject to change depending on market circumstances. The average spread for the EURUSD is around 0.7 pips on average. For each lot exchanged, a fee of $5 is levied against the trader. The trading conditions are quite competitive when compared to those offered by many other online brokers.

Review: There are no recurring account fees to incur in order to get access to higher levels of leverage. There are no predetermined requirements, such as trading a specific number of lots each month in order to benefit from high leveraged trading. Of course, you should be aware of and comprehend the dangers associated with trading leveraged positions.

Review: Signing up on the site is absolutely free, and deposits as little as $10 for Bitcoin are accepted. Hugo's Way is a forward-thinking broker that was one of the first to accept cryptocurrency deposits and withdrawals.

Review: The "Hugo's Way MT4 ECN Account" is the actual account type that is being provided. The largest amount of leverage available is 1:500. Choose between individual and business accounts if you want to save money.

Review: Demo accounts are provided to clients at no cost and with no risk to them whatsoever. With a leveraged setting of your choosing, you may credit the demo account with a maximum of $100,000 in credit. It is possible to learn how to trade online with virtual funds while also becoming familiar with the broker's services and platforms by using these accounts.

Review: Accounts may be opened in the following currencies: EUR, USD, GBP, CAD, AUD, BTC. Currency translation costs are not charged while using a bank account in your home currency, which makes the different currency possibilities a valuable asset.

Review: Hugo's Way provides live help 24 hours a day, seven days a week in the form of live chat, email, or call back request. The assistance center contains a section titled Frequently Asked Questions (FAQs), which functions similarly to a knowledge base. More than 60 questions and answers on typical topics such as account administration, security, trading and other topics are included in the book.

Review: Customer service may be reached by email, live chat, the contact us form, or the'request a call back' form. They respond quickly and courteously, and they are thorough in their replies. Whatever your query may be, they are available and willing to assist you.

Review: When it comes to finance, Hugo's Way offers a wide range of quick and simple solutions to choose from. Wire transfer, credit/debit card, and cryptocurrency are all acceptable methods of payment.

Review: Most major credit and debit cards are accepted, including American Express and Discover. Deposits ranging from $50 to $600 per transaction are accepted using credit and debit cards such as Visa and MasterCard. When making withdrawals, the monies from the card must be returned to the card. The proceeds can then be sent to your bank account by Bitcoin or bank transfer. There are no fees associated with this service, and payments are handled immediately.

Review: This approach is utilized for both deposits and withdrawals, and it is quite convenient. The minimum deposit is $50, and there is no upper limit on the amount that may be deposited. This is the principal payment method for all clients, even those who have not been verified. If you don't already have Bitcoins, Hugo's Way provides a simple, step-by-step tutorial on how to purchase Bitcoins from partner websites using a credit card. There are no transaction fees associated with this product. Payments made with Bitcoin are processed within 1-3 hours.

Review: The minimum deposit is $100, and there is no upper limit on the amount that may be deposited. Bank transfers can take up to seven days to reach the trader's account, and the same is true for the other way around. When making a bank transfer, a transaction fee of $25 is levied.

Review: Vouchers for VLoad are accepted for deposits in either EUR or USD. The monies are transferred and processed in real time. There are no fees associated with this type of payment.

Review: To create a Hugo's Way account, go to the Hugo's Way website and click on the 'Sign Up' button located at the topmost right hand side of the page. You may also fill out the form on the website's home page, which is also available.

Review: Sign up is as simple as entering your name, email address, and password and clicking 'Signup'. An email verification message is sent to the email address that was entered during the registration process. To proceed with the account setting procedure, click on the link provided in the email. Fill out the one-page application and submit it. The newly created account has been activated and is ready to be used. You will be requested to log into the customers' area after clicking on the link. Clients will be able to open new real and demo trading accounts, fund them with funds, and begin trading right away from the clients' area.

Review: What is the minimum deposit amount for Hugo's Way? Hugo's Way requires a $10 down payment as a bare minimum requirement. When compared to some other brokers, who may need a minimum deposit of $200 or more, this is a comparatively low amount to put down on the table. It is possible to test the broker's service with a modest amount of cash due to the minimal minimum deposit requirement. This allows you to determine whether or not they are a good fit for your requirements. Additionally, it can be a useful approach to gain experience trading in a real-time trading environment, albeit with a smaller initial investment.

Review: How do I make a monetary contribution to Hugo's Way? Hugo's Way accepts deposits in the form of Bitcoin and Bank Wire, as well as credit and debit cards from Visa and Mastercard brands. This is particularly useful for those of you who prefer cryptocurrency funding, as just a few brokers presently accept cryptocurrency as a deposit method.

Review: With the exception of wire transfers, which cost $25 for deposits up to $5,000 in value, there are no deposit fees associated with funding your Hugo's Way trading account. You may wish to double-check if any fees are charged by any third-party payment providers that you may be utilizing.

Review: Hugo's Way accepts withdrawals in the form of Bitcoin and Bank Wire, as well as Visa and Mastercard credit and debit cards, among other payment methods. The same can be said for those of you who have cryptocurrency wallets and wish to make Bitcoin transfers to and from your trading account in a simple manner.

Review: There are no fees associated with withdrawing your funds; however, any further winnings will be subject to withdrawal fees, which vary according on the type of withdrawal chosen. Some third-party payment processors may levy extra costs on top of the transaction fees.

Review: Hugo's Way charges a commission fee of $5 each 1 trading lot executed on their platform. If you choose to trade with a lesser lot size, the commission cost will be modified in accordance with the lot size you want to trade with. Suppose you opt to trade with 0.5 lots and you are charged $2.50 for the transaction.

When you consider that Hugo's Way spreads are pretty narrow and that they use a STP/ECN methodology to ensure that trades are executed at the best possible pricing, this is a highly competitive fee charge.

Review: Hugo's Way does not charge a fee for accounts that have been inactive for a period of time. This helps to guarantee that you don't get any unpleasant shocks if you haven't logged into your account in a long period. It is known that certain brokers would take money from a trader's account if the trader does not use the account for an extended period of time. It is important to note that these costs are frequently buried deep inside the fine print of the terms and conditions, so it is important to keep an eye out for them.

Review: Hugo's Way provides a single ECN/STP account for all of its customers. This implies that all transactions are routed directly to the liquidity provider without the need for any dealing desk interaction, hence eliminating any potential conflicts of interest between the broker and the investor. It also guarantees that your transactions are completed in a timely and efficient way with the least amount of slippage.

Review: Hugo's Way does provide limitless MT4 demo accounts at no additional cost. You have the option of selecting the deposit size for your demo account and practicing trading on the MT4 platform. This will help you to gain a feel for online trading as well as the trading conditions offered by the broker. A demo account is an excellent tool for learning how to trade online without putting your real money at risk.

Review: You should be aware that spreads might change between demo and live trading accounts, which should be taken into consideration. This is due to the fact that demo accounts do not always make advantage of real-time market liquidity. Due to these differences, there might be a difference between bid and ask prices, which can have an effect on some trading techniques, particularly those that rely on scalping.

Review: Hugo's Way offers varied spreads that start at 0 pips and go up from there. They operate as an ECN/STP broker, which means that they obtain pricing information directly from the liquidity sources they deal with (LPs). Because of this, orders for trades are performed at the best bid/ask prices that are currently accessible from the LPs.

Review: Generally speaking, the greater a broker's liquidity pool is, the better the pricing and execution speeds that may be obtained from that broker.

Review: There are a variety of leverage settings available, ranging from 1:50 up to 1:500. While high leverage allows you to trade greater position sizes, it can also raise your total risk exposure because of the increased exposure.

Review: The setting of leverage at the establishment of a MetaTrader account is solely applicable to Forex and metals trading (Max 1:500). The rest of the market has fixed leverage in the form of the following ratios: The following are the ratios: 1200; energies: 1100

Stocks trade at 1:20 p.m.; cryptocurrencies trade at 1:100 p.m.

The following are the margin rules for Hugo's Way:

100 percent of the time, the margin call is made.

70 percent of the population is at risk of being stopped.

Review: You may view your current margin level on either the desktop or mobile versions of the MT4 trading platform. Keep in mind that if your margin level reaches 100 percent, you will receive a margin call and will not be allowed to initiate any further trades until the call is resolved.

A stop out will occur if your margin falls below 70%, at which point MT4 will begin automatically closing open positions one by one in order to prevent future losses that might result in a negative balance.

When it comes to news events, Hugo's Way states that you have the freedom to hedge, scalp, and trade.

Review: Hugo's Way does not yet provide Islamic accounts, but the company has said that they want to do so in the future. If this is something that is important to you, you should check back later to see how things are doing with this account type.

Review: Massive assortment of trading instruments across a wide range of asset classes is available at Hugo's Way. Forex, commodities, cryptocurrency, stocks, shares, indices, metals, energies, and CFDs are all examples of financial instruments.

Review: For further information on how to start a Hugo's Way trading account, visit the Sign-Up page on the broker's website and complete out the required information. You will get an email with a link to the second step of the signup process, where you may complete your registration.

Review: You can verify your account once you have completed the sign-up procedure, or you can proceed to the "My Accounts" area and make your initial deposit to begin the process of creating your Live Trading Account.

Review: Hugo's Way strives to accept your account the same business day it is submitted. However, in certain rare instances, it may take up to 24 hours or until the following working day.

Review: Your Hugo's Way account will be verified when you have submitted identity and proof of address documentation to us. Examples include a passport, driver's license, national identification card, utility bill, bank statement, and other similar documents.

Review: Hugo's Way provides users with the user-friendly MetaTrader 4 (MT4) trading platform, which is available on desktop, online, and mobile platforms. Hugo's Way's MT4 trading platform is absolutely free to use, and it is the platform of choice for millions of traders all around the world, including the United States.

Review: MT4 platforms, such as Hugo's Way, are available for download straight from the broker's website. Alternatively, you can download MetaQuotes Trading Station (MT4) and log into the platform with your Hugo's Way account login information. If you already have a trading platform from another broker, you can continue to use it with your Hugo's Way trading account as well.

Review: Hugo's Way is located in the Caribbean country of St. Vincent and the Grenadines. This is a popular location for internet trading firms to establish themselves.

Review: At this time, Hugo's Way is not regulated, but the company claims that they are taking the required measures and examining alternative regulatory jurisdictions in order to ensure that their clients receive the greatest possible protection.

Because they are not regulated, they are unable to provide some protections, but they are able to provide certain trading conditions without the restrictions that a licensed brokerage may impose.

Anyone from anywhere in the world can establish an account with Hugo's Way unless doing so would be in violation of local law or regulation.

Review: We do not believe that Hugo's Way is a ruse to defraud people. Traders from all over the world may take advantage of their established online brokerage business, which provides a variety of various goods and services to them.

Review: Hugo's Way help may be reached by live chat, email, or by submitting a call back request form.

Review: Hugo's Way is an online broker based in St Vincent and the Grenadines that offers very competitive trading conditions to traders all over the world, with the exception of some countries where they are unable to do so due to regulatory restrictions. Hugo's Way is a member of the FXCM group of companies.

Review: More than 150 assets, including over 30 cryptocurrencies, are available for trading on the broker's user-friendly MetaTrader 4 platform, which is designed to be simple to use. Numerous traders choose MT4 over other platforms, particularly because it is available in all of its versions: web-based, desktop-based, and mobile. However much or little previous experience you have, the platform is widely considered as the industry standard among both newcomers and seasoned veterans.

Review: In addition, the broker states that it is a real STP broker that provides clients with ECN connection. In other words, there is no potential conflict of interest between the broker and the trader. They provide narrow spreads, cheap fees, and quick transaction execution speeds, all at the lowest possible pricing with the least amount of slippage in the marketplace.

Review: Hugo's Way has also implemented security features such as KFC, 2FA, SSL, and other similar technologies. As a result, all traders will benefit from our effort to maintain a safe trading environment. There are tutorials on how to acquire Bitcoin, how to comprehend the markets, and a variety of other topics. Although there is no telephone number to contact in order to reach customer service, you can request a call back.

Review: Located in the United Kingdom, Hugosway is an online broker that specializes in the MetaTrader 4 FX trading platform. In addition to over 150 trading instruments and more than 50 currency pairings on the trading platform, traders may trade CFDs on stocks, silver, gold and indices as well as oil, bitcoin and other cryptocurrencies, among other things. Due to the fact that Hugosway is not a licensed broker, traders may run the risk of losing their money. Hugosway, on the other hand, has a plethora of advantages and provides excellent customer service because they have a customer support team available 24/7.

Review: Hugosway is an offshore broker that is owned by the St Vincent and the Grenadines-based firm Hugosway LTD. Hugosway is a broker that specializes in the Caribbean. Hugosway is a very young foreign exchange broker, having only been in operation since 2017.

Review: Despite the fact that Hugosway is not a registered forex broker, there are several advantages to working with them. A trading platform called MetaTrader 4 is used by Hugosway to facilitate the trading of more than 150 products, including CFDs and Forex.

Review: However, despite the fact that Hugosway is a younger broker, they offer a lot of fantastic prices and have built up a strong reputation by having a dedicated customer service team on the ground. They also feature 24/7 trading analytics, cheap minimum deposits, narrow spreads, and speedy transfers, all of which make them a good choice.

Review: Aside from that, Hugosway maintains a liquidity pool of over 50 different banks in order to provide its traders with the best price possible while reducing their chance of losing money. Hugosway does not operate as a market maker since they employ a Straight Through Processing (STP) execution approach and do not alter transactions in the market. Hugosway, on the other hand, does not have a dealing desk.

Review: Currently, Hugosway is not regulated by the Commodity Futures Trading Commission (CFTC). For more information, see this page. Hugo's Way is a broker that is not regulated. The Commodity Futures Trading Commission (CFTC) regulates brokers in the United States. Hugosway has stated that they are doing so in order to guarantee that they are working with a regulating body that has the best interests of their traders at heart. As a result, they want to collaborate with regulatory authorities in the future in order to become regulated, but for the time being, they are not.

As a result of the fact that many nations do not need forex brokers to be licensed, this broker is able to operate lawfully in some countries.

In order to prevent traders' accounts from losing money as a result of fraud, their third-party payments provider is controlled.

Review: Hugo's Way is a secure broker and a legally established firm in St. Vincent and the Grenadines; further information may be found here. Many prospective new merchants are concerned about the safety of doing business with the Hugosway. However, despite the fact that Hugosway is not a registered broker, they take all required safety procedures to guarantee that traders do not run the danger of losing their money without reason.

However, Hugosway continues to have special trading criteria in place, such as requiring a greater minimum deposit for average leverage and restricting certain trading techniques, such as scalping, from being used.

Review: As an addition to the restrictions, Hugosway regulates its payment service by allowing traders to implement Two Factor Authentication (2FA) through the use of an authentication app or a confirmed phone number sent through SMS. The 2FA is intended to offer traders with an additional layer of protection for their funds.

Review: In a similar vein, because Hugosway brokers place a high priority on customer service, they employ a "know your customer" method to ensure that traders register their accounts. Clients must verify their accounts by submitting evidence of identification as well as proof of residence in order to complete the registration process. As a result, there is less opportunity for fraud on the forex trading platform.

Review: Even though some traders are apprehensive about uploading such personal papers, they are safeguarded by a 256-bit Secure Socket Layer (SSL) encryption system. To put it another way, all of the papers before they are ever transported to the Hugo's Way servers are encrypted. Hackers and fraudsters are discouraged from assaulting the Hugo's Way servers in order to steal personal information, as a result of this.

Ultimately, despite the fact that Hugo's Way is not regulated, it is a safe broker to trade with.

Review: When compared to other brokers, Hugo's Way only works with the mt4 trading platform, which happens to be one of the most common trading platforms used by traders.

Despite the fact that Hugo's Way brokers only provide one trading platform, MetaTrader 4, you may access it through a variety of different means, including the MT4 WebTrader, Mt4 Windows, and MAC OS desktop programs.

Review: Hugos Way provides access to the MT4 mobile programs for Android and iOS devices, for those who like to trade on the move.

  • Trading with a single click 30 indicators and analytical tools that are already built-in

  • Expert Advisors (EAs) allow traders to automate trading tactics (EAs)

  • There are several different order kinds (pending orders, market orders, and stop orders)

  • The MT4 platform may be enhanced by the purchase of EAs, signals, virtual private server services, indicators, and other applications.

  • The MT4 platform has lightning-fast ECN trading, as well as a built-in MQL programming interface for developing custom indicators, EAs, and scripts.

  • Notifications of alerts

 

Review: The MetaTrader 4 mobile applications are designed to make trading on any mobile device as simple as possible, and they include all of the capabilities that are available on the MetaTrader 4 desktop platform.

Review: People's tastes may be taken into consideration while designing the mobile interface. Live charts of all traded assets, as well as real-time quotations that monitor the instruments that the trader selects to display, are available to traders through the applications.

The amount of money that traders have in their live accounts, as well as their order history, is also available to them. In addition, users may make changes to their orders or cancel them entirely while on the move by using the mobile app.

Review: When compared to other online brokers, Hugos Way's trading capabilities are fairly restricted, extending only to the daily market analysis and trading activities provided by MetaTrader 4. There are no market headlines, economic calendars, or analytics available for viewing on this website at this time.

Review: Hugos Way also provides a diverse range of trade assets totaling more than 150. The broker provides a wide range of crypto trading currencies, different metals pairings, indices, energy, stocks, and Hugo FX crosses, among other things.

In order to keep their clients informed and educated about forex trading, several forex brokers (like Hugos Way) provide some type of training or education to them. The broker's Insights website contains trading tutorials and how-to tips.

A few of the subjects covered in the how-to tutorials include how to acquire Bitcoin using your debit card and how to become the greatest trader.

Review: Information papers are available on Hugos Way that explain what cryptocurrencies are and how they differ from one another, what Forex is and how to get started trading, and where you can begin investing your money.

Review: In addition to basic trading information, the insights page includes detailed information about how to utilize Hugos Way's website and trading platform, as well as information about other cryptocurrency exchanges.

Review: Clients who are new to trading may wish to consider opening a demo account with Hugosway to get a better feel for the market. This broker allows you to open an infinite number of sample accounts with nothing more than your name and email address. The utilization of a demo account is an excellent technique for new traders to become familiar with the broker's platform. However, a demo account will let you to test the waters with fictitious virtual dollars, so there is a lower danger of losing money than with a real account.

Review: If you establish a demo account, you can receive a credit of up to $100,000, and you can pick between a leveraged and unleveraged trading environment. New clients can pick from a range of leverage options up to 1:500. Following the completion of the account setup process, you may begin practicing trading! If you use up all of your 'funds,' you may request more from customer care or just establish a new account because Hugosway does not place a restriction on the number of accounts you can have.

Review: Creating an account on Hugosway is simple; all you have to do is go to their website and click on the'sign up' button to get started. You will be required to provide your first and last name, as well as your email address and a password. If you are creating demo accounts, the passwords for these accounts must be distinct from the passwords for any future real accounts.

Review: Hugosway will send you a verification message when you have completed the form. This will allow you to double-check your information. To establish a live account on Hugosway, you will need to provide confirmation of your identification as well as proof of your address, which will be verified by Hugosway. Once you have completed this step, you are free to begin trading.

Review: Hugosway does not function in all nations due to the fact that each country has its own set of legislation governing broker activities. Residents of Burma, Congo, Cuba, Democratic Republic of the Congo (Republic of Zaire), Iran, Iraq, Japan, Lebanon, Libya, Malta, North Korea, Somalia, Sudan, Syria, Vietnam, and Zimbabwe are unable to trade with Hugosway due to the fact that they are not controlled by the United Nations.

Residents of the United States and Canada, on the other hand, are permitted to conduct business with Hugosway without restriction.

Review: As a broker client, you may be concerned about the trading costs you will incur, and if your accounts lose money, you may be less inclined to continue working with the broker. The good news is that when it comes to withdrawing and depositing money, Hugos Way charges minimal to no fees, depending on your payment method. You won't have to be concerned about whether or not your accounts will lose money.

In order to make deposits and withdrawals into and out of your trading account, you can use any of the major debit and credit cards that are accepted by the broker.

Review: The processing of withdrawals made using credit or debit cards on Hugos route will take place on the same working day. Profits earned while trading can be withdrawn through bank transfer or Bitcoin, however the cash that were initially put can only be transferred to the credit card that was used to make the deposit.

If you withdraw or deposit money with a credit or debit card, there are no fees assessed to your account.

Review: In addition to making deposits and withdrawals to your trading account, Bitcoin may be used to do so, although the minimum deposit is $50. The good news is that there is no upper limit to what can be done. Another piece of good news is that while using Bitcoin, there are no transaction fees to pay.

If you want to make a deposit or withdrawal on Hugos Way using a bank wire transfer, you can do so. If you make a wire transfer, the minimum deposit is $100, and it may take up to 7 days for the funds to reach your trading account.

Review: If you utilize a bank wire transfer, your accounts will lose money as a result of the $25 transaction fee that is charged. Finally, credit or debit cards, as well as Bitcoin, are the most convenient methods of funding and withdrawing funds from your Hugos Way trading account.

Review: If you don't have any Bitcoins to trade with, Hugosway brokers have partnered with websites that allow traders to purchase Bitcoins to use in their trades. The broker also provides a step-by-step guidance on how to purchase Bitcoins, making it possible for even complete beginners to get started with Bitcoin trading.

Review: Vload is a payment option that has been increasingly popular on Hugosway in recent years. In a Vload system, you purchase a voucher and then deposit the funds into your account to complete the transaction. When depositing Vload coupons, a $10 minimum deposit is required, and they may only be used for deposits in either USD or EUR. The advantage of utilizing Vload vouchers is that there are no transaction fees and that your payments will be processed immediately.

Review: HugosWay provides exceptional customer service around the clock. When we contacted their customer service department with our inquiries concerning accounts and fees, they were quite helpful. They were really educated and were able to quickly and efficiently answer all of our inquiries. Also, they were quite timely, and we didn't have to wait for anything for very long at all. HugosWay has clearly made an investment in the development of their employees. The chat feature was also used by us and we immediately learned that we were chatting with a genuine person, not a machine, after using it.

Review: You have the option of starting a live chat with a broker, sending an email to a broker, or requesting a callback. Unfortunately, Hugosway brokers do not have a phone number that you can call directly, but they are well-known for responding fast and efficiently to their chat and email inquiries. As a result, the live chat feature is the most convenient way to communicate with them.

Review: If you have a general query, you may always go to Hugosway's Frequently Asked Questions page for answers to your questions. Over 60 questions from traders have been addressed by experienced brokers, including questions regarding their trading platform, costs, managing an account, and many more!

The fact that you cannot speak directly with a broker at Hugosway is offset by the fact that they provide a wide range of alternative customer assistance options for both novice and experienced traders.

Review: At the end of the day, trading Hugo's approach is not suitable for everyone. This broker specializes in trading leveraged products, such as contracts for difference (CFDs) and foreign exchange (Forex), which have a significant risk of loss.

Review: If you have a lot of expertise trading CFDs or Forex and are prepared to accept the high risk of losing your money, working with this broker might be a smart choice for you. Hugo's Way brokers have over 150 traded assets accessible, provide 24/7 customer service, and invite traders of all skill levels to participate in their trading platform.

Review: Investing with Hugo's Way is also quite risk-free in terms of privacy, since the company has several security measures in place to ensure that all of their clients are in a safe and secure environment. They also place a great importance on assisting and teaching their clients, not just about the possibility for a high risk of losing money, but also on how to trade without incurring a large risk.

Review: The most significant disadvantage of dealing with Hugo's Way Brokers is that the firm is unlicensed, which means that there is a great danger of losing money again. Sometimes taking a significant risk is worth it in order to earn significantly more. You might always open a demo account to check whether this is the broker for you before making a decision.

Sites like Hugo's Way

Here is the list of brokers where Indians can trade Forex, Shares, CFDs, and Cryptocurrencies (Bitcoin, Ethereum):

 

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Written by Swarna Shrivastav

Swarna ShrivastavI'm an investment banker. But I also write for, and fact-check articles published by ForexBrokers.co.in. Full Bio.

 


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