Hugosway Review

HugosWay Summary
HugosWay is a CFD and Forex trading broker that was founded in 2017 and is currently headquartered in St. Vincent and the Grenadines. This Forex broker provides different financial markets and trading instruments for you to trade, as well as a low minimum deposit. However, you have to consider the limited trading accounts since HugosWay offers only one account.

This HugosWay review will give you an overview of all its features and its considerations as a Forex trading broker.

HugosWay Main Features
🛍️Established in:
2017 🛍️Headquarters:
St. Vincent and the Grenadines
⚖️Regulations:
FSA ⚖️Country of regulation:
St Vincent and the Grenadines
đź’°Minimum Deposit:
$10 🎮Platforms:
MT4
🎮Demo Account Available:
Yes đź’±Leverage:
1:500
đź’°Withdrawal fee amount:
$0 đź’°Inactivity Fee:
No
Pros
Stores client funds in segregated accounts
Publicly listed company
Performs regular on-going evaluation reports
Provides Demo Account
Wide range of account base currencies
Low minimum deposit
No deposit or withdrawal fees
No inactivity fees
More than 55+ currency pairs
Cons
Not regulated by any financial regulator
Charges CFD commissions
Background
HugosWay is a CFD and Forex trading broker that has been established in St. Vincent and the Grenadines since 2017. Currently, HugosWay operates with more than 5,000 active traders.

Safety & Regulation
HugosWay offers the storage of client funds in segregated accounts, where the funds are kept in top tier financial institutions. This Forex broker also performs an on-going evaluation of its procedures to ensure the best trading environment for its active traders and transparency in day-to-day operations.

This HugosWay review will provide you in-depth knowledge of the safety and protective measures that HugosWay takes for its active traders.

Is HugosWay Safe?
HugosWay is considered a safe Forex broker since it keeps your funds in segregated accounts and provides regular audit reports on its procedures. You will find that HugosWay is currently a publicly listed exchange company and it has over 5,000 active traders.

Pros
Stores client funds in segregated accounts
Publicly listed company
Performs regular on-going evaluation reports
Two-factor authentication provided
Cons
Not a regulated Forex broker
Regulation
HugosWay is currently in the process of being regulated by a financial regulator.

Protection
HugosWay offers protection to its clients by storing the client’s funds in segregated accounts in top-tier financial institutions. Additionally, this Forex broker performs regular evaluation reports to ensure transparency in day-to-day operations. You will also be required to input a two-factor authentication while logging into your trading account, for further safety measures.

HugosWay Fees
HugosWay provides tight spreads and low non-trading fees. You will not have to worry about deposit and withdrawal fees, since there are not any. However, you will have to consider the high commissions charged while trading CFDs.

This HugosWay reviews will inform you on the trading conditions of HugosWay and its benefits.

Pros
Low non-trading fees
No deposit and withdrawal fees
No inactivity fees
Tight spreads available
Cons
High commission required for CFDs
Trading Fees
HugosWay offers tight spreads that can go as low as 0.0 pips; however, you will have to consider the commissions charged while trading CFDs. The commissions charged by HugosWay are 5USD per lot, which is 10USD per round turn.

Non-Trading Fees
HugosWay may charge you with a commission for trading CFDs; however, it makes up for it by not requiring from you any non-trading fees. You will not be charged with any deposit fees, withdrawal fees, or inactivity fees. Inactivity fees are regularly charged by other Forex broker, so not requiring an inactivity fee is rare feature in HugosWay.

Leverage
The maximum leverage level that HugosWay offers active traders is up to 1:500.

Deposit Fees and Withdrawal Fees
Deposit Fees 0USD
Withdrawal Fees 0USD
HugosWay Fees Compared To Competitors
HugosWay JP Markets Khwezi Trade
Account Fee No No No
Inactivity Fee No Yes No
Deposit Fee 0USD 0USD 0USD
Withdrawal Fee 0USD 0USD 0USD
Account Opening
HugosWay offers one trading account for you to use, known as the Hugo Account. You will find tight spreads, low minimum deposits, and an acceptable maximum leverage level. This HugosWay review will demonstrate how to open a Hugo Account through a step-by-step guide.

Pros
Tight spreads available
Acceptable maximum leverage level
Low minimum deposit required
Fast and digital account opening process
Cons
Only one trading account available
Minimum Deposit
The minimum deposit for HugosWay trading account, Hugo Account, is as low as 10USD or its currency equivalent.

Hugo Account
HugosWay offers one trading account, the Hugo Account, for active traders. You will find that the maximum leverage level for trading is 1:500, with tight variable spreads, and a low minimum deposit required of 10USD. The tight spreads can be reduced as low as 0.0 pips.

How To Open A HugosWay Trading Account
Step One: Fill in the online application with your personal information

HugosWay -1
Fill in the online application with your personal information

Step Two: Activate the verification email and start trading.

HugosWay -2
Activate the verification email and start trading.

Deposit & Withdrawal
HugosWay does not require a deposit or withdrawal fee, and it provides a fast funding service. You will be able to choose one of six different account base currencies, with the option of selecting out of three different payment methods.

This HugosWay review will offer you a list of the different payment methods provided by HugosWay.

Account Base Currencies
The account base currencies that are available for active traders of HugosWay are: EUR, USD, GBP, CAD, AUD, BTC

Deposits
Deposits with HugosWay do not require a fee, and you do not have to wait a long time for your deposits to be processed. The deposit process would only take approximately 24 hours, or 1 business day, to be processed. You can choose from the six dissimilar account base currencies, and the diverse payment methods. HugosWay offers you the option of making a deposit with different methods such as: Credit\Debit Card, Bank Transfer, and Electronic Payments.

Pros
No deposit fee
Different account base currencies
Fast deposit process
Several types of payment methods
Cons
None
HugosWay Deposit Options
Bank Wire Transfer
Credit\Debit Card
Electronic Wallet
Withdrawal
HugosWay withdrawals are a beneficial factor for active traders. One of the biggest issues in Forex trading is the slow withdrawal process. However, with HugosWay, withdrawals are processed in approximately 1 business day. You also will not have to concern yourself with paying a withdrawal fee, since withdrawals are free. Additionally, HugosWay offers a variety with account base currencies and payment methods; you can choose from six different account base currencies and three different payment methods.

Pros
No withdrawal fee
Different account base currencies
Fast withdrawal process
Several types of payment methods
Cons
None
HugosWay Withdrawal Options
Bank Wire Transfer
Credit\Debit Card
Electronic Wallet
Trading Platforms
HugosWay provides one trading platform for you to use at your disposal. This HugosWay review will demonstrate the trading experience of the trading platform, MetaTrader4, with its web, desktop, and mobile trading platform.

MetaTrader4
Web Trading Platform
With MetaTrader4 web trading platform, you will have the option for 4 pending orders, which are: Buy Stop, Sell Stop, Buy Limit, Sell Limit. These four pending orders are the most basic and most essential trading orders. You also have the option of a Stop Loss order, which is a pending order that allows you to buy or sell a stock once it reaches your target price.

With HugosWay MT4 web trading platform, you will have the option of a two-step login process. You will have the initial login process and a two-step factor authentication to rely on to protect your MT4 account. Additionally, you will be allowed to view your performance history; this includes fee reports, past trades, and trading portfolios.

The MT4 web trading platform allows you to be alerted through email notifications for any price movements that you want to know about. These email notifications allow you to be instantly notified when a price moves in the position you want.

Pros
Allows hedging
Allows scalping
EAs available
Customizable indicators
Available for Windows and Mac
User-friendly format
Two-step login process available
Cons
None
Desktop Trading Platform
With MetaTrader4 desktop trading platform, there are 4 pending options, which are the most basic and also the most important pending orders you will find in any trading platform. These pending orders are: Buy Stop, Sell Stop, Buy Limit, Sell Limit. You also can use the Stop Loss order, a pending order that permits you to buy or sell an instrument once it is at its ideal position for you.

Fortunately, you can find a two-step login process, for additional security. It is up to you to use only the initial login process that protects your funds and personal information or use the two-step factor authentication. In addition, the desktop trading platform allows scalping and hedging, as well as Expert Advisors (EAs).

The HugosWay desktop trading platform is available to download on Mac and Windows, which means that you will receive notifications on the desktop of your device. You can activate it through your MT4 account, to be alerted of any price movements of your choosing.

Pros
Downloadable on Mac and Windows
Customizable indicators
Allows hedging and scalping
Price alerts and notifications
User-friendly and easy to navigate
Two-step factor authentication process available
Cons
Basic pending orders only
Mobile Trading Platform
With MetaTrader4 mobile trading platform, you will have the option for 4 pending orders, which are: Buy Stop, Sell Stop, Buy Limit, Sell Limit. You will also have access to the Stop Loss order, which is a pending order that allows you to buy or sell a stock once it reaches your target price. This mobile application is best for traders who like dealing on-the-go, trading anytime and anywhere.

With HugosWay MT4 mobile application, you will not have the option of facial recognition or fingerprint recognition as a second login. You will only have the initial login process with your username and password. However, to make up for that disadvantage, you can always your performance history; this includes fee reports, past trades, and trading portfolios.

The MT4 mobile application platform allows you to be alerted through push notifications for any price movements that you want to know about. These push notifications set up on your mobile device allow you to be immediately notified when a price moves in the ideal position for you.

Pros
Allows hedging and scalping
Customizable indicators
Easy to navigate
Available for Android and iOS
Available to trade on-the-go
Cons
No facial recognition
No fingerprint recognition
Markets & Financial Instruments
HugosWay offers access to six different financial markets and over 150 financial instruments to trade. You will find the different financial markets available in this HugosWay review.

Pros
Over 104 shares available on HugosWay
6 different metals provided
3 different energies available
11 most popular indices are offered
45 diverse cryptocurrency available
Cons
None
What HugosWay Offers
Forex Metals
Indices Stocks
Energies Cryptocurrencies
Markets Research & Trading Tools
HugosWay offers limited, but extensive trading tools that will help enhance your trading strategies. The two trading tools that are available for you are: MT4 tools and Affiliate Program. The Affiliate Program is a program that allows you to earn commission when other clients sign up to join HugosWay. As for the MetaTrader4 Tools, they are a set of tools that are available through the platform to enhance your trading decisions.

HugosWay Tools
MetaTrader4 Tools Expert Advisors
Affiliate Program
Pros
The affiliate program will help you earn commission
MT4 tools are available for all traders
Cons
Limited range of trading tools
Market Research
HugosWay does not provide any market research materials.

Customer Service
HugosWay offers three different means of communication with a fast and reliable customer service team. You will be able to use different languages with the customer service team that is available 24/7.

This HugosWay review will list the different means of communication of the customer team.

Pros
Fast and reliable customer service team
Different means of communication
Relevant answers from customer service
Available in several languages
Cons
None
Means Of Communication
Live chat
Phone support
Email support
Contact Form

Client Education
You will find that HugosWay provides two different educational resources, which is limited but it is very thorough in its education. The FAQ and Insights is a self-help educational resource that will provide you with any potential inquiries you may have. As for the Demo Account, you will be able to be a part of a simulation and hands-on approach on how to learn all about HugosWay and its features.

This HugosWay review will demonstrate a step-by-step guide on how to open a Demo Account.

Client Education Resources
FAQ and Insights
Demo Account
How To Open A Demo Account
Step One: Fill in your personal information on the online application.

HugosWay Demo -1
Fill in your personal information on the online application.

Conclusion
HugosWay is a CFD and Forex trading broker that was founded in 2017 and is currently headquartered in St. Vincent and the Grenadines. This Forex broker provides different financial markets and trading instruments for you to trade, as well as a low minimum deposit. However, you have to consider the limited trading accounts since HugosWay offers only one account.

HugosWay offers the storage of client funds in segregated accounts, where the funds are kept in top tier financial institutions. This Forex broker also performs an on-going evaluation of its procedures to ensure the best trading environment for its active traders and transparency in day-to-day operations.

Methodology

All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. Our reviews and overall scores are based on the key areas above, in a combination with our opinion and commentary.

The reviews are shared and discussed with the brokers, but the authors of our website always have the final word. Furthermore, we always strive to keep the information on our website updated and relevant for our readers.

What helps us stand out is that we always test our brokers with an anonymous live account, to ensure we deliver the most accurate information and experience to our readers. Finally, our reviews and evaluation are always independent of any financial compensation we may receive from the brokers.

Risk Disclaimer

There is a very high degree of risk involved in trading securities.

With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more at Wikipedia.

All investments involve risks and are not suitable for every investor. The value of securities may fluctuate and as a result, clients may lose more than their original investment. The past performance of a security or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against the loss, in a down market.

There is always the potential of losing money when you invest in securities or other financial products. Investors should consider their investment objectives and risks carefully before investing. More details here.

Looking for more information on brokers and trading? Have a look at our trading guides:

Review Sources

 

With just MetaTrader 4 available alongside a handful of trading tools, Hugosway offers a limited product range and struggles to compete with industry-leading forex brokers. However, it offers an exceptional international trading experience to traders that look for high leverage trading.

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