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Trading Critique has covered some of the most significant things for you to consider when picking the finest broker for your online trading requirements in this extensive review of Hugo’s Way.
Hugo’s Way is a multi-asset broker and worldwide online financial trading platform with over 150 trading instruments available for you to trade upon that user-friendly MT4 platform. They offer excellent trading conditions, such as tight spreads, low commissions, quick trade execution, and a variety of account funding options. It accepts all traders and trading tactics, including scalping and hedging. For almost all of your trading account demands, the broker provides a competent support service available for 24 hours.
Image 1: Home page of Hugo’s Way Website
Image Copyrights reserved to Hugo’s Way
Hugo’s Way was created in 2017 and is headquartered in the Caribbean nation of St. Vincent and the Grenadines. It is not a regulated trading brokerage. Hugo’s Way values your security and offers the option of enabling two-factor authentication (2FA) on your account. With this short method, users may rapidly safeguard their account & data against unauthorized access attempts. The 2FA is free, and users may turn it off at any time if they no longer wish to use it. The money of customers is not protected by the Federal Deposit Insurance Corporation (FDIC).
It shall be controlled by, construed, and enforced by the laws of St Vincent and the Grenadines in all respects, without regard to considerations of conflict of laws.
Image 2: Two Factor Authentication of Hugo’s Way website
Image Copyrights reserved to Hugo’s Way
All monies placed by Hugo’s Way clients are stored in a separate bank account, either in the name of the customer or in the name of the broker. To guarantee that all assets and money can be monitored individually, all segregated accounting records are safeguarded within their internalized system. In the unusual event that Hugo’s Way is unable to continue operating, client monies are held absolutely off-balance and will never be utilized to pay creditors.
Image 3: Segregated Fund Accounts of Hugo’s Way
Image Copyrights reserved to Hugo’s Way
Hugo’s Way is available in over 188 countries, making it truly worldwide. The restricted countries are described below:
Table 1:Restricted countries of Hugo’s Way
 RESTRICTED COUNTRIES |
|---|
|
The Bahamas
Cambodia
Cuba
Iran
Japan
Libya
North Korea
Panama
Somalia
Pakistan
Sri Lanka
Botswana
Burma (Myanmar)
The Democratic Republic of Congo
Ethiopia
Ghana
Iraq
Lebanon
Malta
Republic of the Congo
Sudan
Syria
Trinidad and Tobago
Tunisia
Vietnam
Yemen
Zimbabwe |
The base currencies available in Hugo’s Way are:
Hugo’s Way provides CFDs on a variety of assets, including FX pairs, major, minor, and exotic crosses, European and US stocks, such as Amazon, Apple, and Netflix, precious metal pairings, Natural Gas, indexes, and cryptocurrencies.
Table 2 : FX Majors, Crosses & Exotics of Hugo’s Way
| FX Majors | FX Crosses | FX Exotics | |||||
|---|---|---|---|---|---|---|---|
|
AUGUST EURUSD GBPUSD NZDUSD USDCAD USDCHF USDJPY |
CATCH AND AUDREY AUDIO ACAD |
EUROPE EURGBP EACH EURCAD MURAD |
NZDCAD GBPNZD GBPJPY GBP CHF GBPCAD |
EUREKA NORSK EURNOK EURMXN GBP EURCZK USDPLN |
USDCNH USDMXN GBPSEK GBPNOK USDHKD EURZAR AUTRY |
USDNOK USD ZAR USDTRY USDHUF USDSEK USD USDCZK |
ERP LN USDILS USDSGD EURHKD EUREKA USD RUB |
Table 3 : Available Cryptocurrencies of Hugo’s Way
| Cryptocurrencies | |||||||
|---|---|---|---|---|---|---|---|
|
XMRUSD |
DASHED |
BTCUSD |
SABIT |
EOSBIT |
NEED |
IOTAUSD |
ADAMS |
|
XRPBIT |
DASHBTC |
MOST BIT |
OMGUSD |
EDOUARD |
NEOBTC |
YOTTABIT |
DOGEUSD |
|
XRPUSD |
BITES |
XMRBTC |
QUBIT |
TOBIT |
LTCUSD |
EXPOSED |
LOTUS |
|
ZECBTC |
BCHUSD |
TRUST |
ETHBTC |
USD |
LTCBTC |
ETPBIT |
|
|
SECOND |
BCHBTC |
SAND |
EOSUSD |
OMGBIT |
USDTUSD |
ENTHUSED |
|
Table 4 : Available stocks, Indices, Metals, Energies & Futures of Hugo’s Way
| Stocks | Indices | Metals | Energies | Futures |
|---|---|---|---|---|
|
AAPL ABNB BA BABA C CBKG DASH- DBKGn EBAY GOOG- NFLX- WMT |
AUS200 JPN225 ESP35 NAS100 EUSTX5 SPX500 FRA40 UK100 GER30 US30 |
AUGUST XAUEUR CAUSED XPTUSD |
oil |
DOLLAR |
Hugo’s Way only offers one trading platform to its customers which is MetaTrader 4. (MT4). This is one of the most widely used platforms in the market, and it provides traders with a diverse set of indicators & tools.
MT4 Trading of Hugo’s Way
MT4 Trading for Windows
MT4 Trading for Web
MT4 Trading for MAC
MT4 Mobile Trading
Hugo’s Way utilizes the MT 4 platform to provide better trading conditions. This is without a doubt the most popular CFD trading platform in the world, facilitating automatic, manual, and social trading. It allows traders to concentrate on trading while Hugo handles the rest.
With comprehensive technical analysis, a versatile trading platform, algorithmic trading & expert advisers, along with mobile trading applications, the MT4 trading platform has plenty to offer traders. Furthermore, its user-friendly design allows for the easy execution of any trading strategy, regardless of its intricacy. You may trade regardless of the current market scenario since you have a selection of market, pending, and stop orders, as well as a trailing stop, at your disposal. Furthermore, the platform includes a fully working sample account with great support and exposure to a wealth of instructional materials.
Image 4: MT4 Trading Platform of Hugo’s Way website
Image Copyrights reserved to Hugo’s Way
With MT4 for Windows, you can make the most of your Hugo’s Way trading experience. When the trading account is properly set up, an email with a password would be sent to the email address, providing users access to all the features of the trading platform.
Image 5: MT4 Trading Platform for Windows of Hugo’s Way website
Image Copyrights reserved to Hugo’s Way
With the MT4 WebTrader, trading is as simple as clicking a few buttons. With no additional software, you may trade Hugo’s Way of any internet browser, across any device.
Image 6: MT4 Trading Platform for Web of Hugo’s Way website
Image Copyrights reserved to Hugo’s Way
MT4 isn’t commonly available on macOS, you’ll have to run it using a Virtual Machine or software. It allows users of Unix-based computers to run applications designed for Microsoft Windows platforms.
Image 7: MT4 Trading Platform for MAC of Hugo’s Way Website
Image Copyrights reserved to Hugo’s Way
With MT4 mobile trading, traders never miss a trading opportunity by being up-to-date on the newest market events. MT4 mobile, which is intended for smartphones and tablets, performs all trading features and includes a wide range of analytical tools, including technical indicators & other graphical tools. It is accessible 24 /7 from any location on the planet. It is compatible with iOS and android and comprises a complete range of trading orders, analytics, and technical indicators.
Image 8: MT4 Mobile Trading Platform of Hugo’s Way Website
Image Copyrights reserved to Hugo’s Way
The Hugo’s Way regular trading week begins on Sunday at 19:00 (7:00 PM EST) and closes on Friday at 16:00 (4:00 PM EST).
Hugo’s Way provides you with 3 different types of accounts which are the Hugo Account, Corporate account, and Demo account.
Hugo’s Way provides you with a single trading account, known as the Hugo Account. The maximum trading leverage is 1:500, with tight variable spreads and a minimal initial deposit of $10. Spreads can be tightened to as little as 0.0 pips.
Image 9: Hugo Account Opening Page of Hugo’s Way Website
Image Copyrights reserved to Hugo’s Way
Hugo’s Way offers its users an unlimited number of MT4 Demo accounts. Traders may enhance their trading abilities and learn everything about the foundations of Forex trading, laws and regulations, and market movements and crises with this. You may pick a leveraged option when you establish a demo account, which can be funded for up to $100,000. New clients have the option of using a leverage ratio of up to 1:500. You may begin practicing trading after the account is set up.
Image 10: Demo Account Opening Page of Hugo’s Way Website
Image Copyrights reserved to Hugo’s Way
The accounts created for business are always called corporate accounts. It enables faster transactions (buy/sell/transfer) and greater trade efficiency.
Image 11: Corporate Account Opening Page of Hugo’s Way Website
Image Copyrights reserved to Hugo’s Way
Hugo’s Way offers ECN (Electronic Communication Network) trading order execution and STP (Straight Through Processing) trading order execution, which is enabled on all accounts. All trades are routed directly to the Liquidity Provider as a result of this.
By offering clients real ECN connections, Hugo’s Way is capable of offering market-leading prices and trading conditions via the MT4 platform. It was designed for day traders, scalpers, and expert advisers. Through STP/ECN execution, you may interact with more than 50 banks & liquidity providers. You can start trading with the world’s leading banks and other financial institutions now, through the real-time ECN trading environment.
Image 12: ECN Execution of Hugo’s Way Website
Image Copyrights reserved to Hugo’s Way
Hugo’s Way follows the STP (Straight Through Processing) methodology of execution. This implies that there will never be any dealing desk manipulation or re-quotes when Hugo’s Way customer conducts a trade. Every trade is handled through Hugo’s Way aggregator, which ensures that you get the best rates possible because your trades are drawn from a pool of top-tier liquidity banking institutions.
Image 13: STP Execution of Hugo’s Way Website
Image Copyrights reserved to Hugo’s Way
Hugo’s Way offers CFD trading, one of the most popular types of derivatives trading. CFD trading allows you to trade long (buy) or short (sell) on a variety of markets and financial instruments without having to possess them in real form. You could buy a CFD mostly on the underlying instrument if you think the price would go down. Probably sell a CFD just on the instrument if you feel the price will decline. The profit or loss is the difference in the asset price between when you open & close the CFD, less any broker costs.
If a customer has not traded in the past 6 months, they will be charged a $10 inactivity fee (or equivalent in another currency). Hugo’s Way provides tight spreads as low as 0.0 pips; nonetheless, while trading CFDs, you must remember the charges paid. Commissions are levied at a rate of $5 per lot, or $10 every round turn.
Hugo’s Way requires a minimum deposit of $10 to open an account. Bank Wire (Bank Transfer), VISA, MasterCard, Bitcoin, and VLoad are the options for funding Hugo’s Way Account.
Table 5 : Deposit Methods, Fees, Max., & Min., Deposit Limits, and Processing Time of Hugo’s Way
| Deposit Method | Fees | Minimum Deposit Limit | Maximum Deposit Limit | Processing Time |
|---|---|---|---|---|
|
VLoad |
5% |
$10 |
No Limit |
Instant |
|
Credit or debit cards |
0% |
$10 |
No Limit |
1-6 hours |
|
Wire Transfer |
0% |
$100 |
No Limit |
7 days |
|
Bitcoin |
0% |
$50 |
No Limit |
1-6 hours |
|
Bitcoin via Instacoins |
0% |
$10 |
No Limit |
1-6 hours |
When processing withdrawal transactions, Hugo’s Way does not charge any fees. The methods for withdrawing money from Hugo’s Way Account include Bank Wire (Bank Transfer), Bitcoin, and VLoad.
Table 6 : Withdrawal Methods, Fees, Maximum & Minimum Deposit Limits, and Processing Time of Hugo’s Way
| Withdrawal Method | Minimum Withdrawal Limit | Maximum Withdrawal Limit | Processing Time |
|---|---|---|---|
|
Bitcoin |
$10 |
No Limit |
1-6 hours |
|
VLoad |
$10 |
No Limit |
Instant |
|
Wire Transfer |
$25 |
No Limit |
7 days |
Hugo’s Way allows for a lot of flexibility in terms of leverage, with 1:500 as the maximum leverage ratio. Those who want to trade with no leverage may set their ratio at 1:1, whereas those who want to trade between the highest and lowest ratios can select from a wide choice.
Table 7 : Assets and the Leverage Ratio of Hugo’s Way
 Assets |
 Maximum Leverage |
|---|---|
|
Forex Currency Pairs |
1:500 |
|
Cryptos |
1:100 |
|
Indices |
1:200 |
|
Metals |
1:500 |
|
Energies |
1:200 |
|
Stocks |
1:20 |
Affiliates earn $2 (LEVEL 1) for each lot traded by a referral. The Affiliate Program has a five-level structure, which means that the customer can earn for up to five levels. A capped, extra fee of $0.50 is awarded to Affiliates who reach Level 5, possibly increasing their earnings to $2.50 per traded lot.
Image 14: Affiliate Program of Hugo’s Way Website
Image Copyrights reserved to Hugo’s Way
Hugo’s Way offers an ‘Insights’ page containing several ‘how-to guides’ as well as significant site information like expected downtime, site changes, and so on. Brokers who do the work to understand the hazards of the financial markets will frequently give free or paid instruction so that you may trade forex properly. Trading seminars, PDF manuals, live instructional broadcasts, videos, FAQs, glossaries of significant forex words, and trading courses are all examples of educational resources.
Image 15: Insights of Hugo’s Way Website
Image Copyrights reserved to Hugo’s Way
Client services are available by chat form or Live Chat 24 hours a day. Hugo is available for conversation at any moment by simply pressing the live-chat bubble just on the bottom. It provides customer assistance 24 hours a day, allowing clients to speak with one of our courteous and knowledgeable customer care representatives. English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish are among the languages supported by Hugo’s Way.
Table 8 : Customer Support Section of Hugo’s Way
 Social Media Pages of Hugo’s Way |
|
|---|---|
 Email |
|
|
|
|
|
|
|
|
|
|
|
|
Beachmont Business Centre, Suite 65, Kingstown, St. Vincent, and the Grenadines |
Hugo’s Way has both advantages and disadvantages which are listed in table 9.
Table 9 : Rewards and Risks of the Hugo’s Way
 Pros |
 Cons |
|---|---|
|
Client funds are held in separate accounts.
A publicly traded corporation conducts ongoing evaluation reports regularly.
Provides Demo Accounts are available in a variety of account base currencies.
It does not charge fees for inactivity.
The Initial minimum deposit is very low for Hugo’s Way.
It does not charge fees for deposits & withdrawals. |
There are no financial regulators in existence. There aren't any unique tools or offerings that provide you an advantage over your competition. |
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