When you read this Hugoway, you have to give your client the respect they deserve, reputation is everything in this game. Imagine how many clients will look for another broker after this comment, an unhappy client can have a big impact these days with all the media and. Yes, Hugosway is legal in the United States and accepts US citizens. The US is not on the short list, so just provide the standard KYC documents and you can register and start trading that day. I have been using hugosway since January 2019, luckily I have had none of the problems that many people are experiencing, no complaints, withdrawals and deposits are quite fast, I use cryptocurrency as a deposit method. No problem with support. Always available in the chat, no broker is perfect, but nothing to complain about yet. HugosWay is currently not regulated. There is no designated governmental or non-governmental body to oversee HugosWay`s activities or resolve complaints. Please read the unbiased reviews of traders on Forex Peace Army here: www.forexpeacearmy.com/forex-reviews/14070/hugosway-forex-brokers#faq-is-hugosway-a-regulated-broker and recent forum posts here: www.forexpeacearmy.com/community/tags/hugosway/ decide if HugosWay is a good Forex broker for your trading needs. Many countries do not require FX brokers to be regulated, just as this broker operates legally in some countries. I don`t know where some people get their negativity from.
That was the time I exchanged with them. People talk about regulated brokers, but don`t mean as much as you think. An unregulated broker with Hugosway`s history and service offering is better than a crappy regulated broker. I will stay with them for my Forex and crypto trading. Dear Ace, Thank you for these comments. It seems that we cannot find an account among the details given in this review. Unfortunately, we recently had an unpredictable connection issue from our liquidity provider. Vincent and the Grenadines, to learn more, click here.
You are allowed to trade legally in many countries such as the United States, Canada, Australia, and South Africa. Is there a broker that can offer 1 pip per dollar like Hugosway on Wall Street offers US30? Although Hugosway is not a regulated broker, most countries do not require brokers to be regulated. This means that Hugosway operates legally. I`ve been with Hugosway for over a year, honestly, I have no problem with their service. Their spreads are competitive and the platform works pretty fast for me and I often scalp. I deposit in Bitcoin and also withdraw in Bitcoin, which makes the process much faster than any other broker. There is some satisfaction in requesting a withdrawal and receiving it the same day. I would recommend when we compared Hugosway vs Tradersway, we found that the Hugosway offers more markets, while Trader`sWay tends to have lower fees and spreads. They are very similar when comparing trading platforms, accounts, and trading features. We maintain separate accounting records in our system. This ensures that our own funds and assets, as well as client funds, are tracked separately. Today I entered a buy position on NZDCAD using TradingView (looking at the charts), then MT4 time at (2:51pmEST) 21:51:03 (the price was 0.80266entry with stop loss at 0.80175)(3:00pmEST)22:00:01 where my trade was dropped by stop loss at price 0.79740 for over 50 pips, then I went through the MT4 app with a huge spike, which didn`t show up on the chart I saw on TradingView (OANDA chart) or for OANDA on the mt4 app (a demo OANDA account), only with this broker has this huge candle that`s so weird, I see why it`s better to trade with regulated (and highly suggested) brokers instead of unregulated brokers for one of many reasons like this.
Crazy candlestick lace. I don`t know if zoo monkeys or carnival barkers run this show, but save your money and get another broker. I have no complaints. So I can describe my experience with HugosWay in a few words. I contacted support immediately, I had to do it. On this broker`s website, they don`t dwell much on the details, so I had a lot of questions. To be honest, I doubted it was worth acting here, as offshore registration and working conditions are short. I decided to take a risk simply because the website offers a demo account and the entry threshold is only $10.
I liked it, so I started to sit on the fence and gradually gain momentum. In one month, I made a net profit of $1500. I have been with Hugos for about a year, the only positive I could find is their support. Very objectionable, they have strange opening hours when trading WTI and some commodities, stupid high spreads, but it didn`t bother me as much as I do swing trades. You get a “closed market” or “invalid” if there is high volatility in the markets that prevents you from placing trades. Therefore, it has become an offshore area for shady forex brokers like CVC Markets, AAG Markets and more. Learn more about the regulations for St. Vincent and the Grenadines.
Other useful personal account settings and features: Today is the day, after almost 2 years of using Hugo`s Way, when I decided to withdraw my money. Almost 1 hour later, I got my money back. The reason I left this broker is that they do not offer the opportunity to trade as an “Islamic account”. Nevertheless, I have not experienced any strange things/scams from them. Will I come back on Hugo`s path? Probably yes, if they offer an “Islamic account”. Another reason I would come back is because of their huge amount of different crypto pairs that I personally like. Anyway, if it hadn`t been for the way Hugo didn`t have an Islamic bank account, I would have stayed with them. I was also asked to do photo ID. I tried several times over the course of a week or so, but they kept denying it.
Eventually, they let it pass and I haven`t talked to them since. Dear Anthony, Thank you for your comments, we took the time to investigate the issues you raised. We remind you that spreads are determined by market conditions at the time of trading and any spread that may be wider than expected may be the result of volatile market movements, mainly due to important environmental and political factors currently seen in the news. Please also note that, in accordance with our rules, which you accepted when you registered, a stop out takes place where MT4 starts closing the client`s open positions one by one to avoid further losses resulting in a negative balance (less than 0 USD). It is an automated system to protect both the client and the broker from losses. We offer 24/7 customer support via chat, email, and callback requests. Please contact us as soon as possible. Thank you and wish you good luck, withdrawals from Hugo`s Way Management with credit or debit cards take less than 24 hours. I withdrew my Bitcoin in less than 1 hour. If you have never used MetaTrader 4 before, here are some of the features: All clients on Hugosway have their funds in segregated fund accounts.
This makes it possible to separate client funds from Hugosway funds. Easy to use. I now use it for a longer period of time. The leverage for Forex pairs is great 1:500 and for crypto 1:100. There is also great support where you can turn to the problem. I don`t know about bad reviews, maybe they`re doing something wrong and want to talk badly about Hugo The biggest downside to working with Hugo`s brokers is that the company is not regulated, so again, there`s a high risk of losing money. Sometimes the high risk is worth it to earn a lot more. You can always try a demo account first to see if this is the broker for you! HugosWay has been my go-to place for almost a year and they never let me down.
Being able to trade cryptocurrencies 24 hours a day, seven days a week, is my favorite thing to do. In addition, the ability to use leverage 1:500 on FX and leverage of 1:100 on crypto is also very convenient.