What HugosWay is
HugosWay, also called HUGO or Hugos Way, is an online forex broker, which is located in St. Vincent and the Grenadines. HugosWay was established in 2018. This broker is currently not regulated by any regulatory institution. According to its website, HugosWay offers a wide variety of instruments, including 24/7 trading of 35 Cryptocurrency Pairs with a leverage of up to 1:100. HugosWay uses MT4 platform. It provides a secure ECN trading environment which permits traders to trade exclusively online. HugosWay will appeal to you if you are looking to trade cryptocurrencies. However, according to WikiFX, this broker has a very low rating given by WikiFX of 1.40/10. WikiFX verifies that this broker has no legitimate license. Therefore, we advise you to keep your money away from this broker.
Unable to withdraw
One of the biggest problems revealed by WikiFX is that if you invest in HugosWay, it is barely possible to withdraw your hard-earned money from it. WikiFX has received a complaint of a trader who comes from Nigeria. Based on the complaint, the trader can not make withdrawals from his/her account. Since HugosWay is unregulated, it is difficult to hold it accountable for your loss of money.
Weak Customer Service
HugosWay has a weak customer service. Its website seems not to offer good instruction tools for inexperienced traders,which makes you easily get trapped by manipulation. Moreover, whether you made a profit or decided to not trade at all, it is a high possibility that you will lose your money without any useful response from HugosWay.
Conclusion
Please do your research and make sure you are comfortable with it. For your money safe, we advise you to invest with brokers who have legitimate licenses. But, how can you find a reliable broker？ WikiFX contains details of more than 31,000 global forex brokers, which gives you a huge advantage while seeking the best forex brokers. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or You can download the WikiFX APP for free through this link below(https://www.wikifx.com/en/download.html). Running well in both the Android system and IOS system, the WikiFX APP offers you the easiest and most convenient way to seek the brokers that you are curious about.
