Hugosway Review: Is this a safe broker?
Hugosway is an fx broker who specializes in trading on the MetaTrader 4 trading system for online traders. Traders can choose from more than 150 trading products and 50 currency pairs on the trading system. Because Hugosway is an unlicensed broker, traders may lose money. A big advantage of Hugosway is their 24-hour customer assistance, which means they provide excellent service.
If you’re interested in learning about Hugosway and want to start trading FX, you’ve come to the right place where we will share the hugosway review.
Review of Hugo’s Way in Brief
Hugosway is an international broker that is controlled by St. Vincent and the Grenadines-based firm Hugosway LTD. Forex broker Hugosway has been in use since 2017, making them a relatively new competitor.
There are several advantages to dealing with Hugosway, even if they are not registered forex brokers. MetaTrader 4 is the trading system of choice at Hugosway, where you may trade over 150 products, like CFDs and Forex. Additionally, they offer speedy transactions, limited spreads, cheap minimum investments, and 24/7 trading statistics.
Is HugosWay a licensed broker?
You can learn more about Hugosway’s lack of CFTC regulation by clicking here. Hugo’s Way is an unlicensed broker. The CFTC oversees broker regulation in the US. According to Hugosway, they want to make sure they interact with a regulatory authority that promotes the interests of their traders. It’s possible that in the future, they will engage with regulators to become authorized, but meanwhile, they aren’t,
As a result of the lack of regulation in many states, this broker can lawfully trade in such countries. In order to prevent traders’ funds from being scammed, their third-party payments provider has been carefully monitored.
HugosWay: A Trustworthy Broker?
In fact, HugosWay is licensed and organized in the vincent and grenadines. Many interested traders are concerned about whether using the Hugosway is secure. Hugosway always takes all required safety measures to prevent traders from unnecessarily risking the risk of losing funds, even though they are not registered, brokers.
There are still restrictions on certain trading techniques, like as scalping, and a greater minimum deposit is required for average leverage at Hugosway.
Aside from the restrictions, Hugosway controls its payment system by allowing traders to activate Two Factor Authentication (2FA) via an identification app or a confirmed phone number through SMS. The two-factor authentication (2FA) is designed to protect traders’ funds.
Hugosway brokers, who place high importance on customer service, require new clients to go through a “know your customer” process before they can open an account. Customers must upload identification and proof of address in order to complete the registration process. It prevents currency trading system fraud.
Although they are encrypted with a 256-bit Secure Socket Layer (SSL), many traders are afraid to submit such personal information. It indicates that the files are secured before being sent to the Hugo’s Way network. This prevents hackers and scammers from trying to gain access to the Hugo’s Way systems in order to gain personal information. Despite not being licensed, Hugo’s Way is a reliable broker to use for trading.