Forex Gal's Favorite Forex Broker HugosWay!
The Best Forex Broker!
Save on Taxes using hugosway! Because hugosway broker for forex, crypto & stocks only accepts bitcoin as deposits and withdraw you will save in taxes. Just withdraw cash to bitcoin and sell bitcoin immediately. The only fee you will pay are the gas fees to transfer and sell your bitcoin.
Hugo FX Registration
Fill out Registration Form!
Go to Email Account and Confirm your Email. hugosway will send you and Email.
Login to hugosway
Go to "Documents" on the Right and submit Front and Back of your Drivers License and a Utility Bill.
KYC Verification and the left. You need to Download "Google Authenticator App" on your phone. Everytime you login you go to the Google Authenticator App on your phone and get the PIN number. Wait for the app to generate a new number. This usually take about 35 seconds.
And Your Forex Broker Account Regustration is Ready to add Funds.
Download hugos way MTR 4
HugosWay is a true ECN/STP broker offering a generous selection of over 150 trading instruments for you to trade on the user-friendly MetaTrader 4 platform. They have very favourable trading conditions, including tight spreads, low commissions, rapid trade execution speeds and convenient account funding options. HugosWay welcome all types of traders and trading strategies, with scalping and hedging allowed. The broker has a 24/7 professional support team for all of your trading account needs. They can be contacted via live chat, email or you can request a call back at a time best for you. I have had an account with them for a few years now and have never had any problems. The trading setup has been great and withdrawals have been processed without any hiccups along the way. It only takes a few minutes to open an account and you can start trading with as little as $10. There is also the option of a free demo account if you want to get a feel for the broker before making a financial commitment.
Easy to use platforms for web, desktop and mobile trading apps
Over 150 tradable assets to choose from
Minimum deposit of just $10 to get started
Tight spreads on forex currency pairs
Fast trade execution speeds
Low commission fees
Quick and easy methods for deposits & withdrawals
Scalping, hedging and expert advisors allowed
Go long or short on positions
Free demo accounts so you can practice trading online
Excellent 24/7 support
Unregulated brokerage firm
No managed account options
No FIX API connectivity
Could add some more educational content
Hugo FX is a CFD broker offering leveraged trading on a range of CFD’s (contract for differences). CFDs enable you to speculate on the price differences between when you open and close a trade, without needing to own the underlying asset. This is a popular method of day trading and makes the markets more accessible to a wide audience.
The broker is owned and operated by HugosWay Ltd which is a company located in St Vincent and the Grenadines, with an office in Kingstown. Established in 2017, the brand offers forex and CFDs on the popular, versatile and easy to use MetaTrader 4 (MT4) platform for desktop, web and mobile devices.
HugosWay enables you to trade a generous range of over 150 assets including forex, metals, indices, stocks, commodities and crypto assets. All trading styles and strategies are allowed, without limitations. Thus, the broker accepts scalping, hedging and news trading strategies.
The broker gives you the true ECN advantage of tight spreads, swift execution speeds with minimal slippage. HugosWay asserts that its liquidity pool is made up of over 50 different banks. The spreads are aggregated from the different banks to give clients the best possible pricing. Generally speaking, the more institutional grade liquidity from top banks that a broker has, the better prices and execution speeds you can get. This can help to save on trading costs by minimising spreads and slippage on your orders.
Hugo FX states that it does not manipulate trades and operates with no dealing desk (NDD) model. It utilises the Straight Through Processing (STP) execution model to process all client orders without dealing desk intervention. Thus, they are not a market maker and ensure you get the best prices and execution speeds available directly from the liquidity providers. I would compare them to direct competitors such as KOT4X and Hankotrade in this respect.
HugosWay is not currently regulated. The fact the broker is not regulated does mean that there are not certain limitations such as higher deposits for average leverage, restrictions on trading styles such as scalping as well as higher commissions to cover legislation costs. This doesn’t really concern me too much as I am able to trade with certain conditions that I cannot get from other regulated brokers that I have accounts with. Although Hugo FX is not regulated, their 3rd party payments service is. The broker requires all registered clients to verify their accounts using ‘Know Your Customer’ procedures. Clients are mandated to upload a ‘proof of identity’ and a ‘proof of address’.
Two Factor Authentication (2FA) can be enabled with an authentication app like Authy, Microsoft authenticator or Google Authenticator. It can also be done via SMS for verified phone numbers. Hugos Way insists that 2FA adds extra security to clients’ accounts. I have this setup on my account and it gives me extra reassurance that my account has that additional protection.
HugosWay protects its network with a 256-bit Secured Socket Layer (SSL) encryption. This SSL technology encrypts all user data before transmission to the HugosWay servers. That way, internet fraudsters are deterred from attacking the network and victimizing clients.
Although the broker can accept clients from most countries although their brokerage services are not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation. If they do not server your country, please feel free to have a look at our broker ratings for another option.
MetaTrader 4 (MT4)
The platform provided by hugosway for its customers is the popular MetaTrader 4 (MT4) trading platform. The MT4 platform is widely used among traders because of its vast range of features and intuitive use friendly interface. I like how this platform has an abundance of implemented trading tools that enables quick and easy market analysis across multiple chart types and timeframes. You can see what instruments are trending up or down, whilst trades can be entered and exited at the click of a button.
The MT4 platform is fully customisable, with an intuitive interface that helps ensure a seamless trading environment for users of all experience levels. It supports demo accounts if you wish to practice trading online and familiarise yourself with the platform. I would always suggest trying a platform out with a demo account to begin with. Once you build up confidence and have some success, you may then consider switching over to a real account.
The broker provides the MT4 WebTrader, MT4 Windows and MAC OS desktop applications and the MT4 mobile apps for Android and iOS devices. The MT4 desktop platform contains the most features and is free to download directly from the brokers website. I use the desktop version of the platform the most because it is capable of running automated trading systems which is a key component of my trading strategy. Another advantage of MT4 is that you will find it is available through most forex brokers, including Blueberry Markets.
Here are some of the features of the MT4:
Multiple order types including market order, pending orders and stop orders.
One-click trading supported.
Technical analysis on the charts with hundreds of indicators to choose from.
9 different timeframes.
30 inbuilt indicators and analytical tools.
Alert notifications via SMS, email and pop-ups.
It can be used to automate strategies through Expert Advisors (EAs).
Strategy tester to back test automated systems over historical data.
From the MetaTrader market, traders can buy indicators, EAs, signals, VPS services and apps that can enhance the MT4. The MetaTrader market is accessible from directly within the MT4 platform.
Built in MQL programming interface for creating custom indicators, scripts & EAs.
Includes platforms guides and tutorials.
Demo accounts to practice trading with virtual funds.
Available in multiple languages.
Free to download for desktop, web and mobile.
The MT4 trading platform is designed for mobile trading via iOS and Android apps. The MT4 app has a simple, customisable and intuitive interface. It can be downloaded from the Apple or Google play stores, completely free of charge. The trading apps I think will be especially useful for those who wish to access their accounts and trade whilst on the go. You can use it anywhere in the world, provided you have an internet connection. I know that I am always checking my trades and the latest market news on my trading apps.
Here are some of the MT4 app features.
Live quotes that can be customised to display and monitor the trader’s favourite instruments.
Live charts of all tradable assets displayable in 9 timeframes.
Technical analysis using indicators and drawing tools.
View live account balances and order history.
Open position, modify and close orders from the app whilst on the go.
Set push alert notifications.
MetaTrader 4 Web Trading
The MetaTrader 4 web platform allows you to trade Forex from any browser and operating system (Windows, Mac, Linux) with no additional software. You can easily access your account and start trading in just a couple of clicks. It has most of the advantages of the native solution since it is a regular part of the desktop platform. This ensures the web platform’s high reliability and compatibility with the entire MetaTrader 4 ecosystem. The application is safe to use – all transmitted data is securely encrypted. All you need is Internet connection. I really like how the web platform runs directly in most modern web browsers without needing to download or install any additional software. This is great as you can access it from any device and it will always be up to date. However, I don’t use this version of the platform that often because it cannot support automated trading like the desktop version does.
Here are some of the key features of the MT4 web platform:
Trading directly via a browser
Compatibility with any operating system
Reliable data protection
One Click Trading
History of trading operations
30 indicators for technical analysis
All types of trading operations
Real-time quotes in Market Watch
The Hugo FX portal backs into the award-winning MT4 platform which has a range of features to help with your daily market analysis and trading activities. You can customise charts to suit your own visual preferences. There is an abundance of trading tools available for analysing the markets, managing trades, setting price alerts and much more. Automated trading system via expert advisors (EAs) are permitted to be used. With such a large selection of trading tools, you can get a comprehensive analysis of any trading instrument. This can help you to anticipate market movements and find forex trading signals in an effective manner.
In addition to the vast amount of trading tools already included within the MT4 platform, you can download thousands of additional tools from the MQL marketplace which is accessible directly from within the platform. You will find all sorts of free and paid trading tools for all types of trading strategies. There are technical indicators, trading signals and trading robots.
hugosway has an ‘Insights’ page which contains many ‘how-to guides’ along with important site information such as projected downtime, site updates etc. Don’t worry if you have limited knowledge of Cryptocurrencies and how they work. The broker guides include how to purchase Bitcoin to make depositing and withdrawing from your HugosWay account a seamless process. There are also information sheets on what Forex is, all about Cryptocurrencies and how to start your trading journey.
hugosway offers a generous selection of over 150 trading instruments. The broker offers major forex pairs, forex crosses and forex exotics. Also there are cryptos, metals, indices, stocks, futures and energy instruments. Whatever you like to trade, there is something for everyone. The broker is always expanding their offering and adding new instruments according to what traders demand. If you want even more choice, TD365 have an even greater variety.
55 Currency Pairs, including major, minor and exotic FX crosses
73 Stocks from some of the largest companies across the globe
38 Cryptos, including the popular Bitcoin and Ethereum digital currencies
Indices NAS100, UK100, AUS200, JPN225, GER30, FRA40, SPX500, US30 and more
Commodities including gold, silver and oil
Hugo FX provides CFD trading which his on of the most popular forms of derivatives trading. CFD trading allows you to trade long (buy) or short (sell) on numerous different markets and financial instruments without needing to physically own them.
If you believe price may risk, you could purchase a CFD on the underlying instrument. If you believe the price may fall, you may consider selling a CFD on the instrument. The difference in the assets price from when you open and close the CFD, is the profit or loss minus any broker fees.
As a form of leverage trading, you’ll have the opportunity to make returns which significantly outweigh your initial investment, although losses can exceed your original outlay too. Make sure you understand what leverage is an how it works before trading leveraged positions with HugosWay or any other broker.
Every client is given wallets in USD, EUR, GBP, CAD, AUD and BTC. Money can be transferred from wallet to wallet, from wallet to MT4 account and vice versa. Bitcoin deposits are available to all clients upon registration. But, only verified clients can use other deposit methods like credit card and bank transfers.
The real account type offered is the “Hugos Way MT4 ECN Account”. The maximum leverage is 1:500. You can choose between the individual and corporate accounts. If you want more account options then LMFX have some good options. Signing up to the platform is completely free and deposits start at just $10 for BTC. Hugos Way is an innovative broker that was one of the first to implement Cryptocurrency funding.
All spreads vary according to market conditions. For the EURUSD, the average spread is around 0.7 pips. A commission of $5 is charged for every lot traded. There are very competitive trading conditions when compared to many other online brokers.
There are no ongoing account costs to gain access to higher leverage. There are no set stipulations such as trade a certain amount of lots per month to gain high leveraged trading. You should of course understand and be aware of the risks involved with trading leveraged positions.
Demo accounts are available at no costs and no risks to the clients. The demo account can be credited with up to $100,000 with a leveraged setting of your choice. These accounts can be a great way to learn how to trade online with virtual funds whilst familiarising yourself with the brokers services and platforms.
To open a hugosway account, click on ‘Sign Up’ found on the topmost right hand side of the hugosway website. You can also fill the form on the homepage of the website. Enter your name, email and password and click ‘Signup’. An email verification message is sent to the inputted email address. Click the link from the email to continue the account setup process. Fill the one-page form and submit. The new account is activated and ready for use. You will be prompted to login to the clients’ area. From the clients’ area, you will be able to create new live and demo accounts, make deposits and commence trading. If you get stuck at any point during the client onboarding process, you can reach out to the brokers support team who will be happy to assist you. I didn’t have any problem during the process and was able to get up and running in minutes.
HugosWay offers 24/7 live support in the shape of live chat, email or call back request. The help centre has a Frequently Asked Questions (FAQs) section which is like a knowledge base. It consists of over 60 questions and answers on common questions covering account management, security, trading, etc. The support team can be reached on email, live chat, contact us form and ‘request a call back’ form. They are prompt, polite and efficient with their responses. Whatever your question may be, they are on hand and happy to help.
Hugo FX provide clients with a good selection of quick and easy funding options. This includes wire transfer, credit/debit card and cryptocurrency. They require proof of address and proof of identity in order to submit a deposit using wire transfer or credit/debit card. If you want even more payment options, PaxForex have a selection that includes many digital wallets. Accounts can be opened in a good range of currencies including EUR, USD, GBP, CAD, AUD, BTC. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
Most major credit and debit cards are accepted. Cards like Visa and MasterCard are accepted for deposits ranging from $50 to $600 per transaction. For withdrawals, the original funds must be returned to the card. Then, the profits can be withdrawn via Bitcoin or bank transfer. There are no charges and the payments are processed instantly.
This method is used for both deposits and withdrawals. The minimum deposit is $50 and there is no maximum limit. This is the primary payment option for all clients even without verification. If you have no Bitcoins, Hugos Way provide an easy to follow, step to step guide on how to buy Bitcoins from partner websites. There are no transaction fees. Bitcoin payments are processed between 1-3 hours.
Bank Wire Transfer
The minimum deposit is $100 while there is no maximum limit. Bank transfers can take up to 7 days for the funds to reach the trader’s account and vice versa. Bank transfers are charged a transaction fee of $25.
VLoad vouchers are accepted for deposits in EUR or USD. The funds are instantly processed. There are no charges with this payment method.
Overall, there are many things to like about hugosway from my research and experience. They are an online broker that operates from St Vincent and the Grenadines who can provide very competitive trading conditions to traders all across the globe, excluding some countries where they cannot due to regulations.
They offer a good choice of over 150 assets for trading on the user-friendly MetaTrader 4 platform, including an impressive selection of over 30 cryptocurrencies. The choice of MT4 is well accepted among many traders especially as all its versions are available; web, desktop and mobile. Whatever your experience level, the platform is widely regarded as the industry standard amongst beginners and professionals alike.