About Hugo’s Way
Hugo’s Way is a Saint Vincent and the Grenadines-based unregulated forex, cryptocurrency, and stock exchange broker. Hugo’s Way Ltd owns and operates the broker, which has a net worth of $ 800,000.
Customers get access to only one trading platform: MetaTrader 4. It is one of the most popular trading platforms, with a large range of charts and features available to users. MT4 offers 30 technical indicators, 9-time frames, 24 customizable charting tools, several order placing options, and a harmonic pattern scanner. Third-party advisors and trading bots for MT4 are also available for download. If you’re training and configuring an advisor, make sure the time zone is set to Hugo’s Way server time, which is GMT + 2 or GMT + 3 depending on the season.
You can use your broker account to log into MT4 from anywhere in the world. It’s available as a desktop platform for Windows, Linux, and Mac, as well as a web platform and mobile app for Android and iOS. Before enrolling for a live account, you can create a demo account to explore and enjoy the services without risking any money. A percentage distribution module is not available in Hugo’s Way.
Hugo’s path is unrestricted. They do say, however, that they are exploring several regulatory jurisdictions to get the greatest coverage for their clients. Because there are no rules, anyone from the United States, Nigeria, Jamaica, or the United Kingdom can create an account for free. You will not, however, be protected.
This is not to say that the company is unconcerned with security. The organization has a thorough verification process in place to ensure that you are the genuine article. You’ll need all of the necessary paperwork, including your identification and bank statements. You’ll need to download a two-factor authentication tool like Authy to enable two-factor authentication. Then go to the dashboard’s settings tab and enable 2FA. Use the app to scan the QR code on the screen or input the code displayed in the app for authentication. This application will protect your account by acting as a lock and key.
The broker offers CFDs on a variety of assets, including
- 55 currency pairs
- Over 100 equities from the European and US stock markets
- Six precious metals pairs
- Natural gas
- 31 cross-cryptocurrencies, including Bitcoin, Ripple, and Dogecoin
- 11 indices
Hugo’s Way costs $ 5 for each lot exchanged, with the commission varying depending on the trade size selected. If you make a deal with 0.5 lots, for example, you will be charged $ 2.50.
You will be charged a swap fee if the position is open until midnight (server time). Swap rates are the interest rate differential between two currency pairings. Short and long positions will also have differing pricing. Hugo’s Way has a formula for calculating swap fees:
(Pip value * Swap rate * Number of nights) / 10 = Swap charge
Withdrawing monies from Hugo’s Way is free of charge. The broker offers an automatic pips calculator on the Live Spreads page where you can examine the spreads for each security offered.
You may deposit and withdraw funds straight from your account using your Bitcoin wallet address or Vload. The minimum deposit via Bitcoin or a credit/debit card is $50, and there is no maximum limit. Vload welcomes deposits of as little as $ 10, however, all deposits are subject to a 5% charge.
Bitcoin and Vload withdrawals demand a minimum of $ 10 and have no maximum limit. You must utilize a third-party site to fund your account using a credit card or a bank transfer. Instacoins is a website where you may buy bitcoins using a debit card, credit card, or bank transfer and have them promptly sent to your Hugo’s Way account.
Hugo’s Way will reimburse the amount charged by Instacoins at the current bitcoin rate. If you deposited using Instacoins, you’ll need a Bitcoin wallet to withdraw. Every transaction that runs via the Blockchain network costs 0.0005 BTC. There are only a few complaints from people on Trustpilot concerning withdrawal issues, but they appear to have been resolved swiftly.
To transfer funds to your trading account, select “Internal Transfer” from the Hugo’s Way toolbar. Select “From Wallet to MT4” as the “Transfer Type.” Select “Currency” to deposit your MetaTrader account. Fill in the amount you want to transfer. You must first put monies in Hugo’s Wallet before you can perform the transfer. After your money is sent to the blockchain, the status of your payment will change from WAITING APPROVAL to WAITING CONFIRMATION.
Hugo’s Way opening hours
You can trade on Hugo’s Way 24 hours a day, seven days a week, from anywhere in the world. If you want to get an advantage when trading stocks, you should know when each stock exchange’s trading hours and holiday hours correlate to your time zone. The New York Stock Exchange is open from 09:30 to 16:00 EST Monday through Friday, whereas the London Stock Exchange is open from 08:00 to 16:00 GMT.