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 the MT4 platform. It provides a secure ECN trading environment that permits traders to trade exclusively online. HugosWay will appeal to you if you are looking to trade cryptocurrencies. according to FX110 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 FX110.com is that if you invest in HugosWay, it is barely possible to withdraw your hard-earned money from it. FX110 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.
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？ FX110 contains details of more than 37,275 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.fx110.com/). Or You can download the FX110 APP for free through this link below(https://www.fx110.so/app/download).