Hugo’s Way, a stockbroker and forex broker with its headquarters within St. Vincent and the Grenadines It offers MetaTrader4 trading to customers from various countries. The company is increasing in popularity because of its extensive variety of assets, industry-renowned business-to-business trading platforms, as well as high leverage rates. The Hugo’s Way review for 2022 will give you all the details that you need about prices, regulations assets, regulation and more.
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Hugo’s Way, a unregulated broker, stockbroker, forex and crypto broker , with it’s headquarters at St. Vincent and Grenadines is Hugo’s Way. Hugo’s Way Ltd manages the broker and owns it with a value of $800k.
The broker is a non-dealing desk (NDD) and only has one type of account. It has connections to more than 50 liquidity providers and banks through ECN execution. While the broker has recently launched an another server in order to improve the trading environment, they does not provide an Islamic account.
Hugo’s Way offers only one trading platform: HTMLTrader 4 (MT4). It is among the most popular in the field. It provides both novices and professionals with a variety of charts and tools. MT4 provides 30 indicators for technical analysis like Bollinger Bands and Relative Strength Index (RSI) 9 timespans, 24 adjustable graphic tools, various choices for placing orders as well as the harmonic pattern scanner and a variety of customizable graphical instruments.
You are also able to download MT4-compatible expert advisors from third parties or trading bots. If you’re training or creating an EA ensure that you adjust it to Hugo’s Way’s server timeframes. It could be GMT+2 (or GMT+3) dependent on the time of the time of year. Select “Market Watch” to view the time zone of the server in the MT4 format.
You can sign in to MT4 anywhere around the world with an account with your broker. It is available as a desktop application using Windows, Linux, and Mac. It can also be used as an mobile or web-based application available for Android or iOS. Before you open your account you can explore the features but not put in any money. Hugo’s Way does NOT offer PAMM accounts (percentage management module).
Hugo’s Way offers Forex on different securities:
- 55 forex pairs, including major minor, exotic and major crosses.
- Over 100 share in European as well as US markets, including Amazon, Apple, and Netflix
- A total of six metal combinations are on offer which include XAG/USD, XAU/EUR and XAU/USD.
- Natural Gas, UKOil, and USOil
- 11 indices consist of NAS100, US30 and FTSE100. It also includes the Volatility 75 Index (VIX) is also included in the 11 indices, is .
- 31 cryptocurrency cross-references include Bitcoin(BTC), Ripple XRP and Dogecoin GE (DOGE).
Hugo’s Way charges $5 for every lot that is sold. The commission is adjusted based on the size of the trade. If you make a trade of 0.5 lot, $2.50 will be charged.
Swap fees The article is applicable to transactions which are open beyond midnight (server time). Swap rates refer to the variation on interest rates of two currencies. Additionally the rates for short and long swaps will differ. Hugo’s Way uses the following formula to calculate the swap fee:
Swap Fee = (Pip Value * Swap Rate * Nights) / 10.
Hugo’s Way does not charge charges for withdrawals, but deposits made through VLoad are subject to the cost of 5.
Hugo’s Way’s live spreads webpage includes an auto-generated pip calculator, which lets you look at the spreads of every security.
Hugo’s Way accounts can be directly accessed via the Bitcoin wallet address or via Vload. The minimum amount to deposit through Bitcoin or debit or credit cards. The deposit amount with Vload is just $10. The downside is that Vload has a five per cent fee on every deposit.
The withdrawals from Bitcoin or Vload will be subject to a minimum deposit of $10 and no maximum amount.
Hugo’s Way accounts can only be funded using a credit card or wire transfer. You’ll need an external platform. The platform is known as Instacoins. It lets you buy Bitcoin by using the debit or credit card of your choice, card or wire transfer, and then to transfer direct into Your Hugo’s Way account.
Hugo’s Way will refund the Bitcoin amount that Instacoins charges. To withdraw money from Instacoins you’ll need an Bitcoin wallet. Every transaction on the Blockchain network is subject to a fee that is 0.05 BTC. Trustpilot has received just some negative reviews on withdrawal issues. The issues are all swiftly resolved.
Choose “Internal Transfer” to transfer funds to your trading accounts. Select “Wallet to MetaTrader4” as the “transfer method”. Select “Currency” to deposit into your MetaTrader account. Enter the amount you would like to transfer. Before you are able to transfer, you’ll need to have enough cash in your Hugo’s Wallet. Once your funds have been sent to the Blockchain, the status of your payment will change from WAITING_APPROVAL to WAITING_CONFIRMATION.
Hugo’s Way Trading Hours
Hugo’s Way is available 24 hours a day and from anywhere around the world. It is important to know the opening hours and holiday times for each stock exchange according to your local time zone to have advantage in trading stocks. It is important to know that the NYSE is open from Monday through Friday between the hours of 09:30 and 16:00 Eastern Standard Time.
Hugo’s Way does not have any regulatory status. They say that they’ve studied various regulatory jurisdictions to find the most appropriate insurance for their clients. You are able to open an account with Hugo’s Way account anywhere you reside in Nigeria, USA, Nigeria or Jamaica. The account will not be secured.
Hugo’s Way isn’t insecure. To confirm that you’re authentic, the business employs the KYC procedure, as well as 2FA. To prevent the possibility of a KYC verification mistake, you’ll require all the required documents, including bank statements as well as ID. It is necessary to download Authy the 2FA application which allows you to activate 2FA. The settings tab of your dashboard will permit you to turn on 2FA. To authenticate, utilize this app for scanning QR codes using your screen. Enter the code within the app. The app will serve as your account’s key and lock.