How Do You Open A Live Account With Hugo’s Way?
Once you are comfortable with their systems
When we started testing Hugosway we took our own medicine and tested first using a demo account. We then assessed the ease of getting a live trading account with them and found it to be simple.
Hugosway is easy to open a live account with. It is a user-friendly site with clear instructions on how to get your live account by simply completing a form of basic personal information, completing the KYC verification, and then transferring Bitcoin from one wallet to another to be able to trade.
The entire process of setting up the account is very easy – more on it later. Hugo’s Way was founded in 2017 and is currently headquartered in St Vincent and the Grenadines. The relatively young company has gained remarkable popularity among its users, who happily benefit from its amazing tools and other educational material, allowing them to have secure trading accounts.
The company’s easy terms also allow investors to plunge into the sea of trading and make quick profits. A big question is: how should you set up a live trading account and benefit from Hugo's Way's incredible features.
How Do You Open a Live Account with Hugo’s Way?
This section is a super quick guide on how you’re going to set your account on Hugo’s Way:
The first thing that you will see on the Hugo’s Way website is the small form that asks for your basic information. You fill in the required details and click on the “Open Live Account” option. As soon as you do this, the website will send you an email. The confirmation page will lead you to a dashboard-style page where you will be asked to verify your account.
On the left vertical panel, you will see the "KYC verification" option. Click on it and send a PDF document of your state ID or driving license or a utility bill that has your permanent address on it. If you have any questions regarding this procedure, you can click on the live chat window at the extreme right bottom of the screen. This chat window will connect you to a Hugo's Way representative who will guide you on how to move forward. Once that's done, you can upload your document.
The platform normally takes between 30 minutes and an hour to verify your document. Then, go to "My Accounts" and then click "Create Account." Under the "Create an Account" option, you will see a drop-down menu. Select "Hugo MT4 ECN." For currency, choose the one you're currently using – the options include USD, GBP, EUR, etc. In the end, choose leverage – the available options include 50, 100, 200, 300, 400, and 500. This leverage will let you trade heavy volumes even if you have a smaller account. Now click on the "Create Account" option. You will get a message that says that "your account request was created." You can go back to "My Accounts" to see whether your account has been created.
The next step is to deposit funds. On the left vertical pane, click on the “Deposit Funds” option. On this page, select your wallet – let us suppose that you choose a US dollar wallet. Then, click on Bitcoin. It is the easiest way to fund your account. There are several payment methods to deposit your funds. Many investors use “CashApp” for this purpose. Now go to this app and buy Bitcoins using your dollars.
Before we go any further, let us add that you will need to get deposits and withdrawals enabled on the cash to transfer the money to your trading account. You will have to send front and back pictures of your driving license for the enabling process, and the app takes around a day to verify your details.
Considering that you’ve already got this feature enabled, let us move forward. Now, click on the Withdraw Bitcoin button and scan it all the way to the right. The app will automatically open the camera for you. You will have to use the camera to scan the QR code on the Hugo’s Way website that will confirm your deposit. You will have to wait for 10-15 minutes for the deposit to show on the dashboard.
Now click on the Internal Transfer option and choose the “Wallet to MT4” option. Now, select the currency and then select your account. Now, type the amount that you have to transfer to your account. There is another thing that you have to do: on your phone, go to your email and open an email message from Hugo’s Way. This message will tell you that a MetaTrader4 account has been created. At the bottom of the email, you will have your account number and your password.
Copy this information and open the MetaTrader4 app. Go to "Settings" and then "New Accounts" and select Hugo's Way. Now, fill in your login and password details. Your money will be in your account! It may sound a bit confusing, but once you get the hang of it, you will realize that the process is quite easy.
Why Should You Have Live Trading Account with Hugosway?
The world is moving quite fast. You are always on the go, and a little delay from your side pushes you further away from your goal of making huge profits. Here are some of the benefits of opting for online trading accounts:
You don't have to rely on a middleman. Many people hesitate to join the trading world because they are not certain whether they can manage it. Some of them take help from brokers. With online trading accounts, you don't have to rely on middlemen as you can carry out the whole process independently. As our above guide tells, depositing money in your trading accounts can be done from the comfort of your home. With such online platforms, you have the liberty of doing things on your own.
When you're availing of the services of a broker, you pay some fees to them. This fee is a cut from the profits you earned through your trade. With online platforms, you are supposed to do everything on your own, which means that you don't have to hire any brokers for their services. In the end, all of this results in more money as you conveniently save broker fees.
Another benefit of online trading is that it lets you have greater control over your investment. Real-time data analytics also help you better understand how your assets are performing. You will have a wide range of trading assets, allowing you to diversify your portfolio as conveniently as possible.
What's better than having the liberty to choose whenever you want? With online trading, you can have access to the market 24/7 – in the case of a few markets, you will still have to follow their working hours. But it doesn't matter where you are and when you have logged in to your account. All that matters is that you will have ample time to make your trade and enjoy high returns.
Frequently Asked Questions
Q: Is Hugo's Way, a safe broker?
Ans: Hugo’s Way has employed several tools to ensure that all transactions carried out via the platform are secure. It also offers a demo account for investors to help them understand what they're getting into before they start trading with their hard-earned money. It is a sign of a good and secure broker that doesn’t want its users to spend the money lavishly without second thoughts.
Q: What is Hugo’s Way leverage?
Ans: For foreign currency trade, Hugo’s Way offers the leverage of 1:500, which means that for every $1 in your account, Hugo’s Way will give you a loan of $500. If you are a beginner, you have to be careful about using leverage. Tempting as it is, it may make your debt goes up. You can use your demo account first to understand better how trading works before you benefit from the leverage facilities.
Q: How much does Hugo’s Way charge per trade?
Ans: The company charges $5 per lot, which adds $10 for a round turn. For large trading volumes, this amount reaches the hundreds. The platform's commission fee is a bit of a stumbling block for most investors. It is, however, noteworthy that the platform doesn't charge any fees for withdrawals or deposits.
Q: What type of license does Hugo’s Way have?
Ans: The online trading platform has an offshore license to carry out its activities.
The Final Word
Opening a Hugo’s Way account is a few-steps process. Maintaining the account is also quite easy, especially if you have a dedicated mentor to guide you regarding the various ups and downs of the trading world. Even if you don’t have someone to turn to, the platform provides various educational tools that you can use to make your trading experience even more fun. Depositing the money into the account and withdrawing it is also quite convenient. Once you have learned how to go about it, make sure that you make the most of the available educational tools to make your trading experience even more profitable.
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