Who are Hugo’s Way?
A Brief Guide
If you’re a tech-savvy person who knows what’s in these days, you’d know what cryptocurrencies are – digital coins that are revolutionizing the world marketplace. But, have you wondered, how could you or any other person interested in crypto buy or sell your currency?
This is where trading platforms like Hugo’s Way come in. Hugo’s Way provides MetaTrader4 trading facilities to clients from all over the world. You may ask, ‘what is MetaTrader4 trading?’
MetaTrader 4 is a trading platform, mostly used by brokers to keep a vigilant eye on real-time prices. It also helps users to have a detailed trade analysis and to adjust their orders accordingly. Hugo’s Way is a sophisticated form of this online foreign exchange trading.
Who are Hugo’s Way?
Headquartered in the Grenadines and St. Vincent, Hugo’s Way is an online trading platform which provides technical analysis to traders to allow them to make timely decisions regarding their investment. It also provides various tools that help even novices to make better trading decisions.
It is a relatively new company and was founded in 2017. However, it quickly got famous across the world and is now catering to ten thousand plus clients all over the world. But before we talk about some salient features of the platform, let us have a look at the basic of trading and why you should venture into this field.
Hugo’s Way has sophisticated software which enables new investors to easily navigate through the world of stock market. It also has easy terms and conditions, allowing more people to confidently invest in the market.
One of the drawbacks that the platform has is that it is unregulated. This point is a big deterrent especially for new comers who would show a bit of hesitancy when choosing a relatively new platform for trading purposes.
What is Foreign Exchange Trading
What is Foreign Exchange Trading
When it comes about ‘investment,’ many people believe that investing in a house or a company’s stock are a few available options. But that is not the case. There is a long list of financial assets and currencies – especially crypto and foreign – are a viable option to secure your savings.
The first thing that you’d want to ask is: how could you be sure that this option is ‘secure’? Foreign currencies usually appreciate in value. If you earn in dollars, you’d want to buy currencies which are more valuable than dollars – euros, pounds, or dinars (in circulation in Middle Eastern countries). But you may not have sellers of these currencies near to you.
It is where platforms like Hugo’s Way enter the picture. These platforms host clients from all over the world, so you’ll come across a large number of currency holders willing to sell their currency. The same is true for cryptocurrencies – the new buzz of the town.
Also, suppose that you want to go to a vacation to another country where the currency of your country is not acceptable. What will you do then? For example, say, you want to have a boys’ trip to Bangkok where dollars or euros aren’t acceptable or you want to have a girls’ trip to Bali where you’d need the Indonesian currency to buy things for yourselves.
For your trip, you will need the currency of that country. One option that people have is going to currency exchange physical shops that are open inside malls or in financial districts. And while it is a good way to get some case, the exchange rate will be a bit low. After taxes and a shop’s operating expenses, sellers will be trading on a thin margin.
On online platforms like Hugo’s Way, buyers will have access to a large number of people who will quote good currency rates to get more customers. This is also true for cryptocurrencies. Even though this digital currency is quite popular among people, many brokers don’t deal in them due to factors like government restrictions.
But there is a big market for these assets, and many investors are interested in buying the new currency. On trading platforms like Hugo’s Way, you could easily meet the people interested in such currencies. And what is better than having access to sellers from all over the world. Any market with a good number of market players is good for buyers as there is always a healthy competition and prices are generally low.
Why Hugo’s Way
Platforms like Hugo’s Way are great because they provide so many trading options in one place. Hugo’s Way is available in almost all countries except the following: Iraq, Japan, Brazil, Islamic Republic of Iran, Syrian Arab Republic, and Republic of Korea.
To start trading with Hugo’s Way, customers must have a minimum deposit of $50. The platform also offers ‘expert trading advise’ which means that investors will be able to get insights from a professional. This will allow you to make better investment decisions and don’t lose your hard-earning money because of your inexperience.
Another important thing of Hugo’s Way is that it offers ‘1:100 leverage’. Those who are trading gurus would know what this means and why it is one of the advantages of using Hugo’s Way. For those who aren’t well-versed in these things, here is a brief explanation for you: leverage in trading is what you know as borrowing.
Obviously, you cannot have big chunks of money to invest in your digital trade. Some brokers – and this is a common practice throughout the world – allow you to use ‘the borrowed money’ to make your investment portfolio stronger. In simpler terms, Hugo’s Way leverage will tell you the amount of money that the platform is willing to offer you as ‘borrowing money.’ 1:100 leverage then means that for every $1 in your account, Hugo Way’s will offer you up to $100 for trading.
Currency Bids and Ask Price
Earlier, we mentioned that you can get your currency exchanged through money exchange kiosks that are open in every corner. However, why this isn’t a good trading option is that you will have to go with the ask price of the seller.
Traders on Hugo’s Way are no different. But since they are high in number, they will keep the prices down because they know that there is enough competition. For example, if you have $100 and you want to buy euros, you will look for bidding for ask price. Then, some traders will quote their rates that will be somewhere around 88 euros for every $100. You can choose whichever trader offers you a decent rate.
Many people also buy currency for trading purposes – and not necessarily for travelling. So, if you are someone who would want to invest in foreign currency for investment purposes, signing up on the Hugo’s Way platform is a good and financially viable option.
Hugo’s Way in a Glance
Why Should I Choose Hugo’s Way?
There are so many trading platforms, so it is understandable why you’d be second-guessing your decision of choosing Hugo’s Way as your trading partner. Here are some features of this online trading platform, which will show you why you should go with this trading platform.
Segregated Funds
Hugo’s Way allow you to trade in your name or use their name. If for any reasons – tax purpose or otherwise – you want the platform to hold money in their name, you can have this opportunity as well.
Flawless Withdrawals
There is nothing frustrating than having your hard-earned money stuck in the account. Hugo’s Way has a great working relationship with financial institutions that provide flawless withdrawal and deposit facilities.
Managing Risks
As mentioned above, Hugo’s Way give you real-time analysis of stocks. This helps investors to make better decisions and invest in currencies/stock that will prove them with better gain if they decide to sell off their stock.
One of the reasons why many people fear when it comes to investment is that they don’t want to lose their hard-earned money. The stock market is highly volatile and any external change affects it. With real-time analysis, investors will know when it is the good time to buy or sell their stocks.
Frequently Asked Questions
Q: Is Hugo’s Way safe?
Ans: Hugo’s Way is a good online trading platform. It is convenient and transparent and provides many amazing features to customers. However, even with all fascinating features, the company has garnered very low ranking from its customers. Some sites have even given it the rating of 2 stars. Its average rating across all Hugosway Review sites is 5.8/10.
Q: Does Hugo’s Way ask for a minimum deposit?
Ans: Yes, like most trading platforms, Hugo’s Way asks for a minimum deposit of $50.
The Final Word
Trading in itself is a risky venture. Many online trading platforms are a victim of negative publicity. As investors, it is on you to learn the basics of investing and then see which company is most-suited to your needs.
Overall, Hugo’s Way is a good platform which is providing great trading services and aid to budding investors. Traders who have accounts on this platform are largely satisfied with its overall working.
Hugos Way Guide – Read our In-Depth Hugos Way Review
Hugos Way Rating: 5.85 / 10
Our Hugos Way review contains information about investing with Hugos Way. It is intended for educational purposes only and should never be considered financial advice. comparebrokers.org is not a brokerage or advisory service. We do not recommend or advise that investors buy or sell securities or stocks.
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Trading leveraged products such as Forex and Cryptos may not be suitable for all investors as they carry a degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary seek independent advice.