HugosWay Review 2023: Can you trust this forex broker?

Today I am doing a review of the broker HugosWay.  

In choosing a partner with trade in the Forex markets, you need to be as careful as possible.

And I’m going to show you what you need to check, before you start trading with a broker.

I’m doing this NovaTech broker review to show you step by step how to check out a broker before you start trading with it.

These simple steps will help you not to fall into the hands of scammers.

1.First Step – Research the HugosWay forex broker website

The first step is very simple, we need to explore the broker’s website – Here it is:

The first thing you need to know before investing with a broker is its license and who regulates it, who owns the brand and where the head office is located. This is the security of your investment.

HugosWay broker, founded by Hugo’s Way Ltd, is located in the offshore zone of St. Vincent and the Grenadines, which means there is no license, as there is no official financial regulator in the country.

Besides, there’s a lot of opposite information on the website, and the broker offers affiliate MLM programs, a favorite scam tool of illicit companies.

Also we checked several Tier 1 registries such as FCA, ASIC and BaFin, we did not find any HugosWay regulation. This means that the broker is unregulated and operating illegally. Beware of such companies and never invest your money as you have no guarantee that you will withdraw your profits.

Also remember the names of fraudulent brokers NovaTechFX and OpoForex avoid them at all costs!

2.Check the Traders Opinion

The next step is to check the feedback of traders who have already traded with HugosWay broker.

You can check this information on the authoritative Trustpilot website:

https://www.trustpilot.com/review/hugosway.com

As we see, a lot of traders write negative reviews about the broker Hugo’s Way Ltd.

3.Check financial regulation of Hugo’s Way Ltd

So the main question: is HugosWay a scammer or legitimate?

As mentioned, Saint Vincent don’t have a financial regulator. That’s why a lot of newly established brokers are choosing this particular offshore country.

After a thorough check of the FSA register, we haven’t find Hugo’s Way Ltd broker or HugosWay anywhere.

Have you been scammed by HugosWay?

There is a chance that you have been a victim of fraud by HugosWay or Hugo’s Way Ltd any other illegal broker. Yes, it happens and it’s not the end. There is always a solution! You need to file a dispute and request a refund.

A chargeback is a way for your bank to reverse the transaction if you can prove that you were a victim of online fraud. Since HugosWay is offshore, this process requires knowledge of international processors and international banks. To get help in this matter, contact the professionals – here is the link.