Do You Want to Know If Hugo’s Way Is Legitimate or a Scam?
Hugo’s Way may seem like a legitimate broker. It was started in 2018 and offers a wide variety of trading products such as cryptocurrency, stocks, and forex. Hugo’s way warns visitors about the risks of trading and says it has its client accounts segregated from that belonging to the broker, but that is just basic financial ethics, and not necessarily something to highlight. Also, it is contradictory when taking with its 1:500 leverage, which can be risky to traders.
We Have Found Some Problems with Hugo’s Way
Hugo’s Way has a license so it must be okay, right? Not necessarily. This license is from St. Vincent of the Grenadines, which provides almost no oversight for brokers and clients. Almost any type of broker can get a license from this regulator. Even if Hugo’s Way does provide some services to clients, they are not going to be protected from a third-rate regulator.
Red Flags that Hugo’s Way Could Be a Scam
- No license
- Inflated claims
- No transparency
- No contact information
- Bad reviews
If You Need Fund Recovery from Hugo’s Way, Talk to Us
We create these reviews to warn consumers about brokers and schemes that may be fraudulent. If you have an account with Hugo’s Way close it and request a withdrawal. If you are not given your money back, contact Broker Complaint Registry right away. We will consult with you, work to track down your funds and create investigative reports, and will assist with fund recovery efforts.
