Do You Want to Know If Hugo’s Way Is Legitimate or a Scam Broker?
Hugo’s Way offers trading of forex, cryptocurrency and stocks but also encourages customers to take advantage of hazardous leverage of up to 1:500. It also doesn’t have a license and is based in St. Vincent and the Grenadines. This is a safe haven for brokers that don’t have licenses and want to take advantage of customers. We had this suspicion confirmed when we read the terms and conditions.
There Are Some Problems with Hugo’s Way
According to the terms and conditions, Hugo’s Way claims they can close an account for many reasons, including insufficient margins, lack of information given by the client and other reasons. Brokers shouldn’t be so quick to close down client accounts if they want to maintain a good reputation. However, Hugo’s Way wants to reserve the right to have total control over clients’ accounts and not withdraw money.
Hugo’s Way Was Flagged for Any of the Following:
The following are common reasons brokers get flagged by regulators or identified by customers as scams
- No license
- Misleading statements
- Locks down customer accounts
- Doesn’t allow withdrawals
- Verified customer complaints.
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 this broker 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.
