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Hugos Trading Review: Hugostrading.com Forex Scam

Hugos Trading Review: Hugostrading.com Forex Scam

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Hugos Trading (Hugostrading.com) is a bane CFDs, Cryptocurrency, and Forex scam platform to hit the trading scene. HugosTrading is professing to offer Crypto trading with the power of 100 times leverage. With claims of having over 30 assets in one account, investors signed up without conducting due diligence. Members are now coming out with claims of being blocked from accessing funds. Read this genuine HUGOS TRADING Review for more details.

Hugos Trading Review

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Hugos Trading Review

With members sending emails to our help desk, we knew trouble was brewing. With over fifty members facing withdrawal issues, this was not a coincidence, this was a plan. Scam artists will wait for investors to deposit funds and later start shutting down accounts. Once they notice the member is depositing more and more, they will create an illusion you are making money. When members decide to withdraw the so-called profits, disaster happens. All of a sudden, communication gets clogged and accounts get blocked.

Professional scam artists will openly steal your funds in an easy and open way. What they do is a use a call agent who acts as a broker and constantly harasses members. You will be called more than three times a day urging you to deposit more funds. What the so-called account managers say is the more you deposit, the higher your chances of winning. Once you stop depositing funds, they never allow you to withdraw your initial deposit. They claim the money was lost in a trading activity, which you didn’t participate.

About Hugos Trading

Hugos Trading is claiming to have been founded in 2010 and has grown exponentially. From what we have found out, the platform is trying to mimic another Crypto trading platform. Hugosway is another Crypto platform whose information seems to be similar with the above platform. Is this is a coincidence? We highly doubt it as the platform is clearly stealing from anyone who signs up. These are clear scam artists who will do or say anything to make unsuspecting investors sign up.

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Another huge challenge with this platform is anonymity. No one knows who owns and runs the platform. Since they claim to have been in existence since 2010, no reputable broker knows them. A look at company register shows no company with such a name exists in America, Asia, or Europe. And this is concrete proof we are dealing with a hoax which must be exposed. Anyone who signs up should not expect to get anything from trading with this platform. Make sure to stay away.

Is Hugos Trading licensed or registered?

With the platform using +904 as their phone code, we should believe the platform is based in the States. And we checked with official regulatory bodies such as Natural Features Association and Sec. None of these bodies has ever heard or licensed the above platform. And this is concrete proof we are dealing with a sham. Without proper recognition from authorities, Hugos Trading is a scam. Make sure to stay away from unlicensed entities as security of funds is never guaranteed.

Whoever signs up with this platform should know there are no valid documents to prove authenticity. You would expect the platform to show their license and registration details. With a real trading platform, copies of license documents are posted for all to see. By doing so, they give users a chance to verify the details using official regulatory websites. Why has Hugos Trading failed to follow suit? They know they don’t have any regulatory documents to support their website.

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Advantages of Hugos Trading

We could not come up with any advantage of trading with a bogus and unregulated platform. With complaints coming from all corners of the world, Hugos Trading is a definite scam. Make sure to stay away from this platform as it is openly stealing from anyone who deposits with them. Thanks to our investigation team, we have a ton of evidence showing the platform is a scam. Once you deposit funds with them, it is the last you will see of it. Make sure to stay away from this illicit platform.

Disadvantages of Hugos Trading

Account types

Hugos Trading Account Types

Hugos Trading is furnishing users with five different account types to choose from. Accounts are listed as Starter, Platinum, Bronze, Gold, and Diamond. What we found odd with these account types is the high minimum requirement. Starter account is the most basic account and users have to deposit $300 to start trading. The industry has set $250 as the acceptable minimum required deposit. Make sure to stay away from these accounts as they offer nothing but a trap for investors.

Customer Support

What we noticed with their customer support is that it is a bot. You are not actually talking to a real representative but a bot which answers basic questions. The bot will direct you to an account manager who will demand you open an account and deposit funds. And this is a trap to ensure more and more users deposit funds without testing the platform.

Demo Account

Hugos Trading is not furnishing users with a demo account which is disturbing. A demo account is used to give users a chance to test how well a platform works.  Members are driven to using a platform which has not been tested. Ensure you use a demo account before committing to a real account.

Trading platform

According to information on the website, Hugos Trading is using a custom-made trading platform. And this is what makes us avoid such platforms as they prove to be unstable. Without proper security features such as DDoS and SSL encryption, this is a pure scam. Users are exposed to third party attacks which prove fatal. Hackers will easily take over this platform and steal personal data from users.

Safety of funds with Hugos Trading

Another disturbing feature with this platform is in regards to safety of funds. Without proper security protocol in place, Hugos Trading is putting funds at risk. With no segregation of accounts happening, pooling of funds in one account is happening. Members are unknowingly depositing funds straight to owner’s bank account. Make sure to stay away from this platform as it is a pure scam. No member has come out with evidence of ever withdrawing funds with this platform.

Scam or legit

Hugos Trading Trading Platform

Without a shadow of doubt, Hugos Trading is a scam waiting to pounce on unsuspecting investors. You should be careful when the so-called account managers ask about your personal details. Never share your contact details with any of the staff of this platform. Mark their emails as spam and never click on any links sent by this platform. Warn your family and friends from signing up with HugosTrading.

Final verdict

We will be adding this platform to our scam blacklist and ensure our readers stay informed.

You should also get a better and proven alternative in the form of experienced brokers. Sign up with credible and trustworthy brokers.

Wishing you the very best in your Forex trading.

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