✔️ Information reviewed and updated in December 2023 by Pedro Martínez González
In this section we will tell you why You should NOT invest in Hugo FX. We analyze the website, we observe every detail and we examine the main characteristics that are taken into account when choosing a good broker such as the location, the company to which it belongs, its regulation, its reputation…
A pocas palabras WE DO NOT RECOMMEND IT. Below we will show you essential information about Hugo FX and we will tell you why we reached such a conclusion:
Basic Information
| 🌐 Website | hugosway.com |
| 🏠 Company* | does not mention it |
| ️ Regulation | Not regulated |
| [email protected] | |
| 📈 Leading | MT4 |
| 📌 Address | House of Francis, Room 303, Ile Du Port, Mahe, Seychelles |
⚠️ Hugo FX does not mention who owns it, the company is located in Seychelles, potentially dangerous for its clients due to its lack of regulation and lack of seriousness. Clients are unprotected. The company is located in a very unsafe place, be careful. ⚠️
Account types
Now we will analyze the account types offered by Hugo FX, in this case, we observe that it does not offer account types.
Information on the web
Hugo FX provides a basic explanation of the financial products it offers, market news and analysis, economic calendar, asset calculator, live charts, really not much more than this.
List of phone numbers
At the moment we have not found phone numbers.
🚫 Final evaluation of Hugo FX 🚫
Finally, and in a few words, our recommendation is: DO NOT INVEST WITH Hugo FX.
As we mentioned before, it is a financial company located in a place where you will not have protection from the law in case of being harmed, that is, you will not be able to claim anyone if an unfortunate event occurs such as the sudden loss of your funds or the closure of the company.
In case of problems, it is most likely that the authorities of your country will not be able to do anything. As a client of this company you are unprotected!
Investing with unregulated brokers or brokers based in such countries is very risky. It is best to invest with a regulated broker, based in a serious country.
Updates
News about Hugo FX:
| Date | Update – news |
|---|---|
| July 2023 | We receive a large number of messages from Hugo FX clients who claim that they cannot withdraw their capital. |
| October 2023 | Complaint against financial regulator Hugo FX CNMV. |
User Reviews
What is your opinion? We invite you to collaborate with us and vote. You can also leave a comment about your experience with Hugo FX.
At the end of the review you will find customer comments.
How to Claim Money Scammed by Hugo FX
If what you want is to know how to claim your capital, if you have been scammed, further down in the FAQ section you can find our advice.
How to Report Hugo FX
If you feel dissatisfied with the service provided by the company, and for some reason you want to report it, below, in the FAQ section, you can find the best way to report this company.
FAQs
How can I report Hugo FX?
This depends on where you are, you should go to the financial regulator in your country. Write us a comment on this review and we will help you.
Is Hugo FX a scam – is it a scam?
Yes. We believe that Hugo FX is Scam. We have received messages from clients who mention not being able to withdraw their capital, this added to other very negative characteristics of the company.
Is Hugo FX reliable?
No. Hugo FX is not reliable, it is a very unsafe company: 1) is based in unsafe countries, 2) has a very bad reputation 3) has a lot of complaints 4) It is a relatively new broker without seniority. These characteristics make the company very unreliable.
How to recover money from Hugo FX?
If you want to know how to recover your capital, you can see it here. We explain in detail the process of recovering money from a scam company, step by step.
Are there (recommended) alternatives to Hugo FX?
Yes, of course there are better and safer options! You can see here the brokers we recommend: ranking of the best brokers.
The CNMV denounced this company, be careful
Hello ANONYMOUS, thank you for commenting on HUGO FX. It is currently considered a SCAM. The CNMV (The Financial Regulator of SPAIN) has put an alert on them, for not having the regulation to carry out their activity (See CNMV link).
If you are a client, do not make more contributions, their only objective is to steal from you, they manipulate operations manually, they keep the money from when it reaches their accounts, it does not enter the market, everything is prepared for you to lose or make you lose your money to have the excuse to keep it.
If you decide to withdraw and they request a ransom in the form of commissions, taxes, fees, legalizations, etc. Never pay it! That's the warning, from that moment you have to know that you are a client of a scam broker and no matter how much you pay you will never see your money.
To help other users or customers, provide as much information as possible, explain how everything happened, where you saw the advertising, who called you, numbers from which you were dialed, emails and everything that comes to mind.
If you want to recover your money go to our chat or check the form in this link: CLAIM YOUR MONEY
Greetings.
I have an acquaintance investing, but I don't want them to steal my money or scam me. Can you help me? Blessings.
Hi Juan, thanks for writing about Hugo FX. Currently this broker is considered a SCAM.
If you are a client, do not make more contributions, their only objective is to steal from you, they manipulate operations manually, they keep the money from when it reaches their accounts, it does not enter the market, everything is prepared for you to lose or make you lose your money to have the excuse to keep it.
If you decide to withdraw and they request a ransom in the form of commissions, taxes, fees, legalizations, etc. Never pay it! That's the warning, from that moment you have to know that you are a client of a scam broker and no matter how much you pay you will never see your money.
To help other users or customers, provide as much information as possible, explain how everything happened, where you saw the advertising, who called you, numbers from which you were dialed, emails and everything that comes to mind.
If you want to recover your money go to our chat or check the form in this link: CLAIM YOUR MONEY
Greetings.