In this review, we will describe why Hugos Trading is a scam that you should avoid at all cost !
Is Hugos Trading Legit?
Hugos Trading is an unregulated broker owned by Prime Technologies Ltd based in Saint Vincent and the Grenadines, a well known offshore zone. Problem with unregulated brokers is that they are not reliable and abuse the regulations. Make sure to stay away from this broker as they are anonymous and that they can disappear any time without notice.
To make sure you are dealing with a regulated and known broker, you should be able to find easily who is the CEO of this brokerage firm, who is running it etc. Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY. This is the reason why Hugos Trading is a dangerous broker to deal with.
Are Funds Safe with Hugos Trading ?
With such lack of information and Hugos Trading being unregulated, funds are not safe. Security of funds is a huge problem with unregulated brokers. A red flag that we noticed is Hugos Trading is withholding vital information to users.
Hugos Trading could go bankrupt from one day to another since there are no banking information about this broker.