We do not recommend Hugo’s Way to South African traders as it is completely unregulated and trading costs are high. If you are looking for a good ECN/STP broker we recommend Axi or FP Markets.
Hugo’s Way is an ECN/STP broker with a single account type and support offered for the MT4 platform only. Spreads are wide for an ECN/STP broker, starting at 0.8 pips on the EUR/USD. Hugo’s Way also charges a 5 USD commission per lot traded, making this broker one of the more expensive ECN/STPs to trade with. Forex education and market analysis are almost non-existent and customer support is limited to a contact form and a live chat system.
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