Hugosway is a forex trading system created by Hugo Chabot. The system claims to be able to make you money in the forex market with a simple system that anyone can use.
The main idea behind hugosway is that there are only two possible outcomes for any trade, either it goes up or down. Therefore all you need to do is look for trades where the potential reward outweighs the risk and then wait for it to happen.
Hugosway Five Rules
Hugosway has five rules that are used to determine if a trade should be taken or not:
1. The trade must be at least 3 pips in your favor (or 1 pip if using leverage).
2. The maximum risk of any trade is no more than 5% of your account balance (or 2% if using leverage).
3. Only take trades on major currency pairs, never crosses or exotics, etc…
4. Only take trades when the price is above or below a moving average line (MA).
5. Always use stop-loss orders (SL) with at least 3 pips room on either side of your entry price.
Hugosway is an up-and-coming broker. They have been around since 2011 and are located in the city of London, England. They are regulated by CySEC (Cyprus Securities and Exchange Commission), which also regulates other reputable forex brokers such as AvaTrade, FXCM, and many others.
What it Offers to Users
Hugosway offers a wide range of products for a variety of trading styles including CFDs, stocks, bonds, commodities, and more. Their spreads are competitive with other brokers at 0.5 pips on EUR/USD and 0.8 pips on GBP/USD.
They offer web-based trading via their proprietary platform that features streaming news updates directly from Reuters. The platform supports the Windows platform only at this time but they do offer mobile apps for iOS devices (iPhone & iPad).
It is a large forex broker that offers a wide range of products and services for traders. It now offers several different trading platforms as well as different account types, including micro accounts and ECN accounts.
As a forex broker, Hugo Forex offers clients access to all major currency pairs as well as commodities, stocks, and indices. Clients can trade with up to 2:1 leverage or they can use the company’s SpotOption platform which allows them to trade binary options with up to 50:1 leverage.
It also offers an innovative trading platform called LITE that allows traders to automatically place trades based on technical indicators. This means that traders don’t have to make their own decisions about when they should buy or sell a currency pair; instead, they simply let the software do it for them!
Best MT4 Brokers
The best broker for MT4 will be one that has a good reputation, low spreads, a wide range of assets, and a huge selection of tools to help you trade.
Traders Union has tested numerous MT4 brokers and narrowed down our list to the best brokers for MT4 trading. Traders Union has reviewed several brokers and created the best mt4 broker list. Check out the best mt4 broker list here!
The following are some of the criteria used in the evaluation:
Range of assets – The more assets a broker offers, the more likely it is that you will find what you need to trade profitable trades.
– The more assets a broker offers, the more likely it is that you will find what you need to trade profitable trades. Spreads – Spreads are fees paid by traders when buying or selling an asset. They can be fixed or variable and they determine how much money ends up in your account after placing a trade (or being charged if you hold positions overnight). High spreads usually mean high commissions but low spreads tend to imply low commissions as well.
– Spreads are fees paid by traders when buying or selling an asset. They can be fixed or variable and they determine how much money ends up in your account after placing a trade.