Hugosway no deposit bonus
Before you start your grand adventure and explore the leading array of no deposit bonuses you can find at our casinos, it is worth ensuring that you know what you are getting yourself into.
Top-3 forex bonuses
No deposit bonus codes for january 2021
What better way to try out a new casino than for free? Well, that is what a no deposit bonus gives you: the ability to play games without spending a penny.
What is more is that you can win real money, too. That is right; no deposit bonuses give you the potential to win big before making a deposit. Obviously, before we can cash out winnings, we need to complete wagering requirements and pay attention to other terms and conditions.
For instance, winnings are usually capped at a certain amount. Do not worry, though; we have all the required information for every single no deposit bonus and for every single casino. The only thing you will have to do, besides claiming a free bonus, is to check out the details.
There are two different types of no deposit bonuses on offer. These are typically free chips time limit, and no deposit spins. The former provides free cash (bonus amount) to players, which they must use within a given period on a variety of games. The latter offers free spins on top slots (often selected games), with anything you win yours to keep, within the confines set in the terms and conditions.
Below you can find a list of the best and latest no deposit bonuses, including codes, where required. Should we find a new no deposit bonus, we will immediately add it to the list. (last updated: 23rd jan 2021).
Online casino no deposit bonus & codes - overview
While most casinos will offer you free drinks and snacks as you place your chips on their tables, online casinos cannot compete. After all, they are not likely to hand you a glass of champagne through your monitor, are they? Instead, they offer you no deposit free bets, and here at freeextrachips, we tell you which ones give you the most.
What do we mean, exactly, though?
Well, put simply, these free casino no deposit bonuses are handed over without you needing to spend a single cent. Just sign up to the online or mobile casino and start playing your favourite games for free. At freeextrachips, there is a lot more than just a vast collection of free bonuses, though. With a whole host of other bonuses listed on the site, you will find precisely what you are looking for, whether you are a big fan of the latest slots or a blackjack fanatic.
What is a free no deposit bonus?
Put simply; a no deposit bonus is where a casino hands out a tidy little bonus before you have deposited a penny in the casino. Unlike the more common deposit bonus, you get bonus cash in your hand to try out all a casino’s games for free. Basically, with a no deposit bonus, you are getting a free bet.
The exact nature of these bonuses and promotions will vary from casino to casino. Some may be substantial offers but come with strict terms and conditions. Others are liable to be more on the petite side, but let you get away with a lot more regarding playthrough rates and other rules.
Before snapping up any free bonus, it is always worth reading the terms and conditions attached. It is also worth checking out similar offers at other casinos. There is still likely to be a casino site offering a bigger, better deal than the one you are currently looking at. It is up to you, though, to decide which one to have a punt on.
There is no point denying it; free bonuses aim to lure you in to extending your stay and playing more. If you enjoyed the games you have just played for free, you are more likely to want to stick around and make a deposit. Here at freeextrachips, we not only list all the best no deposit bonus codes, but all the best first deposit bonuses, top high roller bonuses, and a lot more besides. With a list of the best online gaming rooms – including those open to UK & US players – you can plan your online gambling session with ease at freeextrachips.
How our top casino bonus list works
What should seem apparent by now is that the list of "free bonuses" above are nominal "no deposit bonuses". Some serve up free chips/cash and others free spins. Each casino has a little something different to offer you. What may appear less obvious to you is that the list has a standard order starting from the most recent bonus added according to your country of residence. It doesn't matter if you are visiting this page from the united states of america, canada, australia or even from new zealand or germany: the first bonuses and the relevant promo bonus codes attached to them that you will find at the top of the list will be the latest offers which are available for your country. If this format doesn’t work for you, you are at liberty to change the order of the no deposit bonuses as per your convenience using a series of handy filters that you will find at the top of the list. Notable filters include exclusive bonuses, standard (general) bonuses, those which require promo bonus codes, wagering requirements and more besides.
By using our filters to scan through a wealth of bonus offers, you can rapidly find what you are looking for at freeextrachips.
Quick filters (countries) for your convenience
See also
Online casino no deposit bonuses – A brief FAQ guide
Before you start your grand adventure and explore the leading array of no deposit bonuses you can find at our casinos, it is worth ensuring that you know what you are getting yourself into. If you have any lingering queries or questions, or FAQ guide may just be the ticket for you.
What does A no deposit bonus mean?
No deposit bonuses allow a first-time player in selected casinos with such offers to play without spending any money. It is a promotional strategy by free casinos to attract new members to try out their services. While you do not have to spend a penny to play, there is no guarantee that you will win, or be able to cashout the entirety of any winnings you land.
Can I cashout my winnings?
Almost certainly. Most no deposit bonuses can be withdrawn, provided that the player has fulfilled any obligations regarding wagering requirements. Playthrough rates (another name for wagering requirements) vary from site to site and offer to offer. Good, fair online casinos will set those rates at anything from zero to 40x. Playthrough rates of 50x up to 60x are not uncommon. No deposit bonuses which have wagering requirements of 90x are not worth your time.
Is having more than one account per casino allowed?
No. Regrettably, free casinos with no deposit bonuses only permit players to claim the offer once. Creating multiple accounts is not accepted. You can easily see why. Otherwise, we would all keep signing up time and time again until we win. Fictitious or duplicate accounts will be terminated immediately.
Can a free bonus allow me to play all games?
This question can only really be answered by the casino you choose to play at. Free spin bonuses are naturally only valid on slots, and some may be tied to specific games. Free chips and cash are more versatile offers in that regard. You can find eligible games in a no deposit bonus’ terms and conditions.
Can I win real money by playing with a free bonus?
Yes, it is possible to win real money by playing with a no deposit bonus. You should note, however, that most of the online casinos that offer this type of bonus will put a cap on the allowed winnings generated by free cash and spins. At some online casinos, you can cash out those winnings after fulfilling your wagering requirements. At others, the winnings are credited as bonus cash (non-withdrawable funds), and some may even require you to deposit before winnings from no deposit bonuses become withdrawable. As you can see, the exact nature of each deal varies from site to site. Are there no deposit bonuses which can see you win real money, though? Absolutely, and our page features a good number of them.
How to claim a no deposit casino bonus?
The specifics of how to claim a no deposit casino bonus will vary. It all hinges on which no deposit casino you intend to join. Some require a coupon code (again, provided in our list) to be entered during the registration or log-in process. Real time gaming (RTG) casinos, for instance, are known for this. You will need to provide your coupon code after you have signed up and logged in by visiting the cashier page. On the other hand, pragmatic play casinos will ask for the coupon code during the registration process. This is entered directly into the e-form upon sign-up. There are also other types of casinos run with software from microgaming, playtech, and rival which do not require any bonus or coupon codes. After you have duly registered and logged into your account the no deposit bonus will be credited accordingly. Players at these sites also have the choice of opting out of the bonus if they do not wish to claim it at all.
Now that you know a bit about no deposit bonuses and the casinos which carry them, it may be time to get started. Scroll back up to our list of top no deposit deals to find your ideal offer and snap it up today.
Your best free USA no deposit bonus codes for january 2021
At nodepositrewards, you'll find the best no deposit bonuses for US players. All casinos featured on this page accept players from the united states and let you play with US dollars.
By forming long-standing relationships with the casinos we work with, we're able to negotiate exclusive deals and offer a unique selection of bonuses and free spins that you won't find anywhere else.
The bonuses we list come courtesy of reputable casinos that are licensed by trusted gambling authorities. Furthermore, our team of experts puts all casinos through rigorous testing to ensure they have fair bonus terms, current offers and meet our quality standards.
Our latest no deposit casino bonuses in the unites states for january 2021
US no deposit casino FAQ
No deposit bonuses are sign-up incentives that casinos give players without requiring them to make a deposit. These bonuses are a small amount of bonus credits, typically ranging from $5 to $20.
You can mostly use these bonuses on slots, and usually won't be able to win more than $50 in real money.
Some casinos require you to enter a specific bonus code when claiming their no deposit offers. Where relevant, you’ll always find the bonus code clearly stated in our top lists and casino reviews. To receive the bonus it’s crucial that you use the bonus code.
Nodepositrewards lists the best no deposit bonuses for US players. We work diligently to find outstanding bonuses and negotiate exclusive deals with our chosen casinos. Explore our list and choose from a variety of generous no deposit bonuses offered by reputed US casinos.
Yes, you can win real money with a free no deposit bonus. And if you want to increase your chances of winning as much as possible, we suggest you claim several offers.
However, you always need to complete the wagering requirement and be aware of all terms and conditions. On this page, we cover everything you need to know about wagering requirements and casino bonus terms.
Types of USA no deposit casino bonuses
US players can choose from two types of no deposit bonuses:
No deposit free spins
No deposit free spins are spins that a casino gives you when you register an account.
Here's what you need to know about them:
- You receive between 20 and 200 free spins.
- They have a pre-set coin value.
- They're usually only valid on one, or several, specified slots.
No deposit bonuses
No deposit bonuses are bonus credits that you get on sign up.
Here's what you need to know about them:
- They typically range from $5 to $20.
- They're often valid on a wide range of slots.
- You have to make sure that you don't exceed the maximum stake.
How to claim free money bonuses with no deposit bonus codes
To play casino with free money, you often have to use a no deposit bonus code. If you look at our top list, you'll see that most of our US casinos use bonus codes.
This means that you must enter the specified code to get your bonus. If you forget to enter the bonus code in the sign-up process, you won't get any bonus.
Here's how you claim an offer with a no deposit bonus code:
- Choose a casino from our list and copy the bonus code. For instance, if you want to claim coolcat casino's no deposit offer, you need to copy the bonus code 25BANKROLL .
- Click on "claim now" to be redirected to the casino sign-up page.
- Enter your details and complete the sign-up process.
- Go to the cashier and enter the bonus code.
- Play! You'll find your bonus or free spins ready in your account.
How to get a free USA no deposit bonus without bonus codes
Not all casinos use no deposit bonus codes.
Here's how you get a no deposit bonus without using a no deposit bonus code
- Pick a casino from our list and click on our "claim now" button.
- Register an account and activate your bonus. Depending on which casino you've chosen, you will have to activate your bonus in one of two different ways:
- By activating your bonus in the cashier (usually chosen from several active offers in a drop-down list), or
- By contacting customer support and asking them to activate your bonus.
Sometimes, free spins are automatically activated upon registration. In such cases, you'll find the free spins ready to play in the selected slot(s). Read our casino reviews to find out how to activate a bonus at your chosen casino.
US no deposit bonuses or free spins – which one is best?
When scouting no deposit offers, you have to compare the actual value of different offers. To do this, you multiply the bet size by the number of spins.
20 free spins on starburst = 20 spins x a minimum bet size of $0.01 = A total value of $2,00.
When comparing this offer to a $5 no deposit bonus, for example, you can see that the bonus is a better deal. Furthermore, many players tend to prefer no deposit bonuses because:
- They're not tied to specific games.
- You can play with any bet size (as long as you don't exceed the maximum bet).
However, there are other things you must consider when comparing no deposit offers. For instance, all no deposit offers have wagering requirements. And casinos commonly put higher wagering requirements on bonuses than free spins.
Furthermore, there's a fundamental difference in how the wagering requirements are applied:
- Wagering a no deposit bonus - the wagering requirement is applied to the entire bonus sum.
- Wagering no deposit free spins - the wagering requirement is applied to the amount you've won with your free spins.
As you can see, the sum you have to wager can become quite small if you get a modest free spin win. And this means you have a better chance at converting your bonus to withdrawable cash. To summarise, choosing between a no deposit bonus and free spins is mostly a matter of personal preference.
Terms and conditions you should be aware of with USA no deposit bonuses
No deposit bonuses always have terms and conditions.
Here are the things you need to be especially aware of:
- Wagering requirements
- Maximum bets
- Withdrawal limits that apply to bonus funds
- Games that are excluded from bonus wagering
- Expiry dates
- Bonus abuse policies
How wagering requirements work
You need to have a good handle on wagering requirements before you claim a no deposit bonus.
Here's an explanation of how they work:
- Your player account has two balances - a bonus balance and a cash balance.
- Funds you deposit are credited to your bonus balance. Free spin winnings and bonuses end up in your bonus balance.
- You can only withdraw the funds in your cash balance.
- To convert bonus funds to withdrawable cash, you need to play for a specific amount- this is what is referred to as a wagering requirement.
Wagering requirements are always a multiplication of:
- The amount of bonus credits the casino has given you, or
- The amount you've won with your free spins.
Typically, casinos apply wagering requirements of between 30 and 45 times these amounts.
Here are two examples that explain all of this in context:
Let's assume you win $100 with your free spins. The wagering requirement will now be applied to the sum you've won:
$100 free spin winnings x a 35x wagering requirement = $3,500 to wager.
When you've staked a total of $3,500, any remaining bonus funds will be instantly transferred to your cash balance.
New no deposit casinos for 2021
There are a number of online casinos that offer the no deposit bonus. The challenge is in picking out one casino that works for you and offers the best no deposit bonus. We simplify this task by listing out the top no deposit online casinos for you.
Every casino on our list is tested and reviewed by our team of experts for all those parameters that go into creating a high grade online casino. The special focus is on the no deposit bonus available and, more important, the terms associated with each of them.
You get the latest and best no deposit casinos when you are with us because our team ensures that it is constantly updated:
- We add new casinos offering exciting no deposit bonuses to our list.
- We update the no deposit bonuses at each casino regularly.
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Best casino bonuses
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Our list of new no deposit casinos
Go through our list of new no deposit casinos below and pick out the one you want to play at:
All about the bonus codes for no deposit bonuses
There are two different ways in which you can claim the no deposit bonus at these casinos – directly by clicking the link provided for the bonus or by entering the required bonus code. The bonus code is unique for each no deposit bonus. This is to ensure easy and hassle-free access to the bonus.
It also enables the casino to track each bonus separately and determine a number of things including:
- The details about the player who accessed it, as he will enter the bonus code once he has signed up.
- The point where the player got the code from – directly from the casino or from an affiliate. Getting it from the affiliate works well for the player as their relationship with the casino enables them to offer exciting exclusive bonuses that the player would not get even at the casino.
- The validity period for the bonus.
The bonus code, if it is available, is critical because you cannot claim the bonus until you enter the code. Providing the bonus code to the casino is a relatively simple exercise and the way it works depends on the casino you are at:
- Typing in the bonus code into the required field on the account registration form. You can also simply copy and paste the code into the field.
- Speaking to the casino’s support team and providing the code to them after you have registered.
- E-mailing the bonus code to the support team.
The latter two methods are followed only at specific casinos and the casino will provide this information along with the details about the bonus and bonus code.
Playing in real money mode with the no deposit bonus
There are a number of reasons why the no deposit bonus at US online casinos is so popular. One of the most important from the player’s point of view is that it allows you to play some of the best games available in real money mode without spending your own money.
Regardless of the kind of no deposit bonus, you are guaranteed a shot at playing the best games. The free credits or cash no deposit bonus is applicable usually to most of the casino games – the ones not covered by it are listed out in the bonus terms and conditions – and this means you get to pick from the best.
The no deposit free spins bonus, on the other hand, is usually limited to one slot. However, that works for the player too as the casino will usually assign this bonus to its best and most popular slot.
Sign up with any of the no deposit casinos on our list and you are guaranteed a chance to play the best games around for real money. All these games are fair and come with cool features and bonuses to make it more exciting for you.
Our parameters for testing no deposit bonus casinos
There are a number of reasons behind the popularity of no deposit casinos, the biggest being the fact that you get a bonus that you can use even before you deposit funds into your account. We take into account all these factors when it comes to listing out the top no deposit casinos.
Some of these are listed below:
Reputation of the operator
We check every online casino for the reputation of the operator. In an industry that has exploded over the years and continues to do so, reputation goes a long way in reassuring players about core issues like safety, fair play, reliability, and security.
Software provider behind the casino
We check the online casinos that we come across for the software they use. All the online casinos that make it to our list are powered by software from the best in the business.
Casinos powered by multiple software vendors
One of the changes we have seen in the way operators use casino software is in the emergence of multi-platform casinos: casinos that use software from multiple vendors.
The multi-platform casino is a huge benefit for players as it allows them to play the best games from the best in the business at a single casino. A secondary and equally critical benefit is the massive surge in the number of games available; some of these casinos offer more than a thousand games. Add to all this the fact that you get games directly in instant play mode and you can see why these casinos are so popular.
That is why you find a number of multi-platform casinos in our list of top no deposit casinos. These casinos use software from providers of the caliber of real time gaming (RTG), betsoft gaming, rival gaming, and many more.
Availability of desktop and mobile variants
We look for casinos that have both desktop and mobile variants. The reason for this is obvious – you can access any of the casinos on our list from multiple devices – desktops, laptops, android smartphones and tablets and ios devices including a range of iphones, ipads, and the ipod touch. Some of the casinos are also compatible with windows phone devices and also blackberry devices.
Multi-platform compatibility is made possible with the development of all the games in HTML5. This makes it possible to also access the devices from multiple browsers like google chrome, mozilla firefox, and safari, among others.
No deposit slots bonus
A lot of people prefer to play online slots. The fact that they are based on luck and luck alone makes them more adventurous compared to the other casino games. The thrill of seeing the reels lining up perfectly and hitting a nice payout combination has never been greater. Because of their popularity, to suit the tastes of all slot fans, online casinos offer slot games in abundance. The all come in different formats, sizes, pay tables etc.
Additionally, online casinos attach exclusive bonuses just for slots. Examples of them include the welcome slots bonus and the no deposit slots bonus. The last one is definitely the most lucrative.
Read the following article to learn more about this type of bonus.
Featured offers
Why no deposit slots bonus?
If you like to play slots why not take advantage of the no deposit slots bonus. This bonus is given to players who sign up with an online casino for the first time and no deposit is needed to claim it. The biggest benefit of this bonus is that you don’t have to risk any of your own money because you are playing with casino money.
Additionally, the no deposit slots bonus allows you to familiarize with the casino and try out their slot games on offer. Last but not least, you get to keep the winnings you make from this bonus and you can cash it out after you meet the wagering requirements. There are two types of no deposit slots bonus casinos give to slot fans- the one that comes in form of free spins and the other one the comes in form of free cash.
Free spins
To claim this type of bonus you have to register a real money account with an online casino that offers it and claim the free spins. But you should have in mind that most casinos offer free spins on specific slots; you cannot play all of them. In addition, the terms and conditions of the no deposit free spins bonus always have a section that refers to the wagering requirements.
An example of this type of bonus is the no deposit 25 free spins players can use on a couple of slot games. All winnings made by the free spins must be wagered 40x before they can be withdrawn from the casino.
Wagering terms
The no deposit slots bonus comes in form of free cash which is usually between $10 and $60. Players can use it to play different types of slots and these casino games count 100% toward meeting the wagering requirements. Wagering terms and conditions do apply for this bonus.
For instance, in order to cash out a no deposit slots bonus of $20, you have to wager the bonus 60 times on slots. Games like progressives don’t count toward meeting the wagering requirements.
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Week 53 – 4 new no deposit bonuses
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Week 52 – 4 new no deposit bonuses
We want to close this year by giving you exciting no deposit casino bonuses filled with free spins and more! Remember you can sign up at any one or all four of these above casinos and claim all.
Week 36 – 4 new no deposit bonuses
Get your september off to a rocking start by enjoying these great welcome bonuses from the below casinos. As always, we’ve sourced only the finest new no deposit casinos with some of the hottest no deposit bonuses around.
Hugo’s way broker review – an in-depth look at this offshore FX broker
Hugo's way broker review
Hugo’s way is an unregulated offshore forex broker. While they are unregulated, they still offer many major markets for their traders to use, along with a variety of tools and features. Is hugo’s way the way for you? Read our review to discover more.
About hugo’s way
Hugo’s way is an offshore forex broker which was founded in 2017. They are based in the seychelles. The broker, like some other forex broker reviews we have completed, are unregulated. This is quite common considering where they have chosen to base their operation.
Hugo’s way still offers many major markets for potential traders to take advantage of, including all of the major forex currency pairs you would expect to see alongside numerous other markets which we will detail later.
Our hugo’s way forex broker review will attempt to cover every important aspect of the broker to help you make the best decision when choosing a top forex broker 2019.
Account opening
Opening a hugo’s way demo account is a very fast and accessible process. To do so, all you need to do is complete some of your most basic personal information including an email address that you can verify when required. The process should take no more than 10 minutes to complete.
Opening a hugo’s way live account is a similarly pain-free task to accomplish. All you need to do is complete the basic information page and register your account profile together with verification for your identity and residence documents. This can all be completed online through uploading and should be completed relatively quickly.
Minimum deposit
The hugo’s way minimum deposit in order to trade is $100. This funding can be completed by bank wire transfer, credit card, or cryptocurrency payment in the form of bitcoin.
Availability and ease of opening
Trading with hugo’s way is made more flexible thanks to their offshore location in the seychelles. This means that even traders from the USA and canada can be accepted to trade according to the broker support team.
Some areas do remain restricted though. Those countries are as follows:
Cuba, democratic republic of congo(republic of zaire), iran, iraq, japan, lebanon, libya, malta, north korea, somalia, sudan, syria, vietnam, and zimbabwe.
Once you have passed that point you will find that hugo’s way offers one standard account type for trading to all users. This is similar in nature to some other major brokers like avatrade who generally try to stick with offering one type of standard account. This account however, should cater ideally or all of your trading requirements with the host of markets which are made available.
Hugo’s way product offerings
Trading at hugo’s way you can look forward to a vast range of markets being available for trading. These include the following:
- 28 forex currency pairs (major, minor & exotic)
- 31 forex/crypto pairs
- 75+ CFD markets across stocks, commodities, metals, futures, and indexes.
This wide selection of markets will be made available to satisfy your trading requirements and all through the medium of the trusted, longstanding MT4 trading platform .
Commissions and fees
Hugo’s way charges a minimal commission on trades. This commission is $5 per 100,000 currency unit lot traded.
In terms of other fees, deposits and withdrawals are largely fee free. The only deposit method which charges a fee is if you deposit via bank wire transfer. This will incur a $25 fee.
Hugo’s way also charges no inactivity fee.
Hugo’s way platforms and tools
Hugo’s way is a metatrader only broker. They offer trading through MT4 in desktop, webtrader, and mobile forms. When it comes to trading, hugo’s way also promotes the fact that they are a no dealing desk, ECN broker.
Desktop platform
The desktop platform on offer at hugo’s way is the ever present metatrader 4. Our metatrader 4 review goes into great depth on the platform and all of its features is you are new to trading forex and wish to learn more it is a great place to start.
As you would expect from MT4, it delivers a robust and highly efficient performance, providing access to some of the most extensive range of charting tools in the business whilst ensuring hassle-free and fast order execution which is very user-friendly.
Mobile trading platform
The mobile trading platform provided by hugo’s way to assist your trading journey is MT4 mobile. As with the desktop platform, this provides one of the most comprehensive offerings in the industry.
Through MT4 mobile, you can access much of the same professional tools and indicators, benefiting from all of the key features and order execution while on the move.
A flexible and accessible mobile platform, you can access your MT4 mobile account with any broker through the same one application. You will also have access to live industry news and comprehensive data from the economic calendar provided.
Education and research
Hugo’s way do not have a specific education section or training academy like some other brokers. Besides this, there are some excellent places where you can study and learn more about forex trading and the industry. We have reviewed many forex education services which may be of great help in increasing your knowledge levels.
Hugo’s way does provide a basic section which is periodically updated with some blog style news and research information if there are any major events within the industry. This is not particularly on the level of other top brokers though.
Differentiators
There are a few things which set hugo’s way apart from other brokers in the industry. The first is that they are very competitive in terms of the spread they offer and the wide range of cryptocurrency markets in which they are engaged. This helps to open up even more opportunities for potential traders.
Secondly, being based in the seychelles and not being under the thumb of more stringent regulatory bodies such as cysec allow hugo’s way to be more liberal when it comes to leverage. You will find maximum leverage extends up to 1:500 on some major markets. This can be great for high volume traders.
Hugo’s way customer service
Hugo’s way falls down slightly in this category as there is no phone support service offered. They more than make up for it with the hard work and good attitude shown by their email and website live chat based support team.
Both of these methods when tested responded quickly and with relevant, helpful answers to the questions posed.
Hugo’s way further facilitates positive customer support with the provision of an extensive FAQ section on their website which can prove very helpful.
Trustworthiness
This is an area which some traders may have reservations when dealing with hugo’s way. This primarily comes from the fact that they are based offshore and unregulated.
Typically, traders are advised to, and prefer to choose brokers who are well-regulated by respected financial bodies. Therefore it has to be raised as a valid concern that hugo’s way lacks such regulation.
With that said, any dealings we experienced in carrying out this review painted a transparent and positive picture of the broker.
Conclusion
Overall there are many positive aspects to draw on from hugo’s way. These include the offering of MT4, a very well-known and loved trading platform in the industry, and a very wide range of markets in a relatively fee-friendly way. This hospitality is extended to the very positive and helpful customer support.
With that said, traders should remain mindful that although they may have the best of intentions and be set to rise in the industry as a top forex broker, hugo’s way are largely unregulated and very new to the sector in terms of brokers.
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Hugosway review: scam update
Updated november 24, 2020
Is hugosway legit? A real hugosway review
This hugosway review will be answering these questions and more that you should know about this offshore forex broker. We’ll also answer the question if hugosway is regulated or not.
Hugosway has had a lot of bad reviews since they began operating in february of 2017. Many claim that the company is operating some kind of scam. One of the main issues that people have with hugosway is that they have a hard time withdrawing their money, there’s also a growing concern that they are not regulated.
Without regulation, a forex broker does not answer to anyone. When you are giving your hard-earned money to a stranger online, having them be accountable to a regulatory body is important. Read on to find out if hugosway is regulated and what you should do if you’ve already fallen for the hugosway scam.
Is hugosway regulated?
On the hugosway.Com website, when asked if they are regulated, their answer is a long one that basically says no, they are not. They go on to say that they are looking for the best regulation to protect all of their clients with the best coverage possible.
However, it has been more than three years so they should have found one by now. Those who are not regulated can get away with doing whatever they want because they have no rules that they must follow. In many cases, brokers who are not regulated abuse the system and are not reliable.
Hugosway is not a regulated broker. According to the national futures association (NFA), hugosway is not regulated in the united states. In addition, the retail foreign exchange dealer (RFED) has no record of them being a regulated broker in new zealand, australia, the european union, or anywhere else.
To put things in clear terms, hugosway is not a regulated broker anywhere in the world. They hold no license from any regulatory body worldwide, for this reason alone hugosway is a scam.
Complaints against hugosway
When looking at hugosway reviews online, there have been many complaints. Many of these bad reviews come from customers who have lost money or just cannot cash out due to many different reasons that hugosway seems to be fabricating as they go along.
This makes sense because without being regulated, they can make up any rules that they want to as long as the rules benefit them.
Hugosway review fraud
While there have been a few halfway decent reviews posted online, they seem suspicious since they have no detailed information about who they are. This is common practice and we can guarantee that a positive hugosway review is a fake hugosway review. It could also be a new customer who hasn’t tried to withdraw his or her money yet.
As a client looking for a good broker, the first thing to do is to check regulatory status. With hugosway not being regulated, there is no way to check them out, which leads you to believe that hugosway is a scam.
Is hugosway legit?
Based on what we’ve said above it would appear that the hugosway scam is the only thing that is legit about hugosway. However there’s even more to confirm any suspicions.
A fake address, really hugo?
When you look up their address on google maps, the beachmont business centre in kingstown, st. Vincent and the grenadines is not found.
If you dig a little deeper, the closest thing to this possible location that resembles a trading company is trader clube intelligent business at griffith corporate centre. The bad news about this is that they are also an unregulated broker with many complaints as well.
The company is listed as trader clube intelligent business limited but is not officially listed as a broker. It is listed as an investor club, which also needs proper regulation, but has none. The NFA advises that you only use regulated brokers with a license from cysec or FCA.
Smart tip: you cannot trust a company that will not provide a true name and address.
Further, the griffith corporate centre where this company is supposed to be located, has posted a notice about the misuse and abuse of suite 305 in their building. The notice states that they have received many negative reviews and complaints about companies in their complex. It goes on to say that you should contact the registered agent, wilfred services limited.
Further investigation on trader clube (trader club) finds that their website, traderclube.Com, is no longer functioning. The many complaints about this company were the same as with hugosway, they are unable to withdraw their money. Both trader clube and hugosway are linked to my coin banking as well, which is also no longer listed online.
Hugosway displays a fake address location on their website, that is enough to tell you that they are not a legitimate broker.
What is the hugosway withdrawal process?
According to the hugosway website, withdrawals are easy and are processed the same business day. However, if you continue to read below, you will see that they legally cannot return any profits to your debit or credit card. You can only get back the amount that you invested.
Any profit you have made with hugosway can be withdrawn by bitcoin or a bank/wire transfer. With bitcoin, you are told to create a withdrawal request in your account. For a wire transfer, you can get your profits deposited into your account for a fee of $25 per $5,000. It can take up to six days, according to the website.
However, this is where it gets complicated. There have been dozens of complaints about people waiting months for their money to be deposited. In fact, most people never got their money back at all.
The only cases where it seems that clients of hugofx received their funds back is in cases where the client was being convinced to deposit more money and received a small withdrawal in order to earn trust. You can read more about that here.
How can I get my money back from hugosway?
If you’ve been scammed by hugosway, let us know right away. We’ll let you know if and how you can get your money back.
If the company has not responded or is giving you the runaround, you should also email them directly to the compliance department as well as their customer service email address. Do not just rely on phone calls or online chats. You need everything in writing, so it is documented. Most importantly, contact us as soon as possible and we can guide you through the process of getting your money back.
Doing business with overseas companies can be dangerous, especially when they are not regulated. Without a recovery company, the chances of getting your money back from an overseas trader like hugosway is slim.
What makes it so difficult to get your money back from hugosway is their anonymity. They are structured so that even the most experienced investors have a hard time seeing the scam. Because hugosway is built on a trail of shell companies such as trader clube and my coin banking, it is difficult to build any kind of legal case against them.
Investor tip: there is no such thing as a profit tax for withdrawals. If your broker asks for profit tax, they are scamming you.
What is a recovery company?
Rather than spending a lot of money and time going through a civil action lawsuit, you can hire a recovery company to help. There are many recovery companies to choose from and you will need to do your homework with these businesses as well. Just be careful which company you choose as there are loads of scam recovery companies. Contact us if you’d like to know who can be trusted.
With so many scammers out there, recovery companies are becoming popular. The best way to get your money back from the hugosway scam is to hire someone who is experienced in recovering money in these types of situations. This can be tricky considering the number of fraudulent recovery companies that are operating.
Using a well-known reputable recovery company can get you your money back quickly. In fact, sometimes all it takes is the threat of a chargeback by a recovery company and your money will be miraculously restored to your account. However this is not always the case. If you need assistance in choosing one, let us know here.
What is a chargeback?
Getting a chargeback means that your credit or debit card stops payment and returns your money. To do this, you have to request a chargeback from your bank. However, there has to be one of these conditions:
- You did not authorize the transaction
- If your card was stolen or fraudulently used
- Your transaction was for services or goods that you did not get from the merchant.
You will have to familiarize yourself with the chargeback rules from your credit card or bank. For example, mastercard and visa let you apply for a chargeback within 120 days. Under some conditions, you can get this period extended to 540 days. American express does not have a time limit.
The company (hugosway in this case) has 20 to 45 days to respond to the chargeback, depending on the individual card company rules. If they do not respond, your chargeback is automatically approved, and your money is returned to your account.
Reporting the company to the proper authorities
If none of these options work, you should report the fraud to the authorities. In fact, even if you do get your money back, it is a good idea to report them anyway. The fact that they are trying to defraud people still stands even if they relent and give you your money back. Chances are good that they are going to do it again to someone else.
Conclusion:
Based on everything that we’ve covered it should be clear that the hugosway scam is confirmed and should be avoided by all means. If you are a victim of the hugosway scam, let us know and we’ll guide you how you can get your money back.
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Hugosway review
Hugosway is close to a utopian laissez-faire world of trading products. The ECN trading brand is new to the market and it brings about a gush of fresh wind in the form of flexible lot sizes, low minimum deposits, generous leverage, tight spreads, quick transactions, hugo insights, 24×7 trading with analytics, and a responsive customer support team. Being a new brand, it works on every classic complaint that traders have with well-established brokers.
However, its newness doesn’t comprise its spread and users can experience ultra-tight pips even during volatile market conditions. This is achieved due to hugosway’s unique order execution model called straight through processing, which relays order directly through a “pool of top-tier liquidity financial institutions”; popularly known as dark pool liquidity. Many other standalone features make hugosway a brand worth trying for avid traders. This article explores the highs and lows of hugosway and how well it targets the expectations of millennial traders.
Registration, KYC norms, and privacy policy
Hugosway is self-regulated and doesn’t operate under any government-license. However, it complies with global anti-money laundering laws and requires KYC documentation from high-value traders. The registration process is simple and you need a valid phone number and email id to get started. For small-volume traders, the platform doesn’t require any KYC verification. However, retail and big-volume traders have to go through a KYC verification process that includes sharing your identity proof, address proof, and bank details proof.
Asset verticals in hugosway
Hugosway has several asset classes for trading with generous leverage on almost all instruments. All markets are live 24×7, except for stocks and indices. Most instruments also have a wide range of order sizes. You can start trading with full leverage ratios with as little as $10. There is no limit on the upper side and you can trade between ultra-tight pips that are close to 0.
It is great for traders who rely on spread management strategies and can quickly book profits on micro price movements. Hugosway exceptional liquidity remains a key edge for all of its trading instruments.
- Forex – forex remains the mainstay of hugosway and it offers a comprehensive portfolio of fiats and crosses between them. Almost all major currencies like dollar, euro, british pound, australian dollar, canadian dollar, new zealand dollar, japanese yen, and swiss franc are available for trading. You can find a wide range of combinations with rare ones like CHF-JPY, NZD-JPY, and AUD-NZD in the major forex category.
- Exotic forex – hugosway offers rare trading opportunities in many exotic currencies like turkish lira, norwegian krone, swedish krona, russian ruble, chinese yuan mexican peso, poland zloty, south african rand, hong kong dollar, israeli new shekel, hungarian forint, and singapore dollar. All these currencies are coupled with either USD or the GBP for higher liquidity.
- Crypto currencies – one of the biggest game-changers in recent times is the development of the cryptocurrency trading market. Hugosway is a big name in this niche, offering the first big crypto-brokerage brand for trading across 30 different cryptos. Users can trader via USD or through high market-cap cryptos as well. BTC is the most active counter among cryptos and you can find several popular pairs with BTC.
- Metals – hugosway has a metals portfolio consisting of gold, silver, platinum, copper, and palladium. The dollar is the reference currency while trading in metals.
- Indices – traders can choose from a number of popular indices from all over the world like AUS200, JPN225, ESP35, NAS100, EUSTX50, SPX500, FRA40, UK100, GER30, US30, and HKG50. The indices are available in the form of etfs and are time-bound according to the individual market timings. The one big advantage is the ability to trade in micro-lots but still, enjoy high levels of liquidity.
- Stocks – hugosway brings out some of the most traded companies on global stock markets for trading. The brand provides up to 40x leverage on bracket orders with intraday validity. Loosely based on by robinhood’s preferred liquidity model, the orders of hugosway are clubbed together with big pools of orders from banks and other financial institutions. This gives you blazing fast speed on your order execution time and you can even trade with automated strategies without worrying about liquidity. Notable stocks on the hugosway list are netflix, AT&T, oracle, banco santander, procter & gamble co., microsoft, visa inc, twitter, and siemens.
Banking methods in hugosway
Banking in hugosway is quite tight and expensive. While other online brokers offer flexible banking solutions in the form of multiple gateways and extended limits, hugosway has taken a big step backward in this regard. Users can deposit funds in hugosway through credit/debit cards (up to a limit of $600 per transaction), online banking ($25 charge for deposits of up to 5K), and vload (a voucher-based gateway).
For withdrawals, the best way in hugosway is wire transfers to a nominated bank account. Users do need to verify their personal details before making a large cashout request. The total deposit made by a user will be returned to the original source of payment.
The profit component will be transferred to a bank account/card for a $25 charge on withdrawals up to $5k. It may take up to 6 days for the funds to reflect on your bank account via wire transfers. Cryptocurrency transactions require a small mining fee to be processed which is charged from the end-user.
Spreads in hugosway
Hugosway is slowly mastering the art of lowering its average spread. The average spread for FX major forex ranges between 0.6-1.0. Cryptocurrency is the most volatile with a spread ranging between 0.15-800. The BTC-USD spread on a normal trading day is less than 30. FX cross has spread near 1 while indices have an average pip of 2-4.
Trading platform of hugosway: meta trader 4
Hugosway uses one of the most powerful forex trading software; the meta trader 4 web trader. Developed by metaquotes software, it is used by several top brokers across the globe. The MT4 is seamlessly integrated with the hugosway platform so you can directly execute your trades on hugosway.
Moreover, MT4 offers advanced features for automating your trades according to your unique strategy. You can also copy trades of expert traders on board. Meta trader has a broad community of traders that regularly engage to discuss their trades and the platform. You can be part of a global trading community on the MT community of traders. The MT4 mobile app is available on both android and ios for a mobile trading experience.
Conclusion
For the beginner level trader, the advantages are low deposit limits, micro-lot sizes, and high liquidity. The platform is more tilted towards mid-level and advanced traders. Advanced traders get a lot of opportunities due to high leverage, trailing stop losses, and a wide range of trading instruments. We also appreciate the choice of MT4 as its trading engine as advanced traders can automate their traders and form complex strategies. All in all, hugosway is a great change towards a seamless trading experience.
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