ANSWER Hugos Trading is an UNREGULATED broker and should be avoided at all events. Hugos Trading claims that the services of its website are related to and provided by Hugos Trading Trading Services Ltd (Seychelles company) and Prime Technologies Ltd. (Saint Vincent and the Grenadines company). However, we didn't find any matching about its registration or regulation from Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) and Seychelles Financial Services Authority (Seychelles FSA). So currently Hugos Trading is actually not regulated by any financial regulator. That means investors' funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is thoroughly a scam. We would recommend traders to stay away from unregulated brokers like Hugos Trading and trade with licensed brokers.
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