Forex traders are constantly looking for brokers offering favorable trading conditions, affordable minimum deposits, and a trusted reputation within the trading community. Even sometimes traders settle for offshore forex brokers to enjoy unrestricted free trading conditions. Hugosway is an online offshore forex and CFD broker that offers a wide range of trading instruments, including CFDs.
If you consider using Hugosway as your broker, you may be wondering about the minimum deposit requirements and deposit conditions of Hugosway. In this guide, we will provide you with a comprehensive overview of Hugosway’s minimum deposit requirements, deposit process, and other important information you need to know before you start your trading journey.
Hugosway Minimum Deposit Explained
The minimum deposit of Hugosway is between $10 and $100. The minimum deposit for direct Bitcoin deposit is $10, $50 for Bitcoin via Instacoin, and $100 for wire transfers via Instacoin. InstaCoin is a cryptocurrency exchange platform that allows users to buy, sell, and trade various cryptocurrencies. Hugosway does not charge any fees for deposits or withdrawals. However, the blockchain network might charge a small fee for transactions. Deposits are almost instant; however, it may sometimes take 1 to 6 hours for the blockchain network to confirm the transaction. This turnaround time (TAT) is applicable for all types of crypto transactions and is not related to Hugosway
Hugosway Overview
- Founded In: 2017
- Trading Instruments: 200+ trading Instruments including Forex, CFDs, Crypto CFDs, Futures, Indices, Metals, Stocks
- Minimum Deposit: $10 for Bitcoin, $100 for Instacoins
- Maximum Leverage: 1:500
- Regulations: None
- Trading platform: Pro4
- Account Types: Live account, Demo Account
- Payment Options: BTC, Instacoins, Wire Transfer via Instacoins
- Trading Styles: Allows all trading styles including scalping, Copy Trading, EA Trading
- US Traders: Accepted
How to Fund Your Hugosway Account: A Step-by-Step Guide
Step 1: Log in to Your Hugosway Account
To fund your Hugosway account, you’ll first need to create your Hugosway account or log in to your existing account. Open your preferred web browser and go to the official Hugosway website. Then visit the login section. You will find it in the Manubar. Enter your registered username and password in the provided fields and click on the “Log In” to access your account dashboard.
Step 2: Go to the Deposit Section
Once logged in, go to the deposit section within your Hugosway account. This section is typically located in the main menu or sidebar of the platform. Look for options labeled as “Deposit,” “Funding,” or similar terms. Click on this section to proceed to the next step.
Step 3: Choose Deposit Methods
In the deposit section, you’ll find available deposit methods for funding your Hugosway account. These methods may include direct Bitcoin deposit, Bitcoin via Instacoin, and wire transfer via Instacoin. Hugosway currently does not offer any other deposit methods other than Bitcoin.
Step 4: Enter Payment Details
Once you’ve selected your preferred deposit method, you’ll need to enter the relevant payment details to start the transaction. Depending on the chosen method, this could involve entering your Bitcoin wallet address for direct Bitcoin deposits, following instructions provided by Instacoin for Bitcoin transactions, or providing bank details for wire transfers via Instacoin. Ensure that you accurately enter all required information to prevent any delays or errors in the funding process.
Step 5: Complete Process
After entering the necessary payment details, carefully review the information to ensure accuracy. Once satisfied, proceed to complete the deposit process by following the instructions provided on the platform. This may involve confirming the transaction, verifying any security measures, and completing the deposit. Upon successful completion, the funds should be credited to your Hugosway trading account which allows you to start trading on the platform.
How to Withdraw Funds from Hugosway
To withdraw funds from Hugosway, follow these steps:
- Log in to your Hugosway account.
- Go to the “Withdraw Funds” or “Withdrawal” section.
- Select your preferred withdrawal method (e.g., Bitcoin, wire transfer).
- Enter the amount you wish to withdraw.
- Follow any additional on-screen instructions for your chosen withdrawal method.
- Confirm the withdrawal request.
- Wait for the withdrawal to be processed by Hugosway.
Frequently Asked Questions (FAQs)
What is Hugosway?
Founded in 2018, Hugosway is an online forex broker that offers trading services to traders worldwide. It enables traders to buy and sell a wide range of trading instruments, including forex, CFDs, and Crypto CFDs. Hugosway is an offshore forex broker, with its headquarters located in Seychelles. Currently, the broker does not support Metatrader (MT4/MT5) trading platforms; instead, it uses Pro4 as its trading platform.
What is the minimum deposit for Hugosway?
The minimum deposit is:
- $10 for Direct Bitcoin deposits
- $50 for Bitcoin via Instacoin
- $100 for wire transfers via Instacoin
What is the Maximum Deposit of Hugosway?
Hugosway does not have a maximum deposit limit. You may deposit as much as you want.
What currency can I deposit into Hugosway?
Hugosway accepts only crypto deposits such as Bitcoin and Instacoins. So you can not deposit using any other methods.
How much does it cost to deposit in Hugosway?
Hugosway does not charge any deposit fees. However, the blockchain network might charge a small fee.
How long does it take to deposit on Hugosway?
Deposits are usually instant. However, sometimes it may take 1 to 6 hours for the blockchain network to confirm the transaction.
How much should I deposit in my Hugosway account?
You may deposit any amount you want. If you are a beginner, you may start with as little as $100 or less. As you gain knowledge, you may deposit your desired amount and start trading.
Final Verdict :
Offshore forex brokers usually accept only crypto deposits and withdrawals. So it is always a challenge for traders to deposit on those platforms. Like other offshore brokers, Hugosway also accepts only crypto deposits and withdrawals. However, it does not charge any fees for these transactions. Deposits are usually instant; but, sometimes it may take 1 to 6 hours for the blockchain network to confirm the transaction.
If you are looking for offshore forex brokers for unrestricted trading facilities, Hugosway can be a good option. However, offshore forex brokers are unregulated and unauthorized. Therefore, trading with these brokers always carries high risks.
Disclaimer: Trading forex and CFDs comes with the risk of losing your trading capital. Moreover, trading with offshore forex brokers like Hugosway puts your funds at higher risks
