URGENT: Hugosway Broker Update
As of Friday October 20th, 2023 I was made aware of the following information release from HugosWay.com
Hugosway is moving their trading platform to a new server and in doing so - the bottom line is - they are going to force any open trades to be closed at a loss on October 25th at approx. 12 CST.
If our trade is in profit, thats no big deal however IF we are still using funds to profit in the current trade (NZDUSD) we will "ALL" be forced to take a loss!
I spoke to them on live chat on Friday and all of this was confirmed; even though none of us were made aware of forced losses in April as they state.
Here is a link to their Facebook announcement: Click Here
HugosWay claims emails were sent, however only one person I know of who received the email; I personally did not and many did not so check your email - however announcing this on Friday the 20th while we are in a trade is just not soon enough.
I put in a support ticket and here is what I received in return:
=beginning of email received after support request:
Thank you for contacting us, and I trust this email finds you well!
On the 26th of October, all funds that were held in your MT4 account and the Vault will be internally migrated to the new dashboard (CRM). If you currently do not have a user account on the new dashboard, we will create one for you using the same email address associated with your old dashboard account. After this migration process, your funds will be available for trading or withdrawal on the new dashboard, just as you have been accustomed to.
If you do not have an account on the new site, you may click on the following link to create one: https://users.hugosway.com/signup
Here you will need to fill in the requested information and click the “Sign up” button at the bottom of the form once completed.
You will then receive a follow-up email to complete your registration with us.
Should you require any further assistance, please do not hesitate to contact us. We are available 24/7 via chat, emails, or call-back requests, alternatively, you can find further information on our FAQ page. We are always happy to assist.
Have a lovely day, and take care!
On Fri, 20 Oct at 8:18 PM , Terry Lamb <email@example.com> wrote:I have open trades that won't close by the 25th of this month, I do not agree to the forced losses and ask that my account be transitioned AFTER my current open trades close.
I'm certain you are as unhappy about this as I am; especially up against forced losses; but here is my perspective.
1. we will continue to trade moving forward and trade back any losses that are forced upon us.
2. I will be looking for another platform to work with other than HugosWay if possible.
FOREX TRADING/INVESTING DISCLAIMER:
U.S. Government Required Disclaimer - Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risks. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. Hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. All information on this website or purchased from this website is for educational purposes only and is not intended to provide financial advice. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold Forex Income System & Terry Lamb and any authorized distributors of this information harmless in any and all ways. The use of this system constitutes acceptance of our user agreement.
The typical forex trader does not make any money using this system. The Forex Income System & Terry Lamb does not guarantee income or success, and examples shown in this presentation do not represent an indication of future success or earnings. The company declares the information shared is true and accurate.