After a month of HugoFX botching the launch of their new Customer Relationship Management (CRM) system, which led to traders not being able to access their accounts and MetaQuotes restricting their MT4 server access. This restricted access lead to them to start using Global Liquidity as a server to connect, which actually worked quite well after everyone had to create a new trading account and move funds back from their wallets, but they didn’t tell us that Global Liquidity was a temporary stop gap.
Hugosway couldn’t resist fixing what wasn’t broken just like there wasn’t a need to fix the CRM. So Hugosway moved from MT4 to TickTrader and once again we had to create new accounts and fund them from our wallets. Except this time, Hugosway is no longer providing MT4 accounts. You have to use TickTrader. I tried to use it but the software is so laggy and cluttered and it doesn’t show chart data before November 9, 2023 (What can I do with 2 weeks worth of chart data?). The interface attempts to look like a modernized MT4 but doesn’t quite get it right. As much as I think MT4 is one of the worst pieces of software in widespread use, it does work and it’s fast. TickTrader is not.
In the end, I decided that I didn’t want to be in the position of trying to figure out how to use the software when it’s entry time for a trade.
Hopefully Hugosway doesn’t botch my withdrawal as I empty my account.
I did get my withdrawal after some back and forth with Hugosway. They left me in pending status until I contacted them asking what’s the problem. They had the nerve to say that they needed to know why I was withdrawing before they would approve. That kind of pissed me off. I told them that this is like banking and I don’t have to give my local bank a reason or ask for permission to withdraw my own money. I asked them if don’t like the reason would they refuse the withdrawal?
After the exchange they immediately processed my refund. I’m lucky, because I think this may be a run on the bank and I’m glad I got my money out early.
Going to Tick Trader, any custom indicators, EAs, and Magic Keys hardware that are built for MT4 will no longer work.
well done, here … however you look at it, you can only have done the right thing, really, closing an account with an unregulated broker registered only in St. Vincent & the Grenadines!
still, you’d have to “bite the bullet” at some point, anyway, with support and updates for MT4 all being withdrawn; it was never really very safe to use anyway, from a retail trader’s perspective
