Fernandes signed for United in a £68million deal from Sporting Lisbon last month following lengthy negotiations, and the 25-year-old made his first start in the 0-0 home draw with Wolves.
"He is one of the best football players in Portugal," Figo told Sky Sports. "He is in the international team, a midfielder that can score. He has the quality to [score a] goal and to be in the box.
"I think it was a good buy, I just hope that he can adapt as soon as possible to a different league.
"He is a different player, he is not a striker [but] a midfielder.
"In these days the market is not so big so it is difficult to find players because everyone is looking for that and the production of talent is not as huge as in other generations. So sometimes you have to buy different players."