HugosWay review: Is it a legit or scam forex broker?
5 star HugosWay review by HeavenLeighRob, USA
I liked being able to open an account with $10 in the beginning. I know that isn't much to get started, but I was hesitant as a beginner and felt more comfortable starting with a small amount. I liked that this broker didn't pressure me to deposit more and that I was able to trade with lower than average spreads without depositing hundreds or thousands of dollars. It's also helpful knowing that their customer support team can be reached so easily in case it's ever needed.
What is HugosWay?
HugosWay is a forex broker online since August 2018. Headquarters is located in St. Vincent and the Grenadines and the broker is not regulated.
Hugo Fx trading instruments include over 55 currencies, 35+ cryptos, and 170+ CFDs including precious metals, stocks, indexes, and commodities.
MT4 platform is hugo sole trading platform. It is available as browser WebTrader, Mac and PC desktop versions, and also as Apple and Android mobile.
Hugo Way's special features are Bitcoin funding and withdrawals, and the notable company blog.
Please read HugosWay com Reviews below and share your live trading experiences with this broker.
Broker Details
Minimum Trade Size: | 0.01 |
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Maximum Leverage: | 500:1 |
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Minimum to Open Live: | $10 |
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Established: | 2018 |
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Address: | Beachmont Business Centre, Suite 65, Kingstown, St. Vincent and the Grenadines, Saint Vincent And Grenadines |
Contact: | support@hugosway.com |
Regional offices: | |
Regulators: | |
Prohibited countries: |
Trading platforms: | MT4, WebTrader, Desktop Terminal |
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Web Trading: | β Yes |
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Mobile Trading: | β Yes |
ECN: | β Yes |
Currencies: | (55+) |
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Cryptocurrencies: | (35+) Bitcoin, Litecoin, Ethereum |
CFD: | (170+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities |
Trading Conditions |
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EAs/Robots: | β Yes |
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News Trading: | β Yes |
Scalping: | β Yes |
Deposit Methods: | Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Bitcoin, VLoad |
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Withdrawal Methods: | Bank Wire (BankTransfer/SWIFT), Bitcoin, VLoad |
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Traders Reviews
Hugosway server to MT4 response time is horrible
Often I have to close and reopen my MT4 with no response at all.
Whenever I reached out to their useless support department they always say reinstall MT4 but I keep my system and MT4 optimize.

Ok Broker
Good experience

The Company stole my funds
"We are getting back to you regarding your recent withdrawal request.
Be advised that we have implemented some new security measures, to ensure that our client's funds are safe when in our hands, and when passed on to the client upon request.
One thing that is important to be informed about is that your Margin Level will be taken into consideration, should you have any open trades. This is due to the fact that the price of an instrument can gap upon opening, which can increase the risk of an account going into a negative balance when not having a healthy Margin Level. As such, this is now part of our security checks when approving withdrawals.
This is simply one of the checks executed to ensure that your funds are being released safely. Even if you do not have open trades or low Margin Level, we still require this time to look into the withdrawal and ensure we are releasing it in a secure manner.
The withdrawal will be approved as soon as it is safe to do so. This is a security measure to protect both the trader and us as a broker. We will inform you via email if your withdrawal is approved.
Please note that this procedure could delay your withdrawal from 24-48 hours. You should receive the funds in a much less time frame than we provided, that timeframe is given just in case we need to do more thorough checks."
Then after 10 attempts of sending my photo verification with the withdrawal amounts they then prompted me to escalate my withdrawal query which led my account to be reviewed and then suspended.
3 weeks later after they suspended me, I receive an email stating that the funds I had in my wallet was transferred to a trading account.
This is wrong doing on their part and without access to my account there is no knowing what they are doing under my name.
This easily could've been avoided with better communication.

Withdrawal issues
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Frequently Asked Questions
Is HugosWay a regulated broker?
HugosWay is not regulated at this time. There is no designated government or non-government body to supervise the activities of HugosWay or to resolve complaints.
Please read unbiased traders reviews on Forex Peace Army here: https://www.forexpeacearmy.com/forex-reviews/14070/hugosway-forex-brokers#faq-is-hugosway-a-regulated-broker
And recent forums posts here: https://www.forexpeacearmy.com/community/tags/hugosway/ to decide whether HugosWay is a good forex broker for your trading needs.
How long does it take to withdraw money from HugosWay?
- Bitcoin transfers happen within one day and can be tracked at blockchain.info.
- Withdrawals to cards up to the amount deposited by card can take up to a week to be credited by your bank.
- Withdrawals by bank wire are processed within 1 day, but may take up to 6 days to arrive.
How do I deposit money into HugosWay?
Link: https://www.forexpeacearmy.com/forex-reviews/14070/hugosway-forex-brokers#faq-how-do-i-deposit-money-into-hugosway
Where is HugosWay located?
Link: https://www.forexpeacearmy.com/forex-reviews/14070/hugosway-forex-brokers#faq-where-is-hugosway-located
What is HugosWay?
Link: https://www.forexpeacearmy.com/forex-reviews/14070/hugosway-forex-brokers#faq-what-is-hugosway
Is HugosWay legal?
Link: https://www.forexpeacearmy.com/forex-reviews/14070/hugosway-forex-brokers#faq-is-hugosway-legal