Broker Details
Minimum Trade Size: | 0.01 |
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Maximum Leverage: | 500:1 |
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Minimum Deposit: | $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 |
Customer Service: | support@hugosway.com |
Regional offices: | |
Regulations: | |
Prohibited countries: |
Trading platforms: | MT4, WebTrader, Desktop Terminal |
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WebTrader: | ✅ Yes |
Mobile Trading: | ✅ Yes |
ECN: | ✅ Yes |
Trading Instruments |
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Currencies: | (55+) |
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: | ✅ Yes |
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News Spike Trading: | ✅ Yes |
Scalping: | ✅ Yes |
Managed Accounts & Social Trading |
Deposit Methods: | Bank Wire (Bank Transfer), VISA, MasterCard, Bitcoin, VLoad |
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Withdrawal Methods: | Bank Wire (Bank Transfer), Bitcoin, VLoad |
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Traders Reviews
Client Since 2018
Service use: Live
Length of use: over 1 Year
btc deposit withdrawal smooth
customer service great always 247
USA trader great service.
thankyou HUGOOO
Scam Central Station
Service use: Live
Length of use: over 1 Year
connection dropped at FOMC
Service use: Live
Length of use: 0-3 Months
This is not the the first time this problem has happened during high impact news.
I believe they are overwhelmed and caused server problems.
Make sure you have a mobile back up of mt4 if using HugosWay Live.
Scammers. Robs you of your funds and claims 'no liability' ALWAYS
Service use: Live
Length of use: over 1 Year
Despite the plethora of 'bad reviews' and what appears to be 'fake reviews' found online on hugosway, I wanted to believe they were legitimate because of the variety of assets to trade on their platform and especially due to being able to fund and withdraw via bitcoin. However, having experienced 'not being able to close trades' TWICE within a year, for the same very 'suspicious' reasons stated as 'liquidity provider' issues.... I now report this online. So, what happened this time is;
*I couldn't close a trade in profit, whilst getting the error 'off quote' being displayed.
*I contacted them via their ONLY AVAILABLE MEANS of contact which is their 'live chat' on their website. Upon explaining the situation, and asking many many questions demanding some sort of actual feasible answer, after the very generic 'the investigative team has been notified and they will look into it and respond by email...' answer, after more questions, finally they responded 'the systems are down and the teams are aware of it..... our liquidity provider is also aware of it.....' And 30 minutes or more later, no response by email, no fix to the problem, nothing...
*I specifically asked them to answer "what happens to my funds while i wait for your team to answer via email? what is the trade goes against me? what if my account gets liquidate?....." To which, NO ANSWER AT ALL. Only a constant repeat of 'our team is looking into it right now and will follow up via email....' again and again and again.
*While i still wait with no follow up from this 'investigative team' to answer via 'email,' my account is about to get liquidated as markets move, and now the trade has gone against me
***I have ALL OF THIS DOCUMENTED via screen capture both pictures and video recording the live chat conversation via their website, and recording my mobile phone screen proving hugosway not letting me close my trade in profit on MT4
****FYI, this is NOT THE FIRST TIME SOMETHING LIKE THIS HAS HAPPENED. It happened either earlier this year (2021) or late last year (2020) as well. But last time something like this happened, they actually DID follow up relatively quick via email, rectified the situation, and made right with my funds lost as a result of the incident. HOWEVER, this time round, it is a much larger amount, a much bigger of a problem and situation, and apparently is happening to EVERYONE USING HUGOSWAY AT THIS EXACT CURRENT TIME SIMULTANEOUSLY.
Also, maybe i'm mistaken, but if it's really a 'liquidity provider' system down issue, it shouldn't take more than a few minutes if that at all for them to contact them to alert of a system down issue and to rectify it immediately. And as it's clear as day, it's all a lie, they are manipulating peoples' trades, i.e. highway robbery of peoples' live funds.
It seems i cannot upload screenshots and videos here, which i wanted to share with the world, to prove how blatantly hugosway is a illegitimate broker, displaying extremely suspicious behavior, all pointing to blatant 'robbery' of peoples' money.
>>> UPDATE: a few hours later..... Hugosway emails me;
They email after all of this, more than 4-5 hours later, NO APOLOGY, NO SOLUTION, NO ACCOUNTABILITY, AND DEFERRING THE BLAME ONTO THEIR 'LIQUIDITY PROVIDER,' CLAIMING NO LIABILITY FOR ANYTHING AT ALL. In addition, by this time, I went to bed only slept for 3 hours due to anxiety from this matter, the trade had gone way far against me and my trade was auto-closed and account liquidated. To which, again, hugosway claims 'NO LIABILITY. IT WAS THEIR LIQUIDITY PROVIDER, THUS, THEY ARE NOT RESPONSIBLE.' Serious!!!!?????
To prove, this is their actual email text copied and pasted here = "Dear Jung,
Please note that you can close your trade now. There was a disconnection on the side of our liquidity provider and some crypto pairs were not available during that time.
"
>>> FACT = HUGOSWAY IS A SCAM 100%, HUGOSWAY LITERALLY CAN ROB YOU OF YOUR FUNDS 100% AS PROVEN 100% FROM PERSONAL EXPERIENCE OVER THE PAST 12 HOURS,T HUGOSWAY WILL REFUSE TO TAKE RESPONSIBILITY FOR SYSTEM ERRORS BY BLAMING EVERYTHING ON THEIR 'LIQUIDITY PROVIDER' (THEY'VE DONE THIS LITERALLY EVERYTIME ANYTHING WENT WRONG WITH THEIR PLATFORM, ALWAYS THE SAME ANSWER OF 'THE LIQUIDITY PROVIDER IS DOWN' FOR ANY AND ALL PROBLEMS, MEANWHILE THEY ARE DOING WHAT > TAKING YOUR MONEY!!!!!! AGAIN, I SAY ALL THIS FROM PERSONAL EXPERIENCE USING HUGOSWAY FOR OVER A YEAR (SINCE JULY OR AUGUST 2020). SO AGAIN, TO BE CLEAR > "HUGOSWAY IS 100% A SCAMMING BROKER, THEY WILL ROB YOU OF YOUR MONEY."
Hugosway trader
Service use: Live
Length of use: over 1 Year
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.
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?
Withdrawal time from HugosWay depends on the withdrawal method.
- 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?
HugosWay accepts deposit by Bitcoin and Bank Wire as well as by Visa and Mastercard credit and debit cards.
Link: https://www.forexpeacearmy.com/forex-reviews/14070/hugosway-forex-brokers#faq-how-do-i-deposit-money-into-hugosway
Where is HugosWay located?
The postal address for HugosWay is at Global Gateway 8, Rue de la Perle, Providence Mahe, Seychelles.
Link: https://www.forexpeacearmy.com/forex-reviews/14070/hugosway-forex-brokers#faq-where-is-hugosway-located
What is HugosWay?
HugosWay is a forex trading broker. Hugos Way offers not only currency pairs, but also permits clients to trade cryptocurrencies and CFDS on stocks and commodities including precious metals.
Link: https://www.forexpeacearmy.com/forex-reviews/14070/hugosway-forex-brokers#faq-what-is-hugosway
Is HugosWay legal?
Although HugosWay is not regulated, many countries have no laws requiring regulation of forex brokers.
Link: https://www.forexpeacearmy.com/forex-reviews/14070/hugosway-forex-brokers#faq-is-hugosway-legal
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.
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