HugosWay Review

2.937 · 117 REVIEWS

Hugo's Way

Updated: Oct 29, 2020 · HugosWay.com  · Is this your company?

Hugo'sWay is a forex broker. Hugo's Way offers the MetaTrader 4 forex trading top platform. HugosWay.com offers over 50 forex currency pairs, cfds, indices, stocks, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

HugosWay

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $10
Established: 2017
Address: Global Gateway 8, Rue de la Perle, Providence Mahe, Seychelles
Contact: support@hugosway.com
Regional offices:
Regulators:
Prohibited countries:
Trading platforms: MT4, WebTrader
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (55+)
Cryptocurrencies: (30+) Bitcoin, Litecoin
CFD: (125+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, Bitcoin
Withdrawal Methods: Bank Wire, VISA, MasterCard, Bitcoin

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2.937 · 117 REVIEWS
Forex Peace Army
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Traders Reviews

Aaron,
Ohio, USA,
Oct 27, 2020,
Guest

Terrible broker

Service use: Live

Length of use: 0-3 Months

Funded my account via bitcoin through instacoins. The transaction shows as complete on instacoins side. Meanwhile 10 hours later my funds still aren’t in my Hugosway account. Completely missed the setups I was looking at. Contacted their customer service several times and all they say is “ your transactions being verified in the blockchain”. 100k nodes and your telling me it takes 10 hours for my funds to show in my account? Ridiculous
 
Office, USA,
Oct 26, 2020,
Registered user

Service use: Live

Length of use: over 1 Year

I have been with this broker for 4 yrs and have not had any major issues.The customer service was terrific. They addressed all issues that I had, which were minor. Deposits and withdrawals process was fast and easy. I highly recommend this broker to anyone. This broker allows you to trade many different commodities. I don’t know why there are so many negative reviews about this broker. Try it and see for yourself!!!!!!!!!
 
London, United Kingdom,
Oct 21, 2020,
Registered user

Top pick for Crypto Trading

Service use: Live

Length of use: 3-6 Months

Came across Hugosway when looking to expand my trading over the weekends for cryptocurrencies.

Was a very quick and easy process to register and open an account, customer support were very responsive when needed. I am a big fan of live chat help these days, e-mail is like sending a letter haha

There is a big range of crypto pairs to trade although I stick to the majors myself so cant comment on the other smaller pairs they provide. Leverage is in line with market expectations and Bitcoin deposits and withdrawals made everything quick and easy.

Overall not experienced any negative sides to Hugosway when it comes to crypto trading, so very happy and they tick all the boxes i was looking for.
 
Essex, United Kingdom,
Oct 19, 2020,
Registered user

Service use: Live

Length of use: over 1 Year

I Thought I would add a quick review after trading crypto over the weekend with Hugosway. I found the system much quicker than I had done previously and was impressed with the amount of pairs that are available to trade. I will use them again this week and will trade Forex as well as crypto.
 
cornwall, United Kingdom,
Oct 13, 2020,
Registered user

good crypto trading platform

Service use: Live

Length of use: 3-6 Months

Joined this broker to do crypto trading on the weekend as they offered good leverage and the most tradable crypto pairs from any broker, this has gone well and enjoyed using this service for this bases but also using it as my main currency trading account now and going well. found that there bitcoin withdrawals are faster then most other brokers so going to stick with them and use them more and more. get laid out easy to use platform!
 
Reply by hugosway submitted Oct 15, 2020:
Hi there, thanks for your positive review! We do offer 24/7 trading on over 35 crypto assets, together with high leverage and 24/7 customer support. Our team does their best to process all withdrawal requests within the same business day, ensuring our clients are given quick access to their funds. Happy trading!
Serbia, North Macedonia,
Oct 12, 2020,
Registered user

Service use: Live

Terrible broker, stay away, manipulated totally and racking people off. When u enter they change the price, when u take profits they change the price. If you look the charts anywhere those prices never reach so low but you have lost the traid.
 
Reply by hugosway submitted Oct 15, 2020:
Hi Zoran,

As an ECN broker, the price quotes displayed on our platform are constantly updated to ensure that we provide the best spreads directly from our liquidity providers. All market orders are executed using straight-through processing, to ensure no interference with client trades.

Since you have not provided your email address or account number, we encourage you to contact our 24/7 Customer Support Team by quoting your MT4 account number, together with the ID of any affected trades and an explanation of your experience in your message. Our agents are available via live chat, email or phone call, for your convenience. We look forward to hearing from you.
Canada, Bahamas,
Sep 25, 2020,
Registered user

Unregulated criminal broker!

Service use: Live

Length of use: 0-3 Months

Please stay away from this broker, and don't ever send them any document! Hugo way is an unregulated criminal broker doing identity theft! They will steal your ID and get rid of you right away once you give your papers to them! The KYC is a total scam and should not be used by anyone who wants to risk their money on this unregulated scam broker! I wanted to do my KYC to connect other payment methods. Still, once they received my documents plus a selfie with the date of today with on it the name of Jamie, the useless shift leader, he blocked my account right after receiving my documents! This is how this kind of broker treats a brand-new customer. They have been ignoring my emails and live chat and even blocking my IP address after this nonsense!
But the thing is they are to dumb to realize that anyone can have multiple accounts under different emails using a VPN. So, you can see the untrained HUGO staff don't have any common sense or competence to handle customers! I requested a call from the supervisor for an explanation, but I bet they are not going to call!

I would like to hear from the supervisor here in the forex peace army. They already have bad reviews over here, and believe me, this case will be the nail in the coffin if they want to play dirty! I have a terrible temper, and I know how to deal with the reputation of scam brokers like HUGO!. Thieves and brainless incompetents should not have the right to handle this kind of business in the forex industry! Let's see what the supervisor of Hugo FX will tell me about this bloody nonsense here in Forex Peace army or over the phone if they ever decide to call me!! I have everything recorded emails and live chat, and ready to expose everything if they don't fix this s***, or I don't hear from the supervisor!

More. Community discussion of this issue >>

 
Reply by hugosway submitted Sep 28, 2020:
Hi there,

We have managed to locate your chat history and found that our Customer Support Agents were helpful and professional when responding to your request.

KYC documents are only a requirement for clients who want to use deposit and withdrawal methods other than Bitcoin. If you choose to submit KYC documents, the name registered on your account must match the name on the submitted documents. Otherwise, clients will need to update their account details. It is standard procedure to ask clients a number of security questions when they request to change their account details. For an added layer of security, we also ask clients to send a selfie so that we can make sure that the proof of Identity which they have submitted is correct.

From the transcripts of your chat history, we noted that you asked the Customer Support Agent to delete your account. This action was completed before your KYC documents were processed, as KYC verification may take up to 24 hours.

If you require further clarification, you may contact the Customer Support Team 24/7, either through Live chat, email or by requesting a phone call.

Regards,
The Hugo’sWay Team
ghargur, Malta,
Aug 25, 2020,
Registered user

excllent customer service cooperation

Service use: Live

Length of use: 6-12 Months

this broker is very fast at communication when it comes to any even minor queries and problems I had. I take advantage of the leverage options with the small trade size allowed also.
good broker in general, can't complain.
 
Reply by hugosway submitted Sep 17, 2020:
Hi Adam and thank you for sharing your positive review! Our professional support team is available 24/7 via Live chat, email and call back request to assist traders with any queries.
Kent, United Kingdom,
Aug 19, 2020,
Registered user

Solid experience so far

Service use: Live

Length of use: 3-6 Months

Used Hugosway around 6 months now to diversify the money I hold in brokers I can trade crypto and FX with. Think these guys have been around a few years now and they seem to have it nailed down. Shame to see some of the bad reviews but my experience has been good. Quick withdrawals which is so important to me. Why should we have to wait ages for money we make. Normally a few hours using the bitcoin deposits and withdrawals. Can't comment on the alternative methods as I haven't used them. Had an email a few months back about a new server added and upgraded so that should add to the stability of the platform. Works well on MT4 and the webtrader is actually pretty decent.
 
Reply by hugosway submitted Sep 17, 2020:
Thank you for your positive review! Our team processes all withdrawal requests within the same business day to ensure our clients are given quick access to their funds.
Dublin, Ireland,
Aug 15, 2020,
Registered user

Impressed with the service

Service use: Live

Length of use: 6-12 Months

I have started using Hugosway 7 months ago and i have been impressed with the service provided. I mainly use it to scalp indices and i have found the leverage and minimum deposit of 10US very handy as i was trialing now strategies and could test them on a low amount account as im not a fan of demoing at times. I have withdrawn on multiple occasions now from small to relatively large amounts and all have gone through without a hitch. As long as all continues in the same way ill be using them for years to come
 
Reply by hugosway submitted Sep 17, 2020:
Thank you for sharing your positive experience! We do offer both Demo and Live accounts with low minimum deposits and high leverage, and all withdrawals are processed within 24 hours to ensure quick access to your funds.
Essex, United Kingdom,
Aug 9, 2020,
Registered user

Have returned to Hugosway

Service use: Live

Length of use: over 1 Year

I have returned to Hugosway due to them recently upgrading their server and due to the fact I can trade crypto 24/7 with them. I am impressed that withdrawals are made same day.
 
Reply by hugosway submitted Aug 14, 2020:
Hi Steve and thank you for your kind words! At Hugo's Way we pride ourselves in offering traders rapid access to liquid funds coupled with pristine trading conditions. We are very pleased to have you back and making the most of our upgraded systems. Don't hesitate to get in touch with our 24/7 professional support team whenever needed.
In my skin, USA,
Aug 5, 2020,
Registered user

Sketchy

Service use: Live

Length of use: 3-6 Months

Hugo’s way pros: large variety of pairs, indices, crypto’s
Sort of fast withdrawal times

Cons: customer support is horrible. They take forever to respond and do not resolve issues. Their server will say “busy” and result in a closing trade with reduced or no profit. When you contact support they will blame it on YOUR internet connection and not credit your account. Their spreads are larger than other brokers. Their charts are not aligned with trading view.

Something is off about this broker. I’m currently looking for another.
  1 trader has found this review helpful
Reply by hugosway submitted Aug 7, 2020:
Hi there, I was unable to locate you on our system based on the information provided in your review. We do offer a large selection of tradable assets on our platform which is well received by our traders. We fully understand the importance of clients having access to liquid funds, particularly in today's economic climate - which is why we offer same-day withdrawals. With regards to your comment about our customer support services, our professional team is available 24/7 to help with any queries experienced by our clients and is always willing to go above and beyond to help our traders. We provide three modes of contact: Live Chat, email or call back request at a time that suits you best and pride ourselves in offering some of the best support in the industry.

Market Orders are processed instantly through STP execution to eliminate waiting times for orders to be filled with liquidity coming from top tier financial institutions. In terms of downtime, all clients are notified in advance to any instances of planned downtime on the MT4 Server. Regarding wide spreads, this is normal upon market open as there are far fewer traders, which in turn means less liquidity and higher market volatility, widening the spread. It is normal for this to occur on almost all broker platforms due to the same points outlined above. Avoiding holding positions overnight will help reduce the risk of unexpected price movements. That being said, Hugo’s Way is fully committed to helping traders affected by infrastructure failures. If you feel that any positions were negatively affected through no fault of your own, please get in touch and quote your MT4 account number along with the Trade ID of any negatively affected trades. From here, a dedicated trading professional will review your account and look to reimburse you. Each Trade will be independently reviewed and cross-referenced with logged server issues.

Hugo’sWay is a fully transparent online broker that strives to provide clients with an excellent trading environment coupled with a fully trained support team available 24/7. Please get in touch should you need any further clarification and we will be happy to help.
Denver, USA,
Aug 4, 2020,
Registered user

Stay away if you want succes in this business

Service use: Live

Length of use: 0-3 Months

Use regulated services only and leave them hugoway son of feminine hounds out the picture..they will play against you no Matter what strategy you use or have to offer up and trust me I am very patient when it come to trading and waiting ...I repeat stay away and don't listen to the bullpoopy people tell you about hugosway because 9/10 nobody cares about anyone's succes ...
for a good entry with bullishness with a strong conformation in a uptrend and they stop you out and take your money and let the trend continue the direction afterwards like I understand you win some and lose some but to keep losing like that lol you lost a customer and I promise I will never send people that way
have sex with them and make passionate love to their fix spreads
  1 trader has found this review helpful
Florida, USA,
Jul 29, 2020,
Registered user

Great Support Skeptical practices

Service use: Live

Length of use: over 1 Year

Ive ben trading for the past two years now. I have also had only very good customer support and ease of transfers to my wallet from my bank account with this broker. However as of late I've been noticing on the open of the new market day HUGOS way will have ridiculous price gaps to almost 20 pips or more and increased spreads.

These gaps are not shown on any other reliable chart or provider that I use and I am very skeptical of their practices especially for those operating with smaller account sizes.
  2 traders have found this review helpful
Reply by hugosway submitted Aug 4, 2020:
Hi there, I was unable to find you on our system using your review information. At Hugo’s Way, we pride ourselves on offering clients the very best customer support allowing our traders to trade with peace of mind.

When the markets close, an instrument's pricing is still changing as there is still movement in the financial world. Upon reopening of the market, there will naturally be a gap in the prices between the closure and open price.

This can be a small or a significant jump depending on what news/events have happened while the market was closed. This is something beyond our control given that prices come directly from our Liquidity Providers. As such, when another broker/viewing platform does not have the same gap/prices it simply means they are not using the same Liquidity Provider.

Regarding wide spreads, this is normal upon market open as there are far fewer traders, which in turn means less liquidity and higher market volatility, widening the spread. It is normal for this to occur on almost all broker platforms due to the same points outlined above.

We are a fully transparent broker and all traders are free to withdraw at any time. CFD trading with leverage does come attached to risk which is fully outlined in our risk disclosure agreement. With high leverage settings comes greater risk, especially to lesser experienced traders. As such, we allow all traders to open MT4 accounts with a leverage setting of their choice with the lowest being 1:1 and maximum being 1:500 for Forex.

We hope this helps clear things up for you, should you require any further clarification, please get in touch with us and one of our dedicated, professional team will happily go over this with you. Reach out to us via LiveChat, call back request or email support@hugosway.com. We look forward to hearing from you.
Derrick,
America, USA,
Jul 28, 2020,
Guest

Stay away from HUGO....

Service use: Live

Length of use: 0-3 Months

They will take your money, and then come with a stupid reason why. I was in a trade and my position was in profits then all of a sudden the spread increased and I was spotted out. I’ve traded with many companies and thought I would get Hugo a try, but now I wish that I did not open a account with them. I have never had that happen to me before.
  1 trader has found this review helpful
Reply by hugosway submitted Aug 4, 2020:
Hi Derrick. I was unable to locate your Hugo's Way profile based on the information provided in your review. At Hugo's Way, we understand the importance of clients having access to their funds, especially in today's current climate. As such, traders are free to withdraw funds at any time with withdrawals being processed within 24 hours. We are a true ECN/STP broker meaning that orders are filled by a pool of liquidity providers from Tier 1 financial institutions.

At any time a trader feels they have had a trade negatively impacted we encourage them to get in touch with us quoting the MT4 account number and trade ID of any trade negatively affected. From here, one of our dedicated trading professionals can conduct an investigation, create a report and feed their findings back to you with a view to reimburse you if indeed - your position was affected through no fault of your own.

Please contact us via our LiveChat service, arrange a call back request or email support@hugosway.com. We look forward to hearing from you and resolving this matter.
Soap,
USA, USA,
Jul 21, 2020,
Guest

No Issues

Service use: Live

Length of use: 0-3 Months

I see no problems at all with this broker. Being a cautious person I opened my DEMO account for two weeks then funded a live account made trades withdrew funds.. No Issues! Support is very helpful and knowledgeable. From me in the USA, Thank You!!
 
Reply by hugosway submitted Aug 4, 2020:
Thank you for your kind review! Our professional support team is available 24/7 via LiveChat, email and call back request for all of your account needs.
Hugos Review,
Ireland, Ireland,
Jul 17, 2020,
Guest

Decent broker, safe, secure but servers are sketchy

Service use: Live

Length of use: 3-6 Months

they never tell you when they're going to run maintenance scripts on the servers which will severely slow down your MT4 app for roughly 30 minutes. happens maybe once a week or once every 2 weeks.

other than this, i see no problems, great leverage, fast deposits and they have listed the indices which my previous broker did not.
 
Reply by hugosway submitted Jul 20, 2020:
Thank you for providing us with some feedback. Here at Hugo’s Way, we take user experience extremely seriously. We recently underwent a major service upgrade which included adding an additional server, as well as fully optimising our existing one. Our original server could often become overloaded due to dormant MT4 accounts or too many users logged in at once. We addressed and fixed the issue by launching the additional server on June 5th 2020 to help spread the load across two servers.

Hugo’s Way is fully committed to helping traders affected by infrastructure failures. If you feel that any positions were negatively affected through no fault of your own, please get in touch and quote your MT4 account number along with the Trade ID of any negatively affected trades. From here, a dedicated trading professional will review your account and look to reimburse you. Each Trade will be independently reviewed and cross-referenced with logged server issues.

Our professional support team is available 24/7 via LiveChat, email or call back request. We look forward to hearing from you.
U.K., United Kingdom,
Jul 14, 2020,
Registered user

Decent all rounder

Service use: Live

I found them generally good, fast enough resolving issues and withdrawls were processed in a timely manner. I can’t really see me leaving them anytime soon and they are one of my more frequently used brokers
 
Reply by hugosway submitted Jul 20, 2020:
Thank you for such a nice review! Our dedicated support team is available 24/7 via LiveChat, email and call back request should you need any assistance in the future.
Sash,
Florida, USA,
Jul 9, 2020,
Guest

Great

Service use: Live

Length of use: over 1 Year

Surprised by the low reviews here as I’ve never had any problems with them. My withdrawals are processed within hours and I’m overall very pleased with them despite the fact that they’re unregulated.
 
Reply by hugosway submitted Jul 20, 2020:
Thank you for your kind words, Sash. Our professional support team is available 24/7 via LiveChat, email or call back request for all of your account needs.
Bronx, USA,
Jul 9, 2020,
Registered user

WITHDRAWAL ISSUES

Service use: Live

Length of use: over 1 Year

HELLO MY NAME IS TAHSHAWN IVE BEEN WITH HUGOSWAY FOR APPROXIMATELY 2 YEARS IVE NEVER HAD A PROBLEM WITHDRAWING MONEY FROM OUT OF MY 7 FIGURE ACCOUNT UNTIL RECENTLY. IVE BEEN TRYING TO MAKE A 6 FIGURE WITHDRAWAL FOR ALMOST 9 WEEKS AND NOTHING HAS BEEN PROCESSING THROUGH HUGOSWAY TO BLOCKCHAIN ONLY RECENTLY I HAVE BEEN ABLE TO WITHDRAW MAYBE 4 DIGIT FIGURES EVERY COUPLE OF DAYS THAT WOULD TAKE TAKE 2 DAYS FOR IT TO COMPLETE. I AM CONCERNED AS TO WHY IM NOT ABLE TO WITHDRAW 6 FIGURES IN A TIMELY MANNER. I WOULD LIKE SOMEONE FROM HUGOSWAY TO CONTACT ME BECAUSE THIS IS UNACCEPTABLE AND NOT GOOD BUSINESS I USED GOOD FAITH WHEN SELECTING THIS BROKER TO USE AS MY PRIMARY PLATFORM. I HOPE THIS REVIEW WILL BRING THE ATTENTION TO HUGOSWAY SO IT CAN BE RESOLVED IMMEDIATELY. THANK YOU
  2 traders have found this review helpful
Reply by hugosway submitted Jul 20, 2020:
Hi Tahshawn and thank you for providing us with some feedback. I have looked into your account on our system and I am unable to see any withdrawal requests for 6 figures. I do see recent withdrawal requests which have been approved via Bitcoin. I can also see that there were a total of 8 withdrawals which were cancelled upon your request. The largest withdrawal request on our system was a 5 figure withdrawal that was indeed approved back in February of this year which was approved and sent to the BTC wallet address you provided.

Rest assured Hugo’s Way keeps client funds separately from that of the companies and has no reason to withhold any funds. We understand the importance of traders having access to liquid funds and as such traders are free to submit withdrawal requests at any time, with requests being processed within 24 hours. There are currently no pending withdrawals on your account so we are a little unsure of your decision to post this negative review.

Please get in touch with us via LiveChat, email or call back request and a member of our dedicated support team will happily help with any further information. We look forward to hearing from you and continuing business together.
Leicester, United Kingdom,
Jul 9, 2020,
Registered user

Good broker for forex and crypto

Service use: Live

Length of use: over 1 Year

Been using these for forex and crypto for a long time now, good spreads, leverage and very fast withdrawal times. Nothing to complain about really just does what I need it to and does it well
 
Reply by hugosway submitted Jul 20, 2020:
Thank you for your positive review!
Michael,
USA, USA,
Jul 6, 2020,
Guest

Very Scammy Broker - Poor Customer Service(Hugosway or Highway)

Service use: Live

Length of use: 3-6 Months

Scammy broker, they will rob you of your money without any evidence of why your trade errored out. They will blame it on fictional spreads that they make up on the fly 20+, 30+ pip spreads on major and minor pairs that are typically only a couple pips!! They will try to use these fake spread amounts to somehow justify them sucking hundreds out of your account instantaneously!! Stay away from this broker if you care about your money!
  2 traders have found this review helpful
Reply by hugosway submitted Jul 20, 2020:
Hi Michael, I was unable to locate your account based on the information you provided on FPA. We are a genuine broker and offer full transparency to our clients through a 24/7 professional support team. At any time if you feel like a trade was affected through no fault of your own, one of our dedicated trading professionals can investigate this for you. Once an investigation has taken place, they will contact you with a report of exactly what happened and look at reimbursement options - if warranted. Please get in touch with us quoting your MT4 account number and the trade ID of any affected trade. Our support team is available 24/7 via LiveChat, email or call back request.
Ireland, Ireland,
Jul 5, 2020,
Registered user

Good all rounder

Service use: Live

Length of use: 6-12 Months

Got introduced to these guys on another forum .
I'm always looking for brokers that I can trade Crypto on .
They didn't disappoint. Fast withdrawals , good leverage that I cant get with other brokers and running a Crypto EA no issues with that .
The weekends are relatively free for me hence the draw of the weekend Crypto trading. Good selection of tradable assets , a good all rounder .
 
Reply by hugosway submitted Jul 20, 2020:
Thank you for taking the time to post such a nice review. Not only is Crypto trading available 24/7 on our platform but so is our professional customer support team. Get in touch at any time via LiveChat, email or call back request for all of your account needs.
Newport, United Kingdom,
Jun 30, 2020,
Registered user

Good all round broker with fast customer service

Service use: Live

Length of use: 3-6 Months

Good spreads and fast withdrawals. I like that the BTC market stays open over weekend so I can hold long term positions.
 
Reply by hugosway submitted Jul 20, 2020:
Thank you, for such a positive review!
London, United Kingdom,
Jun 30, 2020,
Registered user

Never had a problem

Service use: Live

Length of use: 6-12 Months

Surprised to read the bad reviews as I have never had a problem.
Service always been decent and platform works.
I don't need much out of a broker, Bitcoin weekend trading is my main thing and they allow this.
 
Reply by hugosway submitted Jul 20, 2020:
Hi Jay, and thank you for your kind words!
Oxford, United Kingdom,
Jun 29, 2020,
Registered user

A winner for trading Crypto

Service use: Live

Length of use: over 1 Year

Hugosway has been very reliable in my experience, and provided me with the trading requirements I needed, from high leverage at 500:1 for Forex trading and fast withdrawals.
However, it is the crypto trading service they provide that makes this a 4 star broker for me. Again they provide a high leverage on all the 30+ crypto pairs and the golden ticket of 24/7 trading which I could not access at other brokers.
 
Reply by hugosway submitted Jul 20, 2020:
Hi Rachel, thank you for providing us with some feedback which we actively welcome in order to improve our services moving forward. If at anytime you need any help or assistance, we are here for you via LiveChat, email or call back request, 24 hours a day.
Dc, USA,
Jun 27, 2020,
Registered user

Bad withdrawal experience

Service use: Live

Length of use: 0-3 Months

My trading experience on Hugo’s way was great. No complaints on that end. I signed up and deposit my bitcoin with no issues. Made some winning trades and went to cash out. That is when all the problems began. There was no kyc required to sign up or make a deposit, but at withdrawal I’m told I have to do kyc after allowing me to already trade...... ok fine...... but after doing kyc and sending documents my withdrawals have still been sitting in pending for some days which makes me start to feel Hugosway is a scam. Talked to chat live and they took my information contacted the payment department and told me I should have funds within a few hours several different time on different days.
Im still receiving the pending status on my withdrawal. If my expert changes I will up date this post.
  2 traders have found this review helpful
Reply by hugosway submitted Jul 20, 2020:
Hi Trader, thank you for providing us with some feedback. We were unable to locate you on the system based on your FPA information. Rest assured, we are a legitimate broker and take pride in offering full transparency to our clients through our professional support team available 24/7. When submitting a Bitcoin withdrawal request, it is important that we have your true Bitcoin wallet address in order for us to send funds to you. When a member of the payments team proceeds with your withdrawal request, they will conduct some due diligence checks to ensure funds are being sent to the intended recipient. When there are irregularities, we will reach out to you via email or telephone. At Hugo’s Way, we take user experience extremely seriously and as such would like to learn more about exactly what happened in your case so we can improve moving forward. We understand the importance of clients having access to their funds and as such, we look to release withdrawals on the same day of submission. Please get in touch with us via LiveChat, email or callback request so we can look at why your withdrawal is pending and release your payment.
Brooklyn, nyc, USA,
Jun 25, 2020,
Registered user

the worst brokers scam

Service use: Live

Length of use: 0-3 Months

they are the worse do not go with this broken I started out with a $100 deposit I made a $50 profit and 10 minutes I lost it all I don't know much about hot a do business but they just basically gonna leave your broke in blind.
  1 trader has found this review helpful
Reply by hugosway submitted Jul 20, 2020:
Hi, we were unable to locate you in our system based on your FPA account information. We are a genuine broker and offer full transparency to all clients through our 24/7 support services. Trading CFD’s with leverage carries a degree of risk and as such we encourage all traders to read our ‘Risk Disclosure’ page to gain a more comprehensive understanding of leveraged trading. We offer a free to use 'demo' account for beginners to develop a trading strategy before depositing real money. Please don’t hesitate to get in touch with our support team should you need any further clarification.
South coast, United Kingdom,
Jun 23, 2020,
Registered user

Trading crypto no worries

Service use: Live

Length of use: 3-6 Months

Been trading crypto mainly BTC,ETH & NEO but had some success with LTC and IOTA. Would be cool to trade ADA as it’s flying and XRP in the future once it finally moves lol. Been making deposits and a couple of test withdrawals with BTC payments no worries so far.
 
Reply by hugosway submitted Jul 20, 2020:
Hi Alex and thank you for providing us with some positive feedback! We have 31 Cryptocurrency pairs available, all with a max leverage of 1:100. We do offer XRP as well as other altcoins including SAN, OMG, LTC and much more. Should you need any assistance in the future do not hesitate to contact us at hugosway@support.com. Alternatively, you can initiate a LiveChat through our website or submit a call back request at a time that suits you best.
Uk, United Kingdom,
Jun 21, 2020,
Registered user

Strong platform offering exciting options

Service use: Live

Length of use: 6-12 Months

Trading at Hugosway currently and pleasantly surprised with the plethora of pairs and options to trade daily. The broker offers crypto trading 247 alongside regular forex and indicies seen at most brokers in 2020.

I have tested the same day withdrawal policy on both weekdays and weekends and am pleased with the speed of withdrawal through BTC which requires a few confirmations on the blockchain which you can monitor.
Overall the experience has been positive and i can see the broker moving forward with faster servers and mors stock trading options
 
Reply by hugosway submitted Jul 20, 2020:
Hi Scott, thank you for providing us with such a nice review. Our professional customer support team is available for all of your account needs 24/7 via LiveChat, email and call back request.
Texas, USA,
Jun 17, 2020,
Registered user

Not helpful I was lied to twice

Service use: Live

Length of use: 0-3 Months

Loaded money and never saw it again.still waiting on my money to load.not sure if this is real or if they just taking time to load my money I'll keep everyone updated
  1 trader has found this review helpful
Reply by hugosway submitted Jun 19, 2020:
Hi Larry, i'm so sorry you felt the need to instantly write a negative review whilst your funds are still being loaded onto your account. You have not provided any account information via FPA so i cannot review your account to see what happened. I can only presume you have loaded your account with BTC and we are still waiting for 6 network confirmations for it to be credited to your account.
timothy,
london, United Kingdom,
Jun 16, 2020,
Guest

great easy broker yo use

Service use: Live

Length of use: over 1 Year

been using this broker for a while now with some EA's and have to say the customer service is top notch. and the withdrawls are mostly same day.
 
Reply by hugosway submitted Jun 19, 2020:
Thank you
Kent, United Kingdom,
Jun 16, 2020,
Registered user

Does what I expect a broker to do

Service use: Live

Length of use: over 1 Year

With so many brokers on the market it is hard to really distinguish between bad, ok, good and great for me as they should all just serve a purpose but maybe I have my expectations set too high!

After looking around for brokers I came across Hugosway and read some reviews which were generally very good. My other broker IC Markets, while decent lacks the crypto assets that I was keen to look into. I had already aware of the lack of regulation and this was not a concern of mine as I never keep more in a broker than I can afford to lose anyway and I favoured the higher leverage and lower fees offered.

I opened a demo and account and the experience is good. The webtrader is a nice addition to use if you want access to the account without downloading MT4. Spreads were generally ok, particularly on the cryptos. The chat facility was good and the staff very friendly but in 2020 isn't that something that should be the norm?

I went on to a live account and found the bitcoin deposits ok. Takes a little longer to hit the account than card but the trade off is that withdrawals are much quicker. In my experience they take around 2 hrs, give or take. In my time of using them live I can't say I have ever noticed any voiding of trades or random movements not accounted for on Trading View or anything so it is a stable platform to trade on. The number of assets, indices, cryptos, etc to trade is also quite impressive.

Overall a decent experience, perhaps tempered by my expectations of what a broker should offer. This should be normal so I have graded based on that sentiment. Sadly there are certainly worse brokers out there. It is a shame that finding a decent one is the first battle you face without the challenge of learning to trade itself!
  1 trader has found this review helpful
Reply by hugosway submitted Jun 19, 2020:
Thank you very much for your kind review
Wales, United Kingdom,
Jun 14, 2020,
Registered user

Good broker had no issues.

Been using these for sometime now, was first interested because of the ability to deposit and withdraw with bitcoin. I found the spreads on forex pairs to be very good and the amount of crypto’s to trade there are more than most brokers have. Withdrawals have been quick and when I’ve used the customer support they’ve been very responsive.
 
Reply by hugosway submitted Jun 16, 2020:
Thank you for providing a review of our service
Lagos, Nigeria,
Jun 12, 2020,
Registered user

Withdrawal issue

Service use: Live

Length of use: 0-3 Months

I've been having a pending withdrawal issue for about a week now contacted the support with no response till now
  1 trader has found this review helpful
Reply by hugosway submitted Jun 16, 2020:
Hi, i have tried to locate your account under your profile name of Ibraheem Rahman and i'm afraid that we do not have any clients with that name on our system. Please could you reach out to support again or edit this review with some account information so we can locate your account and respond to the issues that you are having?
Some where, USA,
Jun 12, 2020,
Registered user

SCAMMERS HUGOS WAY SCAMMERS! Run!

Service use: Live

Length of use: 3-6 Months

They manipulate the market and trade against you run! I have proof from FTMO that I’m a damn good trader but for some reason I can’t win a trade to save my life at Hugo’s way!? Stay away from B book brokers! Take the bad reviews to heart and ignore the lure of high leverage because you will never be profitable with Hugosway unless your a YouTuber or a representative for Hugos way.
  1 trader has found this review helpful
Reply by hugosway submitted Jun 16, 2020:
Hi, i'm so sorry that you felt the need to provide us with a bad review based on your experience trading with us. Unfortunately you did not leave any account information via FPA when placing the review so we cannot locate your account and dig deeper into the problems that you may be facing. Please reach out to support again providing your account information or edit this review and we will be more than happy to review your account and publicly respond.
Essex, United Kingdom,
Jun 11, 2020,
Registered user

Good broker forex and crypto

I have been using Hugosway since March 2019 and would recommend them as a good all round broker. I use them for forex and 24/7 crypto. I have found the leverage good for both as well as the amount of pairs available to trade. Also impressive is the fact that all my withdrawals so far have been made same day.
 
Reply by hugosway submitted Jun 16, 2020:
Thank you for taking the time to review us
fanling, Hong Kong,
Jun 9, 2020,
Registered user

Made good money on this platform thanks to the crypto trading

Service use: Live

Length of use: over 1 Year

I joined Hugosway over a year ago now due to them offering 24/7 crypto trading. Its something i wanted to explore more as the forex markets are closed over weekends.
The leverage worked well for me mostly trading Bitcoin as i find a broker mt4 platform much easier to navigate than a crypto exchange. I havent had any issues with deposits or withdrawals (and ive done quite a few withdrawals). Long live bitcoin as ill be here like always trading it up and down. I would recommend this platform for the ease of use and good trading conditions
 
Reply by hugosway submitted Jun 16, 2020:
Thank you for taking the time to post a review
England, United Kingdom,
Jun 8, 2020,
Registered user

Great broker for 18 months

Service use: Live

Length of use: over 1 Year

I've been using hugosway for over 18 months now and I've been very happy. I can't think of any reason not to use them. Leverage is ideal for me and spreads are good enough. Withdrawals have been timely. I always deposit with bitcoin which is processed pretty quick. All the currency pairs I need. Don't do loads of crypto but there's plenty on there. Gets my vote 
 
Reply by hugosway submitted Jun 9, 2020:
Thank you for your kind words
Varna, Bulgaria,
Jun 4, 2020,
Registered user

Good experience

Length of use: over 1 Year

I have only good experience with them. One of my favorite brokers. The big pluses for me are fast withdraws and 24/7 crypto trading.
 
Reply by hugosway submitted Jun 9, 2020:
Thank you, we try our best to make withdrawing as smooth as possible
Illinois, USA,
Jun 3, 2020,
Registered user

Stole my money

Service use: Live

Length of use: 0-3 Months

On Wednesday morning (June 3rd, 2020) I was up early in the morning and my last trade had closed out at around 5am. I checked over everything one last time at about 7:30am. I woke up from a nap at 8:30am and there was a Gold trade that had been entered with a 2.0 lot. Two trades to be exact. Neither of them were executed by me. And the trades lost $2344 of my $2740.94 balance. A 2.0 sized lot is totally inconsistent of my risk history especially being a Gold trade. I have no idea why this was able to happen without my authorization but these trades were not my doing. This broker ran with my money and basically told me they won't do anything when i reached out for support.
  2 traders have found this review helpful
Reply by hugosway submitted Jun 9, 2020:
Hi KDORSEY13, thank you for providing us with your account information via FPA for us to properly reply to your complaint. I have managed to locate your account and analysed the two gold trades you refer to in your review. I can see that both trades were placed via the mobile app (which you normally use to place trades), however I do also see that it was made from an IP address that you do not normally use. This leads me to believe that you have shared your MT4 account credentials with a third party.

We have also analysed the trades that were placed which you can see in the following screenshot: http://prntscr.com/swsx1a . The red arrow shows the time and price your trades were entered (7 seconds apart). It appears that the two BUY trades were entered in an upward trend with the hopes that the trend would continue. Unfortunately a few minutes after the trades were opened the trend changed, which as a result of no stoploss in place, the account got margin called.

We cannot stress enough for traders to never share their account information with third parties. We can assure you that HW did not and will never open any positions for clients and categorically did not steal your money as your review claims.
Liverpool, United Kingdom,
Jun 3, 2020,
Registered user

Decent broker.

Length of use: over 1 Year

Been using this broker for the past couple of years now and I've never had any problems. Withdrawals are always fast and appear in my Coinbase account within 2 hours, even on weekends.

I like the fact that you can deposit and withdraw with Bitcoin, makes the process a lot faster. There's a lot of brokers out there where you have to wait 3-5 days for your money! Scandalous.

It's also a big plus that you can trade Crypto on a weekend, this is especially good for holding trades, as most brokers out there shut Crypto markets on a Friday at close, which means you can get hit hard by gaps.

Would recommend this broker to anybody that is either looking to switch, or who is new to trading.
 
Reply by hugosway submitted Jun 9, 2020:
Thank you for your kind words and recommending us to other traders
Anoymous,
Michigan, USA,
Jun 3, 2020,
Guest

Hugosway EXPOSED stole $90,000 from me

Service use: Live

Length of use: 3-6 Months

I have been full time trading for a long time now, gaining knowledge each and everyday. I found hugosway of course by all these youtube forex traders recommendations. I was skeptical at first with it because it was not regulated, but the high leverage and being able to deposit/withdrawal bitcoin got my attention and I signed up. For the past few months I did not have a problem with it at all. I was using the MT4 platform with no problems, was able to deposit money quickly, and most importantly had no problem withdrawing my profits. Long story short on June 1st 2020 I deposited a large sum of money and I shorted the dollar index future and made $100,871 profit to be exact. I left $10,000 in the MT4 and withdrew the rest which was around $90,000. Having 2 BTC wallets I split the $90,000 by half so $45,000 would each go to my 2 BTC addresses. I wake up to a email from them saying that my withdrawals was rejected due to “indirect price values given from pricing error on HUG-GEN-USD-PRO” which I don’t know what that hell thats means nor does it make sense. I log in my account and see my $90,000 vanished no where to be found the only thing they left was the money I deposited (thankfully). I contacted the customer support but they kept covering their asses saying the same thing from the email. It was a real bummer and most importantly I have proof of everything. PLEASE TRUST ME DON’T KNOW USE THIS BROKER YOU WILL LIKE IT AT FIRST BUT THEN THEY WILL COME AND BITE YOU IN THE BUTT, THEY DON’T CARE. Not only was I fooled by them but I was also fooled by these youtube so called “rich forex traders” that recommend you to use hugosway. IT IS A SCAM.
  2 traders have found this review helpful
Reply by hugosway submitted Jun 9, 2020:
Hi, we are unsure as to why you felt the need to write a negative review about the pricing error that was clearly explained to you via support.

Please review the following screenshot that clearly highlights the pricing error
http://prntscr.com/swtjzo

We responded to you with the following via support:
We are aware of an issue with the Dollar Index that mistakenly showed the price as around 100x that of the actual market price. This caused large profit and large negative on accounts that were not legitimate. We have ensured all those with negative accounts were set back to their previous balance and those with illegitimate profits were removed back to the actual account balance.
Michigan, USA,
May 29, 2020,
Registered user

B Booking Brokers

Service use: Live

They B book your trade hardcore if you can't make profit consistently. It means they will trade against you and don't send your order to liquidity provider. so, basically they make money when you lose. if you make big money when they are not watching, they not gonna pay you guys. Be careful.
  2 traders have found this review helpful
Reply by hugosway submitted Jun 9, 2020:
Hi Daduush and thank you for providing us with this feedback. Please be advised that we are in no way a market maker. Here at Hugo’s Way, we take great pride in providing our clients with some of the best trading conditions on the market. We are a true ECN STP broker, meaning that when a trader executes a trade, there will not be any manipulation from any dealing desk as well as ruling out any possible re-quotes. Using this method removes any potential conflict of interest.

Each and every trade is processed via the Hugo’s Way aggregator, which guarantees the very best rates on your trades, as these are pulled from a pool of top-tier liquidity financial institutions.

Here at Hugo’s Way, client funds are segregated, kept completely separate from the companies. All clients are free to withdraw funds at any time with Bitcoin being the quickest method available. Submit a request and receive funds within 24 hours of submission.

We are saddened to hear of your bad experience and would love to learn more so we can investigate further for you. As such, we would like to invite you to get in touch with our team of professional support staff. Once you provide us with your MT4 account number and the ID of any affected trades, we will happily look into this matter for you.

Contact us 24/7 via LiveChat, email or request a call back at a time that suits you best.
London, United Kingdom,
May 27, 2020,
Registered user

Had a really positive experience

Service use: Live

Length of use: over 1 Year

I have been using Hugosway for just over a year now, I do most of my online trading with Bitcoin so was good that they use this for both deposits and withdrawals which are pretty quick. plenty of cryptos to trade over the weekends is also good, only had to contact support once, was decent support, took about 24 hours to sort my issue. Really do not have any complaints about them so will continue to use for now.
 
Reply by hugosway submitted Jun 9, 2020:
Thank you for your positive review of our service
uk, United Kingdom,
May 26, 2020,
Registered user

Good Broker

Service use: Live

Length of use: over 1 Year

This broker has loads of trading instruments on offer including over 30 cryptocurrencies. Spreads are good and the maximum leverage is 1:500. Customer Support is very responsive and helpful. There is a varied choice of deposit options and the minimum deposit is $10. Withdrawals are processed on the same day in most cases. Overall, a pretty good broker.
 
Reply by hugosway submitted Jun 9, 2020:
Thank you for your kind review
Charlotte, USA,
May 26, 2020,
Registered user

Always freezes Lovks you out account saysaccount disabled” / Live Backup

Service use: Live

Length of use: 3-6 Months

Again for the 100th time tonight I was up on the US30 drop it formed a triple bottom n was heading back up I go to close trade and take profit boom it won’t allow me US30 value numbers all show 0.00 just keeps loading with me blocked out I’m still currently blocked out in a OPEN trade RIGHT NOW !!!!!! It has turned around and come back up 50 pips and they are NOT allowing me to log back in mt4 is allowing me to trade on demo’s n log in to my other account so NOW I KNOW HUGOSWAY is doing some sneaky stuff and I screen recorded the whole event again. Once I’m able to log back in I will be withdrawing all of my remaining money I’m done with those crooks.
  3 traders have found this review helpful
Reply by hugosway submitted Jun 9, 2020:
Thank you for providing us with some feedback. Here at Hugo’s Way we take user experience extremely seriously. We have to hold our hands up and say that we are extremely sorry that you experienced these freezes which really are unacceptable.

This was due to our trading server being overloaded. Please could you refer to the following announcement where we addressed and fixed this issue on June 5th 2020 by launching an additional trading server to spread the load and optimised the existing trading server.

https://hugosway.com/ServiceUpgrade/

Please may i also highlight this section of the announcement:

What can I do if my trading was affected by downtime?
Hugo’s Way is fully committed to helping traders affected by infrastructure failures. If you feel that any positions were negatively affected through no fault of your own, please get in touch and quote your MT4 account number along with the Trade ID of any negatively affected trades. From here, a dedicated trading professional will review your account and look to reimburse you. Each Trade will be independently reviewed and cross-referenced with logged server issues.
Sven,
NC, USA,
May 11, 2020,
Guest

Avoid at all costs

Service use: Live

Length of use: 0-3 Months

They were recommended by a friend and it makes me question his judgment. Their lack of regulation makes it likely I will never see my money again. There was amazing customer service, email and chat, when I set up the account and funded it. Now that I'm trying to get funds out, I can't get a response.

All along there were red flags such as their lack of regulation, no phone, and their shifting funding methods. I thought their dropping of the bank wire option was to avoid the US regulatory regime but now I think it's just one more indication to run from these guys. Currently you can fund with Bitcoin, credit/debit via Instacoins, or VLoad.

When I first tried to withdraw funds Friday morning, it only gave me the option of a Bitcoin withdrawal. They rejected that and said I had to do a VLoad withdrawal as that was how I funded the account. So I submitted that. The website says withdrawals can take several hours. It's been over 96 of them so far (Monday evening). The only contact I have received was a Sunday night email questioning why I wanted to withdraw funds! Until I submitted a response, my withdrawal would remain pending as it has even after my response.

I have sent several emails and attempted to use their vaunted 24/7 chat service. The chat just runs through its scripted routine and you cannot talk with a customer service rep if they still have any.

I'm not sure if it's zoo monkeys or carnival barkers running this show but save your money and get a different broker.
  1 trader has found this review helpful
Reply by hugosway submitted Jun 9, 2020:
Hi Sven, thank you for providing us with feedback. Unfortunately you did not leave any account details so we are unable to comment on your particular case. Please could you reach out to support again so we can resolve your issue however I am sure that you received your withdrawal. Please note that although support is 24/7, weekend support is limited which could be the reason why you experienced a delay in receiving your withdrawal.
Blaine, USA,
Apr 17, 2020,
Registered user

Service use: Live

Length of use: 6-12 Months

I used them for almost a year, Save yourself the trouble and don’t take their bad reviews for granted you will regret going with them. They do not care for your trades nor do they care about their traders, they are here to make money off of you and that is all. Make sure anyone you know that trades or need a broker to stay away from Hugosway they are also not regulated currently, I will do all I can to keep anyone I can from them and save them the headaches. If you want a good broker go for another company. I myself will be switching over to a different broker after the encounter I’ve had with Hugosway they also told me they will block my account if I keep trying to reach them and figure out this issue.
  1 trader has found this review helpful
seattle, USA,
Apr 14, 2020,
Registered user

I have a terrible experience

Service use: Live

Length of use: 0-3 Months

To withdraw Money they make too complicated, to deposit money they made too
complicated, plus another bad experience, One time I was trading oil, I was in a buy position, while some other brokers had the same buy at $20.00 and when i when to look at hugusway to place the same trade, they were trading at $26.00, OMG!!! that was a huge difference, that is stealing. Since then, i decided to walk away from them, Please please walk away from HugosWay, you will thank me later.
  1 trader has found this review helpful

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.
Link: https://www.forexpeacearmy.com/forex-reviews/14070/hugosway-forex-brokers#faq-how-long-does-it-take-to-withdraw-money-from-hugosway

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

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