HugosWay Review

2.948 · 119 REVIEWS

Hugo's Way

Updated: Oct 30, 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: 2018
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
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (55+)
Cryptocurrencies: (35+) Bitcoin, Litecoin, Ethereum
CFD: (170+) 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, VLoad
Withdrawal Methods: Bank Wire, Bitcoin, VLoad

Live discussion

Join live discussion of HugosWay.com on our forum

Go to forums

Video

Your company video here? Contact ad sales

2.948 · 119 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Traders Reviews

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.

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