HugosWay review: Is it a legit or scam forex broker?

2.934 · 137 REVIEWS

Hugo's Way

Updated: Jun 28, 2022 · HugosWay.com  · Is this your company?

5 star HugosWay review by HeavenLeighRob, USA

I opened an account with Hugosway a little over a year ago and haven't had any issues!
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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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.

HugosWay

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum Deposit: $10
Established: 2018
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
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes
ECN: ✅ Yes

Trading Instruments

Currencies: (55+)
Cryptocurrencies: (35+) Bitcoin, Litecoin, Ethereum
CFD: (170+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities

Trading Conditions

EAs/Robots: ✅ Yes
News Spike Trading: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

Deposit Methods: Bank Wire (Bank Transfer), VISA, MasterCard, Bitcoin, VLoad
Withdrawal Methods: Bank Wire (Bank Transfer), Bitcoin, VLoad

Live discussion

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2.934 · 137 REVIEWS
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Traders Reviews

England, United Kingdom,
Jul 29, 2021,
Registered user

Ticks the boxes

Service use: Live

Length of use: over 1 Year

Have been using Hugosway for just over a year now, changing to them from previous broker as they offered 24/7 crypto trading. My other offered 24/5. Leverage is also 1:100 on the crypto which was needed. Mainly trade Bitcoin but they have plenty of others if this is your thing.

There support is also available 24/7, so if there’s a particular market you prefer to trade and it’s first thing in the morning, the support is there if needed.

Would suggest trying these out as been going a while and spreads, leverage and amount of pairs to trade tick the boxes I need.
 
Chelmsford, United Kingdom,
Jul 25, 2021,
Registered user

Easy and hassle free to use for first time trader

Service use: Live

Length of use: 6-12 Months

Starting out in Forex was pretty daunting, and the vast number of brokers (when i worked out what was what) is a mindfield. And then there was all the conflicting advice about what broker you should go with and what one you should avoid!
Headache much!
After deciding that I wanted a broker with higher leverage and one that enabled me to trade both Crypto and Forex I chose Hugosway. I was able to sign up and use a demo account first and then moved onto a live account when I was ready, and it was very quick and smooth.
I will say the live chat has been incredibly helpful. As a new trader, I had what I now regard as very silly questions but at the time having someone there to answer them and keep me moving forward was a lifeline, or at least thats how it felt :)
So for me, it is so far so good trading on Hugosway.
 
Dublin, Ireland,
Jul 15, 2021,
Registered user

Solid broker for beginners

Service use: Live

Just thought id hop on and give a heads up to anyone looking for a broker for beginners. im helping my brother with his trading and he had a Hugosway account. I hadn't used them before and they are actually solid. The customer were helpful funding his account and we deposited 40US so the starting point is low I think you can deposit even lower. Anyway thought this might help some beginners with a decent platform starting off.
 
Liverpool, United Kingdom,
Jul 6, 2021,
Registered user

Been using this broker since I started trading

Service use: Live

Length of use: over 1 Year

I've been trading around 1.5 years now and this is the only broker that I use, they offer everything from Forex, Stocks, 24/7 Crypto so I can't complain with the amount of markets that they offer.

If I ever have a problem (hardly ever), I contact their live chat and my question is answered promptly.

Payouts are fast (usually same day), even on a weekend - however this can depend on the speed of Blockchain on the day.

Also an added bonus is that they have up to 1:500 leverage on Forex pairs.
 
TN, USA,
May 28, 2021,
Registered user

Hugosway!!! STAY AWAY!!!

Service use: Live

Length of use: 0-3 Months

Guys stay away from this company...Once you make some money they will lock you account...ask you to all kind of crazy stuff to get back in!! deal with this poop forex company at your own risk!!!
  1 trader has found this review helpful
Reply by hugosway submitted Jun 3, 2021:
Hi there,

Please be aware that at Hugo’s Way we provide traders with same-day access to their funds as all withdrawal requests are seen to within 24 hours. Unless there is anything unusual or suspicious with your trading activity, we will not require you to answer any questions related to withdrawing. Should this not be the case, we have a system in place for AML procedures in order to protect your account.

Please contact our 24/7 support team should you require more information.

Regards,
Hugo’s Way

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