HugosWay Review

2.844 · 105 REVIEWS

Hugo's Way

Updated: Aug 10, 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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2.844 · 105 REVIEWS
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Traders Reviews

United States, USA,
Mar 26, 2020,
Registered user

Connectivity issue & scams

Service use: Live

Length of use: 0-3 Months

I’ve experienced the same as many people here, technical issues with their server. The problem is when I contacted them and provide evidence screenshot of me wanting to close a trade in profit until it went to loss then connection came back.. so They said that they hadn’t experienced any issues, and refuse to put a fair deal. When I contacted them back again to make sure they are considering my evidence they just ignored my email.

Don’t use!
  3 traders have found this review helpful
Houston, USA,
Mar 26, 2020,
Registered user

Scammers wtf I was in profit closed manually and you closed me as SL?

Service use: Live

Length of use: 3-6 Months

Hugo’s suck posterior wtf my trade was in profit in profit ! You took me out as SL and trade was nowhere near SL 
  1 trader has found this review helpful
East Wenatchee, WA, USA,
Mar 23, 2020,
Registered user

Great Experience So Far

Service use: Live

Length of use: 3-6 Months

Hugos Way, so far, has been a great experience for me. Their customer service is top-notch (quick, responsive, helpful). There have been a few glitches here and there but honestly, no big deal. I only give them a 4-star rating simply because I need more time and experience with them. I have had a live account with them now for about 5-6 months. When dealing in ForEx, I fully understand that there will be losses and I believe what they offer is appropriate for newbies like me. I live in the US and for starter small accounts, I believe that HugosWay offers fair and reasonable rates.
 
sandra,
atlanta, USA,
Mar 12, 2020,
Guest

Horrible company

Service use: Live

Length of use: 0-3 Months

Horrible company please do not use them. Female trader here. I literally placed a trade and was watching the charts and then hugoways closed my trade saying it hit stop loss. the trade was no where near my stoploss and was actually just by my entry point hugoway said it was by stop loss and closed it. I spoke to their customer care and they wouldnt help me. This situation happened 3 times. I eventually decided to use a different broker because i don't want no dodgy broker
  2 traders have found this review helpful
Canada, Canada,
Feb 26, 2020,
Registered user

12 months experience with hugosway

Service use: Live

Length of use: over 1 Year

Been with Hugos for around a year, the only positive point I could find is their support. Very reponsive, they have weird opening hours if you trade WTI and some commodities, stupid high spread but that didn’t bother me that much since I do swing trades. You will get a ”market closed” or ”invalid” when theres a lot of volatility in the markets which makes you unable to place trades.

I used BTC to fund my account because it didn’t require any KYC (I like BTC because of its privacy aspect) When I asked a withdrawal because I am leaving their broker they made me take a selfie of me while holding an ID while holding a piece of paper where I had instructions of putting date/withdrawal amount/signature, they tell you it’s for ”safety purpose” Keep in mind that the only info they had was my name and phone number, for me this is total bs (I had an authenticator and been using the same IP/IPS since the opening of this account a year ago)

They don’t know how to do business, if a customer wants to leave just give him his money, because of this I will not recommend this broker to any of my friends+ will tell my close people to move over to vantagefx because they now offer BTC funding/withdrawal, better spread, more instruments..everything better basically except if you’re a 100+ lot trader. I will take 2 hours of my time posting this comment on every possible review website.

If you read this hugosway, consider paying your customer the respect they deserve, reputation is everything in this game. Imagine how much customers will look for another broker after reading this comment, a unhappy customer can have a huge effect these days with all the medias.
  2 traders have found this review helpful
New York City, USA,
Feb 5, 2020,
Registered user

Inaccurate feeds

Service use: Live

Length of use: over 1 Year

Not only do they have Inaccurate fees and slow servers, they also have slow servers that take minutes to respond which is ages in forex world. their withdrawal process takes forever, if they let you. There are much more transparent brokers out there with less of a headache
  3 traders have found this review helpful
deez nuts, USA,
Jan 7, 2020,
Registered user

STAY AWAY

Service use: Live

Length of use: 6-12 Months

They stole 20k from me. Gave me some bulls*** reason of why they did it, now they refuse to give the money back. Avoid.
  3 traders have found this review helpful
California, USA,
Dec 20, 2019,
Registered user

Decent Unregulated Broker

Service use: Live

Length of use: over 1 Year

Pro's
- Accepts US customers
- Responsive
- Good Customer Service
- Lighting fast withdrawals
- Excellent back office portal (quick and secure (2FA) and can make instant transfers, deposits and withdrawals)

Con's
- Unregulated
- Deposits/withdrawals only by bitcoin (the fluctuating bitcoin prices can be a gamble... they should offer stable crypto options like trueusd)
- Trading costs and conditions, although not the worst, are not the best especially for night scalping
-They 'archived' my trading history so that I can no longer go back and see individual trade history beyond Sept 2019
  2 traders have found this review helpful
San Diego California, USA,
Dec 12, 2019,
Registered user

Hugo’s Way is Fraud. Please BEWARE.

Service use: Live

Length of use: 6-12 Months

I have been using this broker for the last 6 months. I have a solid history trading just about everyday excited and looking forward to everyday trades. I have built a good history of trading I Studied XAUUSD pretty well. I’ve lost many trades along the way. But when it went my way I made good money I woke up to my account being down $13,000 and in the negative for $607. If The trades had went against I’d suck it up like a man. But they took all off my money and erased all the trade history that I built so there isn’t any evidence against them. Fortunately I had many screenshots of my trades off which I'm going to be sharing. after looking back at the candles. I have learnt my TP was met but they STOLE ALL OF MY FUNDS. I reached out to them via chat support. Answer I got was I AM NOT GOING TO ARGUE WITH U....I responded with if I’m asking for my trade history and funds how is that arguing. She left the chat I got an email saying it is correct. If it is where is all the EVIDENCE ? Why have u deleted it? THEY ARE A SCAM. I know another gentleman they did the same to as well please beware. They’re not only u regulated THEY ARE FRAUDS. HOPE THIS HELPS FOR ALL TRADERS THAT NEED BROKERS STAY AWAY!!!! CoinXx is a broker that has solid reviews, but they also aren’t regulated but they have decency and hopefully WILL NOT RUN AWAY WITH YOUR FUNDS AND ERASE YOUR HISTORY. Please I do not want anyone else to go through what I went through please STAY AWAY FROM HUGO’s way.
  4 traders have found this review helpful
Tori,
Osorto, USA,
Dec 2, 2019,
Guest

Not the best

Service use: Live

Hugos way has great spreds but hate their withdrawal method, you can only withdraw with bitcoin and to deposit money it has to be through zell. This is hard to convert because I dont use bitcoin at all and dont know how to exchange it for dollars. Would not recommend as a broker if you like a smooth deposit and withdrawal.
  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