HugosWay Review

2.997 · 133 REVIEWS

Hugo's Way

Updated: Aug 6, 2021 · 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

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2.997 · 133 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

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Traders Reviews

Shan,
Florida, USA,
Apr 29, 2019,
Guest

For me it has been smooth

I've been with Hugosway for about 5 months now, I've never had a problem. The people who do have problems are usually the ones trading during HIGH impact news or when the market is basically closed and the spreads widens. Yes they've had some downtime here and there, but it hasn't been bothersome.

Their deposits are quick and so are their withdrawals. They refund your money if there was a legit issue, though I haven't done this before but I've seen them refund other peoples money.

Before you trade, just put an SL/TP and I don't trade during high impact news anyway, just the hour before or after. DURING, you're asking for trouble, from any broker.
 
Martin,
Atlanta, USA,
Apr 30, 2019,
Guest

Overall great

Customer service is amazing one of the most pleasant depositing and Fast withdrawal experiences ever.. Low Spreads
 
Harry robson,
Uk, United Kingdom,
May 9, 2019,
Guest

Awful

SwaP, is horrendous, get stopped out basically every daily closure, pay 25$ for a withdrawal complete scam and useless broker
 
Austria,
May 29, 2019,
Registered user

TP skipped Buy/Sell stops moved

Useless to say they move your Buy Stop or Sell Stop how much they want they even skip Take Profits,I ve contacted them and they played the Spread Card where it wasn t the case,even sent them the order number and the actual screenshot of the event happening LIVE!YES I WAS WATCHING MY TRADE and very aware of the spread but they had no issue to grab my SL there was no technical error at all

C:\Users\me\Desktop\Hugofuckedupbigly.png
 
Utah, USA,
Jun 11, 2019,
Registered user

Good

I haven’t experienced any of the issues others are having in this forum. Easy deposits via credit card, easy withdrawal via bitcoin. Received funds in my bitcoin wallet same day. No slippage seen so far. Will update if anything changes but they’ve been great so far!
 
New york, USA,
Jun 15, 2019,
Registered user

2 weeks and still no money

Service use: Live

Length of use: 6-12 Months

So hugosway is holding my money hostage. They must've read my honest and accurate reviews and decided to purposely make me go through hoops.

Even after I've given them everything they requested, it's now been over 2 weeks and my money hasn't reached my bank account.

What a sorry excuse for a broker.

Please avoid them if you like your hard earned money.

Jun 4, 2019 - 1 Star Last update for hugosway. 06/04/2019.

So I had an open trade with a trail stop in place. But as soon as the price hit, right before my eyes the candle changed shape, gapped and then I wasn't able to update the trade. Obvious price manipulation.

I opened a ticket with hugosway but they refused to refund me the losses even after admitting that THEY had server issues. This alone cost me 1800 dollars. They claim that if it's their fault they will refund you, but it's all a lie. This is a scam broker. They have convenient server issues all of the time and don't care about thier customers. They got off to a good start but quickly fell off. Stay away from this broker if you want to keep your money.

I have withdrawn all of my money. Goodbye hugosway.

Apr 5, 2019 - 1 Star So this is an updated review. This broker started off well so I had given them a 4 star review but now I see why there are so many recent bad reviews. Here are the things I've noticed:

1. Terrible slippage - Slippage is normal in trading but man is it bad with hugosway. When a trade hits your SL, there is plenty of slippage, but when it hits your take profit, they give the exact amount, no matter how fast the trade goes past it.

2. Server down - HW's servers go down frequently. During NFP today, they were down for a whole 3 hours which is ridiculous. If they manage to retain any customers after today, it will be a miracle. I personally missed out on about 5k thanks to this "hiccup."

3. Customer Service - I've noticed that they are very responsive but not necessarily very helpful. They give you scripted answers every time and tell you they are not trading experts.... wtf? Then why even be there?

4. We're about to find out today how good they are with withdrawals... I'm taking my 6-figure account out of there before any worst damage is done!

In summary, I no longer recommend hugosway. What a shame.

Feb 24, 2019 - 4 Stars I'm reading a lot of recent bad reviews for Hugosway, but I haven't had any issues yet. I've grown my account by over 70% in 1.5 months and haven't see anything shady from them.

I will mention that an inordinate amount of trades in the past week have gone 0.3- 0,5 pips (yes less than one pip) away from Take profit and then reversing, but this I attribute to bad luck. If more of this happens, then maybe I'll raise an eyebrow.

Other than this, Fast deposits/withdrawals and good options, decent spreads and 1:500 leverage, half pip commissions and great customer service via chat, this makes HW a top broker in my opinion. Haven't noticed anything shady like stop hunting or any other type of manipulation, but I've been winning so haven't looked too closely.

I just opened a decently large account with them, so I'll have more in the coming days/weeks. Hopefully they maintain this awesome track record.

Some recommendations for HW to get 5 stars:
1. Add more deposit/withdrawal options (i.e. CC). Although, I did do a wire and from submittal to money being in my account, it took 2 business days, which is awesome.
2. Offer free/paid VPS for those who want to use EA's or trade multiple accounts with trailing stop losses. I fall into the latter.
3. Consider increasing leverage.
4. No commission option.
5. I've been with good brokers that really fall off due to greed. Please keep up the good work and don't fall into the greed trap.
 
Unhappy Trader,
Offline, USA,
Jun 16, 2019,
Guest

Bitcoin Trading Shut Down

Bitcoin trading has been offline. My guess would be a lot of money is being made by traders so they took it offline. If Bitcoin were to suddenly drop they would quickly turn it back on so they can scoop some more of your money. What a bunch of scammers. Time for a broker change.
  1 trader has found this review helpful
Ruston, USA,
Jun 17, 2019,
Registered user

Great broker

Service use: Live

Length of use: over 1 Year

I have had few issues with Hugo. When I do, they are always resolved in a timely manner. Withdrawals are fast also. Hugo is wonderful.
 
Houston, USA,
Jul 2, 2019,
Registered user

Good until it was real bad

Service use: Live

Length of use: over 1 Year

I had Hugosway for quite some time and never had any major issues. Any issues that would arise, I would complete a ticket and my issue would be mitigated. I've had them correct slippage as well as missed stop losses. However the unforgivable happened. As I was in a trade, MT4 froze as in I could not close or edit my trade. But at the same time the trade was still moving. I originally attempted to get out of the trade with a $47 loss, which as I mentioned before the platform would not allow. My losses reached $240 by the time I was able to get out of the trade. Upon contacting customer service, they make it clear this was the fault of the liquidator(bitfinex) therefore no refunds would be issued. Ok I'm angry but I'll take that lump...I had ONE question, maybe more than one, but how can I protect myself from this happening? Are issues with liquidity providers common and is this something I should expect? And if this happens is everyone off the hook, as in said broker, Hugosway as well as liquidity provider(bitfinex)? I received no answer to my concerns except having the fact that there will be no refund on Hugosway end, shoved down my throat after already conceding to that fact. I literally had to watch my account dwindle without having the power to close the trades.
  1 trader has found this review helpful
MADD Maddy,
DC, USA,
Jul 3, 2019,
Guest

Problems

Service use: Live

Length of use: 3-6 Months

They always have a problem every time I am going to hit a big profit. Then you get to customer service promising to help, but they do NOTHING and pass the blame on someone else. Tired of the passing the blame.
  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