HugosWay Review

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.