HugosWay.com Review Visit site

Updated: Dec 4, 2019
Hugo's Way
3.004 · 57 REVIEWS
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About HugosWay.com

Hugo'sWay is a forex broker. Hugo's Way offers the MetaTrader 4 forex trading top platform. HugosWay.com offers over 5 forex currency pairs, indices, commodities and stocks for your personal investment and trading options.

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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3.004 · 57 REVIEWS
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Consumer Reviews

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.
PA, USA,
Nov 28, 2019,
Registered user

Lies about connections - Lead to a considerable loss

Service use: Live

Length of use: 0-3 Months

Please note, I have been trading forex for 18 years and have used mt4 for all 18 years. Today I experienced what other's have but I often assumed that the user had faults on their side (connection issue = internet issue).

I run mt4 on my phone (Verizon or WIFI connection), a remote desktop with full network battery backup, and a VPS all of which held my account.

With 45 minutes prior to market close I was preparing to close my positions for the day. I had no connection on my phone, so i turned wifi off and restarted mt4on Verizon network. I still had no connection but still had internet service. I then jumped on my laptop on wifi and had no connection on mt4. I then restarted MT4 and still no connection. I then remoted into my desktop, no connection. One last try onto the VPS and still no connection. about three minutes later, surprise, I received connection but the market had moved a ton as it tends to do 30 minutes before the daily switches. Just as I went to close trades out, I lost connection again. Then about 10 minutes after the new daily started I received a margin call and thousands lost.

I reached out to their "team" and they claimed that they have no issues and that I should have logged off and re-entered my Password.

This isn't a matter of me not knowing how to use mt4, not having ample redundancies, and not having a stable network. This has everything to do with a lack of network stability on their side and/or manipulation. I have traded with several brokers over the years and I have never once had this issue unless the broker themselves had an issue.

They claim they had no server interruptions, yet several have reported on this issue on multiple occasions. It is clear to me that they do not and will not stand by their claim to technicalities and how they "refund" the customer.

Again, I am an extremely competent and experienced user of MT4 and setting up stable and reliable networks. I have never in 18 years had to log off and log back on to an account that was already running as a solution to a connection problem.

Thousands of dollars lost, learn from my mistake, stay away from this broker (it brings me no joy to report this, but the morality is clearly clouded here)

Josiah Myer (Yes I have an account with you, if they claim I don't, I will provides screenshots)
Uk, United Kingdom,
Oct 1, 2019,
Registered user

Good all round broker

Service use: Live

Length of use: 6-12 Months

Good old round broker, have moved to another now but still have a small account, good to trade crypto and forex
Phyllis - Annie Feliciano,
New Jersey, USA,
Sep 25, 2019,
Guest

THIEVES!!! STAY AWAY and go to a different broker

Service use: Live

Length of use: 0-3 Months

I started ok with the software. Then out of no where when I am almost $50.00 in profit. I had a few open trades that were in the blue - when I closed them. They closed out in the red for some reason (BIG AMOUNTS). Swiping almost $70.00 easily. I then built account back up $30.00. - Almost to my starting amount of $94.00

The same thing happened in a London session, swiping my account and bringing to 40 and some change. The next day randomly - out of no where, my account was negative $10 and this morning two trades completely closed on their own.. I put a ticket in, lets see if they genuinely adjust
1 trader has found this review helpful
United States, USA,
Sep 13, 2019,
Registered user

Not Many Options for US Residents

Service use: Live

Length of use: 3-6 Months

I trade crypto and gold. Being that I am in US I do not have many options and the brokers are limited. I have not had enough issues that make me completely leave this broker. There has been slippage and compared to some of the others the spreads are crazy but I just factor that into my trading style. I would definitely stay away from scalping as the spreads are already very large and jump up pretty quick during volitility and stop loss hunting. I have had no issues with deposits and withdraws have been quick for me which is why I am still giving them a chance. Customer service is not that responsive in solution but they will respond quickly with what seems like scripted responses due to hearing the same concerns multiple times.

Due to the fast deposits and withdraws I would recommend them and as long as you can adjust your trading style to consider what issues they have then this is a great broker to trade with. There seems to be issues with most offshore brokers so you work with what you can.
Bob,
New Mexico, USA,
Aug 19, 2019,
Guest

I'm torn on this broker

Service use: Demo

Length of use: 0-3 Months

First off, I am a fan because as a US citizen I can trade BTCUSD, SPX500, and other CFD's and not just forex.
Issues I have. I have only been demo trading right now but this is the first broker I've ever have that had a server go down, and then you're stuck without whatever the outcome is.
The candles to not match tradingview candles, not even close sometimes. I use tradingview for my TA and the candles on MT4 are completely different, sometimes to the point it would change my mind on the the direction of trade.
ALso, why is it that the candles will move buy the worth of my position will not, or is delayed.
I have an account with a US broker that I am also demo trading in and I can trade straight off of trading view from it and their MT4 and web platform candles are identical.
Would be nice if someone could shed some light on this or direct me to another broker that allows US residents to trade Crypto and CFD's.
1 trader has found this review helpful
Joe,
South Carolina, USA,
Aug 7, 2019,
Guest

Stop Loss NOT honored

Service use: Live

Length of use: over 1 Year

I had a trade open with this broker. News was hitting soon so I tightened my Stop loss to only 10 pips. News hit and my stop was slipped nearly 70 pips. Emailed Customer support and they told me they tried to close the trade but they were unable to, due to the News event. What is the point of using this broker if they don’t honor a STOP LOSS.
1 trader has found this review helpful
United States, USA,
Jul 20, 2019,
Registered user

Scam

Service use: Live

Length of use: 0-3 Months

When I was trading BTC, my MT4 would go offline, nor could I log in the website. All this was occurring while I had trades in the background.
2 traders have 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
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