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
Forex Peace Army
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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
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.
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
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.
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!
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
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
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
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.
Venom,
Usa, USA,
Apr 24, 2019,
Guest

Thieves

Worse broker ever used ... always stealing from your account .. when server goes down it only affects you only in profit but in losses they keep it intact .. they always stealing 10 pips when in profit ..
Bo Wang,
USA,
Apr 18, 2019,
Guest

Terrible broker. I have been with them for three weeks. Bad experience at server shut down and spread problems. Loss money always and you have no clear clue. You decide to switch to a new broker.
Gzira, Malta,
Apr 11, 2019,
Registered user

Overall nice to be able to trade forex and crypto under one broker, with tight spreads, good leverage, and a good client support team to hand if needb

Have been trading with Hugo's Way for a year now, but first 2-3 months were on demo.
very impressed with them as they offer a wide variety of instruments to trade, and many crypto pairs as well as good leverage for crypto (1: 100). Payouts have always been fast for me personally which is great, too.
Two things that make them stand out as a broker to me are the fact they are one of the few / only brokers that offer 24/7 crypto trading and their customer support are consistently friendly and responsive and fast, which is always nice.
USA,
Apr 9, 2019,
Registered user

Their execution is trash at times of news and also they are just recently messed up out of 10 pips which does not sound like much but to 3 lot which is 300 $ more dollars they owe me but they said the trade ended in positive so basically they NFP and I've done ton of business with them and they choose not to be steal money from traders time to time this is the 3rd time it's happened to me and everything is documented and screen recorded
Jason,
New York, USA,
Apr 6, 2019,
Guest

Terrible broker, steals money.

They're probably going to say "We could not find you in our system." Yeah, okay. Anyways, NFP yesterday was a disaster. They shut their servers down to their users after 20 minutes of NFP starting. Trapping people in their trades causing us to lose tones of money. I checked with other brokers, they were still up and running. It's funny because Hugosway can claim whatever they like but their demo servers were still up. Sp many people complained on their instagram page, which by the way. Looks super sketchy, 400 followers with random posts. People commented complaining, how do they deal with it? They delete EVERYONES comments. No apology or justifications, just swept it under the rug. Terrible broker, I can not wait to leave them.
Forex Peace Army
Review moderation team note
If you are worried about a broker claiming to not be able to find your name in the system, why didn't you include your account number in your review?
Jon,
New York, USA,
Mar 27, 2019,
Guest

Not legit broker

BROOO this is a real person not a a facking fake person but hugosway is a scam they literally steal your money when you trade. I have made over $8k then lost it all off it in a day like my stop loss didn’t work- spreads are just horrible and my account server stop working then I loose the trade. Also they manipulate the charts so you loose money!
Jay,
Usa, USA,
Mar 21, 2019,
Guest

Great Traders get Lock Out and Shown Different Chart

WARNING! Do Not Use Hugosway! They are not Connected to a Real Server. Not Regulated for US Clients, what is Un-Regulated Broker means? They create there own Chart so they can Manipulate your trade. Lastly, HUGOSWAY LOCK ME OUT Because I Keep Winning 90%-95-%. Stay away from this Broker. If your a newbie this is for you. If your a great trader, stay away. Just trust me, again if your a great trader, they will lock you out. You don’t believe me, then try. When they lock you out, go back to this comment and say thanks!