HugosWay Review

2.788 · 96 REVIEWS

Hugo's Way

Updated: Jul 11, 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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2.788 · 96 REVIEWS
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DO YOU RECOMMEND THIS COMPANY?

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Traders Reviews

Michael,
USA, USA,
Jul 6, 2020,
Guest

Very Scammy Broker - Poor Customer Service(Hugosway or Highway)

Service use: Live

Length of use: 3-6 Months

Scammy broker, they will rob you of your money without any evidence of why your trade errored out. They will blame it on fictional spreads that they make up on the fly 20+, 30+ pip spreads on major and minor pairs that are typically only a couple pips!! They will try to use these fake spread amounts to somehow justify them sucking hundreds out of your account instantaneously!! Stay away from this broker if you care about your money!
 
Ireland, Ireland,
Jul 5, 2020,
Registered user

Good all rounder

Service use: Live

Length of use: 6-12 Months

Got introduced to these guys on another forum .
I'm always looking for brokers that I can trade Crypto on .
They didn't disappoint. Fast withdrawals , good leverage that I cant get with other brokers and running a Crypto EA no issues with that .
The weekends are relatively free for me hence the draw of the weekend Crypto trading. Good selection of tradable assets , a good all rounder .
 
Newport, United Kingdom,
Jun 30, 2020,
Registered user

Good all round broker with fast customer service

Service use: Live

Length of use: 3-6 Months

Good spreads and fast withdrawals. I like that the BTC market stays open over weekend so I can hold long term positions.
 
London, United Kingdom,
Jun 30, 2020,
Registered user

Never had a problem

Service use: Live

Length of use: 6-12 Months

Surprised to read the bad reviews as I have never had a problem.
Service always been decent and platform works.
I don't need much out of a broker, Bitcoin weekend trading is my main thing and they allow this.
 
Oxford, United Kingdom,
Jun 29, 2020,
Registered user

A winner for trading Crypto

Service use: Live

Length of use: over 1 Year

Hugosway has been very reliable in my experience, and provided me with the trading requirements I needed, from high leverage at 500:1 for Forex trading and fast withdrawals.
However, it is the crypto trading service they provide that makes this a 4 star broker for me. Again they provide a high leverage on all the 30+ crypto pairs and the golden ticket of 24/7 trading which I could not access at other brokers.
 
Dc, USA,
Jun 27, 2020,
Registered user

Bad withdrawal experience

Service use: Live

Length of use: 0-3 Months

My trading experience on Hugo’s way was great. No complaints on that end. I signed up and deposit my bitcoin with no issues. Made some winning trades and went to cash out. That is when all the problems began. There was no kyc required to sign up or make a deposit, but at withdrawal I’m told I have to do kyc after allowing me to already trade...... ok fine...... but after doing kyc and sending documents my withdrawals have still been sitting in pending for some days which makes me start to feel Hugosway is a scam. Talked to chat live and they took my information contacted the payment department and told me I should have funds within a few hours several different time on different days.
Im still receiving the pending status on my withdrawal. If my expert changes I will up date this post.
 
Brooklyn, nyc, USA,
Jun 25, 2020,
Registered user

the worst brokers scam

Service use: Live

Length of use: 0-3 Months

they are the worse do not go with this broken I started out with a $100 deposit I made a $50 profit and 10 minutes I lost it all I don't know much about hot a do business but they just basically gonna leave your broke in blind.
 
South coast, United Kingdom,
Jun 23, 2020,
Registered user

Trading crypto no worries

Service use: Live

Length of use: 3-6 Months

Been trading crypto mainly BTC,ETH & NEO but had some success with LTC and IOTA. Would be cool to trade ADA as it’s flying and XRP in the future once it finally moves lol. Been making deposits and a couple of test withdrawals with BTC payments no worries so far.
 
Uk, United Kingdom,
Jun 21, 2020,
Registered user

Strong platform offering exciting options

Service use: Live

Length of use: 6-12 Months

Trading at Hugosway currently and pleasantly surprised with the plethora of pairs and options to trade daily. The broker offers crypto trading 247 alongside regular forex and indicies seen at most brokers in 2020.

I have tested the same day withdrawal policy on both weekdays and weekends and am pleased with the speed of withdrawal through BTC which requires a few confirmations on the blockchain which you can monitor.
Overall the experience has been positive and i can see the broker moving forward with faster servers and mors stock trading options
 
Texas, USA,
Jun 17, 2020,
Registered user

Not helpful I was lied to twice

Service use: Live

Length of use: 0-3 Months

Loaded money and never saw it again.still waiting on my money to load.not sure if this is real or if they just taking time to load my money I'll keep everyone updated
 
Reply by hugosway submitted Jun 19, 2020:
Hi Larry, i'm so sorry you felt the need to instantly write a negative review whilst your funds are still being loaded onto your account. You have not provided any account information via FPA so i cannot review your account to see what happened. I can only presume you have loaded your account with BTC and we are still waiting for 6 network confirmations for it to be credited to your account.
timothy,
london, United Kingdom,
Jun 16, 2020,
Guest

great easy broker yo use

Service use: Live

Length of use: over 1 Year

been using this broker for a while now with some EA's and have to say the customer service is top notch. and the withdrawls are mostly same day.
 
Reply by hugosway submitted Jun 19, 2020:
Thank you
Kent, United Kingdom,
Jun 16, 2020,
Registered user

Does what I expect a broker to do

Service use: Live

Length of use: over 1 Year

With so many brokers on the market it is hard to really distinguish between bad, ok, good and great for me as they should all just serve a purpose but maybe I have my expectations set too high!

After looking around for brokers I came across Hugosway and read some reviews which were generally very good. My other broker IC Markets, while decent lacks the crypto assets that I was keen to look into. I had already aware of the lack of regulation and this was not a concern of mine as I never keep more in a broker than I can afford to lose anyway and I favoured the higher leverage and lower fees offered.

I opened a demo and account and the experience is good. The webtrader is a nice addition to use if you want access to the account without downloading MT4. Spreads were generally ok, particularly on the cryptos. The chat facility was good and the staff very friendly but in 2020 isn't that something that should be the norm?

I went on to a live account and found the bitcoin deposits ok. Takes a little longer to hit the account than card but the trade off is that withdrawals are much quicker. In my experience they take around 2 hrs, give or take. In my time of using them live I can't say I have ever noticed any voiding of trades or random movements not accounted for on Trading View or anything so it is a stable platform to trade on. The number of assets, indices, cryptos, etc to trade is also quite impressive.

Overall a decent experience, perhaps tempered by my expectations of what a broker should offer. This should be normal so I have graded based on that sentiment. Sadly there are certainly worse brokers out there. It is a shame that finding a decent one is the first battle you face without the challenge of learning to trade itself!
 
Reply by hugosway submitted Jun 19, 2020:
Thank you very much for your kind review
Wales, United Kingdom,
Jun 14, 2020,
Registered user

Good broker had no issues.

Been using these for sometime now, was first interested because of the ability to deposit and withdraw with bitcoin. I found the spreads on forex pairs to be very good and the amount of crypto’s to trade there are more than most brokers have. Withdrawals have been quick and when I’ve used the customer support they’ve been very responsive.
 
Reply by hugosway submitted Jun 16, 2020:
Thank you for providing a review of our service
Lagos, Nigeria,
Jun 12, 2020,
Registered user

Withdrawal issue

Service use: Live

Length of use: 0-3 Months

I've been having a pending withdrawal issue for about a week now contacted the support with no response till now
 
Reply by hugosway submitted Jun 16, 2020:
Hi, i have tried to locate your account under your profile name of Ibraheem Rahman and i'm afraid that we do not have any clients with that name on our system. Please could you reach out to support again or edit this review with some account information so we can locate your account and respond to the issues that you are having?
Some where, USA,
Jun 12, 2020,
Registered user

SCAMMERS HUGOS WAY SCAMMERS! Run!

Service use: Live

Length of use: 3-6 Months

They manipulate the market and trade against you run! I have proof from FTMO that I’m a damn good trader but for some reason I can’t win a trade to save my life at Hugo’s way!? Stay away from B book brokers! Take the bad reviews to heart and ignore the lure of high leverage because you will never be profitable with Hugosway unless your a YouTuber or a representative for Hugos way.
 
Reply by hugosway submitted Jun 16, 2020:
Hi, i'm so sorry that you felt the need to provide us with a bad review based on your experience trading with us. Unfortunately you did not leave any account information via FPA when placing the review so we cannot locate your account and dig deeper into the problems that you may be facing. Please reach out to support again providing your account information or edit this review and we will be more than happy to review your account and publicly respond.
Essex, United Kingdom,
Jun 11, 2020,
Registered user

Good broker forex and crypto

I have been using Hugosway since March 2019 and would recommend them as a good all round broker. I use them for forex and 24/7 crypto. I have found the leverage good for both as well as the amount of pairs available to trade. Also impressive is the fact that all my withdrawals so far have been made same day.
 
Reply by hugosway submitted Jun 16, 2020:
Thank you for taking the time to review us
fanling, Hong Kong,
Jun 9, 2020,
Registered user

Made good money on this platform thanks to the crypto trading

Service use: Live

Length of use: over 1 Year

I joined Hugosway over a year ago now due to them offering 24/7 crypto trading. Its something i wanted to explore more as the forex markets are closed over weekends.
The leverage worked well for me mostly trading Bitcoin as i find a broker mt4 platform much easier to navigate than a crypto exchange. I havent had any issues with deposits or withdrawals (and ive done quite a few withdrawals). Long live bitcoin as ill be here like always trading it up and down. I would recommend this platform for the ease of use and good trading conditions
 
Reply by hugosway submitted Jun 16, 2020:
Thank you for taking the time to post a review
England, United Kingdom,
Jun 8, 2020,
Registered user

Great broker for 18 months

Service use: Live

Length of use: over 1 Year

I've been using hugosway for over 18 months now and I've been very happy. I can't think of any reason not to use them. Leverage is ideal for me and spreads are good enough. Withdrawals have been timely. I always deposit with bitcoin which is processed pretty quick. All the currency pairs I need. Don't do loads of crypto but there's plenty on there. Gets my vote 
 
Reply by hugosway submitted Jun 9, 2020:
Thank you for your kind words
Varna, Bulgaria,
Jun 4, 2020,
Registered user

Good experience

Length of use: over 1 Year

I have only good experience with them. One of my favorite brokers. The big pluses for me are fast withdraws and 24/7 crypto trading.
 
Reply by hugosway submitted Jun 9, 2020:
Thank you, we try our best to make withdrawing as smooth as possible
Illinois, USA,
Jun 3, 2020,
Registered user

Stole my money

Service use: Live

Length of use: 0-3 Months

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.
  1 trader has found this review helpful
Reply by hugosway submitted Jun 9, 2020:
Hi KDORSEY13, thank you for providing us with your account information via FPA for us to properly reply to your complaint. I have managed to locate your account and analysed the two gold trades you refer to in your review. I can see that both trades were placed via the mobile app (which you normally use to place trades), however I do also see that it was made from an IP address that you do not normally use. This leads me to believe that you have shared your MT4 account credentials with a third party.

We have also analysed the trades that were placed which you can see in the following screenshot: http://prntscr.com/swsx1a . The red arrow shows the time and price your trades were entered (7 seconds apart). It appears that the two BUY trades were entered in an upward trend with the hopes that the trend would continue. Unfortunately a few minutes after the trades were opened the trend changed, which as a result of no stoploss in place, the account got margin called.

We cannot stress enough for traders to never share their account information with third parties. We can assure you that HW did not and will never open any positions for clients and categorically did not steal your money as your review claims.
Liverpool, United Kingdom,
Jun 3, 2020,
Registered user

Decent broker.

Length of use: over 1 Year

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.
 
Reply by hugosway submitted Jun 9, 2020:
Thank you for your kind words and recommending us to other traders
Anoymous,
Michigan, USA,
Jun 3, 2020,
Guest

Hugosway EXPOSED stole $90,000 from me

Service use: Live

Length of use: 3-6 Months

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.
  1 trader has found this review helpful
Reply by hugosway submitted Jun 9, 2020:
Hi, we are unsure as to why you felt the need to write a negative review about the pricing error that was clearly explained to you via support.

Please review the following screenshot that clearly highlights the pricing error
http://prntscr.com/swtjzo

We responded to you with the following via support:
We are aware of an issue with the Dollar Index that mistakenly showed the price as around 100x that of the actual market price. This caused large profit and large negative on accounts that were not legitimate. We have ensured all those with negative accounts were set back to their previous balance and those with illegitimate profits were removed back to the actual account balance.
Michigan, USA,
May 29, 2020,
Registered user

B Booking Brokers

Service use: Live

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.
  1 trader has found this review helpful
Reply by hugosway submitted Jun 9, 2020:
Hi Daduush and thank you for providing us with this feedback. Please be advised that we are in no way a market maker. Here at Hugo’s Way, we take great pride in providing our clients with some of the best trading conditions on the market. We are a true ECN STP broker, meaning that when a trader executes a trade, there will not be any manipulation from any dealing desk as well as ruling out any possible re-quotes. Using this method removes any potential conflict of interest.

Each and every trade is processed via the Hugo’s Way aggregator, which guarantees the very best rates on your trades, as these are pulled from a pool of top-tier liquidity financial institutions.

Here at Hugo’s Way, client funds are segregated, kept completely separate from the companies. All clients are free to withdraw funds at any time with Bitcoin being the quickest method available. Submit a request and receive funds within 24 hours of submission.

We are saddened to hear of your bad experience and would love to learn more so we can investigate further for you. As such, we would like to invite you to get in touch with our team of professional support staff. Once you provide us with your MT4 account number and the ID of any affected trades, we will happily look into this matter for you.

Contact us 24/7 via LiveChat, email or request a call back at a time that suits you best.
London, United Kingdom,
May 27, 2020,
Registered user

Had a really positive experience

Service use: Live

Length of use: over 1 Year

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.
 
Reply by hugosway submitted Jun 9, 2020:
Thank you for your positive review of our service
uk, United Kingdom,
May 26, 2020,
Registered user

Good Broker

Service use: Live

Length of use: over 1 Year

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.
 
Reply by hugosway submitted Jun 9, 2020:
Thank you for your kind review
Charlotte, USA,
May 26, 2020,
Registered user

Always freezes Lovks you out account saysaccount disabled” / Live Backup

Service use: Live

Length of use: 3-6 Months

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.
  3 traders have found this review helpful
Reply by hugosway submitted Jun 9, 2020:
Thank you for providing us with some feedback. Here at Hugo’s Way we take user experience extremely seriously. We have to hold our hands up and say that we are extremely sorry that you experienced these freezes which really are unacceptable.

This was due to our trading server being overloaded. Please could you refer to the following announcement where we addressed and fixed this issue on June 5th 2020 by launching an additional trading server to spread the load and optimised the existing trading server.

https://hugosway.com/ServiceUpgrade/

Please may i also highlight this section of the announcement:

What can I do if my trading was affected by downtime?
Hugo’s Way is fully committed to helping traders affected by infrastructure failures. If you feel that any positions were negatively affected through no fault of your own, please get in touch and quote your MT4 account number along with the Trade ID of any negatively affected trades. From here, a dedicated trading professional will review your account and look to reimburse you. Each Trade will be independently reviewed and cross-referenced with logged server issues.
Sven,
NC, USA,
May 11, 2020,
Guest

Avoid at all costs

Service use: Live

Length of use: 0-3 Months

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.
  1 trader has found this review helpful
Reply by hugosway submitted Jun 9, 2020:
Hi Sven, thank you for providing us with feedback. Unfortunately you did not leave any account details so we are unable to comment on your particular case. Please could you reach out to support again so we can resolve your issue however I am sure that you received your withdrawal. Please note that although support is 24/7, weekend support is limited which could be the reason why you experienced a delay in receiving your withdrawal.
Blaine, USA,
Apr 17, 2020,
Registered user

Service use: Live

Length of use: 6-12 Months

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.
  1 trader has found this review helpful
seattle, USA,
Apr 14, 2020,
Registered user

I have a terrible experience

Service use: Live

Length of use: 0-3 Months

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.
  1 trader has found this review helpful
Tampa Florida, USA,
Apr 1, 2020,
Registered user

THIEVESSSS!! (3/31/2020)

Service use: Live

Length of use: 0-3 Months

This is no joke, all of the reviews are for real. Listen to what happened to me. I put on a position today for USOIL long at 0.13 lots. It was running smoothly and pretty much at break even. Around 6 pm I open MT4 to find out that I am $375 DOWN. I start wondering why because my trade shows that I am losing 10 bucks on that trade. I then clicked on the position and found that they charged me $375 JUST ON SWAPS. Isn’t that the definition of a scam broker? Literally that swap should have been $5. I then reached to them and DID NOTHING and blamed it on their liquidity provider and said that I should be the one checking how much swaps the asset is before I enter the trade. WHO THE **** checks for the swap charges in every single trade they make? I know they charge something but damn man this is insane.

PLEASE STAY AWAY FROM THESE THIEVES
  4 traders have found this review helpful
Daniel,
Miami, USA,
Mar 30, 2020,
Guest

Horrible ... took my money

Service use: Live

Length of use: 0-3 Months

Everything was great until it was time to withdraw my funds. Easy to take your money , taking your money is no problem at all it’s the quickest thing to do . Withdrawing your money however is the biggest issue , and then they end up stealing all of it .
  2 traders have found this review helpful
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
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)
  2 traders have found this review helpful
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
  1 trader has found this review helpful
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
  2 traders have 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.
  2 traders have 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

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