HugosWay review: Is it a legit or scam forex broker?
5 star HugosWay review by HeavenLeighRob, USA
I liked being able to open an account with $10 in the beginning. I know that isn't much to get started, but I was hesitant as a beginner and felt more comfortable starting with a small amount. I liked that this broker didn't pressure me to deposit more and that I was able to trade with lower than average spreads without depositing hundreds or thousands of dollars. It's also helpful knowing that their customer support team can be reached so easily in case it's ever needed.
What is HugosWay?
HugosWay is a forex broker online since August 2018. Headquarters is located in St. Vincent and the Grenadines and the broker is not regulated.
Hugo Fx trading instruments include over 55 currencies, 35+ cryptos, and 170+ CFDs including precious metals, stocks, indexes, and commodities.
MT4 platform is hugo sole trading platform. It is available as browser WebTrader, Mac and PC desktop versions, and also as Apple and Android mobile.
Hugo Way's special features are Bitcoin funding and withdrawals, and the notable company blog.
Please read HugosWay com Reviews below and share your live trading experiences with this broker.
|Minimum Trade Size:||0.01|
|Minimum to Open Live:||$10|
|Address:||Beachmont Business Centre, Suite 65, Kingstown, St. Vincent and the Grenadines, Saint Vincent And Grenadines|
|Trading platforms:||MT4, WebTrader, Desktop Terminal|
|Web Trading:||✅ Yes|
|Mobile Trading:||✅ Yes|
|Cryptocurrencies:||(35+) Bitcoin, Litecoin, Ethereum|
|CFD:||(170+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities|
|News Trading:||✅ Yes|
|Deposit Methods:||Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Bitcoin, VLoad|
|Withdrawal Methods:||Bank Wire (BankTransfer/SWIFT), Bitcoin, VLoad|
Recent User Reviews of HugosWay
Lies about connections - Lead to a considerable loss
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)
Hugo’s Way is Fraud. Please BEWARE.
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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?
- 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.
How do I deposit money into HugosWay?
Where is HugosWay located?
What is HugosWay?
Is HugosWay legal?