HugosWay review: Is it a legit or scam forex broker?

It is true, I just chatted with the company before applying for a live account. I asked for the funding methods available, and the only one they have right now is via bitcoins. That won't do for me, not with all the upfront advertisement they have on their website. I might try at some other time to see if their politics have changed on the subject. Until then they should remove from their advertisements, offers of funding via bank wires and credit cards.

Trading was fine, but I've been trying to withdraw funds for a week to no avail. It keeps getting rejected saying "Missing BTC address".

I'm doing it correctly, but now I'm thinking they're just keeping my money, so they won't be getting more of it. CS hasn't been helpful. Lesson learned.

I have been trading for over 15 years and have to say Hugo's Way is one of the best brokers I have ever used. First priority of course is how they handle withdrawals and I can tell you all my request were handled promptly and funds received into my bank account within 2 days. Next, trade execution. Once again 5 stars. All trades entered properly and fast, with very low spreads. Finally, customer service. This is outstanding. Always fast, accurate and friendly response with every customer service rep I have spoken with. I am so happy with them I have open accounts for my children and also encouraged other trades I know to contact them. Trust me on this, they are a welcome relief to the typical broker BS out there.

1. Its NOT regulated, even though site looks good with details, but if not regulated, that means something is FISHY.
2. They use Bitcoin. Because it has no trace. Even when using Credit/Debit Card, the clients are redirected to a third-party to buy Bitcoin. That's Crazy. Meaning they don't want any paper trails. So that's negative.
3. The address "Kingstown, St. Vincent and the Grenadines" is totally FISHY too.
Because Grenadines is in Caribbean sea which is a location for shady brokerage. So stay away from this broker as they are anonymous and that they can disappear any time without notice.
In the end I am not saying the company is totally bad. There are many people working with them, and from the loos of the review response, it shows that they are trying to keep the good picture. You may trade with them, you may make good bucks, I am sure you can if you understand the market trends, but is your money secure, there is NO guarantee. So if you have no problem losing money, and you wana have fun playing in the market, go a ahead. But if you are a concerned person then find regulated broker for YOUR country. (Cuz some times even regulated brokers are NOT allowed to do business or have customer from certain countries. So DO your research.
Peace.

Very satisfied clients! Excellent broker who is improving service to client on weekly bases. Spreads are excellent. Deposit by credit card are instant up to $ 600 3 times in 24 hours.
Not many other brokers allow you to buy only 0.01 micro of cryto.

And AGAIN ...I hate FXCM that was in USA... and Me and others bankrupt them in USA....They were " regulated" haha...and cheating clients!

Hugosway ...is the best broker I have had so far! 500:1 even for usa clients.

NO BODY IS BETTER

Nov 3, 2017 - No Rating Hello. I want to highly recommend this broker who is also my friend. He is one of the only one offering FOREX BITCOINS at leverage 100:1. I am a refering broker there fyi and also a trader who you can folow with 93 % performance in 24 days. Not onoy does hugosways provide some of the best spreads and excutions in the market but we are all like a family there of clients who are fed up with regulated USA brokers. If you have a US regulated you cannot be put in a pamn account ( managed and get that 93 % ) .... REMEMBER FXCM USA...trading against their clients and trowing their winning client out! REMEMBER THAT JERK "jason" who works for fxcm representing them here? I am responsable ( me and others like me ) for BANKCRUPTCING them in USA and SEND THEM PACKING to other countries. At hugosways...I can sleep at peace at night with the best spreads and a honest broker. I have a link that you can request by email and you will not be charge 30% performance fee but only 20% . Even if I were not a ib for them ....I most highly recommend them and also LMFX...all the rest I just don't like them . I traded 20 years ...trust me I have seen it all. Most people are "o my God " not USA regulated...Seriously stop being mind controlled by USA....they dont want any of us to succeed bit ridiculous leverage of 50:1 ....you may as well burn your money !

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.

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.

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.

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 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.

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

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!

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.

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.

I've been having a pending withdrawal issue for about a week now contacted the support with no response till now