HugosWay Review

2.885 · 120 REVIEWS

Hugo's Way

Updated: Feb 19, 2021 · 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: 2018
Address: Beachmont Business Centre, Suite 65, Kingstown, St. Vincent and the Grenadines, Saint Vincent And Grenadines
Contact: support@hugosway.com
Regional offices:
Regulators:
Prohibited countries:
Trading platforms: MT4, WebTrader, Desktop Terminal
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (55+)
Cryptocurrencies: (35+) Bitcoin, Litecoin, Ethereum
CFD: (170+) 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, VLoad
Withdrawal Methods: Bank Wire, Bitcoin, VLoad

Live discussion

Join live discussion of HugosWay.com on our forum

Go to forums

Video

Your company video here? Contact ad sales

2.885 · 120 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Traders Reviews

cornwall, United Kingdom,
Oct 13, 2020,
Registered user

good crypto trading platform

Service use: Live

Length of use: 3-6 Months

Joined this broker to do crypto trading on the weekend as they offered good leverage and the most tradable crypto pairs from any broker, this has gone well and enjoyed using this service for this bases but also using it as my main currency trading account now and going well. found that there bitcoin withdrawals are faster then most other brokers so going to stick with them and use them more and more. get laid out easy to use platform!
 
Reply by hugosway submitted Oct 15, 2020:
Hi there, thanks for your positive review! We do offer 24/7 trading on over 35 crypto assets, together with high leverage and 24/7 customer support. Our team does their best to process all withdrawal requests within the same business day, ensuring our clients are given quick access to their funds. Happy trading!
Serbia, North Macedonia,
Oct 12, 2020,
Registered user

Service use: Live

Terrible broker, stay away, manipulated totally and racking people off. When u enter they change the price, when u take profits they change the price. If you look the charts anywhere those prices never reach so low but you have lost the traid.
 
Reply by hugosway submitted Oct 15, 2020:
Hi Zoran,

As an ECN broker, the price quotes displayed on our platform are constantly updated to ensure that we provide the best spreads directly from our liquidity providers. All market orders are executed using straight-through processing, to ensure no interference with client trades.

Since you have not provided your email address or account number, we encourage you to contact our 24/7 Customer Support Team by quoting your MT4 account number, together with the ID of any affected trades and an explanation of your experience in your message. Our agents are available via live chat, email or phone call, for your convenience. We look forward to hearing from you.
Canada, Bahamas,
Sep 25, 2020,
Registered user

Unregulated criminal broker!

Service use: Live

Length of use: 0-3 Months

Please stay away from this broker, and don't ever send them any document! Hugo way is an unregulated criminal broker doing identity theft! They will steal your ID and get rid of you right away once you give your papers to them! The KYC is a total scam and should not be used by anyone who wants to risk their money on this unregulated scam broker! I wanted to do my KYC to connect other payment methods. Still, once they received my documents plus a selfie with the date of today with on it the name of Jamie, the useless shift leader, he blocked my account right after receiving my documents! This is how this kind of broker treats a brand-new customer. They have been ignoring my emails and live chat and even blocking my IP address after this nonsense!
But the thing is they are to dumb to realize that anyone can have multiple accounts under different emails using a VPN. So, you can see the untrained HUGO staff don't have any common sense or competence to handle customers! I requested a call from the supervisor for an explanation, but I bet they are not going to call!

I would like to hear from the supervisor here in the forex peace army. They already have bad reviews over here, and believe me, this case will be the nail in the coffin if they want to play dirty! I have a terrible temper, and I know how to deal with the reputation of scam brokers like HUGO!. Thieves and brainless incompetents should not have the right to handle this kind of business in the forex industry! Let's see what the supervisor of Hugo FX will tell me about this bloody nonsense here in Forex Peace army or over the phone if they ever decide to call me!! I have everything recorded emails and live chat, and ready to expose everything if they don't fix this s***, or I don't hear from the supervisor!

More. Community discussion of this issue >>

 
Reply by hugosway submitted Sep 28, 2020:
Hi there,

We have managed to locate your chat history and found that our Customer Support Agents were helpful and professional when responding to your request.

KYC documents are only a requirement for clients who want to use deposit and withdrawal methods other than Bitcoin. If you choose to submit KYC documents, the name registered on your account must match the name on the submitted documents. Otherwise, clients will need to update their account details. It is standard procedure to ask clients a number of security questions when they request to change their account details. For an added layer of security, we also ask clients to send a selfie so that we can make sure that the proof of Identity which they have submitted is correct.

From the transcripts of your chat history, we noted that you asked the Customer Support Agent to delete your account. This action was completed before your KYC documents were processed, as KYC verification may take up to 24 hours.

If you require further clarification, you may contact the Customer Support Team 24/7, either through Live chat, email or by requesting a phone call.

Regards,
The Hugo’sWay Team
ghargur, Malta,
Aug 25, 2020,
Registered user

excllent customer service cooperation

Service use: Live

Length of use: 6-12 Months

this broker is very fast at communication when it comes to any even minor queries and problems I had. I take advantage of the leverage options with the small trade size allowed also.
good broker in general, can't complain.
 
Reply by hugosway submitted Sep 17, 2020:
Hi Adam and thank you for sharing your positive review! Our professional support team is available 24/7 via Live chat, email and call back request to assist traders with any queries.
Kent, United Kingdom,
Aug 19, 2020,
Registered user

Solid experience so far

Service use: Live

Length of use: 3-6 Months

Used Hugosway around 6 months now to diversify the money I hold in brokers I can trade crypto and FX with. Think these guys have been around a few years now and they seem to have it nailed down. Shame to see some of the bad reviews but my experience has been good. Quick withdrawals which is so important to me. Why should we have to wait ages for money we make. Normally a few hours using the bitcoin deposits and withdrawals. Can't comment on the alternative methods as I haven't used them. Had an email a few months back about a new server added and upgraded so that should add to the stability of the platform. Works well on MT4 and the webtrader is actually pretty decent.
 
Reply by hugosway submitted Sep 17, 2020:
Thank you for your positive review! Our team processes all withdrawal requests within the same business day to ensure our clients are given quick access to their funds.
Dublin, Ireland,
Aug 15, 2020,
Registered user

Impressed with the service

Service use: Live

Length of use: 6-12 Months

I have started using Hugosway 7 months ago and i have been impressed with the service provided. I mainly use it to scalp indices and i have found the leverage and minimum deposit of 10US very handy as i was trialing now strategies and could test them on a low amount account as im not a fan of demoing at times. I have withdrawn on multiple occasions now from small to relatively large amounts and all have gone through without a hitch. As long as all continues in the same way ill be using them for years to come
 
Reply by hugosway submitted Sep 17, 2020:
Thank you for sharing your positive experience! We do offer both Demo and Live accounts with low minimum deposits and high leverage, and all withdrawals are processed within 24 hours to ensure quick access to your funds.
Essex, United Kingdom,
Aug 9, 2020,
Registered user

Have returned to Hugosway

Service use: Live

Length of use: over 1 Year

I have returned to Hugosway due to them recently upgrading their server and due to the fact I can trade crypto 24/7 with them. I am impressed that withdrawals are made same day.
 
Reply by hugosway submitted Aug 14, 2020:
Hi Steve and thank you for your kind words! At Hugo's Way we pride ourselves in offering traders rapid access to liquid funds coupled with pristine trading conditions. We are very pleased to have you back and making the most of our upgraded systems. Don't hesitate to get in touch with our 24/7 professional support team whenever needed.
In my skin, USA,
Aug 5, 2020,
Registered user

Sketchy

Service use: Live

Length of use: 3-6 Months

Hugo’s way pros: large variety of pairs, indices, crypto’s
Sort of fast withdrawal times

Cons: customer support is horrible. They take forever to respond and do not resolve issues. Their server will say “busy” and result in a closing trade with reduced or no profit. When you contact support they will blame it on YOUR internet connection and not credit your account. Their spreads are larger than other brokers. Their charts are not aligned with trading view.

Something is off about this broker. I’m currently looking for another.
  1 trader has found this review helpful
Reply by hugosway submitted Aug 7, 2020:
Hi there, I was unable to locate you on our system based on the information provided in your review. We do offer a large selection of tradable assets on our platform which is well received by our traders. We fully understand the importance of clients having access to liquid funds, particularly in today's economic climate - which is why we offer same-day withdrawals. With regards to your comment about our customer support services, our professional team is available 24/7 to help with any queries experienced by our clients and is always willing to go above and beyond to help our traders. We provide three modes of contact: Live Chat, email or call back request at a time that suits you best and pride ourselves in offering some of the best support in the industry.

Market Orders are processed instantly through STP execution to eliminate waiting times for orders to be filled with liquidity coming from top tier financial institutions. In terms of downtime, all clients are notified in advance to any instances of planned downtime on the MT4 Server. Regarding wide spreads, this is normal upon market open as there are far fewer traders, which in turn means less liquidity and higher market volatility, widening the spread. It is normal for this to occur on almost all broker platforms due to the same points outlined above. Avoiding holding positions overnight will help reduce the risk of unexpected price movements. That being said, 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.

Hugo’sWay is a fully transparent online broker that strives to provide clients with an excellent trading environment coupled with a fully trained support team available 24/7. Please get in touch should you need any further clarification and we will be happy to help.
Denver, USA,
Aug 4, 2020,
Registered user

Stay away if you want succes in this business

Service use: Live

Length of use: 0-3 Months

Use regulated services only and leave them hugoway son of feminine hounds out the picture..they will play against you no Matter what strategy you use or have to offer up and trust me I am very patient when it come to trading and waiting ...I repeat stay away and don't listen to the bullpoopy people tell you about hugosway because 9/10 nobody cares about anyone's succes ...
for a good entry with bullishness with a strong conformation in a uptrend and they stop you out and take your money and let the trend continue the direction afterwards like I understand you win some and lose some but to keep losing like that lol you lost a customer and I promise I will never send people that way
have sex with them and make passionate love to their fix spreads
  2 traders have found this review helpful
Florida, USA,
Jul 29, 2020,
Registered user

Great Support Skeptical practices

Service use: Live

Length of use: over 1 Year

Ive ben trading for the past two years now. I have also had only very good customer support and ease of transfers to my wallet from my bank account with this broker. However as of late I've been noticing on the open of the new market day HUGOS way will have ridiculous price gaps to almost 20 pips or more and increased spreads.

These gaps are not shown on any other reliable chart or provider that I use and I am very skeptical of their practices especially for those operating with smaller account sizes.
  3 traders have found this review helpful
Reply by hugosway submitted Aug 4, 2020:
Hi there, I was unable to find you on our system using your review information. At Hugo’s Way, we pride ourselves on offering clients the very best customer support allowing our traders to trade with peace of mind.

When the markets close, an instrument's pricing is still changing as there is still movement in the financial world. Upon reopening of the market, there will naturally be a gap in the prices between the closure and open price.

This can be a small or a significant jump depending on what news/events have happened while the market was closed. This is something beyond our control given that prices come directly from our Liquidity Providers. As such, when another broker/viewing platform does not have the same gap/prices it simply means they are not using the same Liquidity Provider.

Regarding wide spreads, this is normal upon market open as there are far fewer traders, which in turn means less liquidity and higher market volatility, widening the spread. It is normal for this to occur on almost all broker platforms due to the same points outlined above.

We are a fully transparent broker and all traders are free to withdraw at any time. CFD trading with leverage does come attached to risk which is fully outlined in our risk disclosure agreement. With high leverage settings comes greater risk, especially to lesser experienced traders. As such, we allow all traders to open MT4 accounts with a leverage setting of their choice with the lowest being 1:1 and maximum being 1:500 for Forex.

We hope this helps clear things up for you, should you require any further clarification, please get in touch with us and one of our dedicated, professional team will happily go over this with you. Reach out to us via LiveChat, call back request or email support@hugosway.com. We look forward to hearing from you.

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