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

2.727 • 139 REVIEWS
Hugo's Way
Updated: Dec 4, 2023

5 star HugosWay review by HeavenLeighRob, USA

I opened an account with Hugosway a little over a year ago and haven't had any issues!
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.

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
Regional offices:
Prohibited countries:
Trading platforms: MT4, WebTrader, Desktop Terminal
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes
ECN: ✅ Yes

Trading Instruments

Currencies: (55+)
Cryptocurrencies: (35+) Bitcoin, Litecoin, Ethereum
CFD: (170+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities

Trading Conditions

EAs/Robots: ✅ Yes
News Trading: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

Deposit Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Bitcoin, VLoad
Withdrawal Methods: Bank Wire (BankTransfer/SWIFT), Bitcoin, VLoad
* Please check broker website for more information
2.727 • 139 REVIEWS

Recent User Reviews of HugosWay

Arkansas, USA,
Dec 4, 2023,
Registered user

hugosway will not process my withdrawal

Service use: Live
It's been 72 hours since I requested a withdrawal. I have responded to their emails. It still says pending. They say my account is being reviewed. It's ridiculous to wait this long. I will NEVER use them again.

I also experienced not being able to close a position. It said ID not found. Terrible experience.
1 trader has found this review helpful
Connecticut , USA,
Nov 25, 2023,
Registered user


Service use: Live Length of use: 0-3 Months
I just funded this broker with $200 on Tuesday. I tried to withdraw the same day because a financial hiccup came up and their trading platform is just terrible. So I withdraw the money and it’s gets rejected almost 72 hours for missing bitcoin address. Mind you, I don’t think the request could go through without you entering a btc address, so that is self explanatory. Hugosway is bullpoop and will delay you getting your funds. I will still do my best to get it and I’ll update this review once I get my funds back or if I don’t. But for now… DO NOT USE THIS PLATFORM.
2 traders have found this review helpful
Chicago , USA,
Nov 9, 2023,
Registered user

Can't make a withdrawal

Service use: Live Length of use: 3-6 Months
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.
1 trader has found this review helpful
Ohio, USA,
Jul 12, 2023,
Registered user


Service use: Live Length of use: 3-6 Months
I am a new trader but have had success growing accounts. I mainly stick to a few pairs and gold. I always enter a SL and TP when I enter trades as I have found the market does funny things when you walk away and come back to trade again. Today I entered a risky trade with gold. My account had about 250.00 and I thought what the heck. I entered the trade at 1934.1 with a SL of 1937.00 and a TP of 1915. The market reaction to news and the trade went in the opposite direction. No big deal, I have a SL and would be good to go plus the broker would close the account once the leverage was hit too. Some how Hugo’s platform closed the trade at 1942.44 and sent the account into the negative. First I have never seen this before and two Hugoway only communicates through email and online chat(what a Joke). There is no resolution and to be honest if this account busted I wouldn’t write this review but now I owe them a bunch of money before I can trade again. Not real happy with this platform or the customer service and lack of effort.
1 trader has found this review helpful
San Francisco, USA,
Apr 26, 2023,
Registered user

Hugosway server to MT4 response time is horrible

Service use: Demo Length of use: over 1 Year
I have a high-end laptop, AMD Ryzen 9 CPU, 64 GB RAM, 2 TB HHD with Gigabit Internet connection but whenever I load my MT4 that has only seven windows it takes forever to interact at all.

Often I have to close and reopen my MT4 with no response at all.

Whenever I reached out to their useless support department they always say reinstall MT4 but I keep my system and MT4 optimize.
1 trader has found this review helpful
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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:

And recent forums posts here: 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
  • 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?

HugosWay accepts deposit by Bitcoin and Bank Wire as well as by Visa and Mastercard credit and debit cards.


Where is HugosWay located?

The postal address for HugosWay is at Global Gateway 8, Rue de la Perle, Providence Mahe, Seychelles.


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.


Is HugosWay legal?

Although HugosWay is not regulated, many countries have no laws requiring regulation of forex brokers.