HugosWay Review

2.918 · 121 REVIEWS

Hugo's Way

Updated: Nov 16, 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: 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

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2.918 · 121 REVIEWS
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Traders Reviews

New Jersey, USA,
Dec 18, 2018,
Registered user

Hugosway is exceptional!

I’ve been using Hugosway for about 6 months now and I must say that they have been EXCEPTIONAL all around. Spreads are tight, deposit/withdrawals have been super easy and quick, but most importantly the support team behind the scenes have been super helpful whenever I had a question. I highly Recommend anyone looking for a secure trusted broker to use Hugosway.
 
Reply by hugosway submitted Feb 13, 2019:
Thank you TLiriano
Texas, USA,
Dec 19, 2018,
Registered user

Hugo’s Way is hands down, the best broker. I have used several others, but have been with Hugo’s way for several months now. I had one issue due to server issues. I emailed support and they refunded me right away without any questions asked. I had issues with other brokers and they told me I was out of luck. There is truly not a better broker out there. I see some negative reviews, but they seem like they are from uneducated people. Try them out and see for yourself!
 
Reply by hugosway submitted Feb 13, 2019:
Thank you Jordan P,
buckeye, USA,
Dec 19, 2018,
Registered user

Hugosway s a scam Broker... not only are they the only broker I have seen that has random gaps in their charts throughout the day, your limits and stops will not activate even if the candle goes well into the zone. they have terrible customer support, my phone was stolen and somebody was actively placing random trades while I was trying to stop it on the support chat. and I ended up losing around 700 dollars, and hugosway basically told me too bad sucks to be you. I mean there was a lot of evidence that It was not me placing the trades, and they wont help at all. if you deposit through zelle you cannot withdraw through BTC unless you wire transfer out the same amount you zelled in first.. DO NOT USE HUGOSWAY SAVE YOURSELF THE MONEY and use a real broker
 
Reply by hugosway submitted Feb 13, 2019:
Hi Kenneth_Knight,

I have tried to find your name in the system but cannot, What you have stated is untrue at Hugo's way our policy is if there is every a technical error we will always refund the client to break even or honor their take profit which ever is more beneficial to the client.

Sometimes technical errors happen, sometimes its our server problem and sometimes its an external liquidity provider such as Bitfinex, its unfortunate and unavoidable but what sets us apart is how we resolve these issues for our clients after the fact.

With regards to someone stealing your phone and placing trades, Yes you are right there is nothing we can do about this, its is ultimately the traders responsibility to ensure his logins and passwords are not compromised, We are a True ECN and as such all trades go to the market we cannot recall them or cancel them if your phone is stolen. Its very unfortunate that this happened.

With regards to withdrawing to BTC you are free to do so once you close the loop on your deposits, all deposits must be returned the same way as it comes in this is not a silly rule Hugo’s Way have this is the industry standard and falls in line with anti-Money laundering international laws which we must adhere to.

I would be happy to personally review any issues you had if you can email me robert@hugosway.com
USA,
Dec 30, 2018,
Registered user

Hugo's way is an exceptional broker. I've been with them for 1 year. Their customer service is amazing . They have live chat 24/7 and they will respond in less than a minute and are super efficient. Never had the a problem with them and will recommended to anybody. 10/10
 
Reply by hugosway submitted Feb 13, 2019:
Thank you Okofx.
Jewel Thomas,
GA, USA,
Jan 7, 2019,
Guest

GREAT BROKER!

Hugo’s Way is GREAT! Fast deposit and withdrawals and I can tell they value good customer service. Any issues I’ve had they worked to take care of and answered all my questions within 3 mins! Been using them for 6 months! I’m highly satisfied and lucky! They even allow ripple trading
 
Reply by hugosway submitted Feb 13, 2019:
Thank you Jewel Thomas.


USA,
Jan 10, 2019,
Registered user

I CANNOT BELIEVE THIS I CANNOT CLOSE MY CRYPTO TRADE RIGHT NOW ALL I CAN DO IS SIT HERE HELPLESSLY AS THE TRADE TRAVELS WAY PAST MY STOP LOSS AND NOW IM DOUBLE DOWN IN DRWADOWN THAN WHAT I INTENDED TO RISK AND I CANTDO NOTHING ABOUT IT NO CHAT ONLINE RESPONDING TO ME NOTHING THERE WAS NOT ANY EMIAL NOTICE SENT OUT ABOUT ANY PLANNED OUTAGES FOR CRYTO TRADING ON 1/9/2019 SO WHAT AM I TO DO NOW JUST SIT HERE AND WATCH MY ACCOOUNT BLOW UP? ARE YOU KIDDING ME. HOW WAS I ABLE TO OPEN THE TRADE BUT MY STOP LOSS WASNT ACTIVATED NOR CAN I MANUALLY CLOSE IT? I CANT BELIEV THIS MAN I LOST FOR WORDS RIGHT NOW THEY BEEN A GOOD BROKER NEVER HAD ANY PROBLEMS UNTIL NOW AND THIS IS EXTREME I WANNA JUMP OFF A CLIFF OR SOMETHING RIGHT NOW WTF IM SO MAD
 
Reply by hugosway submitted Feb 13, 2019:
Hi MArketmurderer,

I have tried to find your name in the system but cannot, What you have stated is untrue at Hugo's way our policy is if there is every a technical error we will always refund the client to break even or honor their take profit which ever is more beneficial to the client.

Sometimes technical errors happen, sometimes its our server problem and sometimes its an external liquidity provider such as Bitfinex, its unfortunate and unavoidable but what sets us apart is how we resolve these issues for our clients after the fact.

I would be happy to personally review any issues you had if you can email me robert@hugosway.com
Montreal, Canada,
Jan 10, 2019,
Registered user

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.
 
Reply by hugosway submitted Feb 13, 2019:
Hi Jpdlegault,

This was true for your region at the time, we have multiple deposit and withdraw methods depending on clients locations, we are constantly adding more so please do check back with us every now and then. I believe for your location now there is Cards and Bitcoin and Wires available.

We are also adding CAD trading accounts very soon

I would be happy to personally review any issues you had if you can email me robert@hugosway.com
Max,
Neil, USA,
Jan 24, 2019,
Guest

They don’t care about you

Boink hugosway. I’m done with this scam broker. Like other reviewers are saying, they will gap spread against you. This happens every day after NY close, some days are exceptionally worse. For instance, today the spread was 60 on U/C at NY close. This isnrollover for the banks so spreads get wider, but This is just unacceptable. Bye bye
 
Reply by hugosway submitted Feb 13, 2019:
Hi Max,

I have tried to find your name in the system but cannot, Our pricing is provided by streaming liquidity providers Bids and Asks and depth of volumes together to provide MT4 with a BID and ASK price and the difference is spread.

A lot of traders don’t understand that a sell trade uses the ASK price and not the BID price and a candle in MT4 only every shows the BID Price and not the ask price. You can turn the ask price on your chart by setting it on the chart properties.

Sometimes generally at 5pm EST spreads can widen either on the Bid or the ask side this is due to rollover when a lot of LP's actually close for 5 minutes and swaps get applied and interbank settle the daily positions. this can cause the spreads to widen sometimes but a little sometimes by a lot.

We are a true ECN and as such we have no plugins or tools to manipulate anything this is the raw pricing feed from our aggregated liquidity pool. Being a True ECN we do not profit or lose from clients losses or profits and as such we have no motivation for you to lose, we would actually prefer you win which means you will trade more and we will earn more from the trade commissions.

Hugo's way our policy is if there is ever a technical error we will always refund the client to break even or honor their take profit which ever is more beneficial to the client.

Sometimes technical errors happen, sometimes its our server problem and sometimes its an external liquidity provider such as Bitfinex, its unfortunate and unavoidable but what sets us apart is how we resolve these issues for our clients after the fact.

I would be happy to personally review any issues you had if you can email me robert@hugosway.com
Angelo,
California, USA,
Feb 6, 2019,
Guest

Stay away if you wanna win

Manipulative broker to the max.. occasionally on 3 separate pairs it breached data and manipulated 200 pips and always hit my SL. I didn't catch on what was going on until I compared live market data with other brokers and tradingview...
Stay away from hugosway, the name itself sounds dishonest.
 
Reply by hugosway submitted Feb 13, 2019:
Hi Angelo,

I have tried to find your name in the system but cannot, What you have stated is untrue and there is not one price for forex, when your looking at trading view you are looking at another brokers pricing not ours, pricing is provided by streaming liquidity providers Bids and Asks and depth of volumes together to provide MT4 with a BID and ASK price and the difference is spread. A lot of new traders don’t understand that a sell trade uses the ASK price and not the BID price and a candle in MT4 only every shows the BID Price and not the ask price. You can turn the ask price on your chart by setting it on the chart properties.

Sometimes generally at 5pm EST spreads can widen either on the Bid or the ask side this is due to rollover when a lot of LP's actually close for 5 minutes and swaps get applied and interbank settle the daily positions. this can cause the spreads to widen sometimes but a little sometimes by a lot.

We are a true ECN and as such we have no plugins or tools to manipulate anything this is the raw pricing feed from our aggregated liquidity pool. Being a True ECN we do not profit or lose from clients losses or profits and as such we have no motivation for you to lose, we would actually prefer you win which means you will trade more and we will earn more from the trade commissions.

Trading view does not show the ask price and only shows the Bid price so your not getting a full picture by only using that feed.

Hugo's way our policy is if there is ever a technical error we will always refund the client to break even or honor their take profit which ever is more beneficial to the client.

Sometimes technical errors happen, sometimes its our server problem and sometimes its an external liquidity provider such as Bitfinex, its unfortunate and unavoidable but what sets us apart is how we resolve these issues for our clients after the fact.

I would be happy to personally review any issues you had if you can email me robert@hugosway.com
USA,
Feb 11, 2019,
Registered user

Hugosqay claims to be a true ecm and theres no way they mankpulaye. That excuse only works for them the liquidity providers do it for them. My lmfx account never did that. But inpulled my money from lmfx because of how hard it is to get my money. None of these off shore brokers are safe unless it is a us broker and the 2 options we have are hardcore scammers too. So im done trading forex sucks cause i am very good and took a long time to learn it onlh to have to quite do to all brokers bekng scammers. Hugo was my last try. The charts are always glitched tonight i got on and it was showing it only 6 candles in since open at 5 est. Considering it was 145 qhen i contacted support that was way off. They admitted it then got frustrated and ended the conversation qhen they could not figure it out. They will take deposit through zelle oes thru instantly but to get your money its only ach with big fee or bitcoin what a crock. And the email and name they have you use to send it is in some guys personal name and email tonallrove it and add it that alone should have sent up rwd flags to me and the world. Stay away from hugosway actually stay away from akl brokers the name broke in broker says it all. If they are not in the United states on our soil where laws hold them accountable they are shady and the 2 qe have here are completely shady as well its still the ole boys club to them and outsiders dont belong. So until we get real brokers in the us that are legit im done trading. Save your money or let then steel it cause that is exactl what will happen or end up chasing your ass for a month and a half for it to come ach bad business

Dec 17, 2018 - 1 Star Hugo sells your entry and stop loss to the banks just like every other broker. Ive seen it happen several times with them now. Amd auppose to have 500:1 leverage yet they dont give you that. Of course i would never use max leverage. I am leaning to them being a scam broker now 100% they are not regulated. The way to send money is through zelle which is great except its in some guys name under a travel agency if that doesnt say scam I dont know what does. And they only offer mt4 and why is that because they use the mt4 plug in to manipluate it and go back and fix it later i have caught then doing that thank god i wasnt in that trade but many in my company was. If you dont know about the mt4 plug in go watch a broner who shows what it is and how they use it and does it live to people. Any legit broker would be offering ctrader or at least mt5 that no scam plug ins can be used on to manipulate it. And the broker that is warning everyone even explained how they are trained ro say oh that was a stop out or slippage as if we are stupid and haven't been trading probably longer than them. Ill stick with lmfx it may take a few days to a week to get my money but at least they arent scamming people. And good luck trying to get money sent back to your account with zelle fron hugo it wont happen. Do not use hugo total scam broker. Its time our government do something about these crooks steeling peoples money frankly the loser thiefs doing it need minimum thrown in priaon for 20years minimum.
 
Reply by hugosway submitted Feb 13, 2019:
Hi Jaiden,

I have tried to find your name in the system but cannot, What you have stated is untrue at Hugo's way our policy is if there is every a technical error we will always refund the client to break even or honor their take profit which ever is more beneficial to the client.

Sometimes technical errors happen, sometimes its our server problem and sometimes its an external liquidity provider such as Bitfinex, its unfortunate and unavoidable but what sets us apart is how we resolve these issues for our clients after the fact.

I would be happy to personally review any issues you had if you can email me robert@hugosway.com

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