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

2.917 · 137 REVIEWS

Hugo's Way

Updated: Jul 28, 2022 · HugosWay.com  · Is this your company?

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.
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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.

HugosWay

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum Deposit: $10
Established: 2018
Address: Beachmont Business Centre, Suite 65, Kingstown, St. Vincent and the Grenadines, Saint Vincent And Grenadines
Customer Service: support@hugosway.com
Regional offices:
Regulations:
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 Spike Trading: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

Deposit Methods: Bank Wire (Bank Transfer), VISA, MasterCard, Bitcoin, VLoad
Withdrawal Methods: Bank Wire (Bank Transfer), Bitcoin, VLoad

Live discussion

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2.917 · 137 REVIEWS
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Traders Reviews

Victor Szybisty,
Yonkers, NY, USA,
Oct 19, 2018,
Guest

Amazing broker with the best Customer Support!

From my personal experience it’s one of the best brokers I have used to date. All around as some people may have mentioned there is limited deposit methods but in reality it’s actually more than needed and the company makes it in expensive to fund via Bitcoin as they fund you the coinbase or purchase fees when buying bitcoin after just sending them the receipt of your purchase so it’s inexpensive.

The customer service is the best experience I have received their response time is impeccable and always resolve every issue you have or may have without looking at you just like another number in their books.

All around I give the broker a 5 star rating cause they have never disappointed me and resolve/ help with any issues I have. The company must be operated by a trader/former trader because honestly it’s the most user friendly site you could ever use!
 
Reply by hugosway submitted Feb 13, 2019:
Thank you Victor
Jordan,
Texas, USA,
Oct 24, 2018,
Guest

Hugo’s Way is hands down, the best broker. I have been with them for a few months and haven’t had any issues. Any questions that I had were answered in a timely manner by amazing customer service. I highly recommend trying this broker if you haven’t. You won’t be dissapointed.
 
Reply by hugosway submitted Feb 13, 2019:
Thank you Jordan
Aldin,
USA, USA,
Nov 27, 2018,
Guest

Was not able to act on my trade (close, stop loss, take profit)

Hugosway started off very good for me, but then started to have glitches In their system. Multiple times I was not able to control, and maneuver my trade. I had clear evidence showing that I was not able to (close my trade, put a stop loss, or a take profit), I sent this to them and they basically sent me a video on how to trade? I have never had problems with hugosway, but keep in mind they are not regulated and they will take your money on there glitches... I watched a trade go negative 1,000 dollars, and was not able to do anything but watch it go up, as their system was basically frozen.

Trust me, be very careful of trading with them.. I was a new trader, and didn't know better. Shop around for real brokers, and avoid getting scammed...
 
Reply by hugosway submitted Feb 13, 2019:
Hi Aldin,

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
Aaron,
Uk, United Kingdom,
Dec 18, 2018,
Guest

5 stars all the way!

My experience with Hugosway has been excellent, Support are on point any questions i have they help me 24x7, Deposits and withdraws all done in a few hours max. I've never had a trading issue and the money hits my bank or bitcoin wallet the next day.

5 Stars all the way for Hugo's Way
 
Reply by hugosway submitted Feb 13, 2019:
Thank you Aaron
Tonymac Perez,
El Paso, Texas, USA,
Dec 18, 2018,
Guest

Great broker and customer service

I’ve been using Hugosway as my broker for about 6 months or so. Deposits are super fast (especially with zelle and crypto) withdrawals take about 24-48 hours. In one occasion I received a call to verify it was me requesting the withdrawal and the customer service is spot on.
 
Reply by hugosway submitted Feb 13, 2019:
Thank you Tonymac

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