HugosWay Review

2.937 · 117 REVIEWS

Hugo's Way

Updated: Oct 29, 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: 2017
Address: Global Gateway 8, Rue de la Perle, Providence Mahe, Seychelles
Contact: support@hugosway.com
Regional offices:
Regulators:
Prohibited countries:
Trading platforms: MT4, WebTrader
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (55+)
Cryptocurrencies: (30+) Bitcoin, Litecoin
CFD: (125+) 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
Withdrawal Methods: Bank Wire, VISA, MasterCard, Bitcoin

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2.937 · 117 REVIEWS
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Traders Reviews

maui, USA,
Aug 26, 2018,
Registered user

best broker EVER

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 !
 
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
NY, USA,
Jun 23, 2018,
Registered user

Great Broker who can be trusted

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.
 
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
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
Derrick,
America, USA,
Jul 28, 2020,
Guest

Stay away from HUGO....

Service use: Live

Length of use: 0-3 Months

They will take your money, and then come with a stupid reason why. I was in a trade and my position was in profits then all of a sudden the spread increased and I was spotted out. I’ve traded with many companies and thought I would get Hugo a try, but now I wish that I did not open a account with them. I have never had that happen to me before.
  1 trader has found this review helpful
Reply by hugosway submitted Aug 4, 2020:
Hi Derrick. I was unable to locate your Hugo's Way profile based on the information provided in your review. At Hugo's Way, we understand the importance of clients having access to their funds, especially in today's current climate. As such, traders are free to withdraw funds at any time with withdrawals being processed within 24 hours. We are a true ECN/STP broker meaning that orders are filled by a pool of liquidity providers from Tier 1 financial institutions.

At any time a trader feels they have had a trade negatively impacted we encourage them to get in touch with us quoting the MT4 account number and trade ID of any trade negatively affected. From here, one of our dedicated trading professionals can conduct an investigation, create a report and feed their findings back to you with a view to reimburse you if indeed - your position was affected through no fault of your own.

Please contact us via our LiveChat service, arrange a call back request or email support@hugosway.com. We look forward to hearing from you and resolving this matter.
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.
USA,
Feb 11, 2019,
Registered user

Hugosway customer service is terrible they will not refund your funds even once mt4 platform freezes you have to wait and your account will go in the negative because you can't close it and they will not refund you your funds and this do to them updating mt4 and they do it quite often so if your account is active while they are updating mt4 they will not refund you your money because you cannot stop it in the system starts completely over maybe three hours or four hours before your trade starts so whatever chart you're on if you're on the hour chart it will go back 3 hours and start you over again
 
Reply by hugosway submitted Feb 13, 2019:
Hi Unique,

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
Bo Wang,
USA,
Apr 18, 2019,
Guest

Terrible broker. I have been with them for three weeks. Bad experience at server shut down and spread problems. Loss money always and you have no clear clue. You decide to switch to a new broker.
 
Sven,
NC, USA,
May 11, 2020,
Guest

Avoid at all costs

Service use: Live

Length of use: 0-3 Months

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.
  1 trader has found this review helpful
Reply by hugosway submitted Jun 9, 2020:
Hi Sven, thank you for providing us with feedback. Unfortunately you did not leave any account details so we are unable to comment on your particular case. Please could you reach out to support again so we can resolve your issue however I am sure that you received your withdrawal. Please note that although support is 24/7, weekend support is limited which could be the reason why you experienced a delay in receiving your withdrawal.

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