So hugosway is holding my money hostage. They must've read my honest and accurate reviews and decided to purposely make me go through hoops.
Even after I've given them everything they requested, it's now been over 2 weeks and my money hasn't reached my bank account.
What a sorry excuse for a broker.
Please avoid them if you like your hard earned money.
Jun 4, 2019 - 1 Star Last update for hugosway. 06/04/2019.
So I had an open trade with a trail stop in place. But as soon as the price hit, right before my eyes the candle changed shape, gapped and then I wasn't able to update the trade. Obvious price manipulation.
I opened a ticket with hugosway but they refused to refund me the losses even after admitting that THEY had server issues. This alone cost me 1800 dollars. They claim that if it's their fault they will refund you, but it's all a lie. This is a scam broker. They have convenient server issues all of the time and don't care about thier customers. They got off to a good start but quickly fell off. Stay away from this broker if you want to keep your money.
I have withdrawn all of my money. Goodbye hugosway.
Apr 5, 2019 - 1 Star So this is an updated review. This broker started off well so I had given them a 4 star review but now I see why there are so many recent bad reviews. Here are the things I've noticed:
1. Terrible slippage - Slippage is normal in trading but man is it bad with hugosway. When a trade hits your SL, there is plenty of slippage, but when it hits your take profit, they give the exact amount, no matter how fast the trade goes past it.
2. Server down - HW's servers go down frequently. During NFP today, they were down for a whole 3 hours which is ridiculous. If they manage to retain any customers after today, it will be a miracle. I personally missed out on about 5k thanks to this "hiccup."
3. Customer Service - I've noticed that they are very responsive but not necessarily very helpful. They give you scripted answers every time and tell you they are not trading experts.... wtf? Then why even be there?
4. We're about to find out today how good they are with withdrawals... I'm taking my 6-figure account out of there before any worst damage is done!
In summary, I no longer recommend hugosway. What a shame.
Feb 24, 2019 - 4 Stars I'm reading a lot of recent bad reviews for Hugosway, but I haven't had any issues yet. I've grown my account by over 70% in 1.5 months and haven't see anything shady from them.
I will mention that an inordinate amount of trades in the past week have gone 0.3- 0,5 pips (yes less than one pip) away from Take profit and then reversing, but this I attribute to bad luck. If more of this happens, then maybe I'll raise an eyebrow.
Other than this, Fast deposits/withdrawals and good options, decent spreads and 1:500 leverage, half pip commissions and great customer service via chat, this makes HW a top broker in my opinion. Haven't noticed anything shady like stop hunting or any other type of manipulation, but I've been winning so haven't looked too closely.
I just opened a decently large account with them, so I'll have more in the coming days/weeks. Hopefully they maintain this awesome track record.
Some recommendations for HW to get 5 stars: 1. Add more deposit/withdrawal options (i.e. CC). Although, I did do a wire and from submittal to money being in my account, it took 2 business days, which is awesome. 2. Offer free/paid VPS for those who want to use EA's or trade multiple accounts with trailing stop losses. I fall into the latter. 3. Consider increasing leverage. 4. No commission option. 5. I've been with good brokers that really fall off due to greed. Please keep up the good work and don't fall into the greed trap.