Hugosway Review present by 55brokers and other brokers reviews, Before signing an account you should always check on broker reliability and compare its trading offering. 

What’s Hugosway broker?

  • Company name: Hugo’s Way Limited
  • Registration/license: Seychelles

Is Hugo’s Way a scam or legit broker?

No, Hugo’s Way broker is not safe to trade with it . Hugo’s Way is own by Hugo’s Way Limited which is an offshore company registered in Seychelles.

Seychelles is notorious for its easy process of financial or investment firm establishment, through a very low list of requirements, small budgets and what is more crucial with no strict overseeing of the brokers’ operation or history. Therefore, it became an offshore zone for shady forex brokers such as FXLinked, UKFinvest and more.

Hugo’s Way offers forex currency pairs, indices, commodities and stocks and also cryptocurrency trading. It claims to offer a new level of trading and is able to offer market-leading pricing and trading conditions.

hugosway reviews from 55 brokers.com
According to the broker’s website, the company is going through the process of applying for a license, however, for now, it remains unregulated. As proof, the website states that Hugo’s Way is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

We advise all investors and traders to avoid Hugo’s Way and other brokers from Seychelles. Generally, all the traders are advised to avoid unregulated/offshore brokers as there is a huge risk of losing money with such firms. Instead, choose those that are regulated with reliable regulator agencies. Traders should invest with brokers in Australia and reliable brokers such as FP Markets.

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Lee Baxter From Hong Kong | | Monday, June 1, 2020

Ive been with hugosway for over a year now, i honestly dont have a problem with their service whatsoever. Their spreads are competitive and the platform performs quick enough for me and i do often scalp. I deposit in Bitcoin and withdraw in bitcoin also which makes the process so much faster than any other broker ive been with. Theres a certain satisfaction of requesting a withdrawal and receiving it the same day. I would recommend

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8 responses to “Hugosway”

  1. Been with Hugos for around a year, the only positive point I could find is their support. Very reponsive, they have weird opening hours if you trade WTI and some commodities, stupid high spread but that didn’t bother me that much since I do swing trades. You will get a ”market closed” or ”invalid” when theres a lot of volatility in the markets which makes you unable to place trades.

    I used BTC to fund my account because it didn’t require any KYC (I like BTC because of its privacy aspect) When I asked a withdrawal because I am leaving their broker they made me take a selfie of me while holding an ID while holding a piece of paper where I had instructions of putting date/withdrawal amount/signature, they tell you it’s for ”safety purpose” Keep in mind that the only info they had was my name and phone number, for me this is total bullshit (I had an authenticator and been using the same IP/IPS since the opening of this account a year ago)

    They don’t know how to do business, if a customer wants to leave just give him his money, because of this I will not recommend this broker to any of my friends+ will tell my close people to move over to vantagefx because they now offer BTC funding/withdrawal, better spread, more instruments..everything better basically except if you’re a 100+ lot trader. I will take 2 hours of my time posting this comment on every possible review website.

    If you read this hugosway, consider paying your customer the respect they deserve, reputation is everything in this game. Imagine how much customers will look for another broker after reading this comment, a unhappy customer can have a huge effect these days with all the medias and shit.

  2. 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.

  3. I have to disagree with a lot of what was said; I have been a client of this broker for well over 12 months and I actually have never encountered any issues with my trades as such asides from one issue which I did not fully identify as slippage at first until the trading desk explained and analyzed for me what I did not fully understand. all resolved. I am also very impressed with their spreads, low commissions, and decent leverage which is a combo not all that common in brokers nowadays.

    Hats off also to the fast withdrawals- 2/3 hours?! yes please! I’ve been with other brokers that take days, even up to a full working week which is not ideal.

    Overall a decent broker, I would say, personally speaking not had any issues so can’t complain.

  4. Would not recommend Hugosway I have had two great trades deleted from my account after they were closed and I guess if you have a good trade and make some money they can take it away. Dave

  5. I’ve used these guys for a good while now since I started trading live in the markets and have to say I’ve not had the issues listed above and they surprise me. Withdrawals have always been quick when doing BTC withdrawals and I’ve never been asked for photo ID or anything.

    On the few times I have required any help the chat service were very helpful and quick to resolve my issue. Find the trading conditions great to use with decent spreads and rates. I’ve never been given cause to worry that I can’t withdraw and have removed my whole balance on a few occasions when I needed to. Overall a good experience for me and no complaints.

  6. Scammy broker, they will rob you of your money without any evidence of why your trade failed. They will blame it on fictional spreads that they make up on the fly 20+, 30+ pip spreads on major and minor pairs that are typically only a couple pips!! They will try to use these fake spread amounts to somehow justify them sucking hundreds out of your account instantaneously!! Stay away from this broker if you care about your money!

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