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?

About Hugosway
🗺️ Registered inSt. Vincent and the Grenadines
🗺️ Type of LicenseOffshore License
🛡️ Is Hugosway safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

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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19 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!

    • That’s what I’ve been experiencing and didn’t know why. I would lose 20 to 30 pip’s in the middle of a positive run and seem to lose more on the drawdown. Thank you for opening my eyes to this shady practice.

  7. I have been using Hugos for 18 months or so now and have found them to be a very good all-round broker. The main attraction for me was the crypto trading, as it has really good leverage and is open 24/7 (my previous broker was only open on the traditional market open days. I’m surprised to read some of the other reviews regarding spreads, etc. Yes, you can find tighter spreads, but then you sacrifice the other benefits such as the leverage, etc. A pip or two here and there doesn’t matter unless you are a scalper, I think they don’t understand that spreads can increase dramatically at times of low liquidity (i.e. when the largest markets are closed), this is the same with any ECN and entering trades at these hours is best avoided.
    The other thing I’ve been getting into a lot more lately too is the stocks. It’s so good being able to trade them on the same account (or sub-account).
    As for the customer service, I have always found it to be prompt, friendly and useful.
    Happy I chose them!

  8. I mouth full of comments here to think about. Just to think that there is no way of verifying ANY of the comments here. I can be a representative for the company (Hugos) and post pretty things to make the company look good, but in the end all this is food for thought. As the saying goes, “buyer be ware !” I wish everyone a great experience with who ever they choose. The best way i can sum this up is by saying “RISK vs REWARD”

    Cheers Mates !

    Auzzie Dollar ;+)

  9. I found them to be generally reliable tbh, a lot of people say that unregulated brokers will take your money but they seem to have operated fairly for the year I have been with them and always processed withdrawals promptly etc.

  10. I have been using Hugosway for at well over a year now . I find these guys quite good overall .
    I’m a big Crypto fan and they have this down to a T . I’m often too busy during week days so weekend trading is a big plus for me .
    Withdrawals are fast often within a few hours, customer support was good for one server issue I had .
    No complaints from me .

  11. I’m with them for an year and a half already. For this time i didn’t have any issues. Absolutely agree with some others opinions about their support. It’s very responsive and professional. Deposits and withdraws are one of the fastest i’ve ever had. Think that some of the negative comments are just from traders which don’t know what are they doing in the trading at all and others are just haters. As i said all’s fine for me for that time i’m using them.

  12. They have been a really good broker for the approximate 2 years I have been with them. Theur support team is really helpful and act quite quickly. Deposit and withdrawals are quick and I hav had an overall very good experience with them.

  13. Hmmm not really sure about the negative comments. Been with them for about 2 years on and off, friend first introduced me to them. So far withdrawl/deposit have been very fast, and like everyone says, the customer support is pretty good. But just a remember that they are offshore broker, so they do have the power to manipulate your account and place unwanted trades and even just delete your acc and say “bye! we dont know you/we never knew you”

  14. Surprised by this, Hugosway enabled me to get started in Forex, well over a year ago now and never had any issues with them being off shore.
    They enabled me to get started with a low deposit and 1:500 leverage.
    Don’t think you can tar all unregulated brokers with the same brush.

  15. Been with them for a while now and seem a perfectly average broker. They do what they say on the tin and thats why i use them. It’s their cryto offer and trading leverage that got me using them and as long as they keep doing as they advertise then will be fine to continue.

  16. Ive used them quite a lot and i haven’t had any issues. Withdrawal speeds are good and spreads are decent. cant really ask for much more.

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