Hugo’sway is good for someone who is a beginner trader with little capital who uses small position sizes and doesn’t hold their trades overnight. Let me tell you Their fees are ridiculous especially w... See more
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See what reviewers are saying
It's okay, still figuring things out Reactivated my account after a while away. New platform looks nice but I'm still learning where everything is. Deposit with ETH was fast enough, I'll give them tha... See more
I have been with hugosway since 2019, I have made several withdrawals and one as recent as yesterday, my only complaint is sometimes metatrader 4 will lag and price won’t update for a few minutes, for... See more
1 STAR, Becausde there are no MINUS ZERO STARS. Complete scam, after collecting all your personal info (illegal harvesting to pass on to criminals?), no equity in account. No more logging in to accou... See more
Company replied
Company details
Information provided by various external sources
Hugo's Way is a True ECN Forex Broker for professional traders. Trade Forex or Cryptos on Hugo's Way Forex Broker. Sign up to Hugo's Way Forex.
Contact info
Beachmont Business Centre, Suite 65, Kingstown, St. Vincent & Grenadines
- support@hugosway.com
- hugosway.com
2.5
Poor
224 reviews
Replied to 27% of negative reviews
Typically takes over 1 month to reply
How this company uses Trustpilot
See how their reviews and ratings are sourced, scored, and moderated.
They claim their accounts are ECN…
They claim their accounts are ECN meaning low/raw spread but spread are high as a Standard account and yet they still charge commission from your trades, thats one way of leeching into your account. This is my first broker I ever used when starting my forex business and it was recommended by a youtuber who is also a scamming pig but thats another story. I never withdrawn my money since I lost it from trading "newbie back in that day" so I cannot say much about withdrawals but in general they are not regulated so please use brokers like ICmarkets, Vantage, Tickmill, Pepperstone ect. they are all legit and regulated. Just stay away from Hugosway thanks.
December 16, 2022
Unprompted review
Reply from Hugo's Way
Good day Matthew,
Thank you for your feedback.
Kindly note, we were unable to locate an account under this name.
As an ECN broker, spreads offered are variable and thus, will fluctuate depending on market conditions and fundamental factors. We gently recommend regularly checking economic calendars and following global events, in order to be as aware of potential market conditions as possible.
Hugo’s Way charges a commission of $5.00 per lot traded. No hidden fees are charged, including for deposits and withdrawals.
If you feel a trade has not executed as intended, feel free to reach out to us and one of our trading specialists will investigate the trade in question.
You can reach us 24/7 via Live Chat, Email and Call-back request should you have any questions.
Take care,
Hugo’s Way Management
STAY FAR AWAY FROM HUGOSWAY!!
They claim to be available 24/7 but after they have your money in their possession and you attempt to email/call them, they will not respond BE WARNED. If you attempt to make a withdrawal with 2 factor authentication, they will still force you to PROVIDE AN EXPLANATION AS TO WHY you want to withdraw YOUR money, THEN TAKE a selfie photo next to your ID and a piece of paper handwriting your withdrawal request, then wait for an unknown period of time before having to run a marathon and climb Mount Everest practically while they contemplate giving you some or all of YOUR money back. BE WARNED- STAY AWAY FROM HUGOSWAY!
December 13, 2022
Unprompted review
Reply from Hugo's Way
Good day Daniel,
Thank you for your feedback.
We understand that due process can be frustrating however, the requests made before releasing funds to any natural persons must always meet global security standards.
Hugo’s Way takes pride in the reliability and security of our services and cannot compromise for any person. There are many advanced and technically challenging ways bad actors are able to commit fraud, any actions taken by Hugo’s Way to protect client funds are a necessary implementation based on experience and cannot be circumnavigated.
We hope you will reconsider doing business with us based on the above information.
Should you have any further questions whatsoever, you can reach us 24/7 via Live Chat, Email and Call-back request.
Take care,
Hugo’s Way Management
They stole money from my account
They stole money from my account.
I have been using Hugo's Way for several years without any issues, but around the middle of November, I spotted a few irregularities. I am careful to only leave a few k in the account at any point in time and I am anal about taking screenshots of balances and documenting trades.
I have two screenshots taken 10 minutes apart. One shows a balance of $2,280. The second one $1,280. A thousand dollars just disappeared with no explanation, no sign of anything. I went in to transfer $1,000 to my BitPay account, and it was gone.
I know what I am doing. I have been trading for 10 years, 2 of those using Hugo's Way and Metatrader. There are no traces of the $1,000 loss.
Support is not responsive.
I am not a big trader, but they have lost $3k a year in fees from this trader. Will never use them again.
December 1, 2022
Unprompted review
Reply from Hugo's Way
We're sorry to hear about this concerning experience. If $1,000 disappeared from your account without explanation, we'd like to investigate.
Please contact our support team with your account details and the screenshots you mentioned. We take these claims seriously and want to review what happened.
Sincerely,
The Hugo's Way Team
Took 3 days for a withdrawal
Took 3 days for a withdrawal, After three years of on time withdrawls,it now takes 48 hours to recieved the money I made.They also require a picture of my id and may respond much later than listed on their Customer service chat .
December 5, 2022
Unprompted review
Reply from Hugo's Way
Good day Joshua,
Thank you for your invaluable feedback.
While we aim to meet the designated time frames for each service, due to security and an ever-evolving industry with fraudulent players, these processes can get slightly delayed.
Please understand this is simply due to meeting all security practices and ensuring the funds are being withdrawn to the correct person and account. The extent to which we must go regarding withdrawals is due to the currencies we operate with and the associated risks involved. Such processes are in place to protect both the client and the company.
If you are having any communication difficulties, we offer various forms of 24/7 support through Live Chat, Email and Call-back request. Thank you for your continued loyalty to Hugo’s Way, your support is our success.
Take care,
Hugo’s Way Management
Please Stay Away I Was Up Big On US30 I…
Please Stay Away I Was Up Big On US30 I Let The Market Close Cause Im A Swing Trader They Charged Me $50 Swap Price Each Position I Had Took All The Money I Won …Bunch Of Scam Artist
November 29, 2022
Unprompted review
Reply from Hugo's Way
We're sorry about your experience with swap fees. Swap/overnight fees are standard in forex trading and are charged when positions are held overnight. The rates vary depending on the instrument and market conditions.
We understand this can be frustrating, especially when it significantly impacts profits. Our new WebTrader at trade.hugosway.com shows estimated swap fees before you trade so you can factor this into your strategy.
If you have questions about specific swap charges on your account, please contact our support team.
Sincerely,
The Hugo's Way Team
WARNING: DO NOT USE THEM
What a great feeling to have $100K locked up and can't withdraw while they beat around the bush and make you send KYC over & over but do NOTHING.
Another company with no liquidity about to go bankrupt holding everyones money.
November 27, 2022
Unprompted review
Reply from Hugo's Way
We're sorry about your withdrawal experience. KYC verification is a security requirement, but we understand repeated requests can be frustrating.
If you still have funds locked up, please contact our support team directly with your account details and reference this review. We'll prioritize reviewing your situation.
Sincerely,
The Hugo's Way Team
If you make money they steal it
Conclusion: they stole my money I made a profit of 150 bucks and they won't release it. "Your withdrawal for BTC 0.00878685 has been rejected because Kindly be informed that due to a lack of response to our e-mails, your withdrawal request has been rejected"
Years ago I could move money in and out. Now it's been over 36 hours on my withdrawal request and nothing has happened.
I'll update if they do release my btc
Update: been another 2 days still no btc
Update: 2 more days no payment
November 8, 2022
Unprompted review
Reply from Hugo's Way
Good day Trevor,
Thank you for your feedback.
Kindly note that that the withdrawal process must align with the anti-money laundering and anti-terrorism funding regulations and therefore, cannot be circumnavigated by any client whatsoever.
We gently encourage you to respond to the previously mentioned emails, in order to meet these requirements and successfully withdraw your funds.
Alternatively, reach out to us on our 24/7 customer support channels and one of our specialists will assist you promptly.
Thank you for your time.
Take care,
Hugo’s Way Management
Reply from Hugo's Way
Good day Walter,
Thank you for your feedback.
Please reach out to our 24/7 customer support so we may thoroughly investigate the potential issues you may be facing regarding your account that led to this review. We know we will be able to provide peace of mind and gently encourage you to give us another try.
Thank you for your time.
Take care,
Hugo’s Way Management
I have never had any issues
I have never had any issues. Been using them for 3 yrs.
November 10, 2022
Unprompted review
Hugo's Way prevented me from…
Hugo's Way prevented me from liquidating a profitable position, then, after the position became a loss, they liquidated the position and refused to reimburse me. You decide if Hugo's Way is fraudulent. I rate Hugo's Way ZERO stars!
November 4, 2022
Unprompted review
Reply from Hugo's Way
Good day Glen,
Thank you for your feedback.
Kindly note, in order to investigate and refund any trades, we require certain details regarding the trade ID and account ID. Through correspondence with you, we are able to see these details were requested multiple times but unfortunately you did not respond to these requests. Kindly reach out to our 24/7 customer support channels and provide the requested data so that the trade may be investigated and refunded, should that be the result of the investigation.
If you are having any communication difficulties, we offer various forms of support through Live Chat, Email and Call-back request. We are looking forward to resolving this for you.
Thank you for your time.
Take care,
Hugo’s Way Management
Failure to Respond
The following is a message I sent to Hugo's Way relative to my profitable trade position which couldn't be liquidated or adjusted. Hugo's Way failed to respond to such a crisis. "I have sent numerous messages that one of my spx500 positions can not be adjusted or liquidated! Price proceeded through my stop after being in profit! I have received no response! Since you are unregulated, my only recourse is to post a review on Trust Pilot, then close my account. You'll likely respond that my account can't be closed due to the open position!" Proceed with Hugo's Way at your own risk!
November 6, 2022
Unprompted review
Reply from Hugo's Way
Good day Glen,
Thank you for your feedback.
Kindly note, in order to investigate and refund any trades, we require certain details regarding the trade ID and account ID. Through correspondence with you, we are able to see these details were requested multiple times but unfortunately you did not respond to these requests. Kindly reach out to our 24/7 customer support channels and provide the requested data so that the trade may be investigated and refunded, should that be the result of the investigation.
If you are having any communication difficulties, we offer various forms of support through Live Chat, Email and Call-back request. We are looking forward to resolving this for you.
Thank you for your time.
Take care,
Hugo’s Way Management
I have been using Hugo’s way for a long…
I have been using Hugo’s way for a long time, it seems good and friendly, I have never had problems depositing and withdrawing it is almost immediate and I currently use them for my trading, I trust them, in fact, I think I have more than 1 year and I like it
November 6, 2022
Unprompted review
STAY AWAY!!
1 STAR, Becausde there are no MINUS ZERO STARS.
Complete scam, after collecting all your personal info (illegal harvesting to pass on to criminals?), no equity in account. No more logging in to account, no email on pw reset, Helpdesk chat OK: not possible to create from website (technical problems, unknown when solved?!?), no solution provided, canned answers, extreme slow servers. extreme high spreads, lol STAY AWAY FROM THIS SCAM!
November 5, 2022
Unprompted review
Reply from Hugo's Way
Good day ajk49,
Thank you for your feedback.
Please reach out to our 24/7 customer support so we may thoroughly investigate the technical issues you may be facing regarding your account.
Alternatively, if you feel you may have been misled by a copy website impersonating our platform in order to commit fraudulent activity, please do reach out to us and provide as much detail as possible regarding the copy website. Hugo’s Way may then attempt to have the fraudulent site removed and permanently deleted.
Thank you for your time.
Take care,
Hugo’s Way Management
This broker is 100% a scam!!
This broker is 100% a scam!!! They scam in anyway possible from price manipulation to profit shaving ! As you look at every review says the same thing … stay away pleaseeee !
October 4, 2022
Unprompted review
Reply from Hugo's Way
Good day Chris,
Thank you for your feedback.
Each broker uses different liquidity providers, which means that there will always be discrepancies between prices and spreads. It is redundant to make comparisons with other brokers as different factors will influence each liquidity providers numbers. Please keep in mind socio-economic events, planned or unexpected, can greatly affect prices in a short period of time as well.
If you are able to provide a trade ID to our 24/7 customer service team, we would be happy to carry out a thorough investigation of any trades you feel may not have executed accordingly as well as, explain where and when your trades were unsuccessful and why you were unable to achieve your desired results.
Thank you for your time.
Take care,
Hugo’s Way Management
PRICE MANIPULATION
I didn’t want to believe it, but it’s true! It’s a scam! I make my analysis and set my trades and before going to take profit it touches the stop loss and go straight to the target!! Every single time!! I had to compare with other brokers at that exact time and they definitely stretch the price! It’s frustrating making a great analysis and loosing everything because of this kind of fraudulent brokers! STAY AWAY!
September 8, 2022
Unprompted review
Reply from Hugo's Way
Good day Erika,
Thank you for your feedback.
Each broker uses different liquidity providers, which means that there will always be discrepancies between prices and spreads. It is redundant to make comparisons with other brokers as different factors will influence each liquidity providers numbers. Please keep in mind socio-economic events, planned or unexpected, can greatly affect prices in a short period of time as well.
If you are able to provide a trade ID to our 24/7 customer service team, we would be happy to carry out a thorough investigation of any trades you feel may not have executed accordingly however, our specialty trade department has reviewed your trading history as a whole and would be more than happy to explain where and when your trades were unsuccessful and why you were unable to achieve your desired results.
Thank you for your time.
Take care,
Hugo’s Way Management
SCAMS & Cons
IVE BEEN WITH HUGOS FOR ABOUT 5 years. My charts look nothing like others with other brokers! When you gain money they try their best to take it back! Worse worse worse!!! I thought it was just me but the more I trade the more I realize these people are cons!!!
August 11, 2022
Unprompted review
Reply from Hugo's Way
Good day Jay,
Thank you for your feedback.
Each broker uses different liquidity providers, which means that there will always be discrepancies between prices and spreads. It is redundant to make comparisons with other brokers as different factors will influence each liquidity providers numbers. Please keep in mind socio-economic events, planned or unexpected, can greatly affect prices in a short period of time as well.
If you are able to provide a trade ID to our 24/7 customer service team, we would be happy to carry out a thorough investigation of any trades you feel may not have executed accordingly.
Thank you for your time.
Take care,
Hugo’s Way Management
Hugosway recommended broker
Hugosway requests that you verify your identity to protect your funds when you withdraw, it is ok that they do that, and once done your payment comes out almost immediately.
August 6, 2022
Unprompted review
Unregulated Brokers
Today I entered a buy position on NZDCAD while using TradingView(viewing the charts)then on the MT4 time at (2:51pmEST)21:51:03(price was 0.80266entry with the stop loss at 0.80175)(3:00pmEST)22:00:01 is where my trade was canceled by stoploss at the price 0.79740for more than 50 pips, then me going over looking on the MT4 app with a huge spike that didn’t occur on the charting I was viewing on TradingView(OANDA Charting)nor either for OANDA on the mt4 app(a demo OANDA account), just with this broker that huge candle occurred which is so weird, I see why it’s best to trade with regulated brokers (and hugely suggested)instead of unregulated brokers for one of many reasons like this one.
Insane candlestick spike.
July 27, 2022
Unprompted review
Reply from Hugo's Way
Good day,
Thank you for your valuable feedback.
Since we are not listed on Trading View, it would not be possible to compare our quotes with what is seen via any other brokers shown on their platform. Each broker uses different liquidity providers, which means that there will always be discrepancies between prices and spreads.
2200 MT4 time (GMT+3) however, is well known to be a particularly volatile time for all NZD pairs, due to various global trade sessions opening and closing.
If you are able to provide a trade ID to our 24/7 customer service team, we would be happy to carry out a thorough investigation.
Thank you for your time.
Take care,
Hugo’s Way Management
SCAM.
I used Hugosway a couple years ago and I just want to remind people and emphasize, HUGOSWAY IS A SCAM. They changed the price of a currency I was trading by 10,000%!! Not a joke. It had an astronomical spike when I was constantly crushing it. Needless to say, that spike that ended up forcing a margin call and 0'd my account. They will get mad if you win. This broker is a scam.
July 21, 2022
Unprompted review
Reply from Hugo's Way
Good day,
Thank you kindly for your feedback. We receive all prices directly from our liquidity providers and do not manipulate prices. Should you wish to have a specific trade investigated, our trade desk would be happy to review this for you and offer a detailed dissection.
If you are able to provide a trade ID to our 24/7 customer service team, we would be happy to carry out a thorough investigation.
Thank you for your time.
Take care,
Hugo’s Way Management
I have been trading on Hugo’s way for…
I have been trading on Hugo’s way for some time. This will be the last. I am finally convinced that every time I enter a trade it goes the other way no matter what confirmation I have. I then close out my trade in the negative for it to start going back in the trade I initially went into. Stay away! They bet against your trades.
June 3, 2022
Unprompted review
Reply from Hugo's Way
Dear Anthony,
Thank you for your feedback, we have taken the time to investigate the issues you have raised.
We gently remind you that spreads are determined by the market conditions at the time of trading and any spreads that may be wider than expected could be a result of volatile market movements, mostly due to significant environmental and political factors currently seen on the news. Also, kindly note, per our regulations that you agreed to upon signing up, If you reach below 70% Margin, A Stop Out will occur at which MT4 will start to close the client’s open positions one by one to prevent further losses that lead to negative balance (below 0 USD). This is an automated system in place to protect both the client and the broker from losses.
We offer 24/7 customer support via chat, email and call-back requests. Please contact us at your earliest convenience.
Thank you and wishing you all the best,
Hugo's Way Management
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