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.
How could you flag someone’s account?
How could you flag someone’s account?
Without seeing any activity of fraud or any suspicious transactions?
2 June 2021
Unprompted review
Reply from Hugo's Way
Hi Adeogun Emmanuel,
Unfortunately we were not able to look into your account, as we did not locate any accounts based on your name. You can send us your email address used to open the account should you wish for us to locate it and look into your issue.
While we do not flag accounts for no reason, we do reserve the right to flag an account if we notice suspicious activity taking place, such as someone trying to hack an account. This is done to protect the account holder from any harm.
Please contact our customer support team for further assistance, they are available 24/7 through live chat, email or by requesting a call back.
Best wishes,
The Hugo’s Way Team.
I’ve been liking Hugosway so far
I’ve been liking Hugosway so far, found them to be pretty reliable. I first started using them around a year ago as I wanted to trade some crypto’s and they looked to have plenty of pairs and decent leverage.
I’ve also been trading forex pairs with them as well as the spreads with them have been quite reasonable. I gave there webtrader a go and found the executions on that to be quick so that’s a nice addition to the site of you can’t access MT4.
I’ve not encountered any problems while using this broker and think I’ll continue to use them unless anything changes.
27 May 2021
Unprompted review
I’ve been trading with hugosway for a…
I’ve been trading with hugosway for a year now and I’ve said time and time again when I have the perfect set up it always seem to hit my stop loss and go the way I was expecting it to go. I understand they are the market makers but when I place a trade and my tp gets hit but I don’t get my profits I have a serious problem with that. Not the first time this has happened but will be my last searching for a new broker now
18 May 2021
Unprompted review
Reply from Hugo's Way
Hi Gary,
The Hugo's Way customer support team is available 24/7 to assist traders with issues such as yours. We cannot locate any previous communication between you and our team, however we greatly encourage this in order to assist you immediately.
Please get in touch with our support team by providing your trade ID and live account login number in order for our team to investigate your issue.
Thanks,
The Hugo’s Way Team
Your stop loss with magically get hit everytime
At first I'm like maybe it's me. But I'm almost certain they are manipulating it somehow My stop loss always gets taken out right before it shoots to my target and I know how to set a stop loss...it's like I do better without a one I don't know something is off about this broker and I'm sick of it switching to a new one my fault they are not regulated anyways
17 May 2021
Unprompted review
Reply from Hugo's Way
Hi Cade,
The closing of buy orders are triggered by the bid price so you will see the chart line hitting the Stop Loss. While the closing of sell orders are triggered by the ask price, which is not visible by default. That is why stop losses of sell orders may occur on prices not seen on the chart. The Ask Line can be enabled by right-clicking on the chart and opening Properties within the MT4 platform.
Since you have only provided your name and not your email address, we were unable to locate your account to investigate your query further. Should you require any more information you can get in touch with a member of our 24/7customer support team through Live Chat, callback request or email.
Thank you,
The Hugo’s Way Team
Keep searching for a broker.
This review is based off my trading style as a intraday trader.. I really wanted this broker to work out. I was referred to by a friend. The customer service is ok. They’re quick to respond. Spreads are ok although I’ve seen better and the fees are ok as well. I’ve been with them for a few months now and I believe that their prices are manipulated. I use Trading View for my analysis and MT4 to place orders. I use Oanda’s price charts because I find them to be most accurate but when compared to Hugo’s Way prices, Hugo’s prices are different. By a lot. Check out they’re demo and compare to your chart in trading view. Now trying to find a chart with prices similar to Hugo’s way is a mission in itself. There has been MULTIPLE times where I place limit/stop orders where I’ve seen price clearly went to my entry point and did not get triggered. And yes I took they’re spread into consideration. With the last buy limit order that I placed, price went below my entry point by about 35 pips and did not get triggered. When I checked their spread for that pair it was between 15-20 pips. It might have been more with volatility but I’ve seen go to about 25-28 pips during volatile times. I like to think I’m getting real good with sniper entries because it happened to me several times, it makes me feel better about these situations. I wish I had the option to post photos here and prove to you. I would not recommend this broker unless MAYBE if you’re a scalper which is not my style.
Hugo’s way: you like to respond to these reviews saying you can’t find our info in your system as if the reviews are fake but you can search me up. Email me any questions for validity you need. I have screen shots.
13 May 2021
Unprompted review
Reply from Hugo's Way
Hi Freddy,
We do not advise using different brokers/viewing platforms for your trade analysis as the prices of these platforms will not match those from our server as they do not use the same liquidity providers. The price for each instrument depends on the liquidity provider as such there will always be slight variations in pricing.
With regards to the market price dropping below your requested entry price, this is due to the spread as the ask price is required to open a long trade. If the volatility is high it can result in a wider spread. Volatility can increase significantly due to the news cycle or when the market has just opened or is preparing to close.
Should you require any further information we kindly ask that you get in touch with a member of our 24/7 support team via Live Chat or email.
Best regards,
The Hugo's Way Team.
Super transparent and easy to use
Super transparent and easy to use. Never had a single withdrawal problem or deposit problem. Spreads are decent but as an overall broker not bad at all.
3 May 2021
Unprompted review
I really enjoy using Hugosway
I really enjoy using Hugosway. I just have been experiencing some major glitches. Twice, I'll see my trades on the screen when I go to try to close one of my trades, it shows I'm closing a certain one, but then closes another that wasn't the one I was closing. It first happened on April 23, 2021 and again just right now April 30, 2021. After it happened to me the first time, I made sure I was triple checking what I was closing. It did it again, and I am 120% sure what I was doing. I've been trading for 3 years and executed thousands of trades. I was told there were no glitches. However, this is beyond. Has anyone else experienced this?
30 April 2021
Unprompted review
Reply from Hugo's Way
Hi Annette,
We kindly ask you to get in touch with our customer support team, including your email address in your message, so that we may look into your trade history.
As an ECN/STP Broker, we use straight-through processing for all client orders, meaning there is no middleman controlling your trades.
Our customer support team is available 24/7 via web chat, email or by requesting a call-back.
Kind Regards,
The Hugo’s Way Team
Less than 1 star
Less than 1 star. Constant manipulation of the market prices. I really thought it was just me that could see how they moved positions but obviously it must be a routine thing. Take profit positions not being filled. Difficult to withdraw. Purposely disconnecting the server during market hours. The slowest server in the world if you’re in a large profit trade. It would take 45 seconds for my trade to close which meant a loss of $4,356. Stay away from the manipulation. They allow you to have what they want.
18 April 2021
Unprompted review
Reply from Hugo's Way
Hi AF,
I was unable to locate your account based on the information you provided. Please note that we operate as a fully transparent ECN/STP Broker, and all orders are executed using Straight Through Processing to exclude the possibility of any third-party interference. We offer fast withdrawal options and our team reviews all requests within 24 hours. We also inform traders of any scheduled downtime required for server optimisation prior to this taking place.
If you wish, you may address your query with one of our dedicated trading professionals and they will investigate this for you. Once an investigation has taken place, they will contact you with a report of exactly what happened. Please get in touch with us quoting your MT4 account number and the trade ID. Our support team is available 24/7 via LiveChat, email or call back request.
Best regards & Warmest Wishes,
The Hugo's Way Team.
Horrible horrible customer service and…
Horrible horrible customer service and impossible to withdraw your money
14 April 2021
Unprompted review
Reply from Hugo's Way
Hi Justin,
The Hugo’s Way customer support team is available 24/7 to help traders with any queries they encounter while using our services. We cannot locate any previous communication between you and our team since you have not provided your email address, however we assure you that our customer support agents are highly helpful and friendly at all times.
With regards to withdrawing, we offer same-day Bitcoin withdrawals meaning that all requests are processed within 24 hours. Once approved, the time taken for the funds to land on your account will depend on the speed of the blockchain, which you can follow at www.blockchain.com
Kind Regards,
The Hugo’s Way Team
Manipulation, spread traps, stop loss program.
Convinced there is market manipulation occurring after years of research.
Absolutely terrible spreads.
Limited deposit options.
Horrible withdrawal options.
Market timing off and not aligned with the rest of the worlds they should change their server times seeing as they do scheduled maintenance so often.
Customer service is terrible.
Leverage is the only thing they have going for them.
Surprised people haven’t sued this broker yet. Additionally, manipulate spreads to target people’s stoplosses and avoid take profits.
Their “liquidity provider” that they do often quote in response to these comments is none other than themselves because they don’t take trades to the interbank market.
Absolute trash of a broker. Wish it was somewhere where someone could sue them because in all honesty, they are the worst broker I have worked with in my 8+ years.
14 April 2021
Unprompted review
Reply from Hugo's Way
Hi Shah,
Hugo’s Way is an ECN/STP broker, meaning all client trades are sent directly to external liquidity providers. This means that no trades may be altered on behalf of a client as our quotes are provided by them based on available rates at the time of trading.
Our withdrawal options ensure fast and efficient access to your funds at all times, as Bitcoin deposits are process within 24 hours. The time taken for funds to land in your account after being approved depend on blockchain traffic at the time of transaction. With regards to server maintenance, which is carried out to ensure the smooth running of the platform, our team always informs clients of scheduled downtime prior to it taking place.
Since you have only provided your name and not your email address, we are not able to locate your account to look into your query. Please do get in touch with a member of our customer support team, available 24/7, should you wish for us to investigate your concern further: https://hugosway.com/
Thank you,
The Hugo’s Way Team
Hugo's way is awful
Hugo's way is awful! Do not use them, their spread is huge and they charge a huge amount for withdrawals - I just paid $20! They are a waste of money and time
29 March 2021
Unprompted review
Reply from Hugo's Way
Hi Harrie,
As an ECN/STP broker, our spreads come directly from liquidity providers to ensure competitive spreads at all times. They may change according to levels of liquidity which may fluctuate during peak trading times, but any possibility of third party interference is eliminated.
We were not able to locate your account based on the information you provided and we kindly ask that you get in touch with a member of our 24/7 support team via chat, email or by requesting a call back should you ever have any questions.
Regards,
The Hugo’s Way Support Team.
OUTSTANDING!!
I have read the previous reviews and I believe everyone has their own experience to share.
As for myself. I have had no issues since being a part of Hugosway when they started back in 2017. Customer service has always been on point. I have had no problems with deposits or withdrawls. As a matter of fact I completed a withdrawl last week and just did another today, through Vload, which was my original method of deposits. I just withdrew $1600 today from my trading account. Outstanding customer service. If you want proof, you can email me at ctford238@gmail
26 March 2021
Unprompted review
Horrible customer service and trading experience on HUGO’S WAY
Horrible and shady brokers. Lost a lot of money on oil due to their market times. Would not issue a refund because they expect the client to know their market times of their USOil that’s closed for 4Hrs when other brokers have the USOil market closed for 1Hr. If you’re a new client you will not have a pleasant time trading oil with them as they run their business different from industry stands. Sad to say that I will not be using this broker again. If you’re looking please go with a better option. This company is a red flag.
26 March 2021
Unprompted review
Reply from Hugo's Way
Hi Alex,
Please be advised that, while we offer 24/7 trading and support, certain assets are only available to trade during specified market times. The open market times for each instrument can be found by right clicking on the symbol from the market watch, and then selecting specifications.
It is important to note that our servers operate in the GMT +3 Time Zone.
Our customer support is open 24/7 to provide clients with any assistance they may need at all times. Please get in touch should you have any questions about your trades, by including your email address within your message.
Kind Regards,
Hugo’s Way Support
terrible broker definitely manipulating…
terrible broker definitely manipulating the trades. and spreeds
24 March 2021
Unprompted review
Reply from Hugo's Way
Hi Ocean,
Hugo’s Way is an ECN/STP broker committed to ensuring maximum security on client funds by providing cold storage for all client deposits. We are able to offer fast transactions and low spreads, directly from our liquidity providers. Since you have not provided any contact details in your review, we are unable to locate your account in order to investigate your complaint further.
Our customer support is open 24/7 to provide clients with any assistance they may need at all times. Please get in touch should you have any questions about your trades, by including your email address within your message.
Regards,
The Hugo’s Way Support Team.
Sad I couldNt give them a -5 star.
Sad I could give them a -5 star.
Been with them over a year. WHEN I 1st registered with them they need an ID verification. 4 days ago I go to withdraw $25 and they send me through hell and back. I lost my ID during covid but always keep a picture in my phone for moments like this. Although I understand policy. I've went above and beyond to prove I am who I say I am. Been in the chat for over 2hrs going back and forth sending baby pics, handwritten documents with my signature that matches the signature on the ID (valid id) in the picture that they had since I set up my account in 2019. Smh long story short. Hugosway is all about taking your money and making it difficult to withdraw it. Especially if you can't send them exactly what they want exactly how they want. I've given them all kinds of proof. Still they hold almost $70 (MY MONEY IN ENTITLED TO) that I CANNOT withdraw. IF you can please choose another broker. I do not recommend this one to anyone. As soon as I'm able to withdraw my funds with no issues (wish me luck) I'm done with them.
Don't say I didn't warn you.
3 March 2021
Unprompted review
Reply from Hugo's Way
Hi Mykera,
At Hugo’s Way, ensuring our clients’ funds are safe and secure is our top priority. We do so by storing funds in segregated called wallets, offering two-factor authentication on your account and, in instances when clients wish to deposit or withdraw funds in methods other than Bitcoin, asking for ID verification.
In order to protect client funds, we are unable to issue withdrawals without the required documentation. However, clients are able to withdraw funds in Bitcoin should they wish.
Please be aware that our 24/7 customer support team is available to provide assistance at all times and you may contact them via our chat facility, email or by requesting a callback.
Regards,
Hugo’s Way Support.
Stole your money
Hugos way doesn’t let you withdraw your profits. It’s a total scam.
2 March 2021
Unprompted review
Reply from Hugo's Way
Hi there,
Hugo’s Way is dedicated to ensuring maximum security on client funds by providing cold storage for all client deposits. As a fully transparent ECN/STP broker, market orders are sent directly to liquidity providers. We also enable same-day withdrawals for our clients to ensure quick access to your funds.
We are unable to locate your account to investigate this issue further as you have not provided an email address to accompany your review. We strongly encourage you to get in touch with our customer support team to resolve this issue. They are available 24/7 via live chat on our website, email or through callback request to answer any further queries or concerns you may have.
Regards,
Hugo’s Way Team
Great customer service experience
Everything from depositing to withdrawal went smoothly. Second withdrawal I had to send a picture for verification purposes but everything went fine took just a few minutes and the transfer was on its way.
19 February 2021
Unprompted review
This company is a scam stay away
This company is a scam stay away! I am trying to regain access to my account and they are asking for more information than I gave them when I first started with them.
Edit: Once again this company is a scam stay away! I answered all of my security questions; yet they still requested much more personal information than legit companies like TDAmeritrade or Etrade would dare. Do not give away $500 like I did.
11 February 2021
Unprompted review
Reply from Hugo's Way
Please be aware that we are dedicated to ensuring that client accounts are fully secure at all times.
When submitting KYC documents, it’s imperative that the name registered on your account matches the name on the submitted documents. It is a standard procedure to ask clients a number of security questions when they request to change their account details. For an extra layer of security, we also ask clients to send a selfie so that we can make sure that the proof of Identity which they have submitted is correct.
We kindly ask for you to allow 24 hours for your KYC documents to be verified. If you require further clarification, you may contact the Customer Support Team 24/7, either through Live chat, email or by requesting a phone call.
Horrible broker
Horrible broker. Was in a live BTCUSD trade (short) on Saturday Jan. 30th and at 7:40pm EST I tried closing one of my positions to collect profits and kept telling me "off quotes" as I am watching my profits slowly lose profit. I called a friend that uses the same broker and had him jump into a position and close out and he was able to close out just fine. The broker isn't letting me close out of my trades intentionally and this is scam and unreliable. Don't trust my money in this broker.
31 January 2021
Unprompted review
Reply from Hugo's Way
Hi Lance
Hugo’s Way is an ECN/STP broker, meaning all client trades are sent directly to liquidity providers. This means that no trades may be altered on behalf of a client as our quotes are provided by liquidity providers based on available rates at the time of trading.
For maximum client security, we use a cold wallet storage system to ensure deposits are kept safe at all times. We also encourage clients to enable two-factor authentication on their account for added protection.
Since you have only provided your name and not your email address, we are not able to locate your account to look into your query. Please do get in touch with a member of our customer support team, available 24/7, should you wish for us to investigate your concern further: https://hugosway.com/
Thank you,
The Hugo’s Way Team
This is a scam I have lost over 2000…
This is a scam I have lost over 2000 dollars. Everytime I go in a trade it goes the opposite direction and when I come out it goes back. This is not a coincidence, I did it at .01 over 100 times and it did the opposite almost every time then went back. I am looking into a lawyer because this is theft.
27 January 2021
Unprompted review
Reply from Hugo's Way
Hi Dan,
Hugo’s Way provides a safe and secure trading environment for clients through the award-winning MT4 platform. As an ECN/STP broker, we offer fast transactions without any intermediaries, meaning there can be no third-party interference whatsoever. Moreover, our low spreads are provided directly by our liquidity providers.
Since you have not provided any contact details in your review, we are unable to locate your account in order to look into your account history.
When trading with Hugo’s Way, clients can be assured that all funds are kept safe through our cold storage system. We also offer 24/7 customer support to provide clients with any assistance they may need at all times.
Please get in touch should you have any questions about your trades, by including your email address within your message.
Regards,
Hugo’s Way Team
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