HugosWay Review 2020

HugosWay Summary

HugosWay is a CFD and Forex trading broker that was founded in 2017 and is currently headquartered in St. Vincent and the Grenadines. This Forex broker provides different financial markets and trading instruments for you to trade, as well as a low minimum deposit. However, you have to consider the limited trading accounts since HugosWay offers only one account.

This HugosWay review will give you an overview of all its features and its considerations as a Forex trading broker.

HugosWay Main Features
🛍️Established in:
2017
🛍️Headquarters:
St. Vincent and the Grenadines
⚖️Regulations:
FSA
⚖️Country of regulation:
St Vincent and the Grenadines
💰Minimum Deposit:
$10
🎮Platforms:
MT4
🎮Demo Account Available:
Yes
💱Leverage:
1:500
💰Withdrawal fee amount:
$0
💰Inactivity Fee:
No

Pros

  • Stores client funds in segregated accounts
  • Publicly listed company
  • Performs regular on-going evaluation reports
  • Provides Demo Account
  • Wide range of account base currencies
  • Low minimum deposit
  • No deposit or withdrawal fees
  • No inactivity fees
  • More than 55+ currency pairs

Cons

  • Not regulated by any financial regulator
  • Charges CFD commissions

Background

HugosWay is a CFD and Forex trading broker that has been established in St. Vincent and the Grenadines since 2017. Currently, HugosWay operates with more than 5,000 active traders.

Safety & Regulation

HugosWay offers the storage of client funds in segregated accounts, where the funds are kept in top tier financial institutions. This Forex broker also performs an on-going evaluation of its procedures to ensure the best trading environment for its active traders and transparency in day-to-day operations.

This HugosWay review will provide you in-depth knowledge of the safety and protective measures that HugosWay takes for its active traders.

Is HugosWay Safe?

HugosWay is considered a safe Forex broker since it keeps your funds in segregated accounts and provides regular audit reports on its procedures. You will find that HugosWay is currently a publicly listed exchange company and it has over 5,000 active traders.

Pros

  • Stores client funds in segregated accounts
  • Publicly listed company
  • Performs regular on-going evaluation reports
  • Two-factor authentication provided

Cons

  • Not a regulated Forex broker

Regulation

HugosWay is currently in the process of being regulated by a financial regulator.

Protection

HugosWay offers protection to its clients by storing the client’s funds in segregated accounts in top-tier financial institutions. Additionally, this Forex broker performs regular evaluation reports to ensure transparency in day-to-day operations.  You will also be required to input a two-factor authentication while logging into your trading account, for further safety measures.

HugosWay Fees

HugosWay provides tight spreads and low non-trading fees. You will not have to worry about deposit and withdrawal fees, since there are not any. However, you will have to consider the high commissions charged while trading CFDs.

This HugosWay reviews will inform you on the trading conditions of HugosWay and its benefits.

Pros

  • Low non-trading fees
  • No deposit and withdrawal fees
  • No inactivity fees
  • Tight spreads available

Cons

  • High commission required for CFDs

Trading Fees

HugosWay offers tight spreads that can go as low as 0.0 pips; however, you will have to consider the commissions charged while trading CFDs. The commissions charged by HugosWay are 5USD per lot, which is 10USD per round turn.

Non-Trading Fees

HugosWay may charge you with a commission for trading CFDs; however, it makes up for it by not requiring from you any non-trading fees. You will not be charged with any deposit fees, withdrawal fees, or inactivity fees. Inactivity fees are regularly charged by other Forex broker, so not requiring an inactivity fee is rare feature in HugosWay.

Leverage

The maximum leverage level that HugosWay offers active traders is up to 1:500.

Deposit Fees and Withdrawal Fees
Deposit Fees 0USD
Withdrawal Fees 0USD

HugosWay Fees Compared To Competitors
HugosWay JP Markets  Khwezi Trade
Account Fee No No No
Inactivity Fee No Yes No
Deposit Fee 0USD 0USD 0USD
Withdrawal Fee 0USD 0USD 0USD

Account Opening

HugosWay offers one trading account for you to use, known as the Hugo Account. You will find tight spreads, low minimum deposits, and an acceptable maximum leverage level. This HugosWay review will demonstrate how to open a Hugo Account through a step-by-step guide.

Pros

  • Tight spreads available
  • Acceptable maximum leverage level
  • Low minimum deposit required
  • Fast and digital account opening process

Cons

  • Only one trading account available

Minimum Deposit

The minimum deposit for HugosWay trading account, Hugo Account, is as low as 10USD or its currency equivalent.

Hugo Account

HugosWay offers one trading account, the Hugo Account, for active traders. You will find that the maximum leverage level for trading is 1:500, with tight variable spreads, and a low minimum deposit required of 10USD. The tight spreads can be reduced as low as 0.0 pips.

How To Open a HugosWay Trading Account

Step One: Fill in the online application with your personal information

HugosWay -1

Fill in the online application with your personal information

Step Two: Activate the verification email and start trading. 

HugosWay -2

Activate the verification email and start trading.

Deposit & Withdrawal

HugosWay does not require a deposit or withdrawal fee, and it provides a fast funding service. You will be able to choose one of six different account base currencies, with the option of selecting out of three different payment methods.

This HugosWay review will offer you a list of the different payment methods provided by HugosWay.

Account Base Currencies

The account base currencies that are available for active traders of HugosWay are: EUR, USD, GBP, CAD, AUD, BTC

Deposits

Deposits with HugosWay do not require a fee, and you do not have to wait a long time for your deposits to be processed. The deposit process would only take approximately 24 hours, or 1 business day, to be processed. You can choose from the six dissimilar account base currencies, and the diverse payment methods. HugosWay offers you the option of making a deposit with different methods such as: Credit\Debit Card, Bank Transfer, and Electronic Payments.

Pros

  • No deposit fee
  • Different account base currencies
  • Fast deposit process
  • Several types of payment methods

Cons

  • None

HugosWay Deposit Options

  • Bank Wire Transfer
  • Credit\Debit Card
  • Electronic Wallet

Withdrawal

HugosWay withdrawals are a beneficial factor for active traders. One of the biggest issues in Forex trading is the slow withdrawal process. However, with HugosWay, withdrawals are processed in approximately 1 business day. You also will not have to concern yourself with paying a withdrawal fee, since withdrawals are free. Additionally, HugosWay offers a variety with account base currencies and payment methods; you can choose from six different account base currencies and three different payment methods.

Pros

  • No withdrawal fee
  • Different account base currencies
  • Fast withdrawal process
  • Several types of payment methods

Cons

  • None

HugosWay Withdrawal Options

  • Bank Wire Transfer
  • Credit\Debit Card
  • Electronic Wallet

Trading Platforms

HugosWay provides one trading platform for you to use at your disposal. This HugosWay review will demonstrate the trading experience of the trading platform, MetaTrader4, with its web, desktop, and mobile trading platform.

  • MetaTrader4

Web Trading Platform

With MetaTrader4 web trading platform, you will have the option for 4 pending orders, which are:  Buy Stop, Sell Stop, Buy Limit, Sell Limit. These four pending orders are the most basic and most essential trading orders. You also have the option of a Stop Loss order, which is a pending order that allows you to buy or sell a stock once it reaches your target price.

With HugosWay MT4 web trading platform, you will have the option of a two-step login process. You will have the initial login process and a two-step factor authentication to rely on to protect your MT4 account. Additionally, you will be allowed to view your performance history; this includes fee reports, past trades, and trading portfolios.

The MT4 web trading platform allows you to be alerted through email notifications for any price movements that you want to know about. These email notifications allow you to be instantly notified when a price moves in the position you want.

Pros

  • Allows hedging
  • Allows scalping
  • EAs available
  • Customizable indicators
  • Available for Windows and Mac
  • User-friendly format
  • Two-step login process available 

Cons

  • None

Desktop Trading Platform

With MetaTrader4 desktop trading platform, there are 4 pending options, which are the most basic and also the most important pending orders you will find in any trading platform. These pending orders are: Buy Stop, Sell Stop, Buy Limit, Sell Limit. You also can use the Stop Loss order, a pending order that permits you to buy or sell an instrument once it is at its ideal position for you.

Fortunately, you can find a two-step login process, for additional security. It is up to you to use only the initial login process that protects your funds and personal information or use the two-step factor authentication. In addition, the desktop trading platform allows scalping and hedging, as well as Expert Advisors (EAs).

The HugosWay desktop trading platform is available to download on Mac and Windows, which means that you will receive notifications on the desktop of your device. You can activate it through your MT4 account, to be alerted of any price movements of your choosing.

Pros

  • Downloadable on Mac and Windows
  • Customizable indicators
  • Allows hedging and scalping
  • Price alerts and notifications
  • User-friendly and easy to navigate
  • Two-step factor authentication process available

Cons

  • Basic pending orders only

Mobile Trading Platform

With MetaTrader4 mobile trading platform, you will have the option for 4 pending orders, which are:  Buy Stop, Sell Stop, Buy Limit, Sell Limit.  You will also have access to the Stop Loss order, which is a pending order that allows you to buy or sell a stock once it reaches your target price. This mobile application is best for traders who like dealing on-the-go, trading anytime and anywhere.

With HugosWay MT4 mobile application, you will not have the option of facial recognition or fingerprint recognition as a second login. You will only have the initial login process with your username and password. However, to make up for that disadvantage, you can always your performance history; this includes fee reports, past trades, and trading portfolios.

The MT4 mobile application platform allows you to be alerted through push notifications for any price movements that you want to know about. These push notifications set up on your mobile device allow you to be immediately notified when a price moves in the ideal position for you.

Pros

  • Allows hedging and scalping
  • Customizable indicators
  • Easy to navigate
  • Available for Android and iOS
  • Available to trade on-the-go

Cons

  • No facial recognition
  • No fingerprint recognition

Markets & Financial Instruments

HugosWay offers access to six different financial markets and over 150 financial instruments to trade. You will find the different financial markets available in this HugosWay review.

Pros

  • Over 104 shares available on HugosWay
  • 6 different metals provided
  • 3 different energies available
  • 11 most popular indices are offered
  • 45 diverse cryptocurrency available

Cons

  • None
What HugosWay Offers
Forex Metals
Indices Stocks
Energies Cryptocurrencies

Markets Research & Trading Tools

HugosWay offers limited, but extensive trading tools that will help enhance your trading strategies. The two trading tools that are available for you are: MT4 tools and Affiliate Program. The Affiliate Program is a program that allows you to earn commission when other clients sign up to join HugosWay. As for the MetaTrader4 Tools, they are a set of tools that are available through the platform to enhance your trading decisions.

HugosWay Tools
MetaTrader4 Tools Expert Advisors
Affiliate Program

Pros

  • The affiliate program will help you earn commission
  • MT4 tools are available for all traders

Cons

  • Limited range of trading tools

Market Research

HugosWay does not provide any market research materials.

Customer Service

HugosWay offers three different means of communication with a fast and reliable customer service team. You will be able to use different languages with the customer service team that is available 24/7.

This HugosWay review will list the different means of communication of the customer team.

Pros

  • Fast and reliable customer service team
  • Different means of communication
  • Relevant answers from customer service
  • Available in several languages

Cons

  • None

Means Of Communication

    • Live chat
    • Phone support
    • Email support
    • Contact Form

 

Client Education

You will find that HugosWay provides two different educational resources, which is limited but it is very thorough in its education. The FAQ and Insights is a self-help educational resource that will provide you with any potential inquiries you may have. As for the Demo Account, you will be able to be a part of a simulation and hands-on approach on how to learn all about HugosWay and its features.

This HugosWay review will demonstrate a step-by-step guide on how to open a Demo Account.

Client Education Resources

  • FAQ and Insights
  • Demo Account

How To Open a Demo Account

Step One: Fill in your personal information on the online application.

HugosWay Demo -1

Fill in your personal information on the online application.

Conclusion

HugosWay is a CFD and Forex trading broker that was founded in 2017 and is currently headquartered in St. Vincent and the Grenadines. This Forex broker provides different financial markets and trading instruments for you to trade, as well as a low minimum deposit. However, you have to consider the limited trading accounts since HugosWay offers only one account.

HugosWay offers the storage of client funds in segregated accounts, where the funds are kept in top tier financial institutions. This Forex broker also performs an on-going evaluation of its procedures to ensure the best trading environment for its active traders and transparency in day-to-day operations.

hugosway
$10
Min. Deposit
100%
Bonus
Regulated byFSA
Leverage1:500
Customer Support24/5
Open Account

HugosWay Overall Performance

  • Safety and Regulation 98% 98%
  • Deposit and Withdrawal 98% 98%
  • Market Research & Trading Tools 97% 97%
  • Broker Fees 98% 98%
  • Trading Platforms 97% 97%
  • Customer Service 99% 99%
  • Account Opening 98% 98%
  • Market & Financial Instruments 97% 97%
  • Client Education 99% 99%

Frequently Asked Questions

Is HugosWay Legit?

HugosWay is a legitimate Forex trading broker that offers protection to its clients by storing the client’s funds in segregated accounts in top-tier financial institutions. Additionally, this Forex broker performs regular evaluation reports to ensure transparency in day-to-day operations.  You will also be required to input a two-factor authentication while logging into your trading account, for further safety measures.

How Long Do HugosWay Withdrawals Take?

HugosWay withdrawals can be processed up to 24 hours or 1 business day.

What Is The Minimum Deposit For HugosWay?

The minimum deposit for HugosWay trading account, Hugo Account, is as low as 10USD or its currency equivalent.

Is HugosWay Regulated?

HugosWay is currently in the process of being regulated by a financial regulator.

Is HugosWay An ECN Broker?

Yes, HugosWay is an ECN Forex broker.

Is HugosWay Safe?

HugosWay is considered a safe Forex broker since it keeps your funds in segregated accounts and provides regular audit reports on its procedures. You will find that HugosWay is currently a publicly listed exchange company and it has over 5,000 active traders.