REVIEWS

HugosWay Review 2022

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hugosway

What is HugosWay?

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

Awards

Pepperstone has won more than eight awards in 2019 from four different institutions, which is a rarity for Forex brokers. One of the awards it has won in 2019 is the Best Client Relationship Manager Service from the Professional Trader Awards. Pepperstone has also been rewarded the Best Global Forex ECN Broker and the Best Forex Trading Support in Europe from the Global Forex Awards.

Pepperstone has also received multiple awards from the Investment Trends Australia Leverage Trading Report.

Pros Cons
Stores client funds in segregated accounts  Not regulated by any financial regulator
Publicly listed company Charges CFD commissions
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  

HugosWay is a CFD and Forex trading broker that was founded in 2017 and is currently headquartered in St. Vincent and the Grenadines.

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 Or A Scam?

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 Cons
Stores client funds in segregated accounts  Not regulated by any financial regulator
Publicly listed company  
Performs regular on-going evaluation reports  
Two-factor authentication provided  

Client 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 offers the storage of client funds in segregated accounts, where the funds are kept in top tier financial institutions.

Fees

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

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.

Pros Cons
Low non-trading fees High commission required for CFDs
No deposit and withdrawal fees  
No inactivity fees  
Tight spreads available  

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 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 forex brokers, so not requiring an inactivity fee is welcomed feature.

Leverage

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

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

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.

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 Cons
Tight spreads available Only one trading account available
Acceptable maximum leverage level  
Low minimum deposit required  
Fast and digital account opening process  

What Is Hugosway Minimum Deposit?

The minimum deposit for HugosWay trading account, also known as Hugo Account, is as low as 10USD.

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

Step Two: Activate the verification email and start trading.

HugosWay -2

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.

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.

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 Cons
No deposit fee None
Different account base currencies  
Fast deposit process  
Several types of payment methods  

HugosWay Deposit Options

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

Withdrawals

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, the broker 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 Cons
No withdrawal fee None
 Different account base currencies  
Fast withdrawal process  
Several types of payment methods  

HugosWay Withdrawal Options

  • Bank Wire Transfer
  • Credit\Debit Card
  • Electronic Wallet
HugosWay does not require a deposit or withdrawal fee, and it provides a fast funding service.

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

Is The HugosWay Trading Platform Secure?

HugosWay safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. HugosWay also urges its clients through its web platform to always look for the SSL security sign (a lock sign) o the browser while operating HugosWay.

Web Trading Platform

With the 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 the 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 Cons
Allows hedging None
 Allows scalping  
EAs available  
Customizable indicators  
Available for Windows and Mac  
 User-friendly format  
Two-step login process available  

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

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 Cons
Allows hedging and scalping No facial recognition
 Customizable indicators No fingerprint recognition
Easy to navigate  
Available for Android and iOS
Available to trade on-the-go  
HugosWay provides one trading platform for you to use at your disposal.

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 Cons
Over 104 shares available on HugosWay None
 6 different metals provided  
3 different energies available  
 11 most popular indices are offered
45 diverse cryptocurrency available  
What HugosWay Offers
Forex Metals
Indices Stocks
Energies Cryptocurrencies
HugosWay offers access to six different financial markets and over 150 financial instruments to trade.

Markets Research & Trading Tools

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 Cons
The affiliate program will help you earn commission Limited range of trading tools
 MT4 tools are available for all traders  

Market Research

HugosWay does not provide any market research materials.

HugosWay offers limited, but extensive trading tools that will help enhance your trading strategies.

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 Cons
 Fast and reliable customer service team None
Different means of communication  
Relevant answers from customer service  
Available in several languages  

Means Of Communication

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

HugosWay offers three different means of communication with a fast and reliable customer service team.

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
Pros Cons
Step-by step guide on trading platforms None
Demo Account available
Trading Glossary

Client Education Resources

  • Platform tutorial videos
  • Educational articles
  • Webinars
  • Trading Glossary
  • Demo Account

You will find that HugosWay provides two different educational resources, which is limited but it is very thorough in its education.

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.

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.

Methodology

All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. We analyze more than 3000 data points across 8 key focus areas.

Our reviews are a combination of data research and working alongside the brokers. All information provided by the brokers are double-checked to guarantee 100% accuracy and that we remain unbiased.

2022 Review Methodology

For our 2022 Forex Broker Review, we assessed, rated, and ranked 45 international forex brokers over a three-month time period. Each broker was graded on 108 different variables and, in total, over 100,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 0.1% each year, providing site visitors with quality data they can trust. Learn more about how we test.

Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more at Wikipedia.

Chad Smith

Chad Smith

Director of Research & Analysis

Chad Smith is the Director of Research & Analysis here at ForexBrokerListing.com.

Chad previously served as an Editor for a number of websites related to finance and trading, where he authored a significant number of published articles about trading and the impact of technology in transforming investing as we know it.

Overall, Chad is an active fintech and crypto industry researcher with more than 15 years of trading experience, and you can find him teaching his dog how to trade in his free time.