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7,0%
Top 10
5,0%
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1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
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HugosWay Review 2024
Minimum
deposit:
deposit:
- $10
Trading platform:
- MT4
Bonus for deposit:
- 0%
Minimum
deposit:
deposit:
- $10
Trading platform:
- MT4
Bonus for deposit:
- 0%
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Summary of Hugo’s Way Trading Company
Hugo’s Way is a moderate-risk broker with the TU Overall Score of 5.32 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Hugo’s Way clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews. Hugo’s Way ranks 93 among 412 companies featured in the TU Ranking, which is based on the evaluation of 100+ criteria and a test on how to open an account.
HugosWay is an ECN and STP (straight-through processing) broker offering traditional trading services for all types of assets. A low minimum deposit opens up opportunities for novice traders to get acquainted with Forex.
HugosWay (also Hugo’s Way and Hugosway) was founded in 2017. Despite its relatively young age, the company has firmly established itself among the classic brokers working on Forex with traditional trading instruments. HugosWay aims to cooperate with clients from Europe and Asia. Registration is in Saint Vincent and the Grenadines.
| 💰 Account currency: | USD |
|---|---|
| 🚀 Minimum deposit: | From USD 10 |
| ⚖️ Leverage: | up to 1:500 |
| 💱 Spread: | From 1.7 pips for all instruments except commodity assets |
| 🔧 Instruments: | Currencies, assets of stock and commodity markets, cryptocurrencies |
| 💹 Margin Call / Stop Out: | 100%/70% |
👍 Advantages of trading with Hugo’s Way:
- Low initial deposit - from $10.
- Сryptocurrencies are among the arsenal of trading tools.
- There is a demo account.
👎 Disadvantages of Hugo’s Way:
- Offshore registration and lack of information on liquidity providers.
- Only 4 options for depositing / withdrawing money.
- Average spread that may widen at times of abnormal volatility.
- Lack of unique tools and offers that give an edge over competitors.
Evaluation of the most influential parameters of Hugo’s Way
Table of Contents
Geographic Distribution of Hugo’s Way Traders
Popularity in
7.01%
CA
4.5%
MX
3.8%
NG
3.77%
GB
3.74%
JM
3.49%
DO
3.39%
BS
3.38%
DE
3.25%
CO
83.67%
Others
Video Review of Hugo’s Way i
User Satisfaction i
56 comments
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Expert Review of Hugo’s Way
HugosWay positions itself as a classic ECN and STP broker. The mission of the company is the technological development of data transmission between all participants in the international Forex market. The company's website contains a lot of information about the segregation of client accounts, liquidity from institutional-level banks with a spread of 0.0 pips, etc. But it is difficult to call HugosWay transparent. The site does not report who the broker's partner is or in which banks the client's money is placed. The same can be said about the spread: a spread from 0.0 pips is possible only when trades are withdrawn on ECN platforms. Banks do not support such a spread. And this can be clearly seen on the online spread page where there is no spread smaller than 1.7. The exception is the assets of the commodity markets.
The proposed platform is MT4 without any unique modifications. It has all trading instruments including indices and cryptocurrencies. There are no unique services or tools, the emphasis is on traditional trading.
HugosWay doesn't have any obvious flaws. There are no significant complaints from traders about problems with the withdrawal of money or the mechanism for order execution. Therefore, HugosWay has been among the companies in the Traders Union rating of Forex brokers recommended for trading for several years.
Dynamics of Hugo’s Way’s popularity among
Traders Union’s traders, according to 2023 data
Investment Programs, Available Markets and Products of the Broker
The main direction of HugosWay is providing services to active traders in all types of financial markets. The promotion of investment programs is not yet provided for in the company's policy.
Important!
If you are a large investor and plan on investments over $ 10,000, contact us at vip-invest@tradersunion.com Sor by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
HugosWay affiliate program:
-
It’s a multilevel referral program that provides for the construction of a 5-level referral model, in which for the first level the partner receives up to $2 for each referral lot. Distribution of income to subsequent levels allows the partner to receive up to 40% of the commission of attracted traders. Anyone can take part in the affiliate program. Payments are weekly.
Trading Conditions for Hugo’s Way Users
There is not much information about the trading conditions of the HugosWay broker. The broker's policy provides an individual approach to each client. Therefore, all questions should be addressed to the company's support service. There is a commission for each lot of about $5, but the principle of its calculation is unclear.
$10
Minimum
deposit
1:500
Leverage
24/5
Support
| 💻 Trading platform: | МТ4 |
|---|---|
| 📊 Accounts: | Demo, Real |
| 💰 Account currency: | USD |
| 💵 Replenishment / Withdrawal: | ВТС, bank transfer, Visa, Mastercard, VLoad |
| 🚀 Minimum deposit: | From USD 10 |
| ⚖️ Leverage: | up to 1:500 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | No data |
| 💱 Spread: | From 1.7 pips for all instruments except commodity assets |
| 🔧 Instruments: | Currencies, assets of stock and commodity markets, cryptocurrencies |
| 💹 Margin Call / Stop Out: | 100%/70% |
| 🏛 Liquidity provider: | No data |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Instant execution, Market execution |
| ⭐ Trading features: | Cryptocurrency trading is allowed |
| 🎁 Contests and bonuses: | No |
Comparison of Hugo’s Way with other Brokers
| Hugo’s Way | RoboForex | Eightcap | Exness | FxPro | Gerchik&Co | |
| Trading platform |
WebTrader, MT4, Mobile platforms | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | MT4, MT5 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MobileTrading, MT5, cTrader, FxPro Edge | MetaTrader4, MetaTrader5 |
| Min deposit | $10 | $10 | $100 | $10 | $100 | $100 |
| Leverage |
From 1:1 to 1:500 |
From 1:1 to 1:2000 |
From 1:30 to 1:500 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
From 1:1 to 1:100 |
| Trust management | No | No | No | No | No | Yes |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0 points | From 0 points | From 0 points | From 1 point | From 0 points | From 0 points |
| Level of margin call / stop out |
100% / 70% | 60% / 40% | 80% / 50% | No / 60% | 25% / 20% | 100% / 50% |
| Execution of orders | STP | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | Yes | No | No | No | No |
Broker comparison table of trading instruments
| Hugo’s Way | RoboForex | Eightcap | Exness | FxPro | Gerchik&Co | |
| Forex | Yes | Yes | Yes | Yes | Yes | Yes |
| Metalls | No | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | No | Yes | Yes | Yes | Yes |
| CFD | Yes | Yes | Yes | Yes | Yes | Yes |
| Indexes | Yes | Yes | Yes | Yes | Yes | Yes |
| Stock | Yes | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | No | No | No | Yes |
| Options | No | No | No | No | No | No |
Hugo’s Way Commissions & Fees
Information
Traders Union experts have analyzed HugosWay trading conditions for explicit and implicit commissions. It is worth noting the lack of transparency in the broker's work. The site contains only general terms of cooperation and there is almost no information on commissions. The Real trading account is the only one.
| Account type | Spread (minimum value) | Withdrawal commission |
| Real | From $15 | No data |
There are swaps (commission for transferring a position to the next day). A comparative analysis of the commissions of HugosWay's competitors was also made. Each broker was assigned a corresponding rating based on the analysis.
| Broker | Average commission | Level |
| Hugo’s Way | $15 | High |
| RoboForex | $1 | Low |
| Pocket Option | $8.5 | Medium |
Detailed Review of HugosWay
HugosWay is a broker that works primarily with traders from certain regions of Europe and Asia. The company is focused on providing classic trading services on the most popular MT4 platform. The main product of the broker is intermediary services in all sectors of the Forex market. The broker has more than 150 trading assets in its arsenal. They are currency pairs and cross-rates, cryptocurrencies, indices, and assets of commodity markets.
Here are a few numbers about the HugosWay broker which will help a trader to choose a reliable broker:
-
Leverage - 1:50-1:500.
-
One account for all trades.
-
Order processing speed - 150-250 ms.
HugosWay is a broker for those who value reliability.
A feature of the HugosWay order execution technology is a single account from which trading is carried out according to the hybrid ECN-STP model. Depending on where the smallest spread is currently, the order is sent either to the ECN system or directly to an institutional liquidity provider. This mechanism allows you to offer the smallest spread while maintaining a high level of liquidity.
The broker is relatively young, but there are no serious complaints about the fulfillment of its obligations yet. There are minor delays in transactions, there are claims to widen the spread due to fundamental factors. The developers promise that the number of products offered to traders will soon be enlarged with investment programs and technical tools.
Useful services of HugosWay:
-
Presently, unique technical tools are under development, so the MT4 platform is the only useful service and tool. Despite the lack of social trading, you can connect the trading signals service and copy trades through the platform in the MQL community.
Advantages:
1
Deposit from $10.
2
Wide range of cryptocurrency assets.
The broker does not restrict algorithmic trading, hedging, scalping, and fundamental trading.
How to Start Making Profits — Guide for Traders
HugosWay offers a single account type for all types of assets. Trading conditions for it differ depending on the trading instrument.
Account types:
Account Type
Description
Real account
A real account is for currency and cryptocurrency pairs,
commodity assets, indices, cross-rates. The leverage is from 1:50 to 1:500. The spread is
measured in different units - points and account currency.
There is a demo account to practice strategies and skills of working with the platform.
Bonuses Paid by the Broker
The company's policy does not provide incentives for traders using bonus programs
Investment Education Online
Information
So far, a section dedicated to training traders is under construction. There is a FAQs section where you can find answers to the most frequently asked questions on trading conditions, payment systems, and working with MT4.
Information available on HugosWay site
Information not available on HugosWay site
FAQs
Forex terminology
Basic information about Forex
Video tutorials on working with the trading platform
Security (Protection for Investors)
Information
The broker is registered in an offshore jurisdiction and does not have any licenses. According to the information on the website, the broker provides segregation of client accounts, but there is no data on partner banks. There is also information about two-factor authentication of signal encryption and protection of traders' accounts.
👍 Advantages
- Segregated accounts declared
👎 Disadvantages
- Lack of information on regulation and broker licenses on the website
Withdrawal Options and Fees
-
There is no detailed information on depositing and withdrawing money on the site.
-
There are 4 options for depositing and withdrawing money: ВТС (electronic wallet), VLoad, Visa, and Mastercard bank cards.
Customer Support Service
Information
The broker's support service works 24/7.
👍 Advantages
- There is an email address for contacting support
👎 Disadvantages
- Support staff answers with general phrases without specifics
There are several ways to contact support:
-
by email;
-
by chat on the broker's website.
Contacts
| Registration address | Beachmont Business Centre, Suite 65, Kingstown, St. Vincent and the Grenadines |
| Official site | hugosway.com |
| Contacts |
Email:
support@hugosway.com,
|
Review of the Personal Cabinet of HugosWay
Before opening an account with Hugo’s Way, go through a free registration on the Traders Union rebate service website and go to the broker's website using the affiliate link. This will allow you to receive compensation on part of the spread in the future.
How to open an account with the HugosWay broker:
1
On the main page of the site, at the very bottom, find the option to open a demo account. There is also an option to open a real account.
2
Enter your personal data and check the notice that will be directed to the email address you specify. To gain access to your personal account, you need to open a real account.
3
The following functions are available in the HugosWay personal account:
1. Account statistics:
2. Account activity:
1. Account statistics:
2. Account activity:
Other useful settings and functions of the personal account:
-
Affiliate program statistics.
-
Personal account settings.
-
Management of your funds.
Disclaimer:
Your capital is at risk. Trading leveraged products such as Forex and Cryptos may not be suitable for all investors as they carry a degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary seek independent advice.
Find out how Hugo’s Way stacks up against other brokers.
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FAQs
Do reviews by traders influence the Hugo’s Way rating?
Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about Hugo’s Way you need to go to the broker's profile.
How to leave a review about Hugo’s Way on the Traders Union website?
To leave a review about Hugo’s Way, register on the Traders Union website or you can also leave a review through Facebook.
Is it possible to leave a comment about Hugo’s Way on a non-Traders Union client?
Anyone can leave feedback about Hugo’s Way on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.
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