Been with Hugos for around a year, the only positive point I could find is their support. Very reponsive, they have weird opening hours if you trade WTI and some commodities, stupid high spread but that didn’t bother me that much since I do swing trades. You will get a ”market closed” or ”invalid” when theres a lot of volatility in the markets which makes you unable to place trades.
I used BTC to fund my account because it didn’t require any KYC (I like BTC because of its privacy aspect) When I asked a withdrawal because I am leaving their broker they made me take a selfie of me while holding an ID while holding a piece of paper where I had instructions of putting date/withdrawal amount/signature, they tell you it’s for ”safety purpose” Keep in mind that the only info they had was my name and phone number, for me this is total bullshit (I had an authenticator and been using the same IP/IPS since the opening of this account a year ago)
They don’t know how to do business, if a customer wants to leave just give him his money, because of this I will not recommend this broker to any of my friends+ will tell my close people to move over to vantagefx because they now offer BTC funding/withdrawal, better spread, more instruments..everything better basically except if you’re a 100+ lot trader. I will take 2 hours of my time posting this comment on every possible review website.
If you read this hugosway, consider paying your customer the respect they deserve, reputation is everything in this game. Imagine how much customers will look for another broker after reading this comment, a unhappy customer can have a huge effect these days with all the medias and shit.
Hugo’s Way★★★★★Text sentiment estimate; not a user rating
They were recommended by a friend and it makes me question his judgment. Their lack of regulation makes it likely I will never see my money again. There was amazing customer service, email and chat, when I set up the account and funded it. Now that I’m trying to get funds out, I can’t get a response.
All along there were red flags such as their lack of regulation, no phone, and their shifting funding methods. I thought their dropping of the bank wire option was to avoid the US regulatory regime but now I think it’s just one more indication to run from these guys. Currently you can fund with Bitcoin, credit/debit via Instacoins, or VLoad.
When I first tried to withdraw funds Friday morning, it only gave me the option of a Bitcoin withdrawal. They rejected that and said I had to do a VLoad withdrawal as that was how I funded the account. So I submitted that. The website says withdrawals can take several hours. It’s been over 96 of them so far (Monday evening). The only contact I have received was a Sunday night email questioning why I wanted to withdraw funds! Until I submitted a response, my withdrawal would remain pending as it has even after my response.
I have sent several emails and attempted to use their vaunted 24/7 chat service. The chat just runs through its scripted routine and you cannot talk with a customer service rep if they still have any.
I’m not sure if it’s zoo monkeys or carnival barkers running this show but save your money and get a different broker.
Hugo’s Way★★★★★Text sentiment estimate; not a user rating
I was asked to do the photo ID too. I tried several times throughout a week or so but they kept denying it. Eventually they allowed it through and I haven’t traded with them since.
Hugo’s Way★★★★★Text sentiment estimate; not a user rating
Would not recommend Hugosway I have had two great trades deleted from my account after they were closed and I guess if you have a good trade and make some money they can take it away. Dave
Hugo’s Way★★★★★Text sentiment estimate; not a user rating
THANKS DAVE for your comment, I have been tradding with Hugo’s way for just about a year. I thought I noticed some discrepancies. But being new to there platform i over looked the small anomalies. It wasn’t until being laid off and having the time to monitor my charts that uncovered a major discrepancy. (YES,IT WAS JUST AS U SAID) 2-21-21 I was closed out of my trade with no clear reason. I’ve even taken snap shots of the event to prove our theory;thus turning it into (FACT). INDIVIDUALS IF YOUR USING HUGO’S WAY LEAVE NOW WHILE U CAN. I can elaborate more just kinda pissed at the moment. Last (1) then I’m going to drink a little. The other flash anomaly I noticed; was that at critical times,the candles are not insync with the time. So while your thinking your tradding in real time your candle 🕯 hasn’t appeared for up to an hour. What im sharing is the truth %100%.
Hugo’s Way★★★★★Text sentiment estimate; not a user rating
I’ve used these guys for a good while now since I started trading live in the markets and have to say I’ve not had the issues listed above and they surprise me. Withdrawals have always been quick when doing BTC withdrawals and I’ve never been asked for photo ID or anything.
On the few times I have required any help the chat service were very helpful and quick to resolve my issue. Find the trading conditions great to use with decent spreads and rates. I’ve never been given cause to worry that I can’t withdraw and have removed my whole balance on a few occasions when I needed to. Overall a good experience for me and no complaints.
Hugo’s Way★★★★★Text sentiment estimate; not a user rating
Scammy broker, they will rob you of your money without any evidence of why your trade failed. They will blame it on fictional spreads that they make up on the fly 20+, 30+ pip spreads on major and minor pairs that are typically only a couple pips!! They will try to use these fake spread amounts to somehow justify them sucking hundreds out of your account instantaneously!! Stay away from this broker if you care about your money!
Hugo’s Way★★★★★Text sentiment estimate; not a user rating
That’s what I’ve been experiencing and didn’t know why. I would lose 20 to 30 pip’s in the middle of a positive run and seem to lose more on the drawdown. Thank you for opening my eyes to this shady practice.
Hugo’s Way★★★★★Text sentiment estimate; not a user rating
I have been using Hugos for 18 months or so now and have found them to be a very good all-round broker. The main attraction for me was the crypto trading, as it has really good leverage and is open 24/7 (my previous broker was only open on the traditional market open days. I’m surprised to read some of the other reviews regarding spreads, etc. Yes, you can find tighter spreads, but then you sacrifice the other benefits such as the leverage, etc. A pip or two here and there doesn’t matter unless you are a scalper, I think they don’t understand that spreads can increase dramatically at times of low liquidity (i.e. when the largest markets are closed), this is the same with any ECN and entering trades at these hours is best avoided.
The other thing I’ve been getting into a lot more lately too is the stocks. It’s so good being able to trade them on the same account (or sub-account).
As for the customer service, I have always found it to be prompt, friendly and useful.
Happy I chose them!
Hugo’s Way★★★★★Text sentiment estimate; not a user rating