Hugo’s Way FX Broker Review

Author By Jeffrey Cammack
Updated: March 1, 2021
Overall Rating
2.15 2.15 / 5
🏦  Min. DepositUSD 10
🛡️  Regulated By
💵  Trading Cost 
USD 13
⚖️  Max. Leverage500:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 
AlertAccepts South African Clients. We do not recommend Hugo’s Way FX due to lack of regulation. Average spread EUR/USD 0.80 pips with 5 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 platform support. HugoswayFX is not regulated by a credible regulator. Use at your own risk.
Last updated on 1 Mar 2021
by Editorial Director Jeffrey Cammack
Jeffrey Cammack

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Our verdict on Hugo’s Way FX

We do not recommend Hugo’s Way to South African traders as it is completely unregulated and trading costs are high. If you are looking for a good ECN/STP broker we recommend Axi or FP Markets.

Hugo’s Way is an ECN/STP broker with a single account type and support offered for the MT4 platform only. Spreads are wide for an ECN/STP broker, starting at 0.8 pips on the EUR/USD. Hugo’s Way also charges a 5 USD commission per lot traded, making this broker one of the more expensive ECN/STPs to trade with. Forex education and market analysis are almost non-existent and customer support is limited to a contact form and a live chat system. 

🏦  Min. DepositUSD 10
🛡️  Regulated By
💵  Trading Cost 
USD USD 13
⚖️  Max. Leverage500:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Overall Summary

Regulation
000000/ 5
Trading Conditions
111003/ 5
Trading Platforms
110002/ 5
Deposit & Withdrawal
100001/ 5
Education & Research
10.50001.5/ 5
Assets Available
11110.54.5/ 5
Customer Service
111104/ 5
Beginner Friendly
Poor
Welcome Bonus

Account Information

Base Currencies
AUD, EUR, GBP, NZD, USD
Number of FX Pairs
55
Crypto Pairs
35
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Account Name
Trading Desk
Commission
5 USD / Lot
EUR/USD
0.80 pips
GBP/USD
1.10 pips
USD/JPY
0.70 pips
Negative Balance Protection

Company Details

Company Name
Hugo’s Way Ltd
Founded
2017
Website
Website Language
English
Support Language
English
Office Locations
St. Vincent and the Grenadines

Pros

  • #N/A

Cons

  • #N/A
AlertAccepts South African Clients. We do not recommend Hugo’s Way FX due to lack of regulation. Average spread EUR/USD 0.80 pips with 5 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 platform support. HugoswayFX is not regulated by a credible regulator. Use at your own risk.
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