Hugo’s Way Review

Hugo's Way Logo

Hugo’s Way is an online forex and CFD brokerage that provides traders all around the globe with very good trading conditions including tight spreads and low commission fees. Clients can trade an impressive selection of over 150+ tradable instruments, including FX pairs, cryptocurrency, indices, stocks, commodities, metals, energies, and futures. They provide the popular MetaTrader 4 trading platforms so that you can trade quickly and easily from your computer and mobile devices.

The Hugo’s Way brand is owned and operated by Hugo’s Way Ltd. The company is located in the Seychelles and was established in 2017 and also has another office in Kingstown, the capital of Saint Vincent and the Grenadines. Anyone can open an account with them and be ready to trade online in just a few minutes, with a minimum deposit requirement of only $50. Demo trading accounts are also available free of charge if you wish to practice your trading strategies whilst trying out the trading platforms and brokers services before investing real funds.

The broker operates a no dealing desk model with true ECN connectivity that gives traders access to over 50 liquidity providers to ensure quick trade execution speeds at the best possible prices. What this means is that whenever a Hugo’s Way client executes a trade, there will be no dealing desk manipulation, nor any re-quotes, ever. This also eliminates the possibility of any conflicts of interest. Each and every trade is processed via the Hugo’s Way aggregator, which guarantees the very best rates on your trades, as these are pulled from a pool of top-tier liquidity financial institutions.

Hugos Way Execution Model
Hugos Way Execution Model

Hugo’s Way have leverage of up to 1:500 available. Leverage enables traders to open a position size that is greater than what they would have been able to without it. For instance, if you have leverage of 1:500 and an account balance of $1,000, you could in theory take a position size of $500,000. This is because $1,000 x 500 leverage = $500,000. It is important to keep in mind that whilst trading leveraged positions can increase profit potential, it can also increase the possible risk of a trade.

Hugo’s Way Platforms & Tools

Hugo’s Way provides their clients with the MetaTrader 4 (MT4) trading platform, which is the most widely used platform among traders. The platform is available as a web terminal that can load on most modern browsers, desktop applications for Windows and Mac computers, and mobile apps for iOS and Android devices.

Hugos Way MetaTrader 4 Platform Desktop
Hugos Way MetaTrader 4 Platform Desktop

MetaTrader 4 (MT4) Desktop Platform

The MT4 desktop platform contains the full functionality of MetaTrader 4. It comes with charts, technical analysis tools, one-click trading, and algorithmic features for automated trading. MT4 was developed by MetaQuotes Software and released in 2005. The software is licensed to foreign exchange brokers such as Hugo’s Way who provide the software free of charge to their clients.

The MT4 desktop platform is packed with excellent trading tools. You can analyse multiple chart timeframes and chart types with more than 50+ technical indicators and drawing objects. Simply load a chart of the instrument that you wish to follow and conduct your analysis.

When you identify a trading opportunity, you can place a buy or sell trade in just a few simple clicks. From them, you can easily manage the position from within the platform with stop loss, take profits, trailing stop and more. The platform supports instant market execution orders, pending orders and limit orders.

If you can see there may be a potential trade down the line, you can set an alert notification so that the platform will let you know when price is approaching your desired level. MT4 can send alerts to your mobile phone, email and also display them via platform notifications.

One of the things that makes MT4 the platform of choice for millions of forex and CFD traders all around the world is the fact that it is very user-friendly. It has an easy to use interface that can be fully customised to each individual traders’ preferences. The platform has a quick learning curve which makes it a popular choice for beginners whilst still having powerful features and functionalities that can meet the demands of seasoned professionals.

Hugo’s Way MT4 supports automated trading with expert advisors (EAs). You can download and develop your own automated systems for a hands-off trading experience. There is the MQL programming interface built-in so those of you who are into coding can create your own customised trading tools. The platform also has a marketplace where traders can share ideas, forex signals, forex robots, forex indicators, scripts and much more.

The MT4 platform is capable of so much that it would be near impossible to cover it all here. That being said, some of the platforms more prevalent features are listed below:

  • 9 chart timeframes – from 1 minute to 1 month
  • Different chart types – candlesticks, line and bar charts
  • Multiple order types – instant, pending and limit orders
  • Over 50+ technical indicators and drawing tools
  • Automated trading using expert advisors (EA’s)
  • Set price alert signal notifications – mobile, email and platform alerts
  • Marketplace – buy, sell and share trading tools to enhance the platforms capabilities
  • Intuitive platform – user-friendly and fully customisable
  • Versatile platform – available free of charge for desktop, web and as a mobile trading app
Hugos Way MetaTrader 4 Web Platform
Hugos Way MetaTrader 4 Web Platform

MetaTrader Web Platform

What’s great about the MT4 web platform is that you can launch it right in your web browser and you don’t need to download or install any software in order to so. You can trade directly from your Hugo’s Way account in your preferred browser and save time (and disc space). Simply log in and start trading.

Hugo’s Way WebTrader gives you a reliable and intuitive interface, enhanced by securely encrypting any transmitted data. Traders have access to one-click functionality to open and close trades, employ effective risk management and access exceptional charting capabilities.

The web platform’s interface is similar to the desktop version and is just as easy to use.

  • All trading operations: placing market and pending orders
  • Real-time quotes in Market Watch
  • Customisable price charts
  • 9 chart time frames
  • Basic analytical objects: horizontal, vertical and trend line, equidistant channel and Fibonacci lines
  • Universal access to trading activity
  • Direct access through all modern browser
  • 30+ Indicators
  • Securely encrypted data transmission
Hugos Way MetaTrader 4 Trading App
Hugos Way MetaTrader 4 Trading App

MetaTrader App

Perhaps you always have your mobile phone in hand and want to take the markets with you wherever you go. That’s where the MT4 app will come in handy! You can download the MT4 app free of charge from the iOS and Android app stores. It will enable you to access your Hugo’s Way account to analyse the markets, place and manage trades, from anywhere in the world provided you have an internet connection.

With its simple to use and full of functions like charts, alerts and analysis tools, the MT4 app is the perfect way to keep pace with the market, in real-time, wherever you are. Access all the major features, with flexibility and portability.

This light, and yet powerful, application has all the capabilities necessary to keep track of the latest developments in the marketplace, amend instant and market orders, create different types of charts, and much more.

  • Ultimate flexibility
  • Full market coverage
  • Live pricing
  • Monitor & modify
  • Real time charting
  • Latest updates

Hugo’s Way Trading Instruments

When you open a Hugo’s Way account, you get access to trade a broad range of financial instruments across different asset classes, including forex, cryptos, stocks, indices and commodities. Whatever your interests, there is something for everyone to trade. The broker is constantly reviewing and adding popular instruments to keep client’s interest.

Hugo’s Way financial instruments include the following:

  • 55 Currency Pairs, including major, minor and exotic FX crosses
  • 73 Stocks from some of the largest companies across the globe
  • 38 Cryptos, including the popular Bitcoin and Ethereum digital currencies
  • Indices NAS100, UK100, AUS200, JPN225, GER30, FRA40, SPX500, US30 and more.
  • Commodities including gold, silver and oil

The Hugo’s Way trading instruments are offered as a contract for difference (CFD). A Contract for Difference (CFD) refers to a contract that enables two parties to enter into an agreement to trade on financial instruments based on the price difference between the entry prices and closing prices. If a trader correctly anticipates the way in which the price moves between the trade being opened and closed, they will make a profit minus any broker fees. However, if the price moves against the trader, they will suffer a loss including any broker fees.

Unlike stocks, bonds, and other financial instruments where traders must physically own the securities, CFD’s traders don’t hold any tangible asset. Instead, they trade on margin with units that are attached to a given security’s price depending on the market value of the security in question.

A Contract for Difference gives traders an opportunity to leverage their trading by only having to put up a small margin deposit to hold a trading position. It also gives them substantial flexibility and opportunity. For instance, there are no restrictions regarding the timing of the entry or exit and no restrictions of time over the period of exchange. There is also no restriction on entering a trade buying or selling short.

Hugo’s Way Research & Education

Truth be told, educational materials is one area in which Hugo’s Way are slightly lacking. Perhaps they are just focused on offering industry leading trading conditions instead. I would like to see them add some comprehensive educational resources which could include tutorial videos, webinars and market analysis from professional traders.

Worry not, you can find a ton of information regarding trading online free from many websites, including this one. There is also the Hugo’s Way demo account which will enable you to improve your trading skills without any risk.

That being said, there is an insights page that has some useful trading guides and also some important information regarding the brokers products and services. They also have a handy guide that cover how to purchase bitcoin, which is the digital currency that Hugo’s Way use for account deposits and withdrawals. Furthermore, there is information spread throughout the brokers site which explains what forex is, how cryptos work, how to start trading online and more.

Hugos Way Bitcoin Guide
Hugos Way Bitcoin Guide

Hugo’s Way Trading Accounts

Hugo’s Way ECN Account

Hugo’s Way keep things nice and simple by having one account type for traders who want to go live — this is the Hugo’s Way MT4 ECN Account. The broker lets you start trading with a small $10 minimum deposit and have a maximum leverage of 1:500.

The spreads are variable depending on market conditions, with a respectable average of 0.7 pips, and there is a low $5 commission fee for every lot traded. Accounts can be opened in EUR, USD, GBP, CAD, AUD, or BTC, which removes the need for currency conversion and the associated fees.

Generally speaking, Hugo’s Way have tight spreads and low fees when compared to their direct competitors. This makes them an option for all types of trader. They welcome all trading strategies including scalping, hedging, news trading and expert advisors.

They have an option to enable Two-factor authentication (2FA) on your Hugo’s Way account. This can help you to quickly protect your account and data from unauthorised access attempts. 2FA is completely free and can be turned off in the future if you do not want to use it anymore.

Demo Account

The Hugo’s Way demo accounts are available free of charge and let clients trade without any risk as they come preloaded with virtual funds. The demo accounts can be credited with up to $100,000 and you can choose a leverage that works for you. From my experience, a demo account can be a great way to learn how to trade online. It lets us try out different trading systems, test a broker’s service, get used to a trading platform and build confidence along the way.

Hugos Way 2FA
Hugos Way 2FA

Hugo’s Way Account Funding

Hugo’s Way accepts Bitcoin, Mastercard or Visa card, bank wire transfer, and Vload. The minimum and maximum transaction amount vary with the payment channel used, and the same is true for transaction fees. Bank transfers are charged a $25 transaction fee and may take up to 7 days for the funds to enter the trader’s account. The time it takes for funds to land in your account can depend on the method that you choose.

I have been in the forex industry for a long time now and remember when Hugo’s Way first opened shop. They were one of the very first brokers to support Bitcoin funding and continue to do so until this very day. Whilst some people may still be sceptical, others will certainly appreciate the anonymity and convenience of Bitcoin when compared to some more traditional methods.

If you are confused as to how it works, the broker has some Bitcoin guides on the website which can help educate you so that you are able to fund your Hugo’s Way account using Bitcoin.


Hugo’s Way accepts deposits in Bitcoin, with the minimum amount being just $50. Bitcoin is a digital currency which can be easily bought and sold for real money or another electronic currency. You can track your deposit on

If you want to buy Bitcoin, you can easily purchase and send Bitcoin to your Hugo’s Way account via third-party upon redirection. Simply select the amount and currency you wish to deposit and follow the given instructions. The minimum deposit amount for this method is $50.

Wire Transfer

Wire Transfer is the most wide-spread money transfer method in the world. You can transfer money from your bank account to the Hugo’s Way account via Instacoins, with the minimum amount being $100.


VLoad is a quick and efficient funding method that uses vouchers to top up your account fast and easy. If you do choose this method, the broker will require documents for KYC purposes.

Hugo’s Way Customer Service

The broker states that its support team is available 24/7, and they can be reached via email, live chat, contact us form, and request a call back form. Hugo’s Way are open to chat anytime, just click the live-chat bubble on the bottom right of the brokers website and you will be connected to a member of the support team. Whether you have questions or would just like to provide them with feedback regarding their services, they are there for you.

However, there is no phone number provided on the website. Another way to get instant answers to some of the most common questions is via the FAQ section.

From my experience, Hugo’s Way have always been very helpful and I have never had to wait around for a response. All of my questions were answered effectively and in a friendly manner. Top marks from me!

Hugo’s Way Regulation

It is clearly stated on the Hugo’s Way website that they are still taking their time to investigate regulatory authorities to know the one that would fit their goals and meet the needs of their clients.

In essence, the broker is not regulated by any known financial body at the moment, which may be a concern for some traders who are thinking of opening an account with them.

On the other hand, there are those who will understand that because the broker is not regulated, they are able to offer certain trading conditions, products and services, that a regulated broker wouldn’t be able to due to strict rules and regulations. Just make sure you feel comfortable with whichever broker you decide is the right one for you.

Hugo’s Way FAQ

What is Hugo’s Way minimum deposit?

The minimum deposit required by Hugo’s Way is $10.

Where is Hugo’s Way based?

Hugo’s Way is based in St. Vincent and the Grenadines.

When was Hugo’s Way founded?

Hugo’s Way was founded in 2017.

What are Hugo’s Way platforms?

Hugo’s Way provide the MetaTrader 4 platforms for web, desktop and mobile.

What trading instruments do Hugo’s Way have?

With Hugo’s Way, you can trade CFDs on Forex, Indices, Stocks, Cryptos and Commodities.

What are Hugo’s Way deposit and withdrawal options?

Hugo’s Way accept deposits and withdrawals via Cryptocurrency, wire transfer, card and VLoad.

What is Hugo’s Way leverage?

The maximum leverage at Hugo’s Way is 1:500.

What is Hugo’s Way commission fee?

The Hugo’s Way commission fee is $5 per lot, per round turn.

What are Hugo’s Way spreads?

Hugo’s Way have variable spreads starting from 0.0 pips.

Do Hugo’s Way offer demo accounts?

Yes, there is a free Hugo’s Way demo account if you would like to trial the brokers services before opening a real account.

Do Hugo’s Way offer Islamic accounts?

No, Hugo’s Way do not offer a swap-free Islamic account at this time.

Do Hugo’s Way allow scalping, hedging and automated trading?

Yes, Hugo’s Way do not have any restrictions on trading strategies.

Do Hugo’s Way charge an inactivity fee?

No, there are no inactivity fees charged.

Is Hugo’s Way regulated?

Not at the moment but they may look to add regulation in the near future.

Hugo’s Way Review Summary

Hugo’s Way is a retail Forex broker that provides excellent trading conditions to a global clientele via the industry leading MetaTrader 4 platform for web, desktop and mobile. You can choose from a great selection of over 150 tradable instruments, including FX currency pairs, cryptocurrencies, indices, commodities and stocks.

Trading conditions are very competitive with low spreads, reasonable fees, rapid ECN trade execution speeds and flexible leverage of up to 1:500. They are one of the brokers that currently accept crypto deposits and withdrawals. Customer support is available 24/7 around the clock, with a convenient live chat option.

Hugo’s Way uses deep liquidity sourced from a pool of top investment banks. Each and every trade is processed via the Hugo’s Way aggregator, which guarantees the very best rates on your trades, as these are pulled from a pool of top-tier liquidity financial institutions. Using this method ensures some of the best trading conditions and rates on the market for traders, as well as guaranteeing orders are filled straight away.

On the flip side, Hugo’s Way are not regulated at the moment and have limited educational resources. They also don’t have a swap-free Islamic account option. If you can see past this and are looking for a reliable broker, then they may certainly be worth checking out. Free demo accounts are available if you wish to give them a trial before opening a real live account.


Hugo’s Way













  • Over 150 tradable instruments including forex, stocks, indices, commodities and cryptos
  • A minimum deposit of just $10
  • Easy to use MT4 platforms for desktop, web and mobile devices
  • Flexible leverage up to 1:500
  • Make deposits & withdrawals with cryptocurrency
  • Two-Factor Authentication
  • 24/7 customer support with live chat option
  • Tight spreads and low commission fees
  • Reliable trade execution speeds
  • All trading strategies allowed