Hugo's Way Broker Review

Customer Service4/5
Commissions & Fees3/5
Platform, Tools & Education1/5
Customer Reviews & Regulation3/5
Offering of Investment4/5

As a user of Hugo's Way, I can say that it has been an amazing experience so far. Here is what I, along with other traders think of this broker:

Customer Service

On the Hugo's Way website, you can easily access their customer support through filing your name and sending a request, or you can access your representative on the bottom corner of the screen to pull up a chat. First hand, I can tell you that the response time is very quick and efficient. When I had an issue, I contacted my representative through the support button and got a reply within minutes. Their 24/7 client support department is very timely, similar to AxiTrader.

Get $5 Off our VIP Group!

  • See all trades taken by our analysts
  • Join our chatrooms
  • Access our strategy library
  • USE CODE 'FVIP1' to get $5 OFF!

Commissions & Fees

Hugo's Way offers a $5 USD commission per traded lot. So, on a .01 lot, you would pay five cents per trade, on a .02 lot you would pay ten cents, and so on. Commissions are a little more expensive for this private broker compared to AxiTrader ($3.5) and Oanda ($0.01 minimum). There are no fees to sign up, and the process is very general and simple.

Platform, Tools & Education

Hugo's Way uses the standard MT4, MT5 platforms with a maximum leverage of 1:500. They also have tight spreads and good execution on trades. As far as scanners, bots, and other tools, this broker does not provide any of that which could turn some users away. Beginning traders might want more tools to access for their trading, but that is up to the user's preference. Hugo's is more focused on helping clients with account issues rather than providing education, which is probably why their customer support has been very thus far. It is also easier to not provide tools and scanners for clients because someone will always have an issue with it.

Customer Reviews & Regulation

For clarity, Hugo's Way is not a regulated broker meaning that if something were to happen to them (go out of business), they would not be obligated to recover any of your funds. However, this broker works hard at helping all their customers because it is good for business. On almost every broker review page, someone has an issue with recovering funds or withdrawing from their account. According to TrustPilot, the reviews were majority 5 stars and 1 star, giving Hugo's Way a 3/5 on their site. A plethora of reviews were concentrated on their customer support which was either praised or condemned by users. So, there are very mixed reviews regarding Hugo's client portal; it might just be the luck of the draw.

Offering of Investment

The reason why I use Hugo's Way is not only because it is hard for a US citizen to gain access to indices and metals, but they also offer a variety of stocks to trade including Tesla, Apple, Amazon, Microsoft, McDonald's, Intel and more. The broker has so much to offer for the user, especially for US citizens who are looking to trade these along with currencies, metals, commodities, crypto and exotics. This is definitely one of the best brokers out there access-wise. For those of you who want to trade indices like the US30, NAS100 or SPX500, this is a good place to start.

Latest Market Insights
September 26, 2020
Weekly Forex Forecast for GBPJPY, NZDJPY, XAUUSD, GBPUSD (27-02 October 2020)

Weekly Forex Forecast for GBPJPY, NZDJPY, XAUUSD, GBPUSD (27-02 October 2020) Hey everyone! Welcome to this weeks forex forecast for the week ending October 2nd, 2020. I'm TraderBart with A1 Trading, and this week I'll be looking at GBPJPY, NZDJPY, XAUUSD & GBPUSD. GBP/JPY Looking at the daily chart, we can see price has been […]

Read More
September 21, 2020
Trade Setups on Falling Markets This Week

EUR/USD Bearish GBP/USD Bearish AUD/NZD Bearish XAU/USD Bullish SPX500 Bearish EU struggles to pass 1.2000s as US markets fall from overvalued prices in the stock market. The pair is back in a support zone showing that price wants to go lower. A break in that support zone (which is a common pattern we see in […]

Read More
September 20, 2020
Markets Make Lower Lows, Tesla Battery Day, What to Expect

Last week was rough for the market as the S&P and Nasdaq draw lower lows on the daily chart. The Dow Jones Industrial was the only index to look in the best shape as tech continues to fall under pressure. The main drivers for the market, which have been carrying pairs like GBPUSD and EURUSD, […]

Read More

Related Articles

August 28, 2020
Economic stimulus and the Role of Central Banks

Politics preventing new financial stimulus The economic recovery in the major global economic powers depends on several important factors. One of the most vital part, the spread of the virus and the government's answers to it. With a decrease in daily cases of COVID-19 to 50,000 in the U.S.A. Yet U.S. A remains the most […]

Read More
August 26, 2020
How to Spot a Scammer

Our team has received many reports of scammers using our content and pretending to be us. Unfortunately, these accounts are difficult to shut down as there are many that we do not know of. While we will continue to do our best to get these accounts shut down as we receive reports, we are unable to […]

Read More
August 22, 2020
Legends of Investing - The Story of Warren Buffet

Warren Buffett is one of the most idolised, investors in the world. At the time of writing , his company, Berkshire Hathaway, has a market cap of $495 billion and Buffett himself has a net worth of $79 billion. His approach to value investing, combined with his influence over the companies he invests in , […]

Read More

A1 Trading Company

A1 Trading Company is a financial services and media business founded in Atlanta, USA.
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram