Hugosway Review

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Hugosway LogoHugosway is close to a utopian Laissez-faire world of trading products. The ECN trading brand is new to the market and it brings about a gush of fresh wind in the form of flexible lot sizes, low minimum deposits, generous leverage, tight spreads, quick transactions, Hugo Insights, 24×7 trading with analytics, and a responsive customer support team. Being a new brand, it works on every classic complaint that traders have with well-established brokers.

However, its newness doesn’t comprise its spread and users can experience ultra-tight pips even during volatile market conditions. This is achieved due to Hugosway’s unique order execution model called Straight Through Processing, which relays order directly through a “pool of top-tier liquidity financial institutions”; popularly known as Dark Pool Liquidity. Many other standalone features make Hugosway a brand worth trying for avid traders. This article explores the highs and lows of Hugosway and how well it targets the expectations of millennial traders.

Registration, KYC Norms, and Privacy Policy

Hugosway is self-regulated and doesn’t operate under any government-license. However, it complies with global anti-money laundering laws and requires KYC documentation from high-value traders. The registration process is simple and you need a valid phone number and email id to get started. For small-volume traders, the platform doesn’t require any KYC verification. However, retail and big-volume traders have to go through a KYC verification process that includes sharing your identity proof, address proof, and bank details proof.

Asset Verticals in Hugosway

Hugosway has several asset classes for trading with generous leverage on almost all instruments. All markets are live 24×7, except for stocks and indices. Most instruments also have a wide range of order sizes. You can start trading with full leverage ratios with as little as $10. There is no limit on the upper side and you can trade between ultra-tight pips that are close to 0.

It is great for traders who rely on spread management strategies and can quickly book profits on micro price movements. Hugosway exceptional liquidity remains a key edge for all of its trading instruments.

  • Forex Forex remains the mainstay of Hugosway and it offers a comprehensive portfolio of fiats and crosses between them. Almost all major currencies like Dollar, Euro, British Pound, Australian Dollar, Canadian Dollar, New Zealand Dollar, Japanese Yen, and Swiss Franc are available for trading. You can find a wide range of combinations with rare ones like CHF-JPY, NZD-JPY, and AUD-NZD in the major forex category.
  • Exotic Forex – Hugosway offers rare trading opportunities in many exotic currencies like Turkish Lira, Norwegian Krone, Swedish Krona, Russian Ruble, Chinese Yuan Mexican Peso, Poland zloty, South African Rand, Hong Kong Dollar, Israeli New Shekel, Hungarian Forint, and Singapore Dollar. All these currencies are coupled with either USD or the GBP for higher liquidity.
  • Crypto Currencies – One of the biggest game-changers in recent times is the development of the cryptocurrency trading market. Hugosway is a big name in this niche, offering the first big crypto-brokerage brand for trading across 30 different cryptos. Users can trader via USD or through high market-cap cryptos as well. BTC is the most active counter among cryptos and you can find several popular pairs with BTC.
  • Metals – Hugosway has a metals portfolio consisting of Gold, Silver, Platinum, Copper, and Palladium. The dollar is the reference currency while trading in metals.
  • Indices – Traders can choose from a number of popular indices from all over the world like AUS200, JPN225, ESP35, NAS100, EUSTX50, SPX500, FRA40, UK100, GER30, US30, and HKG50. The indices are available in the form of ETFs and are time-bound according to the individual market timings. The one big advantage is the ability to trade in micro-lots but still, enjoy high levels of liquidity.
  • Stocks – Hugosway brings out some of the most traded companies on global stock markets for trading. The brand provides up to 40x leverage on bracket orders with intraday validity. Loosely based on by Robinhood’s Preferred Liquidity Model, the orders of Hugosway are clubbed together with big pools of orders from banks and other financial institutions. This gives you blazing fast speed on your order execution time and you can even trade with automated strategies without worrying about liquidity. Notable stocks on the Hugosway list are Netflix, AT&T, Oracle, Banco Santander, Procter & Gamble Co., Microsoft, Visa Inc, Twitter, and Siemens.

Banking Methods in Hugosway

Banking in Hugosway is quite tight and expensive. While other online brokers offer flexible banking solutions in the form of multiple gateways and extended limits, Hugosway has taken a big step backward in this regard. Users can deposit funds in Hugosway through credit/debit cards (up to a limit of $600 per transaction), Online Banking ($25 charge for deposits of up to 5K), and VLoad (a voucher-based gateway).

Hugosway Advantages

For withdrawals, the best way in Hugosway is wire transfers to a nominated bank account. Users do need to verify their personal details before making a large cashout request. The total deposit made by a user will be returned to the original source of payment.

The profit component will be transferred to a bank account/card for a $25 charge on withdrawals up to $5k. It may take up to 6 days for the funds to reflect on your bank account via wire transfers. Cryptocurrency transactions require a small mining fee to be processed which is charged from the end-user.

Spreads in Hugosway

Hugosway is slowly mastering the art of lowering its average spread. The average spread for FX Major Forex ranges between 0.6-1.0. Cryptocurrency is the most volatile with a spread ranging between 0.15-800. The BTC-USD spread on a normal trading day is less than 30. FX Cross has spread near 1 while indices have an average pip of 2-4.

Trading Platform of Hugosway: Meta Trader 4

Hugosway uses one of the most powerful forex trading software; the Meta Trader 4 Web Trader. Developed by MetaQuotes Software, it is used by several top brokers across the globe. The MT4 is seamlessly integrated with the Hugosway platform so you can directly execute your trades on Hugosway.

Platforms MobileThe MT4 is quite advanced in terms of features and it lets users create complex strategies through many indicators, signal-generators, trailing stop-loss orders, bracket orders, tick charts, and trading history. It boasts of more than 200 indicators that can be plotted over advanced charts like candlesticks, bars, colored bars, line break, Renko, Heikin Ashi, range bars, and log scale.

Moreover, MT4 offers advanced features for automating your trades according to your unique strategy. You can also copy trades of expert traders on board. Meta Trader has a broad community of traders that regularly engage to discuss their trades and the platform. You can be part of a global trading community on the MT Community of Traders. The MT4 mobile app is available on both Android and iOS for a mobile trading experience.


ApprovedHugosway is a complete trading package for every kind of trader. Except for its strict banking policy and higher-than-average commissions, the brand has no notable con. We found the high liquidity and tight spread to be the two unique selling points of the brand. It is also one of the few online brokers offering conventional trading instruments along with crypto-currencies.

For the beginner level trader, the advantages are low deposit limits, micro-lot sizes, and high liquidity. The platform is more tilted towards mid-level and advanced traders. Advanced traders get a lot of opportunities due to high leverage, trailing stop losses, and a wide range of trading instruments. We also appreciate the choice of MT4 as its trading engine as advanced traders can automate their traders and form complex strategies. All in all, Hugosway is a great change towards a seamless trading experience.

Is this your final decision?

We suggest you visit one of the most popular trading platforms instead!


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General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.

7 Binary Options review: Hugosway: 4 stars

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