The website is operated by Hugo’s Way Ltd, which is incorporated in St Vincent and the Grenadines. The company is governed by the laws of St Vincent and the Grenadines, but it is not authorized and regulated by any major financial body. The company strives to provide its clients with the best support, care and unrivaled service, and the company calls itself a true ECN broker, the website informs. Clients can trade CFDs on forex, commodities, and cryptocurrencies with floating spreads through the popular MetaTrader 4 (MT4) platform. The lack of regulation allows the company to offer leverage up to 1:500. The minimum required deposit to start trading is just USD10.


It is important to know if and where the company is regulated. Unfortunately, the company Hugo’s Way Ltd, which stands behind the brand is not authorized and regulated by any financial supervisor. About the safety of client funds Hugo’s Way Ltd claims that all client funds are held in an independent bank account either under the name of the respective client or under the broker’s name. Client funds will never be used to pay creditors in the unlikely event that Hugo’s Way can no longer continue to operate, the website claims.

No matter what the company claims, there is no official financial authority to regulate and supervise Hugo’s Way Ltd, so be careful if you decide to open an account here. By comparison, EU-regulated brokers are required to report all trades and follow strict procedures. In addition, they are members of compensation schemes, and their clients will be compensated if they are unable to meet their obligations.

Account Types

There is only one type of live account, so trading conditions are equal for all categories of traders. The minimum initial deposit is just USD 10. The company claims that hedging, scalping, and news trading are allowed. The Margin Call level is 100% and the Stop Out level is 70%. The leverage is flexible and ranges from 1:50 to 1:500 (forex and metals). All trades are subject to a commission of USD 5 per lot traded. Your base account currency can be EUR, USD, GBP, AUD, CAD, and Bitcoin.

What Type of Broker the Company Is?

The company has provided the “Risk Warning” file, which informs that trading financial instruments comes with a significant risk of losses, which could result in more than the initial invested capital. This means that you are not covered by the negative balance protection policy and your potential losses can exceed the amount you have invested. The “Terms and Conditions” document shows that placing of stop loss orders particularly in volatile market conditions, will not necessarily limit your losses to the intended amounts, since market conditions may make it impossible to execute such orders. This means that all types of orders are subject to slippage and stop loss orders are not guaranteed.

The same document informs that Hugo’s Way may act as the counterparty to the customer for any trade entered for the undersigned’s account. This means that despite the company calling itself a true ECN brokerage firm, it can act as a market maker on its own discretion. The company may keep the risk to itself and not to transfer part of the orders. In this case, the conflict of interest exists.


In addition to usual fees there also is an inactivity fee. You will be charged a USD 10 inactivity fee or equivalent in the alternative currency if you have not traded within the last 6 Months.

Deposits and Withdrawals

The company says it is constantly adding new funding methods, but the current ones are via Bitcoin (free of charge), Bitcoin if you want to buy it from a third-party by redirecting from the website, and via VLoad using a voucher issued by the company (5% fee). The minimum deposit amount is USD 50 via Bitcoin and USD 10 via VLoad. Depositing directly through Bitcoin may take up to 6 hours depending on the Blockchain (3-6 confirmations are needed) while funding through VLoad is instant.

The minimum withdrawal amount is USD 10. If you have deposited by Bitcoin or Debit/Credit Card to purchase Bitcoin via a 3rd party platform – you will need to send that same amount of Bitcoin back to your Bitcoin Wallet address before using any alternative withdrawal methods as part of the company’s closed-loop policy. Vload deposits must be withdrawn back to your Vload account, but any additional profits can be withdrawn via Bitcoin. The company processes withdrawal requests within 24 hours.

Trading Platforms

You can trade via one of the most modern trading platforms worldwide – MetaTrader 4 (MT4). МТ4 offers traders at all levels its advanced technical analysis, flexible trading system, algorithmic trading and expert advisors, as well as mobile trading applications. In addition, its simple design and excellent user interface ensure the smooth implementation of any trading strategy, regardless of complexity. There is a variety of market, pending and stop orders, as well as trailing stops, so you can trade regardless of the current market situation.


Forex – More than 50 major, minor, and exotic currency pairs can be traded. The typical spread for the EUR/USD pair is 0,5 pips,

Metals – Gold, Silver and Platinum. The typical spread for Gold is USD0.19.

Energies – Crude Oil and Brent Oil are available for trading. The average spread for Crude Oil is USD0.087.

Indices – You can trade 10 CFDs on the most popular major and minor indices globally, such as US30, SPX500, and UK100. The average spread for DAX index is EUR 1.40.

Shares – You can trade more than 70 CFDs on shares of US companies. 

Cryptocurrencies – 39 of the most used cryptocurrencies are available for trading. The average spread for Bitcoin is USD 107 and for Ethereum it is USD USD8.


Hugo’s Way has no regulation, and you should be extremely careful if you decide to open an account here. It claims to use the STP model to execute orders, although the company may act as a market maker as well. Hugo’s Way provides a variety of assets, and you can trade them via the most popular terminal – MT4. There is one type of live account and the minimum deposit amount is USD10. Keep in mind that the offered leverage of 1:500 imposes a higher risk of losses that can exceed your deposit.



Please enter your comment!
Please enter your name here