Hugosway Broker Review 2023- Is Hugosway Legit?

Photo of author

In this article, we will do a complete review of Hugosway Broker. Hugosway is an ECN broker. Hugosway was founded in 2017. This means that it is relatively a young broker company. Due to being this young Hugosway hasn’t won any awards but does provide great customer service. Is Hugosway Broker a legit broker? We will cover this in detail.

Below is the summary of Hugosway Broker.


Assets Available7 Asset Classes Available – Forex, Cryptocurrency, Metals, Indices, Stocks, Futures, and Energies
Regulated ByNo Regulations
No. of Trading Platforms1 Main Trading Platform – Metatrader 4 ( Works on Mobile, Web, PC, and Mac)
LeverageUp to 1:500
Hugosway Minimum DepositRequires a minimum deposit of $10
SpreadsVariable spreads starting from 0.1 pips ( Floating Widespread )
Education ProvidedVery basic insights and tips on trading.
Methods of PaymentCredit Cards, Bitcoin, and Bank Wire Transfer.
AwardsNo Awards

Trading Platforms

This broker only provides you with one main trading platform based on the MetaTrader 4 (MT4) Platform. With the MetaTrader 4 platform, you can trade on the web, desktop, mac, and mobile (both Android and IOS). There are other brokers who provide you with much more options. We do expect Hugosway to provide you with MetaTrader 5 (MT5) platform in the future. MT5 is the successor of MT4. But MetaTrader 4 is a great trading platform and can be the only trading platform you need for trading.

MetaTrader 4 Platform

Hugosway Broker Review - Is Hugosway Legit?
Figure 1: MetaTrading 4 platform

Hugosway only provides a platform based on MetaTrader 4. MetaTrader 4 is a great platform but MetaTrader 5 is a better platform. MetaTrader 4 does have all the indicators and features to help you become profitable. Also, metatrader4 supports expert advisors for automated trading. If you are interested in learning more about the MetaTrader platform check out our complete guide.

Instruments Available For Trading

There are 7 Asset classes that are available for trading with Hugosway. These are forex, stocks, cryptocurrency, metals, indices, stocks, futures, and energy.


Contains all major currency pairs, cross-currency pairs, and exotic currency pairs that you can trade with. The spreads are variable depending on the currency pair you will be trading. The major currency pairs provided by Hugosway are as follows.

Fx Majors

There are 7 major currency pairs.


Fx Minors

There are 21 cross-currency pairs


Fx Exotics

There are 27 exotic currency pairs.



There are several stocks that you can trade with Hugosway, such as Apple Inc (AAPL), Airbnb (ABNB), and much more. They do provide you with all the popular stocks that you can trade.


Hugosway provides a range of cryptocurrencies that you can trade. These include BTCUSD, ADUSD, DASHBTC, DOGEUSD, DOTUSD, and much more. For cryptocurrencies, there are other brokers that provide you with more options. This broker might not be ideal for cryptocurrency trading.


There are 4 precious metals that this broker provides you with. These are XAGUSD, XAUEUR, XAUUSD, and XPTUSD.


There are several indices that you can trade with Hugosway. Some of these indices are AUS200, ESP35, GER30, and UK100.


Hugosway provides you with a way to trade in the Futures market. The only future asset they provide is the dollar.


The energies you can trade with this broker are only UKOIL and USOIL.

Commissions And Spreads

The commissions and spreads are quite variable depending on the market conditions. The spreads provided by Hugosway are floating widespread depending on the market. If you are interested in learning about spreads check out this article.

Leverage Provided

Hugosway provides leverage up to 1:500. As always we do not recommend anyone to trade with this amount of leverage unless, of course, you are a master trader trading for 5+ years profitably.

Education Provided

Does provide very basic insights and tips on how to use its platform. Also some basic tips on trading in their blog. But we personally do not recommend education provided by brokers because it can be basic which will not give you an edge in the forex market. This is not a factor we consider when choosing the right broker.

Demo Accounts

Hugosway does provide a demo account. You can start a demo account with a balance of $1000, $10000, $100000, and $1000000. If you are planning to start a demo account with $1 Mil do not ever do it. Always start the demo account with the same amount of money you have to invest in a real account.

Methods Of Payment (Deposit & Withdrawal)

Hugosway broker provides you with several ways to deposit and withdraw your money. These methods include Credit cards, debit cards, bank wire transfers, and Bitcoin. You can trade with Hugosway with a minimum deposit of $10. If you deposit using Bitcoins via instacoins you need to deposit at least $50.

Hugosway Broker Review - Is Hugosway Legit?
Figure 2: Customer support

Customer Support

A great thing about Hugosway is that they provide 24/7 customer support. This can be very helpful for any trader. If a trader has any trouble with their platform they can contact Hugosway customer support through the live chat.

Regulations – Is Hugosway Broker Regulated?

Hugosway is not a regulated broker. We personally don’t recommend Hugosway. Nonregulated brokers are not trustworthy. So it’s better to stay away from Hugosway brokers until they get regulated. There are much better brokers who are highly regulated.

Is Hugosway a Legit Broker? – Hugosway Broker Review

Hugosway does provide great tools and customer support for traders but they fail at one important thing that a broker should have. That is being regulated. Hugosway is not a regulated broker. You cannot trust an unregulated broker. If you want a great broker we recommend you to check out the brokers below who are highly regulated. We hope that Hugosway will try to get regulated as soon as possible.

Top Forex Brokers

Visit Site

Read Review
XM is one of the top recommended brokers. XM gives you a platform for world class trading experience.
avatrade logo 1Visit Site

Read Review
AvaTrade is a great broker. One of the best brokers for Forex Trading.
xmlogo 1Visit Site

Read Review
eToro is great broker as well. It has a wide range of assets that you can trade with.

Leave a Comment