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Scam Broker Review

HugosWay Review 2023: Can you trust this forex broker?

Broker status Unregulated Offshore Broker
Regulated by Unlicensed Scam Broker
Scammers Websites HugosWay.com
Blacklisted as a Scam by No Info
Owned by Hugo’s Way Ltd
Headquarters Country Saint Vincent and the Grenadines
Foundation year 2020
Supported Platforms MT4, WebTrader
Minimum Deposit $50
Cryptocurrencies Cryptocurrencies, Forex (FX), Commodities, Indices, Shares, Futures
Types of Assets BTC, ETH, XRP (34 cryptos)
Maximum Leverage 1:500
Free Demo Account Yes

Today I am doing a review of the broker HugosWay.  

In choosing a partner with trade in the Forex markets, you need to be as careful as possible.

And I’m going to show you what you need to check, before you start trading with a broker.

I’m doing this NovaTech broker review to show you step by step how to check out a broker before you start trading with it.

These simple steps will help you not to fall into the hands of scammers.

1.First Step – Research the HugosWay forex broker website

The first step is very simple, we need to explore the broker’s website – Here it is:

Research the HugosWay forex broker website

The first thing you need to know before investing with a broker is its license and who regulates it, who owns the brand and where the head office is located. This is the security of your investment.

HugosWay broker, founded by Hugo’s Way Ltd, is located in the offshore zone of St. Vincent and the Grenadines, which means there is no license, as there is no official financial regulator in the country.

Besides, there’s a lot of opposite information on the website, and the broker offers affiliate MLM programs, a favorite scam tool of illicit companies.

Also we checked several Tier 1 registries such as FCA, ASIC and BaFin, we did not find any HugosWay regulation. This means that the broker is unregulated and operating illegally. Beware of such companies and never invest your money as you have no guarantee that you will withdraw your profits.

Also remember the names of fraudulent brokers NovaTechFX and OpoForex avoid them at all costs!

2.Check the Traders Opinion

The next step is to check the feedback of traders who have already traded with HugosWay broker.

You can check this information on the authoritative Trustpilot website:


Read Customer Service Reviews of hugosway

As we see, a lot of traders write negative reviews about the broker Hugo’s Way Ltd.

3.Check financial regulation of Hugo’s Way Ltd

So the main question: is HugosWay a scammer or legitimate?

As mentioned, Saint Vincent don’t have a financial regulator. That’s why a lot of newly established brokers are choosing this particular offshore country.

After a thorough check of the FSA register, we haven’t find Hugo’s Way Ltd broker or HugosWay anywhere.

Chargeback Is Your Solution!

A chargeback is the retroactive cancellation and refund of a charge made using your credit card, wire transfer or some other payment methods.

By putting together a compelling chargeback strategy from beginning to end, victims of online fraud have a relatively high probability of recovering some of all of their funds lost.

However, using a trustworthy service such as MyChargeBack is critical in this endeavour as a typical chargeback process can often be complex and drawn out without the right guidance.

Request a free consultation today by clicking the button below!

Free consultation

Have you been scammed by HugosWay?

There is a chance that you have been a victim of fraud by HugosWay or Hugo’s Way Ltd any other illegal broker. Yes, it happens and it’s not the end. There is always a solution! You need to file a dispute and request a refund.

A chargeback is a way for your bank to reverse the transaction if you can prove that you were a victim of online fraud. Since HugosWay is offshore, this process requires knowledge of international processors and international banks. To get help in this matter, contact the professionals – here is the link.


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Author: William Thompson
William Thompson

Copywriter with more than 10 years of experience. Wrote analytical content for one of the largest forex brokers in the world. Works as an editor-in-chief at assistance-refund.com


FAQ Section

  • What Is HugosWay, And Should I Invest Money In It?

    Basically, this is an unregulated offshore trading brokerage you shouldn’t invest with.

  • What Products Does HugosWay Offer?

    HugosWay offers trading with currency pairs, commodities, indices, stocks, cryptocurrencies, and futures.

  • Does HugosWay Have a Downloadable Mobile App?

    Yes, HugosWay offers an MT4 platform as an app for Android and iOS devices.

  • Are My Funds Safe With HugosWay?

    Since we are talking about an unregulated offshore broker, your funds are not safe with HugosWay.