Agreed LAF, same can also be said with any “regulated” firm as well. Spread your risk out and don’t put all your cash in one casino. 
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I was looking more into the spreads that are being published on their website, and I think that there is a reporting error. There appears to be a 0004 difference, on average, between the spreads…and this goes both ways.
Since they are using Bitfinex for cryptocurrency, I can cross-check it with real-time spreads. The 0004 difference is not very noticeable for something like XRPUSD pair, since the valuation is much, much lower than BTC. But the BTCUSD pair shows an average spread gap of nearly $9, which is WAY too high. Bitfinex typically has a VERY low spread for this pair…usually around 0.
Likely an API/math error, but it could definitely be hurting their signups. The support rep opened a ticket to address the issue. I will report back when I hear something.
Ever since the BCH madness last week… I’ve been trading BTC & BCH at Evolve, the rest @ Hugo.
Do you use a custom developed EA to copy trades or something like MT4Copier? Does it adjust the position size/lots if the accounts are a different value, or do you have all accounts with the same balance? I want to run a similar setup and spread things out between all the offshore brokers to limit losses if one was to get shut down or have issues. Ideally I would like to enter a trade on MT4 on my phone and then have it mirrored to all the offshore accounts. Thank you!
Do they still entertain US clients, I thought they stopped taking them post 1broker incident
you trade with Hugosway ? I wouldn’t trade with a broker that is JAFX 
1broker and JAFX are lessons from which we should all learn
Yes that is correct and they have all the reasons to do it
But you didnt get the point (s)
something like i can open create a website telling them my name is small paul or vincent for that matter. And you and me both know we really arn’t these names 
so these guys let you sign up without KYCing which other domain providers don’t do.
And right after 10 years hugosway signed up with these - now calling it a COINCIDENCE will be overstretching the poor noun
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exactly same market conditions
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precisely same errors
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same ping speed
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servers resting on the same address in US (the country that busted JAFX )
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AND COINCIDENTALLY the same hosting solution provider
But they do have different addresses. And speaking of the address, hugosway address isnt even real, its PO Box number. and it belongs to these guys https://www.aaainternationalservices.com/ an offshore company set up firm.
I think we should drop the idea of adding them to the broker list like a hot potato
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You can get a free personal trade copier here as long as all mt4 platform on the same computer
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dude have hugosway rip you off, won’t let you withdraw your money, fake spikes causing your trades to close in the negative or manipulate the price / spreads. other then that i don’t give a damn what you talking about.
I do not want to jump the gun, but we may have a serious problem with Hugo’s Way. I am still investigating, but the spreads are either being manipulated or there is a serious API issue.
I know, for a fact, that they do their crypto trading with Bitfinex. I was told this by support multiple times. It is easy to check the spreads in real-time. The spreads that HG are providing appear to be fixed. They are floating spreads, but they appear to be locked in a minimum range. For example, the spreads appear to only be able to reduce to a certain amount. The spread amounts can grow, but the gap can only shrink to a certain amount.
Look at the spreads for XRPUSD, for example, no matter what the bid/ask is on Bitfinex, the bid/ask that they are providing is always around 0.0039 more…and this goes both ways. So, no matter what, there is always a 0.22+% gap, no matter what happens with price action. Not only that, but the gap tends to stay the same…whether the price is falling or climbing, the gap is maintained between the bid/ask, which is not normal behavior. When I say maintained, I mean, by a minimum amount. The gap can grow beyond that amount, but it never seems to decrease below a certain amount.
Check this out:
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For anyone that is unsure, the right side of the images shows the live spreads from HG on their website. I have checked these with MT4, and they are the same. The numbers on the left side are live spreads from Bitfinex.
Let us hope that this is an API error, but even so, I would be super upset if I had been trading with those spreads this whole time.
I will keep everyone updated as I hear back from support.
I refuse to be bullied and dragged into a random conversations that im not a part of. And just because I happen to share the same username. its a mere coincidence. Had I been the real guy I would not sign up with my real name. I would have use a pseudo name like vincent
And I agree with all here that Hugo’sway might have serious issues as im pretty convinced they are with JAFX
geez you none lost you mind 
EDIT: find another hobby life is to short to go that deep
The unfortunate response from Hugo’s Way (excerpt):
we do indeed insert a mark up of the spread (+ 0.11% of the value of BTC per side) that we obtain form Bitfinex which is the reason behind the decreasing of the spread to a certain degree in relation to the value of the Cryptocurrency.
I understand that the higher spread on the MT4 might be discouraging however we do offer additional benefits primarily in the form of leverage. When trading cryptocurrencies with our brokerage we provide a maximum leverage of 1:100 opposed that of Bitfinex of 1:3 which allows clients to not only trade with less funds but increases the potential yield of a trade.
As a business in its own right, Hugo’s Way is required to generate a form of profit in order to remain functional and offer the services that we do. In conjunction with the business model of our company being a broker, this is done in part via the mark up of spreads.
So there it is. Hugo’s Way is marking up their spreads. Nothing that I have found indicates that this should happen. His argument regarding the benefits of higher leverage is rendered moot if the spreads are so bad, and can actually make things worse.
Additionally, the argument regarding broker profitability is very poor considering the fact that they are already charging commissions to trade.
In order for traders to make informed decisions when choosing a broker, these things need to be laid out very clearly. That does not appear to have happened here. This is bad business practice, in my opinion. I did ask if similar adjustments are also being made for their FX markets, but I’ve yet to receive a response on that.
Sigh…
@_METHOS Appreciate your effort…That saved me from wasting time that i was going to put on them for research…Hugo’s Way is not a viable option for me with the information presented above.
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Unfortunately, it is the same for me; I cannot trade cryptocurrency with those kind of markups…at least, not the way that I want to.
Better to know now then deposit funds and find out the hard way.
Yeah, I noticed that the spreads were not that great to begin with, but just assumed that it was only temporary. Knowing that these gaps are permanent makes the decision easy for me. HW support has stated their reasoning, using the added argument that the live spreads are published on their website.
However, I feel that it is important to note, that, as a trader, this kind of information should be clearly laid out. It is important for traders to be able to make informed decisions when choosing a broker. It is also important to establish a level of trust, given the nature of the service that they are providing. By not clearly disclosing something like this, traders may feel deceived. In my case, knowing this beforehand, would have saved me a great deal of time.
To be honest, I am not overly bothered by the lack of transparency. I am just bummed that I will not be able to trade crypto with them. Oh well, maybe it is time to make the jump to FX.
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This was a very solid response honestly. I wish brokers would be more transparent. We are the paying customers and shouldn’t have to jump through hoops to figure out information that should be easily found on their respective websites. Especially when it comes to spread they know as traders we are looking for the lowest spread possible. The fact that you had to jump through loops just to figure out that portion is definitely discerning. Always making sure due diligence is exercised with ANY broker is recommended. I don’t care how long they’ve been in the game it just takes one bad move to mess you up.
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Yeah. At those gaps, you are giving away 22% of your profits automatically if you use max leverage, and that is not even factoring in commissions.