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Hugos Way

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Operating status: SCAM

Website: https://www.hugosway.com/

Broker violations and abnormal records
  • 2025-08-05 BrokersView has found that Hugo's Way appears to be a scam

    According to its website, it is located in Cyprus. Upon investigation, no matching information was found in the Cyprus Securities and Exchange Commission (CySEC).

    In essence, Hugo's Way is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. Hugo's Way appears to be a scam.

    According to its website, it is located in Cyprus. Upon investigation, no matching information was found in the Cyprus Securities and Exchange Commission (CySEC). In essence, Hugo's Way is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. Hugo's Way appears to be a scam.
  • 2025-11-06 The Seychelles FSA issues a warning against Hugo's Way

    On Nov 7, 2025, the Seychelles Financial Services Authority (Seychelles FSA) issued a warning against Hugo's Way for the lack of the required authorization. https://fsaseychelles.sc/media-corner/regulatory-updates/warning-unauthorised-activity-under-the-virtual-asset-service-providers-act-2024-and-securities-act-2007-as-amended

    On Nov 7, 2025, the Seychelles Financial Services Authority (Seychelles FSA) issued a warning against Hugo's Way for the lack of the required authorization. https://fsaseychelles.sc/media-corner/regulatory-updates/warning-unauthorised-activity-under-the-virtual-asset-service-providers-act-2024-and-securities-act-2007-as-amended

Related Complaints

Q&A

Hugos Way scam?

Kim Hemson-Struthers
South Korea
2025-08-06
ANSWER Dear Investor, Hugos Way is considered as a fraudulent operation. The company currently claims to be based in Seychelles, however, Hugo’s Way Ltd. is not listed as a licensed entity by the Seychelles Financial Services Authority (FSA), indicating that it operates without authorization in this jurisdiction. Previously, Hugos Way, also known as HugoFx, had also claimed to be registered in Saint Vincent and the Grenadines. Our searches indicate that while there was once registration information for the company with the Financial Services Authority (FSA) of Saint Vincent and the Grenadines, it has since been marked as cancelled. It is important to note that even if it were still registered, the SVG FSA does not regulate foreign exchange trading activities. Additionally, the Comisión Nacional del Mercado de Valores (CNMV) in Spain has issued a warning that HugoFx was offering financial services or products without the necessary authorization. Given these serious regulatory issues and warnings, we strongly advise against engaging with Hugos Way or any associated entities.
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