In this paper, a multiuser two-way filter-and- forward relaying scheme for wireless communication over wideband channels is considered. We propose pre/post-rake processing in conjunction with optimized filtering at the relay to reduce the signal processing burden at the source and destination nodes. Two relay filter design problem formulations are introduced, namely (a) a convex optimization problem formulation with closed-form solutions and (b) the more general case, which is a non-convex problem solvable via an alternating optimization algorithm. For both design alternatives widely linear formulations are devised. The presented numerical results demonstrate the capability of the proposed designs to establish reliable two-way communication links between nodes with limited signal processing power and in the absence of a direct link.