Score
algofxtrade
United States|2-5 years| https://www.algofxtrade.com/
Website
Rating Index
Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
1M*ADSL
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
United States
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskAccount Information
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Website
algofxtrade.com
Server Location
United States
Website Domain Name
algofxtrade.com
Server IP
199.188.200.213
Company Summary
| Algofxtrade Review Summary | |
| Founded | 2020-12-30 |
| Registered Country/Region | United States |
| Regulation | Unregulated |
| Market Instruments | crypto |
| Demo Account | / |
| Leverage | Up to 1:500 |
| Spread | From variable |
| Trading Platform | algofxtrade |
| Min Deposit | $250 |
| Customer Support | Email: support@algofxtrade.com |
| Live Chat | |
Algofxtrade Information
Algofxtrade is a crypto platform with a maximum leverage of 1:500. The broker also provides 3 major investment plans distinguished by different deposits. The minimum spread is from variable and the minimum deposit is $250. Algofxtrade is still risky due to its unregulated status, high leverage, and inaccessible office website.
Pros and Cons
| Pros | Cons |
| Leverage up to 1:500 | Unregulated |
| Spread from variable | 10% commission |
| 24/7 live support | Inaccessible office website |
| Unspecific fee and account information |
Is Algofxtrade Legit?
Algofxtrade is not regulated, even though it claims to be regulated by FCA and CYSEC. However, an unregulated broker is not as safe as a regulated one.
What Can I Trade on Algofxtrade?
Algofxtrade provides crypto to trade.
| Tradable Instruments | Supported |
| Crypto | ✔ |
| Commodities | ❌ |
| Stocks | ❌ |
| Precious Metals | ❌ |
| Shares | ❌ |
| ETFs | ❌ |
| Bonds | ❌ |
| Mutual Funds | ❌ |
Plans
Algofxtrade provides 3 major plans with different deposits to choose from: Starter, Silver, and Standard. Traders with a small budget can choose a starter account.
| Plan | Starter | Silver | Standard |
| Deposit | $250-$1499 | $1500-$4999 | $5000-Unlimited |
| Minimum trading volume | 0.01 | 0.01 | 0.01 |
| Spread | From variable | From variable | From variable |
| Maximum Leverage | 1:500 | 1:500 | 1:500 |
Algofxtrade Fees
The spread is from variable and 10% commission.
Leverage
The maximum leverage is 1:500 meaning that profits and losses are magnified 500 times.
Deposit and Withdrawal
Deposit and withdraw with a minimum deposit of $250 through Bitcoin.
Customer Support Options
Algofxtrade provides 24/7 live support; Traders also contact the platform via email.
| Contact Options | Details |
| support@algofxtrade.com | |
| Live Chat | ✔ |
| Supported Language | English |
| Website Language | English |
| Physical Address | 237 W 35th St Suite 602 - 6th Floor, New York, NY 10123, USA. |
Keywords
- 2-5 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- High potential risk
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