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Global Broker Regulation & Inquiry App

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algofxtrade

United States|2-5 years|
Suspicious Scope of Business|High potential risk|

https://www.algofxtrade.com/

Website

Rating Index

Contact

support@algofxtrdae.com
https://www.algofxtrade.com/
237 W 35th St Suite 602 - 6th Floor, New York, NY 10123, USA.

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Contact number

Other ways of contact

Broker Information

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Company Name

algofxtrade

Abbreviation

algofxtrade

Platform registered country and region

United States

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2024-11-22
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

algofxtrade · WikiFX Survey

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algofxtrade · Company Summary

Algofxtrade Review Summary
Founded2020-12-30
Registered Country/RegionUnited States
RegulationUnregulated
Market Instrumentscrypto
Demo Account/
LeverageUp to 1:500
SpreadFrom variable
Trading Platformalgofxtrade
Min Deposit$250
Customer SupportEmail: 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.

Algofxtrade Information

Pros and Cons

Pros Cons
Leverage up to 1:500Unregulated
Spread from variable10% commission
24/7 live supportInaccessible 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.

Is Algofxtrade Legit?
Is Algofxtrade Legit?
Is Algofxtrade Legit?

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 StarterSilverStandard
Deposit$250-$1499$1500-$4999$5000-Unlimited
Minimum trading volume0.010.010.01
SpreadFrom variableFrom variableFrom variable
Maximum Leverage1:5001:5001:500
Plans

Algofxtrade Fees

The spread is from variable and 10% commission.

Algofxtrade Fees

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.

Deposit and Withdrawal

Customer Support Options

Algofxtrade provides 24/7 live support; Traders also contact the platform via email.

Contact Options Details
Email 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.
Customer Support Options
Customer Support Options

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