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Score

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0 1 2 3 4 5 6 7 8 9
0 1 2 3 4 5 6 7 8 9
/10

AlgoFX

United States United States | 2-5 years |
Questionable Regulatory License | Suspicious Operational Region | High Potential Risk

https://algofx.live/

Website

Rating Index

Contact

https://algofx.live/

license Forex License

No forex trading license found. Please be aware of the risks.

Warning: Low score, please stay away!
  • This broker lacks valid forex regulation. Please be aware of the risk!
2

Basic Information

Registered Region
United States
Operating Period
2-5 years
Company Name
AlgoFX
Email
support@algofx.live
Company Website
Verified Site
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Wiki Q&A
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Official Website

Verified Site

  • algofx.live
    159.223.228.162
    Server Location
    Netherlands Netherlands
    ICP Registration No.
    --
    Top Visitor Locations
    --
    Creation Date
    --
    Website Name
    --
    Company
    --

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AlgoFX

Related Companies

ALGOFX LLC(Florida (United States))
United States
ALGOFX LLC(Florida (United States))
Suspended
United States
Registration No. L22000202405
Est. Date
Source Official Statement

Company Profile

Company Profile

Review summary

Note: TradeBaionics's official website - https://www.tradebaionics.com/ is currently inaccessible normally.

AlgoFX Review Summary
Founded2024
Registered Country/RegionUnited States
RegulationNot regulated
Market InstrumentsCFDs on 70+ forex pairs, gold, silver, oil, and gas
Demo Account
LeverageUp to 1:500
Spread/
Trading PlatformMT5
Min Deposit/
Customer SupportEmail: support@algofx.live
Social media: Facebook, Twitter, and Instagram

AlgoFX is a newly-established broker registered in the United States, offering trading in forex pairs, gold, silver, oil, and gas with leverage up to 1:500 via the MT5 platform. However, it currently has no valid regulations.

Pros and Cons

Pros Cons
Various trading assetsUnavailable website
Demo accounts offeredNot regulated
Multiple account typesOnly accept crypto payments
Popular trading platform - MT5Only email support

Is AlgoFX Legit?

No, AlgoFX operates without regulation. Please be aware of the risk!

No license

What Can I Trade on AlgoFX?

Tradable Instruments Supported
CFDs
Forex pairs
Gold & silver
Oil & gas
Indices
Stocks
Cryptos
Bonds
Options
ETFs

Account Type

AlgoFX offers three account types: Standard, Commission and STP Pro account. It also offers demo accounts.

Leverage

AlgoFX offers leverage up to 1:500. Note that trading with high leverage can lead to huge profits and losses.

Trading Platform

Trading PlatformSupported Available Devices Suitable for
MT5Desktop, MobileExperienced traders
MT4/Beginners

Deposit and Withdrawal

AlgoFX only accepts payments via crypto wallets. Other popular payment options like bank transfers, credit/debit cards, and e-wallets are not available.

Company Profile

  • 2-5 years
  • Questionable Regulatory License
  • Suspicious Operational Region
  • High Potential Risk

Wiki Q&A

Is it risky to trade with AlgoFX?

According to WikiFX data, trading with AlgoFX is associated with an extremely high level of risk, as reflected in its overall score of 1.34, stemming primarily from a complete lack of oversight from any authoritative financial regulator and a defined operating scope that has been flagged as suspicious.

04-02
United States

Which financial regulator oversees AlgoFX?

AlgoFX does not hold any valid forex trading licenses and operates without supervision from recognized regulatory bodies such as the FCA, ASIC, or CySEC, which constitutes a significant absence of investor protection mechanisms.

04-02
United States

Where is AlgoFX registered?

The broker is registered in the United States and has been in operation for between 2 and 5 years; however, this registration does not confer a formal regulatory status for forex and CFD trading activities.

04-02
United States

How should I compare different forex brokers to find the best one?

To compare different brokers, investors can make comprehensive judgments from multiple dimensions such as regulatory qualifications, overall ratings, trading environment, account conditions, and user feedback. In general, priority should be given to regulatory status and license information, followed by WikiFX ratings and various indexes (such as risk control, software, and business indexes). At the same time, trading conditions (such as spreads and execution speed) and account information (such as minimum deposit and account types) should also be compared. In addition, user reviews, exposure records, and risk assessment information can also be considered to evaluate broker safety and trading experience from multiple aspects. The WikiFX platform also provides multi-dimensional broker comparison tools. Users can select different brokers for visual comparison and comprehensive analysis, so as to make decisions more efficiently.

04-02
United States

Apa itu WikiFX dan bagaimana membantu investor?

WikiFX adalah platform pihak ketiga yang menyediakan layanan pencarian informasi broker forex serta peringatan risiko. Platform ini mengintegrasikan informasi regulasi, umpan balik pengguna, dan riwayat operasional broker, serta melakukan evaluasi melalui model multidimensi untuk membantu investor memahami kondisi broker secara lebih menyeluruh.

Two days ago

Bagaimana cara mengidentifikasi broker dengan profil risiko tinggi?

Broker dapat dinilai memiliki profil risiko tinggi dengan mempertimbangkan status regulasi, keluhan pengguna, keamanan dana, serta konsistensi informasi publik yang tersedia. Broker tanpa regulasi valid, yang sering mengalami masalah penarikan dana, atau memiliki banyak keluhan pengguna biasanya menunjukkan tingkat risiko yang lebih tinggi. Informasi tersebut dapat diperiksa melalui WikiFX untuk membantu evaluasi secara lebih komprehensif.

Two days ago

¿Es posible recuperar fondos tras un fraude de inversión?

La recuperación de fondos tras un fraude de inversión puede resultar difícil, pero tomar medidas oportunas puede ayudar a recuperar parte de las pérdidas. Se recomienda conservar registros de transacciones y comunicaciones relevantes, contactar con el banco para intentar detener o congelar los pagos y presentar una denuncia ante las autoridades competentes. Además, los inversores pueden utilizar los canales de reclamación pública de WikiFX para aumentar la visibilidad del problema.

Two days ago

Apa arti broker memiliki beberapa lisensi regulasi?

Broker yang memiliki beberapa lisensi regulasi biasanya beroperasi di berbagai yurisdiksi dan harus mematuhi persyaratan dari beberapa regulator, yang dapat menunjukkan tingkat kredibilitas operasional yang lebih tinggi. Namun demikian, kekuatan pengawasan setiap lisensi dapat berbeda, terutama lisensi offshore. Disarankan memeriksa lisensi dari regulator utama seperti FCA atau ASIC melalui WikiFX.

Two days ago
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User Comments1

All (1) Exposure (1)
sami5168
sami5168
3-5 years
Exposure
I can’t withdraw from this worst broker
I’ve been deposited 6610 USD in this worst broker named Algofx in 21st September, 2023. I purchased the AI softwares from Treedex company and my agent Mr. Luke (Israel nationality) assisted me to install it on my AlgoFX account which is 1000173. I got profits stably and continually daily and the capitals grew up more than 10K USD. The software is really effective definitely, and I tried to withdraw 100 USD on 20th October, 2024 and it was successful. I tried to withdraw 2000 USD and 5000 USD separately to my Binance account and bank account on 7th December, 2023, then I cancelled the withdrawal of 5000 USD and change the withdrawal amount to 6000 USD on 8th December, 2023. Since then, the broker has never replied my withdrawals until now. I even texted messages to the Chat and sent emails to the support without any responses until now. It’s 22nd March, 2024 now, and this worst broker declined my 2 withdrawals and didn’t reply me the reasons why my 2 withdrawals were declined. I tried to withdraw 2000 USD on 22nd March, 2024 again to my Binance account and will see how this baddest broker will do in the coming future. I need the assistance from WikiFX Global Customer Service. Please help me get my capitals back minimum 6,510 USD, and even the profits the AI software has traded for me automatically in the coming future this year. The evidences are shown in the following screenshots and hope I will get my money back ASAP.
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※ WikiFX compiles data from publicly available sources and user contributions. While we endeavor to maintain its accuracy, we do not warrant the information's completeness, accuracy, or timeliness, as it may become outdated. Investors are strongly advised to verify critical details with official sources before making any decisions.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qa@wikifx.com
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