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


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City Point, Marxergasse 1B, 1030,


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

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Warning: Low score, please stay away! 2
Previous Detection : 2024-05-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

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algofgain · Company Summary

General Information& Regulation

Algofgain is an emerging online broker that multi-asset trading in premium trading conditions and support, additionally, it was registered in Austria with the specific registered address at City Point, Marxergasse 1B, 1030.

Official Website Unavailable

We could not get relevant information due to failing to visit the official website, besides, the information is not available on other websites as well, thus, clients only take a poorly-conceived browse.

Market Instruments

There are considerably an array of trading products including Forex, Stocks, Commodities, Indices, and Cryptocurrencies.

Accounts & Leverage

There are four accounts available for the clients including BEGINNER Account, INTERMEDIATE Account, PRO Account, and LUXURY Account. Each account has various minimum deposits and leverage. For instance, in the BEGINNER Account, the minimum amount is €250, besides, if clients would like to open the INTERMEDIATE Account, he or she is required to deposit the minimum amount of €2500, for the PRO Account, it allows the clients to deposit €25,000, moreover, the LUXURY Account set a limit to the minimum amount of €75,000. Concerning the leverage, it varies between 1:200 and even 1:1,000. Beyond imagination, the maximum leverage for the LUXURY Account is capped to 1:1,000.

Spreads & Commissions

The spread for the account varies from account to account, for instance, the BEGINNER Account is as low as 0.1 pips, and the LUXURY Account is up to 1.5 pips. In addition, Algofgain also compensated for its service through commission on the basis of account, for example, the commission for the INTERMEDIATE Account is €0.2/lot, and the commission for the PRO Account is €1.2-€2.3/lot.

Trading Platform

Clients are allowed to apply on a web-based trading platform that possesses a plethora of experts, and advanced tools and features.

Deposit & Withdrawal

The payments method includes Credit / Debit Cards (VISA and MasterCard), Wire Transfer, and OKPay. The withdrawal amount is various in light of the way of withdrawal, for the wire transfers, the minimum withdrawal is $250, while others are $100. there are some invisible fees, such as the levy of 10% of the withdrawal amount, as well as a 10 % dormant fee.

Customer Support

If you have a query about the transaction, please call +43720971702 or e-mail at an appropriate time.

Risk Warning

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose.

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more than one year
I can't believe how algofgain just ripped me off! Their website looked so professional and their customer service seemed so friendly, but in the end, I lost all my money. I hope other investors will learn from my mistake and stay away from algofgain. They're nothing but a bunch of crooks who will take your money and run. I've already reported them to the authorities, and I hope they get what's coming to them. Don't fall for their lies like I did.
2023-03-20 10:07
more than one year
The company algofgain is selling their domain name. Fortunately, I haven't seen anyone saying that they were cheated by this company. Maybe it wasn't a scammer and just went out of business.
2023-03-01 16:06
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