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algofxtrade
United States|2-5 years| https://www.algofxtrade.com/
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algofxtrade
algofxtrade
United States
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- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
WikiFX Verification
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | $250 - $1499 |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 lot |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | $1,500 - $4,999 |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 lot |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | $5,000 - Unlimited |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 lot |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
- Fundamental Item(A)
- Total Supplementary Items(B)
- Debt Amount(C)
- Non-Fixed Capital(A)+(B)-(C)=(D)
- Relative amount of risk(E)
- Market Risk
- Transaction Risk
- Underlying Risk
Capital
$(USD)
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algofxtrade · 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. |
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