algofxtrade Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-11-20 16:39

Abstract：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 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
Customer Support	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
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.