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No Regulation
Score
1.10 /10
Danger
Loyalty Algo
Within 1 yearSuspicious Regulatory License
High potential risk
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Comparison
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Exposure
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Website
Score
Regulatory Index0.00
Business Index3.82
Risk Management Index0.00
Software Index4.00
License Index0.00
Open Account
Website
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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Warning: Low score, please stay away!
2
Previous Detection :
2024-11-14
- 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!
WikiFX Verification
| Feature | Information |
| Company Name | Loyalty Algo |
| Registered Country/Area | United Arab Emirates |
| Founded Year | 2024 |
| Regulation | Not regulated |
| Minimum Deposit | $100 |
| Maximum Leverage | 1:400 |
| Spreads | Starting from 0.2 pips |
| Trading Platforms | MT4, MT5 |
| Tradable Assets | Forex, Commodities, Futures, Cryptocurrencies, Spot Metals, Spot Indices |
| Account Types | Micro, Mini, Premium, ECN |
| Demo Account | Yes |
| Customer Support | Email only (support@loyaltyalgo.com) |
| Deposit & Withdrawal | Bank Wire Transfer, Credit/Debit Card |
Loyalty Algo Information
Loyalty Algo is a company registered in United Arab Emirates, offers commission-free trading on various assets like forex and commodities. While it boasts user-friendly platforms (MT4 & MT5) and low minimum deposits, the lack of phone support, live chat. In particular, a red flag is their lack of regulatory information from well-known authorities like the FCA. This could put your investment at risk.
Pros and Cons
| Pros | Cons |
| Commission-free trading | Lack of regulation |
| MT4 and MT5 platforms | Offers only email for customer support |
| Offers forex, commodities, futures, cryptocurrencies, and more | Despite offering the tightest spreads (0.2 pips), the ECN account has a commission structure. |
| Only $100 minimum deposit |
Is Loyalty Algo Legit?
Loyalty Algo' regulatory information cannot be obtained, and it is not governed by other well-known regulatory authorities such as the Financial Conduct Authority (FCA) in the United Kingdom or the Australian Securities and Investments Commission (ASIC).
What Can I Trade on Loyalty Algo?
Loyalty Algo offers a variety of trading instruments, including cryptocurrencies, commodities, futures, forex, spot metals, and spot indices.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Indices | ✔ |
| Shares | ❌ |
| Metals | ✔ |
| Commodities | ✔ |
| ETFs | ❌ |
| Crypto | ✔ |
| Bonds | ❌ |
| Futures | ✔ |
Account Type
Loyalty Algo offers four types of trading accounts: Micro, Mini, Premium, and ECN. And offers demo account.
The Micro account is the most basic, with a $100 minimum deposit and a 2-pip spread, while the ECN account is the most advanced, with a $5000 minimum deposit and a 0.2-pip spread.
Mini account and Premium account require a $100 minimum deposit, and the spreads start at 1.5 pips and 1 pips respectively.
Loyalty Algo Fees
Loyalty Algo's trading fees are competitive with the industry, especially for its commission-free offerings.
Trading Fees
The commission and spread structure on Loyalty Algo's platform varies based on the chosen account type. The Micro, Mini and Premium accounts offers commission-free trading with spreads starting at 2 pips, 1.5 pips and 1 pips respectively. For professional traders, the ECN account provides the tightest spreads from 0.2 pips but incurs a commission.
Swap Rates
Except for the Micro account, the other three accounts need swap charges.
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for which type of traders |
| MT4 | ✔ |
| Beginners and intermediate traders who are looking for a simple and easy-to-use platform. |
| MT5 | ✔ |
| Intermediate and advanced traders who are looking for a more sophisticated platform with advanced features. |
Deposit and Withdrawal
The minimum deposit to start trading with Loyalty Algo is $100.
Deposit Options
| Deposit Options | Min. Deposit | Fees | Processing Time |
| BANK WIRE TRANSFER | $100 | \ | \ |
| Credit or debit card | $100 | \ | \ |
Withdrawal Options
| Withdrawal Options | Min. Withdrawal | Fees | Processing Time |
| BANK WIRE TRANSFER | $0 | \ | \ |
| Credit or debit card | $0 | \ | \ |
Customer Service
Loyalty Algo offers limited customer service options. They lack phone support, live chat, and a contact form. You can only reach them via email (support@loyaltyalgo.com).
| Contact Options | Details |
| Phone | None |
| support@loyaltyalgo.com | |
| Support Ticket System | None |
| Online Chat | None |
| Social Media | None |
| Supported Language | English |
| Website Language | English |
| Physical Address | 2602 citadel tower , business bay, Dubai |
| Contact Form | None |
The Bottom Line
Loyalty Algo offers commission-free trading on various assets and user-friendly platforms, but a major red flag is its lack of regulation by well-known authorities. If regulation is not a major problem, Loyalty Algo can be suitable for experienced traders comfortable with a proprietary platform and limited customer support.
FAQs
Is Loyalty Algo a safe trading platform?
No, Loyalty Algo is a relatively new company and is not regulated by any major financial agencies.
Is Loyalty Algo a suitable broker for beginners?
Due to the lack of regulation and limited customer support, Loyalty Algo might not be the best choice for beginners who need more protection and readily available assistance.
Is Loyalty Algo good for day trading?
Loyalty Algo isn't the best choice for day trading. They provide limited customer service, and intraday traders usually need immediate help.
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