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No Regulation
Score
1.13 /10
Danger
Loyalty Algo
1-2 yearsSuspicious Regulatory License
Suspicious Scope of Business
High potential risk
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Comparison
Expose
Exposure
Open Account
Website
Score
Regulatory Index0.00
Business Index4.07
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!
Previous Detection :
2024-12-29
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
WikiFX Verification
| Loyalty AlgoReview Summary | |
| Founded | 2024-02-21 |
| Registered Country/Region | United Arab Emirates |
| Regulation | Unregulated |
| Market Instruments | Forex/Commodities/Futures/Cryptocurrencies/Spot indices/Spot metals |
| Demo Account | ✅ |
| Leverage | Up to 1:400 |
| Spread | / |
| Trading Platform | MT5(Windows/iOS/Android) |
| Min Deposit | $10 |
| Customer Support | Email: support@loyaltyalgo.com |
Loyalty Algo Information
Loyalty Algo is a newly established forex broker registered in United Arab Emirates, giving traders access to various trading assets, including forex, commidities, futures, cryptocurrencies, spot indices, and spot metals. This broker is still risky due to its unregulated status.
Pros and Cons
| Pros | Cons |
| MT5 available | Unregulated |
| Demo account available | No 24/7 customer support |
| Demo & island account available | Incomprehensive account information |
| Leverage up to 1:400 | |
| Swap from 0 | |
| Various tradable instruments |
Is Loyalty Algo Legit?
Loyalty Algo is not regulated, making it less safe than regulated brokers.
What Can I Trade on Loyalty Algo?
Traders can choose different investment directions because the broker providesforex, commodities, futures, cryptocurrencies, spot indices, CFDs, energies, and spot metals.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Futures | ✔ |
| Cryptocurrencies | ✔ |
| Energies | ✔ |
| Spot Indices | ✔ |
| Spot Metals | ✔ |
| CFDs | ✔ |
| Shares | ❌ |
| Stocks | ❌ |
| ETFs | ❌ |
| Bonds | ❌ |
| Mutual Funds | ❌ |
Account Type
Loyalty Algo has two account types: Demo and Live account. Islamic users are allowed to open Islamic accounts with no swap fees.
| Account Type | Supported |
| Demo Account | ✔ |
| Live Account | ✔ |
| Swap-Free (Islamic) Accounts | ✔ |
Loyalty Algo Fees
Swap free for Islamic accounts and demo accounts.
Leverage
The maximum leverage is 1:400,meaning that profits and losses are magnified 400 times.
Trading Platform
Loyalty Algo has an authoritative MT5 trading platform available in PC and Mac(Windows, iOS and Android) versions. Traders with rich experience are more suitable for using MT5.
| Trading Platform | Supported | Available Devices |
| MT5 | ✔ | PC/Mac(Windows/iOS&Android) |
Deposit and Withdrawal
The minimum deposit is$10. Deposit and withdrawal methods include MasterCard, Skrill, VISA, Neteller, Unionpay, and more.
Customer Support Options
Traders can communicate via Facebook, Twitter, LinkedIn, Instagram, etc. They can also get in touch with traders via email instead of by phone. However, this will reduce the efficiency of consultation. Besides, specifically, customer support schedules are unclear.
| Contact Options | Details |
| support@loyaltyalgo.com | |
| Social Media | Facebook, Twitter, Instagram, Skype, LinkedIn, etc |
| Supported Language | English |
| Website Language | English |
| Physical Address | 2602 citadel tower, business bay, Dubai |
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