algofxtrade
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 |
| 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. |
Read more
RM62k Lost Investment Scam After Joining XRP Community Malaysia on Telegram
A 30-year-old homestay manager from Chendering, Malaysia, fell victim to an online bitcoin investment scam, losing RM62,214.59. According to Kuala Terengganu police chief ACP Azli Mohd Noor, the incident unfolded after the victim joined a Telegram group named “XRP Community Malaysia” on December 19. The group promoted bitcoin investments allegedly powered by Artificial Intelligence (AI).
Russia Turns to Bitcoin for International Trade Amid Sanctions
Russian companies are increasingly using Bitcoin and other cryptocurrencies to bypass Western sanctions and facilitate international trade. The country's Finance Minister, Anton Siluanov, confirmed that cryptocurrencies mined in Russia are now being employed for foreign transactions under an experimental framework.
Hong Kong Stablecoins Bill Boosts Crypto Investments
Hong Kong's Stablecoins Bill sets regulatory standards for crypto issuers and platforms, aiming to protect investors and strengthen the city's crypto investment appeal.
Malaysia Pioneers Zakat Payments with Cryptocurrencies
Malaysia has taken a significant step in modernising religious practices by becoming the first country to enable zakat payments through digital assets.
WikiFX Broker
Latest News
Russia to Fully Ban Crypto Mining in 10 Regions Starting January 1, 2025
WikiFXWhy is there so much exposure against PrimeX Capital?
WikiFXTwo Californians Indicted for $22 Million Crypto and NFT Fraud
WikiFXRM62k Lost Investment Scam After Joining XRP Community Malaysia on Telegram
WikiFXVictims of Financial Fraud in France Suffer Annual Losses of at Least €500 Million
WikiFXWikiFX Review: Is Ultima Markets Legit?
WikiFXColorado Duo Accused of $8M Investment Fraud Scheme
WikiFXWhat Impact Does Japan’s Positive Output Gap Have on the Yen?
WikiFXMacro Markets: Is It Worth Your Investment?
WikiFXMalaysia Pioneers Zakat Payments with Cryptocurrencies
WikiFXRate Calc
