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Loyalty Algo

Loyalty Algo | 2024-10-10 11:30

Resumo：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.

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	✔	Reliable and works with both Android and iOS devices. One-touch trading. Various order types. Instant access to over 300+ tradable assets.	Beginners and intermediate traders who are looking for a simple and easy-to-use platform.
MT5	✔	Reliable and works with both Android and iOS devices. One-touch trading. Various order types. Instant access to over 300+ tradable assets.	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
Email	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.