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AlgoFX

Severe riskForex / CFD broker
🇺🇸 United States · 2-5 years · since 2024-03-12 · AlgoFX
Unregulated
Visit site ↗
—/5
★★★★★ ★★★★★
1 reviews ›
0
Licenses ›
2
Withdrawal issues ›
—
Min. deposit ›
—
Max leverage ›
0
Account types ›
75/100
Scam risk ›
0
Clone sites ›
▲ 0% positive▼ 100% negative
Independent ratingshow third parties score this broker
WikiFX1.36/10
Trustpilot—/5
Forex Peace Army—/5
🛡️ Been scammed or can’t withdraw from AlgoFX? Our free assistant writes up your case and shows exactly what to do next →
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No sign that AlgoFX actively operates in your country (United States). If you were solicited from here, be extra cautious — it may be an unregulated approach or a clone.
75
Severe risk
Scam Risk Scoremonitored · 2026-07-28
Lower riskHigher risk
  • No verified regulatory license on file
  • Withdrawal complaints in ~200% of recent reviews
  • No verifiable website or social-media presence
How this score is calculated — view the open algorithm

A transparent weighted score from objective public data — each factor scored 0–100 (higher = riskier), combined by the weights below.

FactorScoreWeight
Regulation & licensing8535%
Company age4515%
Clone / impersonation012%
Withdrawal & exposure complaints2412%
Offshore registration108%
Transparency (site/info/social)7510%

Based on public regulatory records, industry databases and independent reviews (Trustpilot, Forex Peace Army). Exit Risk reflects recent negative momentum in real reviews. A risk estimate from public data, not a definitive legal judgment; brokers may request a correction.

Company
Legal nameAlgoFX
Headquarters🇺🇸 United States
Founded2024-03-12
Years operating2-5 years
Employees0
Official websitealgofx.live
Trading conditions
Avg execution speed0 ms
Avg slippage0
Swap rating—
Trading cost rating—
Monitored traders0
Monitored orders0
Funding & instruments
Deposit methods—
Withdrawal methods—
Instruments—

Regulation & licenses · 0

No valid regulatory license found — high caution advised.

Review analysis AI

AlgoFX is an unregulated broker with no verifiable track record. The combination of high leverage, new establishment, and lack of regulatory oversight makes it a highly risky choice. Traders should exercise extreme caution and consider only regulated alternatives.

Best for
  • Traders willing to take extreme risks
  • Experienced traders understanding unregulated entities
Not for
  • Risk-averse traders
  • Those requiring regulated protection
  • Beginner investors
Period:
What users complain about
Where reviewers are from
Taiwan1

Real user reviews

Where AlgoFX operates

Based on its licenses and complaint records.

🇹🇼 Taiwan 1 complaint

Market presence: WikiFX SkyEye · complaints: our records · licensing: official registers. Where you’re accepted is set by the broker’s own terms — always confirm before depositing.

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About AlgoFX

About AlgoFX

AlgoFX is a newly-established broker registered in the United States, incorporated on March 12, 2024. The company describes itself as a trading platform offering forex pairs, gold, silver, oil, and gas with leverage up to 1:500 via the MetaTrader 5 (MT5) platform.

Regulatory Status

According to our records, AlgoFX currently holds no valid regulatory licences from any recognized financial authority. This lack of oversight means traders have no access to formal dispute resolution or compensation schemes, which significantly increases the risk profile.

Trading Instruments

The broker states it provides access to forex pairs as well as commodities including gold, silver, oil, and gas. These instruments are typical of retail CFD brokers, but without regulatory confirmation, the actual trading conditions remain unverified.

Platform and Leverage

AlgoFX offers the popular MetaTrader 5 platform, which is widely used for forex and CFD trading. The advertised maximum leverage of 1:500 is high and risky, particularly for retail traders, and would not be permitted by most regulated jurisdictions.

Risk Assessment

Given its recent establishment and absence of regulation, AlgoFX presents a severe risk to traders. FXCanary's Scam Risk Score of 75/100 indicates a high likelihood of potential issues, including difficulty in fund withdrawals or total loss.

Overview compiled by FXCanary from regulatory records and public data. full AlgoFX review