Algobi

( 1.74 )
19 reviews
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This company shows several warning signs of potential fraud.
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Key Highlights Critical Insights
Pros|Cons Details FAQ Reviews Broker Profile
Pros
A large selection of instruments.
Demo account.
Cons
Offshore license.
No foundation date.
High leverage.
Not all trading conditions are disclosed.
No affiliate program.

Company Background

The brokerage company DXA SEYCHELLES LIMITED, which owns this platform, does not disclose its history. According to the company’s information, it is registered in the Seychelles under number 8438281-1 and has an FSA license under number SD218. In addition, DXA Capital Investment Services SA is mentioned in the footer of the website, which is regulated by the Hellenic Capital Market Commission (HCMC). However, it is unclear what the connection is between these organizations.

In today’s review, we will look at the activities of the broker Algobi. We will try to figure out how honest this platform is with traders and whether it is possible to make money here.

Overview of Services and Trading Terms

The company claims that it is “created for traders and offers reliable tools that will support clients at every stage.” According to the website, more than 320 CFD instruments are available for trading via the WebTrader platform and the Algobi mobile app.

The broker offers clients a demo account, but there is no information about the availability of ECN accounts, as well as spreads and commissions.

Algobi provides access to CFDs on stocks, currencies, cryptocurrencies, and commodities. Traders can choose from three types of accounts, which differ only in spread discounts of up to 75% and exchange discounts of up to 60%. Although the company specifies a minimum deposit of $250, this parameter is not disclosed in the trading plans.

It is worth noting that the leverage of up to 1:200 offered by this company is dangerous for trading, as it increases the risk of client losses, which is why it is limited to 1:30 by reputable regulators.

There is no section with training materials or other additional tools on Algobi. Meanwhile, you can contact support via the feedback form on the website or write to the chat, which is available at any time and in different languages.

Referral and Bonus Schemes

There is no information about the affiliate program on the website. However, we found the conditions for receiving a bonus on a trading account in the user documentation. According to Algobi’s terms and conditions, participants receive a reward when they deposit funds into their account. However, you will not be able to withdraw bonus funds until you have made a minimum trading turnover of 300 lots for every $1,000. Please note that you can opt out of the promotion and receiving the bonus to avoid being prohibited from withdrawing your funds if you do not meet the specified conditions.

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FAQ

Is there any income guarantee when trading with algobi.com?

The brokerage company offers clients the opportunity to earn money by trading on the platform. However, it does not give any guarantees or promises of profit.

What amount is necessary to begin dealing with Algobi?

To start trading, you only need to open an account with a deposit of $250. It is worth noting that these are not our recommendations, but the broker's conditions.

What deposit and withdrawal methods are available?

According to the information on the website, traders can use bank cards, accounts, and e-wallets to make deposits and withdrawals.

Is algobi.com a legitimate website?

Yes, we have verified the legitimacy of the site and found that this company is indeed registered in the Seychelles and licensed by the FSA.

Is it like roulette with no guarantee of earning money?

The broker offers CFD trading, which is always risky by nature. In addition, high leverage increases the likelihood of trader losses.
John Hartman - lead author on Scamroulette.com
John Hartman

Although Algobi has a license, it was issued by an offshore regulator that is more focused on attracting companies than protecting their clients. Since the FSA does not require brokers to form compensation funds, segregate funds, provide detailed reporting, or limit leverage, the risks here are high. In short, this broker can engage in malicious actions against traders, and the financial commission will not protect clients from this.

Overall Score

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1.74/5
OVERALL

Based on 19 votes

19 reviews about Algobi

  • Rosemary Hill
    1 review
    30.08.2025 20:53
    I also traded on this platform for several years

    However, I received an email from the company saying that my account had been blocked and my profits canceled for some unknown reason… This happened three weeks ago. Of course, I checked my account, and indeed, the account in the terminal was blocked. Meanwhile, there was more than $6.4 in my account at algobi.com.

  • Timothy Williams
    1 review
    30.08.2025 19:59
    A dubious offshore organization

    A very dubious company, despite the abundance of services they provide and the abundance of reviews available on the Internet. What are my doubts? The fact is that Algobi is purely offshore, and its license is offshore. This has a very negative impact on my level of trust. The fact that they have been operating since 2017 is no guarantee that they won’t disappear tomorrow with your money. So, if you trade on algobi.com, I would advise you to do so very carefully, not to invest large sums, and be sure to withdraw most of your profits.

  • C.Moore
    1 review
    24.08.2025 23:49
    I made good money trading the XRP/USD pair

    I had some problems, financial ones, so I started solving such problems in other ways, that is, I didn’t look for additional income and didn’t waste my precious time on such things, but simply invested money in this platform. I opened an account for $1,200 on algobi.com and started trading crypto assets. Although it took a lot of time and effort, the level of earnings was simply remarkable! I barely had time to close profitable crypto orders! mainly on Ripple, and then I connected the rest of the top altcoins on algobi.com, among which was the particularly promising Bitcoin Cash. In general, I now have a monthly income of about $1,700.

  • M. Cooper
    1 review
    23.08.2025 08:11
    The money was not credited to my card

    I have been waiting for over a month after the broker allegedly withdrew my €3.7k. I feel terrible because my money is not coming back.

  • Jessica
    1 review
    19.08.2025 12:14
    SCAMMERS, give me my money back!!!

    They stole $2,334 of my profits! I traded without advisors, postponing trades by an average of 20 minutes! I did not break the rules! People, do not open an account with this company, otherwise they will steal your money too!

  • Nelson
    1 review
    19.08.2025 09:34
    Fraud and deception of fools!

    Choose another company!

  • Melinda J.
    1 review
    19.08.2025 07:51
    Access to markets is fake

    Was it the right decision to start making money by sending these funds to this site? Of course not. Otherwise, I wouldn’t have lost so much money. I still can’t calculate all my financial losses, as I made several investments, so I invested more than $12 thousand here, that’s for sure, but there were many small trading operations related to the transfer of funds. Where did the money go? The money was lost as a result of investments in various assets, orders for which were canceled by representatives of the resource administration, to put it briefly.

  • Gus Brooks
    1 review
    19.08.2025 01:38
    Save your nerves, don't get involved with this broker

    ALGOBI has no news or adequate support! Constant problems with order execution and it’s impossible to withdraw your invested funds. What are they doing anyway? Maybe all the employees of this broker have already quit??

  • Mr. Perez
    1 review
    18.08.2025 12:50
    This broker is a fraudulent organization

    The company does not pay out profits, citing new and new reasons that do not correspond to reality, such as the absence in the agreement of an imaginary clause on opening blocked transactions and software on the user’s side that allows trading on non-existent quotes.

  • Robert Johnson
    1 review
    18.08.2025 06:31
    I don't blame them for my unsuccessful trades and loss of money

    But I also can’t recommend AlgoBI to anyone. Because customer support could be much better, as could the trading platform

  • Burl Strong
    1 review
    16.08.2025 23:05
    A license does not provide any guarantees

    Is this broker regulated by the Seychelles regulatory authority? Do you think so? Did you know that these are all offshore regulatory authorities that do not perform their main duty, namely regulating relations between clients and brokers? They are just ordinary registrars. In other words, AlgoBI opened a representative office in this region and automatically received a license that means nothing to its clients.

  • Audrey A.
    1 review
    16.08.2025 17:27
    They fooled me

    They took my modest deposit, like a child, without explanation… My pitiful £250 was thrown away… I hadn’t traded for a week, and I only “replenished” my account once when I registered. And then AlgoBI
    blocked my account literally 3 days later, without explanation… All communication was cut off… CRIMINALS!!!!!!

  • Terry G.
    1 review
    14.08.2025 13:32
    Another scam!!!

    They blocked $3,000 of my money. Don’t fall for their promises and made-up stories about traders who got rich!!!!! RUN AWAY FROM THESE CROCODILES!!!

  • Salazar
    1 review
    07.08.2025 00:43
    I have had a negative experience with this company

    Thanks to their poor terminal, I once lost all the money I had invested – $830. The most “remarkable” thing is that none of the Algobi consultants called that day to try to save the situation with my account. They only found out about it from me after the fact. Or they pretended to find out. I lean toward the second option.

  • Kevin Brown
    1 review
    07.08.2025 00:27
    Analysts-scammers

    After I opened an account here, I started getting constant calls from “analysts”. However, at first, I thought they were just giving advice, but then they started aggressively pushing ideas that only led to losses. As a result, I lost more than 85% of my deposit in a month! It seems that these analysts are simply getting a percentage of my losses!

  • Kathleen
    1 review
    06.08.2025 09:35
    Support for many assets

    Who said it’s impossible to make money in the financial market? However, I just managed to make about $1,760 on crypto by simply buying Bitcoin, Ethereum, Litecoin, and selling all these assets at a price 8-15% higher than I bought them for. I should note that I don’t have any special strategies; I always try to read analytics, predict possible developments, and don’t even analyze the chart on algobi.com too much, since the crypto market is still not very regulated. Moreover, as I have seen from my own experience, you can purchase assets at a reduced price from ALGOBI. Don’t forget to be careful, but you also need to take risks sometimes.

  • Antonio Logan
    1 review
    03.08.2025 01:54
    YOU SCUMBAGS, YOU DAMNED BASTARDS!!!

    I turned on the terminal today, the account was blocked, and I can’t withdraw either my earned profits or my deposit of €346

  • Albert Klein
    1 review
    02.08.2025 04:44
    The service has been around for almost 8 years

    I take into account the fact that not all brokerage companies can boast of long-term work over a significant period. ALGOBI can, they give you the chance to become richer if you do everything right, knowing full well that trading the same precious metals leads to daily profits of $50 and above if you don’t try too hard😀 More substantial income requires you to immerse yourself more deeply in all these types of trading activities. For example, I make 7 trades a day, and that’s still not the largest number, as some traders manage to make more than 10 trades on algobi.com

  • Jarrod2020
    1 review
    02.08.2025 00:42
    I am left with only negative impressions

    Customer support seems to deliberately ignore customers when you need to resolve an issue. So I tried to withdraw my money, but was refused. What’s more, the broker gives no explanation, and Algobi employees say, “contact us later.” I am furious! Why do they take people’s money if they don’t want to work honestly?!!

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Broker Profile

License
Offshore
Leverage
1:200
Demo account
Yes
Order Execution Model
DD
Minimum deposit
$250
Licensing Authorities
Questionable Regulator
Investor Protection
Yes
Transparency
Some Hidden Terms
Reputation
Good
Auditing
Not Conducted

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