Algo Trade247 has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Do not be fooled by the professional-looking website. Behind the scenes, Algo Trade247 is disorganized and incompetent. I found them through a forum discussion and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Full transparency|Easy to use platform
Cons: Wait times can be long during peak hours|None so far
After spending for about three months trying to make Algo Trade247 work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Full transparency|Multi-currency support|Smooth onboarding|Fast support response
Cons: No fractional shares
Opened my account with Algo Trade247 through a podcast recommendation and regretted it within the first month. The platform crashed during a critical moment, I lost potential gains, and support basically told me it was not their problem. Absolutely unacceptable behavior.
Pros: Excellent charting|Great customer service|Transparent fees
Cons: No dark mode on mobile
Tried to withdraw my funds from Algo Trade247 and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Pros: Initially responsive customer service
Cons: Lost entire investment|Reported to authorities|Unresponsive
The platform at Algo Trade247 is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After for about three months of dealing with this, I have had enough.
Pros: Market news feed|Easy to use platform
Cons: Would like more payment methods
I was about to invest with Algo Trade247 but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Financial Conduct Authority has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Pros: Website looks legitimate on the surface
Cons: Flagged by Financial Conduct Authority|Cannot verify credentials
I referred a friend to Algo Trade247 while looking for alternatives to my previous provider. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Instant funding|Stable platform|Segregated accounts
Cons: No crypto staking|Nothing significant
This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.
Pros: Information is publicly available for verification
Cons: Appears in regulatory warnings database|Uncertain regulatory status
Customer support at Algo Trade247 seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.
Pros: Clear documentation|Wide product range
Cons: Onboarding videos are outdated|Research section could be deeper
Algo Trade247 changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Social trading features|Wide product range|Easy to use platform|Two-factor authentication
Cons: No crypto staking