Algobit, Ltd. has been flagged by Commodity Futures Trading Commission for "Other". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I lost a significant amount because Algobit, Ltd. did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Demo account available|Real-time alerts
Cons: Website design could be more modern
For anyone considering Algobit, Ltd., please be aware that this company has been flagged by Commodity Futures Trading Commission. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.
Pros: Information is publicly available for verification
Cons: Flagged by international regulators|Due diligence required
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Algobit, Ltd. recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Clear documentation|Clean UI|Educational resources|Market news feed
Cons: Research section could be deeper|No live chat on mobile
I was contacted by Algobit, Ltd. through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.
Pros: Initially responsive customer service
Cons: Lost entire investment|Reported to authorities|Unresponsive
I invested $500 with Algobit, Ltd. after seeing their professional-looking website. At first, everything seemed fine - they showed me impressive returns on my dashboard. But when I tried to withdraw, they kept making excuses. First it was "processing time," then "verification needed," then "you need to pay a tax fee first." I never got my money back. I have since reported them to Commodity Futures Trading Commission.
Pros: Professional looking website
Cons: Blocked my account|No legitimate license|Fake returns
The reporting at Algobit, Ltd. is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Regular platform improvements|Multi-currency support
Cons: Some tools only available on higher tiers
I was about to invest with Algobit, Ltd. but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Commodity Futures Trading Commission has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
I opened an account with Algobit, Ltd. for a few weeks now ago. The platform frequently logs you out, orders fail to execute at the stated price, and when you complain they blame your internet connection. I have screenshots proving otherwise.
Pros: Copy trading available|Demo account available
Cons: No crypto staking
The mobile app from Algobit, Ltd. is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Easy withdrawals|Good analytical tools
Cons: Would like more payment methods|Currency conversion fee exists