Algorfinance / algorfinance.net has been flagged by Swiss Financial Market Supervisory Authority for "Other". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. Algorfinance / algorfinance.net said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: No hidden fees|Customizable dashboard|Market news feed
Cons: Limited social trading features
I wanted to transfer my portfolio from another broker to Algorfinance / algorfinance.net. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Tax reports included|Excellent charting|Multiple order types|Economic calendar
Cons: Currency conversion fee exists|Email notifications too frequent
After for a couple of months now with Algorfinance / algorfinance.net, I can only describe the experience as death by a thousand cuts. No single issue was catastrophic, but the constant stream of small problems, slow responses, and missing features wore me down until I finally left.
Pros: Instant funding|Detailed reporting
Cons: Onboarding videos are outdated
My withdrawal request from Algorfinance / algorfinance.net has been pending for over two weeks now. Every time I contact support, I get the same copy-paste response about processing times. This is unacceptable for a financial platform in this day and age.
Pros: Multiple order types|Stable platform|Good mobile app|Real-time alerts
Cons: Alert system is basic|Wish they had more educational resources
Do not use Algorfinance / algorfinance.net for anything serious. I used them for about five months for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Stable platform|Competitive fees|Quick verification|Real-time alerts
Cons: Onboarding videos are outdated
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Algorfinance / algorfinance.net is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Pros: Professional looking website
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
What really bothers me about Algorfinance / algorfinance.net is the disconnect between their marketing and reality. They position themselves as a premium service but deliver a below-average experience. Found them after seeing their ad online and I fell for the polished exterior. Never again.
Pros: No hidden fees|Clear documentation|Good analytical tools
Cons: Minor UI glitches occasionally
I requested my data from Algorfinance / algorfinance.net under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.
Pros: Clear documentation|No hidden fees|Dividend tracking
Cons: No live chat on mobile
I am in a dispute with Algorfinance / algorfinance.net over a trade that was clearly erroneous. The price shown was wrong, I closed at a profit, and they reversed the trade and took the money back. They said it was a system error. So I lose and they keep? Unacceptable.
Pros: Good mobile app|Responsive team
Cons: Slow to add new assets
Do not be fooled by the professional-looking website. Behind the scenes, Algorfinance / algorfinance.net is disorganized and incompetent. I found them through a financial advisor and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: High security standards|Detailed reporting|Automated trading options|Excellent charting
Cons: Search feature is basic