ForexAlgo AI has been flagged by Financial Conduct Authority for "Unauthorised". 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, ForexAlgo AI is disorganized and incompetent. I found them based on a colleague's recommendation and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Risk management tools|Educational resources|Multi-device support
Cons: No crypto staking
After for roughly four months with ForexAlgo AI I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Responsive team|Easy withdrawals|High security standards
Cons: Desktop app not available on Linux|No crypto staking
The so-called education at ForexAlgo AI is just marketing. Every webinar ends with a push to deposit more. The market analysis is generic and often wrong. If you want real education go elsewhere. I wasted for close to eighteen months thinking they would help me learn.
Pros: Detailed reporting|Intuitive for beginners
Cons: No dark mode on mobile|Inactivity fee applies after 12 months
Where do I even begin with ForexAlgo AI? for roughly four months of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Customizable dashboard|Intuitive for beginners|Portfolio tracking tools|Excellent charting
Cons: Could offer more webinars
I want to warn everyone about ForexAlgo AI. They have been flagged by Financial Conduct Authority as an unauthorized entity. I wish I had checked before investing. They use high-pressure sales tactics and fake testimonials. Once you send money, getting it back is nearly impossible.
Pros: Initially responsive customer service
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
My withdrawal from ForexAlgo AI was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. for about ten months of being strung along.
Pros: Multi-currency support|Excellent charting|Full transparency|Clear documentation
Cons: Account statements could be more detailed
I found ForexAlgo AI when my bank disappointed me and I searched for alternatives and the initial impression was positive. But since I opened my account last year later, I have encountered so many issues that I cannot recommend them. Trades failing, charts not loading, and support tickets going unanswered for days at a time.
Pros: No hidden fees|Tax reports included|Educational resources|Easy to use platform
Cons: No crypto staking|Help articles are sometimes vague
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. ForexAlgo AI said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Dividend tracking|Quick verification
Cons: Some tools only available on higher tiers
If you are reading this considering ForexAlgo AI - run. I wish I had read more negative reviews after reading several online reviews. I thought the positive ones were real. Maybe some are. My experience over for about ten months has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Segregated accounts|Helpful community forum
Cons: Minor UI glitches occasionally
Several red flags with ForexAlgo AI: (1) They promise unrealistically high returns, (2) They're not registered with Financial Conduct Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Pros: Website looks legitimate on the surface
Cons: Unauthorized firm|Found in IOSCO warnings database