The brokerage firm does not disclose information about its team or history. According to its official website, the platform is registered in the Seychelles and is managed by DXA SEYCHELLES LIMITED, which holds an offshore FSA license numbered SD218. However, we want to take a closer look at this project, which has many nuances. Can this intermediary be trusted? Is it safe to trade on this platform? We will conduct an honest review of Algobi to determine how reliable this broker is.
How to Trade
The CFD broker provides access to trading on global markets via a web platform and a mobile app. Algobi offers over 300 instruments, including forex and cryptocurrencies. The platform is integrated with TradingView.
You can choose from 3 account types, each with different trading conditions:
- Silver — basic starting conditions.
- Gold — discounts on spreads.
- Platinum — premium service.
Leverage for all plans reaches 1:200, the minimum trade size is 0.01 lot, the minimum deposit is $250, and the stop-out level is 5%.
As additional services, the broker offers a corporate reporting calendar, Islamic accounts, and demo accounts. Customer support is available 24/5.
Algobi Vital Info
Legal information is available regarding the registration of DXA SEYCHELLES LIMITED in the Seychelles under number 8438281-1, but the platform’s launch dates do not match the domain name algobi.com’s historical records. Although the domain was created in 2017, our review of its history reveals that until 2025, the website had no connection to the current broker’s financial services. Presumably, the company may be falsifying its history in an effort to appear more experienced than it actually is
Nevertheless, we reviewed the official legal documents of this regulator and confirmed that DXA SEYCHELLES LIMITED is the rightful owner and operator of the algobi.com website. However, the Seychelles FSA license pertains to an offshore jurisdiction where investor protection is very low. Should you trust a broker that lacks proper oversight of its operations?
You’ll lose your money on this site. CFDs are exactly the kind of high-risk instrument whose use carries enormous risks. And by using them, you can go broke very quickly; all your dreams and hopes for profit will go up in smoke. Even professionals go broke, which is why I have a logical question: why hasn’t the ALGOBI administration properly explained to beginners that they shouldn’t use CFDs if they don’t yet understand what they are and don’t really know how to use them? It’s practically a guaranteed way for ordinary people to lose money!!!
The larger the withdrawal amount, the longer it takes them to process the request. And they drag it out in the classic way: they simply request verification with a full submission of all documents. And it doesn’t matter that I’ve already successfully passed it before.
Let me tell you a short story about how they tricked me with the leverage I used to trade Amazon stock. Since this asset is too expensive - it fluctuates between $1,700 and $1,900, or even higher - I didn’t have enough money to buy securities for day trading with my own funds. So I used leverage, but then they charged me a commission and started deducting additional fees, which ate up my $3,000 profit. That was the end of my trading on algobi.com, and it happened fast.
I didn’t realize right away that I was dealing with a boiler room; it only became clear when I couldn’t withdraw my money from there. At that moment, I was simply stunned - I had been trying to make money with Algobi, putting in so much effort, and I never suspected it was all a scam. After all, CFD trading isn’t easy to begin with; it involves significant risks, and then this happens!!! My advice to people who haven’t fallen into this trap yet is simply: don’t open a trading account on algobi.com. YOU CAN CHECK THE LICENSE, BUT IN REALITY, IT’S WORTHLESS SINCE IT’S FROM AN OFFSHORE REGULATOR - THE COMPANY IS RUNNING A SCAM, AND NO ONE IS DOING ANYTHING ABOUT IT. That’s why I wrote this review of Algobi specifically to warn others against making the same mistake.
The company is reliable, time-tested, and regulated by a reputable authority. You can trade here without any fear of being scammed. Algob even provides its own quotes to some brokers on ECN accounts; I knew a couple of them. You definitely don’t have to worry about the safety of your money. TRADING IS VERY PLEASANT; the platform responds quickly, with no delays, and the spread is small. I’ve withdrawn funds several times; everything arrived in my bank account within a day or so, maybe a little longer - I don’t remember exactly - but no one ever delayed it. YOU SHOULD KNOW THAT THE BROKER PROCESSES WITHDRAWALS VIA BANK TRANSFER, AND THOSE DON’T ARRIVE INSTANTLY :) They also offer EPS, but I haven’t used that. I’ve been working with ALGOBI for a year now.
They taught me to never trust anyone. Those bastards blocked my account with my money — $6,887!!!!
I sent an email because they’ve been holding up my $3K withdrawal for 10 days now. It’s like they’ve all died – I haven’t heard a peep from them!
A prime example of a money-losing website that’s cleverly disguised as a somewhat legitimate company - one where you have to invest at least $250, only to lose it almost instantly. And so I fell for their scam too; they ripped me off with the Canadian dollar – there was an artificial spike of 6.5 percent, and something similar happened over the course of a few days. I WAS JUST STUNNED BY SUCH BRAZENNESS!
Stay away. I was an ALGOBI client for a long time. The company was decent, I had no complaints, but then their policy changed and I had to close my account. However, I’ve now decided to reactivate my account. Thankfully, they were persistently inviting me back… And the first time I contacted support, the chaos began - they ignore my questions, ask the same thing 5–6 times, operators pass the buck to each other, and then make a fool of me: “But you didn’t ask us,” “But you didn’t talk to me” ... the customer service is on par with that of teenage girls on social media - they don’t say anything of substance, they don’t know anything, they’re constantly running off to consult with someone about every single customer issue, they laugh at me, and then ignore me again … They have absolutely no understanding of the culture or the specifics of working with customers. It feels like ALGOBI just hired a bunch of high school graduates and plopped them into the chat. Even calling a client is a huge feat for them (apparently their mom didn’t give them money for a phone).
I worked here for a week and managed to turn a profit, but that happiness didn’t last long. When I tried to withdraw my money, I ran into a problem. The SCAMMERS from this project blocked my transfer, then simply stole my $567 and “thanked” me that way for my work.
The website itself works very poorly. Everything takes forever to load. Support doesn’t work at all - neither email nor phone. Communication with the manager leaves a lot to be desired. When I spoke with him, he didn’t inspire any trust in me because the guy clearly has no idea what he’s talking about. There’s no guarantee you won’t get scammed on algobi.com. The trading conditions don’t match what was promised in the presentation. Besides, there’s no proper license, and I can’t take an offshore license in the Seychelles seriously :( So, guys, don’t even think about putting money in there.
The trading conditions here are very decent: good spreads and fast execution. They have an interesting security feature for the personal account: you can install the Google app on your smartphone, and various codes will be sent there. I won’t go into too much detail, but suffice it to say that even if someone hacks your account password, they won’t be able to log in to your account on algobi.com without your phone. Although I didn’t like the selection of payment systems; I’d like to see more options. It usually takes about a day for funds to appear on my card after placing an order. Overall, Algobi is a reliable company that’s been around for a long time; they don’t interfere with trading, so I recommend them.
I traded here, but not for long — about six months. The payment systems weren’t very convenient for me. Otherwise, I liked everything; it’s a well-known broker that’s been providing services for a long time. It’s licensed by a regulator, so you can rest assured you won’t be scammed here. I really liked how the trading terminal worked. You can set up Google Authenticator protection for your personal account; when you log in to the app on your phone, a one-time code is sent to it — you can’t log in without it, even if your password is hacked. Accounts are separated: trading accounts are separate, and accounts for deposits and withdrawals are separate. There’s a deposit bonus that you can trade. I used a bank card; ALGOBI processed withdrawals quickly, no questions asked – I requested it, and I received it. If you open an account with another broker in the UK, the leverage will be low, so it’s better to open an offshore account at ALGOBI.com. I should note that UK-based platforms are only suitable for traders with massive deposits.
I traded with this broker in 2025. ALGOBI disappointed me with their deposit and withdrawal fees. I deposited €700 via bank transfer, and the broker charged a €25 fee. Customer support noted that I needed to deposit at least €1,000 for the broker to not charge a fee. They didn’t charge a fee for the withdrawal via bank transfer, but when I made a second withdrawal, they charged €50. It turns out you can only withdraw money via bank transfer without a fee once a month. Once I figured this out, I realized that ALGOBI isn’t thrilled when a client withdraws money multiple times a month. Support keeps calling me to this day, offering other deposit and withdrawal methods, but I’ve already switched to another broker.
This broker isn’t reliable; I had nothing but problems trading here. One obvious drawback: slow withdrawals. I waited 3 weeks for $400. The trading system is also pretty mediocre. Glitches happen very often.
They can’t even withdraw a mere $320, and that’s such a problem! Is that normal?? I don’t think this should be a problem at all, and I shouldn’t have to waste my time figuring out the what, how, and why because of such nonsense!
As for trading, it’s a total disaster here, from order execution speed to functionality. I lost $830 with them because of a glitch. However, No one is going to give it BACK to me!