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AlgoForex

Operating status: SCAM

Website: https://algoforexuk.com/

Broker violations and abnormal records
  • Jun 04, 2023 The UK FCA issued a warning against AlgoForex

    On June 5, 2023, the Financial Conduct Authority (FCA) issued a warning against AlgoForex, believing this broker might be providing financial services or products without proper authorization: https://www.fca.org.uk/news/warnings/algoforex

    On June 5, 2023, the Financial Conduct Authority (FCA) issued a warning against AlgoForex, believing this broker might be providing financial services or products without proper authorization: https://www.fca.org.uk/news/warnings/algoforex
  • Jun 05, 2023 BrokersView has reviewed that AlgoForex is an unregulated broker

    AlgoForex falsely claims to be a legal broker regulated and authorized by the Financial Conduct Authority (FCA) with the FRN 780240. While it is true we find corresponding records in the FCA registry, the company under this number, Algo Performance Fund, is registered as a fund and has no authorization to provide financial services or products, as stated in the warning issued by the FCA against AlgoForex.

    In essence, AlgoForex is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

    AlgoForex falsely claims to be a legal broker regulated and authorized by the Financial Conduct Authority (FCA) with the FRN 780240. While it is true we find corresponding records in the FCA registry, the company under this number, Algo Performance Fund, is registered as a fund and has no authorization to provide financial services or products, as stated in the warning issued by the FCA against AlgoForex.In essence, AlgoForex is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

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FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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