Is Algofgain legit?
We’ll be answering that here. If you have deposited money with Algofgain and you suspect that they are not being honest with you, there may possibilities of getting your money back.
Many regulated brokers, unregulated companies and investment firms have been found to be scams and AlgoFgain would not be the first.
Under many circumstances there are avenues in place that are there to protect individuals and help them to get their money back.
We can let you know how it’s possible to recover your money. You can contact us by filling out the form on the left side of the page.
Scam Website: algofgain.com
Is Algofgain a scam?
Despite what any Algofgain review has told you, Algofgain is a confirmed scam. We don’t recommend trading with them or doing any business with them. If you are already trading with Algofgain we recommend you immediately cease depositing any amount of funds with them, in particular if they are asking for a fee to withdraw your money. DO NOT PAY IT.
The Algofgain Scam
As more and more reports have been confirmed, it has become abundantly clear that Algofgain is scamming it’s clients. Customers have complained that the sales people are extremely aggressive and call them multiple times a day. If they do answer the Algofgain representative is extremely pushy and shows no regard for the clients responses. Another primary complaint is the inability to withdraw funds from the platform. Algofgain also makes no secret of their usage of Anydesk software (displayed proudly on their homepage). The remote software acts much like teamviewer and allows the broker to access the clients computer. Clients have stated that they are placing trades for them and have even withdrawn funds from their bank account!
Who is AlgoFGain?
Based on the AlgofGain website, this is a scam run by individuals who wish to remain anonymous. No information is provided regarding who the owner of Algofgain is. The address listed on the website is City Point, Marxergasse 1B, 1030. According to google maps this is a business center found in Austria. What has been confirmed from the Fintelegram website is that AlgFgain and closely related broker scam called AGKapital (agkapital.com) are both using a list of payment processors that are known for providing services for scams. Fintelegram also points out that both of these companies are being promoted through fraudulent marketing campaigns. Read more about that here.
Is AlgoFGain a regulated broker?
Algofgain is not regulated by any regulatory authority whatsoever. Any claims that their brokers may make regarding a positive regulatory status is unequivocally false.
What products does AlgoFgain offer?
Algofgain offers Forex, Crypto and CFD’s trading on their platform. They do not specify on their site which instruments are available. They claim to provides thousands of assets and display three popular cryptocurrencies being Bitcoin, Litecoin and ethereum.
The Algofgain Platform
Algofgain offers their proprietary platform the AlgoFgain Webtrader. It offers real time data, interactive charts and claims to provide fast execution time. Like other scams that we’ve covered, the Algofgain platform does have some positive reviews online. These reviews are most likely being left by the operators of the platform themselves.
Methods of Payment
Algofgain encourages its’ clients to pay using cryptocurrency, however they do accept VISA and Mastercard. This is a very positive point as it affords the opportunities for chargebacks to be raised and money to be recovered. A word of caution to those who did pay using a credit card and would like to dispute the transaction. Scammers like AlgoFGain are prepared for chargebacks and can make it difficult to win. Make sure to do the necessary preparation prior to raising a chargeback.
If you’ve been scammed by Algofgain and you’d like to report on your experience and find out if you can get your money back, let us know by filling out the form on this page.
Looking for a regulated broker? Check out our Fortrade Review to see if they’re right for you.
If Algofgain has done anything similar to the below items, you are most likely being scammed by Algofgain.
Legal Signs of a Scam
- The company or broker is not regulated.
- The company or broker is regulated by a foreign regulatory body that is not trustworthy.
- The company is regulated by CySEC.
- The company has had it’s license suspended.
Contact us by submitting your information in the form on the page. We’ll let you know as soon as possible how you can get your money back.
Behavioral Signs of a Scam
- The broker has been overly pushy in getting you to deposit your money.
- The broker does not react positively when you ask for a withdrawal.
- The broker does not allow you to withdraw your money.
- The broker has offered you or pushed you to take a bonus.
- The broker has logged into your personal computer.
- The broker is charging you to withdraw your funds.
- Trades have been placed without your consent.
- The company withdrew funds from your account or charged your credit card without permission
- The broker asked for a picture of the front and back of your credit card to be sent by email.
- The broker asked for your government form of ID to be sent in an email or on the website.
- The broker told you to place a trade and then you immediately after lost all or most of your money.
Locations that scam brokers are often found in.
- If the broker that you’re dealing with is located in any of the below locations it is reason for concern, as these areas are notorious for hosting Forex scams as well as Crypto and Binary Options scams.
- Let us know right away if
- The broker is located in Saint Vincent and the Grenadines
- The broker is located in Belize.
- The broker is located in the Commonwealth of Dominica
- The broker is located in the Cook Islands.
- The broker is located in The Marshall Islands.
- The broker is located in Mauritius.
- The broker is located in Seychelles
- The broker is located in Vanuatu.
Know your rights and get your money back. By filling out your information, we’ll be able to advise you right away.
Disclaimer: It is not always possible to recover lost funds. Many cases of recovery scams have been reported where the victim is guaranteed to get their money back. We can assess your case and advise you right away if it’s possible to recover your money.
Who to trust?
Scam Complaint Registry recommends Fortrade as a trusted broker. They are licensed and registered with the FCA (UK), ASIC (AU) and the IIROC (Canada). They are based in London and their strong regulatory backing make them as safe as a broker could be to trade with.