Algo Forex Funds prop firm claims to be offering funding for HFT trading strategies yet does not allow copy trading. There are multiple traders’ reviews online citing the firm has poor support, denies payments, and does not respond to messages. With these many negative reviews from traders, Algo Forex Funds seems not a trustworthy prop firm. We decided to check and assess the firm, so you do not have to.
In our Algo Forex Funds review, we are going to discuss all the critical features of this prop firm including assets, funding options, rules, platforms, support, and more.
Pros & cons of Algo Forex Funds prop firm
Pros
- Ability to withdraw with $0 fees
- Most payment options are free and instant
- Fast and digital account opening/verification
Cons
- Scam alert! The firm declines payouts and is associated with a broker whose safety is questionable at best
- Lacks quality support and often replies in weeks
- Does not provide access to advanced trading platforms such as MT4 or MT5
- High fees for funded accounts
- Lacks diverse funded options
- Only offers handful of instruments for HFT strategies
Quick rating of Algo Forex Funds and its features
| FPA Score | Not yet rated |
| Year founded | 2024 |
| Headquarters | Mauritius |
| Minimum audition fee | 589 USD |
| Fees on withdrawals | Unknown |
| Minimum funded amount | 100,000 USD |
| Maximum funded amount | 800,000 USD |
| Allowed daily loss | 6% |
| Profit target | 6% |
| Maximum trailing drawdown | 20% |
| Profit sharing (Payouts) | Up to 95% (exaggerated claims) |
| Trading Platforms | MT4 |
| Available trading markets | Forex pairs, Indices, Crypto, and Commodities |
Safety of Algo Forex Funds — 0
Algo Forex Funds reviews are lacking on the FPA as the firm was launched recently. This is typically considered a red flag because it makes it difficult to assess what other traders are thinking about the firm. However, we checked the Trustpilot platform and the firm has many negative reviews from traders. Apparently, the firm loves to reset client accounts when they request payouts, mentioning various reasons such as copy trading. It is unclear to our team how the firm can determine who is trading on a client account and claim that it was someone other than the account holder. It seems more like searching for excuses to decline payouts and scam trader’s money. We suggest extreme caution when dealing with these kinds of firms. The broker who is partnered with Algo Forex Funds is FXDD, which is known for scams and frauds. This broker can not be trusted, and neither does the prop firm. Stay away from this prop firm.
The firm gets a 0 score in this section for declining payouts and giving obscure reasons.
Algo Forex Funds Funding and maximum capital allocation — 1
Algo Forex Funds funded programs start from 100k accounts as the firm claims to offer capital to HFT traders. HFT or High-Frequency Trading refers to using advanced algorithms that execute trades within milliseconds to capitalize on market inefficiencies using a large trading capital. It might be a good idea to attract traders with good algorithms and learn from them or buy their algorithms. If the firm is not an obvious fraud who is just collecting fees and does not give payouts to its traders.
Algo Forex Funds funding account is called HFT Premium and its funding options are 100k, 250k, 500k, and 800k US dollars.
Algo Forex Funds challenges are targeted at HFT traders who possess advanced algorithms and are not suitable for ordinary trading, and the firm is also known for its poor service quality. We do not recommend doing business with this firm.
Algo Forex Funds scaling plan is not active as it offers high funding options anyway. The firm gets a 1 score in this section.
Algo Forex Funds Assets — 2
Algo Forex Funds prop trading assets include Forex pairs, Indices, Crypto, and Commodities. There are no stocks or other assets offered, and we do not recommend trading with this firm. For not offering high-quality services and lacking in asset diversity, the firm gets a 2 score in this section.
Algo Forex Funds Trading rules and limitations — 0.8
Algo Forex Funds rules are mediocre and only maximum drawdown is good at 20%. The profit target is 6% and the daily risk limit is 6%. However, the firm has many hidden rules and declines payouts. Overall, Algo Forex Funds receives only a 0.8 score in this section.
Algo Forex Funds Fees — 1
The fees for Algo Forex Funds funded accounts are expensive and start from 589 USD for the 100k accounts. The firm charges 999 USD for 250k, 1899 for 500k, and 2989 USD for the 800k funded HFT accounts. The firm has to offer 0 pips spreads for HFT to work, but we strongly doubt it is possible with its partner broker FXDD.
Algo Forex Funds free trial is not offered at the moment and Algo Forex Funds free repeat is not possible either, as traders have to purchase challenges when they fail. Overall, the firm gets a 1 score in this section.
Algo Forex Funds Platforms — 0.9
The firm is too shy to disclose the exact trading platform it uses or allows it to use. It only mentions version 4 of the platform, possibly referring to the MT4 advanced platform. However, we can not still confirm this is the case and the firm loses points in this section for not being transparent. Overall, Algo Forex Funds gets a 0.9 score in this section.
Algo Forex Funds Profit-Sharing — 3
Algo Forex Funds’ profit split is capped at 95% as the firm claims, but we could not determine the default profit-sharing percentage. Withdrawals are mostly declined for various reasons, including copy trading, so it loses many points in this component. The firm gets a 3 score in this section.
Education and trading tools at Algo Forex Funds — 0
The firm lacks educational resources such as webinars or trading courses, and there is no blog to read posts. FAQs section is scarce of important information and can not be used for educational purposes. Overall, Algo Forex Funds receives a 0 score in this section.
Customer Support at Algo Forex Funds — 2.4
The firm only offers email and live chat support options. Many traders claim that the firm has terrible support and replies to its customers after weeks, which is probably one of the worst experiences. The website and support are both only available in the English language, which is another downside for the firm.
Frequently Asked Questions on Algo Forex Funds
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