Review summary
Algobi, operating as DXA SEYCHELLES LIMITED, is an online trading entity established within the past year and registered in Seychelles. The broker holds an offshore Securities Dealer License (SD218) from the Seychelles Financial Services Authority (FSA), which is a registration rather than a stringent, investor-focused regulatory framework typical of major financial jurisdictions like the UK or Australia. Consequently, it operates without the direct financial oversight, capital adequacy rules, and client fund segregation mandates associated with top-tier regulators, presenting a clear absence of credible investor protection. According to its account data, it offers Silver, Gold, and Platinum accounts with a standard minimum deposit of $0.01 and maximum leverage of 1:200, supporting scalping and Expert Advisors (EAs). WikiFX assessment indicates significant negative user exposure regarding withdrawal procedures. Its overall WikiFX Score of 3.12 reflects significant regulatory and operational concerns. In summary, Algobi is an offshore entity with a notably high-risk profile for retail traders. Note: Regulatory status, trading conditions, and risk assessments may vary by jurisdiction. The WikiFX score reflects currently available information.Please verify all entity details independently before trading. (Updated: 2026-04-10)
FX4111056649
Costa Rica
I have an open account with Algobi, I have deposited more than USD 10,000.00. Currently they show that I have a balance in my favor of $47,820.50 but since I have a margin level of 44.28%, a Free Funds balance of -US$4,952.15, I must cover that amount to request to close (suspend) the account and withdraw the balance of the account plus what I deposit to cover the deficit of the Free Funds.
Exposure
FX3896044146
Peru
I started with a small investment because I didn't know anything about trading. I explained it to them, and they demanded I invest and make a bank transfer in dollars. Then they demanded two deposits via SAFETYPAY. Later, they overleveraged the account, demanded I invest in gold, silver, and BREND, and stopped providing support. I only started investigating and noticed the account was losing money until it was wiped out. Now they ask me to deposit more money to save the account, recover the funds, and close it. Honestly, with the information I've been able to gather, I don't believe them. I lost everything. Now they're calling me, raising their voices and threatening me, saying I must face the consequences and that I'll have problems internationally. They're telling me that if they harm me, I should see why Algobi doesn't consider the human aspect. That's what they're saying. They never showed me a contract, and now they've given me one I didn't know about and never signed. I demand a review of my account and compensation for the damages.
Exposure
FX3937750947
Mexico
Algobi, through its advisors, tricks people into investing and then prevents withdrawals. They claim your money is in the "financial market" and that to release your funds you must deposit more money; it's a blatant scam.
Exposure
Mariana Rangel silva
Mexico
First, an advisor called me and opened my account, charging me around 1,200 Mexican pesos without telling me. However, he argued that the money was in my account and still in my name. From there, he began to teach me how to make transactions, and I started to see profits in my account. However, the advisor began to ask me to make larger investments. When I explained that I did not have any more money, he asked me to borrow money. I refused, and he transferred me to another advisor. The same thing happened again, but this time, seeing that they were monitoring my account and had even given me a bonus, I agreed to transfer the money and then take out a loan for 18,000 pesos. I made the transfer, but I made a mistake and added 10 pesos too many, and from then on they told me that I had to get 250,000 Mexican pesos so that they could return it to me. I refused to do so and they began to threaten me. My money is there, but I can't withdraw it. Please help me!
Exposure