AlgoFX Forex Broker

Note: TradeBaionics's official website - https://www.tradebaionics.com/ is currently inaccessible normally.AlgoFX Review SummaryFounded2024Registered Country/RegionUnited StatesRegulationNot regulatedMarket InstrumentsCFDs on 70+ forex pairs, gold, silver, oil, and gasDemo Account✅LeverageUp to 1:500Spread/Trading PlatformMT5Min Deposit/Customer SupportEmail: support@algofx.liveSocial media: Facebook, Twitter, and Instagram AlgoFX is a newly-established broker registered in the United States, offering trading in forex pairs, gold, silver, oil, and gas with leverage up to 1:500 via the MT5 platform. However, it currently has no valid regulations.Pros and ConsPros Cons Various trading assetsUnavailable websiteDemo accounts offeredNot regulatedMultiple account typesOnly accept crypto paymentsPopular trading platform - MT5Only email supportIs AlgoFX Legit? No, AlgoFX operates without regulation. Please be aware of the risk!What Can I Trade on AlgoFX?Tradable Instruments Supported CFDs✔Forex pairs✔Gold & silver✔Oil & gas✔Indices❌Stocks❌Cryptos ❌Bonds❌Options ❌ETFs❌Account Type AlgoFX offers three account types: Standard, Commission and STP Pro account. It also offers demo accounts.Leverage AlgoFX offers leverage up to 1:500. Note that trading with high leverage can lead to huge profits and losses.Trading PlatformTrading PlatformSupported Available Devices Suitable for MT5✔Desktop, MobileExperienced tradersMT4❌/BeginnersDeposit and Withdrawal AlgoFX only accepts payments via crypto wallets. Other popular payment options like bank transfers, credit/debit cards, and e-wallets are not available.