AlgoBanque is a forex broker that operate under a company called Yamix Marketing UK LTD. AlgoBanque is relatively new in the forex trading industry as it was established in 2014. It offers all the classic trading products for customers including currency pair, Spot Oil, Spot Metal, and CFD. AlgoBanque does not accept deposits from traders that are from North America.
AlgoBanque Trading Platform Review
AlgoBanque offers a desktop based platform, Metatrader 4 platform as well as a web based platform, Webtrader. Metatrader 4 is integrated with the AlgoRobots which enables traders to carry out automated trading. You can manage more than one trading accounts at the same time when you are on Metatrader 4 platform.
The platform is equipped with different types of charts that are updated in real time and there are many types of technical indicators you can use for monitoring the market. The platform has many easy to use trading tools to help you monitor the market. The interface of the MT4 platform is fully customizable according to your needs. There is a variety of time frames.
WebTrader lets you login into your MT4 account when you are away and do not have access to your desktop. WebTraders offers the same features and is completely secure just like the MT4 platform. With the Webtrader, you don’t have to download any software because it is completely web based.
They provide a free forex PIP calculator for performing calculation on the PIP value to determine the trading risk.
Types of Trading Accounts
AlgoBanque offers 3 types of trading accounts including mini, standard, and VIP accounts. The mini account requires a minimum deposit of in between $500 – $1,499. The mini account offers a leverage of 1:200 and its minimum trade size is 0.05 lots. You will be given a personal account manager, who will take care of any problem you face with your trading account.
The standard account will send free forex signals and daily market report to the email address you specified. You will enjoy personal coaching from a forex expert and get help from the dealing room customer support department. The standard account features a leverage of 1:300 and the minimum trade size you can place is 0.1 lots. VIP account will give you one on one session with a senior analyst. In addition, if you are a member of VIP account, you will get to enjoy free webinars, sign up courses, and get free signals. VIP account has the lowest spreads compared to other two accounts and it has a minimum trade size of 0.5 lots.
AlgoBanque allows traders to deposit and withdraw funds via a variety of methods including bank wire, credit card, Neteller and CashU. If you withdraw by bank wire, you may be charged with a fee. The minimum amount you can withdraw is $100 of the currency you set in your account. You have to fill out a withdrawal request when you want to withdraw the funds in your account’s balance just like other brokers.
AlgoBanque has an education center where you can learn about the basics in forex trading and learn how to not be affected by emotion when trading in the forex market. There are many algorithmic trading tutorials that you can access for free.
AlgoBanque offers customer support via 3 methods including email, telephone and live chat. The website supports 6 languages including English, Russian, Arab, Spanish, Dutch, and Italian. You can use the web contact form to send an email to the customer support team.
Alternatively, you can send an email directly to the email address of their customer support department. Telephone customer support is available to 10 countries including Bahrain, South Africa, Germany, Hungary, Russia and Japan.
Is AlgoBanque a scam?
In conclusion, AlgoBanque is recommended for anyone that is looking for an easy to use platform with automated feature. The platform is equipped with a variety of trading tools and charts to help traders succeed in their trading.