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Algobi Review: One Offshore Licence and 320+ CFDs

Broker Reviews editorial team
Broker Reviews editorial team Broker research desk
25 July 2025
Updated 28 July 2026
23 min read

Algobi is a trading name of DXA Seychelles Limited, holder of Seychelles FSA Securities Dealer licence SD218. That single offshore licence is the entire regulatory picture, and it governs how the rest of this review reads. What sits on top of it is better than the licence deserves — a browser terminal running TradingView charting, more than 320 CFDs, leverage capped at a moderate 1:200, and a 5% stop-out that held under deliberate pressure. We funded a live account with USD 500 in June 2026 and placed more than fifty trades through it. The gap we could not close is the one that matters most — we submitted a withdrawal request, it entered review, and we never completed a withdrawal cycle.

Disclosure: we may earn a commission if you open an account through links on this page. It does not change our scores, our rankings, or anything we found in testing. Read how we make money.

Overall rating5.1/10
FoundedNot declared by the broker; earliest published announcements date to October 2025, indicating a brand that became operational during 2025
HeadquartersVictoria, Mahe, Seychelles
Main licencesSeychelles FSA Securities Dealer licence SD218 (DXA Seychelles Limited) — the only licence held
Minimum depositAbout USD 250, from matching independent sources; the broker publishes no figure
Spreads fromAbout 1.2 pips on EUR/USD on the Platinum tier, observed July 2026; about 1.9 pips on the entry Silver tier
Maximum leverage1:200 across all tiers
InstrumentsMore than 320 CFDs across six asset classes
Swap-free availableYes, on request
Retail loss rateNot published

Pros and cons

We opened a live Silver account in June 2026, raised the balance through the Gold and Platinum tiers, sampled spreads in July 2026 during the London and New York overlap, used all three support channels, and checked SD218 on the FSA register.

What works:

  • Legal identity disclosed and consistent across pages: DXA Seychelles Limited, company registration 8438281-1, registered office at the Abis Centre, Providence, Victoria, Mahe.
  • Licence SD218 verifies independently — entity name, company number and active status all matched on the Seychelles FSA register.
  • Real TradingView charting: indicators, drawing tools and live data behaved as they do in TradingView itself.
  • Execution held over fifty-plus live trades — pending orders triggered at the levels set, stops filled where placed, no repeated rejections, no freezes.
  • Leverage capped at 1:200 rather than the 1:500 or 1:1000 common here, with a uniform 5% stop-out that fired as advertised under stress.
  • More than 320 instruments, and our Visa deposit credited in full and instantly with no broker-side fee.
  • Client agreement, complaints procedure and risk disclosure all published.

What does not:

  • One offshore licence and nothing else — no tier-one authorisation and no investor compensation scheme behind your balance if the firm fails.
  • We did not complete a withdrawal. Our request entered review before transfer; we have no clearing time, no fee and no confirmation of receipt to report.
  • Neither client-money segregation nor negative balance protection is detailed on the broker’s published pages.
  • No spread schedule published, so every spread figure here is our own measurement.
  • Entry pricing is wide — about 1.9 pips on EUR/USD on Silver, where everyone starts, with the competitive number behind two upgrades whose thresholds are unpublished.
  • No MT4 and no MT5, so no expert advisors and no custom MQL indicators.
  • No declared founding year, no published minimum deposit, no published retail loss rate, and a review record still too thin to weigh.

Company information

Algobi is a brand, not a company. The operating entity is DXA Seychelles Limited, registered in the Republic of Seychelles under company number 8438281-1. Reviewing the published legal documents in June 2026, we found entity name, registration number and licence number matching across more than one official page — a low bar, but consistency is what fabricated credentials fail. The broker declares no founding year; the oldest notices on its announcements page date to October 2025, pointing to a brand that entered live operation during 2025. Operating history is one of the few things an offshore broker can offer in place of tier-one supervision, and there is little of it yet.

ItemDetail
Trading nameAlgobi
Operating legal entityDXA Seychelles Limited
Company registration number8438281-1 (Seychelles)
Registered officeAbis Centre, Providence Industrial Estate, PO Box 1466, Victoria, Mahe, Seychelles
RegulatorSeychelles Financial Services Authority (FSA)
Licence numberSD218
Licence categorySecurities Dealer
ServiceContracts for difference, more than 320 instruments
Excluded jurisdictionsUnited States, Canada, European Union, Iran, Iraq, Syria, North Korea, Sudan, Myanmar, Russia

For a UK, EU or Australian reader the excluded-jurisdiction row is the most consequential line on that table. The European Union is excluded outright: if you live in the EU, this broker does not onboard you. The United Kingdom is not named — but there is no FCA-authorised entity in this group and no UK support line published, so a UK resident would be contracting with a Seychelles company under Seychelles supervision, with no FSCS cover.

Who this broker suits (and who it does not)

The clearest fit is a discretionary trader who charts in TradingView, wants breadth from one account, needs swap-free terms, and is trading an amount they would write off. The 1:200 ceiling and 5% stop-out suit someone who wants platform defaults working against over-leveraging — in a category where 1:1000 is a marketing headline, this broker declined to compete on that axis.

It does not suit anyone who needs regulatory protection where they live: EU residents are excluded by the broker’s own policy, and UK and Australian residents get no FCA or ASIC oversight, no compensation scheme and no local ombudsman. Nor does it suit algorithmic traders, because there is no MetaTrader; anyone who needs to know their costs before opening an account; or anyone wanting an audited withdrawal record, because we cannot give them one. Above all it does not suit money you cannot afford to lose.

Licensing and regulation

Algobi operates under exactly one licence, held by one entity. We treated this as the load-bearing part of the review and verified it directly.

RegulatorCountryLicence numberLegal entityCategory
Financial Services Authority (FSA)SeychellesSD218DXA Seychelles LimitedSecurities Dealer

Licence SD218 is not a marketing claim. It is an entry on the Seychelles FSA’s register of licensed securities dealers, recorded against an entity name matching company number 8438281-1, cross-checked against three independent sources. The broker displays the number in the footer, the legal section and the about page, and the three agree. We found no regulator warning, no enforcement action and no licence restriction against it.

Where the licence sits in the supervisory hierarchy matters far more than that it exists. The Seychelles FSA is an offshore regulator and its conditions are lighter than the FCA’s, CySEC’s or ASIC’s — lower capital requirements and, decisively, no mandatory investor compensation fund. The practical gap is what happens when a firm fails. A UK client of an FCA-authorised broker has FSCS cover; an EU client of a CySEC firm has the Investor Compensation Fund. There is no equivalent here: if DXA Seychelles Limited became insolvent, no scheme pays you back.

What the licence does impose is real, and we saw it working — Algobi checked an identity document and proof of address before activating our account, as anti-money-laundering rules require. Verify the licence yourself before funding anything; the steps are in the FAQ below, and they are the cheapest protection available against clone firms.

Opening an account and verification

Registration asked for name, email, telephone, country of residence and a password, and took under three minutes. Verification followed the sector norm — a valid identity document and recent proof of address. The support pages state approval within 24 to 48 hours of upload; in our June 2026 test the confirmation arrived in roughly one business day, and we met no vague requests or hidden charges. Make the name on your document match the form exactly: mismatches are the commonest cause of verification delay and resurface later as withdrawal delays. A free demo account is available before any deposit, and given how much commercial detail never appears publicly, opening one first is the only way to see what you are being offered.

Account types

Three live tiers — Silver, Gold and Platinum — plus a demo account and the swap-free option. The structure is built on discounts rather than different execution models: leverage, stop-out and minimum lot are identical across all three, and only cost changes.

TierMinimum depositSpread discountSwap discountMaximum leverageStop-out levelMinimum lot
SilverAbout USD 250None (baseline)None (baseline)1:2005%0.01
GoldBy upgrade50% off Silver40% off Silver1:2005%0.01
PlatinumBy upgrade75% off Silver60% off Silver1:2005%0.01

Upgrading therefore changes your economics without changing your risk parameters, which is a good design decision. The problem is what you cannot see: the USD 250 minimum comes from matching independent sources, not from Algobi, and the site publishes no figure for any tier and no threshold for moving between them. The ladder’s cost impact is real, but you cannot work out what it takes to climb it.

Swap-free accounts

Algobi confirms a swap-free option, activated on request: positions held overnight or longer are exempted from the accrued interest otherwise charged or credited as a swap. That matters for a trader avoiding interest on principle, and for anyone running multi-week positions where nightly financing compounds into a real drag on an otherwise workable strategy.

AspectDetail
AvailabilityOn request, activated by the broker
Overnight swapNot charged on positions held over
BasisExemption from accrued overnight interest
Substitute administration chargeNot published
Grace periodNot published
Instruments coveredNot published
External Shariah certificationNot published

Four of those rows read “not published”, and that is the finding. Many brokers replace swap charges with a flat administration fee, triggered after a set number of nights, that can quietly exceed the swap it replaced. Absence of publication is not evidence of absence: confirm all four with support before relying on it.

Fees and trading costs

Spreads

Because the site publishes no spread table, we opened the charts during the London and New York overlap in July 2026 and recorded the averages quoted to our own account. On Silver, EUR/USD started from about 1.9 pips, narrowing to about 1.2 pips on Platinum, consistent with the stated 75% discount. These are live-condition averages and they widen around economic releases.

InstrumentAlgobi Platinum (observed)XM StandardExness StandardAvaTrade
EUR/USD1.2 pips1.6 pips1.1 pips0.9 pips
GBP/USD1.6 pips2.0 pips1.5 pips1.5 pips
USD/JPY1.4 pips1.7 pips1.3 pips1.3 pips
AUD/USD1.3 pips1.8 pips1.2 pips1.2 pips
USD/CHF1.6 pips2.0 pips1.6 pips1.5 pips
Gold (XAU/USD)25 cents32 cents20 cents29 cents
Oil (WTI)USD 0.04USD 0.05USD 0.03USD 0.04

The table says something narrower than it first appears. Platinum beats XM Standard on every pair we watched, but beats neither of the others outright on a single instrument: Exness Standard was tighter or level on all seven, AvaTrade on six. Algobi’s best tier is competitive rather than leading — and that is the best case. Every new client begins on Silver at about 1.9 pips on EUR/USD, wider than all three comparators, with the good pricing behind two upgrades whose thresholds are unpublished.

Commissions and overnight financing

Across more than fifty trades we saw no separate commission on forex positions; cost sat entirely in the spread, so a 0.1 lot EUR/USD round trip on Platinum is the roughly 1.2 pip spread times the pip value. Specifications differ by asset class, and share CFDs may carry terms forex does not. Swaps are charged past the daily rollover, with tier discounts of up to 40% on Gold and 60% on Platinum — for a swing trader that compounds and can matter more than the spread saving. Swap tables are revised periodically, the October 2025 update being the earliest published, with advance notice to clients.

Non-trading fees

Algobi charges no internal fee on deposits or withdrawals, per both its published terms and our own deposit test, though your bank or card issuer may still apply a conversion charge. We found no mention of an inactivity fee in the published documents, though absence of publication is not absence of the fee. The model is sound — spread-only pricing on forex, no broker-side funding fees, no visible dormancy charge — but the disclosure is not, and pricing you cannot compare before committing is not a competitive advantage.

Desktop platforms

There is no downloadable desktop application. Algobi WebTrader runs from the browser with no install, and that is the whole desktop offering. Tested on Windows, it loaded in seconds and presented instrument list, order ticket and chart in one ordered workspace. The standout is the TradingView charting: opening EUR/USD on the four-hour frame gave us professional drawing tools, a full complement of indicators and smooth live data. We pushed it further — several chart windows open at once across a currency pair, gold and a major index, with no perceptible slowdown, and pending orders that triggered at pre-set levels unattended.

The gap is MetaTrader: neither MT4 nor MT5 is offered. For discretionary traders that is a preference question. For anyone running expert advisors, copy-trading tools or custom MQL indicators it is not — that workflow does not exist here.

Mobile apps

The app covers iOS and Android. We installed it on Android and placed live trades on gold and GBP/USD. Movement between instrument list and order screen was fluid, prices updated live with no perceptible lag, and a position opened on the desktop terminal appeared on the phone immediately. The limitation is screen rather than software: it suits monitoring and reacting away from a desk, while detailed chart work belongs on the larger display.

CriterionDetail
Platforms availableAlgobi WebTrader (browser) + iOS and Android apps
ChartingPowered by TradingView
Live pricingAvailable, no perceptible lag in testing
Cross-device syncImmediate in our test
Best suited toDiscretionary traders, beginner to intermediate
MT4 / MT5Not available

Trading tools

Algobi lists more than 320 CFD instruments across six asset classes. We worked through the instrument list category by category to confirm the breadth was real rather than padded.

Asset classExamples observedNote
Forex CFDsEUR/USD, GBP/USD, USD/JPY, USD/CHFMajors and minors
Index CFDsS&P 500, FTSE, major global indicesUS, European and Asian coverage
Metals CFDsGold, silverCommonly traded safe havens
Commodity CFDsOil, coffee, energy and agricultural productsDiversification beyond currencies
Share CFDsLarge names across technology, healthcare and financialsTraded as CFDs, not shares
Crypto CFDsBitcoin, Ethereum, altcoinsAvailable through CFDs only

Algobi publishes no per-category breakdown, so we report the headline 320-plus rather than inventing a split. Everything trades as a contract for difference — you take a position on price movement without owning the asset, which allows positions in both directions and requires a working understanding of leverage first.

Order execution

We placed roughly fifty trades on the live account, deliberately spread across three liquidity windows: the quiet Asian session, the London open, and the London and New York overlap. In quiet sessions execution was fast and filled very close to the requested price, with no slippage worth reporting. Around high-impact releases the spread widened and limited slippage appeared — expected at every broker during sharp volatility. Execution stayed orderly: no repeated rejections, no hangs, no delayed confirmations. Spreads were tightest during the overlap and widest in the Asian session, so timing larger positions for high-liquidity hours lowers your real cost.

Stop-loss and take-profit orders filled at the levels we set, and the 5% stop-out worked as a genuine backstop — we ran a deliberate pressure scenario on a small balance and it fired exactly as advertised, though it is a floor under a bad outcome rather than protection against one. Our findings here are qualitative: no median fill latency and no measured slippage across those fifty trades, so we cannot give you a number to compare against another broker.

Deposits

Deposit methods are published, which is more than several competitors manage. Our Visa deposit credited in full and instantly, with no broker-side fee.

Deposit methodProcessing timeBroker-side fee
Visa and Visa DebitInstant in our testNone
Mastercard and MaestroNear-instantNone
Apple PayNear-instantNone
Google PayNear-instantNone

The gap is account currency: Algobi does not set out which base currencies it supports, and depositing in another currency triggers a conversion charge from your bank or card issuer. Confirm this with support first. Funding was the smoothest step in the whole journey.

Withdrawals

This is the section that matters most and the one where we have least to give you. Algobi’s published policy is specific: requests processed within up to three business days depending on payment method, no internal withdrawal fee, and funds normally returned to the method used to deposit.

What we did not do is complete a withdrawal. We submitted a request through the account panel by the standard route, and it entered review before transfer. We have no clearing time, no fee and no confirmation of receipt to report. On a young offshore broker, the round trip of money in and money back out is the single most important thing a review can establish, and we did not establish it.

AspectStatus
Where withdrawals are requestedClient account panel
Stated processing timeUp to three business days, depending on method
Broker-side withdrawal feeNone, per published policy
Return routeNormally to the original funding method
Withdrawal cycle completed in testingNo — request submitted, entered review, not completed
Measured clearing timeNot established

Customer support

Algobi runs support 24 hours a day, five days a week across live chat, email and telephone, with a multilingual desk covering English, Arabic and Spanish. There is no weekend cover, worth knowing if you hold positions over a weekend.

ChannelAvailabilityLanguagesNote
Live chat24 hours, five days a weekEnglish, Arabic, SpanishFastest channel in our testing
EmailThrough the weekEnglish, Arabic, SpanishReplies stated at up to 48 hours
Regional telephoneBusiness hoursEnglish and ArabicDedicated lines for Saudi Arabia, the UAE and Qatar

Live chat was quickest. Email suits non-urgent questions, though the broker states replies may take up to 48 hours — a long wait if your question concerns money already in the account. We asked the desk about the company’s legal identity and received confirmation of the entity name and licence number within business hours. No UK or Australian line is published. We did not record response times systematically, and a measured first-response time is exactly the figure separating a good support desk from an adequate one.

Research and education

The centre of gravity is a support hub organised by topic: account setup and verification, managing settings, running the platform, technical troubleshooting and CFD basics. It is well ordered and answers most of a beginner’s practical questions. Alongside it sits an announcements page covering trading-hours changes, swap adjustments and market holidays, which we used to check daylight-saving changes before entering a position.

What is not here is depth: no daily market analysis, no research notes and none of the structured courses larger brokerages maintain. The support hub explains how the platform works; it does not teach you to trade. The TradingView integration partly compensates — drawing trendlines and support and resistance on gold, then adding moving averages and RSI, all worked smoothly — but a charting environment is not an education programme.

Fund safety and protections

The licence gives verifiable legal standing and enforced anti-money-laundering obligations, distinguishing Algobi from wholly anonymous operations — but no safety net. Offshore supervision in Seychelles carries no mandatory investor compensation fund, and Algobi publishes no definitive detail on segregating client money into separate bank accounts, nor on negative balance protection. We could not confirm either, and we will not present sector convention as a confirmed arrangement. The platform contributes the rest: a uniform 5% stop-out closing losing positions once margin reaches that level, and a 1:200 ceiling keeping position sizes lower than the 1:500 and 1:1000 offerings common elsewhere.

Safety featureStatus
Regulatory frameworkSeychelles FSA Securities Dealer licence SD218
Investor compensation schemeNone
Client fund segregationNot detailed on the broker’s published pages; not confirmed
Negative balance protectionNot detailed on the broker’s published pages; not confirmed
KYC and AMLApplied; we completed identity and address verification
Stop-out level5%, uniform across tiers; verified under test
Maximum leverage1:200
Legal documentsPublished (client agreement, complaints handling, risk disclosure)

The row governing all the others reads “none”. Platform mechanics reduce the risk of a margin spiral; none does anything if the firm itself fails rather than the market. Size the deposit accordingly.

Independent reputation record

The brand is recent, so its presence on platforms such as Trustpilot is still forming and review volume remains small. Opinion divides between positive accounts praising ease of use, execution speed and interface clarity, and less satisfied ones mostly tied to trading losses. Serious complaints were few. But with thin volume each rating moves the average disproportionately, and the absence of a complaints record is not a clean record: there is barely a record at all yet.

Verdict

Algobi scores 5.1 out of 10. The platform is better than the score suggests; the regulatory position and the unfinished withdrawal test are what hold it down.

CategoryWeightScore
Regulation and licensing25%4.0
Trading costs20%5.5
Withdrawals and fund access20%4.5
Platforms and execution15%7.0
Customer support10%6.0
Research and transparency10%4.5
Overall100%5.1

Three categories move the result. Regulation and licensing scores 4.0 and is the heaviest drag: the licence is real, verifiable and honestly represented, but it is one offshore licence with no compensation scheme behind it and no published detail on segregation or negative balance protection. Withdrawals and fund access scores 4.5 — the policy is specific and the deposit rail is confirmed working, but we never completed a withdrawal cycle, and a policy is not a test. Trading costs score 5.5 because the tier that competes is not the tier anyone starts on. Under our rating methodology those three carry 65% of the total, and the 7.0 for platforms and 6.0 for support cannot offset them from a combined 25%. The pattern is a broker that performs adequately on what we could test and publishes little of what we could not.

Trading CFDs on leverage carries substantial risk to your capital, and most retail accounts lose money trading these products. Consider whether you understand how CFDs work and whether you can afford the high risk of losing your money. Never trade with funds you cannot afford to lose. Algobi publishes no loss-rate figure of its own, so the general CFD risk warning applies without a broker-specific number attached.

If you want a clean TradingView-based terminal, wide instrument choice, swap-free terms and moderate leverage, and are trading an amount you would write off entirely, Algobi is a coherent option within the offshore category — start small, verify immediately, and test a full deposit-trade-withdraw cycle with a modest sum first. If you need regulatory protection where you live, a compensation scheme, a proven withdrawal record, published costs or MetaTrader, this is not the broker.

Is Algobi trustworthy?

Is Algobi a scam?

Based on our checks, no. Algobi operates through a declared, registered legal entity — DXA Seychelles Limited, company number 8438281-1 — holding a real securities dealer licence, and publishes a registered address, client agreement, complaints procedure and risk disclosure. We found no regulator warning, no fraud finding and no enforcement action. Fraudulent operators conceal their identity or fabricate licence numbers; Algobi’s verifies independently. Not being a scam is a floor, not a recommendation, and the 5.1 reflects the distance between the two.

Is it actually licensed?

Yes. Licence SD218 is issued to DXA Seychelles Limited and appears on the Seychelles FSA’s published register; we matched entity name, company number 8438281-1 and active status, cross-checked against three independent sources. It is an offshore licence, not a tier-one one, with the consequences set out above.

Can UK or EU traders open an account?

Not if you are in the EU — the European Union appears on Algobi’s own excluded-jurisdictions list, alongside the United States and Canada. The United Kingdom is not named, so a UK resident may be able to open an account, but only with the Seychelles entity. There is no FCA-authorised entity in this group, meaning no FSCS cover, no Financial Ombudsman route and none of the FCA conduct protections including the retail leverage cap. No UK support line is published.

Are there withdrawal problems?

We found no evidence of withdrawal problems and no evidence that withdrawals work smoothly, because we did not complete one. The published policy is specific — up to three business days depending on method, no broker-side fee, funds returned to the original funding method — but our own request entered review before transfer and we cannot tell you what happened next. That is the honest state of our knowledge and the main reason this category scores 4.5. If you test it yourself, remove the variables that cause most delays: complete verification when you open the account, withdraw to the method you funded from, and read any bonus terms before accepting.

Is my money protected?

Partially, and less than at a tier-one broker. The 5% stop-out and 1:200 ceiling limit how badly a margin position can deteriorate. But there is no investor compensation scheme, and Algobi publishes no definitive detail on client-money segregation or negative balance protection. Confirm both from the client agreement before depositing, and size your deposit on the assumption nobody reimburses it.

Frequently asked questions

Which trading platform does Algobi offer?

Algobi WebTrader, a proprietary browser terminal with no download required, plus iOS and Android apps, with TradingView charting. Neither MetaTrader 4 nor 5 is available, so expert advisors and custom MQL indicators are unsupported.

What is the minimum deposit?

About USD 250, according to matching independent sources. Algobi states no figure on its own site for any tier, so this is a third-party number — confirm it with support before transferring funds.

What does it cost to trade?

Cost sits in a variable spread rather than a per-lot commission on most trades. Sampling during the London and New York overlap in July 2026, we observed about 1.9 pips on EUR/USD on Silver and about 1.2 pips on Platinum. Gold takes 50% off Silver’s spreads and 40% off its swaps; Platinum takes 75% and 60%. No spread schedule and no tier thresholds are published.

Does Algobi offer a swap-free account?

Yes, on client request, exempting positions held overnight from the accrued interest otherwise charged as a swap. The broker does not publish whether a substitute administration fee applies, how long any grace period runs, which instruments are covered, or whether external Shariah certification exists. Confirm all four before opening one.

How long do withdrawals take?

The published policy states up to three business days depending on method, no broker-side fee, funds returned to the method used to deposit. We did not complete a withdrawal during testing, so we cannot confirm that from experience.

What is the maximum leverage?

1:200, uniform across Silver, Gold and Platinum, with a 5% stop-out on every tier — moderate for an offshore broker, where 1:500 and 1:1000 are common. Leverage magnifies losses as readily as gains.

What can I trade?

More than 320 CFDs across forex, indices, metals, commodities, shares and cryptocurrencies — including EUR/USD, GBP/USD, USD/JPY and USD/CHF, the S&P 500 and FTSE, gold and silver, oil and coffee, large technology, healthcare and financial shares, and Bitcoin and Ethereum.

How do I verify the licence myself?

Open the Seychelles Financial Services Authority website, find the register of licensed securities dealers, and search DXA Seychelles Limited or SD218. Match three things: entity name, company registration number 8438281-1, and active licence status. All three matched when we ran the check.

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