Company Information

Company Name: Algo Forex Funds
Company Legal Name: Algo Trading Solutions Limited
Company Registration No.: 3335261
Operating Since: 2023
CEO Name: Undisclosed

Challenge Details

Algo Forex Funds offers two main funding options: the ALGO PREMIUM Evaluation and an Instant Funding Program. Below are the detailed features of both programs.

ALGO PREMIUM Evaluation Details

Pricing:

$100,000 Account: $345
$250,000 Account: $575
$500,000 Account: $950
$800,000 Account : $1,495
$1,000,000 Account : $1,850

Rules:

Profit Target: 6%
Total Loss: 20%
Daily Loss: 6%
Profit Share: 80%
Drawdown Type: Trailing Drawdown
Time Limit: Unlimited
Leverage: 1:100 in the challenge phase; 1:30 for funded accounts
Max Lot Size: No limit
Payout Frequency: 7 Days
Allows Copy Trading: Yes
Min Trading Days: 0 Days

Instant Funding Details

Pricing:

$100,000 Account: $689
$250,000 Account: $1,149
$500,000 Account: $1,899
$800,000 Account : $2,989
$1,000,000 Account : $3,699

Rules:

Profit Target: None
Total Loss: 20%
Daily Loss: 8%
Profit Share: 80%
Drawdown Type: Trailing Drawdown
Time Limit: Unlimited
Leverage: 1:100 in the challenge phase; 1:30 for funded accounts
Max Lot Size: No limit
Payout Frequency: 7 Days
Allows Copy Trading: Yes
Min Trading Days: 0 Days

Scaling Plan

Algo Forex Funds operates on a scaling plan, which allow traders to grow their profit split based on the consistent profitability.

Spreads and News Trading Rules

Spreads:

The exact spread values are not disclosed by Algo Forex Funds but are supported by FXDD Broker.

News Trading Rules:

News trading is fully allowed by Algo Forex Funds. There are no restrictions on trading during major news events.

Other Important Rules

Daily Drawdown Calculation:

The daily drawdown is calculated based on Equity based Drawdown and the drawdown limit changes at any moment of the day. as it is Equity Based Drawdown, the drawdown limit will increase or decrease as the account balance grows or shrinks.

Countries Banned from Purchasing:

Traders from countries restricted by RiseWorks are not eligible to participate. Traders can check the restricted countries list here :- https://help.riseworks.io/en/articles/7198515-unsupported-countries-regions-and-states

Prohibited Trading Strategies:

Third-party account management is strictly prohibited. Each trader must manage their own funded account.
Sharing funded account credentials is not allowed.
Passing services are allowed only during the evaluation phase (challenge).

Payout Methods:

Algo Forex Funds process payout via cryptocurrency to the trader's nominated wallet address.

Trading Commissions:

Algo Forex Funds is backed by FXDD broker but commissions per lot on forex pairs are not explicitly mentioned.

IP Rule:

Algo Forex Funds allow traders to trade from multiple IPs is permitted, accommodating traders who use different devices or travel frequently. Although Sharing an IP with other traders is not allowed.

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Algo Forex Funds

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