Algobi Review 2026: On a Regulator Alert List, and the Withdrawals Match
Algobi is operated by DXA Seychelles Limited on a tier-3 Seychelles licence, SD218. It appears on the Securities Commission Malaysia investor alert list, and Trustpilot has suspended its score after finding guideline breaches, with 90% of reviews at one star. We score it 2.1 out of 10. Do not deposit.
Quick facts
| Legal entity | DXA Seychelles Limited |
|---|---|
| Regulator | FSA Seychelles |
| Licence number | SD218 |
| Headquarters | Abis Centre, Providence Industrial Estate, Victoria, Mahe, Seychelles |
| Minimum deposit | $250 |
| Maximum leverage | 1:200 |
| Platforms | AlgoBI Mobile App | AlgoBI WebTrader |
| Instruments | 320+ CFDs: forex, indices, metals, commodities, stocks, crypto |
| Segregated funds | Not required under the Seychelles regime and not evidenced |
| Website | algobi.comnot linked: see our verdict |
Why we rated it Scam / Avoid
1. It is on a national regulator’s investor alert list
The Securities Commission of Malaysia publishes an Investor Alert List naming companies that appear to be operating or soliciting investment without the authorisation Malaysian law requires. Algobi is on it. That is not an opinion piece or a review-site verdict. It is a financial regulator formally telling the public to be careful, and it is the single heaviest fact in this review.
Source: Securities Commission Malaysia, Investor Alert List. Entry verified 1 September 2026.
2. The licence is real, and it protects almost nothing
Algobi does hold a Seychelles securities dealer licence, number SD218, in the name of DXA Seychelles Limited. We want to be fair about that: plenty of firms in this space have no licence at all, or quote a number belonging to a different company. This one is disclosed openly on the site alongside a company registration number and a registered address.
What the licence does not come with is the part that matters when things go wrong. The Seychelles regime has no investor compensation scheme, so if the firm fails there is no fund standing behind your balance. For comparison, the UK’s FSCS covers eligible investment claims up to 85,000 pounds per person per firm, and the Cyprus fund pays up to 20,000 euros. Here the figure is zero. Permitted leverage is also far higher: Algobi advertises up to 1:200, where a UK, EU or Australian retail account is capped at 30:1 on major currency pairs.
Source: algobi.com company disclosure, checked 1 September 2026. Compensation and leverage limits per FSCS, the Cyprus ICF and the FCA, ESMA and ASIC retail CFD rules.
3. The complaint pattern is withdrawal refusal, then pressure to deposit more
Individual complaints prove little. A repeating shape across many of them is different, and the shape here is consistent: a withdrawal request is delayed or declined, an account manager responds by asking for a further deposit before the funds can be released, and the balance is drawn down from there. Several accounts describe managers taking an active hand in the trading and opening unusually large positions. Others describe small settlement offers arriving after heavy losses.
We have not been able to verify any individual account of this independently, and we are not asserting that any specific transaction happened as described. What we can say is that the same sequence appears again and again in public reviews, and that sequence is the recognised signature of a firm that is not intending to let money leave.
Source: public Trustpilot reviews for algobi.com, sampled 1 September 2026.
4. Trustpilot has suspended the score for guideline breaches
Algobi’s Trustpilot profile carries roughly 196 reviews over twelve months, about 90% of them one star. More telling than the ratio is the status: Trustpilot has removed the TrustScore because of a breach of its guidelines, and states it has taken down fake reviews on the profile.
A firm with genuinely unhappy customers gets a bad score. A firm whose score has been pulled for manipulation has been caught trying to bury one.
Source: Trustpilot profile for algobi.com, checked 1 September 2026.
Regulation and licence check
The entity taking deposits is named as DXA Seychelles Limited, company number 8438281-1, at Abis Centre, Providence Industrial Estate, Victoria, Mahe, Seychelles, holding FSA Seychelles licence SD218. Check that yourself on the FSA Seychelles register before you take our word for it, and check specifically that the name on the register is the same name that appears on your account and on the payment descriptor when you deposit. A mismatch there is the most common single finding behind a Scam verdict on this site.
One detail worth sitting with. Algobi states it does not accept clients from the United States, Canada, the EU, or a list of sanctioned countries. Read that as a business decision rather than a courtesy. Those are the jurisdictions where a retail CFD firm faces leverage caps, mandatory negative balance protection, compensation schemes and an ombudsman. Operating outside them is what makes 1:200 leverage possible, and it is also what leaves you with no domestic regulator to complain to.
Deposits and withdrawals
This is the section that matters and it is the section where Algobi publishes least. We could not find a clear published withdrawal processing time, withdrawal fee schedule, or minimum deposit on the public site at the time of checking. That absence is itself a finding: a broker confident about paying people out tends to say how long it takes.
What is documented publicly is the complaint pattern in point 3 above. Before you deposit anywhere, and particularly here, three questions are worth answering: what is the stated withdrawal processing time in writing, does accepting any bonus or credit restrict withdrawal, and does the entity receiving your payment match the entity on the licence.
What to do if you already have money with Algobi
We are not a recovery service and we take no fee from anyone who is. Practical steps, in order:
- Put a withdrawal request in writing, through the platform, and keep a timestamped copy. Do not rely on a phone conversation with an account manager.
- Do not deposit further funds to release a withdrawal. There is no legitimate mechanism by which a broker needs a new deposit before returning your existing balance.
- Gather your evidence now: account statements, the exact entity name on your payment, and every written exchange.
- If you paid by card, ask your bank about a chargeback, and ask quickly. Card scheme time limits are measured in months from the transaction and they are unforgiving.
- Complain to the FSA Seychelles as the licensing authority, and to your own national regulator, which may be able to add the firm to its warning list even where it cannot recover funds.
- Treat any inbound offer to recover your money for an upfront fee as a second fraud. Victims of the first scam are the exact list that recovery-fraud operators buy.
Questions traders ask
Is Algobi a scam?
We rate Algobi Scam / Avoid at 2.1 out of 10. It holds a genuine Seychelles licence, so it is not a purely fictitious operation, but it appears on the Securities Commission Malaysia investor alert list, its Trustpilot score has been suspended for guideline breaches, and the documented complaint pattern is withdrawal refusal followed by pressure to deposit more. That combination is why the rating is where it is.
Is Algobi regulated?
Yes, by the Financial Services Authority of Seychelles under licence SD218, held by DXA Seychelles Limited. That is a real licence and a real register. It is also our tier 3, the weakest band we score, because it carries no investor compensation scheme, no statutory leverage cap and no ombudsman you can escalate a complaint to.
Can I withdraw money from Algobi?
Public reviews describe a repeated pattern of delayed or refused withdrawals, often paired with a request for a further deposit before funds are released. Algobi does not appear to publish a withdrawal processing time or fee schedule. We could not verify individual accounts, and we would not deposit on this evidence.
What happens to my money if Algobi fails?
There is no compensation scheme covering Seychelles-licensed firms, so nothing is guaranteed. Client fund segregation is not mandated by that regime and we found no evidence of a named custodian bank, which means segregation cannot be independently confirmed.
Why does Algobi not accept EU or US clients?
Those jurisdictions impose retail leverage caps of 30:1 or lower, mandatory negative balance protection, compensation schemes and formal complaints routes. Staying outside them is what allows 1:200 leverage to be offered. It also means that if something goes wrong, there is no regulator in your own country with jurisdiction over the firm.
Sources
- Securities Commission Malaysia, Investor Alert List, entry verified 1 September 2026
- algobi.com corporate disclosure: entity, company number, registered address, licence SD218, leverage and instrument range, checked 1 September 2026
- Trustpilot profile for algobi.com: review volume, rating distribution and score suspension notice, checked 1 September 2026
- FSCS investment compensation limit, Cyprus Investor Compensation Fund limit, and FCA, ESMA and ASIC retail CFD leverage rules, used for the tier comparison