Algo Signals is a free, easy-to-use online software for forex and cryptocurrencies. They take trading to a whole new level, by connecting South African investors directly to licensed brokers and helping them effortlessly place a trade through their world-class, automated trading signals.
Read our full review to discover exactly how Algo Signals work, the variety of accounts they offer and the colorful “edge” they bring to trading.
Algo Signals Review
Algo Signals enhances South African investor’s trading experience by offering them the opportunity to easily upgrade their account as they progress with their trades. Their software is specially catered to novice traders, by allowing them to practice with no risk whatsoever through their free demo account. This allows South African traders who may have never traded before to become familiar with the platform, tools and special features, while gradually improving their trading skills. Then, once they feel ready, they can easily switch to real mode and begin trading with real money.
Novice Account
The novice account is Algo Signal’s initial account level. Novice traders have the chance to start trading with a minimum deposit of only $250. Once they have made this deposit, South African traders will gain immediate access to special benefits including multiple brokers, 3 currency pairs, the ability to keep 3 trades open at the same time, as well as the Leaderboard multiplier x1.
Expert Account
Once South African traders have gotten enough practice from the demo account or first level novice account, they can easily upgrade their trading experience by making a $500 deposit. This will move them up to the expert account with added benefits of 9 currency pairs available to trade, additional settings they can adjust and the Leaderboard multiplier x2.
Master Account
For South African traders to gain the full Algo Signals experience with no limits whatsoever, they can do so by upgrading to the final level, the master account. This will become available to all investors who make a 500$ deposit to two different brokers. The master account includes all the benefits mentioned above, plus the upgraded Leaderboard multiplier x3, as well as all the advanced settings and currency pairs unlocked. South African master account traders will finally gain exclusive access to Algo Signal’s VIP customer support, for the ultimate trading software experience.
Demo Account
Algo Signals offers all South African users a free demo account to practice risk-free before switching to a real account and begin trading with real money. The demo account offers traders instant access to $1.500 of virtual money and all the features fully unlocked so they can see all that Algo Signals offers for themselves and practice. When they feel ready, they can then easily switch from demo mode to real mode, make a deposit, and start trading with real money. The demo account will be available to all registered users for 5 full days.
Trading Software
As mentioned previously, Algo Signals offers South African users the chance to trade forex and cryptocurrencies with a user-friendly software that transforms their entire trading experience. Traders now have the option of adjusting a variety of settings according to their personal preference, such as Max Daily Trades, Reverse Trading, Daily Take Profit and Daily Stop-Loss. Investors can even customize and set the probability of the trading signals, to be fully in control of their experience. Finally, as explained above, these settings will all gradually become accessible, as traders upgrade their account levels. In the final, master account, all special features will be available.
How to Trade Forex with Algo Signals
First of all, South African traders can adjust their take profit and stop loss setting. This will allow them to set the exact amount they would be satisfied in “taking home” (take profit) or not willing to cross in losses (stop loss). The system will automatically stop the user’s trades when they have reached either point. For example, if an investor has set their take profit at $100 and their stop loss at $50, the system will automatically close that trade when it reaches the $100 or $50 mark.
Algo Signals Scam
One of the questions that South African traders may ask is the one about the Algo Signals scam. During our review we tested several features of the Algo Signals.
Deposit and withdrawal went without any problems and we did not experience any difficulties with account verification. Our winning were paid out without any problems. We don’t have a reason to believe that Algo Signals scam exists.
How Does Algo Signals Work?
Algo Signals does not require any downloads or installations. It is an online platform, which means it will not take any space on your computer. It runs directly through your web browser. With Algo Signals, South African traders gain access to several licensed brokers, which they can trade directly with through the Algo Signals platform and automated signals. Therefore, it is important to understand that Algo Signals is not a broker, but a software that helps enhance South African investors entire trading experience. This, in turn, means that no deposits or withdrawals are processed by Algo Signals. All user’s trading funds will be processed directly through their broker. Thus, payment methods vary from broker to broker.
What is the Algo Signals Leaderboard?
The leaderboard offers South African investors an exciting opportunity to win big prizes by earning special points which could give them exclusive access to the Algo Signals leaderboard. The board is based on the formula below.
The leaderboard is reset each month so that all South African traders have an equal and fair chance to win big.
Customer Support
Algo Signals offers all South African registered users 24/5 professional customer support. Once users have registered to the software (for free), they will gain immediate access to their live chat, where a professional agent will happily answer all questions or solve potential issues as fast as possible.
Payment Methods
As mentioned previously, Algo Signals is a free online software that connects users directly to brokers. They do not handle any deposits or withdrawals. South African traders can easily begin trading with a minimum deposit of $250 to any of the available brokers they choose. For any questions about exact payment methods, investors can contact their broker directly, for this varies from broker to broker.