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Can I withdraw on Algo Management?
James Henry
Guatemala
2023-10-24
ANSWER There is no guarantee that you can successfully withdraw your funds from Algo Management. Fraudsters always use tactics to swindle money and there are two situations you are likely to encounter: They may initially give some excuses, saying you are not allowed to make a withdrawal unless you pay additional fees. Alternatively, they may allow you to make a few small withdrawals to convince you of their credibility. Then, unreasonable requests for extra money will follow.Anyway, Algo Management is a fraudulent platform and thus we urge you to stop having further dealings with it.Algo Management conceals information about its actual operator and regulatory status. It is a significant scam indicator as legitimate counterparts always prominently display their accreditation and licensing data to ensure transparency. Furthermore, the Financial Authority (Autorité des Marchés Financiers, AMF) has added Algo Management to its warning list for it being an unauthorized company involved in forex activities, which further substantiates that Algo Management doesn't comply with relevant regulations (the AMF warning list can be accessed here).Therefore, we strongly suggest investors stay away from Algo Management. This unlicensed broker poses significant risks to investors, such as financial losses and identity theft. If anything goes wrong, its customers are not able to recover their funds or get any compensation. To avoid such a disaster, it is advisable to choose fully regulated brokers.
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