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Launched in late 2023, AlgosOne.ai is a licensed and registered AI-based trading bot. It uses the latest generation of deep learning tools and natural language processing models to generate and implement trading strategies on behalf of users.
In this review, we’ll score the different aspects of the platform to see how well this AI trading newcomer can stand up to the competition.
Key Takeaways
Authorized and registered to provide services
A reserve fund providing coverage for user funds
No coding knowledge or financial background required
An impressive trade win/loss ratio over 80%
No transaction fees, plus no commissions on losing trades
Trade notifications requiring approval within a tight timeframe
High commissions of up to 25% on winning trades
Limited support channels
Overview
| Year Established | 2023 |
| Platform Type | Algorithmic trading |
| Regulatory Status | Registered withregistration number (17260884) |
| Supported Currencies | USD, EUR, USDT, USDC, XRP, SHIB, DOGE, BNB, ETH, BTC. |
| Minimum Deposit | $300 |
| Device Compatibility | Web and Mobile (Android + iOS) |
Opening an Account
A major plus for the platform is the fact that setup is incredibly easy. Many of AlgosOne’s competitors require coding capabilities as well as sufficient financial know-how to select assets, evaluate technical indicators, create trading strategies, and manage risk. At AlgosOne, though, you just register, deposit funds, and the AI does the rest with no programming required.
AlgosOne has a user-friendly approach to algorithmic trading, and this makes it great for beginners, but those who want greater control may prefer a customizable algorithmic trading tool that lets them set their own strategies.
Another great advantage is the two week, penalty-free trial period, which is long enough to give traders a strong sense of whether AlgosOne is the right AI-based platform for them.
A minor drawback is the need to comply with regulations and provide Know Your Client (KYC) and Anti-money Laundering (AML) documentation, which includes the provision of a copy of a passport or national ID.
Account Setup Score: 90%
Deposits and Withdrawals
The minimum deposit amount at AlgosOne is very low, at just $300, or its equivalent, for trading tier 1. AlgosOne offers compounding to all traders who transfer funds to a trading balance, even at the lowest trading tier.
Currently, the only available FIAT deposit currency options are USD and EUR, but there is a broader range of supported cryptocurrencies, including BTC, ETH, USDT, USDC, XRP, SHIB, DOGE and BNB. Also, deposit methods are limited to bank wires and wallet transfers, with no credit/debit card option.
Once your account is funded, the funds are locked in a trading plan for 24 months. Any additional deposits made within that calendar year are added to the same 24-month plan, though deposits made in the next calendar year start a new 24-month plan. This is pretty standard, as is the fact that you can always terminate your contract early. However, as with most financial institutions, you will pay a penalty for withdrawing funds before the contract expires. Once a withdrawal has been requested, however, the process is prompt and painless, with no delays or transaction fees.
Deposits and Withdrawals Score 75%
Traded Assets
AlgosOne has a diverse portfolio. The AI trading bot increases its profit potential and mitigates risk by trading on a huge array of assets. It takes advantage of emerging opportunities across a wide selection of financial markets, including forex, commodities, stocks, bonds, indices, and cryptocurrencies.
Traded Assets Score: 95%
Trading Tiers
AlgosOne.ai offers a total of 10 trading tiers.
A higher trading tier means:
- More and larger trades are executed each day
- Lower commissions on successful trades
- Higher compensation on losing trades
- A greater ratio of auto-approved trades to 1-click approved trades
There are three types of trades performed by the AlgosOne AI. First are auto-approved trades, for which AlgosOne decides the size of the position, the asset, the direction, and the timing, executing them automatically without the user having to do anything.
Next are 1-click trades. Here too, AlgosOne chooses all the trade parameters, but the account holder is sent a notification message with an “Approve” button. If they don’t click the button within a set time frame, they lose the trade opportunity. Even though it takes no more than a second to click “Approve”, many traders could find this disruptive if they have to respond within minutes to notifications that interrupt their working day.
The last type of trade is a bank trade. Traders with sufficient credits can click “Trade Now” in the trade bank area of the dashboard, and a trade will automatically be executed (in addition to the trades for their tier). Trading credits can be earned from referrals, promotions, affiliate tasks, AlgosOne community participation, and educational achievements.
Trading Tiers Score: 85%
Account Security
AlgosOne shows every indication of being a trustworthy platform. The company is registered, (registration number 17260884) and is authorized to provide financial services, including crypto.
Client and company funds are separated, and AlgosOne maintains a reserve fund that guarantees all client funds are covered in the case of a technical failure, the collapse of the company, a system breach, fraud, or an unexpected market event. The current reserve fund balance can be viewed at all times on the AlgosOne dashboard.
Security Score: 95%
Risk Management
AlgosOne asserts that its proprietary AI algorithms enable the bot to learn from each new dataset, each trade it executes, and each interaction with users. As a result, it is continually improving its trade success rate and reducing risk.
The company returns a percentage of the amount invested in the trade as compensation for losing positions. It also offers all the expected risk management features, including stops and limits, as well as various hedging tools and caps on the percentage of the trader’s account balance that can be allocated per trade. All the parameters for these risk features are set automatically, requiring no user involvement.
Unlike many competitors, which only offer crypto, AlgosOne also offers trading on a range of other, less volatile, traditional financial markets, further lessening exposure.
Risk Management Score: 80%
Platform Fees
A major point in AlgosOne’s favor is the fact that there are no subscription fees for using the AI-based trading bot. There are also no transaction fees. However, traders should be aware that there is a high commission of up to 25% on every profitable trade. At the higher trading tiers, this percentage will be lower. This is taking a large chunk out of traders’ profits, but it is important to also remember that no commissions are charged on failed trades. In addition, the funds from commissions are used to benefit AlgosOne clients, with 50% going to the reserve fund, which pays out compensation on failed trades, and provides client account coverage, and 50% funding platform operations. The profit percentages guaranteed at each trading tier already have commissions factored in, so they are actually showing the net profit.
Platform Fees Score: 80%
Customer Support
At present, the only support channels for AlgosOne clients are email and live chat. However, while more channels such as social media and phone support would be welcome, it’s worth noting that when we sent an email query, we were contacted within less than 24 hours and were provided with excellent assistance from a helpful and knowledgeable team member.
Support Score: 80%
Summary and Final Scorecard
As a registered platform, AlgosOne provides a secure trading environment while offering an exceptional current win rate of over 80%! It performs real-time market data analysis for traders, leveraging AI in trading decision-making, and building automated strategies, all without coding.
Once a user has signed up and deposited funds, AlgosOne algorithms take over, managing every aspect of their trading, which is perfect for beginner traders. Also, its low minimum deposit requirement makes it accessible to traders without large amounts of capital to invest.
There is clear room for improvement with the absence of credit card deposits, the steep commissions on winning trades, the limited support options, and the requirement to approve 1-click trades within a tight window. However, overall, the AlgosOne platform has proved to be a great addition to the algorithmic trading space, and it is ideal for those taking their first steps in the global financial market.
Interested in giving the AlgosOne AI-based trading system a go? Sign up and use the two week trial. To see if AlgosOne is right for you.
Final Score: 85%
*This article was paid for Cryptonomist did not write the article or test the platform.