FX Scam Algotechs (https://algotechs.com/ ) and BeAlgo (bealgo.com)

ChilledinSpain

Recruit
Messages
3
They’ve completely disappeared, probably back to Eastern Europe. I never trusted them completely so never invested any real money with them. I lost $2000, considering I could have invested considerably more, it’s nothing more than a lesson learned.
 
Messages
3
Thats whatbthey do.
You have now lost ALL your money mate
SORRY

Guys who are keen to invest in Forex ready this incident and BE CAREFUL WITH FOREX BROKERS SPECIALLY FROM CYPRUS... golden-fx.com; Bealgo, Algotechs..

They are not an ATS company, they claim they have an algorithm, but i am sure they do not have any auto trading software.. they are just fraudsters, who use our money to make their own profits and at the end after more than a year they might give principal or less amount. Post which they will open your trades in both the directions buy and sell; so that you are in loss forever... Below is the sequence of incident that happened to me with ALGOTECHS: algotechs.com

This happen to me this April 2019... When i requested for withdrawals.. it took 1 month to get the money 500eurs; Post this withdrawal within few days i saw all my margins used and all trades are in negative.. so i tried calling account manager from Algotechs, Robin Hill.. No answers, no response, tried to lure him saying that i need to deposit more, still no answer... Finally when i was frustrated, i sent an email to Bealgo and Robin stating i will register a complain with Regulators... they responded mentioning we do not deal with your trades directly it is Algotech software which works, blah, blah, blah... We have forwarded the request to Algotechs they will reach out to you... After 3 days i got a call from a person called Yhan Valis, yhan at algotechs.com,
Risk Management Executive at Algotechs; very rude and said you have few options ... keep the trade as-is, add more money so we will recover the trades.. From his conversation it seems that they are not going to give our money whatever you do... I have lost huge money with algotechs..
So guys, in short PLEASE, PLEASE, PLEASE... do not put money with these brokers... they are fraud and loot your money...
Let us jointly be together to file a complain against these fraudster..
I do not want any other guys to fall prey with these people.. Ping me and we should form a group to fight with these Fraud...
 
Messages
3
They claim to be a leading international algo trading company . They uses a broker called bealgo.com. One can use bealgo website to deposit money to the broker. They claim that they would take 30% of the profit and money can be withdrawn at any time. Bealgo also provides MT4 where one can see open trades. They only trade EUR/ USD pair

I deposited 2100 EUR with them through 3 credit card transactions . Dated 16/09/2017, 4/10/2017 and 2/10/2018.

I posted my first withdrawal request on 03/10/2018 for 1000 EUR. I got a call from Robin Hill , my account manager from Algotechs, that they can not process credit card withdrawal request and I should request a wire transfer. I posted a wire transfer request to my bank on 07/10/2018 for 2500 EUR. Nothing happened . I inquired status of my request several times through bealgo customer support, never received any reply. 29/10/2018 , I called Robin Hill (account manager from Algotechs) that I want to to close my account . I send the request number of times to bealgo but nothing happened. I also asked him to close all open trades and cease trading activities from my account.

Immediately after that some huge trades were placed in my account and it went to negative. Also these trades were also fake . A buy order is placed for lot size 2.52 on 29/10 at 12:50 @1.4459 which is making loss of EUR 1800. Interestingly EUR/USD pair today was between 1.13697 - 1.13754. Please check the account report before I spoke to Algotechs guy Robin Hill and after that. The profitable open trades disappeared .
Guys who are keen to invest in Forex read this incident and BE CAREFUL WITH FOREX BROKERS SPECIALLY FROM CYPRUS... golden-fx.com; Bealgo, Algotechs..

They are not an ATS company, they claim they have an algorithm, but i am sure they do not have any auto trading software.. they are just fraudsters, who use our money to make their own profits and at the end after more than a year they might give principal or less amount. Post which they will open your trades in both the directions buy and sell; so that you are in loss forever... Below is the sequence of incident that happened to me with ALGOTECHS: algotechs.com

This happen to me this April 2019... When i requested for withdrawals.. it took 1 month to get the money 500eurs; Post this withdrawal within few days i saw all my margins used and all trades are in negative.. so i tried calling account manager from Algotechs, Robin Hill.. No answers, no response, tried to lure him saying that i need to deposit more, still no answer... Finally when i was frustrated, i sent an email to Bealgo and Robin stating i will register a complain with Regulators... they responded mentioning we do not deal with your trades directly it is Algotech software which works, blah, blah, blah... We have forwarded the request to Algotechs they will reach out to you... After 3 days i got a call from a person called Yhan Valis, yhan at algotechs.com,
Risk Management Executive at Algotechs; very rude and said you have few options ... keep the trade as-is, add more money so we will recover the trades.. From his conversation it seems that they are not going to give our money whatever you do... I have lost huge money with algotechs..
So guys, in short PLEASE, PLEASE, PLEASE... do not put money with these brokers... they are fraud and loot your money...
Let us jointly be together to file a complain against these fraudster..
I do not want any other guys to fall prey with these people.. Ping me and we should form a group to fight with these Fraud...
 

ChilledinSpain

Recruit
Messages
3
Let’s have it right shall we guys. They’re thieves, nothing more than common thieves.

I would be all for going after them, but I doubt we’ll ever find them, or if we did the money would be long gone.
 

Mac101

Private, 1st Class
Messages
60
Guys who are keen to invest in Forex ready this incident and BE CAREFUL WITH FOREX BROKERS SPECIALLY FROM CYPRUS... golden-fx.com; Bealgo, Algotechs..

They are not an ATS company, they claim they have an algorithm, but i am sure they do not have any auto trading software.. they are just fraudsters, who use our money to make their own profits and at the end after more than a year they might give principal or less amount. Post which they will open your trades in both the directions buy and sell; so that you are in loss forever... Below is the sequence of incident that happened to me with ALGOTECHS: algotechs.com

This happen to me this April 2019... When i requested for withdrawals.. it took 1 month to get the money 500eurs; Post this withdrawal within few days i saw all my margins used and all trades are in negative.. so i tried calling account manager from Algotechs, Robin Hill.. No answers, no response, tried to lure him saying that i need to deposit more, still no answer... Finally when i was frustrated, i sent an email to Bealgo and Robin stating i will register a complain with Regulators... they responded mentioning we do not deal with your trades directly it is Algotech software which works, blah, blah, blah... We have forwarded the request to Algotechs they will reach out to you... After 3 days i got a call from a person called Yhan Valis, yhan at algotechs.com,
Risk Management Executive at Algotechs; very rude and said you have few options ... keep the trade as-is, add more money so we will recover the trades.. From his conversation it seems that they are not going to give our money whatever you do... I have lost huge money with algotechs..
So guys, in short PLEASE, PLEASE, PLEASE... do not put money with these brokers... they are fraud and loot your money...
Let us jointly be together to file a complain against these fraudster..
I do not want any other guys to fall prey with these people.. Ping me and we should form a group to fight with these Fraud...
Abhi
EXACTLY what they did to us all.

Im with you.
 

primusSux

Recruit
Messages
3
Just want to add my voice to the chorus of the scammed. I invested back in Q3 of 2018 and they evaporated all of my account holdings in 36 hours. Same as everyone else is saying, they opened huge losing trades and tried to blame it on some trading bot BS. They emptied my account through terrible trades on April 7th which is different from the day many others claim they got wiped out so I speculate that they are a straight up scam and this isn't some technical glitch. Those responsible need to go to prison for blatant fraud. They tried to get more money out of me but it was clear to me at that point that they were just a scam. If there is anything I can do aside from fill out the whistleblower form someone attached, please reach out to me.
 

Mac101

Private, 1st Class
Messages
60
Just want to add my voice to the chorus of the scammed. I invested back in Q3 of 2018 and they evaporated all of my account holdings in 36 hours. Same as everyone else is saying, they opened huge losing trades and tried to blame it on some trading bot BS. They emptied my account through terrible trades on April 7th which is different from the day many others claim they got wiped out so I speculate that they are a straight up scam and this isn't some technical glitch. Those responsible need to go to prison for blatant fraud. They tried to get more money out of me but it was clear to me at that point that they were just a scam. If there is anything I can do aside from fill out the whistleblower form someone attached, please reach out to me.
Main thingnis. DONT LET THESE LOSES GO COLD
 
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