In this review, we will describe why BeAlgo is a scam that you should avoid at all cost !
Is BeAlgo Legit?
Looking at BeAlgo website, it shows that they are owned by B.A.X LTD. B.A.X LTD is located in Bulgaria, a well-known offshore zone and a preferred location for shady brokerage. BeAlgo is an unregulated broker. Problem with unregulated brokers is that they are not reliable and abuse the regulations. Make sure to stay away from this broker as they are anonymous and that they can disappear any time without notice.
To make sure you are dealing with a regulated and known broker, you should be able to find easily who is the CEO of this brokerage firm, who is running it etc. Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY. This is the reason why BeAlgo is a dangerous broker to deal with.
Are Funds Safe with BeAlgo ?
With such lack of information and BeAlgo being unregulated, funds are not safe. Security of funds is a huge problem with unregulated brokers. A red flag that we noticed is BeAlgo is withholding vital information to users.
BeAlgo could go bankrupt from one day to another since there are no banking information about this broker.
BeAlgo Review: our Conclusion!
BeAlgo is an unregulated broker to avoid at all cost. If you have been scammed, check out our ChargeBack process here or get a Free Consultation by a team of expert by clicking here.