Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighA genuine but low-tier Seychelles securities dealer licence, confirmed on the regulator's own register, set against a Malaysian alert-list entry naming the exact website for unlicensed activity.
Identity & transparency
6/10 · HighThe legal entity, company number and licence are disclosed and verifiable, but the address on the site differs from the regulator's record and the operation also runs alias domains it does not disclose.
Withdrawals & conduct
9/10 · CriticalA consistent fund-integrity pattern across platforms: withdrawals stalled, further payments demanded, balances reduced to zero, with amounts, dates and account-manager names given.
Reputation
9/10 · Critical197 Trustpilot reviews at 90 percent one star with the rating suspended after fake reviews were removed, plus a national regulator alert; a handful of positive entries do not offset that.
Website claims
7/10 · HighPresents itself as authorised and safe with no link to the register, does not disclose the Malaysian alert, and serves clients in jurisdictions its own restricted list excludes.
Operational history
7/10 · HighTrading content on the domain only appears from 2025 after years as a placeholder page, and the company could not be dated, so the evidenced operating history is roughly one year.
Who they are
A quick desk file on the company behind the brand.
- Brand: AlgoBI
- Legal entity: DXA Seychelles Limited
- Registered: Seychelles, company number 8438281-1 (shown as C8438281 on the Seychelles Business Register). The site gives Abis Centre, Providence Industrial Estate, P.O. Box 1466, Victoria, Mahe; the regulator's own record gives Providence Complex, Office A17 C, Providence, Mahe.
- Website: www.algobi.com. The Malaysian regulator also names algo-bi.net and kegasdett.com as part of the same operation.
- Only licence: Financial Services Authority of Seychelles, securities dealer, licence number SD218 quoted by the broker. The same licence record also carries a second brand, HighMarkets.
- Offers: CFDs on more than 320 instruments (forex, indices, metals, commodities, shares, crypto), a web platform built on TradingView charts and a mobile app. Minimum deposit 250 USD, leverage to 1:200, tiers named Silver, Gold, Platinum and VIP.
- Not accepted: the site says it does not serve residents of the USA, Canada, the European Union, Iran, Iraq, Syria, North Korea, Sudan, Myanmar and Russia.
- Age claim: the site advertises no founding year. The earliest trading content we could evidence on the domain dates from 2025.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
Financial Services Authority of Seychelles
A Seychelles securities dealer authorisation. The regulator's own register lists DXA Seychelles Limited as a licensed securities dealer, and records the trade name ALGOBI together with the website algobi.com, so the licence genuinely belongs to this operation. What it does not do is protect you. Seychelles has light capital requirements, no client compensation fund and no ombudsman you can appeal to, and the licence gives no standing at all to clients in Malaysia, the Gulf, Southeast Asia or Latin America, which is where the complaints come from. The register does not publish licence numbers or issue dates, so the number SD218 is the broker's own statement rather than something the register displays, and the broker publishes no verification link of its own.
Why we reached this verdict
How the evidence adds up.
Three findings drive this, and one pulls the other way.
- A national regulator names the exact website. The Securities Commission Malaysia's Investor Alert List carries an entry for Algobi listing https://www.algobi.com/, https://kegasdett.com/, https://www.algo-bi.net and a Facebook page, dated 2025, with the remark that it is a platform operating an illegal investment scheme and carrying on unlicensed capital market activities of dealing in securities. That is a regulator's own finding about this exact domain, not a review site's opinion.
- The complaint pattern is about money, not service. On Trustpilot the page holds 197 reviews with 90 percent at one star. The accounts repeat one mechanism: a withdrawal is requested, then extra payments, audits or verification steps appear, then the balance falls or is zeroed. Amounts and details are given (750 USD in profit stopped out, 2,600 USD deposited and never returned, a 320,000 USD loss, a 185.58 EUR deposit prompt during a supposed refund, named account managers). The same failure appears on a second review platform in January and February 2026, where users describe bonuses added without consent and then used to justify blocking a withdrawal. Same failure, clustered in time, on more than one platform, with checkable specifics: all four pattern tests are met.
- Being asked to pay more before funds are released has no innocent version. Several clients describe exactly that, including one who was talked through what turned out to be a deposit screen while expecting a refund. This is the advance-fee mechanic.
- The counterweight is real and we credit it. The licence checks out. DXA Seychelles Limited appears on the Seychelles FSA securities dealer register, and the register itself records the trade name ALGOBI, the phone number, [email protected] and the website algobi.com. This is not a clone wearing someone else's credentials, and the company exists on the Seychelles Business Register. That keeps the verdict at likely rather than confirmed.
- The track record is thinner than the domain age suggests. algobi.com carries a registration date of 16 December 2017, but archived copies show a renewal placeholder in 2015 and a coming soon page in 2018, with no broker content until 2025. We could not obtain an incorporation date for DXA Seychelles Limited, so the age figure rests on the domain alone and is an upper bound. On what we could evidence, the trading business is roughly a year old.
- Scope does not match the licence. A Seychelles securities dealer licence gives no protection to clients in Malaysia, the Gulf, Southeast Asia or Latin America, which is where the complainants are. The site also says it does not serve the USA, yet a US client reports a 320,000 USD position with the firm.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The Securities Commission Malaysia Investor Alert List carries an entry for Algobi, year 2025, listing https://www.algobi.com/, https://kegasdett.com/, https://www.algo-bi.net and a Facebook page, with the remark that it is a platform operating an illegal investment scheme and is carrying on unlicensed capital market activities of dealing in securities.
E2The Seychelles FSA securities dealer register lists DXA Seychelles Limited at Providence Complex, Office A17 C, Providence, Mahe, with trade name ALGOBI, phone +248 4373229, email [email protected] and the websites www.algobi.com and www.highmarkets.com. The identity check passes: this broker is using its own licence, not another firm's.
E3The Seychelles Business Register returns one result for DXA Seychelles: registration C8438281, DXA SEYCHELLES LIMITED, entity type Company, industry business services. No incorporation date is published, so the company could not be dated.
ModerateSeychelles Business RegisterE4Trustpilot holds 197 reviews for algobi.com, 195 of them in the last twelve months, distributed 90 percent one star and 3 percent five star. The dominant one-star theme is withdrawal refusal followed by pressure to deposit more, with specifics such as a 750 USD profit lost to a stop-out immediately after a withdrawal request, 2,600 USD deposited and never returned, and a 320,000 USD loss.
E5Clients describe being asked for further payments before funds would be released, including repeated requests for unusual fees before a withdrawal could supposedly be processed, and one client who was walked through what turned out to be a deposit screen while expecting a refund of 185.58 EUR.
E6Trustpilot states that the company rating is unavailable due to a breach of its guidelines and that a number of fake reviews were removed for this company. Manufactured positive reviews are a reputation-management signal, not a sign of satisfied clients.
E7A second review platform holds entries from January and February 2026 rating the site 1.0 out of 5, describing withdrawal requests repeatedly blocked or cancelled, bonuses added without consent and then used to justify the block, and communication kept to phone calls while written clarification was avoided.
E8An archived copy of algobi.com from January 2018 shows only a coming soon placeholder, and a 2015 copy shows a domain renewal notice. No broker content appears on the domain until 2025, so the trading operation is far younger than the registration date suggests.
E9The broker's own footer states that the ALGOBI brand is owned and operated by DXA SEYCHELLES LIMITED, registered in Seychelles under number 8438281-1 at Abis Centre, Providence Industrial Estate, P.O. Box 1466, Victoria, Mahe, and authorised and regulated by the Financial Services Authority of Seychelles under licence number SD218. The address given differs from the one the regulator holds, and no link to the register is provided anywhere on the site.
E10The site states it does not offer services to residents of the USA, Canada, the European Union and several other countries, yet a United States client publicly describes a 320,000 USD position with the firm, and the Malaysian regulator records the platform soliciting in Malaysia. The licence covers none of those markets.
E11A broker information site lists 28 user reviews for AlgoBI with a mix of positive accounts of quick withdrawals and responsive account managers alongside negative ones, and repeats the SD218 licence details. The positive side of the record exists but is small next to the volume of fund-integrity complaints.
E12Domain records show algobi.com registered on 16 December 2017 with a change recorded on 3 December 2025, algo-bi.net registered on 23 December 2025, kegasdett.com registered on 21 October 2025 and highmarkets.com registered on 3 April 2022. The two newest domains are the ones the Malaysian regulator names alongside the main site.
ModerateVerisign registry domain records
The other side
The strongest case in this broker’s favour.
The fair case for AlgoBI, and we looked for it.
- The regulatory claim is honest. The licence number and the legal entity on the website match a real entry on the Seychelles regulator's own register, and that register even lists algobi.com. Many suspect brokers fail exactly this test. AlgoBI passes it.
- The company is real and traceable. The Seychelles Business Register returns DXA Seychelles Limited as a live company, with an address that sits in the same district as the one the regulator holds.
- The firm answers its critics in public. Almost every negative Trustpilot review has a reply asking the client to complete a questionnaire so the case can go to support. Silent operators do not usually do that, and at least one reviewer reported getting funds back.
- Some complaints are trading losses, not theft. Several accounts describe an adviser encouraging high-risk positions that lost money. Losing money on leveraged CFDs is normal and is not fraud, and we did not score those as fund-integrity failures.
- Recovery-agent spam is present and we discounted it. At least one long review promoting a fund-recovery service was set aside, because those are usually written to harvest victims rather than to report facts.
- Offshore is not the same as fraudulent. Hundreds of legitimate brokers hold only a Seychelles licence. On its own that is a risk tier, not a verdict.
- The Malaysian alert is about operating without a Malaysian licence and about the scheme being run there. It is not a Seychelles enforcement action, and the Seychelles regulator has not withdrawn the licence.
What would change this
What we would need to see to revise the verdict.
Concrete things that would move this verdict in either direction.
- Would improve it: the Securities Commission Malaysia removing Algobi from its Investor Alert List, with the removal visible on the list itself.
- Would improve it: a sustained run of independently verifiable payouts, with dated proof of funds received, replacing the current pattern on Trustpilot and other platforms.
- Would improve it: the firm publishing a direct verification link to its Seychelles register entry, an audited statement of client-money segregation, and a named complaints process with outcomes.
- Would improve it: documented resolution of the specific cases quoted here, confirmed by the clients themselves.
- Would worsen it: a second regulator naming algobi.com, or the Seychelles FSA suspending or withdrawing the SD218 licence.
- Would worsen it: a court or chargeback record, or a police action, naming DXA Seychelles Limited over withheld client funds.
- Would worsen it: confirmation that fees are demanded as a condition of releasing a withdrawal, in writing from the company.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Seychelles FSA securities dealer register
The regulator's own list, where DXA Seychelles Limited appears with the trade name ALGOBI.
Securities Commission Malaysia Investor Alert List
Search for Algobi to see the alert naming algobi.com.
Seychelles Business Register
Search DXA Seychelles to confirm the company exists.
Trustpilot reviews for algobi.com
Client reviews for this exact domain, with the rating currently suspended.
Frequently asked questions
Quick answers about this broker’s safety.
Is AlgoBI a scam?
We rate AlgoBI a likely scam. Malaysia's securities regulator lists algobi.com as a platform operating an illegal investment scheme, and clients across several countries report that withdrawals were blocked and balances vanished. The company and its Seychelles licence are real, which is why we say likely rather than confirmed.
Is AlgoBI regulated?
Yes, but only offshore. DXA Seychelles Limited is on the Seychelles FSA securities dealer register, listed with the trade name ALGOBI and the website algobi.com. A Seychelles licence is low tier. It has modest capital requirements, no compensation fund, and it gives you almost nothing if you live outside Seychelles.
Can I withdraw my money from AlgoBI?
Many clients say they could not. The repeated account is that a withdrawal request triggers extra verification steps, new fees or pressure to deposit more, and in several cases the balance was reduced or zeroed. Some clients did report getting funds back after escalating.
Is my money safe with AlgoBI?
We would not treat it as safe. There is no evidence of segregated client accounts or an independent compensation scheme, and the complaint pattern is specifically about money not coming back.
Who owns AlgoBI?
The brand is owned and operated by DXA Seychelles Limited, a Seychelles company with registration number 8438281-1. The same company also runs a second brand, HighMarkets, on the same licence record.
How old is AlgoBI?
The domain algobi.com carries a 2017 registration date, but archived copies show it was only a placeholder page until 2025. The trading business we can evidence is about a year old. We could not obtain an incorporation date for the company, so the age figure is an upper bound.
What is the Seychelles FSA licence SD218 worth to me?
It proves the firm is a registered securities dealer in Seychelles. It does not give you a financial ombudsman, a compensation fund, or any recourse in your own country. Treat it as a business registration with light supervision, not as investor protection.
Is AlgoBI a clone of another broker?
No. We checked the licence against the Seychelles register and the entity, trade name and website all match. AlgoBI is using its own credentials, not another firm's.
Why is AlgoBI on Malaysia's Investor Alert List?
The Securities Commission Malaysia added it in 2025 with the remark that it is a platform operating an illegal investment scheme and carrying on unlicensed capital market activities of dealing in securities. The entry names algobi.com, algo-bi.net, kegasdett.com and a Facebook page.
Why has Trustpilot suspended the AlgoBI rating?
Trustpilot states the rating is unavailable because of a breach of its guidelines and that it removed a number of fake reviews for this company. The page still holds 197 reviews, about 90 percent of them one star.
AlgoBI asked me to pay a fee before releasing my withdrawal. Is that normal?
No. A demand for a tax, fee, insurance or verification payment before your own money is released is the advance-fee pattern. Do not pay it. Paying almost never releases the funds and usually leads to further demands.
What should I do if I already deposited with AlgoBI?
Request a withdrawal in writing, keep every receipt, email and ticket number, and contact your bank or card issuer about a chargeback or recall straight away. Report the case to your national regulator and to the Seychelles FSA. Do not pay anything further, and avoid recovery agents who ask for money up front.
What should I check before depositing with any broker?
Check that the licence is issued by a regulator in your own country, open the regulator's register yourself and confirm the exact website is listed, read one-star reviews for withdrawal complaints rather than for spread complaints, and check whether the firm appears on any national investor alert list.
What we recommend
The practical takeaway from everything above.
Treat AlgoBI as high risk and do not send it money you cannot afford to lose entirely.
- Do not deposit. The pattern reported by clients is that deposits are easy and withdrawals are not.
- If you already have funds there, submit a withdrawal in writing now, keep every email, ticket number and payment receipt, and take screenshots of your balance.
- Never pay a tax, fee, insurance, audit or verification charge to release a withdrawal. No legitimate broker requires a new payment before returning your own money.
- If you paid by card or bank transfer, contact your bank immediately and ask about a chargeback or a recall. Time limits apply.
- Report it to your own national financial regulator, and to the Seychelles FSA as the licence issuer.
- Ignore anyone who contacts you offering to recover your money for an upfront fee. Those approaches are a second scam and they are already circulating around this brand.
- If you want a CFD broker, choose one licensed in your own country, where a complaints scheme and compensation cover actually apply to you.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed August 15, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.