Avoid EFX Algo at All Costs
Avoid EFX Algo at All Costs — Expensive Setup, Zero Accountability This a 2nd review for this company because 1st was removed. They claimed they can't find me as ever being their customer, but I have all the supporting docs and emails, so they are obviously lied. I signed up with EFX Algo in April 2024, paying a hefty $7,000 upfront setup fee plus $97/month for their automated Forex bot. For nearly a year, things ran smoothly—returns were decent, and drawdowns stayed within a manageable range. But everything unraveled in April 2025, when Trump’s tariffs triggered major volatility. My account, funded with $40,000, saw an overnight drawdown spike that wiped out a significant portion of my capital. The bot failed to adapt, and instead of protecting or hedging, it kept compounding losses. It briefly recovered, only to crash again in August—this time with no clear explanation. What’s worse, EFX Algo shut down all communication on Circles, the community platform they use for member support. My drawdown ballooned to 41%, and every attempt to reach the company was ignored. At that point, I pulled the plug and withdrew what was left. EFX Algo’s lack of transparency, poor risk controls, and complete silence during critical moments make them unfit for serious traders. Under no circumstances should you sign up. Just read the one-star reviews—I’m far from the only one burned by this.