Your Algo is a mobile app compatible with 17 Forex brokers and providing copy trading services to regular traders like you and me.
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If traders wish to trade with a broker not listed in the app, they’ll pay Your Algo $59 monthly fee to keep auto-trading.
On the other hand, those who can pick from the listed Forex brokers only pay 1 pip per traded contract.
The app is owned and operated by iForexRobot which is a very controversial development team.
There are multiple strategies here and traders can use more than one strategy at a time.
Statistics can also be viewed directly on the platform.
To copy trades, traders need to follow other traders who have posted their algorithms or look at the “activity feed”.
The notification feature also lets traders know when a trade has been posted so they can copy it if they wish.
This service looks very convenient. However, it’s not clear how unique this service is compared to the rest of the copy trading services on the web.
Is Your Algo Forex app legit?
Your Algo states that traders whose algorithms are listed in the app hold a live and funded trading account.
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It is the prerequisite to getting listed in the Your Algo app.
It’s not clear how traders listing their strategies on this app are paid.
The website should be upfront about this.
The performance statistics section is quite cumbersome to go through. While this is the case, they omit important parameters such as drawdown and percentages.
The results aren’t falsified but again it’s hard to verify them.
Your Algo is still a very new app with not so many users.
Secondly, they need to work on the trading statistics section. They need to provide verified stats (connecting the platform with myfxbook would be viable).
Thanks for reading your Algo review. You can check out these highly recommended Forex trading resources instead.