Tuesday 6 April 2021


Is AlgoBlox (algoblox.com a Scam)?

Company called ‘Algoblox.com’.

Please look at their Facebook first- https://www.facebook.com/Algobox-Stock-Trading-2188049501314941/

 

Views

Algoblox is a scam - YouTube

Please look at the You Tube first

https://www.youtube.com/watch?v=wVKoWXRadC0

 

IFG

https://www.internationalfraudgroup.com/

Report International Scams at econsumer.gov | FTC Consumer Information

FTC

Report International Scams at econsumer.gov | FTC

 

Report a scam to us | FCA

 https://www.fca.org.uk/consumers/report-scam-us

 

Online Fraud Reporting - Find Online Fraud Reporting - info.co.uk

 https://www.internationalfraudgroup.com/

 

REPORT PHD/19/07/2021/FD/14

I want to warn everyone about a scam company called ‘Algoblox.com’. I want everybody to see the name of this company and have it imprinted into their mind’s eye. Algoblox.com have, in effect, embezzled me for £-------- through lies and bullying. I have reported this company to ‘Action Fraud’ and the bank, who are launching a scam and fraud criminal investigation.

 

Meanwhile, I want to pass on some information so that people who read this have the chance to protect yourselves. In January 2021, I saw an article on the online newspapers about a granny and a celebrity chef who had invested in a cryptocurrency firm made a high return. I googled the firm and initially it seemed to be legitimate – although, I later discovered that Algoblox used or dealt with different names during my dealings with them, which proved to be very confusing and should act as an early warning sign.

 

1st RED FLAG and warning – you must do more extensive research than I did and read extensive reviews from legitimate authors and people’s experiences on legitimate review sites to get an accurate picture of how a company is functioning. I later learnt from the ‘Action Fraud’ advisor, who was very helpful, that before anyone considers a financial decision, the company they intend to use can be checked out on the government’s ‘Action Fraud ‘ scam and fraud information service to check that they are registered with the FCA, which indicates whether you are dealing with a legitimate company. I discovered that Algoblox is an unregulated trading company and read many reviews thereafter, that they must NOT be dealt with. Unfortunately, I learnt this all the wrong way round. So, consider this warning and RED FLAG no 2.

 

Warning and RED FLAGS no 3 and 4; re the ‘advisor’ – in fact, a bit shouty and a bully, was in a hurry and warned me NOT to tell the bank who I was sending the money to (a bank in Lithuania). Yes. I know. Yes, I was suspicious, but who knows why we lose all common sense and get drawn into theses scams after all that we hear and read about?

 

Warning and RED FLAG no 5. The advisor could only be contacted via an email and I was obligated to wait for his/her response, no matter what burning questions I needed to be answered – opposite to what I was initially, fervently promised – ‘Don’t worry’, ‘I/We have your back’, ‘I/We will be with you all the way’, ‘Your money is safe….’ You cannot lose money with the algorithm’, ‘I am/We are here for you’…etc., etc, etc, blah! blah blah!

 

Over the weeks that this went on, return email answers/calls were becoming fewer and fewer. Warnings and RED FLAGS no 6 & 7 - I tried ringing the numbers that they had rung me on, including the ‘office number’ on the ‘Support. Algoblox email, but they were non-functioning from this end – the numbers ‘were unavailable’.

 

It is not beyond reasonable doubt that they either pay people to write ‘good’ reviews (as I saw on Trustpilot), write reviews themselves or, perhaps, allow some people to make some money, with the idea that the happy customer will ultimately write a good review, to help Algoblox keep their boat afloat and their cash cows (us, the unsuspecting ‘investors’) flowing. I tried and tried to retrieve my money – the ‘support advisor’ had told me that Algoblox was managed by an AI system and the algorithm ensured that you could NEVER lose money. Warning, warning, warning! and the biggest RED FLAG! This was quite simply, a lie.  When I was finally put onto a ‘senior financial advisor’ I was told that I had lost most of the money I had sent – it seems that the Algoblox’s AI algorithm had not worked after all. I could go on and on. It is too late for me – but this message may help other people avoid dealing with them and others like them, and the nasty, unethical and thieving Algoblox.com company will hopefully be tracked down by the fraud and scam teams now that they are investigating them.

 

Additional information

https://algoblox.com/

 

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Read our AlgoBlox review carefully to see why we do NOT recommend this broker for trading. Just to clear doubts, this is an algoblox.com review.

Who are they?

After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.

So AlgoBlox is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard-earned money and there will be no regulating agency to hold them responsible.

 

 

How does it work?

Usually, unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.

Withdrawing funds

You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.

If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.

How to get your money back?

If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.

The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at personalreviews1@gmail.com but do not let your broker know they you read this article or that you are in contact with us.

What about wires?

If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at personalreviews1@gmail.com and we will help you with this step as well.

Make sure you leave reviews about AlgoBlox in other sites

Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.

AlgoBlox Review Conclusions

Making the AlgoBlox review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard-earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our AlgoBlox review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at personalreviews1@gmail.com.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.

 

https://www.personal-reviews.com/2021/01/algoblox-review-algoblox-com-scam/

 

https://www.youtube.com/watch?v=wVKoWXRadC0

 

AlgoBlox Review (algoblox.com Scam) - Personal Reviews

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