I have been a member for 3 months. I have seen about a 23% return. Very pleased with the customer service and the results. Bottom line is that it works.
FR
Fair R.
Algos weren't great
The algos I used were not good. I never recovered my investment and in the last 6 months I had the Algo, I would have made more money leaving my cash in a low-yield savings account.
I was put on an Algo that did nothing but take losses for 3 months. After losing about 10% of my account, I was advised to switch to another Algo. That Algo basically hovered around the same balance for 3 months. I finally cancelled my account and left.
MJ
Mark J.
I have been pleased with my results so…
I have been pleased with my results so far. Jason has been very professional to work with. Results have been as advertised.
JW
James W.
Algo Exchange has been a pleasure to…
Algo Exchange has been a pleasure to work with. Their team is very responsive, professional, accommodating, and their service is top notch.
I have typically followed very common investment strategies and usually just trust my financial advisor, but always felt myself wanting better returns & knowing more was out there… this is when I discovered Algo Exchange’s platform and decided to give it a shot and have a more creative part of my portfolio.
The results so far have been great and as described. I like the fact that I have multiple algo systems that I can use and diversify my capital across all on one platform as well.
The technology is truly passive. After the initial setup I have been totally hands off and just letting the systems do their thing.
The best part about it (besides the returns) is that I am the only one with access to my account/funds which is held on a reputable US regulated broker.
DA
David
My personal experience
I paid to use the Falcon and Echo algos from algo exchange. Jason and Austin were very helpful in guiding me setting up the trading algorithms. After it went live over the course of 2.5 months, my trading account on IBKR lost a total of 15.5k. This does not include the $ I paid Algo Exchange. My experience using their algorithms was horrible. I had to stop the bot 2.5 months in because of the heavy losses. I would not recommend this to anyone.
Thank you for replying to my review but my experience was not a short term emotional decision, I went with you guys out of all the algos out there because I trusted your performance data. I used 60k trading account over the course of almost 3 months and lose 25% of my hard earned $. How is that within the supposed 20% drawdown? I didn't switch from Echo to Falcon on a whim, it was Jason who suggested that if I was unhappy with the performance of Echo after 6 weeks to try Falcon. Both algos failed miserably. If I hadn't stopped the bots who knows how much more $ I would've lose.
So both Echo and Falcon started making $ after I stopped using them over the course of almost 3 months? I must be the unluckiest trader alive...
Response from Algo ExchangeMay 8, 2024
Dear Reviewer,
Thank you for taking the time to share your experience with our Falcon and Echo algorithms. While we are pleased to hear that Jason and Austin were helpful during your setup process, we are truly sorry to learn about the difficulties you faced with your trading results.
From our initial consultations, we emphasize the inherent risks associated with each trading strategy, including potential drawdowns. We aim for transparency by showing every trade a strategy has taken throughout its lifetime, including known drawdowns and losing streaks, which are unavoidable aspects of any trading system. Our algorithms are designed to be fully automated, operating best over extended periods without frequent intervention to mitigate emotional trading decisions that often lead to suboptimal outcomes.
It's crucial to understand that switching strategies frequently or deviating from the advised settings can significantly impact the effectiveness of any trading system. The strategy you chose, like all our systems, was demonstrated with years of real trading data (not just back testing), showing profitability over the long term when allowed to operate as designed. Indeed, while the 10% drawdown you experienced is disappointing, it falls within the risk parameters shown and discussed and is a part of the expected fluctuation for the chosen algorithms.
We appreciate your feedback, as it underscores the importance of our ongoing commitment to support our clients in adhering to the designed parameters of our trading systems. We encourage you to reach out to us, so we can discuss your experience in more detail and explore ways to regain confidence in the strategy or possibly adjust your approach to better meet your expectations.
Thank you again for your honest input. We are here to support our clients and are committed to improving your experience with our services.
Sincerely,
Algo Exchange Customer Success
------------------------
Responding to your reply,
I want to address the concerns raised about the Echo and Falcon algorithms. The Echo system has shown resilience, with only one negative month in over 19 months of active trading. It fully recovered the losses and achieved additional profits in the following month. Unfortunately, you switched from this system before it had the opportunity to recover.
Regarding Falcon, it is designed for a minimum capital of $150k. You initially deployed $60k and then increased your investment after realizing a significant profit of $6k in a single day. This decision underscores the potential of Falcon. However, subsequent losses, which are within the expected range of trading fluctuations, led to dissatisfaction. It’s important to remember that these fluctuations were discussed and acknowledged in our initial consultations, and the fluctuation experienced was well under the threshold discussed.
Both systems have been net profitable this year. Specifically, Falcon has not experienced a losing month in 2024, and Echo has been net profitable despite one losing month. Continued operation of the algorithms would have allowed for the recovery of all losses, plus additional gains.
We take your decision to dispute and charge back several payments seriously, though these were for services you had authorized. We opted not to contest these disputes, choosing instead to focus on resolving your concerns directly.
Thank you for your feedback, which is vital for us as we strive to enhance our services and client experience.
Warm regards,
Algo Exchange Customer Success
------------------------
Responding to your additional reply,
This is correct. Echo and Falcon both recovered all of their losses and are net profitable. Had you continued using the systems, you would have been net profitable. We are happy to connect with you and review the trade logs for each system and stand by this. Falcon has had positive returns for the last 6 months, and Echo only was red in March and fully recovered in April.
ZA
Zubair A.
Algo Exchange Experience
I have been using Algo Exchange since mid-January 2024, and I'm thoroughly impressed with their service. The platform allows users to choose from a variety of trading strategies, and once you select one, all trading activities are handled automatically-truly hands-off! Setting up my account was straightforward, and one of the standout features for me is their partnership with a US-compliant trading partner like Interactive Brokers, which alleviates concerns about compliance with US standards.
The results so far have been very positive, and the customer support has been excellent, always ready to assist and answer any questions. If you're looking for a reliable, automated trading platform that adheres to US regulations, I highly recommend Algo Exchange.
CE
Chris E.
Excellent!
This group has been great! In the time I have been trading with these systems so far, it has been nothing but success! Austin and the team were extremely helpful with setting everything up quickly and efficiently. The open communication with questions and insight made any worry I had go away. They are knowledgeable about all the features, and where to control and monitor everything. Simple setup and just let it roll!
MN
Mario N.
First of all it works
First of all it works! I have not been trading long but I am already seeing a profit. Obviously there will be times I will be down. I studied the different algorithms past performance and feel confident over time I will see significant profits. The things I love about Algoexchange are:
First their customer service they helped a clunky tech dinosaur like me set it up and start trading very quickly.
Second favorite part is I am in control of my account and my money. I don't have to hand it over to anyone. I am simply giving them permission to trade my account safe in a reputable brokerage account.
Third I don't have to do anything now that I am set up, it is on autopilot. I love it! A big thank you to Austin! Keep it rolling. Thank you
