Algosone.ai is a new AI trading platform set to be launched next month. We got a preview of the platform and have scored the features out of 10 to give you an honest assessment of what works and what doesn’t. 

The Company 

Algosone.ai is an AI-powered trading system that uses generative AI modeling similar to Llama 2 and GPT4 and its own deep neural networks to assess risk and predict what the market will do. Trained on huge datasets, the AI anticipates market trends by analyzing massive amounts of market information, in all languages, from multiple traditional and alternative data sources. Algosone.ai’s machine learning capabilities enable it to learn from every trade, getting better and better at anticipating price trends and patterns.

Setup and Deposit: Score 8.7/10

The Facts

You sign up, via the app or the website, make a deposit and then your funds are locked in a trading plan for 12-24 months. Plans all unlock in December of the following calendar year from when your contract starts. So, the exact length of the contract depends on when in the calendar year you open the trading plan.

Regulatory compliance with its financial services license means you are required to complete the KYC process, providing proof of identity documents before you can start earning a profit.

Pros

  • Simple, fast sign up
  • A 14-day trial period lets you give it a go with no commitment.
  • A low minimum deposit of just $300

 Cons 

  • Limited FIAT deposit options- just USD and EUR for FIAT and USDT, USDC, XRP, SHIB,  DOGE, BNB, ETH, BTC for cryptocurrencies
  • No Paypal or credit/debit card payment options at this stage – just crypto deposits and wire transfer
  • Funds are locked for at least a year. While they can be easily withdrawn before the contract expiration there may be a penalty

Trading: Score 8/10 

The Facts

Algosone will trade for you across a  wide range of financial markets. Some trades will be automatically approved without requiring anything from you. Others are 1-click trades, where you are sent a trade notification. For these, algosone.ai decides the amount, asset, and direction of the trade but you need to click the APPROVE button in the notification sent to your phone, within a given time limit, otherwise it won’t be executed. 

The size of your deposit will determine your trading tier. A higher trading tier means more, and larger positions opened, a higher ratio of auto-approved to 1-click trades, a lower commission fee on trades that result in a profit and  higher compensation on trades that result in a loss.

Pros

  • A diverse portfolio with trades spread across multiple markets.
  • No experience or analysis required- the AI does it all.
  • The system learns and improves from each trade it executes.
  • A current trade success rate of over 80% during the pre-launch period 
  • No transaction fees. 
  • No commissions charged on losing trades and a percentage of the amount traded is returned in compensation. 

 Cons 

  • Trade notifications require constant alertness and engagement throughout the day.
  • High commissions of up to 25% on trades that result in a profit.
  • The platform controls asset and trade allocation so you cannot exclude crypto or increase the proportion of stocks or bonds in your portfolio.

Safety and Risk Management: Score 8.5/10

The Facts

Algosone.ai is licensed and compliant with European regulations and implements all standard risk management protocols, from caps on the percentage of your trade balance used per trade, plus limits, stops, and automated hedging tools. The system learns and improves from each trade it executes, becoming better at predicting market movements and at anticipating and averting risks.

Pros

  • Licensed to provide financial services across Europe
  • A reserve fund providing coverage of client funds in the case of hacks, fraud, technical failure and unexpected market events

Cons 

  • You cannot either increase your exposure in the hope of a higher return or reduce your risk based on your own market analysis.

Dashboard: Score 8/10

The Facts

The dashboard provides data on the current balance of the reserve fund; the trading AI’s trade success rate; a history of your deposits, withdrawals, and trades made on your behalf; your current trading balance(s), and any open 1-click trade notifications requiring approval.

Pros

  • The dashboard is exceptionally easy to navigate 

Cons

  • At the launch stage the platform is only available in English

Support: Score 9/10

The Facts

The algosone.ai platform offers support through a message form on the site, as well as via email, whatsapp, and the major social channels.

Pros

  • The support staff are friendly and knowledgeable about the platform. 
  • Responses via whatsapp were instant.

Cons

  • At the launch stage support is only available in English
  • There is no direct phone support.

Summary: Total Score 8.5/10

Algosone.ai highlights include a platform that’s technologically advanced and getting smarter, a secure, licensed, and legit platform, impressive safety measures to reduce potential losses, no fees for trades that don’t work out, and partial coverage for losing trades, as well as a dashboard that’s super easy to use, even if you’re new to trading. However, it still has some significant downsides, such as the lack of currency and payment options, as well as the disappointingly limited platform and support  languages, the exceptionally high commissions that can eat up to a quarter of your profit, and the frustrating requirement to approve trade signals within a set time limit throughout the day. 

Overall, we give AlgosOne a thumbs up with a respectable 8,5 out of 10 mostly because of the amazingly advanced AI capabilities. We think it has a way to go but will check back in a few months after launch to see if it has expanded and improved  its offering.

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