Sharing my experience in case it helps someone else
AlgoX presents itself as a day trading company connected to a prop firm. After completing the challenge phase and waiting the required 35 trading days, I submitted a payout request.
I was repeatedly told the payout was being processed. A few days later, I received a message saying they were temporarily unable to send funds through my selected payment method and asked me to choose another option such as bank transfer, crypto, or PayPal. I selected alternative methods, but no payment was ever sent. The same explanation kept being repeated, and communication eventually stopped.
After looking into this further, I contacted Soulagement LLC and provided screenshots and records of my interactions. Based on what they reviewed, I was informed that AlgoX appears to be connected to or operating under multiple other names, including FundedEdgeTraders, Check Prop Firm, FundLiteTrader, and Algo Plus.
The recouping process is still ongoing, but I’ve already been able to recover part of my initial deposit.
Posting this so others can do their own research and be cautious, especially when dealing with platforms that delay payouts while citing repeated payment issues.
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Reporter_R26BTV
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- Vermilion, OH, USA• Sep 04, 2025
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Scammer's website telegram CountryUnited States Total money lost$539 Type of a scamOnline Purchase
algo X is a fake trading platform that is run by people who want you to buy their prop firm account and they will run your account for you. The prop account you buy is through fundedelitetraders.com and it gives you access to a dashboard. Everything you see is completely generated by them. Fake trades that you can see. They are running ads on social every major social media platform. I believe that they have scammed 100 to thousands of dollars from people. It is a very sophisticated scam.
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Sharing my experience in case it helps someone else
I was repeatedly told the payout was being processed. A few days later, I received a message saying they were temporarily unable to send funds through my selected payment method and asked me to choose another option such as bank transfer, crypto, or PayPal. I selected alternative methods, but no payment was ever sent. The same explanation kept being repeated, and communication eventually stopped.
After looking into this further, I contacted Soulagement LLC and provided screenshots and records of my interactions. Based on what they reviewed, I was informed that AlgoX appears to be connected to or operating under multiple other names, including FundedEdgeTraders, Check Prop Firm, FundLiteTrader, and Algo Plus.
The recouping process is still ongoing, but I’ve already been able to recover part of my initial deposit.
Posting this so others can do their own research and be cautious, especially when dealing with platforms that delay payouts while citing repeated payment issues.
Country United States
Total money lost $539
Type of a scam Online Purchase