Algosone.ai is an up-and-coming new AI-based trading bot that uses natural language processing models and its own deep learning algorithms to offer a completely hands-off trading solution.
Here’s my review of what I liked, what I think could be improved, and what unique features make them stand out from the crowd.
AlgosOne.ai Strengths
Ok, let’s begin on a positive note, as AlgosOne has a lot going for it. Here below are some of the features that really impressed me.
Ease of Use
One of the things I loved most about the platform was just how easy it was to hit the ground running. There was no programming, strategy selection, or manual risk management. Seriously, my grandma could do it! Once I registered and made the minimum deposit, which incidentally was just $300, AlgosOne took it from there.
This platform is not for you if you want to retain full control over your risk exposure and the composition of your portfolio. EVERYTHING is handled by the AI; it is totally hands-off. However, AlgosOne is great for people who don’t have the time to dedicate to managing their portfolios or the knowledge needed to take the reigns themselves.
It’s also important to note that there is a 14 day trial period, which is a long enough period that you can determine if the platform is right for you, and it’s what I started with (though I later opened an account).
Fees
Here is an area where I really liked what I saw.
AlgosOne doesn’t charge any trading plan maintenance fees or transaction fees. However, commissions are charged on winning trades. (No commissions are charged on losing trades).
50% of commissions go to running the platform, covering operational maintenance, including tech support and risk management, and the other 50% go to the reserve fund.
The reserve fund covers client account balances in the case of a system breach, technical glitch, market catastrophe, or company failure. Part of the reserve fund is also allocated to paying out compensation for losing trades.
The commission fee is comparatively high, at up to 25%, but the amount comes out of trading profits, so it never eats into core capital. Also, the fees are already factored into the calculations used by AlgosOne to set profit percentage guarantees for each trading tier.
One other fee is the 30% penalty on withdrawing funds before the trading plan contract expires, and plans are locked for between 12 and 24 months. However this is standard for trading platforms as well as common practice for any bank or investment firm.
Risk Mitigation
When it comes to AlgosOne’s automated risk management tools, there’s nothing out of the ordinary, as it has a pretty standard array of stops, limits, investment caps per trade, and hedging tools. What I liked though was the simplicity and thoroughness.
The AI-based trader is constantly performing technical analysis, assessing incoming data 24/7, from a massive range of sources, so it can set and continuously adjust the risk mitigation parameters, as market conditions change. It is able to perform risk without any involvement from me and do it far better than I could. It is also learning to improve its risk management capabilities, with every new trade, user and dataset that it receives.
The fact that AlgosOne trades on such a wide range of markets including stocks, commodities, forex, indices, bonds and crypto means that portfolios are diverse and risk is spread across multiple asset classes.
Another way my exposure is limited is with the compensation that is paid out on losing trades. The exact percentage of the original trade amount that is returned, depends on your trading tier, although you need to be at quite a high tier to enjoy this benefit.
In-person support
Unfortunately, when it comes to AI trading, particularly those that offer crypto, it can be hard to reach a human being when you need one, but I was pleasantly surprised by the fact that AlgosOne has multilanguage support, via live (human) chat and email, and the lady I spoke to knew the platform well and was able to help answer all my questions. PYou will probably actually find answers to most of your questions in the pretty extensive FAQ section.
AlgosOne.ai Standout Features
A couple of features really stood out, and in my opinion, place AlgosOne right at the front of the pack.
Profits
The main criteria I’m using to judge any trading platform I use, is how profitable it is and how steady those profits are.
At AlgosOne, the platform guarantees a specific profit percentage range for each trading tier, and so far, in my experience, it has kept its promises. The trade success rate is above 80%, which is really incredible and better than the win:loss ratio of any other bot in the business that I’ve seen. At all times, the current trade success rate is viewable on the dashboard. Not only are the profits amazing, but AlgosOne also pays out compound interest on every trading plan, no matter what the trading tier.
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