EFX Algo

"Has anyone considered a class action against EFXAlgo?"

"I lost over 15k. Asked for the garanteed refund and have been ghosted. First month they did make 3.5% but then quickly started losing. They also went over the 1.5 draw down and have absolutly no off-boarding. Update 9/9: EFX has refunded my original fee which is something Devvy has not. Raised their stars for actually following through with the contract."

"Last review was removed. See if this one sticks. They offered education to start. They transitioned to algo trading bots naturally because what better way to scale than getting monthly licensing fees. The company fell apart when performance promises never materialized and steep drawdowns is where the bots lived in perpetuity. They should refund everyone’s money for losing bots that are obviously malfunctioning and do what’s right."

"Please stay far away from this organization. They have cleaned out many accounts with their lies."

"Lost over half my investment in 2 years, even though EFX Algo promised to turn off the bot once it reached 40-45% floating loss. Had personalized onboarding and individual support the first 6 months. It devolved after that, to the point where EFX Algo no longer does any live calls (everything is over email). They charge a $200 fee per month, and when I stopped the bot manually and asked them to confirm me stopping my account going forward, I got no response."

"Horrifying losses. The algorithm can't handle anything but perfect conditions. We lost half our investment in two years. Pure garbage and whoever built it should be jailed."

"EFX is a complete scam! Whatever you do, DO NOT waste your money with these con artist. There are over 1300 people out there like me that got scammed by these guys. Their program tanked over a year ago and never recouped, just kept losing. I am in touch with a lot of the other former users and they all had the same experience. Once the EFX people saw it was tanking, they literally dropped all communication with us the customers and would not help or answer for anything. Just kept us losing money and charging us the monthly fees. They even shut down the Circle feed so that we could not communicate anymore. Now they out trying to sell their garbage again down from $18,000 to $997. Wonder why? Plus, look at those reviews they posting now, not a one after mid 2025. Thats because they screwed everyone after this! Trust me, DO NOT make the mistake of dealing with these people. They belong in prison not out here trying to screw more people!!!"

"This company and their trading bot are an absolute disaster when the market gets tough. Everything seemed fine initially, but the moment the market faced real adversity after April 2025, the bot completely fell apart and lost a massive amount of money for a huge number of people. It clearly cannot handle real-world market pressure. To make matters worse, the company responded to these losses by completely shutting down transparency. They cut off community communication on Circle so members couldn't talk to each other, completely isolating us. When leadership finally decided to communicate, they hid behind an impenetrable wall of confusing trading jargon that nobody could understand, rather than giving us clear, honest answers. While our accounts were in an extreme drawdown and everyone was bleeding funds, they didn't have the decency to pause fees. They just kept charging us regular membership costs while the bot tanked our life savings. Neither this company nor their software has the resilience or integrity to handle adversity. Save your money and look elsewhere."

"I am very disheartened with this company. I've been a member since 2023 and originally was doing very well with returns on my initial investment from November of 2023. However, after Liberation Day as reported by Trump in April 2025, the algorithm slowly and methodically continued to deteriorate and place my account in significant draw down. At the time of this writing, my account is currently at 55% drawdown essentially meaning that if I were to withdraw and close my account at this point, I would essentially lose all of my gains and some of my investment funds. I originally invested $150k into this bot in November of 2023, and currently if I withdraw I will have lost all my gains and only be able to pull out $96,000 of my original $150,000. In addition, reaching out to customer service is pointless and futile. Multiple attempts to contact support and obtain a resolution or updates on how the bot is working have gone unanswered. Multiple support tickets to Technical support I have not received any responses in multiple weeks. This is unprofessional and precedented given that we subscribe a monthly fee ranging from $100 to $500 to manage our accounts. We are paying for a service and not receiving any kind of feedback, updates, reassurance, Methodology on how the algorithm might be learning, all we see is continued drawdown loss of funds, and silence. There's no phone number to contact to inquire about how the company is trying to rectify or improve performance of the algorithm given that so many of us members continue to see worse drawdowns No webinars or updates to make sense of how this algorithm could have gone bad for so many members. I once believed greatly in this company, and now I have anger, resentment, end I wish that I'd never joined, paid for the algorithm, or become aware of this company."

"Customer service is taking forever to answer. We need to follow up 2-3 times before getting an answer. Unfortunately, the algo is not delivering to their promise's configuration. Results and performance is one thing, but the parameters of drawdown, limits and cutoff are not fullfilled."

"Very poor returns and multiple months of negative returns despite stock market otherwise doing very well. I had been told this would be a reliable and consistent way to exceed standard market returns but this proved very much false. Company was not transparent and shut down portal area where clients could express concerns."

"Trying to get in touch with someone there is impossible. They only have support via email. While trying to find a phone number for them, I have come across links to their website that are no longer valid."

"Has caused extensive losses. After a great first year, subsequently, most of the trades were losses. Finally after two years, I withdrew my remaining cash and requested stopping of subscription."

"I have waited almost 2 years to write this review, and now I am finally posting my honest thoughts on this “investment.” I wanted to give the algorithm and the company a chance to live up to their promises, but after a huge lack of transparency or any communication from their end (they’ll post an update maybe every other month or so), and multiple unanswered attempts to get in touch with literally anybody involved with the company though their “support” page and email, I think I have no choice but to give up on them. Side note: I’ve noticed they respond to many negative reviews that the poster “isn’t a customer”… if they respond to this review claiming that, it is an absolute lie. I am 100% a real customer (ie victim) and I have the proof if needed. When I was first looking into EFX algo, the main selling points were their “money back guarantee,” the Circle community where all clients could speak to each other online, their focus on “capital preservation,” and the fact that they had “never had a losing month” I paid $15,800 as a startup fee, with the guarantee that I’d make it back in 1 year, or I would get a refund of the difference (as long as I held at least 30k in the account for the full year)… I put in $40k at the start, and never withdrew… I even have texts from the sales rep that told me if I was eligible for a refund at the one year mark, I would have the option to keep using the bot. The 1 year mark comes, and the account had only made around ~7k profit (with also close to $20k in drawdown, so really the overall account was not up at all)… When I requested the partial refund to at least recoup some of my startup costs, this is when the bait and switch happened - they told me if I claimed the refund, I’d be forced to forfeit my use of the bot and manually deal with the open positions… In other words, their “money back guarantee” is them keeping whatever profits your account DID make over the year, while you incur 100% of the drawdown as a loss. It has been 8 months since then, and I wish I had just taken the refund anyway at that time and stopped using the bot, because now the account has lost another $3k since then, with $2k MORE in drawdown… And now I can’t get a hold of ANYONE at the company whatsoever to even request the initial refund I was entitled to… Although they still charge me every month their “maintenance fee,” even though it doesn’t seem that they are maintaining anything on their end. They shut down the Circle community in April 2025 when the tariffs threw off their algorithm, so their clients can’t even talk to each other (likely to avoid a class-action being organized). They claimed they “never had a losing month” before I started, and then somehow in the last 20 months since I signed up, 15 of those 20 months have been losing months… They also touted that their drawdowns wouldn’t exceed 10-20%, but my account is currently at 48% drawdown. This was one huge deceptive bait and switch, and now if I stop the bot and close the account, I will have lost $35k or 62% of my total investment (including startup and maintenance fees), … And it appears I will be forced to do so, because I don’t think the company is active anymore and it’s impossible to get through to anybody whatsoever, and it has done nothing but steadily lose money for almost a year now. Not to mention the founders of the company seem to be pushing an entirely different company now (presumably another scam) called “EFX Signals.” If they respond to this review at all, then it is either an AI response, or it means somebody on their end is reading and responding to these reviews, but not responding to any of their actual paying clients. This was by far the worst investment of my life, and I wish I had never heard of EFX Algo"

"They disappear when things go wrong. When signing up, they promise to have support, but there is none. The account managers they assign have been instructed to ignore your emails. I've lost 50% (over 50K) with them across 2 accounts. Stay away"

"EFX Octane or Aldo, whatever you want to call it, they are out of business. Do not put any amount of money in this business. It is failed product or service. I lost 50% of my investments and could not get out due % of drawdowns. Don’t get fooled by thei sales tactics or fake positive reviews."

"These really are a bunch of Cowboys they are useless and you really should not part with any money with them.I fortunately stopped their system after going into 28% Drawdown !!! That is pure Gambling!!! My Grand Kids at 2 could do a better job then these Idiots .Please don't trust them DO NOT PART WITH YOUR MONEY"

"I bought into this Algorithm about 2 yeas ago and for the first few months it was doing about 2% in profit. Then when the tariff war started the algorithm stated to collapse. Down over 40+% at the current time. It makes a few dollars and gives up hundreds. Been upside down for over a year and all I get are excuses about how it is doing its job of rebalancing risk! In the meantime I keep getting charged $97 a mount for the great pleasure of being able to rent the software which costs above $10000 which you can never get back. By all means my advice is actually learn how to trade Futures or options and contol your own money. This software is a joke, so save your money and frustration."

"No customer support. This is a way for them to make money while you lose."

"Licensed two trading systems/algos. Closed one after 6 months, the other traded for 18 months. The 6 month one lost 10% of the capital. The 18 month lost 40% of the capital. There system holds on to losing trades and hopes they come back. Not a great experience."