AlgotekXM presents itself as a funded-trader “prop firm” that pays up to ninety percent of profits. Australia’s regulator ASIC put it on its investor alert list on 10 August 2026, and the domain behind it was registered only on 13 April 2026 — about five and a half months ago. We would not send this company a cent.
AlgotekXM
algotekxm.com · “prop firm” funding pitch
SCAM BROKER
- Website
- algotekxm.com
- Domain registered
- 13 April 2026 (Hostinger)
- Domain age
- About 5.5 months
- Regulator warning
- ASIC investor alert, 10 August 2026
- Licence
- None found
- Product
- “Get funded” prop trading challenges
What AlgotekXM claims
The site sells the prop-firm dream: pay for a challenge, trade the firm’s capital, keep “up to ninety percent of net profits”. It says it is “trusted worldwide by 24,000+ traders”, boasts an average payout time of about 52 minutes, and shows a rolling ticker of named traders and their “last week’s withdrawal”.
None of this can be checked. There is no company number, no licence, no named directors and no audited payout report — only numbers on a page the operator controls.
The numbers contradict each other
The home page claims “$3M lifetime payouts” and, in another block, “$2.5M+ paid out YTD”. For a domain that did not exist before April 2026, “year to date” and “lifetime” are practically the same five months — and 24,000 traders in that time would be one of the fastest launches the industry has seen. Real prop firms publish verifiable payout certificates. AlgotekXM publishes a ticker.
⚠ Verified evidence
- ASIC added algotekxm.com to its investor alert list on 10 August 2026 (listed on IOSCO I-SCAN).
- RDAP shows algotekxm.com was registered on 13 April 2026 through Hostinger.
- The site claims both “$3M lifetime payouts” and “$2.5M+ paid out YTD” — for a five-month-old domain.
- No licence number, company registration or named management appears anywhere on the site.
Did AlgotekXM cost you money or time?
Tell us what happened on our short complaint form — it goes straight to our support team, nothing to download, and we reply personally.
✎ File a complaint about AlgotekXM
Include the website, the dates, the amounts and how you paid. Screenshots help.
How the prop-firm trap usually works
Fake prop firms earn from the challenge fee, not from trading. The fee is paid, the “evaluation” runs on a platform the operator controls, and rules are applied so that almost nobody passes. Those who do pass then hit withdrawal “verification”, extra fees or silence. The flashy payout ticker exists to keep new buyers coming.
What to do if you paid AlgotekXM
- Stop paying: no further fees, “upgrade” charges or taxes to release money.
- If you paid by card, ask your bank for a chargeback now — time limits apply.
- Save every email, chat, receipt and wallet address.
- Report it to ASIC (or your own regulator) and to your local police cybercrime unit.
- Ignore anyone who contacts you offering to “recover” your money for an upfront fee.
The verdict: AlgotekXM is a five-month-old site making payout claims it cannot back up, and it is on ASIC’s investor alert list. Do not buy a challenge or deposit money.
Sources, checked 29 September 2026: ASIC investor alert via IOSCO I-SCAN (10 August 2026) · RDAP registration record for algotekxm.com · the live page at algotekxm.com, read in full
