FAQ

Frequently Asked Questions

What do I need to do to open an account?

All that you need to do in order to open an account is to download the agreement for opening an account, together with the Algo-Trading annex (the service that Algocode provides to the client), to complete your personal details and send them back by fax or e-mail, with a photocopy of your identity card and a photocopy of an identifying invoice (water/electricity/telephone bill, etc.):

Fax No.: +972-72-244-2405

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

How is the money deposited to my account?

The deposit of money to your account is performed by bank transfer to the bank account of the brokerage company that manages the trading (details of the account for transfer are attached to the agreement for opening the account).

How can I follow the transactions performed in my account?

Algocode's client receives a link to download the software and a user name and password to view his account, so that at any moment he is able to see the activities performed in his account by the company's robots.

Where is my money deposited?

Algocode's clients' money is deposited in one of the brokerage companies bound to an agreement with the company.

What is a brokerage company?

A brokerage company is a company that offers capital market trading services. Mostly, the trading money is deposited with the broker who runs the account. The broker is responsible for supplying price quotes and trade platforms, on which Algocodes' robots are operated.

What currency can I deposit?

The brokerage company respects transfers in Dollars, British Pound (Sterling), and Euro. Nevertheless, the sum will be in Dollars before crediting the account. The brokerage company does not charge exchange fees, but the rate of exchange will be the rate on the day of transfer.

How may money be withdrawn?

Money withdrawal can be carried out by completing the withdrawal form, which may be downloaded from the Website. After completion of the form, it must be sent back to the number appearing on it, to the brokerage company. The account will be credited within no later than 7 business days.

Is a minimum time required for the usage of the services of your robots?

Algocode invests its time in the preparation of infrastructure and linkage of each investor to the robots. Therefore, it requests a minimum investment time of two months. However, the investor may take out all his money after the closing of open transactions, even earlier than two months, in exchange for sum of USD100 – the fee for establishment in the system. After two months, the client will be exempt from payment of this sum, i.e. after two months, the customer's money is completely liquid and may be withdrawn at any time subject to the closing of open transactions.

Is there any tax payment on the profits?

Since the brokerage companies with which we work are international companies, the obligation to report on profits lies with the investor himself and not with the foreign brokerage companies from which the investor takes out the money in the end, including the accumulated profit. With regard to tax payments, it is every one's duty to consult with a licensed tax expert. It is not our job, nor our intention, to provide consultation on this subject to our investors.