CryptoAltum Review 2020
CryptoAltum provides traders around the globe with online crypto trading services. The broker offers a vast selection of over 60 cryptocurrencies for clients to trade via the popular MetaTrader 5 (MT5) platforms which are available on multiple devices. Trading accounts can be funded 24/7 using crypto wallets and there is the option of flexible leverage up to 1:500.
CryptoAltum Review 2020, Pros & Cons
- Good range of 60+ cryptocurrencies
- 24/7 crypto trading
- Flexible leverage
- Quick & easy crypto deposits/withdrawals
- No account transaction fees for deposits/withdrawals
- Intuitive, powerful & user friendly MT5 platform
- Straight Through Processing (STP) brokerage
- $1 minimum deposit to start trading
- Trading calculators
- No MetaTrader 4 platform
- Crytocurrency accounting only
- No Islamic accounts
In this detailed CryptoAltum Review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
CryptoAltum Review: Summary
Founded in 2020, CryptoAltum is a CFD broker dedicated to 24/7 cryptocurrency trading with over 60+ crypto pairs and new cryptos being added on a frequent basis. The broker implements a straight through processing (STP) brokerage model where all trades are filled automatically without any dealing desk intervention. They receive liquidity from several of the top global exchanges. By utilising several liquidity providers (LPs), the broker ensures that they can always deliver the best available prices to clients. All trades are executed with market execution.
CryptoAltum have competitive online crypto trading conditions on the MetaTrader 5 (MT5) platform including spreads from $3 on Bitcoin (BTC), leverage up to 1:500 with volume restrictions in place and deposits/withdrawals in 6 cryptocurrencies. All trading styles are accepted including scalping strategies, hedging and expert advisors. There is no KYC required although the broker do ask when clients are suspected of bonus abuse.
CryptoAltum Review: Regulation
CryptoAltum are registered in the Marshall Islands, but not regulated by any government agency. However, the security of client funds is of primary importance to the broker who state that they use cold storage of these fund which basically means that funds are held on external storage devices in order to try and prevent them from being accessed by third parties.
They also implement strict internal procedures requiring multiple signatories and time delayed access to the cold storage in order to reinforce the security of all funds held.
CryptoAltum Review: Countries
CryptoAltum accept clients from all over the world. Some CryptoAltum broker features and products mentioned within this CryptoAltum Review may not be available to traders from specific countries due to legal restrictions.
CryptoAltum Review: Trading Platforms
CryptoAltum provides clients with the sophisticated and powerful MetaTrader 5 (MT5) trading platform that is developed by Russian software company MetaQuotes. The brokers MT5 platform is specifically programmed for trading cryptocurrencies.
MT5 is available as a desktop platform, mobile trading app and can also run directly in most modern web browsers without needing to download or install any additional software.
MT5 is one of the most popular online trading platforms, used by millions of new and experienced trades from all over the globe. The platform is well known for its user-friendly interface and abundance of built-in trading tools.
Some of the prominent MT5 platform features include:
- Rapid order execution speeds
- Depth of market (DOM) level II pricing
- Advanced order types
- Multiple chart types and time frames
- Vast range of useful trading tools and indicators
- Built-in economic calendar
- Automated trading supported through the use of expert advisors (EAs)
- Strategy tester to back test EAs over historical data
- MQL5 programming interface to create customised trading tools
- Alert notifications via platform pop-ups, SMS and email
CryptoAltum Review: Trading Tools
CryptoAltum have a selection of additional trading tools on their website to assist traders with their daily trading activities. There are real time leverage and margin calculators along with a trading glossary that includes some of the more popular trading terminologies along with an explanation of each.
CryptoAltum Review: Education
CryptoAltum have a trading blog, which includes an ‘Information Hub’ all about cryptocurrency and CFD trading in general. They also provide clients with free daily market analysis via their blog and Telegram Channel. Furthermore, there is also a YouTube channel with some short explainer videos to help traders improve their knowledge so that they can become more informed traders.
CryptoAltum Review: Trading Instruments
With CryptoAltum, traders get access to 24/7 online trading of over 60+ cryptocurrency pairs. Whilst primarily being a broker focused on cryptos, they also offer a selection of forex currency pairs, commodities, gold and stock indices.
The brokers cryptocurrency offering includes some of the most popular cryptos such as:
- Bitcoin Cash
CryptoAltum Review: Trading Accounts & Fees
CryptoAltum have one dynamic account type that allows you to trade all instruments on the MetaTrader 5 platform with no commission fees and competitive spreads. There are however swap fees charged which is an interest payment that applies if you hold a sell or a buy position for a certain period of time.
Unfortunately, the broker does not offer Islamic swap-free accounts at this time but they do offer a free demo account should you wish to practice your trading strategies with virtual funds. Demo accounts will only expire if you do not use them for more than 30 days.
Clients can have up to two Bitcoin (BTC) and two Ripple (XRP) accounts, and then one account in each of the other available Crypto base currencies. There are no account inactivity fees.
CryptoAltum Review: Customer Service
CryptoAltum customer support can be reached via email and live chat. They are also available 24 hours a day, 7 days a week via whatsapp, messenger, telegram and Line. The client support team are happy to answer any technical, general or account related questions. Our broker review team found them to be efficient and polite in their responses.
CryptoAltum Review: Deposit & Withdrawal
CryptoAltum accept deposits and withdrawals in cryptocurrencies including BTC, BCH, ETH, XRP, LTC and USDT. You can securely fund your account using your crypto wallet and make fast withdrawals or deposits 24/7.
Withdrawal requests from your CryptoAltum wallet will usually be processed within the hour. Depending on your current account status and market conditions, withdrawals may take up to 48 hours.
The broker does not charge any deposit or withdrawal fees whilst the minimum deposit requirement is just $1. Please take into consideration that there may be miner fees which are applicable to any crypto transaction. These fees appear on the blockchain and are not fees from CryptoAltum.
As broker fees can vary and change, there may be additional fees that are not listed in this CryptoAltum Review. It is imperative to ensure that you check and understand all of the latest information before you open a CryptoAltum broker account for online trading.
CryptoAltum Review: Account Opening
You can start trading with CryptoAltum in just few minutes by following 6 simple steps. Your account is verified instantly and there is no need to upload your documents as you will be using cryptocurrencies which are known for their anonymity. You are only required to provide the broker with your name, email and country of residence.
- Sign up using the provided form on the CryptoAltum website
- Confirm your email address to verify account
- Make a deposit using a choice of popular cryptocurrencies
- Open an MT5 trading account
- Download the MT5 platform for desktop, iOS/Android mobile apps or access the web trader platform directly from within your web browser
- Log in to the MT5 platform and start trading cryptos online
It is imperative to ensure that you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.
CryptoAltum Review: Conclusion
Overall, CryptoAltum provide an online trading service that is primarily catered towards clients whose preference for trading instruments and account funding is cryptocurrency. They support a large selection of cryptos for trading via the powerful MetaTrader 5 platforms that are compatible with multiple devices and abundant with a plethora of trading tools.
Furthermore, whilst the client support team are on hand to assist traders, the broker could consider adding regulation and educational materials to improve their overall services.
Trading Contracts for Difference (CFDs) in Cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation.