InsideBitcoins.com

CryptoAltum Review 2020: Platform, Features, Pros and Cons

CryptoAltum is an exciting new CFD broker that offers very low fees and super-high leverage, but is it the right broker for you? This review covers everything you need to know.
Avatar
Author: Jimmy Aki
Last Updated: 04 June 2020

CryptoAltum is is an online CFD broker that allows users to trade in cryptocurrencies, forex, gold and other securities. The platform is gaining ground in the online investment space, thanks in no small part to its commission-free trading and high leverage. In this guide, we provide a 360-degree review on the platform, its features, markets and products, fees and how it compares with other popular platforms.

Want to find out if CryptoAltum is the right trading platform for you? Let’s get to it.

On this Page:

    CryptoAltum: 0% Commission Trading With Up To 1:500 Leverage

    Our Rating

    • Wide range of crypto pairs
    • Up to 1:500 leverage
    • 0% commission and no deposit or withdrawal fees
    • Supports MT5
    There is no guarantee you will make money with this provider.

    What is CryptoAltum?

    CryptoAltum is a new CFD trading platform that provides its customers with access to several financial instruments. It has a range of benefits to offer users, including high leverage, very low prices and MetaTrader5 compatibility.

    The service is owned and operated by Techcraft Ltd., a technology company that is based in the Republic of the Marshall Islands. As you can tell by the name, CryptoAltum is particularly crypto-focused, and deposits and withdrawals on the platform are made in cryptocurrencies.

    All trades on CryptoAltum are conducted through the MetaTrader5 trading platform. This application allows traders to perform a variety of technical analysis and trading operations, and enables automated trading systems for a range of financial markets.

    CryptoAltum Pros and Cons

    Let’s take a look at the pros and cons of trading with CryptoAltum.

    Pros:

    • Very low fees
    • Wide range of crypto pairs
    • Supports MT5
    • Up to 1:500 leverage

    Cons:

    • Doesn’t accept fiat currency deposits
    • Not licensed in Europe

    Tradable Assets and Markets

    Cryptocurrencies

    CryptoAltum is primarily focused on on the cryptocurrency trading market. The platform supports trading of over 60 trading pairs and 24-hour access to one of the most fledgeling asset markets in the world.

    You can trade cryptocurrencies with up to 1500:1 leverage on the platform. The fact that CryptoAltum is based outside of Europe means that it can offer considerably higher leverage than brokers that are based in the EU.

    You can liquidate your positions whenever you feel like, thanks in no small part to the quick transactions available on the platform. However, traders whose positions are open for longer (usually between 3 to 5 days) will see higher financing rates.

    Forex

    CryptoAltum’s forex trading section is also impressive. The service offers six base currencies – the US Dollar, Euro, Yen, Pound, Australian Dollar, and Canadian Dollar – and nine pairs, with trading pairs providing as much as 500:1 leverage.

    The maximum lot size and volume limit are very acceptable, although most of the service’s Forex markets are only open from 01:05 on Monday to 00:55 on Friday. Like with cryptocurrencies, traders with positions open for days will see higher financing rates.

    Gold

    If you’re looking to trade this safe-haven asset, you can do so with up to 1:100 leverage on CryptoAltum. The gold trading sessions are more extensive than for forex, with trading starting at 01:05 on Monday and ending at 23:55 on Friday.

    Indices

    CryptoAltum offers trading in three indices – the GTi12, NIKKEI225, and DOW30 indices. You can get up to 1:1:00. leverage on each of these, although trading times aren’t the same.

    The service also provides five tiers of equity indices, although leverage on these varies. On the GTi12index, trading is available 24/7. On the Nikkei225 index, trading sessions start by 02:00 on Monday and end at 22:15 on Friday. For the DOW30 index, trading sessions start at 01:05 on Monday and end at 23:20 on Friday. You can trade indices starting from just a 1% margin requirement.

    Leverage

    As we’ve already covered in the above section, CryptoAltum offers up to 1:500 leverage on crypto and forex, and up to 1:100 on gold and indices. The platform is able to offer this amount of leverage as it is not licensed in Europe, so it is not bound by the limits imposed by the European Securities and Markets Authority (ESMA).

    While this may be an attractive prospect to many traders, we always advise you to use leverage with caution and only trade what you can afford to lose.

    Keep in mind that the leverage is depending upon the lot size, which varies depending on the market and asset you’re trading. You can use CryptoAltum’s leverage calculator tool to easily work out the leverage based on the lot size.

    Fees

    One of the most alluring parts of CryptoAltum is that offers some of the lowest fees on the market. You can trade all asset classes with 0% commission and no spread, which is very rare among online trading platforms.

    You can even deposit and withdraw money with no charges, which is also rarely seen in the online brokerage space. As the service’s FAQ section also states, there is no subscription fee too. The main fee you need to consider is the overnight fee, which varies depending on the value of the trade. If you open trades for longer than three days, the fees will increase.

    Bonus

    CryptoAltum has an attractive welcome bonus ready and waiting for new traders. You can bag a 100% deposit match on your first deposit and a 50% match on your second.

    You’ll need to complete a minimum of five trades before you can withdraw any money you earn using the bonus. You can also only withdraw bonus profits once you’ve earned over $100 from using the bonus.

    Special Features

    CryptoAltum has a number of special features that help set it apart from some other brokers in the space.

    Trading tools

    For starters, the platform is fully compatible with MetaTrader5. This allows you to utilize a range of advanced trading tools and enables auto trading, among other features.

    There are some other trading tools available on CryptoAltum, such as the leverage margin calculator, which will help you to find out how much exposure you have, depending on the leverage available to you. There’s also the crypto converter, which keeps track of the latest cryptocurrency prices and will help you find out how much you will need if you’re looking to make a deposit or a withdrawal.

    Another great tool is the real-time margin calculator, which will help you ascertain how much margin you will need to maintain as insurance before you open a position. With this tool, you can effectively manage your trades and find out the perfect size and leverage for your positions – as well as what levels you will not want to exceed – if you want to stay within all risk parameters.

    Demo Account

    CryptoAltum also provides a demo account for users who want to get a feeling of how the platform works. You can use the demo account for 30 days after signing up and use it to find your way around and get acquainted with the platform.

    To access the demo account, log into your platform, and click on “Trading Account. Navigate to “Open a Trading Account,” and select the “Demo Account” tab. You will be able to choose your base currency for the demo account, and the preferred leverage level.

    Reports

    CryptoAltum also provides some useful reports for you to track your account’s activities. You can find a transaction history for your eWallet and a history report on the transactions you’ve been involved in via your trading account. The reports provide you with all the details about the parties involved in each transaction.

    Banking

    CryptoAltum only allows users to deposit and withdraw in cryptocurrencies – fiat currencies aren’t accepted. However, you can exchange fiat currencies into crypto via CryptoAltum’s third party exchange service. This requires a deposit of at least $50.

    On CryptoAltum, you can make deposits and withdrawals using six different cryptocurrencies – Bitcoin, Ether, Litecoin, TrueUSD, Bitcoin Cash, and XRP. The minimum deposit and withdrawal numbers for each asset are as follows:

    • Bitcoin – 0.0001 BTC
    • Ether – 0.00105 ETH
    • XRP – 0.0001 XRP
    • Bitcoin Cash – 0.0001 BCH
    • Litecoin – 0.0001 LTC
    • TrueUSD – 1 TUSD

    Deposits and withdrawals are free of charge. You can also seamlessly transfer funds from your trading account to your wallet whenever you would like. Note, however, that the service manually checks withdrawal orders before granting them. So, while you can deposit instantly, your withdrawal will need about two days to get processed.

    User Experience

    The CryptoAltum service gets top points for ease of use. The platform has a clear user interface which is simple to navigate, with clear links to just about everything you will need. There’s a nifty “Quick Links” feature on the top right-hand side of the trading portal that will allow you to access the crucial things, such as withdrawals, deposits, and integration with MetaTrader5.

    Overall, CryptoAltum certainly provides a smooth user experience which is sure to please both beginner traders and those with more experience in the financial markets.

    Mobile Trading

    CryptoAltum provides a trading platform for every mobile operating system. Apart from the desktop platform, the service is also available as a mobile app on Android, iOS, and Windows.

    All mobile apps work effectively, so you won’t be missing anything, and the user experience is just as seamless, with no pesky glitches. This means CryptoAltum is a great choice for traders of all preferences when it comes to whether you prefer trading on desktop, tablet or mobile.

    Security

    CryptoAltum isn’t licensed by a well-known licensing body like the FCA, CySEC or ASIC, so it may not offer the same level of protection as brokers that are.

    However, the platform does take steps to ensure your account and funds are protected. These include multi-signatories for access to all company wallets, offline storage in four different locations, a daily back up of all company wallets, and advanced antivirus, anti-malware and anti-keylogging software.

    The service also provides 2-factor authentication options, which it recommends for people who would like to enhance their security. The 2-factor authentication works in two primary ways:

    • You can toggle it on to ask for your 2FA details whenever you log into the platform
    • You can also toggle it on to ask for your details when you want to make a withdrawal.

    In this case, 2FA details will be sent to your registered Email address, and you will have to enter them before your withdrawal is processed. It does take a while, but that’s the price for optimal security. To enable 2-factor authentication, log into your account, and click on the “Settings” tab. Navigate to “Security,” and set the 2FA features.

    Customer Service

    If you’re ever in need of assistance, you can contact the company at support@cryptoaltum.com, and there’s also a “troubleshooting” section of the service’s FAQs section that will help you understand some of the most common issues that users might find on the platform.

    There are also chat and contact options for Telegram, WhatsApp, and Facebook Messenger available.

    Supported Countries and Regions

    CryptoAltum doesn’t have any country restrictions, so you can use it as long as you’re able to legally access it from your country.

    How to Trade on CryptoAltum

    It’s quick and easy to get started with CryptoAltum. Follow these steps to sign up and begin trading.

    Step 1: Open an account

    You’ll only need to provide a few basic details, such as your name and email address, to create your account.

    cryptoaltum sign up

    Step 2: Select “Open Trading Account”

    Once you’ve registered with the platform, you need to open an MT5 trading account. Click “Trading Accounts” on the top pane and then “Open Trading Account”.

    Step 3: Select “Live Account”

    You can either try the platform with a 30-day demo account, or begin trading right away by selecting a live account.

    Step 4: Choose your base currency

    You can choose to deposit and withdraw in one of six cryptocurrencies – Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple and Tether.

    Step 5: Select your preferred leverage and click on “Proceed”

    Choose the amount of leverage you wish to trade with. You can choose from 1:5 up to 1:500.

    Step 6: Download MT5

    The service will send details for your account on MetaTrader 5 to your Email. At this point, you have to download the app. Download MT5 and go to “Settings”, click “New account” and enter “Techcraft” in the search box. Then log in with the details CryptoAltum sent you

    Step 7: Fund your account and you can start trading

    Once that’s all done you can deposit and make your first trade. Whether you’re interested in forex, indices or Bitcoin trading, simply select your chosen market, set the parameters and you’re good to go.

    CryptoAltum vs. Other Brokers

    CryptoAltum certainly has a lot going for it, but how does it compare to other similar trading platforms on the market?

    Well, in terms of fees, you’re unlikely to find many CFD brokers that offer the same as CryptoAltum. With no commission or spreads, no deposit or withdrawal fees, and only overnight fees to consider, this is one of the most affordable platforms on the market.

    If you’re looking to trade with high leverage, CryptoAltum could also be a good choice. The fact that it’s not based in Europe means it can offer leverage of up to 1:500, far higher than that available at European-licensed brokers. Other aspects in which CryptoAltum measures up well against competitors is that it supports MT5, facilitating the use of advanced trading tools, and it also has a well-designed platform with an intuitive user interface.

    In terms of the negatives, one of the main things that might put prospective traders off is that CryptoAltum isn’t licensed by a respected body such as the FCA or CySEC, so it may not offer the same level of protection as brokers that are.

    While CryptoAltum offers a decent number of cryptocurrency pairs, its selection of other tradable assets is somewhat limited compared to other platforms. The fact that you can only deposit in cryptocurrencies also will not be to the taste of all traders.

    Conclusion

    If you’re looking to trade a wide range of crypto pairs with high leverage, CryptoAltum could be the platform for you. With MT5 support and some of the lowest fees on the market, this new CFD broker certainly has plenty to offer.

    If you do want to trade at CryptoAltum, you can get started within minutes. Simply click the link below to register and begin trading today.

    CryptoAltum: 0% Commission Trading With Up To 1:500 Leverage

    Our Rating

    • Wide range of crypto pairs
    • Up to 1:500 leverage
    • 0% commission and no deposit or withdrawal fees
    • Supports MT5
    There is no guarantee you will make money with this provider.

    FAQs

    Can I transfer my CryptoAltum portfolio to another broker?

    No. CryptoAltum is a specialist CFD broker, meaning that you never own the underlying asset. Therefore, you are unable to transfer your holdings to another broker. You will need to sell your positions and then withdraw the cryptocurrency back to your wallet.

    Does CryptoAltum offer market or instant execution?

    Yes. CryptoAlum uses market execution to execute trades, and stop losses are available for all trades.

    Is CryptoAltum available in my country?

    CryptoAltum doesn't have any country restrictions, so you can use it as long as you're able to legally access it from your country.

    Does CryptoAltum offer a dealing desk?

    No, it doesn’t. On CryptoAltum, all trades are filled automatically with no dealing desk intervention.

    Can I access the same account through my phone and computer?

    Yes, whether it's through the mobile, desktop, or web-based trading platform, all accounts are facilitated via MT5. This means that you can access the same account on all device types.

    Remember, all trading carries risk. Past performance is no guarantee of future results.
    Avatar

    Jimmy has been following the development of blockchain for several years, and he is optimistic about its potential to democratize the financial system.