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CryptoAltum Review

 

Overall,  CryptoAltum offers trading with leveraged CFDs in 4 asset classes; mainly cryptocurrencies, but also forex, indices, and commodities with competitive spreads and zero trading commissions. CryptoAltum requires a minimum deposit equivalent to $100 / R 1,670.83  in the accepted account (crypto)currencies for the account.

 

CryptoAltum at a Glance

 

📅 Year Founded2019
📍 Head Office
Marshall Islands
⚖️ Financial Regulatory Bodies
None
📈 Managed accounts
No
📊 Institutional accounts
Yes
☪️ Islamic AccountYes
💰 Minimum Deposit
$100 / R 1,670.83 equivalent in the chosen base account cryptocurrency
👍 Demo Trading Account available
Yes
🌐 Countries not accepted for tradeNone
💰 Withdrawal options
Bitcoin, Litecoin, Bitcoin Cash, Ethereum, Ripple, and Terra.
📒 Deposit optionsBitcoin, Litecoin, Bitcoin Cash, Ethereum, Ripple, and Terra.
💻Platform(s) providedMT5
🖥️ OS compatibility
Mac, Windows, Linux, Web, Mobile Android, iPhone, iPad.
📈 Tradable assets
cryptocurrencies, FX, indices, and commodities.
📓 Languages supported on the websiteChinese, English, Japanese, Portuguese
📓  Customer support languagesChinese, English, Japanese, Portuguese
☎️ Customer service hours24/7
Maximum Leverage1:500
👉 Open a account👉 Click Here

 

Overall Rating

4.3/5

Rated #545 of 
Recommended FX Brokers

💰Minimum Deposit
🌐 Regulators
📱 Trading Desk
Crypto

📈 Total Pairs

☪️ Islamic Account
📊 Trading Fees
🕒 Account Activation Time
🏛️ Visit Broker

 

CryptoAltum Review – 19 key points quick overview:

 

 

CryptoAltum Overview

 

CryptoAltum Overview

 

CryptoAltum is a forex broker company in the Marshall Islands.

 

A Forex broker like CryptoAltum provides traders access to one or more platforms that will allow them to buy and sell foreign currencies. Retail currency traders use these broker companies to gain access to the 24-hour currency market for speculation purposes.

 

Forex broker services can also be provided for institutional clients and large companies such as investment banks.

 

CryptoAltum was established in 2019 and claims to offer a true Straight Through Processing (STP) crypto trading environment, providing traders with fast execution speeds and no dealing desk intervention or price manipulation.

 

It is registered in the Marshall Islands and has offices also in Cyprus and Europe.

 

CryptoAltum offers trading with leveraged CFDs in 4 asset classes; mainly cryptocurrencies, but also forex, indices, and commodities with competitive spreads and zero trading commissions. Trading with CryptoAltum happens with MetaTrader 5, available on the Web Trader version, Windows desktops, and iOS or android mobile devices.

 

The broker offers only a Standard, or MT5 account, with variable low spreads, zero fees, and zero trading commissions.

 

CryptoAltum only offers trading accounts in crypto: Bitcoin (BTC), Cardano (ADA), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), and Tether (USDT) – both USDT-Omni and USDT-ERC20 and does not accept fiat deposits.

 

CryptoAltum requires a minimum deposit equivalent to $100 in the accepted account (crypto)currencies for the account.

 

CryptoAltum Awards and Recognition

 

In the world of forex broker companies being honored with awards from esteemed organizations or publications, count much for the company’s reputation. Such awards are usually mentioned with pride on the company website.

 

Although CryptoAltum is rated highly by some customers in personal reviews on review websites, there is no information available on the CryptoAltum homepage or elsewhere about any awards received by them.

 

CryptoAltum Accounts

 

CryptoAltum Accounts

 

A forex account is a trading account held by a trader with a company like CryptoAltum, that is issued with the primary purpose of trading through its platforms.

 

CryptoAltum Types of Accounts and their Features

 

CryptoAltum only offers one account type, the MT5. Its excellent trading conditions on multiple cryptocurrency pairs, with STP executions, are ideal for professional investors.

 

The broker follows an NDD/STP execution model, allowing investors to trade all instruments and connecting them to its multiple liquidity provider venues for the best market prices.

 

CryptoAltum’s MT5 account is useful for scalpers, high-volume traders, and those trading with Expert Advisors (EAs).

 

The MT5 account has floating spreads starting at $1.75 for the BTC/USD pair, 0.3 pip for Gold, and 1.4 pip for the EUR/USD cross, and with zero trading commissions. The MT5 account can be opened with a leverage ratio of up to 500:1, and with a deposit of $100, or equivalent in base currencies such as ADA, BTC, ETH, XRP, LTC, BCH, and USDT.

 

CryptoAltum also offers swap-free accounts for Islamic traders, but these swap-free conditions only apply to FX pairs. Cryptocurrency pairs have the same financing fees as regular accounts.

 

CryptoAltum does not offer custom social trading or copy trading, nor do PAMM accounts for money managers, but copy trading is enabled via its MT5 platform.

 

CryptoAltum offers a demo account for traders to test how it compares against its peers and as a way for novice traders to practice their trading skills in a safe environment.

 

Opening a CryptoAltum demo account takes around 2 minutes, through filling in a simple form with basic information. After accepting the terms & conditions, the client will receive an email confirming the registration, enabling access to the client dashboard where users can click the “Trading Accounts” tab to open a new demo account in a few simple steps.

 

The CryptoAltum demo account can be used for an unlimited period.

 

Overall Rating

4.3/5

Rated #545 of 
Recommended FX Brokers

💰Minimum Deposit
🌐 Regulators
📱 Trading Desk
Crypto

📈 Total Pairs

☪️ Islamic Account
📊 Trading Fees
🕒 Account Activation Time
🏛️ Visit Broker

 

CryptoAltum Deposit and Withdrawals

 

CryptoAltum Deposit and Withdrawal

 

CryptoAltum provides Bitcoin, Litecoin, Bitcoin Cash, Ethereum, Ripple, and Terra as funding methods and trading accounts can be opened in 7 different cryptocurrencies (BTC, ETH, LTC, XRP, BCH, ADA, and USDT, both USDT-Omni and USDT-ERC20) and maintained via wallet to wallet transfer.

 

CryptoAltum does not accept fiat deposits via bank wires or debit and credit cards.

 

Deposited funds are almost immediately available after CryptoAltum receives two confirmations from the blockchain and no deposit fees are charged although blockchain network fees will apply.

 

A CryptoAltum trading account can be opened within minutes online with a minimum deposit requirement of $100 equivalent to the chosen account base cryptocurrency.

 

CryptoAltum does not charge fees or commissions for withdrawals, but blockchain network fees will apply. Withdrawals can be done 24/7 and requests are processed within 1 to 2 hours, with most payments being instant – subject to the cryptocurrency’s network times.

 

In the case of withdrawal(s) with a value over $5,000, the broker may request a copy of the user’s ID.

 

CryptoAltum Cost and Fees, Commissions, and  Spreads

 

CryptoAltum Fees

 

The cost of trading depends on different factors like commissions, spread, and margins.

 

The amount of money required in your account to open a position is called the margin and is calculated according to the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your account.

 

Commissions are the charges imposed by an investment broker on a trader for making trades on the trader’s behalf. The level of commissions depends on the asset being traded and the type of service offered by the broker.

 

CryptoAltum offers zero trading commissions, as well as zero fees on deposits and withdrawals.

 

CryptoAltum doesn’t need to fight with its peers for a lower 0.1 pip spread on the EUR/USD since it focuses on cryptocurrency trading, and this asset class is where the broker is competitive.

The starting spread for the most popular cryptocurrency cross, the BTC/USD pair, on the MT5 account is $1.75, variable, with a medium of $3, without any added trading commissions per lot traded.

CryptoAltum financing rates for the BTC/USD, stand at -0.0147% for holding a long (buy) position and at -0.0123% for holding a short (sell) position, with the financing fees being charged every four hours. CryptoAltum also does not charge an inactivity fee.

 

CryptoAltum Leverage

 

CryptoAltum Leverage

 

Leveraged product trading magnifies a trader’s potential profit – but of course, also increases the potential loss. This facility that enables traders to get a larger exposure to the market than the amount they deposited to open a trade, is called leverage.

 

The amount of leverage is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that a trader has $1 000 in a trading account and is trading ticket sizes of 100 000 USD/JPY, that leverage will equate to 100:1.

 

Traders should always keep in mind that, although high leverage offered may be a plus point for the brokerage, trading at such high leverage should only be attempted by experienced traders that know how to prevent big losses.

 

CryptoAltum allows its traders to use a maximum leverage ratio of up to 1: 500

 

CryptoAltum Bonuses

 

CryptoAltum Bonuses

 

Forex brokers often lure new traders with offers of deposit bonuses. This can be useful, but it is essential to discern what the conditions are to really benefit from a bonus.

 

The bonus usually compensates traders for choosing a certain broker, since once the account is active, the trader will have the same expenses as any other. The bonus usually only starts giving some expenses back to the trader once the person has proved himself as an active trader.

 

Hence, although no deposit bonuses are a great way to help you start trading, the terms to benefit from it often require trading with such a high volume before you can withdraw profits, which may not be worthwhile.

 

According to the company website and other sources, CryptoAltum offers a 100% first deposit bonus, followed by a 50% second deposit bonus, allowing clients to maximize their trading potential.

 

For the 100% first deposit bonus, the maximum bonus amounts are 0.0168 BTC, 0.24ETH, 710 XRP, 1.25 BCH, 4.68 LTC, and 800 USDT, and only one bonus credit per household is allowed.

 

Cash back rebates are paid per round turn lot unless otherwise specified.

 

CryptoAltum Trading Platforms, Software, and its Features

 

CryptoAltum Trading Platforms

 

The forex trading software, also called the platform, provided by a broker company to its clients to carry out their trades can be a multi-asset one that allows clients to trade forex as well as other asset classes like CFDs on stocks, stock indices, precious metals, and cryptocurrencies.

 

Some companies provide their own proprietary platform, which may benefit traders due to specific characteristics developed by specialists employed by the broker, while others prefer to provide the better-known platforms that were tried and tested over time.

 

CryptoAltum offers the next-generation MetaTrader 5, available for desktop, as a Web Trader version requiring no downloads and compatible with most internet browsers (Edge, Chrome, Firefox, etc) and mobile versions for iOS and Android.

 

CryptoAltum Markets, Products, and Instruments

 

CryptoAltum Market Instruments

 

📍 Most brokers offer all or some of the following market instruments for trading:

Forex:

Forex trading, or currency or FX trading, involves the currency exchange market where individuals, companies, and financial institutions exchange currencies for one another at floating rates.

 

Commodities:

As with currency exchange markets, commodity markets offer trading in contract-based tradable goods.

 

Indices:

Equity or stock indices can represent a specific set of the largest companies of a nation or they can represent a specific stock market.

 

Precious metals:

This involves the trading of gold, silver, and other precious metals as hard commodities that are contract-based tradable.

 

Energy:

The high volatility of energy prices due to political, environmental, and several other factors, is a typical feature of this product, making it a popular trading choice.

 

Cryptocurrencies:

📍 Tradable cryptocurrencies include the following:

Bitcoin (BTC) is the digital currency with the largest market capitalization and price levels and dominates 50% of the total crypto market cap.

Litecoin (LTC) is similar to Bitcoin but differs in terms of scalability.

Ethereum (ETH) is the second largest cryptocurrency after Bitcoin and allows developers to create smart contracts on a platform.

Ripple (RPL) is popular among big banks with the Ripple network a next-generation real-time gross settlement system.

Bitcoin Cash (BCH) was created as a new version of the blockchain with different rules.

CryptoAltum offers traders access to multi-asset trading – cryptos and other CFDs on several financial instruments.

 

📍 CryptoAltum offers over 60 crypto crosses, including Alt-coins, and a few extra instruments, including forex and CFDs in indices, and commodities:

➡️ Cryptocurrencies: 60+ cryptocurrencies CFDs crosses for trading versus the USD, JPY, EUR, BTC, XRP, and ETH, including ADA, BNB, BTC, EOS, ETH, LTC, and XRP.

➡️ FX market: 18 currency pairs, including all major pairs and some minor crosses.

➡️ Indices: 3 very liquid indices CFDs; DOW30, JP225 and GTi12 (GT Crypto Index).

➡️ Commodities: 2 commodities CFDs available for trading – 1 metal with Gold, and 1 energy with US Oil.

➡️ Stocks: Currently, CryptoAltum does not offer stocks CFDs for trading.

 

Overall Rating

4.3/5

Rated #545 of 
Recommended FX Brokers

💰Minimum Deposit
🌐 Regulators
📱 Trading Desk
Crypto

📈 Total Pairs

☪️ Islamic Account
📊 Trading Fees
🕒 Account Activation Time
🏛️ Visit Broker

 

CryptoAltum Safety and Regulation

 

CryptoAltum Safety and Security

 

Before deciding to join a brokerage company to start trading, a potential trader needs to establish whether a broker like CryptoAltum is safe and secure to trade with. One of the most reliable benchmarks to measure the safety of a brokerage is to establish which regulating authorities are watching and overseeing its actions and whether the company complies with those regulations.

 

In general, a so-called “offshore” broker tends to have a less favorable reputation and potential traders should think carefully before investing with them.

 

Excel Innovations Ltd, trading as CryptoAltum, is registered in the Marshall Islands and not regulated. This allows them to circumvent the restrictions around crypto trading and offer more attractive trading conditions (including higher leverage limits), accept trading account deposits in several cryptocurrencies, and maintain clients’ anonymity.

 

CryptoAltum however deploys several safety measures, including the cold storage of client funds, held on offline external storage devices over four different locations, which means that client funds are protected from internet attacks and cannot be accessed by hackers.

 

CryptoAltum unfortunately does not offer deposit insurance or has membership in any Investor Compensation Fund but offers a default Negative Balance Protection mechanism to protect clients from negative balances.

 

CryptoAltum Customer Support

 

Potential traders need to be assured that the broker company they chose can offer the necessary support and help whenever they may need it. The ease with which such support teams can be contacted may also play a role when choosing a broker.

 

The customer support team of CryptoAltum can be reached via email and live chat, which is available 24 hours a day, 7 days a week via WhatsApp, messenger, telegram, and Line.

 

CryptoAltum Education and Training

 

CryptoAltum Education and Training

 

Before starting to trade, potential CryptoAltum clients should arm themselves with all possible information and trading skills needed to be successful in the world of forex and commodity trading.

 

CryptoAltum does offer a range of trading education materials and tools, available through the “Tools” tab on its website. A CryptoAltum blog is packed with market updates and experts and offers a subscription to a free Telegram Channel for daily updates.

 

CryptoAltum Research

 

CryptoAltum Research

 

Potential traders need to be enabled to do as much as possible research about speculative trading before commencing to do it and while trading with a specific brokerage. Trading successfully relies heavily on knowledge and understanding of the markets and the platforms offered by a broker, therefore research options offered by brokers form an integral part of its features when choosing the right company to trade with.

 

📍 CryptoAltum offers the following research options:

➡️ FX Courses – money management, how to trade the markets, etc.

➡️ Market Analysis – daily or weekly market reports

➡️ Trading Videos – trading education videos

➡️ Trading Tools – calculators, economic calendars, etc.

 

Conclusion

 

Overall,  CryptoAltum offers trading with leveraged CFDs in 4 asset classes; mainly cryptocurrencies, but also forex, indices, and commodities with competitive spreads and zero trading commissions. CryptoAltum requires a minimum deposit equivalent to $100 / R 1,670.83  in the accepted account (crypto)currencies for the account.

 

Disclaimer

 

CryptoAltum warns potential traders that Forex and CFDs trading always carries a high level of risk, therefore may not be suitable for all investors.

 

Before clients decide to trade the products offered by CryptoAltum, they are advised to contemplate their investment objectives, financial situation, needs, and level of experience carefully before investing money that they cannot afford to lose.

 

Especially when traders use CryptoAltum ’s leveraged accounts, they should make sure to maintain a sufficient level of margin to sustain their positions, since trading Forex/CFD and Options on margin and using a higher than necessary leverage can be either beneficial or detrimental to a trader. It is always possible to sustain a loss of some or all of an initial investment.

 

While CryptoAltum promises to make all efforts to fill a trade at the requested price, trading online does not necessarily reduce risks associated with currency trading, therefore quotes and trades are usually subject to the terms and conditions of a Client Agreement, which is accessible through the broker’s website.

 

Frequently Asked Questions

TRADING ENVIRONMENT

 

How many instruments can I trade with CryptoAltum?

You can trade several different instruments with CryptoAltum, which include the following:

  • cryptocurrencies,
  • FX, indices
  • Commodities

 

Which platforms are supported by CryptoAltum?

CryptoAltum provides the popular MT5 trading platform

 

Does CryptoAltum offer leverage?

Yes, CryptoAltum offers maximum leverage of up to 1:500

 

What spreads can I expect with CryptoAltum?

CryptoAltum offers spreads from $1.75 for the BTC/USD pair, 0.3 pip for Gold, and 1.4 pip for the EUR/USD cross.

 

Does CryptoAltum charge a commission?

CryptoAltum does not charge a commission fee as the cost is included within the spread.

 

Are there additional charges on the Islamic account?

Some brokers charge extra fees on Islamic accounts – either in wider spreads, additional commissions, or administration fees to make up for money that they lose by not charging overnight fees. New Islamic traders should enquire about these special conditions or extra fees before joining, because it is often overlooked or not indicated on the account features pages.

 

Is CryptoAltum regulated and by whom?

CryptoAltum is not regulated.

 

Is CryptoAltum a recommended forex trading broker for experts and beginners?

CryptoAltum offers a fair trading environment for most types of traders.

 

What is the overall rating out of 10 for CryptoAltum?

6/10

 

ACCOUNTS

 

What is the difference between a demo and a live trading account?

A demo account as is offered by broker companies like CryptoAltum is usually funded with virtual money and gives a prospective customer the opportunity to experiment with the company’s trading platforms and its features.

 

Does CryptoAltum offer a demo account?

Yes

 

How long is the demo account valid?

The demo account can be used unlimited

 

Which live trading accounts does CryptoAltum offer?

  • MT5 Standard account

Does CryptoAltum offer an Islamic Account

Yes.

 

What are the available deposit currencies for a live trading account?

BTC, ADA, ETH, LTC, XRP, BCH, and USDT.

 

DEPOSITS AND WITHDRAWALS

What is the minimum deposit required to open an account with CryptoAltum?

$ 100

 

How do you make a deposit and withdraw money with CryptoAltum?

CryptoAltum offers the following deposit and withdrawal methods:

  • Bitcoin
  • Litecoin
  • Bitcoin Cash
  • Ethereum
  • Ripple
  • Terra

 

Does CryptoAltum charge withdrawal fees?

No, but blockchain network fees will apply.

 

How long does it take to make a withdrawal?

Withdrawals can be done 24/7 and requests are processed within 1 to 2 hours, with most payments being instant – subject to the cryptocurrency’s network times.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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