CryptoAltum Review
CryptoAltum is a leading trading platform focusing on their crypto offering. Their mission is to make crypto trading easy and accessible to everyone. They provide online trading with the markets highest leverage and lowest trading fees on Bitcoin and other cryptocurrencies. CryptoAltum uses the intuitive MT5 platform for desktop, mobile and web.
CryptoAltum has some of the lowest spreads available for leveraged crypto trading. This CFD broker is primarily focused on cryptocurrency CFDs, with over 60+ popular cryptos to choose from including Bitcoin and Ethereum. They also offer a selection of other CFD instruments such as forex currency pairs, indices and commodities. It is quick and easy to open an account as they have an instant account opening process without prolonged KYC. Demo accounts are available free of charge if you wish to practice trading online. You can securely fund your CryptoAltum account from your crypto wallet whilst they provide 24/7 withdrawals.
CryptoAltum have a powerful yet easy to use trading platform in MetaTrader 5. You can trade a range of CFD instruments with competitive trading conditions and no restrictions on your trading strategy as they allow scalping, hedging and news trading. Clients can benefit from tight spreads, reliable non-dealing desk execution and no commission fees. There are a range of trading tools including a VPS and a selection of trading guides. Despite the positives, the broker is not currently regulated.
CryptoAltum provides crypto and forex trading all from one platform. You can trade CFDs on cryptos, forex, commodities (gold/oil) and indices in one single account. A CFD is a derivative instrument, whereby trading is based purely on price speculation of the underlying instrument, with no physical exchange of an asset taking place. CryptoAltum are one of the few brokers that I have come across that support cryptocurrency trading 24 hours a day, 7 days a week.
CryptoAltum Instruments Summary
| Instruments | CryptoAltum |
|---|---|
| Forex | ✓ |
| Stocks | x |
| Indices | ✓ |
| Commodities | ✓ |
| Cryptos | ✓ |
| Options | x |
| Bonds | x |
| ETFs | x |
| CFDs | ✓ |
Commission and Spread Fees
The CryptoAltum average BTC/USD spread is just $3, which is very competitive when compared to some of the brokers direct competitors such as CryptoRocket. Forex spreads are also OK starting from 1.4 pips whilst gold spreads start at just 0.3 pips and indices 2.8 points respectively. These spreads are reasonable when you consider that CryptoAltum do not charge a commission fee. Instead, it is already factored into the spreads via a mark-up. However, that might not make them suitable for scalping. If you would prefer spreads from 0.0 pips and do not mind paying a commission fee, RoboForex might be worth a look.
The broker operates an STP (Straight Through Processing) model. This means that all trades are automatically executed with zero dealing desk intervention. They receive liquidity from over 10 top global exchanges, and through an aggregation engine, they offer clients the best available price at any given moment. All trades are executed with market execution. This means your trades are automatically filled at the best available price in the market with no requotes.
| Fee | Standard Account |
|---|---|
| Commission (per standard lot per side) | $0 |
| Spreads from | BTC from $1.75 / Forex from 1.4 pips / Gold from 0.3 pips / Indices from 2.8 points |
Deposit and Withdrawal Fees
CryptoAltum do not charge any deposit or withdrawal fees, but you may incur a blockchain fee as with any crypto transaction. Please take into consideration the miner fees which are applicable to any crypto transaction. These fees appear on the blockchain and are not fees from CryptoAltum.
Inactivity Fees
CryptoAltum do not have any inactivity fees. Therefore, you should not get any unexpected charges should you not access or use your trading account for a sustained period of time.
MetaTrader 5
CryptoAltum uses the sophisticated and powerful MetaTrader 5 (MT5) trading platform. Crypto trading requires the most precise and advanced technology available in the market today. The MT5 platform is considered by some traders to be one of the best trading platforms in the world for trading CFDs. It is available free of charge for web, desktop and as a mobile trading app for those who need to trade whilst on the go.
Some of the key MT5 platform features include the following:
- Optimized for Bitcoin and cryptocurrency trading
- One Click Trading
- 60+ Crypto Pairs Supported
- Level II Market Depth Pricing
- Advanced Pending Order Settings
- Price Alert Notifications
- Superior Trading Tools and Indicators
- Built-in Economic Calendar
- Multiple Chart Types and Timeframes
- Automated Trading with Expert Advisors (EA’s)
- Advanced EA coding using MQL5
- Hedging and Scalping Allowed
- Desktop Platform, Web Trader and Mobile App
Virtual Private Server
Hosting your trading platform on a Virtual Private Server (VPS) allows you to run your automated strategies 24 hours a day, 7 days a week with the fastest possible connection to the CryptoAltum trading servers.
CryptoAltum offers a free Virtual Private Server (VPS) with an equivalent minimum deposit of $1,000 USD, and a minimum monthly trading volume of 50 lots BTC or 10 lots FX. Keep in mind that if you do not meet the minimum requirements then the VPS can be cut off without prior notice. You can also get a free VPS from some other brokers including Switch Markets.
- Stay connected even when your Desktop/Mobile/Tablet is offline
- Uninterrupted automated EA trading
- Reduced latency to less than 5ms
- Access your VPS from any device
Trading Tools
You will find a useful range of trading tools on the CryptoAltum website which can assist with preparing positions. There are real time leverage and margin calculators, a crypto convertor and an economic calendar to stay ahead with the latest market news. You can use the Economic Calendar to monitor and prepare for market moving events, such as economic indicators and monetary policy announcements.
CryptoAltum Platforms Summary
| Platform | CryptoAltum |
|---|---|
| MetaTrader 4 (MT4) | x |
| MetaTrader 5 (MT5) | ✓ |
| cTrader | x |
| Proprietary | x |
| Desktop | ✓ |
| Web | ✓ |
| Mobile | ✓ |
| Social Trading | x |
| Other (VPS, Trading Calculators, Crypto Convertor, Economic Calendar) | ✓ |
Education Center
CryptoAltum have an education center with some free trading guides that can help beginners improve their trading knowledge and skills. There is also a handy trading glossary which has easy to understand explanations for some of the most common trading terminologies. It would be great if they extended on educational resources with some tutorial videos. They host webinars every Thursday for new clients. They also offer a Udemy course for free on a monthly basis to all clients. For a better range of educational content, you might want to have a look at IronFX.
Market Analysis
The CryptoAltum analysis team provide frequently updated technical analysis articles which can be a great way to keep up to date with some of the latest market moves and help to inspire trade ideas.
CryptoAltum Research and Education Summary
| Resources | CryptoAltum |
|---|---|
| Market Analysis | ✓ |
| Guides | ✓ |
| Videos | x |
| Webinars | ✓ |
| Autochartist | x |
| Trading Central | x |
| Economic Calendar | ✓ |
| Other | x |
CryptoAltum clients can make safe, secure and fast deposits and withdrawals using cryptocurrencies. They have one of the largest selections of cryptos for account funding that we have seen. You can fund your account instantly from your crypto e-Wallet, and enjoy unrestricted, anonymous blockchain withdrawals. Supported cryptos include BTC, USDT, ETH, LTC, BCH, XRP, ADA. I think they could improve by also adding support for some e-wallets. From my experience, the blockchain fee can be quite high. I have had a scenario where it took a massive chunk out of my deposit and almost left me out of pocket. For a good variety of e-wallet options, you could consider FXChoice instead.
CryptoAltum Funding Summary
| Payment Method | Deposit | Withdrawal |
|---|---|---|
| Wire Transfer | x | x |
| Credit/debit Card | x | x |
| Electronic Wallets | x | x |
| Cryptos | ✓ | ✓ |
CryptoAltum is currently not regulated. Whilst this may deter some potential clients, others will understand that this means they are able to provide certain trading conditions that a regulated broker may not be able to due to strict rules. If you would prefer to trade with a regulated broker, AvaTrade are one of the most well-regulated brokers that you will find who also provide crypto trading.
CryptoAltum Regulation Summary
| Regulator | CryptoAltum |
|---|---|
| ASIC (Australia) | x |
| IIROC (Canada) | x |
| CySEC (Cyprus) | x |
| SFC (Hong Kong) | x |
| JFSA (Japan) | x |
| MAS (Singapore) | x |
| FINMA (Switzerland) | x |
| FCA (UK) | x |
| CFTC (USA) | x |
| Other | x |
CryptoAltum Safety
CryptoAltum does not require KYC or employ any onchain surveillance technologies, assuring traders of privacy and anonymity. They state that they use cold storage of client funds, meaning that your funds are held on external storage devices and cannot be stolen by hackers. Strict internal procedures requiring multiple signatories and time delayed access to the cold storage can help to guarantee the security of all funds held by the broker.
- Multi-signatories required for access to all company e-Wallets
- Offline Storage in four different locations
- Advanced antivirus, anti-malware and anti-keylogging software
- Private Keys securely backed up
- Daily back up of all company e-Wallets
You can reach out to the CryptoAltum support team using the live chat feature on the brokers website and by sending them an email (support@cryptoaltum.com). Support is available 24 hours a day, 7 days a week via chat, Whatsapp, Telegram, Messenger and email.
CryptoAltum is a crypto broker that can deliver a diverse crypto trading experience. Along with flexible leverage and tight spreads, CryptoAltum offers a powerful trading experience with industry-leading trading platforms. However, they are not currently regulated and only accept crypto funding at this time.
