CryptoAltum is a legally registered forex broker located in the Marshall Islands, but not regulated by any government agency.
CryptoAltum accepts clients from all over the world, excluding some jurisdictions where restrictions apply.
Forex broker offers the following underlying assets for trading.
|10+ Currency Pairs||Based on major and minor world currencies.|
|60+ Crypto Pairs||Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dash, Ripple, Cardano, Monero, Stellar, Tezos, Iota, EOS.|
|2 Indice CFDs||Based on Dow 30 and Nikkei 225.|
|1 Crypto Indice CFD||Based on a basket of different cryptocurrencies.|
|1 Metal CFD||Based on Gold.|
CryptoAltum is a relatively new CFD broker based out of the popular offshore jurisdiction known as the Marshall Islands. As often is the case with offshore-based brokers, CryptoAltum is unregulated, and is therefore able to offer high trading leverage and a simple sign-up process without the usual documentation requirements.
Keep in mind, however, that trading with brokers that are not regulated by any government agencies also comes with certain risks, and everyone should therefore make sure they fully trust such a broker before depositing money with it.
Unlike most other forex & CFD brokers, CryptoAltum is a broker that works exclusively with cryptocurrencies, and does not accept deposits and withdrawals in any traditional fiat currencies. This certainly makes it more difficult for traders who don’t already hold cryptocurrencies to fund a trading account, but it also makes the whole funding process efficient since payments are processed near instantly with zero fees.
Trading accounts with CryptoAltum can be opened in a number of different cryptocurrencies. At the time of this review, the available base currencies are Bitcoin (BTC), Bitcoin Cash (BCH), Ripple (XRP), Ethereum (ETH), Litecoin (LTC), and the US dollar-pegged stablecoin TrueUSD (TUSD).
The broker also has a heavy emphasis on trading in cryptocurrency CFDs, with exceptionally high leverage of up to 1:500. The selection includes more than 60 pairs of different cryptocurrencies traded against fiat currencies such as the US dollar, Japanese yen, and the euro, as well as against other cryptos.
However, CryptoAltum also offers plenty of other assets for those who prefer the less volatile traditional financial markets. This includes more than 10 foreign currency pairs, major stock indices, and gold. In addition, the broker also offers trading in a cryptocurrency index known as GTi12, which is made up of 12 major cryptocurrencies.
Like the underlying markets, trading in all crypto CFDs is available 24/7, while forex, commodities, and stock indices are tradeable 24 hours a day on Mondays through Fridays.
All assets are offered with floating spreads that are usually reasonably tight, although they can occasionally widen to a higher level. The broker’s own mark-ups are included in the spreads, which means that no commissions are charged on trades as of now.
Another special thing about CryptoAltum is that all trading takes place on the legendary MetaTrader 5 (MT5) platform, with no other platforms offered as of now. As usual, the MT5 is available both in its classic desktop-based interface for Windows computers, a web-based version for any type of computer, and as mobile apps for Android and Apple devices.
Lastly, CryptoAltum’s customer support can conveniently be contacted in a live chat through either WhatsApp, Telegram, Facebook Messenger, or directly from the website. For less urgent needs, the broker can also be contacted as usual per email. Unfortunately, no support phone number is provided for clients.
All in all, it’s clear to us that CryptoAltum is trying to position itself as one of the leading brokers in the crypto CFD space. However, the broker is still relatively new, and therefore has not really had the time to prove itself for a large number of traders yet. With time, however, we believe CryptoAltum will turn out to become one of the leading players in the crypto/forex/CFD hybrid space.