CryptoAltum Review 2022 - Verified Customer Reviews

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3.3
User Rating
5.0
(1)
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CryptoAltum Review

Updated November 19, 2021
3.3
Score breakdown
Pricing: 5
Regulation: 0
Popularity: 3
User Rating: 5 (1)

CryptoAltum overall score rank: 15 out of 58

CryptoAltum broker review

Risk Disclosure: Trading 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.

KEY TAKEAWAYS

  • Industry-leading spreads on several cryptocurrencies pairs
  • Over 60 cryptocurrencies pairs available for trading
  • 100% bonus with the first deposit 
  • Clever dynamic leverage, up to 500:1
0.0  


Entity Name Licence & Regulation Client Money Protection Deposit Compensation Scheme Negative Balance Protection
Excel Innovations Ltd
(Marshall Islands)
unregulated ✔️

Entity/Regulation

CryptoAltum is the trading name of Excel Innovations Ltd, a company registered in the Marshall Islands and with offices also in Cyprus, Europe. CryptoAltum is an unregulated online broker with two goals: offer the best crypto trading conditions and maintain the security and privacy of customers.

While it might be a deterrent for some investors, by being unregulated, CryptoAltum can offer its clients the most competitive trading conditions (including higher leverage limits), accept trading account deposits in several cryptocurrencies and maintain the anonymity of its clients by not requiring a strict KYC procedure for account opening.

Client Money Protection

CryptoAltum deploys several safety measures to ensure the security of client funds. The broker uses cold storage of client funds, held on offline external storage devices, distributed in four different locations, meaning that client funds cannot be accessed and stolen by hackers. Not only that, but 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.

The other client money protection measures used by CryptoAltum include an advanced antivirus, anti-malware and anti-keylogging software, private keys securely backed up and daily backup of all company e-wallets. So, we can see that the broker did not spare any efforts to assure client funds are well-protected, making the issue of customers funds safety of paramount importance.

Deposit Compensation Scheme

Excel Innovations Ltd does not offer deposit insurance, as the company is not a member of any Investor Compensation Fund. The deposit compensation is not a requirement by the jurisdiction where Excel Innovations Ltd is based. In the unlikely event that Excel Innovations Ltd becomes insolvent, or is unable to pay claims against it if the firm has stopped trading, clients might not be entitled to any compensation.

Negative Balance Protection

For accounts opened with Excel Innovations Ltd, there is a default Negative Balance Protection mechanism in place. With the NBP mechanism, customers of Excel Innovations Ltd are protected from any losses bigger than their original investments, in cases of extreme market volatility.

Accounts, Instruments and Platforms

Accounts Instruments Platforms Social trading Maximum Leverage
✔️Standard
❌PAMM
✔️Islamic Accounts
✔️Forex
✔️Indices
❌Stocks
❌Futures
❌ETFs
❌Bonds
✔️Commodities
✔️Cryptos
❌MT 4
✔️MT 5
❌cTrader
❌Copy Trading 500:1* Globally
*CryptoAltum deploys 5 levels of dynamic leverage, applicable to the account volume in USD.

Account types and currencies

  • Trading accounts: CryptoAltum offers 1 account type with the Excel Innovations Ltd entity, MT5 (Standard). CryptoAltum also offers swap-free accounts for traders of Islamic belief, but please note that the swap-free conditions apply only to FX pairs. Cryptocurrency pairs have the same financing fees as regular accounts.

  • Social trading: Unfortunately, CryptoAltum does not offer social trading or copy trading at the moment.

  • PAMM: Currently, CryptoAltum does not offer any MAM or PAMM accounts alternatives for money managers.

  • Leverage: CryptoAltum leverage ranges from 5:1 to 500:1, for accounts opened globally.

  • Account currencies: Currently, CryptoAltum trading accounts are only available in BTC, ETH, XRP, LTC, BCH and USDT.

Financial instruments

Trading with CryptoAltum can be done only via the MT5 trading platform), available for Windows desktops (32b and 64b), for Mac OS, as a Web Trader version compatible with Chrome, Firefox, Safari and Opera internet browsers and complemented with the mobile app for Android and iOS devices.

CryptoAltum is mainly a crypto broker, and as such, offers one of the most complete selections of instruments, with over 60 cryptocurrency crosses to trade, and a few extra instruments including forex and CFDs in indices, and commodities.

  • FX market - 18 currency pairs (including Minor crosses).

  • Indices - 3 indices CFDs - DOW30, JPN225 and GTi12 (GT Crypto Index).

  • Stocks - Currently, CryptoAltum does not offer stocks CFDs for trading.

  • Commodities - 2 commodities CFDs available for trading - 1 metal with Gold, and 1 energy with US Oil.

  • Cryptocurrencies - Did we mention that CryptoAltum is mainly a crypto broker? The broker offers over 60 cryptocurrencies CFDs crosses (including a few Alt-coins combinations) for trading versus the USD, JPY, EUR, BTC, XRP and ETH, including ADA, BNB, BTC, EOS, ETH, LTC and XRP.

Pricing

5.0  


Pricing/
Account
MT5 Standard
Spread BTC/USD from $1.75
Commissions BTC/USD (1 lot)
Minimum Deposit from $100 in crypto

Spreads

CryptoAltum offers investors industry-leading pricing, and competitive trading spreads across several asset classes, with a note on cryptocurrencies instruments. For the most traded crypto pair, the BTC/USD, the spread with CryptoAltum is an unbeatable 1.75 USD (average 3 USD), and commission-free and no hidden fees! So, the real cost is just the low spread proposed by CryptoAltum.

CryptoAltum's pricing is lower when compared with other top crypto brokers offering an STP trading environment. Plus adding to the cost of trading the zero fees for deposits and withdrawals, the 3 USD average spread for the BTC/USD pair, and zero trading commissions, we can see how this broker is aiming at stirring the industry with its lower and cheaper trading costs.

But it doesn't stop with the competitive spreads on crypto trading. Investors can also use CryptoAltum to trade FX pairs with spreads starting at 1.4 pip and Gold with low spreads starting at 0.3 pip. And the cherry on top of the cake? CryptoAltum charges zero commissions also on FX, Gold, US Oil and indices trading.

Financing Fees

CryptoAltum financing fees, as of 19-11-2021, for 1 lot BTC/USD stands at an average rate of -0.0147% for holding a long position (a buy trade) and at -0.0123% for holding a short position of BTC/USD (a sell trade). We consider these financing fees to be below the average when compared with the rates offered by other top crypto brokers.

Deposits/Withdrawals and Other Fees

  • Deposit fees: Trading accounts can be opened in 7 different currencies and maintained via 1 funding method - cryptocurrencies sent to the clients' wallets. CryptoAltum does not accept deposits via bank wires, debit and credit cards, or any fiat currencies, only cryptos. CryptoAltum does not charge any fees for deposits (please note that blockchain network fees are not covered by the broker).

  • Withdrawal fees: CryptoAltum processes withdrawals 24/7, and most payments are instant - subject to the cryptocurrency's network times. Investors can enjoy unrestricted, anonymous blockchain withdrawals, and again, CryptoAltum does not charge any fees for withdrawals (please note that blockchain network fees are not covered by the broker). For more information, please visit the CryptoAltum deposit and withdrawals dedicated web page.

  • Inactivity fee: Currently, CryptoAltum does not charge an inactivity fee or account maintenance fee.

Good to know:

CryptoAltum accepts deposits in Bitcoin (BTC), Cardano (ADA), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH) and Tether (USDT) - both USDT-Omni and USDT-ERC20 accepted.

All deposits will be available in the user's Members Area as soon as CryptoAltum receives two confirmations from the blockchain. Timing will vary on the sent cryptocurrency, however, usually takes no longer than two hours.

CryptoAltum supports BTC withdrawals to any Native SegWit (addresses beginning with bc1) or Legacy SegWit (beginning with 1 or 3) address.

CryptoAltum does not request any documents before processing a withdrawal, however in the case of a withdrawal(s) with a value over $5,000, the broker may request a copy of the user's ID. The broker can also request a copy of the user's ID in the case of multiple account registrations.

CryptoAltum process withdrawals 24/7 and will aim to process a withdrawal request within 1 to 2 hours. Please note, that sometimes withdrawals may take up to 24 hours to process if further checks are required.

Popularity

4.0 


Forex Education Deposit Options Deposit/Withdrawals Fees Non-expiring demo account Customer Support
Calculators
Blog
Market news
Economic calendar
Crypto wallets ✔️ Multi-language
24/5 Support
Live Chat
Email

Established in 2019, CryptoAltum aims at changing the way retail investors (and professionals, also) trade cryptocurrencies. The broker is one of the largest crypto CFDs providers in the world, championing client funds safety, privacy and anonymity.

The company has offices in two continents, in Cyprus, where the back-office is and where all the company dynamics happen and in the Marshall Islands, for obvious reasons. CryptoAltum strives to provide the best possible crypto trading experience to clients, by offering the lowest spreads in the industry. And the broker's core values are tightly aligned with that vision.

CryptoAltum is nonetheless a popular crypto broker amongst traders for the variety of instruments available for trading, its excellent pricing and trading costs, merged with super-fast STP (Straight-to-Processing) execution speeds.

The CryptoAltum Standard account (MT5) is a popular choice with traders looking to save on trading costs, with a lower spread and zero trading commissions (including FX, indices and commodities). Of course, CryptoAltum also gets some extra popularity points for its policy of zero fees on deposits and withdrawals.


Funding Methods Crypto Wallets: Bitcoin (BTC), Cardano (ADA), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH) and Tether (USDT) - both USDT-Omni and USDT-ERC20
Support Languages English, Japanese


  • Minimum deposit: Opening a trading account with CryptoAltum couldn't be easier and it can all be done online, taking around 2 minutes. CryptoAltum minimum deposit, to activate a live trading account, is $100 equivalent to the chosen account base cryptocurrency.

  • Customer support: CryptoAltum's multi-language customer support service is available 24 hours, 5 days a week, in 2 languages. CryptoAltum's support is available via email and through the live chat widget directly on the broker's website.

Broker Profile

CryptoAltum is a crypto CFDs broker with one of the largest selections of cryptocurrencies crosses (and Alt-coins) available for trading in the world, providing investors instant access to crypto of global markets, via its STP execution model.

CryptoAltum strives to offer the best possible trading experience by constantly improving its next-gen MT5 trading platform, following the latest trends and solutions. The broker offers the highest leverage (up to 500:1) and the lowest spreads for crypto trading (from $1.75 for the BTC/USD) found anywhere. With instant account opening and no KYC, secure funding direct from the user's crypto wallet, and fast and anonymous withdrawals 24/7, the broker's ambition is to revolutionize the way investors trade cryptos.

In just over two years of activity in the crypto markets, CryptoAltum has earned the trust of several thousand customers around the world, not only for its competitive trading costs, but because it is a real alternative to other top brokers and exchanges, and the leading choice for crypto CFDs traders globally.

Moreover, CryptoAltum has in place strict security protocols to ensure client funds safety and also lets investors trade, not only cryptos but also forex, gold and indices in one single account. The broker also boasts a track record of 100% trade executions, with no partial fills, on an STP processing model, meaning that trades are executed with no dealing desk (NDD) intervention of any kind.

Overall, on our CryptoAltum review, this crypto broker scores a neutral 3.0 out of 5.0 as it is a great choice for traders looking to diversify their portfolio with dozens of cryptocurrencies crosses, but, mainly, because of the competitive spreads and the overall cost of trading - zero trading commissions and zero deposit and withdrawals fees. Affecting CryptoAltum's overall score is its corporate choice of being an unregulated broker - we guess it's a small price to pay to be able to provide a higher leverage limit, and absolute privacy and anonymity, to clients.


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