CryptoAltum promises the lowest commissions ever, permanent bonuses, and other attractive trading conditions. The broker assures that traders from 120 countries trust it. However, we didn’t notice anyone praising it in the reviews. Let’s check if the company really deserves attention or if it is another scam.
- CryptoAltum General Information
- Registration and Client Portal Review
- CryptoAltum Trading Conditions
- Account Types Review
- Trading Platform
- CryptoAltum — Deposit and Withdrawal of Funds
- Additional Options
- Is CryptoAltum a Scam?
- Legal Information and License
- Cryptoaltum.com Domain Info
- Contacts Review
- More Details
- Pros and Cons
- Frequently Asked Questions (FAQ)
CryptoAltum General Information
|Address||Trust Company Complex, Ajeltake Road Majuro, Ajeltake Island Republic of the Marshall Island, MH96960|
|Trading Platform||MetaTrader 5|
Registration and Client Portal Review
At first glance, the official website of CryptoAltum seems bright and unique. However, this only applies to the main page. The other sections and content on the site are pretty standard. The broker talks a lot about itself, or rather, about its accomplishments. At the same time, it does not disclose enough important information about the management company, trading conditions, etc.
To register on the site, you will need to fill out a small form with personal data:
- Full name
- Email address
- Country of residence
- Phone number
You also need to read the user agreement and follow the confirmation link that will come to your email.
In the Personal Area, you can:
- Fund the account
- Download the trading terminal
- Make changes to the profile settings
- And communicate with the support service manager.
CryptoAltum Trading Conditions
CryptoAltum offers CFD trading not only for cryptocurrencies but also for other types of assets. These include indices, currencies, gold, etc.
Account Types Review
CryptoAltum owners know the nuances that turn ordinary trading into an ideal one. These are low commissions and optimal leverage. The broker has only two types of accounts, each of which corresponds to a certain type of investor. Let’s look at their characteristics closer.
|Name||Amount||Leverage||Fees||Welcome bonus||Type of execution|
Apparently, the first type of account is suitable for less experienced clients who do not want to take risks and make a small deposit. However, there is too high leverage for cryptocurrency trades. Beginners can lose their entire deposit in just a couple of clicks.
For those who want to diversify their portfolio across a wide asset class, it is worth choosing a second account. Unless the minimum deposit here is quite high. So none of the account types are really super-convenient.
At least there are no complaints about the trading platform. CryptoAltum suggests using the MetaTrader 5 terminal. It is convenient for customers and allows them to make transactions in a few clicks. Besides, there is a fairly wide set of indicators and many additional useful functions. For example, the ability to connect a robot adviser.
CryptoAltum — Deposit and Withdrawal of Funds
The variety of ways to deposit in the account is poor. On the site, you can only fund your account in cryptocurrency. Obviously, you can withdraw money using the same methods. It is a pity that CryptoAltum did not take care of other ways. Such anonymity does not add points to the broker.
The company claims that it does not require verification of customers. This should be done only if the trader wants to withdraw more than 5 thousand dollars from the account. It is very strange that CryptoAltum has such low requirements. Most likely that means both the absence of a license for brokerage services and non-participation in the AML policy.
CryptoAltum offers passive income in an affiliate program. The commission amount is 30% of the referral’s deposit. Participation in the program can be combined with active trading.
In the blog section, you can also find an education center. In small articles, the broker briefly introduces traders to the features of cryptocurrencies. Unfortunately, this is of little use in trading on this site. Anyway, you will not buy real cryptocurrency here. CryptoAltum only offers CFDs.
Is CryptoAltum a Scam?
The broker’s trading conditions are not too favorable. Besides, it seems to us that it does not care so much about the safety of its customers. Let’s see if we can trust it.
Legal Information and License
CryptoAltum writes that its management company is registered in the offshore zone of the Marshall Islands. There is a legal entity Techcraft Ltd, in the registry. The company was created in 2019. Unfortunately, the registry of this jurisdiction is quite poor in information. We can only see that the company is still active.
However, there is a big disadvantage for traders. CFDs and Forex brokers are not licensed in the Marshall Islands. The local regulator simply issues such companies a certificate of incorporation. Of course, there are non-state regulators in this small country. To get membership in them and some kind of certificate, brokers just need to deposit a certain amount of money. However, CryptoAltum didn’t even bother to do that.
Cryptoaltum.com Domain Info
The founders of CryptoAltum do not disclose the dates of the broker’s appearance. Judging by the reviews, it has been working since not so long ago. The domain was registered in 2019. As we have already said, a management company was also created at that time. However, the web archive has kept the first pictures since mid-2020. In any case, 2 years of work is too little to reach the world level. Of course, CryptoAltum exaggerates when it talks about its leading positions.
The broker leaves only email for communication. You can also write to the manager in your Personal Area. The office address is on the website. However, you should understand that there is no real CryptoAltum headquarters. Dozens of offshore online brokers are registered at this address.
Users on the Reddit portal complain that here funds can only be deposited using cryptocurrency. There are no other methods at the moment, and it is not known when they will appear. Unfortunately, scammers usually choose this way. Transactions with digital assets are anonymous and non-refundable.
Pros and Cons
- Two types of accounts.
- Low minimum deposit.
- Short term of work.
- Offshore registration.
- No license.
- Poor trading conditions.
- Negative reviews.
Frequently Asked Questions (FAQ)
CryptoAltum is a broker that offers to trade in CFD for different types of assets, mainly cryptocurrencies.
According to the broker’s terms, you can choose between two accounts. In the first one, you can only trade cryptocurrencies. The minimum deposit here is $100. In the second, you can trade CFDs on other assets. However, the account will need to be deposited at $500.
The broker offers to trade in the MetaTrader 5 terminal.