Since its founding, the cryptosphere has expanded at a very rapid pace and has a profound influence on the world’s financial trajectory.
And, leading the change from the forefront is the crypto exchanges and platforms through their innovation in the segment and new product offerings. It has helped the market to mature and attract more people into this new ecosystem.
In this article, we will review one such platform, CryptoAltum, a new generation crypto trading platform, that aims to change the face of crypto trading with its advanced features and functionalities.
Therefore, let’s review CryptoAltum, and check out whether it is a suitable trading platform for you or not.
CryptoAltum Review 2021
CryptoAltum is a newly launched crypto CFD trading platform and allows to trade on the popular and innovative MT5 platform. It was established in March 2020 and registered in the Marshall Islands.
It offers to trade in a wide range of cryptocurrencies, as well as, traditional financial instruments like forex, commodities, and stock indices with higher leverage.
CryptoAltum is designed to meet the evolving needs of the modern traders, who want to profit from the volatility in all types of assets using a single platform. And, the presence of all advanced trading functions like hedging, scalping, EA trading, ECN/STP, etc makes it a preferred platform for trading.
Leverage Offering, Supported Cryptocurrencies & Contracts
CryptoAltum offers the highest leverage across all asset classes and cryptocurrencies, without any distinction. It offers maximum leverage of up to 500X on all contracts which is the highest in the market.
It supports 12 different cryptocurrencies including BTC, ETH, LTH, XRP, DSH, BCH, EOS, XMR, ADA, BNB, BSV, and TRX. And, allows trading in over 60 crypto pairs including both crypto-to-crypto and crypto-to-fiat pairs.
You should note, CryptoAltum is a commission-free trading platform meaning there is no trading fee on buy and sell trades. However, it places a maximum and minimum contract size on every market. For example, the BTC/USD contract has a minimum and maximum lot size of 0.01 and 50 units respectively. Similarly, LTC/USD has a minimum and maximum lot size of 6 and 400 units respectively.
CryptoAltum has integrated the popular MT5 platform, which is specifically optimized for cryptocurrency trading. As you should be aware, MT5 is the most advanced and high-performance trading platform suitable for high-frequency trades. That’s why they are the ONLY broker who has done this and thus being able to offer base currencies in crypto and also offer such an extensive array of crypto products.
The platform also doesn’t restrict you to depend on built-in analytical tools and resources but also enables you to create your own technical indicators using MQL5 language. Some of the other advantages of CryptoAltum MT5 are:
- Lightning-fast order execution
- Level 2 market depth,
- Advanced pending order types, and
- Advanced EA coding using MQL5
It provides a wide range of trading tools and indicators for advanced analysis of price movement. You can install numerous templates according to your preferences and trading style.
Overall, the trading interface is very smooth and there is no lag in the platform.
How to Start Trading on CryptoAltum
The whole registration and installation of the MT5 platform is smooth and is completed within minutes. Since it is a no-KYC platform, the registration process is very straightforward.
The sign-up process doesn’t require any documents to be uploaded. Click on the “Register Now” button present in the top right corner of the website. Fill up the online form by providing your full name, email id, and password.
After successful verification, you will be redirected to the client portal. Before continuing, you need to select your base currency and default leverage level.
You can deposit funds at this stage, or skip the process for later. Now, proceed to install the MT5 platform.
- Trading on the MT5 platform
After logging into the MT5 platform using the user id and password provided by CryptoAltum, you can either select the “Demo” or “Live” trading account.
So, in the demo environment, you don’t need to worry about deposits, but in the live trading environment, you need to have a positive wallet balance before placing your first trade.
You can deposit funds only in BTC, ETH, LTC, BCH, XRP, and True USD. The whole process is quite flawless and simple.
Select the e-wallet on which you want to deposit funds. Scan the QR code with your phone or enter the given wallet address to your wallet to complete the fund transfer. You can now manually transfer your wallet balance to your MT5 trading account.
The minimum deposit limit is 0.01 units for all coin types, except True USD, where the minimum deposit is 1 unit.
CryptoAltum currently offers a 100% deposit bonus, the amount which will be credited to the MT5 trading account once the transfer has been made.
To facilitate smooth trading, CryptoAltum provides access to three tools, Leverage Margin Calculator, Real-time Margin Calculator, and Crypto Converter
Leverage margin calculator allows you to know the maximum leverage you can get on your trade based on the lot size, account type, or on different leverage levels.
The real-time margin calculator helps you to calculate Effective Margin, LossCut Line, Maintenance Margin, and Margin level based on your account balance, trade lot size, leverage used, and order type (buy/sell).
Using the crypto converter, you can quickly convert the real-time value of any cryptocurrency to any other cryptocurrency and fiat currency.
CryptoAltum has a 24/7 online support desk and offers instant assistance through the live chat feature on the website, Whatsapp, Telegram, and Messenger.
You can also write to them at email@example.com.
As CryptoAltum offers to trade in only CFDs and it might not be suitable for every kind of trader. CFDs are a highly leveraged product and carry a high degree of risk.
CFDs facilitate higher profits with a small investment, so the chances of losses are also higher. The potential loss may be higher than your initial investment in some cases.
There may be cases when your stop-loss order may not get executed or get executed at unfavorable levels due to market volatility and gapping. This can lead to huge losses but CryptoAltum is one of the few brokers however to offer guaranteed negative balance protection.
Therefore, while trading crypto CFDs on CryptoAltum, you should always weigh your risk-reward ratio, and place trades as per your risk appetite.
CryptoAltum turns out to be a pretty exciting platform and has successfully managed to tick all the boxes a high-frequency trading platform needs.
The platform is suitable for professional traders, who are well aware of the risk-reward factors involved in CFD trading and possess the ability to manage risks.
Let’s check out some of the many benefits of using CryptoAltum:
- Supports a wide range of trading assets
- Higher leverage
- Level 2 market depth
- Highly stable MT5 trading platform
- Advanced tools and functionalities
- Commission-free trading environment
- No KYC verification required
- Simple and fast account registration process
- Good customer support
Unlike many other crypto exchanges, CryptoAltum is a perfect broker for you with 24 x 7 trading of 50+ popular crypto pairs to trade along with Gold, Forex, and popular equity indices.
- How To Make Money On Bitcoin’s Volatility With PrimeXBT’s Covesting? - August 9, 2021
- Ledger Nano X Review: Is it worth buying in 2021? - June 6, 2021
- PrimeXBT’s Covesting Yield Accounts Are Coming !!! - May 6, 2021