CryptoAltum Review

Is CryptoAltum Scam or Legit Broker?

No CryptoAltum is not considered a reliable company. The broker is registered in the Marshall Islands. However, the broker doesn't have a reliable license from a top-tier authority. This means that engaging in trading with them could jeopardize investors' funds.

• While there may be exceptions, unregulated brokers generally pose higher risks to investors compared to regulated companies, and investors should exercise caution when dealing with them. It's advisable to trade with brokers that are regulated by reputable authorities, as they are held to higher standards of conduct and financial accountability.

What is CryptoAltum?

CryptoAltum, a relatively recent CFD broker, operates from the well-known offshore jurisdiction of the Marshall Islands. The broker places significant emphasis on trading cryptocurrency CFDs, offering exceptionally high leverage of up to 1:500. Their selection comprises over 60 pairs of various cryptocurrencies traded against major fiat currencies like the US dollar, Japanese yen, and euro, as well as against other cryptocurrencies. However, traders have also access to other assets, such as foreign currency pairs, major stock indices, and gold. 

Further research has revealed further insights into CryptoAltum's operations, providing a more comprehensive understanding of the broker.

• No regulation:  It is crucial to approach trading with CryptoAltum with caution, especially considering it operates as an offshore broker registered in the Marshall Islands and lacks regulation. The absence of regulatory oversight exposes traders to increased risks, such as a potential lack of fund protection, transparency issues, and limited recourse in case of disputes or malpractice. Given CryptoAltum's unregulated status, investors should carefully assess these risks before participating in any trading activities with the company.
• Market Manipulation: Forex manipulation undermines the integrity and fairness of the currency markets, diminishes trust among market participants, and can lead to significant financial losses for investors. For instance, financial institutions or traders execute trades on behalf of clients with advanced knowledge of pending orders that may impact market prices. They use this information to place their own trades first, profiting from subsequent price movements.
• Client Feedback:  CryptoAltum client reviews present a mixed picture. While some clients offer very positive feedback, others express concerns about the broker's regulation, customer support, withdrawal process, and excessively high spreads on certain instruments, like bitcoin.
• Withdrawal Issues:  One of the most common issues encountered in trading is insufficient withdrawals. In fact, withdrawals are among the most critical aspects of trading, and neglecting their significance could lead to loss of investments and profits. Therefore, we strongly advise exercising caution when entrusting your investments to an unregulated broker with negative client reviews.

Overall FXCL Ranking

After conducting a comprehensive investigation, we have uncovered significant concerns regarding CryptoAltum's trustworthiness and commitment to regulatory compliance. Consequently, we are unable to provide a positive rating for CryptoAltum at this time. Traders should exercise caution and consider exploring alternative options that prioritize transparency, regulatory adherence, and the protection of client interests.

• CryptoAltum Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers. See Our Ranking below compared to other popular and industry-leading Brokers.

CryptoAltum Alternative Brokers

Due to the safety issues associated with CryptoAltum, we highly recommend exploring alternative options that prioritize strict regulatory measures and improved trading conditions. Below is a list of reputable brokers offering trustworthy choices and a secure trading atmosphere for your evaluation:

• XM – Excellent Educational Materials
• FXTM – Good for Beginners and Good Fees
• InteractiveBrokers – Good for US Trading and Trading of Real Stock

Deposits and Withdrawals

CryptoAltum only accepts deposits in cryptocurrencies. The broker accepts deposits in Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), Tether (USDT) - [ERC-20 & TRC-20], Bitcoin Cash (BCH), Litecoin (LTC) and TrueUSD (TUSD). The minimum deposit requirement is $100 or its equivalent in cryptocurrency. CryptoAltum does not charge any deposit fees. 

• All deposits become available in the trader's Members Area as soon as the broker receives two confirmations from the blockchain. 
• CryptoAltum does not charge any fees for withdrawals. There is a minimum withdrawal money that vary depending on the cryptocurrency.

Account Types

CryptoAltum provides traders with two account types: CryptoAltum ECN and CryptoAltum Standard. The minimum deposit for both account types is $100. The broker also offers high leverage for both options, with ratios reaching up to 1:500. Commissions for the ECN account is $35 per $1M (Forex) and $350 per $1M (Crypto). Standard accounts do not impose any commissions. There are no deposit or withdrawal fees. The base currencies for CryptoAltum ECN and Standard accounts are BTC, and JPY. 

CryptoAltum Review Conclusion

Considering the information collected about CryptoAltum, it is evident that this broker offers enticing advantages with favorable features and trading conditions. However, it is crucial to address significant concerns regarding the broker's trustworthiness and credibility. The fact that CryptoAltum is registered in an offshore jurisdiction, namely the Marshall Islands, and lacks any license from a reputable authority raises substantial red flags. Therefore, traders are strongly advised to exercise caution when contemplating this broker as their choice.

Traders should prioritize brokers that hold licenses from reputable authorities such as FCA, ASIC, or CySEC. Numerous regulated brokers provide favorable terms and conditions that adhere to the standards established by top-tier regulations, ensuring a safer and more secure trading environment. Some of the options are Fortrade, HFM, and Interactive Brokers.

• Overall ranking and experience for the CryptoAltum is Negative