Cryptoaltum.com Exchange Review:  Is A Safe Exchange or a Scam?

About Cryptoaltum.com

Cryptoaltum.com is an MT5 broker with a focus on crypto trading. Additionally, it also offers trading in FX, Gold and Indices. The exchange is operational from 2020 and is registered in the Marshall Islands. Its trading servers are located in London, Germany, Japan and Singapore.

MT5 stands for MetaTrader 5. It is a trading platform that allows its users to see charts, view live price changes, and access a variety of markets The trading robots a.k.a. Expert Advisors are a big feature of MT5.

Operating Company 

How To  Start With Cryptoaltum Cryptocurrency Exchange

To Start Trading With Cryptoaltum Cryptocurrency Exchange Indian Residents First Have To Sign Up For An Account By Following The Steps Below.

Step 1. Click On The “Login/Signup” Link On The Top Right Hand Corner Of The Cryptoaltum Exchange Website.

Step 2. In The Form, Fill In Your First Name, Last Name, Mobile Number, Email ID And Password.

Step 3. If You Have A Referral Code, Enter The Code While Creating Your Account.

Step 4. Submit The Form And Wait For An Activation Email To Be Sent To You.

Step 5. Click On The “Confirm Email” Link In The Activation Email.

Step 6. After Your Account Is Activated, You’ll Be Sent A 6 Digit One Time Password (OTP), Which You Have To Enter After Logging Into Your Cryptoaltum Cryptocurrency Exchange .

Trading Fees

Cryptoaltum.com does not charge any taker fees or maker fees on its platform, as most centralized cryptocurrency exchanges do. Instead, the platform levies a ‘Spread fee’.

Crypto Spread at CryptoAltum

Let’s start with explaining what a “spread” is. Spreads are the main fee of any CFD Trading Platform. In essence, it can be compared to taker and maker fees at centralized crypto exchanges. It is the mark-up or mark-down charged by the platform when you purchase a certain crypto or crypto CFD. So if the price of the relevant crypto is USD 100, and the spread is 1%, the buyer can buy the crypto or crypto CFD on the trading platform for USD 101 (or sell it for USD 99).

The difference between the sell price and the purchase price (USD 1 in this case), goes to the trading platform. They have asked for more information about the spreads charged by CryptoAltum and they are currently waiting for a response from them.

Deposit and Withdrawal Fees

Another area where many exchanges hit you with a fee is when you withdraw, but once again CryptoAltum does great here. They do not charge any commission for depositing nor for withdrawing.

Accordingly, the only fee you have to think about when withdrawing are the network fees. The network fees are fees paid to the miners of the relevant crypto/blockchain and not fees paid to the exchange itself. Network fees vary from day to day depending on the network pressure. In general though, only paying the network fees should be considered as below the global industry average when it comes to fee levels for crypto withdrawals. 

Tokens Available

Cryptoaltum.com supports over sixty trading pairs. This is a moderate number. Many exchanges only have twenty or so, while others have around 200. Something important to keep in mind here as well is that they do not support fiats. However, you can trade in gold and silver.

Because this is a CFD trading platform, you will not actually own any of these assets, but rather contracts on their price changes. This derivative trading is the latest trend in financial markets over recent years. 

Why Choose CryptoAltum.com

Highly Secure Wallet

User funds are held in cold storage across four different locations to ensure heightened security. The company’s internal policies dictate that e-wallets are Multisig (wallets that need multiple signatures to gain access).

The CryptoAltum App

Users can access the trading portal from multiple platforms like mobile, tablet, desktop and browser interfaces. However, there is no CryptoAltum app at this point in time. You can visit the site on your mobile device, and it will automatically adjust. 

Customer Support

Potential traders need to make sure the broker company they chose will offer sufficient support whenever they need it. In the case of CryptoAltum.com customers can reach the support team by means of email and live chat, which are available 24 hours a day, 7 days a week via WhatsApp, messenger, telegram and Line.