CryptoGT Review – A trustworthy crypto brokerage?

One of the biggest challenges every trader faces is choosing a brokerage. Whether you’re a Forex aficionado or a Hodler, the importance of a trustworthy trading partner can hardly be overestimated.

A trustworthy Forex broker can positively impact your trades; it can deliver some of the best tools and features to increase the lucrativeness of your trades and minimize losses as much as possible. On the other hand, there are scam brokers that do nothing more than trick clients into opening accounts with loads of false offerings and big requirements, which eventually ends with nothing more than a robbery.

So, you want to be careful when choosing a broker. To contribute something in that process, we have decided to prepare the CryptoGT review where we take a look at everything important offered at the broker’s website. So, let’s not waste any more time and get right to the review.

Initial CryptoGT review

CryptoGT, as its name suggests, is mainly a cryptocurrency trading brokerage. It was established in 2019, and it serves as an STP no dealing desk broker.

Upon checking out the website, we were positively surprised by how well the overall design looks and feels. We’ll discuss this further down below but for now, let’s just say that the color scheme works great for this website.

Besides that, it’s pretty easy to find information about pretty much anything, whether it’s the information about available instruments, commission rates, or trading platforms. This speaks volumes about how transparent the broker is, which creates some sense of safety.

When it comes to the account offerings, CryptoGT is a little bit limited, offering only one Standard account to its clients. However, with its flexible requirements and lucrative features, you won’t feel limited at any point of your interaction with the broker. Besides, you can always go for a demo account, which lets you practice your newly-learned skills in a virtual market.

When it comes to the trading platform, CryptoGT couldn’t feature more powerful software than MetaTrader 5. This platform features high-powered technical and fundamental indicators, as well as multiple charting types and many timeframes, all of which help you better predict price movements and increase your chances of profit in the market.

After the software review, we’ll move on to the discussion about the CryptoGT regulation. Now, right off the bat, we should point out that the broker doesn’t have a traditional type of licensing, which raises some questions. However, when we dive a little deeper into the legal section, we’ll find out that CryptoGT features top-tier banking and account handling features, as well as many fund protection mechanisms.

Finally, our review will explore various trading terms and conditions on CryptoGT’s website. As this initial overview shows, CryptoGT isn’t just a crypto trading broker; it also offers financial assets from other markets including Forex, commodities, and indices.

The maximum leverage you can get with this broker goes up to 1:500, whereas the minimum spreads go as low as 1.4 pips, both of which are pretty lucrative features. CryptoGT also allows scalping and hedging strategies, making sure that every type of trader will find this platform useful in their own terms.

One specific limitation this platform has is the diversity of payment methods. While CryptoGT offers 17 different cryptocurrencies to deposit and withdraw funds, there are no other types of methods, be it credit cards or bank wire. However, whatever it lacks in CryptoGT withdrawal/deposit methods, it pays up with other conditions which we’ll discuss below.

So, if you want to know more about the trustworthiness of the CryptoGT broker, make sure to read this review in full.

The website and software support

Let’s kick off our in-depth review by taking a look at the website and its design. As noted earlier, we actually really liked the design decision the broker made. The combination of aqua and light blue colors with rich wallpapers seemed nice for us, and it doesn’t even downplay the informative aspect of the website.

Speaking of information, we didn’t have a hard time finding any of the important details such as the license, spreads, or the year of establishment. It was also quite easy to determine which assets you can trade with CryptoGT, as well as how much leverage you can use and whatnot.

One limitation of the website is that it only offers one account. It’s not the most flexible platform if traders cannot choose their preferred trading conditions via a variety of accounts. However, if you look closely, you’ll notice that the features the only Standard account offers are quite flexible, whether it’s the $5 minimum deposit, 1:500 maximum leverage, or 1.4 pip spreads.

When it comes to the trading software, the CryptoGT Forex broker has one MT5 platform that is available for desktop, browser, and mobile platforms. This is a platform no one can complain about, simply because it is a widely known fact that MT5 is far better software to use for asset classes other than Forex pairs. Besides, the CryptoGT MT5 features tons of other functionality, whether it’s technical/fundamental indicators, charting mechanisms, or expert advisors.

Can CryptoGT be trusted for its license?

The second important segment of our review is licensing. We always stress that a trustworthy broker can usually be found with only the examination of its license; it provides information about where the broker was registered, which financial rules is it following, and how strictly those rules are enforced.

While the regulation of a Broker provides a good indication of the standardization of processes and security requirements, sometimes a broker, regardless of its regulation may placed internal systems, procedures, and best practices that mitigate the risk that relate to traders. We feel that CryptoGt is one of these cases.

If we were to examine CryptoGT, with regards to license & regulation, we would not think highly of it. The broker points out that it was registered in Majuro, the Republic of the Marshall Islands; it even provides the number of registration. However, when it comes to the actual regulation, there’s no mentioning of any specific license.

With that in mind, however, we dug deeper into the platform. And what we found goes against the above-mentioned method: CryptoGT does actually feature various security features that protect your funds in the market. These measures include negative balance protection, account segregation, and customer insurance fund.

In all honesty, we only look at regulations to see how well a broker protects your safety in the market, and as CryptoGT proves with its offerings, that’s exactly what you’re getting on its platform. Therefore, it’s pretty safe to say that CryptoGT is a reliable brokerage.

Are trading numbers real?

The final piece of this review is trading terms and conditions. We’ll start by reviewing trading instruments. As the name suggests, CryptoGT is mainly a cryptocurrency trading platform and offers over 50 different crypto pairs.

However, there are also other asset classes like Forex pairs, shares, indices, and more. And as noted earlier, this level of diversity is always beneficial to traders. If they decide to incorporate multiple non-correlated assets into their portfolios, they’ll have much more stable sessions when trading.

The leverage that comes with crypto pairs, as well as Forex pairs, can go as high as 1:500. What this means is that if you, for instance, make a deposit of 5 USD on your account, you’ll be able to open a position for 2,500 USD, which is already a pretty significant trading capital.

However, it’s also worth mentioning that the leverage this high can be dangerous. To get a better idea of why this is so, you should keep in mind that leverage acts as a double-edged sword whereby it increases both profits and losses. Besides, crypto pairs always come with the maximum leverage of 1:50; 10 times higher multiplication rate is very dangerous to the safety of the traders’ account balance.

But worry not, because CryptoGT has negative balance protection in place. What this means is that if your leveraged position runs out of your account balance, the trade will stop immediately, saving you from even more destructive losses.

As for spreads, we found out that CryptoGT features the minimum spreads of 1.4 pips, which is a pretty decent and acceptable commission rate for any type of trader. Besides, the minimum deposit requirement to open up a trading account and get started with CryptoGT is as little as $5, which means pretty much anyone can trade with this broker, not to mention the fact that the only other commission than spreads is an inactivity fee. If you leave your account inactive for a month, you’ll be charged $10.

Other than that, there are no other commissions for you to pay, and CryptoGT makes sure you’re getting the best possible service. To further bolster that appeal, you can get CryptoGT promotions as well. On the website, we found a 50% Welcome bonus, which is credited to your account the moment you make a deposit.

Finally, let’s talk about financial platforms. As noted earlier, CryptoGT is a bit limited with deposit and withdrawal options; there are 17 different cryptocurrencies you can use for payments, however, there are no other payment methods. With that being said, though, the broker completely removes transaction fees from its platform, regardless of whether you’re making deposits or withdrawals. On top of that, the transaction times themselves have been reduced significantly. Both deposits and withdrawals are usually executed instantaneously.

Ultimate CryptoGT rating – Should you trust the broker?

So, after everything we’ve just said about this broker, is it worth investing your time and money into CryptoGT? Well, let’s round everything up:

CryptoGT is a crypto trading broker that offers assets in Forex, stocks, and other markets. The Cryptogt.com review has shown that the broker has a decent-looking website with pleasant color schemes, as well as loads of information about how trading is done on this platform.

Software support is also impressive; you can trade cryptos, stocks, and Forex using the powerful MetaTrader 5 software. It’s filled with useful indicators, charts, and other pieces of software that contribute to your overall profitability in the market.

Then we reviewed the license and found out that while there’s no governmental license in place, CryptoGT does offer you tons of useful fund protection mechanisms. These include negative balance protection, account segregation, and customer compensation fund.

Finally, we examined all the important trading terms and conditions, and determined that CryptoGT’s commission rates, as well as leverage and bonus offerings are more than lucrative for any type of trader.

In short, there’s nothing standing in your way to trade with this broker. It’s a reliable service provider with beneficial trading features and software.