Cryptocurrency Exchange

Review of CryptoGT: Is CryptoGT a Viable Option?

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Choosing a brokerage is one of the most difficult tasks any trader has. Scam brokers prey on unsuspecting consumers by luring them into creating accounts with a plethora of false promises and high minimum deposits, which ultimately amounts to nothing more than a heist.

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As a result, you must exercise caution while selecting a broker. To help with that procedure, we’ve chosen to write the CryptoGT review, in which we look at everything vital available on the broker’s website. So, without further ado, let’s get right to the review.

Overview

Legal NameHatio Ltd.
HeadquartersMajuro, Marshall Islands
Year Founded2017
Trading Fees0% Deposit and Withdrawal fees
Deposit MethodsCryptocurrency
Supported CryptosBTC, BCH, ETH, DSH, LTC, XMR, XRP, ADA, USDT, NEM, PAX, TUSD, GUSD, USDC, ZEC, EOS, XLM
Customer Service24/7 Support, Email, and Live Chat
Trading InstrumentsCrypto, Forex, Precious Metals, Indices, GTi12 Index

What is CryptoGT?

Crypto GT is one of the first Crypto brokers in the financial industry, offering access to 6 CFD asset classes – traditional and innovative – including Forex, Metals, Indices, Cryptos, and two exclusive – Synthetic Cryptos and GTi12 Index, making the company stand out from other brokers. Synthetic pairs combine the BTC with an FX or CFD instrument, making this asset class adaptable for both FX and Crypto traders. The GTi12 Index is made up of 12 cryptocurrencies, taking into consideration their market cap, ranking, and liquidity, amongst other factors.

Clients of Crypto GT are offered 24-hour trading on certain asset classes, zero transaction fees on deposits and withdrawals, availability of several Crypto account base currencies, and 24/7 support from its multilingual team.

Crypto GT strives to be the leader in Crypto trading by offering competitive trading conditions and pricing on its MT5 platform, with ongoing generous promotions, that novice and experienced clients can benefit from.

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How to Set Up an Account on CryotoGT?  

Step 1: Visit the Official website. Click on the “Register” Option.  Enter your First Name, Last Name, Country, Phone (optional), Email, and Password.

Step 2: Take the verification code from the sent email and copy it into the verification page to complete the sign-up.

Step 3: You will then be prompted to set up two-factor identification through an authenticator app to get started.

Features of CryptoGT

  • E-WALLETS: Maintain a clear image of your assets by storing your Cryptos in various wallets.
  • ACCOUNTS FOR TRADING: Open Demo or Live Trading Accounts in any of the supported cryptocurrencies in a matter of seconds.
  • DEPOSIT: Transfer Cryptos from your exchange or personal wallets in real-time.
  • WITHDRAW: You can withdraw money from any of your accounts at any time. Transfer money between your Trading Account and your eWallets.
  • HISTORY OF THE FUNDS: After logging in to the Client Portal you can click on the “History” button then “Transactions”, where you will be able to view Deposits, Withdrawals, Transfers combined all choose one of those categories to view only you want to view.
  • ASK FOR HELP IF YOU NEED IT: If you have any issues, please contact us at [email protected]
  • AUTHENTICATION WITH TWO FACTORS: Using Google Authenticator, enable two-factor authentication. Boost the safety of your account.

How can I deposit funds into my account?

In order to deposit funds, you must first log in to your Portal. Then follow either of the below options:

Option A

1. Within your Portal, click on the ‘Wallets’ button.

2. Select the currency you wish to deposit funds into and click on the ‘Deposit’ button.

3. If you are provided with more than one Deposit method to deposit in, choose your preferred deposit method and click on ‘Proceed’.

4. Complete the additional steps requested.

Option B

1. Within your Portal, click on the ‘Funds’ button and then on the ‘Deposit’ button.

2. Select the currency you wish to deposit funds into.

3. Choose your preferred deposit method.

4. Complete the additional steps requested.

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How do I withdraw money from my account?

Firstly you would need to have funds in your wallet to be able to withdraw. If your funds are in your trading account, first transfer the amount you wish to withdraw into your ewallet so you will be able to process your request. From there you can request to withdraw and send the funds into an e-wallet of your choice. This request comes through to our back-office department for it to be approved and sent to you.

Currencies Available to Trade on the Platform

The currencies available to trade on are BTC, BCH, ETH, DSH, LTC, XMR, XRP, ADA, USDT, NEM, PAX, TUSD, GUSD, USDC, ZEC, EOS, XLM

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CryptoGT Mobile App

CryptoGT offers a native mobile app called MT5 mobile app, free of charge. The app allows you to trade, access your wallet, fund your account, receive notifications, and check your transaction history.

Is CryptoGT Secure for Investors?

CryptoGT is a cryptocurrency broker platform with assets in the forex, stock, and other markets. 

The software support is also outstanding; you may use the robust MetaTrader 5 platform to trade cryptos, stocks, and Forex. It’s chock-full of important indicators, charts, and other tools that contribute to your overall market profitability.

Terms and Conditions

The real trade terms and conditions are the final component of our puzzle. Many traders make the mistake of choosing a brokerage solely based on trading numbers. Frequently, the broker is able to deceive them with its showy conditions and lure them into a financial swindle. As a result, when looking at numbers, extreme caution is required.

Let’s start with the instruments offered by the CryptoGT. The main traded instruments are cryptocurrencies, as the name implies, and there are over 50 different crypto pairs to pick from. However, we still classify it as an FX broker because it offers several currency pairs in addition to stocks, indices, commodities, and other financial instruments.

cryptogt secure

Despite this diversity, we’ll narrow our emphasis to cryptocurrencies and evaluate the most prominent offers in that space. First and foremost, there’s the leverage. As previously stated, CryptoGT has a maximum leverage of 1:500 on all crypto pairs, which is insane. 

Almost every reputable broker limits the multiplication rate on crypto pairs to 1:50, recognizing that the asset is extremely volatile, and a single price movement might wipe out a trader’s money. CryptoGT, on the other hand, is unconcerned about this, going all-in with this absurd offer.

However, there is nothing on the broker’s website that might indicate the bid-ask price difference on cryptos, currency pairs, or other assets when it comes to spreads. Now, if we knew CryptoGT charged commissions on transactions, we’d be less concerned, but because the broker’s key selling point is the lack of costs, we have to wonder: how does CryptoGT support its services?

Is it feasible that the broker receives money from questionable sources? It’s entirely conceivable!

Let us now turn our attention to the minimum deposit requirement, which is likewise highly suspicious. Unlike other, more reputable brokers, CryptoGT just takes a 0.0001 BTC deposit, which is roughly 1 US dollar.

We’re becoming increasingly suspicious of the CryptoGT fraud because the minimum need is so low.

Also, you can only use cryptocurrencies to make the actual deposit, which is a disappointment. This isn’t a significant concern, though, when compared to other dubious aspects.

Should I trust the broker?

  • Launched in 2017: Crypto GT has grown as a brokerage platform since 2017 and they have served millions of people. With their services, they are standing strong with their vivid community. 
  • Crypto GT is one of the first Crypto brokers in the financial industry: They pride ourselves on being the first crypto brokers in the trading world and providing the best services to our community. 
  • Security of Funds: They provide optimum security to their community so that you have an awesome trading experience. For additional security, you can go to the Profile option, in your portal. There you can see the Two-Factor Authentication feature where you can activate it. You will be asked to download the free Google Authenticator app and your 2FA will then be enabled.
  • Tier 1 Banks: They have collaborated with top-notch banks to provide the best services to you
  • Segregation of Funds: Clients’ funds are segregated from the Company’s own funds, making them 100% available for clients at all times.
  • Risk Management: They have designed strong internal policies and procedures and set certain thresholds that are constantly being monitored, allowing us to effectively identify potential risks. 
  • Negative Balance Protection: Their strong standing in the market is perhaps the best insurance and protection of our company and its traders. They foolproof you from reaching a negative balance and ensure a happy trading experience.
  • High Capital Reserves: They maintain one of the strictest capital ratios in the industry. Whereas the typical capital-to-risk weighted exposure ratio of the most reputable regulators is generally at approximately 12%, they consistently maintain a ratio of 40% adequacy. This allows us and, subsequently, our users, to feel safe even in the most turbulent of periods. 

Pros of CryptoGT:

  • 6 Asset classes: FX, Crypto pairs, Precious Metals, Indices, Synthetic Cryptos, GTi12 Index
  • Synthetic Cryptos, GTi12 Index (unique instruments)
  • MBTUSD (BTCUSD/1000) (unique instrument) – low margin requirements
  • Zero transaction fees on deposits and withdrawals
  • 5$ minimum deposit required
  • User-friendly MT5 Platform (Desktop, WebTrader, Mobile)
  • Dynamic leverage up to 1:500
  • Ongoing Promotions for new and existing clients
  • 24/7 Client Support Live Chat and Email
  • Secure trading environment

Cons of CryptoGT:

  • Inactivity fee: $10/Month
  • Does not provide its services to citizens and residents of certain jurisdictions such as the United States of America, Canada, EU countries, Iran and North Korea.
  • No support via phone

Conclusion

The real trade terms and conditions are the final component of our puzzle. Many traders make the mistake of choosing a brokerage solely based on trading numbers. Frequently, the broker is able to deceive them with its showy conditions and lure them into a financial swindle. As a result, when looking at numbers, extreme caution is required.

Finally, we looked at all of the major trading terms and conditions and concluded that CryptoGT’s commission rates, leverage, and bonus programs are more than profitable for any sort of trader. It’s a dependable service with advantageous trading features and software.

FAQs

When it comes to opening an account, are there any age restrictions?

To register for a CryptoGT account, you must be at least 18 years old.

How much time does it take to set up an account?

It takes less than a minute to create an account. We’ll send you an email with a confirmation link after you’ve registered. Your account will be available once you click the link to validate your email address.

Is it feasible to use the same email address to create several accounts?

No, each client can only have one Account with the same email address. However, you are permitted to open several trading accounts.

What are e-Wallets?

e-Wallets are established automatically and can be used to make deposits, withdrawals, and internal transfers in different currencies to and from your trading accounts.

Is it possible to open a demo trading account?

Yes, we offer demo accounts with demo balances. These vary from currency to currency. Up to one demo account can be created per Cryptocurrency, you can choose to leverage either 1:200 or 1:500. Please be aware that leverage changes cannot take place when there are open positions in your account.

Can I open a corporate account?

Yes, you can. When opening a corporate account, enter your Company name in ‘First Name’ and your Company type (eg, Limited Company, Ltd.) in ‘Last Name’.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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