Choosing a reliable cryptocurrency trading platform remains one of the biggest challenges that crypto traders face globally. Even though there are some high-ranking crypto exchanges like Binance, KuCoin, Huobi, etc that are famous for their state-of-the-art functionalities, these exchanges do not accept users from certain countries. Having a trustworthy broker as your trading partner is critical to see a positive impact on your trades. Many crypto-centric exchanges are currently available in the market as a solution for traders and CryptoGT is one of them.
In this article, we shall take a look at every aspect of the CryptoGT trading platform and services to determine whether crypto traders should try it or not.
Background of CryptoGT
CryptoGT is a fairly new player in terms of online trading that supports cryptocurrencies as it came into existence 4 years ago in 2017. The type of execution model followed by this broker is STP and no dealing desk. The official website states that the company which operates CryptoGT is known as Hatio Ltd which is registered in the Republic of Marshall Islands.
Further inspection reveals that there are some jurisdictional limitations on CryptoGT as well since the trading platform does not accept clients from the US, EU countries, Canada, and North Korea. Though CryptoGT supports not only crypto but forex, indices, precious metals, etc via its platform for some unknown reason only cryptocurrencies are accepted as deposits as of now.
CryptoGT has some social presence currently because as mentioned earlier, the platform is just 4 years old.
Taking a look at their website and the way it is designed, it is clear to see that CryptoGT emphasises a user-friendly interface. The informative aspect of their website made it easy to write such a detailed review. CryptoGT offers only one type of trading account which is standard and not quite flexible to impress different kinds of online crypto traders. The minimum deposit supported is $5 with maximum leverage of 1:500.
CryptoGT Unique Features
Like most trading platforms, CryptoGT makes itself stand out from its competition on the basis of its unique features and offerings which it provides its users on a daily basis. Apart from transparency, accountability, easy account opening, and 24/7 support, CryptoGT offers the following features to help its clients.
- GTi12 index
Upon accessing the web portal of CryptoGT, you would find that they have launched their trading index called GTi12 which has been developed by the CryptoGT team. As the name suggests, this particular trading index includes 12 of the most popular cryptocurrencies chosen by a team of experts which are BTC, XRP, ETH, BCH, LTC, BSV, DOT, EOS, XLM, BNB, TRX, and ADA.
CryptoGT allows its clients to benefit from low margin requirements whenever possible and to do this effectively there is an option to trade in MBTUSD which is simply BTCUSD/1000 in value. Trading with MBTUSD is the same as trading low margin yet profitable BTCUSD according to the CryptoGT website.
- Synthetic pairs
Traders who join the CryptoGT platform also get the opportunity to trade using synthetic pairs. By synthetic pairs, we mean a currency pair created with two different currencies that can be used to trade the third pair. CryptoGT supports BTC/XAU, BTC/XAG, BTC/SPX, BTC/FCB, BTC/TWR, and BTC/USO as synthetic pairs.
- No Initial KYC
Though this cryptocurrency trading platform mentions having stern rules and regulations to avoid money laundering and other incidents, an initial KYC is not asked of the clients when they create an account to start trading. KYC rules are applicable only when the withdrawal of a large amount ($5,000) is requested based on the FAQs available on the CryptoGT site.
- Supports EA
There are not many reliable trading platforms that allow the use of expert advisors. CryptoGT however allows traders to use a trustworthy and quality expert advisor program that can help them maximise their chances of making a substantial profit. Users can have their chosen EA applied on all trading pairs offered by CryptoGT
- Customised trading conditions
Based on the trading conditions, different traders see different results at the end of each trade. Every broker offers a slightly different trading condition that traders eventually get accustomed to after a while. But CryptoGT ensures that select partners and traders could benefit from their customised trading conditions.
Any trading platform would be rendered useless if it fails to provide basic security of funds that the users have spent as an investment in times of need. By fund security, we mean complete protection of the total capital and reserves. CryptoGT ensures that its clients do not have to worry about their funds. This particular broker keeps client funds in trustworthy financial institutions but does not share names. Segregation of funds is also maintained so that company’s funds are not mixed with the client reserves. Certain risk management features such as negative balance protection are also available for clients of the CryptoGT platform.
Supported Financial Instruments
Although the name CryptoGT indicates that this trading platform is dedicated only to cryptocurrencies, the truth is slightly different. CryptoGT mainly focuses on cryptocurrency offerings and features but it supports versatile financial instruments like foreign exchange currencies, indices, and precious metals too with the help of the industry’s favourite trading platform MetaTrader 5.
Like many other alternatives, CryptoGT attracts new visitors and customers through site-wide promotions. As of now, there are two promotions or bonuses active for CryptoGT clients which are;
- First-time bonus
The first-time bonus is available to all first-time users of this trading platform. Clients who have just created an account and deposited any cryptocurrency in it for the first time could get a 50% return or a maximum bonus of $500. This promotion is also available for a limited time on the website.
- Anytime deposit bonus
All clients are eligible to get the first-time bonus of 20% which is available for a limited period. To get this bonus, users of the CryptoGT platform need to make an account and deposit money into their trading account at any point to receive a maximum of $20,000 bonus or a 20% of their deposited amount in crypto.
Apart from these bonuses, Crypto GT also offers a zero deposit and withdrawal fee bonus that exempts the fee of deposit and withdrawal. It is available at no hidden costs and is a secure way to fund one’s trading account instantly.
KYC Norms at CryptoGT
KYC regulations have become vital at this point when hackers, money launderers, and terrorist financing have taken the cryptoverse by storm. Every other day a new exchange gets hacked and loses all of its client reserves due to a lack of security features and KYC standards. For this reason, CryptoGT has a strict AML and KYC model that clients must follow if their withdrawal amount exceeds $5,000. Several documents would be asked of that particular client before granting the withdrawal request.
The required documents for KYC include identity proof, passport, residential proof, and a picture of self. The company has also mentioned in detail the things that they do not approve of from any client on their website.