Cryptrader Forex Broker

Since this brokers official site is not accessible at the time of writing this introduction, only a cursory understanding can be obtained from other related reviews. General Information Cryptrader is allegedly a Saint Vincent and the Grenadines-based cryptocurrency broker, claiming that it provides its clients with an intuitive, powerful and advanced web-based trading software, as well as 70+ crypto CFDs with low spreads to trade and decent leverage as high as 1:40, Market Instruments Cryptrader offers cryptocurrency trading instruments only. Some other trading assets like stock, indices, commodities and precious metals are not available. Account Types The minimum initial deposit for the Basic account is $250. Apart from the Basic account, Cryptrader offers five more account types – Silver, Gold, VIP, Diamond and Black Diamond with the minimum deposit requirements of $10,000, $25,000, $100,000, $500,000 and 1 million respectively. As for the clients of the Black Diamond accounts, they will receive limitless service and speak with the Black Diamond Account Managers for more details. Leverage The maximum leverage is affected by what type of accounts you are holding. The clients of the Basic account enjoy the leverage ratio of 1:10, the Silver account with 1:20, the Gold account with 1:30, the VIP and Diamond account with 1:40, as well as the Black Diamond account about which no direct information is given. Attention that too high leverage is not always beneficial for traders due to its consistent gains and losses. Spreads & Commissions The only information we can get from the Internet is the BTC/USDT Buy/Sell difference is floating around 340 points. No more other detailed information about spreads and commissions is involved. Trading Platform Available Cryptrader claims that it provides a powerful, flexible and reliable trading platform. Actually, it is just a web-based software. Compare to well-known MetaTrader4 and MetaTrader5, it lacks enough indicators and efficient tools. Deposit & Withdrawal Cryptrader says to accept payment via Credit/Debit cards like VISA and MasterCard, Wire Transfers and Bitcoin. The minimum deposit at Cryptrader is $250 while the minimum withdrawal is said to be $10. Cryptrader claims that withdrawals of less than $1000 are free of charge. However, there will be an inevitable fee of $30 per transfer if the account is profitable. Besides, accounts with a balance of more than $5000 will have to pay $50 per withdrawal. Cryptrader also gives some bonuses, but if traders accept bonuses, they need to reach a “Leverage Amount” traded- 20 000 times the bonus. If traders fail to meet this requirement, they have to pay another 20% in withdrawal fees. Fees According to the clauses shown on Cryptraders site, it also receives some inactivity fees. An account becomes dormant after 60 days of inactivity and will be charged 10%/100 currency units, the trader will have to pay the higher one. Customer Support Cryptrader‘s customer support can be reached through telephone: +35956598736, email: support@cryptrader.io. However, this broker doesn’t provide any more direct contact information about company address while most brokers offer.