CryptoGM is a broker who offers unique type of trading assets to the crypto enthusiasts. If you haven’t seen their asset class, then you have no idea about the kind of opportunities it presents.
While their platform seems reliable, surprisingly there is no testimonials about them on the web. If you are on the fence trying to decide whether or not to deposit on to this brokerage, then continue reading our detailed review.
We are going to walk you through every aspect of this broker.
Licenses, Regulation and Customer Support
Though the cryptos for the most part is unregulated, it is always a wise decision to stick with regulated entities only. While you may not get much advantage in terms of leverage, the trading conditions for the most part will not have a conflict of interest.
Not all unregulated exchanges are frauds, but in the last century they have notorious history of looting the newbies in the name of investments. CryptoGM is operated by Major Technologies and MajorBizDev limited who is registered in Ireland.
However, they do not appear to be a regulated body and there are no details about this matter on their website. If you have any questions left unanswered in this review, then you can reach the support team of this platform via telephone and email.
Due to a shortage of feedback from existing clients, we cannot comment anything on their efficiency. Here are the contact details.
CryptoGM is not integrated with MT4 and 5 platforms which means they are web based platform. The software runs on any device with an active internet connection. However, there are a few downsides to it as well.
For starters, anyone who is used to Expert Advisors won’t be able to execute the trades which might turn out to be a deal breaker. Moreover, we don’t know if they offer social trading or not. In short, unless you are interested in manual trading this platform will not be suitable for you.
The leverage in cryptocurrency trading is generally low, but the lesser leverage means it will be ideal for the newbies. After all, leverage has the power to amplify your gains and if it breaks the other way, it might end up costing your whole account. Always stick with risk management basics and unless you have mathematical edge, it is not worth taking any trade.
Asset Class and Trading Conditions
CryptoGM offers the biggest asset class we have ever seen in a long time. All the instruments are traded against BTC and the list includes all of the major markets from US500 to Gold along with traditional forex pairs.
Best Crypto Exchange
Best Brokerage and Auto Trading Robot
Recover Money from Scams
One thing is for sure, regardless of the kind of trader you are, this broker has something to offer to everyone in the crypto sphere. The only complaint we have is that, they have not specified the exact margin amount required to open a trading position.
Remember, the margin requirements changes constantly and it is very much needed to take pre calculated risks. So, get in touch with the support team to keep an eye on this matter and as long as there is constant communication, it shouldn’t be a big problem.
Deposits and Withdrawals
The minimum deposit and withdrawal amount is not specified on their platform. Payments methods used by them are major credit or debit cards and wire transfers. It would have been great if they also had online payment options like Skrill or Paypal as a major part of the population uses them.
Moreover, they have not stated the time required for them to process withdrawals as well. Generally the time required for wire transfers can go upto 14 days, but for the exact updates on the withdrawal, it is best to get in touch with their support team.
Below are the demographics of this broker. Source – Alexa.com and Whois.com
Domain – cryptogm.com
Registered On – 10/10/2017
Expiry – 10/10/2019
Alexa Global Rank – 2,592,776
CryptoGM Review Conclusion
CryptoGM offers unique set of advantages along with some drawbacks to the clients. Most of the people who love cryptos would definitely love the option it provides. However, due to unavailability of semi-automated systems, it has a narrow audience.
On the flip side, since they are unregulated the safety of your funds is not up to the mark and we do not know if they have negative balance protection which is also an important aspect.
Ultimately, it all comes down to your preference, but if you have to stick with them, then test them out with minimum capital to see whether they meet your expectations.
Do you have any experience with CryptoGM? Feel free to share your opinion by leaving a comment below.