Cryptoopttrade

Cryptoopttrade, a UK-based investment services provider with Maltese connections, offers over 70 trading instruments, including forex pairs, indices, and stocks. You are supported to trade on the globally renowned trading platform MT5, with a maximum leverage of 1:100. However, Cryptoopttrade is not regulated by any legal institution.

Pros and Cons

Is Cryptoopttrade Legit?

Cryptoopttrade claims to be regulated by MFSA (The Malta Financial Services Authority) and holds three financial service licenses, with license number IS/56519.

However, our research has found this claim questionable, as MFSA has issued warnings stating that Cryptoopttrade is not a Malta registered company and is not authorized to provide financial services.

Therefore, you are advised to choose another legally regulated broker.

What Can I Trade on Cryptoopttrade?

Cryptoopttrade offers a diverse range of trading instruments, including forex pairs, commodities like oil and natural gas, precious metals (gold and silver), a broad spectrum of share indices, and futures.

Account Type (Minimum Deposit/Leverage/Spread & Commission)

Cryptoopttrade provides weekly accounts and monthly accounts.

Weekly accounts include five tiers: Starter, Classic, Pro, Executive, and Premium, with spreads ranging from 1.9 to 1.2 pips. The minimum deposit is $500 for the Starter, $3,500 for Classic, $8,000 for Pro, $11,500 for Executive, and $25,000 for Premium account.

Monthly accounts offer seven tiers: Luxury, VIP, VIP Luxury, Silver Platinum, Gold Platinum, VIP Gold Platinum, and Gold Luxury Platinum. The spreads for these accounts also range from 1.9 to 1.2 pips. The minimum deposit amounts are significantly higher: $50,000 for Luxury, $75,000 for VIP, $50,000 for VIP Luxury, $350,000 for Silver Platinum, $500,000 for Gold Platinum, $750,000 for VIP Gold Platinum, and $1,000,000 for Gold Luxury Platinum.

The maximum leverage for each accounts is set at 1:100.

Additionally, Cryptoopttrade provides a demo account for practice.

Trading Platform

Cryptoopttrade only supports trading through MT5, a globally leading trading platfrom. However, given the lack of regulation, we are uncertain whether the broker got legal permission from MT5.

Deposit and Withdrawal

At Cryptoopttrade, you can make deposits or withdrawals via Credit Card, Bitcoin, Yandex Money, Bank Transfer, QiWi Wallet, Neteller, Webmoney, and Skrill. For deposits, no handling fees are charged. However, for withdrawals, a 2.9% handling fee will be applied when using Neteller and Skrill. As for other withdrawal methods, an account manager inquiry fee will be required.

Customer Service

Cryptoopttrade offers 24/7 online chat support. In addition, you can also contact them through email, phone, and physical address.

The Bottom Line

In conclusion, Cryptoopttrade offers over 70 types of trading instruments with a high minimum deposit, enabling you to trade on the leading MT5 platform. However, this broker is not regulated by any legal authority, so you are still advised to stay away from such brokers.

FAQs

Is it safe to trade with Cryptoopttrade?

No, trading with Cryptoopttrade is unsafe given the lack of legal regulation.

What is the maximum leverage offered by Cryptoopttrade?

The maximum leverage is 1:100.

What trading platform is available at Cryptoopttrade?

Cryptoopttradeonly supports trading on MT5.