What is altcoin / crypto trading?
The company operating the brand and the website, Altcoin Trader Pty Ltd. South Africa is no exception to that. If you insist to invest with a regulated entity, you may also trade in cryptocurrencies with forex brokerages, most of which are properly licensed and besides, offer margin trading.
Most importantly, there is no information about AltcoinTrader being hacked and the latter claims that all FICA and cryptocyrrencies are stored in cold storage.
Trading instruments cryptocurrencies AltcoinTrader really focuses on the South African market and targets local traders, as this cryptocurrency exchange offers trading digital coins against South African Rand only. If you’s rather trade cryptocurrencies against the common EUR and USD, you may always do that with major exchanges like Kraken and Bitstampwhich also operate on the South African market.
In fact, this appears to be the situation with the majority of cryptocurrency exchanges. Leverage As we have already mentioned above, AltcoinTrader does not support leveraged trading. Some see leverage as a golden opportunity to score large profits with small deposits, others, usually more experienced traders rather find it too risky.
Nonetheless, if you need some leverage, other crypto-exchanges, like Kraken provide such. Besides, there is a growing number of forex brokers that offer speculative margin trading in cryptocurrency CFDs. This seems a bit unfair to us, and besides, it is above the industry average of 0. Trading platform AltcoinTrader offers a simple and easy to use web-based platform.
It has a functional order book, trade history window and basic charting. Its design is not mobile-friendly and no mobile app is available either, so if you are on-the-go crypto trader, AltcoinTrader is probably not your cup of tea.