Alyaziah Hayat | May 9, 2022
Table of Contents
With its head office in Majuro, Marshall Islands, 1Market is a regulated financial services provider that can offer you forex, stocks, indices, commodities, cryptocurrencies, and CFDs for trading online. They will provide you with the popular MetaTrader 5 (MT5) trading platform, which is available in desktop, web, and mobile app versions. I like that the broker has reasonable spreads, no commissions, and reliable execution speeds. I appreciate that they provide multiple trading account types to choose from. However, I’m not too keen on the minimum deposit requirement of $500. For a lower deposit requirement, you can check out Fusion Markets. Furthermore, I have also not received a response from the 1Market support team after requesting information on multiple occasions over the course of a few months. This is very disappointing as I was expecting them to be readily available for potential and existing clients.
Broker Pros / Cons
- Advanced MT5 trading platform
- Tight spreads & zero commission trading
- Rapid trade execution speeds
- Large range of financial instruments
- Various trading account options
- Multiple funding options
- Trading Central
- 1nsight Live Feed
- Educational resources
- Regulated broker
- Islamic account types
- Demo trading accounts
- No USA clients
- Minimum $500 deposit
- Inactivity fee after 12 months
Launched in 2021, 1Market is an online financial services provider that aims to democratize financial services through technology enhancement. They can provide you with advanced trading platforms, competitive trading conditions, helpful trading tools, and educational resources to ensure you get the most out of their trades.
I like that the broker offers a unique array of proprietary and acquired trading solutions that create a comprehensive and empowering milieu where you can effectively assess other traders’ activity and spot trends in real-time.
1Market is a brand owned and operated globally by Podora Ltd., a Marshall Islands company with registration number 107838. As a European financial services provider, 1Market is also regulated and licensed by the Cyprus Securities and Exchange Commission (CySEC) under L. 87(I)/2017 regarding the provision of investment services, the exercise of investment activities, and the operation of regulated markets. I would’ve liked to see at least one tier-one body regulating them as this would immensely improve their security rating in my books. If safety is important to you, I recommend checking out AvaTrade instead.
The broker accepts traders from different parts of the globe, provided that their respective country of residence permits online trading with international brokers. However, if you find that 1Market is not accepted in your country, you can check out our broker ratings to find alternatives.
1Markets’ traders are given access to the MetaTrader 5 trading platform. MT5 is an advanced trading platform that was launched in 2010 by MetaQuotes, a Russian software company. I like this platform as it is built with various trading tools and capabilities — nine chart types, expert advisors, multiple timeframes, and more — to offer seamless access to the global financial markets. The broker makes the MT5 trading platform available in desktop, web, and mobile versions.
1Market’s innovative web trader gives you the edge to discover and analyse market opportunities in real time. It offers greater flexibility and an enhanced trading experience that is powered by design.
In addition to the tools that were built into the MT5 trading platform, the broker also provides you with some standalone trading tools to help you get the most out of your trades. These trading tools include the Trading Central, Leverage Selector, Insight Live Feed, Trading Signals, and more.
To ensure you never miss an opportunity, 1Market has integrated the investment decision support infrastructure powered by Trading Central™ – the financial industry’s top provider of real-time trading signals and market sentiment for retail traders. This is my favourite tool when I’m trading forex. When you fund your account, you gain access to Trading Central’s premium signals 3 times a day free of charge. I believe this is a great strategy to lure in new traders.
I like this unique tool as it delivers up-to-the-minute, measurable trade insights which are the essence of successful online trading. I haven’t seen many similar tools in the market. With 1nsight Feed, you can measure the activity of your peers as they trade. Gather steam and lead the trend.
Powered by a set of intelligent algorithms, 1nsight scans the trading activity of thousands of traders and assets available on 1Market’s platform to provide real-time, data-driven insights into the community’s morale. By displaying the data on the side of your screen without interfering with your trading, 1nsight Feed is your ultimate source of trading intelligence.
There are various learning resources on the broker’s website to help you make informed trading decisions. Some of these educational resources include daily market reports, financial news, trading guides, exclusive market updates, and more.
1Market has a very generous range of trading instruments available, with something to suit everyone’s interests. The following trading instruments are available: forex, stocks, indices, commodities, cryptocurrencies, and CFDs. If you still find their offering to be very small, you can check out IG for one of the largest offerings in the industry.
There is a choice of six live trading account types on the broker’s website. The account types and their corresponding minimum deposit requirements are as follows: Mini ($500), Standard ($1,000), Gold ($5,000), Platinum ($10,000), Diamond ($50,000), and VIP ($100,000) Accounts. Personally, I find these accounts to be way too expensive. You can get a much lower deposit requirement with other top brokers like Trade Nation.
The broker offers a customer support team who claims to be available 24/5 and can be contacted via telephone, email, online form, and social media. I would prefer to use a broker that offers 24/7 support like EXANTE.
Despite this, I did not receive any response when trying to contact them via email on various occasions. If they are reading this, I am happy to provide screenshots with dates and timestamps. I am also happy to clarify why there was no response on these occasions.
You can deposit and withdraw funds using any of the following payment methods:
- Bank Transfers
- Credit/Debit cards
- Electronic payment processors including Neteller, Skrill, Paysafecard, Sofort
The time taken to process transactions may vary depending on the payment method used.
To open an account, you have to click on the ‘Register Now’ button at the top right corner of the broker’s website and provide all the requested details. I find this process to be quick, secure, and efficient.
What is the 1Market minimum deposit?
The minimum deposit required by 1Market depends on the account type that you opt for.
Mini Account: Minimum $500 deposit
Standard Account: Minimum $1,000 deposit
Gold Account: Minimum $5,000 deposit
Platinum Account: $10,000 deposit
Diamond Account: $50,000 deposit
VIP Account: $100,000 deposit
How do I deposit money into 1Market?
1Market makes it quick and easy to safely deposit funds into your account. You can choose between the following methods:
Online bank transfer
Local bank transfer
To make a deposit, you can login to your account at 1Market and navigate to the secure Payment Page. From there, you simply follow the instructions to deposit funds into your account. If you prefer to set up a local bank transfer, contact your bank and instruct them to wire the funds from your bank account into the 1Market bank account.
What are the 1Market deposit fees?
1Market do not charge any deposit fees but you may need to pay a fee to your bank or e-Wallet provider. There may also be a currency conversion fee if you are making a deposit in a currency other than the base currency of your 1Market account.
How do I withdraw money from 1Market?
It’s also quick and easy to withdraw your funds from 1Market. Once you login to your trading account, simply click on ‘Withdraw Funds’ from the left side of the screen. Enter the desired withdrawal amount, and then click to confirm.
At 1Market, you can only process withdrawals and transfer them to the payment method that was used to place your first deposit.
If for example, you used a credit card to make your first deposit, the maximum amount that can be transferred back to your credit card is equivalent to the initial deposit that you made on the card. Any extra amount (above and beyond your initial deposit – will be transferred directly into your bank account via wire transfer.
1Market processes all withdrawals within 3 business days of your request. Naturally, the time delay between submitting a withdrawal request and actually receiving the funds in your account will depend upon the payment processor that you have used.
The estimated time between each of the payment providers varies. Bank transfers can take a few business days to clear whereas card or e-Wallet withdrawals may be completed within a few hours or less.
1Market is required by law to prevent third-party access to your account. KYC (Know Your Client) requirements mandate that traders submit compliance documents before any withdrawal requests can be approved, and processed.
In the event that a substantial period of time has elapsed since your first deposit was placed, you may be required to resubmit updated banking information and/or proof of residence for the withdrawal request to be processed.
What are the 1Market withdrawal fees?
1Market do not charge any withdrawal fees but you may need to pay a fee to your bank or e-Wallet provider. There may also be a currency conversion fee if you are making a withdrawal to an account in a currency other than the base currency of your 1Market account.
What is the 1Market commission fee?
1Market do not charge a commission fee. Trading is completely commission-free.
Are there any 1Market inactivity fees?
Yes, 1Market have an inactivity fee after 12 months of no trading activity.
What are the 1Market account types?
1Market have a good choice of 6 trading accounts, the primary difference between them being the minimum deposit. You can choose from the Mini, Standard, Gold, Platinum, Diamond, and VIP Accounts.
Is there a 1Market demo account?
Yes, you can open a 1Market demo account free of charge. This will give you access to trade online using the brokers platform with virtual funds. A demo trading account can be a great way to practice your trading strategies without any risk.
What are the 1Market spreads?
1Market spreads are variable, depending on the market conditions. As the broker does not charge a commission, this does mean that the spread can incur a mark-up to cover costs. This is something worth considering if you plan on using scalping trading strategies.
What is the 1Market leverage?
1Market provide clients with leverage up to 1:400 (for professional clients only). Leverage essentially enables a trader to enter a larger position size than they would be able to without it. This can increase both the potential profit and potential loss of a trade. It is therefore imperative that you have a clear understanding of leverage before you trade with leveraged positions.
Leverage is expressed as a ratio, for example if your leverage is 1:400, this means that you can hold a position that is the 400 times the value of your trading account. E.g. If your account had a balance of $500, you could take a position size of $200,000 ($500 account x 400 leverage).
What are the 1Market margin & stop-out levels?
The margin requirement will vary from one asset class to the next. It also depends upon your trader level, which represents the type of account you have. Retail traders are offered considerably less leverage than professional traders. This is done to protect inexperienced traders from exposure to risk.
Do 1Market allow hedging, scalping & expert advisors?
Yes, 1Market allow all types of trading strategies, provided that you are not in breach of the brokers terms and conditions.
Is there a 1Market Islamic account?
Yes, 1Market offers Islamic account types upon request. The trading services and conditions of Islamic accounts are dependent upon the amount of the deposit. The 1Market Islamic account complies with Sharia law and thus, ensures that they are a Muslim friendly broker.
What are the 1Market trading instruments?
1Market offer contract for differences (CFDs) on Forex, Stocks, Indices, Commodities and Cryptocurrencies. A contract for differences (CFD) is a financial contract that pays the differences in the settlement price between the open and closing trades.
How do I open a 1Market live account?
It is quick and easy to open a 1Market account, you just need to complete the short application form on the 1Market website. You will then be sent a verification email along with your login credentials.
How do I verify my 1Market account?
As a compliant trading brokerage, 1Market are required to meet with all legal parameters such as KYC, AML, and trader ID. This means that you must provide a clear copy of a valid driver’s license, government issued ID, or passport. The broker also requires a proof of residence which can be a utility bill such as a bank statement, electricity bill, or phone bill that was issued within the last 3 months. The bill must clearly display your full name and surname, as well as your home address.
What is the 1Market trading platform?
1Market provides traders with the ever-popular MetaTrader 5 platform for desktop, web and mobile. MT5 is an advanced trading platform that is used by millions of CFD and forex traders all around the world. It comes packed with a plethora of trading tools, features and functionalities.
In addition to the MT5 platform, they also have a web-based trading platform that runs directly in your web browser without needing to download or install any additional software.
Where can I download the 1Market platform?
You can download the MetaTrader 5 platform free of charge from the brokers website or directly from the developer MetaQuotes. Additionally, you can download the MetaTrader app from the relevant app store on your iOS or Android mobile device. The 1Market web platform can be launched directly from the brokers website.
Where is 1Market located?
1Market was founded in 2021, 1Market has offices in the Marshall Islands and Cyprus.
Is 1Market regulated?
Yes, 1Market is regulated by the Cyprus Securities and Exchange Commission (CySEC).
What countries do 1Market accept?
1Market welcome clients from around the globe, although their services are not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
Is 1Market a scam?
No, we do not believe 1Market is a scam. They are a regulated broker with a range of trading products and services.
How can I contact 1Market support?
1Market customer support team can be reached via email, online chat and social media.
|Broker Features||AvaTrade||IG||IC Markets|
|Regulated||ASIC, BVI, CBI, FFAJ, JFSA, FSCA, IIROC, ADGM FRSA||FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF||ASIC, CySEC, FSA, SCB|
|Country||Australia, Ireland, South Africa, Japan, British Virgin Islands||Australia, UK, USA, Switzerland, UAE, Singapore, Japan||Australia, Seychelles, Bahamas, Cyprus|
|Min. Deposit||Min $250 Deposit||Min $100 Deposit||Min $200 Deposit|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, CFDs, ETFs||Forex, Commodities, Stocks, Shares, Indices, Cryptocurrencies, Metals, Energies, Options, Bonds, ETFs, CFDs||Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade, Web, Mobile||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API, Web, Mobile||MetaTrader 4, MetaTrader 5, cTrader, Web, Mobile|
|Type||Market Maker, STP||STP, ECN, DMA||ECN|
|Funding||Wire Transfer, Credit/Debit Card, Paypal, WebMoney, Neteller, Skrill||Wire Transfer, Credit/Debit Cards, PayPal||Wire Transfer, Credit Card, Debit Card, WebMoney, Neteller, PayPal, Skrill, FasaPay, UnionPay, Qiwi, Bpay, Poli|
|Visit Broker||Visit Broker||Visit Broker||Visit Broker|
Operating from Majuro, Marshall Islands, 1Market is an online trading broker that allows you to buy and sell various financial markets via the MT5 trading platform. They can also provide you with access to learning materials and helpful trading tools which I found to be very useful in my trading journey. There are multiple trading account options to choose from, with a minimum deposit of $500. I would recommend TradeDirect365 for a much lower deposit requirement. The broker is regulated by the Cyprus Securities and Exchange Commission (CySEC). Finally, I would like to see the broker implement a more responsive client support team, simply due to the fact that I could not get any response from them.