N1CM ReviewCategory: Reviews | Author: Trading Brokers | Date: September 19, 2023
If you are looking for a forex and CFD broker that offers a variety of trading instruments, platforms, and tools, you might have come across N1CM, or Number One Capital Markets. This broker claims to provide traders with competitive spreads, fast execution, and flexible leverage on over 100 markets, including forex, metals, commodities, indices, shares, and cryptocurrencies. But is N1CM a reliable and trustworthy broker? In this article, we will give you an unbiased and in-depth review of N1CM’s regulation, platforms and tools, education, markets, accounts, and funding options. By the end of this article, you will have a better understanding of what N1CM has to offer and whether it suits your trading style and goals.
Pros & Cons
- Offers both MetaTrader 4 and MetaTrader 5 platforms
- Low minimum deposit and withdrawal limits
- Offers a range of trading products, including forex, stocks, and cryptocurrencies
- Offers ECN execution and negative balance protection
- No top-tier regulatory status
- Limited information available on the company's background and history
- Spreads are not the tightest
- Withdrawals can be slow
N1CM is a global forex and CFD broker that was established in 2016 and is regulated by the Vanuatu Financial Services Commission (VFSC), which is an offshore regulator that requires brokers to comply with certain standards of security, transparency, and fair trading practices. The broker offers access to over 100 trading instruments across various asset classes, such as forex, metals, commodities, indices, shares, and cryptocurrencies. N1CM provides traders with a choice of trading platforms, including MetaTrader 4, MetaTrader 5, Autochartist, and social trading. The broker also offers educational resources, such as webinars, videos, articles, and e-books, to help traders improve their skills and knowledge. N1CM has four types of trading accounts: Cent, Standard, and ECN Accounts.The minimum deposit required to open an account is $10 for the Micro account and $100 for the other accounts. The broker supports various funding methods, such as credit/debit cards, bank transfers, e-wallets, and cryptocurrencies. N1CM claims to have competitive spreads, fast execution, and flexible leverage up to 1:1000.
N1CM is a global forex and CFD broker that is regulated by the Vanuatu Financial Services Commission (VFSC), which is an offshore regulator that requires brokers to comply with certain standards of security, transparency, and fair trading practices. The VFSC is the official authority that issues licenses and supervises the activities of financial service providers in Vanuatu, a small island nation in the South Pacific Ocean. N1CM has a license number of 15008 and is authorized to carry on the business of dealing in securities. However, the VFSC regulation is considered to be less strict and reliable than other regulators, such as the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA), or the Australian Securities and Investments Commission (ASIC). These regulators have more stringent rules and regulations for brokers, such as higher capital requirements, segregated client funds, compensation schemes, regular audits, and consumer protection measures.
Therefore, traders who choose to trade with N1CM should be aware of the potential risks and benefits of trading with an offshore-regulated broker. The VFSC does not have a strong enforcement mechanism or a dedicated team to monitor and supervise the activities of its licensees. This means that brokers may not comply with the best practices or ethical standards of the industry and may engage in fraudulent or manipulative behaviors. Please see a list of regulated brokers for some alternative options.
Platforms & Tools
N1CM offers a range of trading platforms and tools to suit different trading styles and preferences. The broker supports MetaTrader 4, MetaTrader 5, Autochartist, and social trading. These platforms and tools are available for download from their website or can be used on the web, on Mac, Linux, Windows, and Android operating systems.
- MetaTrader 4: This is a classic platform that has been trusted by millions of traders for over a decade. It offers advanced charting tools, indicators, expert advisors, and automated trading options. It also supports multiple languages, order types, and execution modes. MetaTrader 4 is one of the most popular and widely used platforms in the industry, offering access to over 100 trading instruments across various asset classes, such as forex, metals, commodities, indices, shares, and cryptocurrencies.
- MetaTrader 5: This is a newer and more powerful platform that has more features and capabilities than MetaTrader 4. It offers more timeframes, more order types, more technical analysis tools, and more market-depth information. It also supports hedging, netting, and exchange-traded stocks. MetaTrader 5 is designed for the modern trader who wants to trade on multiple markets with one platform.
- Autochartist: This is a powerful tool that scans the markets for trading opportunities based on technical analysis and patterns. It can help traders identify trends, breakouts, reversals, and volatility in real time. It also provides quality indicators, such as probability, risk-reward ratio, and projected price movement. It can be integrated with MetaTrader 4 and 5 or accessed via the web. Autochartist is ideal for traders who want to save time and enhance their trading performance with automated analysis.
N1CM provides a variety of educational resources to help traders improve their skills and knowledge of forex and CFD trading. The broker offers webinars, videos, articles, and e-books on various topics related to trading, such as market analysis, trading strategies, risk management, technical indicators, and more. These resources are available for free on their website and can be accessed by anyone who wants to learn more about trading. Here is a list of the different educational resources that N1CM offers and what they offer:
- Webinars: These are live online sessions that are conducted by experienced traders and analysts. They cover various aspects of trading, such as market trends, trading opportunities, trading psychology, and more. The webinars are interactive and allow participants to ask questions and get feedback from the experts. You can register for upcoming webinars on their website.
- Videos: These are short and informative clips that explain different concepts and techniques of trading. They cover topics such as how to use MetaTrader 4 and 5, how to use Autochartist, how to use social trading, and more. The videos are easy to follow and can help traders understand the basics of trading. You can watch the videos on their website or on their YouTube channel.
- Articles: These are written by professional traders and analysts who share their insights and opinions on the market. They cover topics such as fundamental analysis, technical analysis, economic news, trading tips, and more. The articles are updated regularly and can help traders stay informed and updated on the market. You can read the articles on their website or on their blog.
- E-books: These are comprehensive guides that cover various topics related to trading, such as forex basics, forex strategies, forex indicators, forex glossary, and more. The e-books are downloadable in PDF format and can help traders learn at their own pace. You can download the e-books on their website.
N1CM offers access to over 100 trading instruments across various asset classes, such as forex, metals, commodities, indices, shares, and cryptocurrencies. The broker provides competitive spreads, fast execution, and flexible leverage on these markets. You can trade these instruments on the platforms and tools that N1CM supports, such as MetaTrader 4, MetaTrader 5, Autochartist, and social trading. One of the asset classes that N1CM offers is forex, which is the exchange of one currency for another. N1CM offers over 60 currency pairs, including major, minor, and exotic pairs. You can trade forex with low spreads starting from 0.6 pips and leverage up to 1:1000. You can also benefit from the 24/5 availability of the forex market and the high liquidity and volatility of the currency movements.
Another asset class that N1CM offers is metals, which are precious or industrial metals that have a high value and demand. N1CM offers four precious metals, namely gold, silver, platinum, and palladium. You can trade metals with low spreads starting from 0.3 pips and leverage up to 1:500. You can also hedge your portfolio against inflation and market uncertainty with metals. In addition to forex and metals, N1CM offers commodities, which are raw materials or agricultural products that are traded on the market. N1CM offers six commodities, namely crude oil, natural gas, wheat, corn, soybean, and coffee. You can trade commodities with low spreads starting from 0.4 pips and leverage up to 1:200. You can also diversify your portfolio and take advantage of the supply and demand factors that affect the commodity prices.
Besides commodities, N1CM offers indices, which are collections of stocks that represent the performance of a specific market or sector. N1CM offers 15 global indices, such as Dow Jones, S&P 500, Nasdaq 100, FTSE 100, DAX 30, Nikkei 225, and more. You can trade indices with low spreads starting from 0.8 pips and leverage up to 1:200. You can also gain exposure to the performance of the leading companies and sectors in different countries and regions. Furthermore, N1CM offers shares, which are units of ownership in a company that are traded on the stock market. N1CM offers over 20 popular shares of US companies, such as Apple, Amazon, Facebook, Google, Netflix, Tesla, and more. You can trade shares with low spreads starting from 0.2 pips and leverage up to 1:20. You can also speculate on the price movements of the most influential and innovative companies in the world.
Finally, N1CM offers cryptocurrencies, which are digital currencies that use cryptography to secure transactions and control the creation of new units. N1CM offers five cryptocurrencies, namely Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash. You can trade cryptocurrencies with low spreads starting from 0.8 pips and leverage up to 1:5. You can also participate in the fast-growing and dynamic market of digital currencies.
N1CM has three types of trading accounts: Cent Account, Standard Account, and ECN Account. These accounts differ in terms of the minimum deposit, the spread, the commission, the leverage, and the features that they offer. You can choose the account that best suits your trading style and goals.
- Cent Account: This is the smallest and simplest account that N1CM offers. It requires a minimum deposit of only $1 and offers a fixed spread starting from 0.9 pips. It does not charge any commission and offers a leverage up to 1:1000. It also offers a swap-free option for Islamic traders. This account is ideal for beginners who want to start trading with a low investment and low risk. With this account, you can trade micro lots (0.01 lot) and enjoy low margin requirements.
- Standard Account: This is the most popular and balanced account that N1CM offers. It requires a minimum deposit of $10 and offers a floating spread starting from 0.8 pips. It does not charge any commission and offers a leverage up to 1:1000. It also offers a swap-free option for Islamic traders. This account is suitable for intermediate traders who want to enjoy competitive spreads and flexible leverage. With this account, you can trade micro lots (0.01 lot) and access all the trading instruments that N1CM offers.
- ECN Account: This is the most advanced and professional account that N1CM offers. It requires a minimum deposit of $10 and offers a raw spread starting from 0.5 pips. It charges a commission of $6 per lot and offers a leverage up to 1:1000. It also offers a swap-free option for Islamic traders. This account is designed for experienced traders who want to trade with the best market conditions and the lowest costs. With this account, you can trade micro lots (0.01 lot) and benefit from the direct market access and the fast execution that N1CM provides.
N1CM offers a wide range of funding methods for its clients, ensuring flexibility and convenience in managing their accounts. These methods include credit/debit cards, bank transfers, e-wallets, and cryptocurrencies. Notably, N1CM does not impose any commissions on deposits and withdrawals, except for ECN accounts, which incur a $2.5 per side commission fee. The minimum deposit and withdrawal amount is set at $1 for most methods, except for bank transfers, which require a minimum of $100. Processing times vary depending on the chosen method, but N1CM strives for swift processing.
Clients can opt for familiar options like credit/debit cards and bank transfers for reliability, while e-wallets such as Skrill, Neteller, Perfect Money, and FasaPay offer instant transactions and multiple payment choices. Additionally, N1CM embraces the world of cryptocurrencies, supporting Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, and more, allowing for fast and anonymous transfers. Sticpay, Payment Asia, Coinbase, and B2BinPAY are also available options, catering to various preferences and regions.
In conclusion, N1CM, or Number One Capital Markets, offers a range of trading instruments and platforms, catering to traders of varying experience levels. Regulated by the Vanuatu Financial Services Commission, the broker provides access to over 100 markets, including forex, metals, commodities, indices, shares, and cryptocurrencies. While it offers a choice of trading accounts, educational resources, and competitive spreads, traders should be aware of the VFSC’s relatively less stringent regulations compared to other authorities. Additionally, N1CM supports a variety of funding methods for convenient deposits and withdrawals. However, it’s important to note that the financial industry is vast, and there are other N1CMs with longer track records that may also be worth considering as alternative options. To explore additional choices and find the N1CM that best suits your specific trading needs, we encourage you to explore our extensive collection of trading broker reviews.