One Financial Markets ReviewCategory: Reviews | Author: Trading Brokers | Date: November 17, 2022
One Financial Markets is a regulated online brokerage that provides you with Forex and CFD trading on the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms for web, desktop and mobile devices. The broker has a generous selection of educational resources for beginners to learn more about the markets and trading online. You can take advantage of some professional market analysis tools that are provided free of charge, including the excellent Trading Central. There is a good variety of convenient deposit and withdrawal options to choose from. I believe that One Financial Markets could offer tighter spreads if they were to increase their liquidity providers (LP’s) and have a deeper liquidity pool. However, the conditions are still rather competitive and there are no minimum commission requirements. They also have a great range of financial instruments to choose from although the minimum deposit of $250 is not the lowest you will come across. That being said, they do have free demo accounts if you want to give them a try before making a commitment.
Pros & Cons
- Trade via the user-friendly MetaTrader platforms for web, desktop and mobile
- Choice of financial instruments across various asset classes
- Free access to the excellent Trading Central analysis tool
- Collection of additional indicators to help with your market analysis
- Dedicated trading academy to educate beginners
- Good variety of account funding options
- Free demo accounts to practice trading online
- Islamic swap-free accounts for Muslim traders
- 24-hour customer support
- Minimum $250 deposit is not the lowest
- Spread mark-ups mean they aren’t the tightest spreads
- Could add some more trading instruments
- No social trading platform or managed accounts
- No daily market analysis from inhouse team
- Does not accept clients some countries
- Currently do not support crypto funding
Founded in 2007, One Financial Markets is a regulated CFD broker offering around the clock trading facilities to retail and institutional investors from all over the globe with local expertise through its wholly owned and affiliate offices throughout the Middle East, Europe, South America and Central and South East Asia. You can trade forex currency pairs along with a good selection of CFDs on stocks, shares, indices, metals, commodities, energies and cryptocurrencies. CFDs enable you to speculate on the price of an instrument without needing to physically own the underlying asset. The difference between the price of an instrument from when you open and close the position, if the profit or loss minus any brokerage fees. This broker has been presented with a number of awards to recognise the quality of their brokerage service and dedication to clients.
When choosing a broker, regulation is one of the first things that I look for. One Financial Markets is owned by AxiCorp, who also own another top broker in Axi. The Group is regulated by financial services authorities around the world including the Financial Conduct Authority (FCA) in the UK and the Financial Sector Conduct Authority (FSCA) in South Africa. The FCA and FSCA help to protect investors by implementing strict rules and regulations that financial service providers must abide to. Using a regulated trading broker can give clients peace of mind that they have some form of protection should something go wrong.
One Financial Markets are unable to offer brokerage services to residents of the United States, Belgium, Poland or any particular country outside the UK and the is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. If you find that they do not accept clients from your country for whatever reason, please feel free to browse our broker reviews for an alternative option.
One Financial Markets offer clients a choice between the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These are both developed by trading software company MetaQuotes and two of the most popular trading platforms available today. The MetaTrader platforms are used by millions of traders worldwide and available from most online brokers. I have used them for many years and find them to be very user-friendly, with all of the features and functionality needed for manual and automated trading. There are many MetaTrader brokers to choose from, which gives you plenty of choice should you decide to switch providers down the line. This can save you from the hassle of needing to learn how to use a new platform from scratch. You can get both MetaTrader platforms through other brokers including RoboForex.
MetaTrader 4 (MT4)
MT4 remains one of the trading platforms of choice for beginner and experienced traders alike. It is well known for its user-friendly interface and abundance of built-in trading tools. The platform has an intuitive interface and enough functionality to meet the needs of most retail traders. You can use MT4 to analyse charts, place and manage positions. MT4 is available for desktop, web and mobile devices. The desktop platform has the most functionality whereas the web platform can run directly in most modern web browsers without the user needing to download or install any additional software. The MT4 mobile trading app is useful for those who would like to be able to access and manage their trading account whilst on the go.
MetaTrader 5 (MT5)
MT5 is the successor to the MT4 platform which maintains most of the same features and a similar layout with the addition of some extra features to improve the overall trading experience. Whilst MT4 is perhaps still more widely used, MT5 can be preferred for those who have more demanding daily trading strategies that require more complex analysis and want access to more trading instruments. With more indicators, analytical tools and greater customisation, MT5 combines the usability of MT4 with the technical capabilities to support the more seasoned traders.
MetaTrader 4 vs MetaTrader 5
The two MetaTrader platforms are very similar although there are a few key differences between the two. Besides the fundamental differences between the two platforms, more features were added to MT5. You can see a comparison between the platforms below:
- Technical Indicators: MT4 (30) MT5 (38)
- Graphical Objects: MT4 (31) MT5 (44)
- Timeframes: MT4 (8) MT5 (21)
- Economic Calendar: MT4 (No) MT5 (Yes)
- Embedded MQL5.community chat: MT4 (No) MT5 (Yes)
- Strategy Tester: MT4 (Single thread, Single currency) MT5 (Multi-threaded, Multi-currency, tick data)
The MT4 platform could be preferred for those who want to keep things simple and just trade forex or CFDs. It has a quicker learning curve and plenty of online tutorials available. However, if you would like to trade other asset classes such as stocks and shares, then you may want to consider the MT5 platform over MT4. Although the learning curve is slightly steeper, there will be more options and functionality available to you.
Whilst the MT4 and MT5 trading platforms have a large selection of built in trading tools, the broker also provides some additional tools to assist clients with their day to day trading activities. I think there is more than enough tools available for everyone to conduct detailed market analysis. You can create strategy templates as simplistic or complicated as you need them to be. You can get plenty of free and paid tools from the MQL marketplace to further enhance the MetaTrader platforms capabilities. You can also develop your own tools using the MQL editor or hire a freelancer to do it for you should you need have the technical expertise. Whatever your trading strategy idea, chances are you can bring it to life.
One Financial Markets clients get free access to technical analysis from one of the world’s leading independent technical analysis research houses. Trading Central provides investors with a plethora of tools to help assist with informed trading decisions through their series of insightful technical analysis reports and daily newsletters. I think this is one of the best tools for automated market analysis based on customised settings. It can save you from hours of watching the charts and alert you when your preferred signal is found. You can also get free access to Trading Central through other brokers such as Libertex.
Some of the key Trading Central features include:
- Discover potential trading opportunities
- Learn how to improve your risk management
- Customise analysis reports and receive them via email or read them online
- Keep up to date with the latest economic data releases
- Additional free trading indicators for MT4
- Available in multiple languages
One Indicator Series
One Financial Markets offer new demo account and live account holders their very own bespoke One Indicator series which can help with market analysis. The indicators come pre-installed on the platforms and can be used to identify price action patterns, trends and ranges. I think that these indicators can be useful when combined as part of an overall trading strategy.
One Financial Markets have an economic calendar which can be a very useful tool for fundamental market analysis. The calendar displays the dates and times of upcoming news releases along with the previous, forecasted and actual results of each release. This can be utilised as part of a new trading strategy or to assist with existing trade positions. I think this is a vital tool and always like to check for any pending news before making a decision on my positions. You can also get an economic calendar built-in the MT5 platform which is more convenient as you don’t need to keep switching between tabs.
Traders can gain confidence and knowledge on trading the financial markets with the brokers award winning education. One Financial Markets provide clients with free market research and news from their award-winning team of expert analysts. They also offer free trading seminars and webinars that are available to both account holders and non-account holders.
One Trading Academy
The One Trading Academy is a module-based learning programme which allows you to gain confidence and knowledge in trading the financial markets independently. The One Trading Academy is a free resource which can be provided on a one to one or group basis and is tailored for beginners and experienced traders. You can work through the brokers six online trading modules to develop your trading confidence. The modules cover some important topics including:
- Introduction to the Markets
- What is CFD Trading?
- What is Forex?
- Market Analysis
- Managing Risk
- Trading Psychology
There is an in-depth trading glossary on the brokers website that covers some of the more commonly used trading terminologies along with an explanation of each. Whilst this is nothing ground-breaking, it is nice to have access to everything in one place.
One Financial Markets provide online trading on a decent selection of financial instruments and asset classes including forex currency pairs and CFDs on stocks, shares, indices, metals, commodities, energies and cryptocurrencies. I think there is a nice variety with something for everyone to build a diversified portfolio, regardless of your interests.
A Contract for Difference (CFD) is a structured financial derivative which replicates the price action and movement of an underlying security or investment product. Thus, traders can speculate on the differences between prices without actually physically owning the underlying asset. This has made trading online easily accessible to aspiring investors of all experience levels from all over the globe. CFDs can be traded using margin which means that you can trade larger volumes with less upfront cost. However, trading on margin with a leveraged position can increase risks and you should have a clear understanding of the significant risks involved with online trading.
One Financial Markets have a simple selection of trading accounts for different types of trader. They currently only offer two account types on MT4 and MT5, the “standard” or “professional” accounts.
With an initial deposit of $250, the brokers standard account provides access to a wide range of forex and CFD trading instruments through a choice of either MetaTrader platforms. The maximum leverage on the standard account is capped at 1:30.
Those who qualify as professional clients can apply for the professional account which gives increased leverage of up to 1:400 for certain instruments and a reduction on current margin rates, allowing you to trade with more leverage, as opposed to the limitations imposed by ESMA on retail clients. The minimum deposit for the professional account is $1,000.
To qualify as a professional client requires meeting 2 out of the 3 following guidelines, 1) Have a portfolio of greater than $500k (not including property or cash) 2) Have a verified history of placing significant sized positions (down to broker discretion) 3) Have worked in the capacity of a professional position related to derivatives / speculation / trading. Match any two of these requirements to qualify as a professional client.
It is important to note that negative balance protection, Investor Compensation Fund and recourse to the Financial Ombudsman Service is removed should you qualify for a professional account as you are then classified as professional trader under ESMA regulation.
One Financial Markets offer a black account which gives you access to your own personal broker who will ensure a thorough understanding of your objectives, provide bespoke reports driven by informed research to help you identify goals and optimise your trading portfolio. Whatever your background or experience, the brokers bespoke black account can be tailored to each individual.
One Financial Markets demo accounts enable you to develop your trading skills in a risk-free environment. You can setup a demo account with virtual funds to practice your trading strategies and get a feel for the brokers trading environment.
- Trade risk free with $10,000 of virtual funds
- Develop your trading strategies
- Practise online and on our mobile apps
- Competitive trading conditions
One Financial Markets support Muslim traders with Sharia compliant Islamic accounts that do not incur any interest fees. It is always good to see a broker that supports clients with different religious beliefs but it is something you should expect nowadays from most brokers.
One Financial Markets have a dedicated customer service team located around the world, available via live chat, telephone and email to offer you multi-lingual support 24 hours a day. I found the support team easy to deal with and have been with the responses that I have received. I also like how they have taken time to respond to feedback online, both positive and negative.
One Financial Markets have a good variety of convenient methods for depositing and withdrawing funds from your trading account. This includes bank wire, credit/debit card and online payment systems for quick and easy funding. Please note that some methods may only be available to specific countries and not all are available for both deposit and withdrawal. They do not currently provide crypto funding but Hugo’s Way do if that is something that you are specifically looking for.
Some fees may be charged when using certain payment methods. Withdrawal requests are processed within the same day or next if outside working hours. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant. I prefer digital wallets as I find them to be the most convenient way to move funds around between my trading accounts.
Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries. One Financial Markets strictly does not accept third-party payments. All funds deposited into your trading account must be under the same name as your One Financial Markets trading account.
|This Broker||AvaTrade||IG||IC Markets|
|Regulated||ADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSA||ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA||ASIC, CySEC, FSA, SCB|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Bonds|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API||MetaTrader 4, MetaTrader 5, cTrader|
|Funding||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets|
Overall, I like how One Financial Markets is a regulated online broker with a reasonable selection of trading instruments accessible via the powerful and intuitive MetaTrader platforms which can run on multiple devices. The broker has an abundance of educational materials to empower informed trading. The option to use Trading Central and the free bespoke indicators can help with market analysis. They also have a selection of convenient account funding options and offer 24-hour support. Despite the positives, I do believe that One Financial Markets could improve by implementing more liquidity providers so they could deliver tighter spreads. Furthermore, social trading platform integration could also be beneficial to traders as would frequently updated daily market analysis. That being said, I think they are worth consideration for anyone looking to trade without hassle and in a regulated environment.
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