N1CM
Pros and Cons
Pros
- Regulated by the Vanuatu Financial Services Commission (VFSC)
- Leverage up to 1:1000 across all account types
- Competitive spreads starting from 0.1 pips
- Supports multiple trading platforms: MT4 and MT5
- Diverse range of trading instruments, including Forex, cryptocurrencies, and commodities
Cons
- Regulated by Vanuatu Financial Services Commission only
- Limited range of trading instruments (no stocks or ETFs)
- Only supports MetaTrader 4 platform
- Reports of delayed withdrawal processing
- Lack of comprehensive educational resources
Basic Information
User Reviews
N1CM Overview
Founded in 2016 and headquartered in Comoros, N1CM (Number One Capital Markets Limited) is a forex broker that offers a range of trading services across various financial markets. Although it initially held a regulatory license from the Vanuatu Financial Services Commission (VFSC), this license has since been revoked. As a result, traders should exercise caution, as the lack of valid regulation raises potential risks. N1CM provides access to multiple trading instruments, allowing users to engage in forex trading and more, but the broker’s regulatory status should be a significant consideration for prospective clients.
Is N1CM Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Vanuatu Financial Services Commission (VFSC) | Vanuatu | Segregated Funds, Negative Balance Protection |
Is N1CM Regulated and How Are Client Funds Protected?
N1CM (Number One Capital Markets) is regulated by the Vanuatu Financial Services Commission (VFSC), which oversees financial services in Vanuatu. While the VFSC is less prominent compared to other global regulatory bodies, N1CM ensures client fund safety through several protective measures. Client funds are held in segregated accounts with reputable financial institutions, reducing the risk of misuse. Additionally, N1CM offers negative balance protection, ensuring that clients cannot lose more than their deposited amounts, thereby enhancing the overall safety of trading with this broker. Moreover, the implementation of secure technology, such as 128-bit SSL encryption, further safeguards clients’ personal and financial information.
Trading Products and Services
What trading instruments does N1CM offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/USD, USD/JPY, GBP/JPY | 50+ |
| Commodities | Gold, Silver, Crude Oil, Natural Gas | Many |
| Indices | S&P 500, NASDAQ, FTSE 100, DAX | 10+ |
| Stocks | Apple, Tesla, Amazon, BP, Vodafone | 100+ |
| Cryptocurrencies | BTC, ETH, XRP, LTC | Many |
N1CM offers a diverse range of trading tools across multiple asset categories, catering to various trading strategies and experience levels. With over 50 Forex pairs available, including major, minor, and exotic options, traders can engage in a dynamic trading environment. The inclusion of commodities, indices, stocks, and cryptocurrencies allows beginners and seasoned professionals alike to build a balanced portfolio. This variety supports flexible trading strategies and encourages portfolio diversification, enabling users to adapt to changing market conditions effectively. Whether you are a technical trader looking to capitalize on short-term fluctuations or a long-term investor seeking stability, N1CM’s comprehensive suite of products is designed to meet your needs.
Account Types and Trading Conditions
What Account Types and Fees Does N1CM Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Demo Account | Beginners | No financial risk with a virtual balance, access to real market conditions. | Ideal for testing strategies and learning trading platforms. |
| Standard Account | General traders | Low spreads from 0.8 pips, no commissions, and micro lot trading allowed. | Minimum deposit of $10, suitable for a wide range of trading activities. |
| ECN Account | Experienced traders | Lowest spreads starting at 0.5 pips, fast execution, and a commission of $2.5 per side. | Minimum deposit of $10, designed for high-frequency trading. |
Account Opening Process
To open an account with N1CM, potential clients must follow a straightforward process: First, fill out the application form providing personal information. Next, submit employment and financial information as part of the verification process. Identity verification is essential, requiring valid identification and proof of address documentation. Once the account is set up, clients have the flexibility to upgrade their accounts, such as moving from a Standard to a Professional account, as their trading needs evolve.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $2.5/lot) | Competitive spreads for major pairs. |
| Forex (GBP/USD) | 0.9 | $0 (ECN: $2.5/lot) | Market orders executed swiftly. |
| CFDs (Gold) | 0.5 | $5 per lot | Tight spreads available. |
| CFDs (Oil) | 0.6 | $5 per lot | Competitive pricing on commodities. |
| Cryptos (BTC/USD) | 1.0% | $0 | Trading available 24/7. |
Other Fees
In addition to trading fees, clients should be aware of other potential costs associated with their accounts at N1CM. Deposit and withdrawal fees may apply depending on the method used. Inactivity fees may also be charged if there is no trading activity for a specified period. Platform usage fees are not applicable, allowing clients to use the MT4 and MT5 platforms without additional charges. Overnight interest, or swap rates, may apply for positions held overnight, and currency conversion fees could be incurred when trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does N1CM Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MetaTrader 4 | Windows, macOS, Android, iOS | 2FA, multiple order types, price alerts, technical indicators | Demo account, VPS |
| MetaTrader 5 | Windows, macOS, Android, iOS | Encryption, one-click trading, push notifications, economic calendar | Demo account, API interface |
| Web Version | Any device with internet access | Biometric login, symbol lookup, multiple order types, real-time alerts | Demo account |
| Mobile App | Android, iOS | Secure login, fast order execution, price alerts | Demo account |
Each platform offered by N1CM caters to different trading needs; for example, MetaTrader 4 is widely recognized for its user-friendly interface and robust features, making it suitable for beginners. MetaTrader 5 enhances trading capabilities with advanced tools and multiple asset classes, appealing to more experienced traders. The web version offers flexibility across devices, while the mobile app ensures that traders can manage their accounts securely and conveniently.
N1CM emphasizes mobile trading support and secure login measures, complemented by fast order execution, real-time alerts, and efficient market search tools to enhance the trading experience.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | Deposit: 1-3 days, Withdrawal: 2-5 days | Usually free, but banks may charge a fee (USD 15-30 for international wires) | Min Deposit: 100 USD, Max Withdrawal: 50,000 USD/day | USD, EUR, GBP, JPY, AUD |
| Credit/Debit Card | Deposit: Instant, Withdrawal: 1-3 days (after verification) | No platform fees, but cash advance fees may apply | Min Deposit: 100 USD, Max Withdrawal: 10,000 USD/transaction | USD, EUR, GBP |
| E-wallets (PayPal, Skrill, Neteller) | Deposit: Instant, Withdrawal: Same day | No platform fees, but e-wallet fees may apply (1-2%) | Min Deposit: 50 USD, Max Withdrawal: 10,000 USD/transaction | USD, EUR, GBP |
| Local Payment Methods (GrabPay, FasaPay, POLi, etc.) | Deposit: Instant, Withdrawal: 1-2 days | No platform fees, but local fees may apply | Min Deposit: 10 USD, Max Withdrawal: Varies by method | Supports local currencies |
Compliance & Security Background
Withdrawals must return to the original payment method due to anti-money laundering (AML) and know-your-customer (KYC) requirements, ensuring traceable fund flows. First-time large withdrawals (typically over 2,000 USD) require identity documents (passport) and address proof (utility bill), with additional scrutiny for suspicious transactions.
Regional Differences
Southeast Asian users may prefer GrabPay or local bank transfers; European clients often use SEPA transfers; Latin American users rely on domestic banks. Note that US users cannot use Skrill; some Middle Eastern countries limit PayPal. Partner banks in Japan may offer zero-fee transfers.
Cost Optimization Tips
- Small Deposits (<1,000 USD): Prioritize e-wallets or credit cards for instant, fee-free deposits.
- Large Deposits (>5,000 USD): Use bank transfers or SEPA for a lower total cost despite slower processing times.
- Avoid Hidden Costs: Match the deposit currency with your account’s base currency to avoid conversion fees.
- Multi-base Currency Accounts: Select brokers with several base currency options to minimize cross-currency fees.
How to Withdraw
To withdraw funds from your account, follow these steps:
- Log in to your account on the N1CM website or app.
- Navigate to the withdrawal section.
- Select your preferred payment method.
- Enter the withdrawal amount, adhering to minimum and maximum limits.
- Confirm the transaction and submit your request.
Ensure that your identity is verified, especially for large withdrawals, to comply with AML regulations.
Customer Support
N1CM Customer Support Overview
Support Channels
N1CM offers a variety of contact methods to ensure that customers receive the help they need promptly. The primary support channels include:
- Email: Customers can reach out via email for detailed inquiries, ensuring a written record of their communications.
- Live Chat: For immediate assistance, live chat is available on the website, allowing for quick responses to urgent questions.
- Telephone: A dedicated support line is available for customers who prefer speaking directly with a representative.
- Social Media: N1CM is active on various social media platforms, providing another avenue for support and updates.
Service Availability
N1CM’s customer support is available 24/5, ensuring assistance during the trading week. Additionally, the support team is multilingual, providing help in several languages, including English, Spanish, and Mandarin, to cater to a diverse clientele.
Additional Resources
To enhance the trading experience, N1CM offers various educational resources, including:
- Video Tutorials: A library of tutorials that cover platform usage and trading strategies.
- Webinars: Regular webinars hosted by experts, focusing on market analysis and trading tips.
- Market Analysis: Daily market reports and insights to help traders make informed decisions.
- Trading Signals: Insights and signals provided to assist traders in executing their strategies effectively.
Overall, N1CM is committed to delivering exceptional support and service to its customers, ensuring they have the resources and assistance needed to succeed in their trading endeavors.
Frequently Asked Questions
N1CM prioritizes the security of client funds by utilizing tier 1 liquidity providers and segregating client accounts from company funds. This ensures that your funds are protected and can be accessed at any time. Additionally, we employ advanced encryption technology to safeguard all transactions.
No, N1CM does not impose any restrictions on trading styles. Traders are free to use various strategies, including scalping and hedging. We provide a robust trading environment that supports diverse trading methodologies.
Yes, N1CM is a fully licensed and regulated global forex and CFD broker. We adhere to strict regulatory standards to ensure transparency and fair trading practices, providing our clients with a reliable trading experience.
If you encounter any issues with the trading platform or require assistance, you can reach out to our dedicated customer support team. We offer support through various channels, including email, phone, WhatsApp, and live chat, ensuring that you receive timely help whenever you need it.
Related Forex Brokers
Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.