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brokers reviews > 1market Review – Can you Trust This Brokerage Company?

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1market Review – Can you Trust This Brokerage Company?

license-icon

Licences

CySEC

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Minimum deposit

$500

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Maximum leverage

1:400

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Spreads

2 pips

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Bonus

N/A

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US Clients

No

1Market Forex Broker is an online financial platform, offering over 600 assets to its customers. The company claims to be a trusted broker giving away a lot of possibilities for online trading. At the first glance, the main webpage looks quite attractive, offering customers all the valuable information that one might need in the decision-making process. We decided to do our research and find out whether this company can be recommended to you or not. After digging out, we discovered that as mentioned on their main webpage, the company is actually licensed by Cyprus Securities and Exchange Commission (also known as CySEC), giving you a guarantee that your funds are in safe hands and you do not have to worry about money or privacy issues.

Under the trading conditions section, traders can find information about leverages. The maximum leverage is up to 1:400, however, it might differ depending on which type of account you decide to use. As for spreads, customers can enjoy a fixed amount of them starting from 2 pips on EUR/USD. 1Market FX Brokerage is rich in terms of trading tools and one can take advantage of Webtrader, and Metatrader 5, which is one of the most popular tools available on the market and used by the most reputable forex brokerage companies.

The minimum deposit amount is set to 500 USD and traders can open up to 6 different types of accounts, including Mini, standard, gold, platinum, diamond, and the VIP. We could not find any information about bonuses and promotional offers. Considering the fact that the website is wealthy in terms of information, we assume that they do not have any bonuses. It is possible to trade Currencies, commodities, CFDs, Indices, ETFs, and stocks.

1 Market review

Is 1Market Legit?

Yes, 1 Market is a legit Forex broker. As we already mentioned earlier in this review, the company is fully regulated and licensed by CySEC, under license number 366/18, giving them the authorization to offer financial services to customers throughout the European Union. This is a guarantee that if something inconvenient happens (e.g they steal your money), there is a financial regulatory body that will take all the necessary actions in order to protect you from negative consequences. The proper regulation is something that protects traders from potential scams and lets them keep their funds in safe hands – meaning that your money will only be used for trading purposes and nothing else.

1Market Review – Trading Features

In order to find out whether this platform is worth your time and money, we decided to do a more detailed review of its trading features so you will make your decision based on all the valuable information that affects the decision-making process.

Spreads

All spreads at 1Market are fixed. It is important to note that they may vary depending on market trading conditions which mostly are volatile. Fixed spreads are starting from 2 pips, which can be considered quite normal compared to the industry’s average, and if we consider the fact that the execution is instant, it can even look more attractive.

Leverage

The maximum leverage for customers is up to 1:400, which can be good and beneficial for experienced players, while for beginners it is excessive and may result in losing your money. ESMA guidelines restrict retail traders and the available leverage for them is up to 1:30, which helps traders reduce the risk of their funds. Generally, leverage allows customers to increase the size of the position they wish to trade, so it is important that you choose the platform that suits your interests in this matter the best.

Account Types

Once you decide to sign up for 1Market, you will be given free choice to choose from 6 different types of accounts including mini, standard, gold, platinum, diamond, and VIP. Each of them comes with different specifications and requirements, and they also offer specific benefits. For instance, the mini account does not include access to MetaTrader 5, while all the other types have the access to it. The higher types of accounts may offer exclusive market updates and personal notifications as well. Demo trading account option is also available meaning that you can test out their services for free, without risking any of your financial activities.

is 1 market legit

Minimum Deposit

The minimum deposit requirement for the lowest account type is set to 500 dollars which are above the industry’s average (it is somewhere between 50 and 100 USD). The other types of accounts require you to deposit more, and the amount of them starts from 1000 USD and can go up to 100000 USD for the VIP account. We need to mention the fact that there are a lot of other platforms where the minimum deposit requirement may be much lower, and it is up to you to decide which one you decide to choose.

Bonus

Bonuses give such platforms the ability to attract new customers by adding extra value to their current deposits. Some platforms offer deposit and no deposit bonuses, along with the generous welcome bonus, however, we were not able to discover such promotional offers available on 1Market, which can be considered a minus. It might be due to regulations set by financial regulatory bodies that restrict brokerage companies to attract new customers by offering them promo codes.

All in all, the trading features offered by this brokerage may look attractive to some, but they definitely don’t look attractive to us. The main reason behind this fact is that leverage, along with minimum deposits is above the industry’s average and one can find other websites offering more favorable conditions. The absence of bonuses is also something that the majority of traders might not find pleasant.

1Market – Final Verdict

Finally, we do believe that this platform definitely has some good qualities, including the reputable license which guarantees you safe trading, but with all the other trading features that may be a little excessive, we do not recommend you to use this 1Market as your trading destination.

Important news

iFOREX:

Top Forex Brokers Staff

June 26, 2022

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