N1CM Review

Number One Capital Markets (N1CM) is an offshore forex and CFD broker that is a relatively new entrant into the market. It has been in business for only a few years, but has some elements in its product offering that appeal to beginners and intermediate-level traders. Though not offering a VPS service, traders are able to deploy various trading styles and also use automated software on the MetaTrader platforms. This review showcases elements of N1CM's product offering.

I. Background and Company Overview of Number One Capital Markets (N1CM)

Number One Capital Markets (N1CM) operates under two brands, providing an option for traders who cannot afford the margin requirements set out by ESMA in 2018.

The Number One Capital Markets (N1CM) brand is one of the offshore brokers that are classified as high-leverage brokers, providing their clients with leverage of up to 1:1000, subject to conditions. Here are some features of N1CM that have made it fast become the toast of investors.

• Traders are assured of negative balance protection. Not many offshore brokers offer this feature, which involves the broker taking all the risks on slippage.
• New traders qualify for a first-time deposit bonus of 35% of the capital, while old traders can get a redeposit bonus subject to terms and conditions.

II. Trading Platforms and Tools

The two platforms offered on N1CM are the MT4 and MT5 platforms. The Standard and ECN accounts are the only account types compatible with the MT5 platform. The Cent account cannot be used on the MT5, so traders with that account must make do with the MT4.

In addition to using the in-built tools on these platforms, there are other tools that N1CM provides its clients. These are:

• Economic calendar: typically found on the MT5 platform.
• N1CM's Autochartist provides more than 1000 setups that traders can benefit from in a month.
• In-house experts also provide market analysis reports so traders can get some actionable insight into what the markets are doing from a fundamental standpoint.

III. Account Types and Spreads

What account types will traders on N1CM encounter?

1. Cent account
2. Standard account
3. ECN account

The Cent account is the beginner's account. It is only available on the MT4 platform and has a stop-out level of 30%. It is also a commission-free account that offers spreads that start from 0.9 pips. The minimum deposit amount is $1.

The Standard account is also a commission-free account that comes with a $10 minimum deposit requirement. Spreads start from 0.8 pips and this account can be used on the MT4 and MT5 platforms. Stop-out level is also set at 30%.

The ECN account is a commission-based account where trades attract commissions of $2.5 per Lot on each side of the trade. Spreads start from 0.5 pips, making this account the one with the lowest spreads. Also available on the MT4 and MT5, this account comes with a minimum deposit requirement of $10.

IV. Contract Specifications

What are the contract specifications found on the N1CM platforms?

• Leverage starts at 1:100 and peaks at 1:1000.
• Swap fees are charged for holding positions overnight. Some assets will result in swaps being paid to the trader on long positions, while some will result in the trader being charged for both short and long positions.
• Swaps on cryptocurrencies are charged at triple the original rate on Fridays to compensate for weekend trading.
• Swaps on other assets are charged triple the original rate on Wednesdays for other assets. A full list of swap rates are provided on the website.
• Trade volumes start at a minimum of 0.01 lots for all account types.

V. Security and Regulation

Number One Capital Markets (N1CM) is regulated and authorized by the Vanuatu Financial Services Commission (VFSC) with registration 15035.

There is no information as to what countries are restricted from accessing their services or their platforms.

VI. Customer Support and Education

How do you reach the customer support desk of N1CM if you need to do so? Make use of the following channels:

• WhatsApp: wa.me/19294984962
• Telegram: t.me/+19294984962
• Live chat
• Online web form that links to an email address

Conclusion

N1CM is another forex and CFD broker of choice if you want to try out ECN trading conditions for as low as $10.