N1CM Review 2024
General Overview
This N1CM broker review will examine the various features of this forex and CFD trading platform. Established in 2017, N1CM (Number One Capital Markets) is based in Vanuatu and operates under the regulation of the Vanuatu Financial Services Commission (VFSC). The broker provides a diverse range of trading instruments, which includes forex pairs, indices, commodities, shares, cryptocurrencies, and precious metals. With a maximum leverage of up to 1:1000 and a low minimum deposit requirement of just $5, N1CM offers accessible trading opportunities for both novice and experienced traders. Throughout this review, we will explore N1CM’s trading platforms, account options, spreads, customer service, and other essential features.
Trust & Safety
N1CM is regulated by the VFSC (Vanuatu Financial Services Commission) with license number 15035. Although the regulation provided by the VFSC is not considered top-tier, it does offer a certain degree of oversight. However, it’s essential for traders to understand that the protections offered by the VFSC may not be as comprehensive as those from more stringent regulators like the FCA or CySEC. Nevertheless, N1CM has instituted several security measures, including two-factor authentication and negative balance protection, to enhance the safety of client accounts. These measures contribute to the protection of traders’ funds and personal information, establishing N1CM as a relatively secure option within the market.
Is N1CM Regulated?
N1CM operates under the oversight of the VFSC in Vanuatu. This offshore regulation ensures a basic level of compliance, confirming that the broker adheres to specific legal and financial standards. However, since the VFSC lacks the stringent criteria of top-tier regulators, traders should be cautious, particularly if they value strong regulatory security.
Is N1CM Safe?
N1CM incorporates crucial safety measures, including segregated client funds and two-factor authentication. Furthermore, the provision of negative balance protection helps shield clients from incurring debts. While these features make N1CM relatively safe, traders should remain cautious due to its offshore regulatory status. It is always advisable to consider the risks linked with high-leverage trading and the broker’s regulatory standing before engaging in substantial trading activities.
Fees
N1CM boasts competitive trading fees across its various account types. With spreads commencing as low as 0.1 pips on specific instruments, this broker facilitates a cost-effective trading environment. Additionally, N1CM does not impose commissions on most account types, making it an appealing choice for traders who appreciate a straightforward fee structure. For the ECN account, a nominal commission of $2.5 per lot is charged, which aligns with industry standards. Regarding non-trading fees, N1CM does not charge for deposits or withdrawals, allowing for efficient fund management. For further details about the fee structure, please check our detailed N1CM fees section.
N1CM Spreads
The spreads at N1CM differ based on the type of account. For the Cent account, spreads begin at 0.9 pips, while the Standard account offers spreads starting at 0.8 pips. The ECN account provides even tighter spreads, beginning at 0.5 pips. This versatility enables traders to select the account type that best aligns with their trading style and financial plan. For those who prioritize cost-efficiency, N1CM’s spreads are competitive within the industry, especially for forex pairs like EUR/USD.
N1CM Trading Fees
N1CM features commission-free trading on the Cent and Standard accounts, making it ideal for beginners and low-volume traders. The ECN account, however, incurs a $2.5 commission per lot traded, in exchange for tighter spreads. Overall, N1CM maintains a transparent and competitive fee structure, free of hidden charges. The absence of deposit and withdrawal fees is another advantage for traders aiming to keep their expenses minimal.
N1CM Non-Trading Fees
One significant benefit of trading with N1CM is the lack of non-trading fees. There are no costs associated with deposits, withdrawals, or account maintenance. However, traders should be aware of potential swap fees applicable to overnight positions. These fees fluctuate depending on the instrument and whether the position is long or short, with details available on the broker’s website. To learn more about N1CM’s fees, refer to our N1CM fees section.
Trading Platforms
N1CM grants access to two of the most favored trading platforms in the industry, MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Each platform is equipped with advanced charting capabilities, technical indicators, and the precision necessary for executing trades effectively. MT4 is especially renowned among forex traders, while MT5 introduces additional functionalities such as more order types and integrated economic calendars. Traders can utilize both platforms across desktop, mobile, or web interfaces, ensuring accessibility and flexibility.
N1CM MetaTrader 4 (MT4)
N1CM provides the MetaTrader 4 platform, celebrated for its intuitive interface and robust features. MT4 includes a comprehensive range of technical indicators, charting tools, and options for automated trading, making it a favored choice for forex enthusiasts. The platform also supports one-click trading, enabling swift order execution during volatile market conditions.
N1CM MetaTrader 5 (MT5)
For those seeking advanced capabilities, N1CM also offers the MetaTrader 5 platform. MT5 features additional tools like a greater variety of chart timeframes, advanced order types, and an economic calendar. This platform is suited for traders interested in not only forex but also CFDs on stocks, indices, and cryptocurrencies. MT5 further provides a multi-threaded strategy tester, facilitating backtesting of trading strategies with ease. For more insights into the platforms, refer to our N1CM review.
Tradable Instruments
N1CM provides a broad spectrum of tradable instruments, encompassing forex, indices, commodities, shares, cryptocurrencies, and precious metals. This diverse selection allows traders to diversify their portfolios and capitalize on various market opportunities. With over 50 available currency pairs, including major pairs like EUR/USD and GBP/USD, as well as minor and exotic options, N1CM presents numerous trading possibilities. Furthermore, CFDs on indices like the S&P 500 and commodities such as gold and oil are also accessible. Discover more about the available trading instruments in our N1CM review.
N1CM Available Currency Pairs
N1CM grants access to more than 50 currency pairs, featuring major, minor, and exotic selections. With flexible leverage up to 1:1000, traders can take advantage of both short-term market fluctuations and long-term trends. The competitive spreads, starting from 0.1 pips, render forex trading cost-effective for both novice and seasoned traders. Notable pairs like EUR/USD and USD/JPY are available with tight spreads and favorable trading conditions.
N1CM Offered Commodities
N1CM enables traders to explore commodities markets, including energy products like crude oil and natural gas, in addition to metals like gold and silver. These instruments are popular among traders aiming to hedge their portfolios or capitalize on economic factors influencing commodity prices. The low margin requirements set by N1CM make commodities trading accessible to all participants in the market.
N1CM Cryptocurrencies
N1CM also facilitates cryptocurrency trading by offering CFDs on well-known digital currencies such as Bitcoin, Ethereum, and Litecoin. The inherent volatility of the crypto market allows traders to exploit significant price swings. With leverage available for cryptocurrency trading set at 1:1000, traders have the potential to amplify their gains, although this also heightens risk. This structure provides a straightforward avenue for traders to engage with cryptocurrencies without the complexities involved in managing digital wallets or exchanges.
Account Types
N1CM offers three distinct trading account types: Cent, Standard, and ECN, each tailored to accommodate various trading preferences and experience levels. With low minimum deposit thresholds and competitive spreads, N1CM caters to both novice and seasoned traders. For an in-depth exploration of the available account options, please check our detailed N1CM account types review.
N1CM Cent Account
The Cent account is designed for newcomers or those wishing to trade with a smaller capital base. With a minimum deposit of just $1, this account type offers floating spreads that start at 0.9 pips and features commission-free trading. It serves as an excellent option for traders wanting to gain real-world trading experience while keeping risks at a minimum.
N1CM ECN Account
The ECN account is intended for more experienced traders who demand tighter spreads, beginning from 0.5 pips, and direct access to liquidity providers. This account type has a minimum deposit requirement of $10 and incurs a commission of $2.5 per lot traded, making it ideal for high-volume traders looking for optimal execution and pricing.
Customer Support
N1CM offers customer support through various channels, including live chat, WhatsApp, Telegram, and email. The support team is available from 06:00 to 15:00 GMT, Monday through Friday, ensuring traders can access assistance when necessary. The broker also features a comprehensive FAQ section on its website to address common questions. For further information, visit our customer support section.
Allowed Countries
Education
N1CM provides a variety of educational resources aimed at helping traders enhance their skills. These include eBooks, market analyses, and a free economic calendar. The educational materials are structured to support both beginners and experienced traders in refining their trading strategies and staying updated on market trends.
Education
N1CM features a first deposit bonus of 35% along with a redeposit bonus of 25%, with a maximum bonus cap of $5,000. However, traders should thoroughly review the terms and conditions tied to these bonuses before opting in, as they may carry strict requirements.
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