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In this comprehensive review of 1Market, we will delve into the broker's offerings, user experiences, and expert opinions. While 1Market has garnered attention for its diverse trading options and advanced platforms, concerns about its regulatory status and user complaints have raised red flags among potential traders.
Note: It is essential to highlight that 1Market operates under different entities in various regions, which can affect regulatory oversight and user experiences. This review consolidates information from multiple sources to ensure fairness and accuracy.
Category | Rating (out of 10) |
---|---|
Account Conditions | 5 |
Tools and Resources | 6 |
Customer Service and Support | 4 |
Trading Experience | 5 |
Trustworthiness | 3 |
User Experience | 4 |
Overall | 4.5 |
How We Score Brokers: Our ratings are based on a combination of user feedback, expert analysis, and factual data regarding the broker's services and performance.
Founded in 2021, 1Market is a relatively new player in the online trading industry, operating from the Marshall Islands and Cyprus. The broker offers a range of trading platforms, including the popular MetaTrader 5 (MT5) and its proprietary web-based platform. Traders can access various asset classes, including forex, CFDs, commodities, indices, and stocks. However, 1Market's regulatory status has come under scrutiny, particularly after its license was suspended by the Cyprus Securities and Exchange Commission (CySEC).
1Market was initially regulated by CySEC, allowing it to operate in 27 EU countries. However, recent developments have raised concerns about its compliance with regulatory standards. The broker is now under examination, and it is crucial for traders to be aware of this status when considering their investment options.
Traders can deposit and withdraw funds in various currencies, including USD, EUR, and GBP. The broker supports several payment methods, including credit/debit cards, bank transfers, and e-wallets like Skrill and Neteller. However, the minimum deposit requirement is relatively high at $450, which may deter some new traders.
1Market does not currently offer any bonuses or promotional incentives, which is common among brokers regulated by CySEC. Instead, they focus on providing a straightforward trading environment without the complexities of bonus-related terms.
1Market offers a diverse range of tradable assets, including over 600 CFDs, forex pairs, stocks, indices, and commodities. While the selection is commendable, some users have noted that the range of available cryptocurrencies is limited compared to other brokers.
The broker's spreads vary depending on the account type. For instance, the classic account has spreads starting from 1.8 pips, while the zero spread account offers spreads from 0 pips but incurs a commission of $