Independent Review - 1Market
When it comes to easy ways to make money trading is certainly not one of them. Oh, sure it seems like it should be easy, and there are many brokers out there claiming quick and easy profits, but it does not work that way. Successful traders need dedication and a work ethic, and they put in many hours to hone their trading skills.
That is what makes it even more important to find a good broker to trade through. No one wants to put in all that effort, only to see their trading sabotaged by a sub-par broker.
1Market is a brand-new broker, but they are already making a good name for themselves, garnering two prestigious Top Forex Awards in 2021.
It is often difficult to find information regarding new brokers, so read on to dig into the details of 1Market.
1Market is an increasingly popular forex and CFD broker that just came on the scene in 2021. It is best known in the European Union, but also has a division offering global trading services. With over 650 assets available there is something for every trader. Forex is particularly well represented, but there is no shortage of other assets.
With MetaTrader 5 as the trading platform there are over 120 technical indicators to help find appropriate entries and exits. The company works under the motto “Trading for All” and makes that a reality through their proprietary 1nsight tool that uses collective ‘wisdom’ to garner valuable trading intel as you trade.
Traders can also take advantage of a wide array of account types and traders based in the European Union also enjoy regulation by the Cyprus Securities and Exchange Commission (CySEC) and all the protections that offers.
There are a number of things to look for in an online broker. Fees are certainly important, as is the trading platform and conditions. Another important consideration is regulation, and 1Market has traders covered.
The 1Market brand is operated by Podora Ltd. and is licensed in the Marshall Islands under license number 1078238. That covers global traders, however it is also regulated by the Cyprus Securities and Exchange Commission so that services are offered to the European Union.
This is made possible because Cyprus is a member of the EU, which means the regulatory framework used by CySEC is MiFID compliant. This directive provides regulations and standards to increase the trustworthiness and coherence of forex and CFD brokers across the shares economic area.
The European Union is quite strict when it comes to trading regulations and having CySEC regulation provides traders with several protections such as segregated accounts and negative balance protection.
The CySEC license number of the company is 366/18.
When you create an account at 1Market you will first need to decide what level account you would like. The broker provides six different levels, with each higher level providing additional benefits and perks. The six account levels are named as follows:
- Mini Account
- Standard Account
- Gold Account
- Platinum Account
- Diamond Account
- VIP Account
With so many choices there is obviously something for everyone. The mini account is a great place for beginners to get started, and the minimum deposit of $250 makes it accessible for most. Traders will also have access to live support, trading signals, and the 1insight live feed.
Moving up to the Standard account level gives traders access to MetaTrader 5 as a trading platform, but also requires a minimum deposit of $1,000.
Once you move up to the Gold and Platinum accounts you will find features that are suitable for more advanced and experienced traders. Minimum deposits for the two account types are $5,000 and $10,000 respectively.
The top tiers are called the Diamond and VIP accounts, and these account levels are exclusive to professional traders and those who are heavily capitalized. They come with minimum deposits of $50,000 and $100,000 respectively, but also offer traders specialized services that benefit experienced traders.
Traders are also able to take advantage of a Professional designated account if they can meet the stringent requirements. Trading conditions for the Professional account remain the same in most features, however the Professional account can access leverage of up to 1:400, and also enjoys extremely fast execution speeds.
Beyond the accounts already discussed there are demo accounts available where traders can test new trading strategies. There are also Islamic accounts available that meet Sharia-specific laws for Muslim traders.
Traders will gain access to all the top assets that you would expect to find at a top forex and CFD broker. All together there are over 650 individual assets broken down into five categories:
Traders will enjoy access to major, minor and exotic forex pairs, including the most popular EUR/USD and GBP/USD pairs. Commodities offered include crude oil, and the always popular gold and silver. Indices and ETFs are also well represented, with dozens of each, while the stock asset is the most represented with over 450 of the top global stocks made available as CFDs. One notable exclusion is cryptocurrencies, which are increasingly popular among traders.
There are two platforms for traders to choose from at 1Market. The first is a WebTrader, which runs in all major browsers and gives traders market access and the ability to analyze markets and discover emerging opportunities. It is perfect for those who do not want to download software to their computers.
Once a trader reaches the Standard Account level, they can also choose to download the world-class MetaTrader 5 platform. This is one of the top trading platforms and is familiar to anyone who has experience in the forex and CFD markets. MT5 offers powerful analysis tools, detailed charting, and the ability to trade from the chart.
The proprietary 1nsight-driven trading environment consists of two core elements: 1nsight Feed – the live streaming pool of market events and our Trading Gauge showing you how the community reacts in real time. This allows you to easily spot any trends, price swings, or breakouts as a result of macroeconomic releases like the GDP, PMI, CPI, etc. Each event shows buy/sell ratios for an asset as well as valuable insights on how the current market action compares with the norm.
As you would expect from a top broker, you can use several methods for funding your account, or for making withdrawals. This includes bank transfers, credit and debit cards, a number of e-wallets, and more. With so many options there is bound to be a solution that works for everyone.
It is also good to see that there are no fees imposed by 1Market of deposits and withdrawals, however there could be fees imposed by the bank or payment processor. Traders need to check with the processor to determine if there will be fees. In addition, while 1Market processes all deposits immediately, there could be additional delays from the payment processor or bank.
Customer support at 1Market is available 24 hours a day Monday through Friday. It is also available in 11 different languages, which is very convenient for traders who speak languages other than English. Customer service representatives can be reached via online chat, email, an online web form, or by telephone.
Webform: Contact Support
After doing a full review of 1Market it seems apparent they are a strong forex and CFD broker, and an excellent addition to the industry. With CySEC regulation and more than 650 assets to choose from traders can feel secure in their trading, while also able to take advantage of opportunities as they develop.
It was good to see the world-class MetaTrader 5 offered as a trading platform, and we feel that the 1nsight tool provided by 1Market delivers exceptional value as well. It would be nice to see cryptocurrencies added to the trading mix, but otherwise everything is well presented and laid out.
As a new broker it will take time for 1Market to develop a reputation, but the good trading conditions offered by the broker, combined with CySEC regulation recommend it to both new and experienced traders alike.
Redeposit bonuses for professional clients