Independent Review - T1Markets
T1Markets gives a good first impression, appearing to have everything the trader might want to have a successful experience in the markets. The website itself is easy to navigate and uncluttered, which is a pleasure. You can easily find the legal documents that govern the relationship between broker and client, you can see the trading conditions, and the registration and regulation of the broker by the Cyprus Securities and Exchange Commission. There is a comprehensive education portal and it is easy to locate any other information you might need. The one thing we miss is the availability of the MetaTrader 4 desktop application, but at least the broker offers MT4 mobile and WebTrader.
T1Markets was launched in 2020 in Cyprus as a broker brand under the parent company General Capital Markets Ltd. They have company registration number HE345774 and license number 333/17 from the Cyprus Securities and Exchange Commission (CySEC). As an online broker they offer six different asset types as CFDs including equities, indices, commodities and metals, cryptocurrencies, and forex.
There are three basic account types – Silver, Gold, and Platinum. Then there is a Professional version for each account that offers better leverage, and a demo account for testing the broker platform or trading strategies.
Overall everything looks to be acceptable, plus the broker is well regulated, so does that mean they’re a good broker? That is what we’ll find out throughout the rest of this review.
T1Markets is regulated by the Cyprus Securities and Exchange Commission, which means they are under the watchful eye of one of the best regulatory agencies in the world. It also means that clients are covered under the Investors Compensation Fund, which provides up to 20,000 to investors if the broker cannot meet its financial obligations. And all client funds are held separate from business funds in segregated accounts. The CySEC regulation grants users’ great security and peace of mind.
T1Markets has just three different account types, which keeps things simple and streamlined. The basic account is called Silver and it is designed for beginning traders for the most part. It offers 1:30 leverage and a variable spread. Moving up to the Gold account, clients get variable spread, and a 25% discount on swaps as well as a free VPS solution. The Platinum get variable spread while also increasing the swap discount to 50%.
In addition to the above all account types receive a dedicated account manage and are available as swap-free Islamic accounts. There is also an option for a demo account that can be used to test the broker’s platform and execution.
T1Markets has six asset types and over 350 individual assets.
- Forex CFDs are available for more than 45 currency pairings.
- Over 30 different cryptocurrency CFD pairs are available.
- Trade CFDs on metals and energies.
- Trade over 20 CFDs on commodities.
- A selection of 20+ global equity indices CFDs.
- CFDs on more than 45 individual stocks.
T1Markets has the MetaTrader 4 Web Trader and mobile app, but not the desktop version of this award-winning trading platform. There are hundreds of indicators available for the desktop version that are not available in the Web Trader or mobile app, not to mention a host of other powerful features such as the Expert Advisors.
Putting that aside the choice of MetaTrader 4 as the trading platform is a good one, and both the Web Trader and mobile app are excellent for order entry and order management. The Web Trader also has over 30 indicators built-in, making it useful for some basic technical analysis.
T1Markets gives its clients several deposit options, including bank transfer, debit, and credit cards, and over one dozen eWallets. They charge no deposit fees. Plus, they accept deposits in many different currencies including EUR, USD, GBP, AUD, JPY, NZD, CAD, and CHF.
As for withdrawals, they must use the same method as the deposit, and third-party withdrawals are not accepted. The broker also charges €50 when a withdrawal is made from an account with 1 or fewer completed trades.
T1Markets provides customer support from 7:00 GMT to 17:00 GMT on Monday through Friday. Support can be contacted using email, telephone, or a web form, as well as via online chat from the broker website.
If you will not miss MetaTrader 4 desktop there’s no reason to avoid trading through T1Markets. They have the CySEC regulation that is so important to client security, and the perks available with all the account tiers is nice. Plus, professional traders can get access up to 1:200 leverage, so that should work for them.
Extended customer support hours would be nice, but it is good that all clients get a dedicated account manager. While the more than 350 assets offered are enough to find trading opportunities in nearly any market conditions, more selection in stocks would really be nice.
Ultimately, we can get behind trading with T1Markets, especially if we were looking for the convenience of the MetaTrader 4 Web Trader and mobile app.