About N1CM
General Information
N1CM, legally named Number One Capital Markets Limited, is an online broker headquartered in Moroni, Comoros, with a registered address at Moroni magoudjou, No:2, Rue Travaux Publics. Founded on December 12, 2018, the broker provides trading services in multiple financial markets, including forex, metals, commodities, indices, stocks, and cryptocurrencies.
The broker positions itself as suitable for traders of all levels, with a particular focus on beginners and those seeking high leverage. Despite its offshore base, N1CM has attracted a global client base, as evidenced by the volume of online reviews.
Regulation
N1CM holds a Forex Trading License (EP) from the Vanuatu Financial Services Commission (VFSC) under license number 15035. This is an offshore regulatory framework that provides limited oversight compared to top-tier regulators like the FCA or ASIC. Traders should note that the VFSC does not have stringent capitalization or client fund segregation requirements, which is a factor to consider when evaluating the broker's reliability.
Account Types
The broker offers three account types: ECN, Standard, and Demo. The ECN account requires a minimum deposit of $10 and offers maximum leverage up to 1:1000, spreads from 0.5 pips, and a commission of $2.5 per side. The Standard account also has a $10 minimum deposit and leverage up to 1:1000, with spreads from 0.8 pips and no commission. The Demo account provides virtual funds for practice, with leverage up to 1:1000 and spreads from 0.0 pips.
These account options cater to different trading styles: the ECN account for cost-conscious traders and scalpers, and the Standard account for those who prefer no commissions. The high leverage is a notable feature, allowing traders to open large positions with a small capital outlay.
Platforms and Instruments
N1CM supports the popular MetaTrader platform (MT), which is known for its stability, advanced charting tools, and compatibility with Expert Advisors (EAs). The broker offers a range of tradable instruments including forex pairs, metals, commodities, indices, stocks, and cryptocurrencies. This broad selection allows traders to diversify their portfolios within a single account.
The platform is praised in reviews for fast execution and stable connections, which are essential for day trading and automated strategies.
Deposits and Withdrawals
N1CM primarily facilitates deposits and withdrawals through PerfectMoney, a popular e-payment system. Crypto deposits, particularly USDT, are also accepted and reportedly processed within one day. According to the broker's description, withdrawal fees are minimal, with only system processing charges applied.
However, it is important to note that although deposits are accepted quickly, withdrawal processing times have been a point of contention among users, with some reporting significant delays.
Target Audience
N1CM is marketed towards new traders and experienced traders alike, with features such as high leverage, low minimum deposit, and bonuses. The broker also offers a demo contest, which can be attractive for beginners to test strategies without financial risk. The availability of EAs and crypto trading adds to its appeal for a broader audience.
Given its offshore regulation and the nature of its offerings, N1CM is best suited for traders who are comfortable with higher risk and are primarily focused on trading conditions rather than regulatory safety nets.
Overview compiled by FXCanary from regulatory records and public data. full N1CM review