N1CM Review 2023

N1CM is #36 in our broker rankings.
Flag Traders in United States welcome

Number One Capital Markets, or N1CM, is a leveraged CFD broker with tier-one liquidity providers and 211 ms execution speeds.


  • Demo account
  • MT4 integration
  • Low minimum deposit
  • Full range of investments


  • Weak regulatory oversight
  • Best Forex & CFD Trading Platform 2022
  • Best Customer Service 2021
  • Best Forex & CFD Trading Platform 2021
  • Best Forex & CFD Trading Platform 2020
  • Best Forex Execution 2020
  • Best Customer Service 2020
Bonus35% Welcome Deposit Bonus
InstrumentsForex, Indices, Commodities, Shares, Cryptocurrencies, Metals
Demo AccountYes
Min. Deposit$5
Payment Methods
Min. Trade0.01 Lots
Regulated ByVFSC
MetaTrader 4Yes
MetaTrader 5Yes
Trading CentralNo
STP AccountNo
ECN AccountYes
DMA AccountNo
MAM AccountNo
PAMM AccountNo
LAMM AccountNo
Demat AccountNo
Mobile AppsiOS & Android
Margin TradingYes
Volatility IndexNo
Spot TradingNo
Perpetual SwapsNo
AI / Machine LearningNo
Robo AdvisorNo
P2P TradingNo
Negative Balance ProtectionYes
VPS HostingNo
Demo CompetitionsNo
Managed AccountsNo
Market MakerNo
Auto TradingEAs
Social TradingNo
Copy TradingYes
Trade SignalsMT4 & MT5
Islamic AccountNo
Account Currencies
  • USD
Guaranteed Stop LossNo
Stock Exchanges
  • Australian Securities Exchange
  • DAX GER 40 Index
  • Dow Jones
  • Euronext
  • FTSE UK Index
  • Hong Kong Stock Exchange
  • Japan Exchange Group
  • Nasdaq
  • S&P 500
  • Copper
  • Gold
  • Natural Gas
  • Oil
  • Palladium
  • Platinum
  • Silver
CFD TradingTrade CFDs with low fees and 1:1000 flexible leverage.
CFD FTSE SpreadFrom 0.5 pips
CFD GBPUSD SpreadFrom 0.5 pips
CFD Oil SpreadFrom 0.5 pips
CFD Stocks SpreadFrom 0.5 pips
CFD Leverage1:1000
Forex TradingMajor and minor currency pairs with low spreads on the MT4 and MT5 platforms.
Forex GBPUSD Spread1.1 average
Forex EURUSD Spread0.9 average
Forex EURGBP Spread1.1 average
Forex Assets50+
Crypto TradingTrade a handful of cryptos against the USD with no commissions.
Crypto SpreadVariable
Crypto LendingNo
Crypto StakingNo
Crypto MiningNo
Crypto Auto Market MakerNo
Crypto Coins
  • BCH
  • BTC
  • ETH
  • LTC
  • XRP
Risk Warning – Your capital is at risk

N1CM is a multi-asset broker through which investors can open trades on margin. With low spreads from 0.1 pips, 1:1000 flexible leverage, plus commission-free deposits and withdrawals, Number One Capital Markets is worth considering if you are interested in a new broker.

This broker review will detail the trading platforms on offer, markets you can trade, account types, fees, pros, cons and anything else you should know. Find out if our expert traders recommend signing up with N1CM.

Company Details

Number One Capital Markets, or N1CM, is a CFD broker offering contracts on popular financial markets ranging from forex and cryptos to indices and stocks.

Launched in 2017, the broker is a popular choice with clients in 88 countries. The company has headquarters in Vanuatu with additional offices in London, UK and Istanbul, Turkey.

N1CM is regulated by the Vanuatu Financial Services Commission (VFSC).

Trading Platforms

To trade with N1CM, you can use either MetaTrader 4 or MetaTrader 5. Both terminals can be accessed via browsers or through applications on your computer and mobile device.

MetaTrader 4

MetaTrader 4 (MT4) is a user-friendly trading platform created by MetaQuotes. The platform sets the industry standard for technical analysis and trade execution with its customizable charting options. The platform comes with 30 technical indicators and nine-time frames to suit day trading and swing trading.

To help with opening and closing contracts, MT4 offers one-click trading as well as algorithmic bots to automate the entire research and execution process.

If you are in need of new strategy ideas or simply want to follow an experienced trader, you can use the platform’s signals and copy trading service.

N1CM platform dashboard
MetaTrader 4

MetaTrader 5

Launched five years after MT4, MT5 offers more tools and features.

The platform comes with 38 in-built technical indicators to help with analysis as well as 21 time frames. Other additional features compared to MT4 include an economic calendar, more pending order types, an embedded community chat and a multi-threaded strategy tester.

If you want to trade forex, you can use either MT4 or MT5, however if you are opening CFDs on the other available markets you will need to use MT5.

How To Trade

  1. Sign in to your N1CM account on either the MT4 or MT5 platform
  2. Select the instrument you want to trade on
  3. Click the ‘New Order’ button
  4. Specify the order type
  5. Input the order size, leverage and side (long or short)
  6. Confirm the order

Assets & Markets

N1CM supports trading in the following markets:


The trading commission that Number One Capital Markets charges is linked to the account type and the asset you are trading on. Generally, Classic and Advanced accounts have wider spreads than Elite accounts but they also have the option for commission-free trades on forex, which is $2.5 per lot for Elite. For all indices and commodities, the commission is $6 for Classic and Advanced accounts and then $5 for Elite accounts. Trading on stocks incurs a $5 per lot fee for all three account types.

The broker also charges swap fees on overnight positions. The swap rate is impacted by the side (long vs short) and the asset. For example, N1CM’s swap fee for a short position on EUR/USD is 2 but for a long position, it is -6.

You can see the full list of swap rates on the broker’s website.

N1CM Leverage

Number One Capital Markets supports trading on margin with leverage of up to 1:1000. As the maximum leverage relates to the equity of the contract, this upper limit is only available for contracts where the equity is less than $1,000.

The minimum leverage you can use on a contract is 1:25. The stop out level is 30%.

To see the full breakdown of the permitted leverage per investment size bracket and the required margin to keep the position open, see the broker’s website.

Payment Methods


N1CM offers several methods for depositing funds into your brokerage account. This includes Visa/MasterCard credit and debit cards, e-wallets such as Perfect Money and cryptocurrencies like Bitcoin and Ethereum.

For the majority of payment options, the minimum deposit is $1, however, some come with greater limits. For instance, both USD Coin and SticPay require at least $5, Payment Asia’s minimum is $15 and debit and credit card deposits must be at least $25.

If you want to make a deposit using a currency other than USD, for example EUR or GBP, you will need to use either Payment Asia or a debit or credit card.

All deposits are processed instantly and incur a fee of $1.


For withdrawals from N1CM, you can use the same e-wallets and cryptos but debit and credit cards are not available. The minimum withdrawal limits vary according to the method. Most impose a minimum of just $2 but certain methods such as Bitcoin and Sticpay only accept requests of at least $5.

The broker aims to process withdrawals within two hours and requests can only be made in USD.

Note that to request a withdrawal you need to have a verified account.

How To Transfer Funds

  1. Log into your N1CM account
  2. Click on the ‘Finance tab from the main dashboard and select either deposit or withdrawal
  3. Choose your payment type
  4. Input the account details (for example credit card information) and the amount you want to deposit
  5. Select the N1CM account from the dropdown list that money is being deposited to or withdrawn from
  6. Choose a bonus or promotion if applicable
  7. Confirm the transaction using the ‘Create’ button
N1CM deposit options
How To Deposit

Account Types

Number One Capital Markets offer several account options:

Classic Account

Advanced Account

Elite Account

N1CM also requires its clients to complete an account verification process after registration. This involves submitting proof of identity and proof of address documents for the customer service team to review.

N1CM aims to complete the verification the same day or by the following day if you submit documents after the office has closed.

Demo Account

N1CM also offers a demo account. This is an ideal way to practice trading with N1CM without the risk that comes with using real capital.

While the broker does not charge any money to open a paper trading account, you do need to complete the account verification process.

N1CM Bonuses & Promotions

N1CM runs two promotions deals for deposits. For this first deposit you make, you can receive a cash bonus that is equal to 35% of what you transfer. For every subsequent deposit, N1CM offers a 25% bonus.

For both promos, the maximum bonus you can receive is $5,000.

Mobile App Review

N1CM itself does not have a mobile app however, both MT4 and MT5 do. You can find Google Play Store and Apple App Store download links for both Android and iOS devices through the broker’s official website.

N1CM trading app
MT4 App

These are ideal for managing your portfolio and monitoring positions while on the go. Both solutions offer in-app price alerts and notifications, charts and drawing tools, one-click trading, plus multiple order types. They essentially replicate the desktop trading experience but with mobile-optimized features.

Regulation & Licensing

N1CM is regulated by the Vanuatu Financial Services Commission (VFSC) with license number 15035.

As part of the VFCS, N1CM must comply with requirements regarding anti-money laundering and financing terrorism.

However, it’s worth noting that the VFSC is not a top-rated financial regulator. This means limited recourse options and legal protections for retail traders.

Security & Safety

N1CM offers several protective measures to help keep client accounts and their funds secure. Firstly, the broker provides two-factor authentication via apps such as Google Authenticator and Microsoft Authenticator. This way, it is more difficult for someone to gain access to your account without permission, even if they have your login details.

The broker also offers negative balance protection, which is important for investors interested in CFD trading. This helps to prevent users from becoming indebted to the broker as contracts are automatically closed once the margin from losing positions is equal to currently deposited funds.

Say you deposit $100 to your broker and using 1:10 leverage, open a long CFD contract worth $1,000. If the asset then drops in value by 10%, your contract will have decreased in value by $100, equal to your deposited funds. At this point, the broker would close the contract on your behalf as any additional losses would be more than the funds currently held in your account.

Customer Support

If you are experiencing issues with N1CM, you can seek help through the following channels. The broker’s customer support team is contactable between 6 AM and 8:30 PM GMT Monday to Friday.

Additional Features

To help investors to plan out trades and develop a strategy, N1CM offers both analysis and education. On the analysis page, you can see reviews of a range of different assets and markets from the broker’s trading experts. They provide easily digestible information offering a summary of potential upcoming price action.

On the education page, the broker offers free-to-download resources such as eBooks entitled ‘Online Trading 101’. These provide useful information that can help beginners in particular.

Additionally, Number One Capital Markets hosts a free economic calendar on its website.

Number One Capital Markets economic calendar
Economic Calendar

Benefits Of Using N1CM

When we used N1CM, our experts highlighted several advantages:

Drawbacks Of Using N1CM

While using N1CM, our traders also had some concerns:

Trading Hours

The trading hours on N1CM relate to the market you are investing in. Forex, for example, is open 24 hours a day, Monday to Friday.

Indices, however, have their own timetables. For instance, the Dow Jones 30 can be traded between 1 AM and midnight (GMT+3) whereas the FTSE 100 opens at 3 AM.

For trading on shares, you must consider the exchange. German-based stocks such as Adidas start at 10 AM and end at 9 AM whereas US stocks, for example, Amazon, are open between 4:30 PM and 11 PM.

N1CM Verdict

Number One Capital Markets is a good broker that offers trading on several asset classes. Through MetaTrader 4 and MetaTrader 5, investors have access to powerful trading platforms with which they can complete analysis to map out trades. And with the three different account types, all experience levels and trading strategies are accommodated. The only significant drawback is the limited legal oversight.

Accepted Countries

N1CM accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use N1CM from Iraq.

Compare N1CM

Compare N1CM with similar brokers that accept traders from your location. Among available brokers these are the most similar to N1CM:

  1. Kwakol Markets – Kwakol offers trading on the MT4 & MT5 platforms with high leverage & copy trading.
  2. Coinexx – Coinexx is an ECN broker with 1:500 leverage, 80+ instruments and a joining bonus.
  3. InstaForex – InstaForex is a CFD broker providing access to forex, stocks, cryptocurrencies, commodities, energies, indices, and more. With competitive fees and a huge range of available assets, the brand offers safe and reliable trading.
  4. World Forex – World Forex offers commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.

N1CM Comparison Table

Compare N1CM With Similar Brokers
N1CM Kwakol Markets Coinexx InstaForex World Forex
Rating 3.3 2.4 2.5 4.1 4
Markets Forex, Indices, Commodities, Shares, Cryptocurrencies, Metals CFDs, Stocks, Indices, Commodities, Forex, Cryptos Forex, Commodities, Indices, Cryptocurrencies Forex, shares, indices, metals, oil and gas, futures, cryptos, binary options Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts
Demo Account Yes Yes Yes Yes Yes
Minimum Deposit $5 $1 0.001 BTC $/€1 $1
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Bonus 35% Welcome Deposit Bonus 100% Deposit Welcome Bonus 30% – 100% Welcome Bonus 100% Deposit Bonus
Education No No No No No
Platforms MT4, MT5 MT4, MT5 MT4, MT5 MT4, MT5 MT4, MT5
Leverage 1:1000 1:1000 1:500 1:1000 1:1000
Payment Methods 9 4 2 9 10
Review N1CM
Kwakol Markets
World Forex

Compare Trading Instruments

Compare the markets and instruments offered by N1CM and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare N1CM Trading Instruments
N1CM Kwakol Markets Coinexx InstaForex World Forex
CFD Yes Yes Yes Yes Yes
Forex Yes Yes Yes Yes Yes
Stocks Yes Yes Yes Yes Yes
Commodities Yes Yes Yes Yes Yes
Oil Yes Yes Yes Yes Yes
Gold Yes Yes Yes Yes Yes
Copper Yes Yes No Yes No
Silver Yes Yes Yes Yes Yes
Corn No No No No No
Crypto Yes Yes Yes Yes Yes
Futures No No No Yes No
Options No No No No No
ETFs No No No Yes No
Bonds No No No No No
Warrants No No No No No
Spreadbetting No No No No No
Volatility Index No No No No No

N1CM vs Other Brokers

Compare N1CM with any other broker by selecting the other broker below.

N1CM vs


Is N1CM Legit?

Yes, N1CM is a legitimate broker that can be relied on to carry out highly leveraged trades. Through measures such as two-factor authentication and negative balance protection, you can trust N1CM to keep your account secure.

Does N1CM Accept US Clients?

Yes – N1CM does accept clients from the US. The only country that N1CM restricts customers from is Iraq. However, if Iraq-based clients complete certain checks that satisfy the customer service team, they can also register an account.

Does N1CM Offer A Cent Account?

N1CM does not offer a dedicated cent account, however, all three account types offer trading of 0.01 lots. This way, if you are interested in cent trading, you are not restricted to only one account type and only trading small volumes.

How Can I Contact The N1CM Customer Support Team?

If you need help from the N1CM customer support team, you have several options. Firstly, you can message a member of the team either through the website’s live chat function or using a messaging app such as WhatsApp, Skype and Telegram. If you want to speak to someone over the phone then call +44 2045 259759.

If the team is too busy or the office is currently closed, it may be worthwhile looking at the support center with FAQs covering topics such as registration and trading platforms.

Is N1CM Regulated?

N1CM holds a license with the Vanuatu Financial Services Commission. The license number is 15035. Note, this is not a tier-one regulator.

Number One Capital Markets, or N1CM, is a leveraged CFD broker with tier-one liquidity providers and 211 ms execution speeds.