N1CM vs Woxa

N1CM vs Woxa Comparison Table 2024
N1CM Woxa
3.3
2.8

N1CM is an offshore forex and CFD broker launched in 2017 and based in Vanuatu. The brand offers highly leveraged trading on nearly 100 instruments via the MetaTrader 4 and MetaTrader 5 platforms. The brokerage also offers a range of account types including a raw spread account with low commission fees, which will appeal to active forex traders.

Woxa is an STP broker established in 2021 and regulated by the Financial Services Commission (FSC) in Mauritius. Over 2000 CFDs are available spanning popular asset classes, including forex, stocks, indices, commodities and crypto. Woxa offers an in-house web platform, alongside a mobile app and copy trading service.

Customer Reviews
3.3
Bonus Offer
35% Welcome Deposit Bonus $50 Welcome Bonus
Comment by Reviewer
"N1CM will satisfy forex traders seeking high leverage up to 1:1000 with an offshore broker. The low $5 deposit and Cent account will appeal to beginners in particular. On the negative side, the broker's regulatory status is weak." "Woxa is best for beginners looking for a low minimum deposit, easy-to-use platform and social investing features. However, it seriously trails alternatives in several key areas, including safety, trading fees and customer support."
Pros
  • Both MetaTrader 4 and MetaTrader 5 platforms
  • Low minimum deposit and withdrawal limits
  • 1:1000 maximum leverage
  • Free educational resources
  • Welcome bonus
  • ECN execution
  • The trading platform is very easy to use thanks to its modern design and intuitive navigation
  • TradingView's charting package is excellent with 100+ indicators and drawing tools
  • The $25 minimum deposit is lower than most alternatives and accessible for beginners
  • It is really easy to open a Woxa account – taking less than 5 minutes
Cons
  • Paper trading only available on verified accounts
  • Not as trustworthy as alternative brokers
  • Wide spreads for the classic account
  • Weak regulatory status
  • No VPS service
  • Woxa is still relatively new with weak regulatory credentials and limited safeguards
  • Spreads came in above average during testing, especially on currency pairs
  • The Academy is good for learning the basics but offers little for experienced traders
  • Traders can't use the MetaTrader platforms and algo trading isn't supported
  • Woxa seriously lags behind top brokers when it comes to market research tools
  • Investors can only deposit with wire transfer and there is a fee for non-USD transfers
  • The copy trading service doesn’t compete with industry-front runners
  • Customer support was unreliable during testing
Awards
  • 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
Instruments
Forex, Indices, Commodities, Shares, Cryptocurrencies, Metals CFDs on Forex, Commodities, Stocks, Indices, ETFs
Demo Account
Yes Yes
Minimum Deposit
$5 $25
Trading Platforms
  • MT4
  • MT5
  • Woxa Platform
  • App
Payment Methods
Minimum Trade
0.01 Lots 0.01
Regulator
VFSC FSC
Margin Trading
Yes Yes
STP Account
No Yes
ECN Account
Yes No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
No No
Mobile Apps
iOS & Android iOS & Android
App Review

Woxa offers a user-friendly mobile app where you can speculate on 29 currency pairs, including majors and minors. Charts have been optimized for mobile and tablet devices and you can manage your account and speak to customer support. The forex app is available on iOS and Android devices.

Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes Yes
Copy Trading Platform
Follow the trades of experienced users by acting on signals provided in the MetaTrader platforms. But while actionable signals are useful, other brokers provide more user-friendly and sophisticated copy trading services. The CopyTrade service at Woxa allows you to copy the strategies of experienced investors. You can pick master traders based on various metrics, including total returns, risk ratings and trading timescales. However, it trailed best-in-class copy trading app eToro during testing.
Social Trading
No Yes
Trade Signals
MT4 & MT5
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$0
Islamic Account
No No
Account Currencies
  • USD
  • USD
Stock Exchanges
Commodities
CFD Trading
Trade CFDs on forex, stocks, commodities, indices and cryptos with leverage ranging from 1:25 to 1:1000. The average 211ms execution speeds are not as fast as our top-rated options, but the broker does provide deep liquidity and features such as negative balance protection. Woxa offers a good breadth of CFDs covering popular asset classes, from stocks, indices and forex to commodities and cryptos. High leverage up to 1:400 is also available, which is more than most alternatives. You can trade CFDs on the web platform or investing app.
Leverage
1:1000 1:400
FTSE Spread
From 0.5 pips 5.38
GBPUSD Spread
From 0.5 pips 5.5
Oil Spread
From 0.5 pips 0.06
Stocks Spread
From 0.5 pips 0.53 (Tesla)
Forex Trading
Trade 50 major, minor and exotic forex pairs including EUR/GBP and USD/JPY. While not the widest selection of currencies, forex traders benefit from tighter-than-average floating spreads from 0.3 pips. Woxa offers trading on 29 currency pairs including majors, minors and exotics. However during testing, spreads were higher than the industry average at 2.0 pips on the EUR/USD. Also while you can make use of the forex-specific educational resources in the Woxa Academy, materials are not as extensive as other brokers.
Forex App

Woxa offers a user-friendly mobile app where you can speculate on 29 currency pairs, including majors and minors. Charts have been optimized for mobile and tablet devices and you can manage your account and speak to customer support. The forex app is available on iOS and Android devices.

GBPUSD Spread
1.1 average 5.5
EURUSD Spread
0.9 average 2.0
EURGBP Spread
1.1 average 7.8
Assets
50+ 29
Cryptocurrency
Trade leveraged CFDs on BTC, BCH, ETH, XRP and LTC in pairs with USD. The small selection does not offer much to traders who favor crypto, but there is enough for traders to dip into the sector's volatility. Woxa offers a slim selection of 10 cryptocurrencies, though major tokens like Bitcoin and Ethereum are available. Spreads on crypto are competitive based on comparisons with other brokers. You can trade digital currencies 24/7 with customizable watchlists.
Spread
Variable 28.2
Coins
  • BTC
  • BCH
  • ETH
  • LTC
  • XRP
  • ADA
  • BAT
  • BCH
  • BTC
  • DOT
  • ETH
  • LTC
  • SOL
  • UNI
  • XTZ
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
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