1market.com is not a so reliable Forex and CFDs broker. Many serious complaints have been raised against this broker and its business practices. But 1Market still continues to operate as usual, pretending to be a genuine Stocks and CFDs broker who is serving its clients needs and only getting 5 star reviews and commendation.
After seeing a mountain of complaints floating across the internet, we don’t believe the promises of 1market.com website anymore. We can’t recommend pairing their service with the best trading tools and systems on the internet as this will still result in loss of invested funds anyway.
That said, 1Market.com is operated out of Seychelles by a shell company called Bridge Tech Ltd. This company acts as the umbrella entity of Exelcius Prime Ltd which is said to have been licensed by the CySEC in Cyprus.
1market offers its customers a wide range of trading instruments. These include Forex, 600 stock CFDs, Indices, Commodities, ETFs and Cryptocurrencies. They offer PAMM and MAM accounts including copy trading.
The company promises fast execution, competetive spreads and excellent trader education. Generally speaking, the website is convincing enough to make even the smartest person fall for it.
1market continues to operate in a similar manner to a typical offshore Forex and CFDs broker since licensing or regulations by the CySEC means nothing much.
The company behind this broker also runs the website 1market.eu whose primarily serving traders from the EU.
We also noticed conflicting information pertaining to the ownership of this brand. In another part of the page, their marketing statements declare that 1market.com is owned by Podora LTD, a company that is situated in the offshore region of Marshall Islands.
This contradicting information is definitely a red flag because there is no clear ownership information. This also means the licensing status of this brokerage is not 100% straight-forward.
1market.com account types, spreads, minimum deposit and fees
The broker’s website presents us with multiple account types which can be accessed via the MT5 trading platform. However, the main ones are Classic, Premium and Zero Spreads.
The minimum deposit for the 1Market classic account type is €450. Leverage is in its modest 1.30.
All of their account types feature variable spreads starting 1.0 pips. However, their zero spread account type is charging a commission of $7 per lot. Spreads do not apply to this account type.
Generally speaking, most decent Forex and CFDs brokers have a $250 or less minimum deposit requirement. This allows new traders with little experience to test their skill without committing a lumpsum upfront.
Broker is also offering trading signals, live feed and 24/7 live chat and education if traders deposit at least 500 Euros.
This is a way to entice traders to deposit more money upfront, which we are against especially if you are a new in this business.
The annoying business practices
Here’s a quote that I pulled directly from another user who lamented about his experience with this sneaky broker.
Really annoying, since initiating an account from what was described as an online tool for trading i receive constant calls from sales people from who knows where. Never ever start an account is my advice. I can not find any way to cancel. The unsubscribe links does not work and they have shared my contact details with aggressive sales companies.
As you can see, this kind of cold calling can only be initiated by scammers. Illegal brokers like Zank Capital, Solid ECN and Inertia Finance and known to do this kind of thing. They pressurize the victim with the intention of emptying his bank account.
What to do if 1market scams you
The possibility of getting scammed by this broker is very real, seeing that their website is offering conflicting information and some users are also complaining that they lie a lot and that they’re a scam.
If this is the case, then chances are that the broker has refused to process withdrawal of a few people.
The scamming can happen in various forms, ranging from closing down the user’s account with all the money to offering them a bogus managed account service where funds are traded and instead of making a profit, the account is wiped clean.
Either way, you should fill out the form in the beginning of this review or live chat with a professional (if you lost $5000 and above).
This broker did not make it to our recommended list because it has a lot of red flags to consider and fear about.
If you have had a bad experience with this broker in the past, you can drop your comments below and also you have the option of getting your money back if you lost an investment.