Home Broker Reviews Number One Capital Markets (N1CM) Review

Number One Capital Markets (N1CM) Review


Number One Capital Markets is a licensed and regulated Forex and CFD broker located in Vanuatu. With three different account types being offered, along with a personal account manager for each client and low deposit minimums, we found this broker to be worth taking a closer look at. We invite you to read this in-depth N1CM review to find out if this broker is really as good as they claim to be.

Account Types

Traders will be able to choose from the Cent, Standard, or ECN Pro accounts. Regardless of which account type you choose, you’ll have access to extremely low deposit requirements and the same leverage options. There are also similarities with the Margin Call/Stop Out rules. Differences come in the form of spreads, commissions, allowed trade sizes, and more. You’ll certainly need to read on to find out more specific information, but you can view a brief summary for each account type and compare them below.

Cent Account:

  • Deposit Minimum & Maximum: $5, $1,000 deposit limit
  • Spread: Variable
  • Commission: None
  • Trading Instruments: Forex (Majors, Minors)

Standard Account:

  • Deposit Minimum & Maximum: $10, No Limit
  • Spread: Variable/Fix
  • Commission: None
  • Trading Instruments: Forex – Metal – Indices – Energies – CFD

ECN Pro Account:

  • Deposit Minimum & Maximum: $10, No Limit
  • Spread: Variable
  • Commission: $5 per lot
  • Trading Instruments: Forex – Metal – Indices – Energies – CFD

Here’s a quick summary of the account types. With a Cent account, you’ll be able to deposit only $5, won’t have to worry about commissions, and you’ll have access to the same leverages and margin call/stop out levels. The drawbacks to the Cent account come in the form of a 50 maximum position limit, a smaller maximum volume of 5 lots, and less trading instruments to choose from. Next, let’s mention the Standard account. You’ll also have a small deposit minimum of only $10, won’t have to deal with commission fees, and you’ll have access to the same margin call/stop out levels, unlimited positions, and the same trading instruments offered for the Pro accounts.

Unfortunately, the highest leverage offered for the Standard account is less than those available for the other accounts. Finally, choosing the Pro account means that one will have access to the best leverages, spreads, asset offerings, and more. The only drawback to this account type is that commission fees will be charged, but this will offset the better spread offerings. One of the things we loved was the fact that traders will actually have the choice between all accounts, unlike with other brokers, where traders must deposit a large amount of funds to be able to choose certain accounts. With this broker, the most one needs to deposit is only $10, which means everyone will have the opportunity to choose the account they like best.


Traders will be able to download the highly successful MetaTrader4 platform directly from the website. This platform is ideal, since it offers so many helpful tools and customization options. Some of the benefits to trading on MT4 can be found below.

  • Use of EAs (Expert Advisors)
  • 9 Timeframes
  • More than 50 built in technical indicators and tools
  • Integrated News Feeds
  • Trailing Stops

The above are just a few of the advantages to trading on the MT4 platform. Even though a newer version has been released, many successful traders still swear by the classic platform. Another great thing about MT4 is that it is widely accessible. Those trading from a computer will be able to download the program via PC and Mac. If you want to trade on your phone, the platform is available for Iphone/Ipad devices, as well as Android. Those trading from their phones will also have access to push notifications. We highly recommend downloading the program on your phone as well as your computer, since you’ll be able to access your trading account from anywhere.  We felt that nothing was lacking from the trading platform offered for this broker, and since the platform is so widely accessible, N1CM got a perfect score in this category.


From a bird’s eye view, the options are extremely flexible, with the lowest leverage option being 1:25 and the highest offer listed at up to 1:1000. The highest leverage offered is great and it’s not common to find such a high offering. However, the highest leverage for a Standard account is 1:500, and there are some minimum margin requirements that affect which leverage options are accessible in general. For example, if you’d like to trade with a leverage of 1:100, you’ll need equity of 50,000 or more and a minimum required margin of 1%. To trade with the highest leverage offered, you’ll need equity of 0-999 and a minimum required margin of 0.1%.

The specifications for each leverage option, starting from 1:100, can be found on the ‘Account Types’ page. If you have a preferred leverage that you often choose when trading, make sure you check out that page to see the requirements for your chosen leverage. If you’re not very experienced, we don’t suggest going for the highest leverage option. We did mention that this was an excellent offering, but choosing a higher leverage is better for those that are more experienced and that have more funds to gamble with, since it can be much riskier. If you’re a beginner, we suggest a leverage of around 1:100, which means you’ll be trading with 100 times the funds that you have available in your account.

Trade Sizes

The minimum volume for trade sizes is the same for all accounts, which is 0.01 lots. The maximum trade size allowed differs based on the account you’ve chosen. For the Cent account, the maximum volume is listed at just 5 lots. While this is small, it is understandable considering that we’re talking about a Cent account here. For both the Standard and ECN Pro accounts, the maximum volume is listed at 50 standard lots, which is much better than the offering for the Cent account. If the smaller trade volumes don’t bother you, you’ll have no reason to cross the Cent account off your list. On the other hand, if this is a no go for you, you’ll want to choose one of the other accounts. The margin call/stop out levels are as follows:

Margin Call: 100%

Stop Out: 40%

Note that all brokers put margin call/stop out rules into place to stop clients from having their account balances go negative. This is simply a measure of protection for your account. If you reach the margin call level, the best thing to do is to consider closing some of your least profitable trades or depositing more funds into your account. These levels are the same for each account type.

Trading Costs

Details on commission fees, swap fees, and spreads are a need to know for any trader looking into a particular broker. For this broker, we will start with the commission fees. Fortunately, those trading on Cent or Standard accounts are exempt from paying commissions, so if you’ve chosen those accounts, you’ll come out on top here. Operators of the ECN Pro accounts will be the only ones paying commissions, which are listed at $5 per lot. This may make the commission free accounts seem like better options, but keep in mind that the commission fees you’re paying for a Pro account will result in much better spreads. Traders will also need to take spreads into consideration. Spreads are the difference in the bid and ask price, and they are constantly changing and will vary. Since they are really deserving of a category of their own, we will offer more information on the spreads later.


Just to recap, those with Cent accounts will only be able to trade Forex majors and minors. Those with Standard and ECN Pro accounts will have access to a wider variety of instruments, including 52 currency pairs, commodities: gold, silver, and more, stocks: 12 currency pairs, and 120 global indices. All accounts allow hedging and scalping. While we’d like to see more assets offered for the Cent account, we were satisfied with the offers for other accounts. Fortunately, traders can simply open one of the accounts with the better asset options if the Cent account doesn’t offer enough, since the requirements for those accounts are extremely easy to meet.


On the Cent and ECN pro accounts, the spread is listed as variable. For the standard account, the spread is listed as variable/fix. Spreads go as low as 0.6 pips, but we did have some trouble finding much information listed on the website. After doing a bit more research, we found that spreads commonly started around 1.2 pips. At first, we were alarmed that the website didn’t offer much of an explanation for this category, but we found the spreads to be very competitive after looking into them further. It certainly would be seen as an advantage for this to be explained more clearly on the website, so this broker scored highly in this category.

Minimum Deposit

The deposit minimum is just $5 for a Cent account. This account is also the only one that comes with a deposit limit, which is listed at $1,000. Both the Standard and Pro accounts offer a deposit minimum of $10. We really feel the need to mention how low these offers are and how beneficial the minimums are for newer traders. Do keep in mind that you may want to consider depositing more so that you’ll have more to work with, but those that don’t have many funds or who may feel overwhelmed by the risks won’t have to worry here. Even if you do find some brokers offering $10 minimums, this is usually only available for one type of account, which often comes with several drawbacks and restrictions.

Deposit Methods & Costs

N1CM offers several different deposit methods, including: Visa/MasterCard, Fasapay, Skrill, Neteller, UnionPay, China UnionPay, Perfect Money, Bitcoin, Litecoin, Ethereum, Bitcoin Cash, Dogecoin, WebMoney, Epayments, QIWI, N1CM Prepaid Card, wire transfer, and OkPay. China, Indonesia, Malaysia, Thailand, and Vietnam bank wire are also funding options. Since there are so many options, we grouped the options into categories to make comparing them easier.


Fee Free Options:

Visa/MasterCard, Fasapay, Skrill, Neteller, UnionPay, China UnionPay, Perfect Money, Bitcoin, Litecoin, Ethereum, Bitcoin Cash, Dogecoin, WebMoney, Epayments, QIWI, and N1CM Prepaid Card. This also includes the Bank Wire options.

  • Wire Transfer: Check with your bank to find out about any fees.
  • OkPay: 1% (Min 5 USD)

Processing Times:

Automatic, Instantly:

Visa/MasterCard, Fasapay, Skrill, Neteller, UnionPay, China UnionPay, Perfect Money, Bitcoin, Litecoin, Ethereum, Bitcoin Cash, Dogecoin, Epayments, QIWI, N1CM Prepaid Card, and OkPay. This also includes the Bank Wire options.

  • WebMoney: 1-2 hours
  • Wire Transfer: 3-5 business days

Deposit Minimums:

$5 or less:

Fasapay, Skrill, Neteller, WebMoney, Perfect Money, Bitcoin, Litecoin, Ethereum, Bitcoin Cash, Dogecoin, Epayments, QIWI, N1CM Prepaid Card, and OkPay. This also includes the Bank Wire options.

$10 USD:

Visa/MasterCard, UnionPay & China UnionPay, and OkPay.

Wire Transfer: 100 EUR

The bank transfer option is separate from wire transfer, so make sure that you don’t confuse the two. With that in mind, let’s recap. Most of the methods are fee free, with the exception of wire transfer and OkPay. When it comes to wire transfers, most banks do charge deposit fees, so this is unavoidable. Next, the processing times were instant for the majority of the methods. The only options that could take longer are WebMoney and wire transfer. The processing time for WebMoney is still extremely quick, so that method is still considerable. Finally, a lot of the methods offered $5 deposit minimums and a few had a $10 deposit minimum. Wire transfer requires a 100 EUR deposit, which is much higher than the deposit minimums required by this broker. If you were planning to deposit that much regardless, then wire transfer would be an acceptable option.

Withdrawal Methods & Costs

All of the deposit methods are available for withdrawal, but traders will want to take fees, processing times, and maximum withdrawal fees into account when choosing a method. Below, you’ll find the fees listed for each method.

Fee Free: Neteller, Bitcoin, Litecoin, Ethereum, Bitcoin Cash, Dogecoin, Epayments, all bank wire options, N1CM prepaid card,

  • Visa/MasterCard: 2.5%+7.5 USD or 2.5%+6 EUR

Fasapay: 0.5%

Skrill: 1%

UnionPay & China UnionPay: 1% (Min 6 CNY)

PerfectMoney: 0.5%

WebMoney: 0.8%

QIWI: 0.5%

Wire Transfer: 50 EUR

OkPay: 2%

If you want to avoid fees completely, you’ll have several great options to choose from. If your preferred method does come with fees, you’ll find that most of them are low and reasonable. Something that is common but disappointing are the fees associated with Visa/MasterCard and wire transfers. We’re used to seeing higher fees for these methods, so we weren’t surprised, but it would be nice to see lower options since these methods are so popular. Finally, we should mention that there are maximum withdrawal limits on Visa/MasterCard, UnionPay & China UnionPay, all of the bank wire options, and OkPay. If you often withdraw a large amount of funds, check the funding page for specifics.

Withdrawal Processing & Wait Time

Processing times are listed at 1-2 hours for all methods except OkPay, which will be processed in up to one hour. However, the 1-2 hour wait time is for hours in which the Finance Department is working. The maximum amount of time you may wait for these payments to be processed is actually up to one bank day. In the case of wire transfers, it could take up to 7 business days to receive your funds. So, if you’re in a hurry, OkPay is going to be the best choice. With the exception of bank wire, all of the other methods are also available quickly. The best thing to do is to make your request during business hours, which will help to ensure you receive your funds as quickly as possible.

Bonuses & Promotions

N1CM offers two deposit bonuses at this time. First, there is a unique $30 no-deposit bonus. This means that traders will be given $30 worth of credit for opening a live account. Of course, there are a few conditions. For one, the funds will not be withdrawable, which is understandable being that they are meant for trading. Also, the highest leverage you can use will be 1:500, which is lower than the highest offer, but still high. This bonus may not be available forever, so it’s worth considering opening an account in the near future before the opportunity is gone. At this time, N1CM is also offering a limited-time Protection Bonus.  This is a 55% deposit bonus on any deposit. The larger your deposit, the larger your bonus will be, and any profits are fully withdrawable. Note that the Cent account account is excluded from participating in this bonus and that your maximum deposit cannot exceed $5,000 USD.

If you meet conditions, you need to email support to make sure you receive your bonus. You’d think that two bonuses would be enough, but N1CM is also offering Iphones to some lucky users. While it would be nice if we could all receive free Iphones, traders will of course have to meet requirements. You’ll have to open and fund a trading account for starters, which is easy. From there, you’ll have to make the minimum deposit and meet the minimum trade volume to qualify. If you want the Iphone 8, you’ll need to make a deposit of $5,000 and have a minimum trade volume of 200 lots. For an Iphone 8 plus, there’s also a deposit requirement of $5,000, along with a minimum trade volume of 250 lots. Finally, if you have your eyes on the Iphone X, you’ll need to make a $10,000 deposit and trade 300 lots.

iPhone promotion requirements.

Educational & Trading Tools

We were excited to find out that all account holders will be provided with an account manager, whom can answer important questions and offer assistance when necessary. We’ve rarely seen this before, and when we have, the option to have a personal advisor was limited to those holding the most exclusive accounts, all of which required large deposits. Asking a professional your exact questions will be much more rewarding than searching the web for articles that may answer your question vaguely. Traders will also have access to a variety of trading tools through the MT4 platform. These include charts, an Economic Calendar, and more than 50 technical indicators and tools. Overall, we felt that this was another section where this broker scored highly.

Customer Service

Customer support is available 5 days a week and can be reached via phone, email, or LiveChat. Support hours are listed as 9am to 6pm. You will also be able to follow N1CM on Twitter, Facebook, and LinkedIn. To email support, you can click ‘Email Us’ directly from the website and fill in the form, or use the email address provided below. We weren’t satisfied by the company’s LiveChat, since an agent never connected with us, but support can still be reached quickly by phone. Also, it would have been nice to see support available 24 hours a day. Find contact details for this broker below:

Phone: (+44)-203-150-1310

Email: info@n1cm.com

N1CM contact form example and contact details.

Demo Account

We consider demo accounts to be one of the best learning tools available. Opening a demo account gives traders access to all of the same offers available for Standard accounts, with the difference being that you’ll be given a mock account balance of $10,000. Traders can then test the market in many different ways, without worrying about losing any funds. Doing so can give you an idea of your skill level and may help you decide whether it’s time to open a real account or not. Even those that consider themselves to be more experienced can benefit from being able to test strategies in ways they may be afraid to consider for their real accounts. We do wish that traders could choose a specific amount of mock funds for their demo, since it would allow more creativity when testing the market.  Accounts will expire if they have not been used for 3 months. If your demo account runs out of funds or expires, you can simply open another restriction-free demo account, so this option is frustration free.

Example of the demo account registration form.

Countries Accepted

We had trouble finding a list of accepted countries on the website, but we had no issues opening an account from the US. The fact that this broker is still allowing US citizens to open accounts in great, since many other brokers have chosen to take this option away because of regulation issues. The fact that this broker is properly regulated, even if the regulation comes from an entity that is less strict than others, should instill at least some level of confidence in those who are considering using N1CM as their Forex broker.


What stood out most to us about this broker were the super low deposit minimums for all accounts, the fact that each account holder will be provided with an account manager, competitive spreads, flexible leverages, and the amazing bonus opportunities. One negative, in our opinion, was the limited customer support hours. With other brokers, it’s also hard to find support hours on the weekend, but you can often get in touch with an agent at nighttime, which is what we’re missing here. When it comes to funding, this broker offers several popular options, many of which are fee free and processed very quickly. What we disliked was the higher withdrawal fees for Visa/MasterCard, and the longer withdrawal times for bank transfer.

As far as platforms, education, and trading tools go, we felt that this broker offered many excellent options and we were happy to see that they support the highly impressive and widely accessible MetaTrader 4 platform. Since this broker offers three different types of accounts, one would want to take the advantages and disadvantages of each account into consideration. The great thing is that traders will be able to choose whichever account they personally like best, since the only requirement are the low deposit minimums. To conclude, this is a trustworthy broker that has definitely made a place on our list of considerable brokers. Most of the drawbacks had to do with funding and the other offers were competitive, so this may just be the broker we’ve been looking for.




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