N1CM Spreads, leverage, minimum deposit Revealed

N1CM Information

　　N1CM is a broker that provides online trading services that allow clients to trade in multiple financial markets, including forex, metals, commodities, indices, stocks, and cryptocurrencies. N1CM offers a wide range of trading products and flexible account options, making it suitable for traders of all levels, especially newbies and users who want to try their hand at trading with high leverage. However, due to its unregulated status and the potential risks associated with high leverage, traders should fully assess their risk tolerance and conduct in-depth research before trading.

Pros & Cons

Is N1CM Legit?

　　Although N1CM claims to be regulated, the regulation of retail forex issued by Vanuatu Financial Services Commission (VFSC) with license number 15035 has since been revoked. Traders should be careful when trading.

What Can I Trade on N1CM?

　　N1CM offers 50 Forex, Metals, Commodities, 10 Indices, Shares, and Cryptocurrencies.

Account Types

　　N1CM provides a Demo Account for traders to engage in trading using a simulated account with virtual funds.

　　N1CM offers three types of live accounts: Cent Account, Standard Account, and ECN Account. The following is information on the three types of accounts. Among them, Cent Account only supports MT4, and other types of accounts support both MT4 and MT5.

Leverage

　　Leverage in Forex and CFD trading is being able to trade a larger amount of volume with less investment.

　　N1CM offers flexible leverage options up to 1000:1, but the maximum leverage gradually decreases as the account equity increases. The choice of leverage is directly related to the equity of the account; the higher the equity, the lower the leverage multiplier and the higher the margin requirement.

　　Although high leverage can magnify returns, it also increases risks, and traders need to choose a reasonable leverage ratio according to their own capital situation and risk tolerance.

Fees

　　Spreads start from 0.9 pips for the Cent Account, 0.8 pips for the Standard Account, and 0.5 pips for the ECN Account. Spreads vary for different assets, such as EUR/USD (1.1 pips) for Cent Account, EUR/USD (0.9 pips) for Standard Account, and EUR/USD (0.5 pips) for ECN Account.

　　This commission structure is designed to meet the needs of different traders, for example, a newbie may be more inclined to choose a Cent Account or a Standard Account, while an experienced trader may be more inclined to choose an ECN Account for lower spreads and better liquidity.

Trading Platform

　　N1CM supports the use of MT4 and MT5 platforms.

　　MetaTrader 4 (MT4) is a trading platform released by the Russian company MetaQuotes specifically for forex trading.

　　MetaTrader 5 (MT5) is a multi-asset trading platform launched by MetaQuotes that allows trading Forex, Stocks, and Futures.

Deposit and Withdrawal

　　N1CM offers a variety of payment methods: Perfect Money, PaymentAsia, STICPAY, Coinbase, Tasapay, and B2BinPay. The minimum deposit is $5.