1st Contact-Overview of Minimum Deposit, Spreads & Leverage

Overview of 1st Contact

1st Contact, established in 1995 and based in the United Kingdom, offers a range of services encompassing Citizenship & Immigration, Financial Services, Corporate Services, Education, and Offshore Property. While providing access to Forex trading, it operates without explicit regulation. The platform facilitates transactions through UK debit cards and maintains a robust customer support system via email, phone, and online chat. Additionally, users benefit from a wide blog covering a spectrum of topics including accounting, citizenship, forex, immigration, investment, study abroad, and wealth, enhancing their knowledge across various domains.

However, the lack of regulatory oversight wil be a point of consideration for users seeking a more regulated trading environment. Nevertheless, the platform's extensive service offerings and educational resources contribute to its appeal for individuals navigating financial and lifestyle aspects.

Is 1st Contact legit or a scam？

1st Contact operates under the regulation of three key authorities, each granting specific licenses to ensure compliance. In South Africa, the Financial Sector Conduct Authority oversees the platform with a Financial Service Corporate license (License No. 41900), a status indicating that the platform has exceeded regulatory requirements since its effective date on April 12, 2011.

Meanwhile, the Australia Securities & Investment Commission regulates 1st Contact under a Market Making (MM) license (License No. 335126). However, the platform is currently labeled as a “Suspicious Clone” in Australia, a status that is warrant further scrutiny.

In the United Kingdom, the Financial Conduct Authority grants a Payment License (License No. 517570) to Sable International FX Limited, with the platform's regulatory status currently categorized as a “Suspicious Clone” since February 2, 2018.

Pros and Cons

Pros:

1. Diverse Educational Blog:

1. The platform offers a comprehensive and educational blog covering topics such as accounting, citizenship, forex, immigration, investment, study abroad, and wealth. Users can access valuable insights and information across various domains.

2. UK Debit Card Acceptance:

1. 1st Contact accepts UK debit cards for transactions, providing users with a convenient and widely used payment method. This enhances accessibility for users in the United Kingdom.

3. Wide Range of Services:

1. The platform offers a wide array of services for various needs such as financial management, immigration assistance, study abroad opportunities, and wealth management. This comprehensive approach allows users to explore different services within a single platform.

4. Multi-Channel Customer Support:

1. Users benefit from multi-channel customer support, including email, phone, and online chat. This approach ensures accessibility and allows users to choose the most convenient method for seeking assistance.

Cons:

1. Not Regulated:

1. The platform exceeds in lacking explicit information about its regulatory status, raising suspicions of being a potential clone. Regulatory oversight is essential for ensuring transparency, security, and adherence to financial regulations, which will be an issue for some users.

2. Limited Transparency on Methods:

1. The platform provides limited transparency regarding specific deposit and withdrawal methods. Users will find it challenging to obtain detailed information on these processes, potentially impacting their decision-making.

3. Not Available in Some Countries or Regions:

1. While offering a variety of services, 1st Contact is not available in certain countries or regions. This limitation restricts access for potential users outside the supported areas.

Services

1st Contact offers a wide array of trading assets, spanning various sectors for the multifaceted needs of its users. In the realm of Citizenship & Immigration, the platform provides services to facilitate individuals in navigating the intricacies of immigration processes and citizenship acquisition. This includes support and guidance for those seeking to relocate or explore citizenship options.

Within the ambit of Financial Services, 1st Contact extends its offerings to address the financial needs of users comprehensively. Whether it's managing personal finances, investments, or tax-related matters, the platform provides a suite of services to assist users in navigating the financial landscape effectively.

In the domain of Corporate Services, 1st Contact facilitates solutions for businesses, offering support in areas such as company formation, compliance, and other corporate requirements. This encompasses a range of services to streamline corporate operations and ensure adherence to regulatory standards.

Acknowledging the importance of education, 1st Contact provides services in the Education sector, aiding individuals in pursuing educational opportunities abroad. This includes guidance on educational institutions, visa processes, and related support services.

Furthermore, 1st Contact recognizes the significance of investments in Offshore Property, providing users with resources and assistance in navigating the complexities of offshore property transactions. These trading assets collectively reflect 1st Contact's broad approach to meeting the various needs of its users across different sectors.

Financial Services

1st Contact facilitates currency services for clients in various jurisdictions, tailoring its offerings to the specific regulatory landscape of each region:

1. United Kingdom:

1. Currency services in the United Kingdom are provided by Sable International FX Limited, ensuring compliance with the regulatory framework governing financial services in this jurisdiction.

2. South Africa:

1. For clients in South Africa, 1st Contact offers currency services through two entities: Sable International FX Limited and Sable International FX [PTY] Limited. This dual provision aligns with regulatory requirements and allows clients flexibility in choosing services.

3. United States, Europe, and Canada:

1. In the United States, Europe, and Canada, 1st Contact collaborates with Currency Cloud to provide currency services. This partnership structure enables adherence to regional regulations and offers clients in these jurisdictions access to a range of currency-related solutions.

How to Open an Account？

1. Visit the Website:

1. Begin by visiting the official website of 1st Contact. Navigate to the account opening section, usually found in the top menu or designated landing pages.

2. Provide Personal Information:

1. Complete the online application form by providing accurate personal information. This typically includes details such as your full name, contact information, date of birth, and other relevant identification details.

3. Submit Supporting Documents:

1. Upload the required supporting documents as specified by 1st Contact. This involves providing identification documents, proof of address, and any other documentation necessary for the selected account type.

4. Verification Process:

1. Undergo the verification process conducted by 1st Contact. This involves confirming your identity, reviewing the submitted documents, and ensuring compliance with any regulatory requirements.

5. Account Approval and Activation:

1. Once the verification process is successfully completed, await the approval of your account by 1st Contact. Upon approval, you will receive instructions on how to activate and access your newly opened account, allowing you to benefit from the selected services.

Customer Support

1st Contact provides accessible customer support through various channels. Clients can reach out via email using money@1stcontact.com and info@1stcontact.com. For direct assistance, the company's phone number is +44 (0) 20 7759 7514. Additionally, an online chat feature is available, offering real-time support for inquiries and assistance. This multi-channel approach ensures that clients can choose the mode of communication that best suits their preferences, enhancing the overall customer service experience.

Educational Resources

1st Contact offers a wide range of educational resources through its blog, covering a variety of pertinent topics. The blog serves as a valuable source of information, featuring updates on Accounting, Citizenship, Forex, General insights, Immigration processes, Investment strategies, Study Abroad opportunities, and Wealth management.

Users can explore in-depth articles and updates on these subjects, empowering them with knowledge across various domains. This comprehensive approach to educational content serve individuals interested in financial matters, global mobility, and investment, providing valuable insights and keeping them informed on the latest developments in these key areas.

Conclusion

In conclusion, 1st Contact presents a multifaceted platform with notable advantages. Its educational blog provides users with a wealth of information on various topics. The acceptance of UK debit cards and the offer of every fifth transfer being free make transactions convenient and cost-effective.

However, the platform lacks explicit regulatory information, raising issues about transparency and oversight. Limited transparency on deposit and withdrawal methods further impacts user decision-making. Despite these drawbacks, the platform's wide range of services and multi-channel customer support contribute positively to its overall appeal, offering users accessibility to a comprehensive suite of financial and assistance services.

FAQs

Q: How can I contact 1st Contact's customer support？

A: You can reach customer support via email at info@1stcontact.com, or call +44 (0) 20 7759 7514. Online chat support is also available.

Q: What payment methods does 1st Contact accept？

A: 1st Contact accepts UK debit cards for transactions.

Q: Is 1st Contact regulated？

A: 1st Contact is not regulated currently.

Q: What services does the educational blog cover？

A: The blog covers various topics including accounting, citizenship, forex, immigration, investment, study abroad, and wealth.

Q: Is 1st Contact available globally？

A: While providing a range of services, 1st Contact's availability varies by country or region.