1Market Forex Broker Review – Is it legitimate?

1Market is a Forex broker that offers innovative and efficient services for its consumers. The 1Market site is owned and operated by Pandora LTD, a private financial company with years of experience. The site has a clear design and the interface is very user-friendly. The company is using SSL software for protection and has a two-factor authentication process in place for all of its user’s accounts.

There are many asset types one can trade with on the 1mqrket site. This includes currency pairs, stocks, CFDs, Indices commodities,  and even ETFs.

The website is available in 12 different languages. The primary language on the site is English.

License and Regulations  – Is 1Market Legit?

Pandora LTD, the owner of the platform is based in the Marshall Islands. They adhere to the strict laws of the base country’s regulations. Additionally, 1markets follows and meets all the Markets in Financial Instruments Directive standards.  Which if you don’t know is a European Union law that safeguards financial institutions and companies.

1Market Review – Trading features

A brokerage firm is only as good as its defying features. This includes a variety of trading tools like leverage ratio and the spread amount.

Leverage

The leverage ratio is an important trading tool that every Forex brokerage firm uses. It’s a great way to make investments. The margin requirement is 0.5% therefore we can surely say that the 1Market broker offers a 1:200 leverage ratio.

Spread

At this Forex brokerage firm, all spreads are fixed. One needs to get in contact with the management to make a customized spread.

Account Types

There are six different account types available on the platform, each has distinctive features. They have many similarities and quite a few distinctions. In this section of the review, we will go through all of the types and give you general information about each. For example, the minimum deposit requirement is vastly different for each account type.

Mini

The minimum deposit for the mini account is $500. With this account, you have access to trading signals, customer service team, and live feed.

Standard

The minimum deposit for this account is $1,000. With the standard account, you have access to trading signals, customer service team, MetaTrader5, and live feed.

Gold

The minimum deposit for this account is $5,000. With the Gold account, you have access to trading signals, customer service team, MetaTrader5, Push and SMS  notifications, live feed, and exclusive market updates.

Platinum

The minimum deposit for this account is $10,000. With the Platinum account, you have access to trading signals, customer service team, MetaTrader5, Push and SMS  notifications, live feed, and exclusive market updates.

Diamond

The minimum deposit for this account is $50,000. With the Diamond account, you have access to trading signals, customer service team, MetaTrader5, Push and SMS  notifications, live feed, and exclusive market updates.

VIP

The minimum deposit for this account is $100,000. With the VIP account, you have access to trading signals, customer service team, MetaTrader5, Push and SMS  notifications, live feed, and exclusive market updates.

Minimum Deposit

The minimum deposit on the suite varies depending on which account type one uses. The lowest minimum deposit on the site is $500, which is for the Mini account type.

Bonuses

1Market currently doesn’t have any type of bonus scheme for its consumers. However, there is an affiliate program that gives the promoters of the site a 10% cut from their revenue. From the looks of it, 1Market is more interested in self-promotion than actual rewards for its loyal traders or newcomers. There isn’t even a one-time welcome promotion of some sort, which is such a shame as the platform seems relatively nice and trustworthy.

1Market fraud – Our Final Verdict

All in all, the platform is relatively nice. On paper, it has qualifications, multiple asset types, six account types. One would think it’s the very face of diversity in the field of Forex trading. But this can’t be further from the truth.