MidasFX and N1CM are two popular offshore forex and CFD brokers that offer online trading services to traders and investors worldwide. Both brokers accept U.S. clients and provide trading facilities with no FIFO rule, high leverage, low fees, and tight spreads without restrictions. Although these brokers offer similar services, each has its strengths and weaknesses.
In this article, we will compare and review MidasFX and N1CM by exploring their trading conditions, instruments, minimum deposits, fees, features, and customer support. This comparison and research will help you determine which broker is better suited to your trading style and preferences.
MidasFX vs N1CM: In a Nutshell
MidasFX
Founded in 2020, MidasFX is an online forex and CFD broker. It is an offshore forex broker that offers 100+ trading instruments including forex, metals, energies, stock indices, and cryptocurrencies to traders worldwide. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of MidasFX is as high as 1:1000.Â
MidasFx Overview
- Founded In: 2020
- Headquarters: Saint Vincent and the Grenadines
- Minimum Deposit: $1
- Maximum Leverage: 1:1000
- Regulations: None
- Trading platform:MT4, MT5
- Account Types: Raw spread (ECN) and spread-only (STD) accounts on both MT4 and MT5.
- Payment Options: Steller, Instacoins, Ethereum, Litecoin, Bitcoin
- US Traders: Accepted
N1CM
Founded in 2017, N1CM is an online forex and CFD broker. It is an unregulated forex broker that offers 200+Â instruments including forex, indices, commodities, shares, cryptocurrencies, and precious metals. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of N1CM is as high as 1:1000.
N1CM at a Glance
- Founded Year: 2017
- Headquarters:Kumul Highway, Port Vila, Vanuatu
- Minimum Deposit: $1
- Maximum Leverage: 1:1000
- Regulations: None (Unregulated Offshore Broker)
- Trading platform: MT4, MT5
- Account Types: Cent, Standard, ECN
- Trading Style: Scalping, Hedging, Swing Trading, Day Trading, Automated Trading
- Payment Options: USD, EUR and Crypto currencies
- US Traders: Accepted
MidasFX vs N1CM: Side By Side Comparison
MidasFX vs N1CM: Pros and Cons
MidasFX Pros & Cons
- No Minimum Deposit- You may deposit as low as $1
- Allow Crypto CFD Trading
- Demo Accounts are Available
- Higher Leverage for US, and EU clients. Maximum leverage is as high as 1:1000
- Allow Scalping, EA Trading, and News Trading
- MidasFX Accepts Crypto Deposits
- Unregulated offshore forex broker
- Limited Deposit and Withdrawal Option
- No Managed Account Options
N1CM Pros & Cons
- No Minimum Deposit – Starting from $1
- Allow Crypto CFD Trading
- Offers leverage as high as 1:1000
- The maximum lot size is as high as 1000 lot
- Low Fees trading: Spreads starting from as low as 0.5 pips
- Offers MT4 and MT5 trading platforms (Desktop, Web, mobile version)
- Demo Accounts are Available
- Higher Leverage for US, and EU clients.
- Allow Scalping, EA Trading, and News Trading
- N1CM Accepts Crypto Deposits
Cons:
- Unregulated Offshore Forex Broker
- Limited Number of tradable assets
- No Passive Investment programme like PAMM, MAM
Final Thoughts:
MidasFX and N1CM are unregulated offshore forex and CFD brokers in the industry. They offer similar trading services, including scalping, hedging, EA trading, and Copy trading EA. The minimum order size for both is 0.01 lots, and they both offer leverage as high as 1000:1.
However, there are a few areas where you may find differences. For example, MidasFX offers two account types (ECN and Standard). On the other hand, N1CM offers three account types (Cent, Standard, and ECN). The fees for MidasFX include 0.7 pips spreads for the Standard account and a $5 per lot commission for the ECN account. In contrast, the fees for N1CM are 0.9 pips for the Cent account, 0.8 pips for the Standard account, and $2.50 per lot per side for the ECN account.
Our score for MidasFX is 4.4, and for N1CM, it is 4. If you are looking for an offshore forex broker to start your trading journey, you can consider either of these brokers.
Disclaimer: Trading forex and CFDs comes with the risk of losing your trading capital. Moreover, trading with offshore forex brokers puts your funds at higher risks
