Forex Traders always look for trading with reliable, user-friendly, and regulated forex brokers that suit their trading preferences and strategies. Forex brokers’ regulations ensure fund safety and security. Without proper regulation, you could be putting your investments at risk. If you’re considering using N1CM as your forex broker, you may be wondering if they are regulated.
N1CM is an offshore forex broker. It is not regulated by any regulatory authority. In this blog post, we will explore the regulatory status of N1CM, its strengths and weaknesses, and alternatives to N1CM.
Is N1CM Regulated?
No, N1CM is not a regulated forex broker. It is an unregulated offshore forex broker. Many traders settle for unregulated offshore forex brokers to enjoy restriction-free trading (Forex, CFD, Indices) with high leverage and low spread.
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
Pros and Cons of N1CM
N1CM is an unauthorized forex broker. Still, many traders settle for N1CM for high leverage and restriction-free trading options. Here are the pros and cons of N1CM
Pros and Cons of N1CM for US Traders
Pros :
- 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
- No other trading platforms other than MT4 and MT5
Alternatives of N1CM
N1CM is a popular offshore offshore forex broker. However, other brokers can serve as alternatives to N1CM. These alternative brokers include
Frequently Asked Questions ( FAQs)
What is N1CM?
Founded in 2017, N1CM is an online forex and CFD broker. It is an unregulated forex broker that offers 200+ 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. To know more about N1CM broker, you may read our review about NICM.
What is Forex Broker Regulation?
Forex broker regulation refers to the oversight and compliance with rules and standards set by financial regulatory authorities. These regulations aim to protect traders, ensure market integrity, and maintain a fair trading environment.
Is N1CM an ECN Forex Broker?
Yes, N1CM operates as an Electronic Communication Network (ECN) forex broker, providing direct access to liquidity providers and offering competitive pricing and execution.
Is N1CM a Safe Broker?
N1CM has been providing services for a long period. However, the broker is not regulated by any regulatory authority. As a result, trading with N1CM involves inherent risks due to the lack of regulatory oversight. Traders should carefully consider these risks before engaging with the platform.
Is N1CM Regulated in the USA?
No, N1CM is not regulated in the USA. In fact, it is not regulated by any regulatory authorities.
Is N1CM Regulated in the UK?
No, N1CM is not regulated in the UK. The brokers of the UK are usually regulated by FCA, and N1CM is not regulated by this regulatory authority.
Is N1CM Regulated in Canada?
No, N1CM is not regulated in Canada.
Final Thoughts :
N1CM is an unregulated forex broker that offers forex, CFDs, and Crypto Trading via the MT4, and MT5 trading platforms. Since it is an offshore forex broker, it can onboard clients from anywhere in the world. The broker allows traders to trade with any style including scalping, hedging, EA Trading, news trading, and so on.
Disclaimer: Trading forex and CFDs comes with the risk of losing your trading capital. Moreover, trading with unregulated brokers puts your funds at higher risks
