US traders always look to trade with a suitable forex broker. The country has strict regulations in forex trading. As a result, the majority of online forex brokers do not accept US clients because they can not meet the regulatory requirements of the US authorities. High leverage and CFD trading are restricted in the USA. However, many forex traders still opt for trading CFDs with high leverage. That is why many traders settle for offshore forex brokers.
N1CM is an online offshore forex broker that is not authorized or regulated by any authority anywhere; so it is not under any obligation to abide by the rules guiding US-regulated brokers. In this blog post, we will explore whether N1CM accepts US clients, its Pros and cons, and why US traders choose brokers like N1CM and more.
Does N1CM Accept Clients?
Yes, N1CM accepts US Clients. Being an unregulated online forex broker, the broker has the flexibility to onboard clients from various locations worldwide, including the USA. Therefore, US traders are able to register for an account and trade forex and CFD trading with N1CM.
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
Why Do US Citizens Use Offshore Brokers Like N1CM?
Below are some of the reasons why a US trader will choose to trade with N1CM :
CFD trading:
Contracts for differences (CFDs) are financial contracts between a broker and a trader which allows the trader to take positions on the broker’s platform and speculate on the price direction of underlying financial assets without ownership. For example, with CFDs, a trader can make money by predicting the price direction of a company’s stock market shares without owning the company shares.
Unfortunately, the regulators officially prohibited US traders from trading CFDs. However, N1CM gives US traders opportunities to trade CFDs from stocks, indices, and commodities.
High leverage:
Leverage is a tool that multiplies a trader’s market exposure in relation to his deposit. US traders are mandated to restrict forex leverage to 1:50 but N1CM offers up to 1: 1000. This means that with a deposit of $500; you can open positions worth $500000.
With higher leverage, there is a higher chance of making more profits provided that the market moves in favor of your position.
Low trading capital:
With N1CM, US traders can start trading with $1 but US-regulated brokers demand a higher minimum deposit. Also, the trading fees and commissions are much lower with N1CM than with the US-regulated brokers. Perhaps, because obtaining and maintaining a US forex broker license is very expensive.
Tax:
The United States has stringent tax laws which are almost impossible to evade. Forex traders are required to pay taxes on their profits. Trading with unregulated brokers like N1CM makes it easier to pay reduced taxes especially if BTC is used to fund and withdraw from the trading account.
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
Which countries are restricted on N1CM
As N1CM is an unregulated offshore forex broker. It can onboard clients from anywhere in the world. However, due to business decisions or third-party restrictions, the broker does not accept clients from the following countries:
Algeria, the Democratic People’s Republic of Korea (DPRK), Ecuador, Iran, Burma (Myanmar), Uganda, Liberia, Pakistan, Rwanda, Sudan, Syria, Yemen, Zimbabwe, and Afghanistan.
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.
Is N1CM Regulated in the USA?
No. N1CM is not regulated in the USA. It is an unauthorized offshore forex broker.
Does N1CM have any office in the USA?
No, N1CM does not have an office in the USA. As per their website, the broker is located in Vanuatu.
Where is N1CM located?
N1CM is located in Suite T19, First Floor, Tana Russet Plaza, Kumul Highway, Port Vila, Efate, Vanuatu
Can Americans use N1CM?
Yes, American traders can use N1CM. However, traders should take care while trading with unregulated forex broker
Final Thoughts :
N1CM is a forex broker that offers online forex and CFD trading services. The broker gives access to trade with a wide range of trading instruments including forex, indices, metals, and cryptos. The broker allows almost all trading styles including scalping, hedging, copy trading, and news trading.
N1CM allows US clients to enjoy forex trading services on their own terms. If you like high leverage, N1CM offers leverage up to 1:1000. Traders are allowed to use any strategies including scalping, hedging, news trading, and so on. Unlike US-regulated brokers, N1CM offers CFD trading. N1CM offers MT4 and MT5 as its trading platforms.
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
