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1Market.eu is a seemingly new arrival in the FX market industry, and it definitely shows. However, that does not mean that it does not offer fair and safe trading groaunds. Read the review to find out all we discovered of this broker.
1Market.eu is a trading name of Exelcius Prime Ltd, in fact, regulated by none other than CySEC, the Cypriot FX regulator, one of the world’s top license issuers, as far as FX brokers go. All Cypriot Investment Firms have to meet certain requirements and to abide by a set of rules: all brokers must hold at least €730 000 that verifies their financial stability; client money must be kept in segregated bank accounts; CySEC companies abide also by the Markets in Financial Instruments Directive or MiFID; and many more requirements that we won’t get into. Last, but certainly not least, all brokers regulated by the overseer offer to their users the so-called Investor Compensation Fund, which covers users’ losses of up to €20,000 per client, in the event the broker becomes insolvent.
Registering an account for some reason was not possible during our time with the website, for no matter how many times we tried to create an account, we were led to an error page. Since the broker is regulated, we have no doubt that is offers a great account area and a superb trading software. What we presume is happening is that there is a certain server issue, or that the website is simply is under maintenance.
However, as always, if we cannot register on a broker’s site, it means that we have to rely on the website for all the trading and payment information. This should not present us with an issue, because, as we mentioned, 1Market is regulated, thus all the info on the website should be accurate.
The broker offers the following tradeable assets: ETFs, indices, stocks, and forex currency pairs. The obvious missing one is crypto derivatives, which in today’s FX industry is a must! As an European broker, CySEC offers leverage no higher than 1:30 for retail traders. Of course, professional traders can apply for a higher leverage, but the requirements are pretty stiff.
One thing that we have to point out is that the website kept giving us continuous error pages, at the time of writing this review. We already mentioned this at the beginning of the review, but the issue persisted, and it greatly impaired our ability to review the broker. However, we might have an explanation for this. And it is that the website is still very new, and thus its services are not fully prepared. Although, that begs the question of why the people behind the company have released the broker without fully integrating its services?
Because the broker’s website, aside from the Home page, was out of our reach, a lot of the information we will not be able to get. One of the crucial ones is the spread value. Keep in mind, that the average spread for the EUR/USD spread is 1.5 pips, and there is almost always some sort of commissions attached!
The website of the company is available in English, Vietnamese, Spanish, German, French, Arabic, Magyar, Czech, Indonesian, Italian, Dutch, Polish, Turkish, and Malaysian.
1MARKET. EU LOGIN
We interpret that the broker gives away two trading softwares: an MT5 and a separate web trader.
Now, we cannot be sure that the web-based platform is proprietary or not, but by the looks of it, it seems decent enough. However, nothing can replace the MT5, for this is by far the best software to trade on!
1MARKET. EU MINIMUM DEPOSIT
Being regulated by CySEC is a guarantee that payment will be as safe as possible.
The broker reveals that deposits are made through a range of credit and debit card options, wire transfer, and a bunch of alternative methods. The minimum deposit with regulated brokers is usually around $250.
There is no mention of processing times and fees. Usually, deposits are not commissioned, and processing times should be as fast as possible, except for bank trasnfers. These can take up to 5 days at times.
1MARKET. EU WITHDRAWAL METHODS AND FEES
Because of the CySEC license, all withdrawals are safe, secure, and sure to be processed.
We assume that the same methods used for depositing are available for withdrawing.
There are also no fees and no withdrawal processing time reveals. Processing times vary from 3 to 5 days depending on the method used, while fees depend mostly on the broker.
BOTTOM LINE
1Market.eu shows a lot of promise, and we do not doubt that it will deliver a solid FX experience. We are not worried about it due to its CySEC validity, which is a serious commitment on both sides. Once the broker is widely available, we think that it will be worth it! Users only have to wait until it properly launches.
