Overall Rating: ★★☆☆☆ (2.6/5.0)

N1CM (Number One Capital Markets) is an offshore forex and CFD broker operating under N1CM Ltd, registered in Vanuatu. It offers trading via MetaTrader 4 (MT4) and MetaTrader 5 (MT5) with leverage up to 1:1000, competitive spreads, and support for crypto deposits. While it promotes ECN-style trading conditions and low minimum deposits, N1CM lacks regulation from any top-tier financial authority, raising red flags regarding fund security, transparency, and client protection.

This N1CM review evaluates its trading conditions, regulatory standing, pricing, and whether it’s a suitable broker in 2025.

Key Features

N1CM caters to global retail traders seeking high leverage, tight spreads, and multi-platform access with crypto funding options.

• Trading Platforms:
  • MetaTrader 4 (MT4)
  • MetaTrader 5 (MT5)
• Markets Offered:
  • Forex, indices, commodities, stocks, and cryptocurrencies
• Account Types:
  • Standard, ECN, and Crypto Accounts
• Leverage:
  • Up to 1:1000 (varies by instrument and account type)
• Minimum Deposit:
  • $50
• Funding Methods:
  • Bank wire, credit cards, Skrill, Neteller, Bitcoin

Regulation and Security

N1CM operates under a low-tier regulatory jurisdiction with limited client protection.

• Regulated by the VFSC (Vanuatu Financial Services Commission) – Licence No. 15008
• Not regulated by FCA, ASIC, CySEC, or other major authorities
• No investor compensation scheme
• No verified negative balance protection
• Client fund segregation is claimed but not externally audited

Pricing and Costs

N1CM offers competitive spreads on ECN accounts but lacks full cost transparency and fee disclosures.

• Spreads:
  • ECN: From 0.1 pips
  • Standard: From 1.2 pips
• Commissions:
  • ECN Account: $6 per lot round-turn
  • Standard Account: Commission-free
• Deposit/Withdrawal Fees:
  • Internal fees not charged, but processor fees may apply
• Inactivity Fee:
  • Not clearly stated

Educational Resources and Customer Support

N1CM provides only basic educational content, with a primary focus on account setup and platform usage.

• Education:
  • Platform guides and general forex articles
  • No structured courses or webinars
• Market Analysis:
  • Occasionally updated news and insights
• Customer Support:
  • 24/5 live chat, email, and phone support
  • No multilingual service confirmed

Risk Management Tools

Risk control is handled via MT4 and MT5 platforms, with no proprietary enhancements offered.

• Stop-loss, take-profit, and trailing stop orders
• No guaranteed stop-loss orders (GSLOs)
• No custom risk analytics or dashboards
• Leverage is fixed per account but not adjustable by traders

Pros and Cons

Pros

• MT4 and MT5 platform access
• High leverage up to 1:1000
• Crypto deposits accepted
• Low minimum deposit of $50
• ECN spreads available for active traders

Cons

• VFSC regulation offers limited protection
• No investor compensation scheme or fund security guarantees
• Basic education and no advanced trading tools
• Transparency on fees and slippage is lacking
• No GSLOs or negative balance protection confirmed

Conclusion: Is N1CM the Right Choice?

N1CM is best suited for high-risk traders seeking leverage and flexibility with crypto funding and MT4/MT5 access, but it falls short in regulation, investor protection, and platform transparency. While its ECN pricing and low-cost structure may appeal to experienced traders, those prioritising security should consider regulated brokers like AvaTrade, IC Markets, or Pepperstone.