A broker compliant with a leading super agency, T1Markets is a broker we have to look into. To register with the platform, one must provide their legal ID documents. It is a good sign that their registration process is genuine and transparent. Their website is also enticing and has a good user interface. To navigate the pages is easy, and the broker well explains the information. We could not find any fault with the broker at first sight. Read this entire T1 Markets review for more.
Suspicious T1Markets Reviews
Notice: Websites that feature “Top 10 Forex Brokers” are getting paid by those brokers and thus, you cannot take their reviews at face value.
If you search the term “T1Markets Reviews”, you’ll see countless reviews rating the broker 5 stars. Now, for a broker which deserves such a rating, it’s not big deal. But as we’ll see in this review, it isn’t as perfect as the paid blogs are marketing it to be.
This presents a question on the legitimacy of the reviews on these websites. However, that’s not the topic right now. We advice that you read those reviews with a grain of salt.
What is T1Markets
T1Markets is owned by General Capital Brokers Ltd (GCB), which is regulated by CySEC. There are more than 300 financial assets to choose from that cover all markets. The broker also gives users access to different informative articles, training courses, and videos. Thanks to its user-friendly interface, users can trade using the MT4 trading platform. You can also trade on the go as the platform is mobile-friendly. And this is a recipe for an excellent broker to work with as they are ever available.
All trading instruments
There are over 160 markets that can be traded by the broker. These include CFDs on commodities, stocks, precious metals, and others. There are over 45 currency pairs and 45 shares. When it comes to CFDs on Crypto, the platform offers over 30 crypto assets. Get over 20 raw materials and 20 indices on the same platform. Precious metals covered by the broker include Gold, platinum, and silver.
Available trading platforms
As mentioned earlier, the platform is using the MT4 trading platform, which offers a considerable advantage. Some of the features we noticed with the platform include having over 30 technical indicators. Users don’t have to download the platform as they can use the web-terminal. There are multiple execution modes with real-time quotes. Investors also get built-in platform support. Users can access mobile trading with the broker. There’s an MT4 trading app for android and IOS.
The MT4 mobile app comes with nine different timeframes and access to technical analysis tools. Users can view real-time prices and have the ability to trade on the go. The mobile platform will also give users full access to tools available on web trader. Mobile trading via smartphones is becoming ever popular; hence the need for this platform. Members simply have to download the platform with ease from the android and IOS play store. With a quick download, you can enjoy trading with this broker.
Bonus and promotions
Investors should not expect any bonus or promotions with this platform. Brokers who offer bonuses and promotions tend to take advantage of investors. It is the main reason why regulatory institutions ban the use of bonuses and promotions. Without a bonus and promotion feature, it means all transactions are legit and follow protocol. T1 Markets is doing what the regulator asks from investors. The broker is working under regulatory restrictions.
Can you make money with the broker?
Any CySEC-regulated entity is considered as a safe investment option. It means that the broker is MiFID-Compliant and allows trans-Euro trading to take place. The broker is a Cypriot based broker, and investors should be able to make money with them.
Fees on the available assets
The deposits credited are free of charge, and the minimum deposit is 250 Euros. Withdrawals can take up to five days. There are cases where fees apply due to the method of withdrawal available on the platform. The broker also reserves the right a 50 EUR withdrawal fee if there’s no trading activity.
License and registration of T1Markets
T1Marketys is dully licensed and registered by CySEC. Since Cyprus is part of the EU, the broker is subjected to strict legal requirements for all EU states. There are guidelines that the broker must follow and adhere to. If the broker goes bankrupt or faces insolvency, users will still have access to their funds. And this is the main difference between regulated and unregulated entities. With regulated entities, the safety of client funds is guaranteed as the broker must deposit insurance deposit.
From the records, we can determine their license number. The regulator issued the broker with 333/17, with the license date marked 10/18/2017. Thanks to the license details, we can also note that the regulator has approved their domain. Interested parties can check with the regulator to confirm their license details whenever possible.
Is T1Markets Reliable?
T1Markets is furnishing users with three account types to choose from. Accounts are listed as Silver, Gold, and Platinum. There is no deposit commission on either of the accounts, and the leverage up to retail is 1:30. The leverage up to professional is set at 1:200, 1:400, and 1:500, respectively. Spreads also differ and are set at 0.07 for the silver account, 0.05 for gold, and 0.03 for platinum. Available base currencies on all accounts are the same as they include EUR/USD, GBP/USD, USD/JPY, AUD/USD, and more.
How To Open An Account With T1Markets
Due to the strict EU regulation, every interested user must undergo stringent compliance checks. When opening an account, interested parties must provide proof of their details. These include a scanned color copy of your ID and a bank statement. A driver’s license or utility bank and your address as sufficient proof may be required. There are a few basic compliance questions to answer before getting an account.
Payment methods Available
There are simple and secure payment methods available on the platform. The broker allows users to make deposits via various banking options such as DECTA, MasterCard, Neteller, Skrill, and others. One can make deposits directly via the client portal area. All withdrawal requests must be submitted before 09:00 AM CY time for same-day processing. Any submissions made after this time and the process proceeds the following business day.
Mediocre Customer Service
T1Markets seems to have not-so-good customer service. Their lack of prompt responses take away the professionalism. For a broker which claims to be among the best, it has customer service which is comparable to a new broker.
Safety of funds with T1Markets
The broker takes part in the Investor Compensation Fund. It means that members have a guarantee of safety protection of up to 20,000 Euros. There are strict firewall rules and SSL protection to protect users from any unforeseen safety issues. There’s a PCI Level 1 compliance with all these transactions. There is DDoS protection to protect users from third-party attacks. The broker will not share your personal information with any third party.
T1Markets Review 2020 Verdict
From the look of things, we are confident that T1Markets is a legit broker. We do recommend the broker as they are valid and have followed all requirements. Interested parties should sign up and share their experience with us. The platform was recently created, and there is no chatter on trading forums. One problem that we must expose is the high overnight swap fees. It is a feature that investors must understand before signing up.
T1Markets has good features, it is regulated and authorized by several authorities. But the obviously sponsored reviews seem to show that they want to hide some crucial information from traders (e.g. their lethargic customer service).
- Good Features
- Questionable Reviews
- Lethargic Customer Service
- High Overnight Swap Fees