Question 1

Is N1CM regulated and safe to trade with?

FXScope Intelligence Lab · Accepted Answer

No, N1CM is not regulated and poses significant safety risks. The CNMV (Spanish regulator) issued a warning against N1CM on July 9, 2023, for providing investment services without authorization. Despite claiming to be regulated by the Vanuatu Financial Services Commission (VFSC), no matching record exists in VFSC's Financial Dealers Licensees database. This means N1CM is not authorized to operate as a forex broker and lacks regulatory oversight. Trading with an unregulated broker means there are no legal protections for your funds, making it highly risky for investors.

Question 2

Is N1CM beginner-friendly for new traders?

FXScope Intelligence Lab · Accepted Answer

N1CM is not recommended for beginners despite offering some beginner-friendly features. While they provide a Cent Account with a $1 minimum deposit suitable for new traders, the broker's unregulated status makes it extremely risky for anyone, especially beginners who need maximum protection. The 1:1000 leverage offered can be intimidating and dangerous for inexperienced traders. Additionally, the broker has received regulatory warnings, and there are numerous user complaints about withdrawal issues. Beginners would be better served with properly regulated brokers that offer proper fund protection and investor safeguards.

Question 3

What are the withdrawal issues and processing times at N1CM?

FXScope Intelligence Lab · Accepted Answer

N1CM has significant withdrawal problems that investors should be aware of. Multiple user reviews indicate withdrawal processing can take up to 2 business days, which is slower than industry standards. Some users report frustrating delays, though others mention eventual successful withdrawals. The platform requires quick verification and adherence to procedures for smooth processing. While some users report no withdrawal fees (particularly for crypto withdrawals), the combination of slow processing times and the broker's unregulated status makes withdrawal reliability a major concern for potential investors.

Question 4

What account types and minimum deposits does N1CM offer?

FXScope Intelligence Lab · Accepted Answer

N1CM offers three main account types: Cent Account (minimum deposit $1), Standard Account, and ECN Account. The Cent Account is designed for beginners with its low minimum deposit requirement, allowing new traders to start with very small amounts. The Standard and ECN accounts target more experienced traders and offer tighter spreads from 0.5 pips on the ECN account. However, given the broker's unregulated status and CNMV warning, the attractive minimum deposit should not be the primary factor in choosing this broker, as fund safety is paramount.

Question 5

What leverage does N1CM provide and is it suitable for traders?

FXScope Intelligence Lab · Accepted Answer

N1CM offers leverage up to 1:1000, which is extremely high and poses significant risks. While this leverage can be attractive for experienced traders seeking amplified trading opportunities, it also dramatically increases the potential for losses. The high leverage, combined with the broker's unregulated status, creates a particularly dangerous trading environment. Traders should be aware that such high leverage can quickly deplete accounts, especially during volatile market conditions, and the lack of regulatory oversight means no protections are in place for traders who suffer significant losses.

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