T1Markets review 2021
Foundation Year : 2020
T1Markets is a new financial services provider that was launched in 2020 and offers opportunities to trade on CFD and Forex markets. The company is based in Limassol, Cyprus.
|💰 Trading fees class||Low|
|💰 Inactivity fee charged||Yes|
|💰 Withdrawal fee amount||$0|
|💰 Minimum deposit||$250|
|☪️ Islamic Account||Yes|
|🕖 Time to open an account||1 day|
|💳 Deposit with bank card||Available|
|👛 Depositing with electronic wallet||Available|
|📈 Total Assets||250+|
|🎮 Demo account provided||Yes|
|🛍️ Products offered||Forex, Commodities, Indices, Shares|
T1Markets provides a simple yet effective and reliable trading platform suitable for both novice and experienced traders. Clients of the financial services provider gain access to over 300 assets and the ability to trade commission-free including the most popular stocks, commodities, metals, cryptocurrencies, and forex, and learn to trade at their own pace.
Pros and Cons
T1Markets has several benefits for the market traders, with some cons that a trader needs to be aware of for using the brokerage services of T1 Markets. Let’s check out the pros and cons of T1Markets in the next paragraph.
T1Markets has numerous advantages for the financial market investors and traders that enhances their trade and profits. The broker is well regulated and authorised with CySEC regulation. The authority of a recognised body wins the trust of the traders, and they prefer brokers for their trade services. The clients of T1Markets with regulation are protected from fraudulent activities of the financial market. The funds are segregated with proper auditing.
The broker, along with this, offers traders 300 plus market instruments to invest, which would diversify their portfolio and give more trade opportunities. Traders can enjoy high profits and a regulated trade by monitoring devices. The brokerage firm has the best and most user friendly trading platform that would increase the accessibility of the services and the market.
The MetaTrader4 has expert advisors, flexibility, customisation, technical tools and fundamental tools, 30 plus indicators and charts for executing the trade. Traders can use all the tools to plan and analyse the market. This would enhance the chances of profits with a good trade strategy. Other than this, the mobile application of the broker makes it accessible anywhere and anytime.
Traders are able to use the devices and monitor the market fluctuations, which would give them an idea about the market operations. The traders’ costs are reduced due to the online platforms and services of the broker. The clients can check and contact brokers online with 24 hours services of the T1 Markets.
T1Markets customer support helps traders solve their queries and trade smoothly. However, the broker has one disadvantage of high overnight swap fees, making trade a bit difficult. As a result, traders have to pay extra for the trade.
Regulation Information of T1Markets
As noted earlier, T1Markets is a relatively new CFD services provider. The company is regulated by the Cyprus Securities and Exchange Commission (CySEC) through the trade name General Capital Brokers Ltd.
In line with its regulatory requirements, the financial service provider offers segregated accounts, a policy of negative balance protection, and provides other legal protections such as know your customer (KYC), anti-money laundering (AML), and European Securities and Markets Authority guidelines (ESMA).
According to the platform’s documentation, the company also collaborates with the Investor Compensation Fund for clients of investment firms regulated in Cyprus, which means that all clients may be eligible for compensation up to €20,000 in case of the company’s bankruptcy.
Quality of the safety measures
Security has become an important point in trading. However, T1Markets inspires confidence in this regard, as it owns the CySEC license and high-quality encryption. The regulator ensures that you get your funds back even in the event of possible violations. However, the likelihood of T1Markets attempting to commit any malicious conduct is in itself small given the firm’s impeccable reputation.
T1Markets also provides high-grade encryption for all data entered by customers. Encryption ensures that even if compromised, customer data is encrypted and cannot be read without a key. Naturally, this leads to the fact that only you and the company can see what you enter. Finally, the firm promises not to share your data with third parties, which is encouraging and has become quite common.
Account types for T1Markets
Trading account options at T1Markets fall into three categories:
Each type offers tiered conditions and access to services. The type of account depends on the amount of the deposit and the user’s trading behavior. After successful registration, a customer care consultant calls the new user to advise on how to set up an account type. The accounting consultant then decides which category the new account falls into. Spreads and swaps depend on account status. For example, Platinum members can benefit from lower spreads and higher leverage (for professional accounts). Besides, Platinum members receive a 50% discount on trade and Gold members are eligible for a 25% discount. Unlike Gold and Platinum accounts, Silver members do not receive a free VPS and 5 decimal places for their trades.
Another interesting detail about the account type at T1Markets is that there is a difference between retail and professional traders. A professional account upgrade allows you to get a higher level of leverage and also some special loyalty offers. The firm may have made a distinction as new traders end up getting ahead of themselves with leverage and end up losing far more than they can afford. Also, they offer Islamic accounts, which allows more traders to use the services of T1Markets. Each client also has a personal account manager to help them.
T1Markets has a demo account that you can use to test every aspect of the company’s brokerage service. There are demo tools in the account that you can use to get an authentic trading experience through your chosen platform. You will also be able to view the full list of assets, as well as feel the speed of transaction response. However, it is important to note that the demo account is free and can be used without restrictions. Clients can also use the demo trading account to test the broker and swap-free Islamic accounts. Once you are sure you want to deposit, you can proceed to open a live account.
Other trading conditions
The trading conditions at T1Markets are good enough to compete with the market leaders. Leverage reaches 1:500, which opens up great prospects but does not allow you to get carried away so as not to lose a lot. The spreads are tight and allow for accurate predictions and trades. The advanced account types also provide you with a very nice swap discount. There are also many payment and withdrawal methods, and they are all processed fairly quickly.
T1Markets trading fee
Typically, T1markets only charges the spread and does not charge any additional or hidden fees. The spread commission is charged or debited from your position depending on various factors such as the position and the assets traded. As for deposits, they are credited immediately and free of charge. The T1Markets trading platform does not charge any commission or commission for the deposit. The minimum deposit to activate an account is € 250. Withdrawals can take up to 5 days, although fees may apply under certain circumstances. However, customers should be aware of the fees associated with inactive accounts as well as the costs of processing withdrawals.
Besides, T1Markets charges a specific fee for withdrawing funds from your trading account to be sent to your bank account. There is usually a € 15 withdrawal fee for wire transfers.
The leverage is the ratio that boosts the trading position of the traders. It is used by the investors for a high market position and increased profits on the investment. T1Markets broker offers a high leverage ratio for the clients to have good market opening and double their investments. The broker has a maximum leverage ratio of 1:30 for retail investors and 1:200 for professional traders.
Traders can access the leverage when they are confident of their trade and feel that they would earn a good return. As this would enhance their trade along with a double profit. So, traders can reinvest the profit into the trade with more chances of growing as a trader.
However, the leverage is like a loan that turns out to be a debt if not fruitful. The broker provides traders with leverage, which would take traders two steps back from the market position if traders incur a loss. As the debt will increase the risk, tension and emotions of the investor. Traders, therefore, have to be careful while using the leverage ratio that T1Markets offers.
Most traders also get confused with the leverage ratio and margin of the T1Markets. Although the two terms are different and operate differently, leverage is the ratio that enhances market position and trade risk along with high returns. On the other hand, the margin is the initial amount that clients are required to pay for trading online.
So, both the terms are different with different functions in the financial markets.
Traders of T1Markets should use the leverage ratio with full market analysis with a set strategy to be confident of their trade practices. This would increase the profits, confidence and make traders less emotional. They would prefer using their mind and market analyses more than their gut feelings.
Trading platform on T1Markets
In providing a platform for clients, T1Markets has made a solid choice in favor of MetaTrader4. This software has been one of the most widely used platforms for quite some time due to its high-end options. New traders benefit from an intuitive interface and ease of use, which allows them to quickly start trading on their own. Advanced traders also have tons of analytical tools, each of which they can use to improve the accuracy of their forecasts.
Usage of the platform
T1Markets users can access the MetaTrader 4 platform through itsMT4 trading terminal, WebTrader option, or mobile trading application powered by MetaTrader 4, one of the most popular trading applications on the market.
The trading platform provides a wide range of professional trading tools, including dozens of indicators, an economic calendar, price alerts and quotes, platform support, various execution modes, technical analysis tools, and more. The platform is extremely intuitive.
You do not need to download the platform’s web trader and you can trade directly from your browser. However, you can download the MetaTrader 4 platform on your computer and mobile phone if you like. It can be found in the downloads section of your account control panel.
When it comes to trading on the go, the MetaTrader 4 mobile app is available for both iOS and Android devices. The mobile app supports key exchange functions, making it easy to trade and adjust positions on the go.
Apart from everything else, given that T1Markets allows you to open a demo account to test various trading strategies and tactics, you can practice using the platform before investing large amounts of money in trading.
T1Markets Trading Products
T1Markets’ asset selection is wide and covers all relevant categories, and deep down there are many different assets that you can trade. Namely, the total number is over 350, which means that you are more likely to find your trading product preferred. Tools fall into the following categories:
- Digital currencies
- Stocks and Indices
Since there are so many asset classes on offer, it is easier for clients to find trading opportunities no matter what the markets do. Assets available are represented by more than 45 currency pairs, CFDs on over 30 cryptocurrency pairs, CFDs on over 20 agricultural products, energy products and metals, CFDs on over 20 major stock indices, and CFDs on over 45 of the world’s largest stocks.
Support service of T1Markets
T1Markets customer support is active Monday through Friday from 7:00 am to 5:00 pm GMT. The support team is quick to respond, although you will have to wait until the next business day if you run into problems outside of business hours.
Support can be contacted through the following channels:
- Email the address
- Live chat on the site
- Customer Support Center
- Contact us form
Education and Research at T1Markets
T1Markets provides its clients with up-to-date educational content. T1Markets has an extensive collection of training materials that traders can use to improve their competence. The best part is that it is completely free and even non-clients can access everything.
The company’s rich educational portal includes courses, tutorials, e-books, and videos on demand. It also includes a reporting season calendar and an economic calendar to determine potential future opportunities. While the tutorials are most suitable for novice traders, some materials will be useful for more experienced traders. Here is a list of the learning resources available with brief characteristics:
- Courses. Courses include information on social commerce and economics.
- Study guides. The tutorials are designed for the MetaTrader 4 platform and teach clients how to get the most out of it.
- EBooks. The eBook section is one of the largest and includes technical analysis for beginners and advanced, trading psychology, money management, and more.
- Video on demand (VOD). The VOD section provides videos on a variety of topics.
- Calendars of economic / income statements. These calendars will aid in the design of future trading strategies and in deciding where to focus your research.
Account opening at T1Markets
In general, the process of opening a T1Markets account is not long and takes a little time and effort. Due to the strict legal requirements of the European Union, every new customer must undergo a compliance check to ensure they understand the risks of trading and are eligible to trade. When you open an account, you will be asked to provide proof of your personal information. Usually, a scanned color copy of your ID or driver’s license and a utility bill or bank statement from the last three months with your address is sufficient proof. You will also need to answer a few basic questions about compliance and validate your trading experience. However, this only applies to a real money account, so you can test the platform with a demo account without verification.
Conclusion on the T1Markets review
T1Markets is an excellent financial services provider across the board. Starting with the most important details, their security is top-notch, ensuring fair trade. To top it off, the services you get while trading is also amazing, competing with companies that have been on the market for years. Lots of luxury services are also provided, which show us that the broker paid great attention to detail. T1Markets allows its clients to invest in cryptocurrency CFDs as well as other major global markets. In general, from a mono user interface, you can trade on the Forex, commodities, indices, stocks, and metals markets. For example, the company offers a market-leading platform, MetaTrader4, which has two important convenient features: the capabilities of a web trader and a mobile trader. Mobile trading allows you to trade from any mobile device with a simple app download and internet connection. The Web trader serves the same purpose by increasing the mobility of the trader but in a different way. This option allows traders to access the platform through any desktop device, simply by logging into their account, without the need to download, which makes trading conditions as easy as possible and makes trading available to traders. All the important factors mentioned above are made even more impressive because T1Markets is less than a year old.
And finally, it is important to note that thanks to the CySEC regulatory framework, the company’s services are available in many European countries and can be used by everyone in the region.
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