T1Markets: The Newest Broker Put To The Test

T1Markets is a relatively new CFD and forex broker based in Cyprus. It offers a wide selection of asset classes. T1Markets differentiates itself from its competition with a large choice of (more than 30) cryptocurrencies. T1Markets offers the following asset classes:

More than 45 forex pairs
More than 45 stocks
More than 30 cryptocurrencies
More than 20 raw materials
More than 20 indexes
3 metals

Using the platform

The platform impresses with a very modern and intuitive design. You immediately get the gist of using it, and could start trading right away after sign up and verification. Verification requires a photo-ID, after which you have to answer a few questions and you’re good to go. T1Market offers a wide selection of training material, which you should ideally make use of in case you’re a beginner.

The account types

T1Markets offers three different types of accounts with different properties, silver, gold and platinum. You can choose which type of account you’ll open based on your payments, capital and your trading behavior. There’s also a demo account for those wanting to test the platform or try trading with no risks. This is especially interesting for beginners. Another advantage of the platform is that it’s multilingual. T1Markets offers 7 languages to choose from.

As soon as you register, you receive a call from the customer support to help you select the right account for you:

Silver:

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Free Virtual Private Server (VPS): No
Swap discount: 0 %
Spread: 0.07
Leverage: 1:200

Gold:

Free VPS: Ja
Swap discount: 25 %
Spread: 0.05
Leverage: 1:400

Platinum:

Free VPS: Ja
Swap discount: 50 %
Spread: 0.03
Leverage: 1:500

Interface

Accessing the T1Markets platform is easily done with the classic software MetaTrader 4. MetaTrader 4 (MT4) is the most widely used trading software and is used by multiple brokers. Additionally, you can access MT4 via a web-interface, the Webtrader, which allows for a lot of flexibility. With the mobile app you can even check prices and execute trades on the go.

Deposits and withdrawals

T1Markets supports deposits from:

Visa / Mastercard
Neteller
Skrill
Wirecard
DECTA
Orangepay
Trustly
VPay

Deposits are credited instantly with no fees. The minimum depost is 250 Euros. Withdrawals can take up to 5 days, and fees might apply in certain circumstances.

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Security and regulations

As akready mentioned T1Markets is based in Cyprus, and is subject to the local financial market authority known as the Cyprus Securities and Exchange Commission (CySEC). T1Markets operates under license number 333/17, dated on the 10th of August 2017. Through CySEC T1Markets is subject to strict regulations and fully conforms with EU law.

T1Markets is also a member of the Investor Compensation Fund (ICF). The latter protects the customers’ funds up to a value of 20,000 Euro. This puts T1Markets in a great position when it comes to security and regulations.

Customer service and support

T1Markets has a reliable customer service. The customer service center takes calls from Monday to Friday from 8:00 am to 6:00 pm. Reaching out via live-chat or e-mail are also possible.

How does T1Markets earn money?

T1Markets doesn’t charge fees on trades, however the company still needs to generate revenue. This is done from the spreads, which is the difference between the bid and the ask price. The spread depends on the asset and on the type of account of each user. There’s also so called swap fees charged for holding positions open over night. These also depends on the account type (see above).

Conclusion

T1Markets is a modern broker offering a medium sized selection of assets. It’s especially convenient for crypto lovers, as it offers a decent amount of cryptocurrencies. Due to their safe regulation and security T1Markets is worth taking a look at.

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