Compare N1CM vs Fortrade
What is N1CM? What is Fortrade?
N1CM is a trading name of Number One Capital Markets, a forex and CFD broker launched in 2017 and based in Vanuatu. The broker offers highly leveraged trading on nearly 100 instruments via the MetaTrader 4 and MetaTrader 5 platforms.
Fortrade is a UK-based forex and CFD broker founded in 2013 and regulated by the FCA. The broker provides access to over 300 instruments across forex, stocks, indices, commodities, ETFs and cryptocurrencies via its proprietary web-based platform, as well as the MetaTrader 4 platform.
N1CM vs Fortrade Regulation Comparison
N1CM is licensed and regulated by the Vanuatu Financial Services Commission (VFSC), which is considered a weak regulatory authority in terms of investor protection. N1CM does not accept clients from the USA, Canada, Japan, Iran, North Korea and some other countries.
Fortrade is authorised and regulated by the Financial Conduct Authority (FCA) in the UK, which is one of the most reputable and strict regulators in the world. Fortrade also holds licenses from ASIC in Australia, IIROC in Canada and CySEC in Cyprus. Fortrade does not accept clients from the USA and some other countries.
N1CM vs Fortrade Trading Assets Comparison
N1CM offers trading on 50 forex pairs, 26 stocks, 9 indices, 5 cryptocurrencies and 8 metals. The broker does not offer trading on commodities or ETFs.
Fortrade offers trading on over 300 instruments, including 60 forex pairs, 150 stocks, 20 indices, 19 commodities, 6 ETFs and 50 cryptocurrencies. The broker has a wider range of assets than N1CM.
N1CM vs Fortrade Trading Fees Comparison
N1CM charges variable spreads that depend on the account type and market conditions. The broker offers four account types: Classic, Cent, ECN and Islamic. The Classic account has spreads from 0.3 pips but charges no commission. The Cent account has spreads from 0.6 pips and also charges no commission. The ECN account has spreads from 0 pips but charges a commission of $3 per lot per side. The Islamic account has spreads from 0.6 pips and charges no commission or swap fees.
Fortrade charges fixed spreads that vary depending on the instrument and account type. The broker offers two account types: Standard and Pro. The Standard account has spreads from 2 pips for major forex pairs and no commission. The Pro account has spreads from 0.6 pips for major forex pairs but charges a commission of $6 per lot per side.
N1CM vs Fortrade Account Types Comparison
N1CM offers four account types: Classic, Cent, ECN and Islamic. The minimum deposit for the Classic account is $5, for the Cent account is $5, for the ECN account is $500 and for the Islamic account is $1000. The maximum leverage for all accounts is 1:1000.
Fortrade offers two account types: Standard and Pro. The minimum deposit for both accounts is $100. The maximum leverage for the Standard account is 1:30 for EU clients and 1:200 for non-EU clients. The maximum leverage for the Pro account is 1:200 for EU clients and 1:500 for non-EU clients.
N1CM vs Fortrade Deposit Options Comparison
N1CM supports a variety of deposit and withdrawal methods, including bank transfer, credit/debit cards, e-wallets (Neteller, Skrill, Perfect Money, FasaPay), cryptocurrencies (Bitcoin, Ethereum, Litecoin) and local bank transfers in some countries. The broker does not charge any fees for deposits or withdrawals.
Fortrade supports fewer deposit and withdrawal methods than N1CM, including bank transfer, credit/debit cards, e-wallets (Neteller, Skrill) and local bank transfers in some countries. The broker does not charge any fees for deposits or withdrawals either.
N1CM vs Fortrade Trading Platforms Comparison
N1CM provides both MetaTrader 4 and MetaTrader 5 platforms to its clients. These are popular and powerful platforms that offer advanced charting tools, technical indicators, automated trading with expert advisors (EAs), market news and signals. The platforms are available as desktop applications, web versions and mobile apps for iOS and Android devices.
Fortrade provides its own proprietary web-based platform as well as the MetaTrader 4 platform. The Fortrade platform is user-friendly and intuitive, offering simple charting tools, risk management features, trading signals and educational resources. The platform is accessible from any browser and does not require any download or installation. The MetaTrader 4 platform offers the same features as N1CM’s version.
N1CM vs Fortrade Analytical Tools Comparison
N1CM offers some analytical tools to its clients, such as an economic calendar, market news, trading signals and technical analysis. The broker also provides free educational resources, such as webinars, videos, articles and e-books on various trading topics.
Fortrade offers more analytical tools than N1CM, such as an economic calendar, market news, trading signals, technical analysis, trading central, sentiment analysis and pattern recognition. The broker also provides free educational resources, such as webinars, videos, articles and e-books on various trading topics.
N1CM vs Fortrade. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that depends on your personal preferences, trading goals and risk appetite. There is no definitive answer to which broker is better, as different brokers may suit different traders. However, here are some possible factors that you may want to consider:
- Regulation: If you value security and protection, you may prefer Fortrade over N1CM, as Fortrade is regulated by the FCA and other reputable authorities, while N1CM is regulated by the VFSC, which is considered a weak regulator. Fortrade also offers negative balance protection and segregated client funds, which N1CM does not .
- Trading Assets: If you want to diversify your portfolio and trade a wide range of instruments, you may prefer Fortrade over N1CM, as Fortrade offers over 300 instruments across various asset classes, while N1CM offers only around 100 instruments and does not offer commodities or ETFs .
- Trading Fees: If you want to save on trading costs and enjoy tight spreads, you may prefer N1CM over Fortrade, as N1CM offers variable spreads that start from 0 pips for the ECN account and charges no commission for the Classic and Cent accounts, while Fortrade offers fixed spreads that start from 2 pips for the Standard account and charges a commission of $6 per lot per side for the Pro account .
- Account Types: If you want to trade with high leverage and low minimum deposit, you may prefer N1CM over Fortrade, as N1CM offers four account types with a maximum leverage of 1:1000 and a minimum deposit of $5 for the Classic and Cent accounts, while Fortrade offers two account types with a maximum leverage of 1:200 for EU clients and 1:500 for non-EU clients and a minimum deposit of $100 for both accounts .
- Deposit and Withdrawal Options: If you want to have more flexibility and convenience in funding and withdrawing your money, you may prefer N1CM over Fortrade, as N1CM supports more deposit and withdrawal methods than Fortrade, including cryptocurrencies and local bank transfers in some countries .
- Trading Platforms: If you want to have more choice and functionality in your trading platform, you may prefer N1CM over Fortrade, as N1CM provides both MetaTrader 4 and MetaTrader 5 platforms, which are popular and powerful platforms that offer advanced charting tools, technical indicators, automated trading with expert advisors (EAs), market news and signals, while Fortrade provides its own proprietary web-based platform, which is user-friendly and intuitive but has less features than the MetaTrader platforms .
- Analytical Tools: If you want to have more support and guidance in your trading decisions, you may prefer Fortrade over N1CM, as Fortrade offers more analytical tools than N1CM, such as trading central, sentiment analysis and pattern recognition .
Ultimately, the best way to decide which broker is better for you is to try them out yourself. You can open a demo account with both brokers and test their services before committing to a real account.
