Compare N1CM vs ForexMart
What is N1CM? What is ForexMart?
N1CM, is a forex and CFD broker that was founded in 2017 and is regulated by the Vanuatu Financial Services Commission (VFSC). N1CM offers a range of trading products, such as forex, indices, commodities, shares, cryptocurrencies, and metals. N1CM also provides traders with the MetaTrader 4 and MetaTrader 5 platforms, as well as various account types, bonuses, and payment methods.
ForexMart is a forex and CFD broker that was established in 2015 and is regulated by the Cyprus Securities and Exchange Commission (CySEC). ForexMart offers trading in forex, shares, metals, and cryptocurrencies. ForexMart also supports the MetaTrader 4 platform, as well as web and mobile trading. ForexMart has a low minimum deposit requirement, zero spreads, and no deposit fees.
N1CM vs ForexMart Regulation Comparison
N1CM is regulated by the VFSC, which is the financial regulator of Vanuatu, a small island nation in the South Pacific. The VFSC is not a very reputable or strict regulator compared to other global regulators, such as the FCA or ASIC. The VFSC does not have a compensation scheme or a negative balance protection policy for its clients. Therefore, trading with N1CM may entail a higher risk of losing money due to fraud or insolvency.
ForexMart is regulated by the CySEC, which is the financial regulator of Cyprus, a member state of the European Union. The CySEC is a more credible and reliable regulator than the VFSC, as it follows the rules and standards of the EU’s Markets in Financial Instruments Directive (MiFID). The CySEC also offers a compensation scheme of up to 20,000 EUR per client in case of broker failure or bankruptcy. Moreover, ForexMart provides negative balance protection to its clients, which means they cannot lose more than their initial deposit.
N1CM vs ForexMart Trading Assets Comparison
N1CM offers more than 50 forex pairs, 10 global indices, 4 commodities (oil, gas, copper), over 100 shares from global companies, 5 cryptocurrencies (BTC, BCH, ETH, LTC, XRP), and 5 precious metals (gold, silver, copper, platinum, palladium).
ForexMart offers only 40 forex pairs, no indices or commodities (except oil), over 100 shares from global companies (mostly European), 4 cryptocurrencies (BTC, BCH, ETH, LTC), and 3 precious metals (gold, silver, platinum).
N1CM vs ForexMart Trading Fees Comparison
N1CM has three account types: Classic ($5 minimum deposit), Advanced ($100 minimum deposit), and Elite ($500 minimum deposit). The Classic account has no commissions but higher spreads starting from 0.5 pips. The Advanced account has lower spreads starting from 0.3 pips but charges a commission of $6 per lot round turn. The Elite account has the lowest spreads starting from 0.1 pips but charges a commission of $4 per lot round turn.
ForexMart has two account types: Standard ($5 minimum deposit) and Zero Spread ($200 minimum deposit). The Standard account has no commissions but variable spreads starting from 0 pips. The Zero Spread account has fixed spreads of 0 pips but charges a commission of $2 per lot round turn.
N1CM vs ForexMart Account Types Comparison
N1CM has three account types: Classic ($5 minimum deposit), Advanced ($100 minimum deposit), and Elite ($500 minimum deposit). All account types have a maximum leverage of 1:1000 and allow hedging and scalping strategies.
ForexMart has two account types: Standard ($5 minimum deposit) and Zero Spread ($200 minimum deposit). Both account types have a maximum leverage of 1:3000 and allow hedging and scalping strategies.
N1CM vs ForexMart Deposit Options Comparison
N1CM accepts the following deposit and withdrawal options: Visa, Mastercard, internet banking, PayPal, Neteller, Skrill, Fasapay, Bitcoin, Litecoin, Ethereum, Dogecoin, Webmoney, OKpay. N1CM does not charge any fees for deposits or withdrawals, except for some e-wallets that may charge a small percentage fee. The minimum withdrawal amount is $5 for most options.
ForexMart accepts the following deposit and withdrawal options: Visa, Mastercard, Fasapay, Perfect Money, STICPAY. ForexMart does not charge any fees for deposits or withdrawals. The minimum withdrawal amount is $1 for most options.
N1CM vs ForexMart Trading Platforms Comparison
Both N1CM and ForexMart support the MetaTrader 4 platform, which is the most popular and widely used trading platform in the forex industry. The MT4 platform offers various features and tools for traders, such as charts, indicators, expert advisors, scripts, and automated trading. The MT4 platform is available for desktop, web, and mobile devices.
N1CM also supports the MetaTrader 5 platform, which is the newer and more advanced version of the MT4 platform. The MT5 platform offers more features and tools than the MT4 platform, such as more timeframes, more order types, more indicators, more instruments, and more analytical tools. The MT5 platform is also available for desktop, web, and mobile devices.
ForexMart does not support the MetaTrader 5 platform.
N1CM vs ForexMart Analytical Tools Comparison
Both N1CM and ForexMart offer various analytical tools to their clients to help them make informed trading decisions. However, the quality and quantity of these tools may differ between the two brokers.
N1CM offers the following analytical tools to its clients: Autochartist (a powerful technical analysis tool that provides automated trading signals and chart patterns), economic calendar (a tool that shows important economic events and indicators that may affect the market), market news (a tool that provides daily market updates and analysis), trading calculator (a tool that helps traders calculate margin, profit, swap, pip value, etc.), VPS service (a service that allows traders to run their trading platforms on a remote server without interruptions).
ForexMart offers the following analytical tools to its clients: economic calendar (a tool that shows important economic events and indicators that may affect the market), market news (a tool that provides daily market updates and analysis), trading calculator (a tool that helps traders calculate margin, profit, swap, pip value, etc.).
N1CM vs ForexMart. 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 each broker has its own strengths and weaknesses. However, here are some possible factors that you may want to consider:
- Regulation: ForexMart has a more reputable and reliable regulator than N1CM, as it is regulated by the CySEC, which follows the EU’s MiFID rules and standards. ForexMart also offers a compensation scheme and negative balance protection to its clients, which N1CM does not. Therefore, if you value safety and security of your funds, you may prefer ForexMart over N1CM.
- Trading Assets: N1CM offers a wider and more diverse range of trading assets than ForexMart, such as indices, commodities, and more cryptocurrencies. Therefore, if you want to trade more than just forex, shares, and metals, you may prefer N1CM over ForexMart.
- Trading Fees: Both N1CM and ForexMart have different account types that charge different fees for their trading services. The fees depend on the spread and commission structure of each account type. Therefore, if you want to minimize your trading costs, you may want to compare the fees of each account type and choose the one that suits your trading style and volume.
- Trading Platforms: Both N1CM and ForexMart support the MetaTrader 4 platform, which is the most popular and widely used trading platform in the forex industry. However, N1CM also supports the MetaTrader 5 platform, which is the newer and more advanced version of the MT4 platform. Therefore, if you want to use the latest features and tools of the MT5 platform, you may prefer N1CM over ForexMart.
- Analytical Tools: Both N1CM and ForexMart offer various analytical tools to their clients to help them make informed trading decisions. However, N1CM offers more tools than ForexMart, such as Autochartist and VPS service. Therefore, if you want to use more powerful and convenient tools for your trading analysis, you may prefer N1CM over ForexMart.
Ultimately, the choice between N1CM and ForexMart is up to you. You may want to visit their websites and read their reviews to learn more about their services and features. You may also want to open a demo account with both brokers and test their platforms and conditions before making a final decision.
