Compare N1CM vs FXOpen
What is N1CM? What is FXOpen?
N1CM is an offshore forex and CFD broker launched in 2017 and based in Vanuatu. The brand offers highly leveraged trading on nearly 100 instruments via the MetaTrader 4 and MetaTrader 5 platforms. The brokerage also offers a range of account types including a raw spread account with low commission fees, which will appeal to active forex traders.
FXOpen is a multi-asset broker with regulation from several trustworthy bodies including the UK’s FCA. The broker offers CFD trading on forex, stocks, commodities, indices, cryptocurrencies and ETFs via the MetaTrader 4 & 5 and TradingView platforms.
N1CM vs FXOpen Regulation Comparison
N1CM is regulated by the Vanuatu Financial Services Commission (VFSC), which is a weak and offshore regulator that does not offer much protection or oversight to traders.
FXOpen is regulated by the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, and the Australian Securities and Investments Commission (ASIC) in Australia. These are reputable and strict regulators that impose high standards of conduct and security for brokers and traders.
N1CM vs FXOpen Trading Assets Comparison
N1CM offers trading on 50+ forex pairs, 25+ cryptocurrency CFDs, shares CFDs, index CFDs, spot metals CFDs and commodity CFDs. FXOpen offers trading on 600+ instruments, including forex, CFDs, indices, commodities, cryptocurrencies, ETFs and shares.
N1CM vs FXOpen Trading Fees Comparison
N1CM charges variable spreads from 0.1 pips on its ECN account, which also has a commission fee of $15 per lot round turn. The classic account has no commission but wider spreads from 0.3 pips. The cent account has no commission but fixed spreads from 2 pips. The swap-free Islamic account has similar conditions as the classic account but without swaps or rollover fees.
FXOpen charges variable spreads from 0 pips on its ECN account, which also has a commission fee of $1.5 per lot round turn. The STP account has no commission but wider spreads from 0.7 pips. The crypto account has no commission but spreads from 0 pips and a half-turn fee of 0.5% of the trade volume. The micro account has no commission but fixed spreads from 2 pips.
N1CM vs FXOpen Account Types Comparison
N1CM offers four types of accounts: ECN, classic, cent and Islamic. The minimum deposit for the ECN and classic accounts is $100, while the cent account requires only $5. The Islamic account is available upon request for Muslim traders who follow Sharia law.
FXOpen offers five types of accounts: ECN, STP, crypto, micro and PAMM. The minimum deposit for the ECN and STP accounts is $300, while the crypto account requires only $10. The micro account requires only $1 but has a maximum balance limit of $3,000. The PAMM account is a service that allows investors to copy the trades of professional traders for a fee.
N1CM vs FXOpen Deposit Options Comparison
N1CM accepts deposits and withdrawals via credit/debit cards, FasaPay, Perfect Money, STICPAY and Bitcoin payments. FXOpen accepts deposits and withdrawals via credit/debit cards, Neteller, Skrill, Trustly, WebMoney, Wire Transfer, Yandex Money and various cryptocurrencies.
N1CM vs FXOpen Trading Platforms Comparison
N1CM supports both MetaTrader 4 and MetaTrader 5 platforms for desktop, web and mobile trading.
FXOpen supports MetaTrader 4 & 5 as well as TradingView and TickTrader platforms for desktop, web and mobile trading.
N1CM vs FXOpen Analytical Tools Comparison
N1CM does not offer any advanced analytical tools apart from the ones built-in in the MetaTrader platforms.
FXOpen offers Autochartist as a free service for its clients who trade at least 10 lots per month or have a balance of at least $5000. Autochartist is a powerful tool that provides automated technical analysis, trading signals and chart patterns.
N1CM vs FXOpen. 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 style, goals and risk. There is no definitive answer to which broker is better, as different brokers may suit different traders better. FXOpen is a better forex broker than N1CM in most aspects. However, this does not mean that N1CM is a bad broker or that FXOpen is the best broker for everyone. You should always do your own research and due diligence before choosing a broker. You should also consider your own preferences, trading style, goals and risk appetite.
