N1CM: Number One Capital Market Review 2026

Our Overall Verdict

N1CM (Number One Capital Markets) is an offshore online brokerage founded in 2017 that focuses on high-leverage CFD and forex trading via MetaTrader 4 and MetaTrader 5. While the broker provides accessible entry conditions, including a $10 minimum deposit, competitive floating spreads on its ECN account, and leverage up to 1:1000, its regulatory standing warrants considerable caution. The company holds a Tier-3 license from the Mwali International Services Authority (MISA) in Comoros, alongside conflicting website disclosures referencing Saint Lucia and older Vanuatu entities. Combined with widespread user reports concerning prolonged withdrawal processing delays, N1CM presents elevated counterparty risks that traders must weigh against its flexible trading parameters.

Who Should Use N1CM?

• Experienced scalpers and algorithmic users seeking high leverage up to 1:1000 on MetaTrader platforms.
• Traders with small starting balances who wish to access low entry requirements starting at $10.
• Individuals looking to deposit and withdraw primarily through cryptocurrencies and supported e-wallets.
• Automated traders who deploy Expert Advisors on MT4 or MT5 without strategy prohibitions.

Who Should Avoid N1CM?

• Traders prioritizing strict regulatory oversight and investor compensation protections.
• Clients seeking guaranteed, prompt payout turnaround times based on consistent user experiences.
• Residents of restricted jurisdictions, including the United States, Canada, North Korea, Iran, Turkey, Spain, Italy, and Finland.
• Beginners requiring comprehensive educational materials, proprietary beginner-friendly apps, or guaranteed negative balance protection across multi-jurisdiction entities.

Regulation and Licenses

N1CM is operated offshore and authorized by the Mwali International Services Authority (MISA) in Comoros under license number BFX2024134. However, the broker's regulatory status is complicated by conflicting representations across its own website. While its formal licensing page details the Comoros registration, other sections display an address in Saint Lucia accompanied by a notice stating the entity is not regulated or supervised by the Financial Services Regulatory Authority (FSRA) of Saint Lucia. Earlier company disclosures also reference Vanuatu company registrations. Because MISA is a Tier-3 offshore supervisor with less stringent compliance oversight than Tier-1 authorities, counterparty risk remains significant.

Client Protection

N1CM states that it maintains segregated bank accounts for client funds and provides negative balance protection to prevent account balances from falling below zero. However, the broker offers no investor compensation scheme, meaning that should the brokerage face insolvency, clients have no statutory fund to turn to for recovering deposits.

Regulatory History

Founded in 2017, N1CM has operated under varying corporate structures over time. It has moved between registrations involving Vanuatu, Comoros, and Saint Lucia. The company is privately held and is not publicly traded on any exchange.

N1CM is a retail CFD broker founded in 2017 and headquartered in Moroni, Comoros, with a registered corporate address in Saint Lucia. It is regulated by the Mwali International Services Authority (MISA) under license BFX2024134 and operates as an ECN broker. The minimum deposit is $10, while maximum leverage reaches up to 1:1000. Trading is available through MetaTrader 4, MetaTrader 5, and WebTrader, with USD as the account currency. Client protections include segregated client accounts and negative balance protection, with no investor compensation scheme.

Spreads and Commissions

N1CM utilizes a floating spread model across its account offerings. On the Standard account, spreads start from 0.8 pips with no commission charged. The ECN account features raw spreads beginning at 0.5 pips. Based on N1CM's public spreads table, the average floating spread on EUR/USD is 1 pips for Standard and 0.6 pips for ECN (with minimums of 0.9 and 0.5 pips, respectively). For GBP/USD, the average spread is 1.1 pips on Standard and 0.9 pips on ECN. Gold (XAU/USD) displays an average spread of 25 points on Standard and 22 points on ECN.

Commission schedules for the ECN account contain conflicting entries on the broker's website: the main account comparison highlights a commission fee of $2.50 per side ($5.00 per round turn), whereas the spreads and commissions page states a fee of $4.00 per side per lot ($8.00 per round turn).

Other Trading and Non-Trading Fees

N1CM does not charge deposit or withdrawal fees directly, nor does it impose account inactivity fees or currency conversion fees on supported deposits. However, overnight holding costs apply in the form of swap fees:

• Overnight Swaps: Swaps vary dynamically according to interest rate differentials and position direction (long or short). They can be positive or negative and are converted into USD.
• Triple Swap Schedule: Triple swaps are charged on Wednesday nights for forex, metals, and indices to account for the weekend settlement cycle, while cryptocurrency instruments incur triple swaps on Friday nights.

Trading Platforms

N1CM relies exclusively on the MetaTrader suite, without any proprietary trading software. Traders can access the markets using:

• MetaTrader 4 (MT4): Desktop, web, and generic mobile versions featuring charting, technical indicators, and automated trading capabilities.
• MetaTrader 5 (MT5): Upgraded multi-asset desktop, web, and mobile software with enhanced order types, timeframes, and built-in strategy testing.
• WebTrader: Browser-accessible terminals that require no installation, functioning on standard desktop browsers.
• Mobile Trading: Users are directed to download the standard MetaTrader mobile applications available on Android and iOS.

Execution and Trading Tools

N1CM provides market execution with one-click trading enabled across its platforms. The broker notes that slippage can occur during periods of low liquidity or fast-moving markets, meaning orders may execute away from requested prices. The margin call level is set at 120%, while the stop-out margin level triggers at 30%.

Automated and Copy Trading

Automated algorithmic trading is supported through MetaTrader's native Expert Advisors (EAs) and custom indicators. Hedging and scalping strategies are permitted. However, N1CM does not offer dedicated proprietary API trading solutions, nor does it maintain a formal copy trading or social trading network. Dedicated VPS hosting is also not provided directly through the broker.

Forex and CFDs

N1CM's instrument catalog spans multiple asset classes offered through Contracts for Difference (CFDs). The foreign exchange offering includes a range of major, minor, and exotic currency pairs traded on floating spreads. 

Stocks, Indices, Commodities and Other Markets

In addition to currencies, clients can trade CFDs on other asset categories:

• Commodities: Metals including Gold (XAU/USD) alongside energy contracts.
• Indices: Global cash and index CFDs representing key equity benchmarks.
• Stocks: Individual share CFDs for global corporations.
• Cryptocurrencies: A selection of digital currency CFD pairs traded 24/7.

Available Account Types

N1CM provides two primary active live account configurations, both denominated in USD, alongside practice accounts:

• Standard Account: Designed for commission-free trading, with floating spreads starting from 0.8 pips and no per-lot brokerage commissions.
• ECN Account: Geared towards experienced and high-frequency traders, offering tighter raw spreads from 0.5 pips combined with a per-lot commission ($2.50 to $4.00 per side depending on the specific page consulted).
• Demo Account: A risk-free virtual environment replicating live pricing for testing strategies and platform tools.

Account verification (KYC) is required under AML and customer due diligence policies, requiring traders to provide government-issued ID and proof of address prior to withdrawing funds. Islamic swap-free accounts are not confirmed on active public pages. 

Minimum Deposit

The minimum initial deposit required to activate both the Standard and ECN accounts is $10. Payment Asia requires a slightly higher transaction threshold of $25.

Leverage and Margin

N1CM provides maximum leverage up to 1:1000 on its accounts, allowing traders to control larger market positions with low initial capital. Specific leverage limits vary depending on the asset class traded, such as maximum forex leverage of 1:500 highlighted on market overview pages. Minimum trade size begins at 0.01 lots.

Deposit Options

N1CM supports an extensive array of digital assets and alternative payment providers without charging brokerage deposit fees:

• Cryptocurrencies: Bitcoin, Ethereum, Litecoin, USD Coin, Bitcoin Cash, BNB Chain, Dogecoin, Ripple, Dash, Tron, and Tether.
• E-Wallets and Payment Gateways: FasaPay, Payment Asia, Sticpay, and Perfect Money.
• Processing Times: Crypto and e-wallet deposits process instantly (subject to blockchain network confirmations), while bank transfers take approximately 1 to 2 hours.

Withdrawal Options

Withdrawals are processed back through the original payment channels utilized for depositing, including the full range of supported cryptocurrencies, e-wallets, and alternative payment rails. While N1CM does not levy internal withdrawal fees, processing timelines published by the broker state:

• E-wallets and Cryptocurrencies: Officially stated to process within 24 hours.
• Credit/Debit Cards and Bank Wires: Stated as requiring 3 to 5 business days.

Despite these published timeframes, N1CM's deposit and withdrawal processes have been associated with reported user difficulties.

Support Channels and Availability

Traders can access customer service through live chat, email ([email protected]), and phone (+269 472 9838). Support hours feature conflicting public statements: the homepage advertises 24/5 support, while the Contact Us page specifies operating hours from 06:00 to 15:00 GMT, Monday through Friday. Public pages indicate support in English, Spanish, French, Persian, Korean, Vietnamese, and Chinese Traditional.

Our Support Experience

Support response benchmarks indicate that live chat inquiries typically receive answers in approximately 10 minutes, telephone queries take 10 to 15 minutes, and email responses average between 2 and 12 hours. The customer support division is affected by operational inconsistencies and limited desk availability as well.

N1CM's analytical and educational resources are foundational. For market research, the broker provides market analysis articles, an integrated Economic Calendar, and automated charting pattern recognition via Autochartist. Educational content is limited to introductory downloadable eBooks and a basic financial trading glossary. The broker does not offer advanced video courses, interactive webinars, or formal trading academies.

N1CM for Beginners

N1CM offers an accessible $10 minimum deposit and free demo accounts, which may appeal to novices. However, the lack of comprehensive learning materials, absence of proprietary mobile interfaces, and offshore regulatory profile make it less suitable for traders seeking a guided, secure learning environment.

N1CM for Day Traders and Scalpers

Day traders and scalpers benefit from low floating spreads on the ECN account, leverage options reaching up to 1:1000, 1-click execution, and permission to utilize scalping and hedging techniques. However, potential withdrawal friction represents a risk factor for active intraday traders needing regular capital rotation.

N1CM for Algorithmic Traders

Algorithmic traders can execute Expert Advisors on both MT4 and MT5 without restrictions on trading frequency. Conversely, N1CM does not offer dedicated proprietary API trading connections or sponsored virtual private servers (VPS).

N1CM for Experienced Traders

Experienced market participants can capitalize on flexible leverage and raw spread accounts via standard MetaTrader platforms. Nevertheless, experienced traders managing substantial balances must weigh the absence of Tier-1 regulatory protection and the lack of an investor compensation scheme against the platform's flexible trading terms.

Common Positive Feedback

Traders who leave positive reviews frequently praise N1CM for its competitive trading environment on MetaTrader. Many users point to low spreads on major currency pairs, high leverage reaching up to 1:1000, and full flexibility when executing automated Expert Advisors as key advantages. Positive comments also frequently reference the convenience of cryptocurrency deposits and smooth experiences with initial small-balance withdrawals.

Common Complaints

The most pervasive negative feedback centers on severe withdrawal delays. A substantial volume of traders report waiting months—and in some cases exceeding a year—to receive requested withdrawals or return of initial capital. Users frequently cite recurring messages from customer support stating transactions are 'under review' without definite resolution dates. Additional complaints mention aggressive contact by account managers, unexpected account lockouts, and difficulties resolving funding disputes.

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