Why not try XM
XM Broker Review
Why not try XM
XM Broker Review
|Minimum deposit:||$200 USD or equivalent|
|Withdrawal fee amount:|
|Inactivity fee charged (Y/N):||N|
|Number of instruments:|
|Time to open account:|
|Demo account provided (Y/N):||Y|
|Countries of regulation:|
T1Markets is a relative newcomer to the broking sector but has an approach which will make it very popular.
The service is based on providing a top-grade platform, thousands of tradable markets and a new take on research which includes providing clients with lots of exclusive trading ideas.
On top of that has the strength and security that comes from being regulated by a tier-1 regulator, CySEC (Cyprus Securities and Exchange Commission)
T1Markets is the trading name of General Capital Brokers Ltd (GCB) with Registration Number HE345774 regulated and authorised by the Cyprus Securities and Exchange Commission under license number 333/17.
The fee structure and T&Cs section at T1Markets is exceptionally easy to understand.
The three accounts, Silver, Gold and Platinum have their terms laid out side by side making a comparison very easy to do. The headline rates on spreads, which start at 0.03pips also ensures a positive result when compared to some other brokers.
The terms on the Pro account are even more eye-catching.
In line its peer group the broker T1Markets uses variable spreads. This allows the broker to offer its clients tighter spreads when market conditions allow.
It’s also the case that all charges are incorporated into the headline spread. The fact that there are no additional commissions or charges to factor in making break-even analysis a much simpler task.
T1Markets provide their clients with the desk-top-downloadable and the browser-based access-from-anywhere version of MT4, the world’s most popular retail trading platform. Whichever you choose, just log in and gain first-class access to the markets.
There Web-Trader version of MetaTrader’s flagship platform is packed with all the functionality and gadgets of the desktop version. The MT4 default settings include more than 30 technical indicators including Fibonacci retracements and moving averages. All designed to give you the optimal analysis of trading conditions.
The MT4 platform has been dominant for many years. Its popularity based off the combination of razor-sharp graphics and trading tools which are tried and tested. On top of that are a list of instruments tailored to finding trade entry and exit points.
The execution interface is highly adaptable and the epitome of reliable. With millions of users having tested the platform for more than a decade it has been tested to destruction and still does the job for the majority of traders in the market. Other features include:
Despite being developed some years ago MT4 still sets the benchmark for a lot of trading dashboard functionality. The ability to switch monitors and adjust indicators is seamless. If you are going to get to know and trade off one platform then the web-based MT4 would probably be the one to choose.
One strong point relating to MT4 is the ability of traders to run their own automated models. Those with their own algorithmic programs, or indeed those of others they are ‘copying’ can use MT4 to take a more ‘hands off’ approach to trading.
The T1Markets mobile trading experience is delivered via the MetaTrader App. This is can be downloaded for no charge and is compatible with Android and iOS devices.
Like the big-screen platform, the mobile version offers a smooth trading experience laid over incredibly powerful trading software.
Most of the 30 standard issue indicators and charting tools are included. There are also 24 of the most popular analytical objects.
Channels, Gann, Fibonacci and Elliott Waves can all be applied and its possible to open up to 10 windows at any one time.
As the web-trader version of the full MT4 platform is available through any browser it is also possible to log on via any internet browser, on any device.
There is plenty of research and leaning material for beginner and more advanced level traders. One positive note is that it is heavily weighted towards trading and trade ideas.
There is an abundance of “How things work …” style material available in the video-based VOD section.
The list of training aids extends to ebooks, tutorials, webinars an economic calendar and a section specifically covering earnings season.
Although all of the material mentioned so far is a great support package for traders the jewel in the crown is the Signal Centre software package found under the ‘Trading Signals’ tab on the Learning homepage.
This monitor scours the markets for price data and uses that information to project the direction of the next move. It is free to use and covers markets from NZDUSD to the HS50 Hand Seng equity index.
It is a great tool that will be welcomed by all grade of trader and justifies the broker’s claim that their research is “ground-breaking”.
Our testing format found the customer service provided by T1Markets to be satisfactory. Staff were professional and knowledgeable but response times, particularly using Live Chat were longer than industry average.
As mentioned previously the firm is a relatively new operation and some teething problems can be expected and it can only be imagined this feature of the service will benefit from an upgrade. The support team are contactable from 07.00 – 17.00 GMT which also falls short of the 24/5 which has become something of a market norm.
Saying that some brokers don’t offer telephone support so T1Markets gain points there and the email contact option is a nice fall-back for more detailed and less time-sensitive queries.
Support and website language options include: English, Spanish, Portuguese, Italian, German and Swedish.
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