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N1CapitalMarkets Review: N1cm.com Crude Forex Scam

N1CapitalMarkets Review: N1cm.com Crude Forex Scam

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N1CapitalMarkets (N1cm.com) is a cruel CFDs and Forex scam to hit the lucrative trading world. Number One Capital Markets is the full name of this broker who is promising heaven and delivering hell. Most members who signed up with this crooked broker are now crying foul. What’s happening with this broker? To find out more, we decided to carry out a thorough investigation. Read this full NICAPITALMARKETS review for more.

N1CapitalMarkets Review

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N1CapitalMarkets Review

After getting email complaints from members of this platform, we knew trouble was brewing. Looking at most comments, its clear N1CapitalMarkets is deliberately refusing members access to their accounts. Withdrawing with this broker is turning out to be a lost cause. Why do investors sign up with crooked brokers to begin with? Most investors don’t conduct a thorough check on online investment platforms.

To understand the extent which scammers go to, you need to know how much investors are losing. Remo Francucci invested over $9,000 with this broker hoping to earn some profits. He decided not to and asked to withdraw his funds.

About N1CapitalMarkets

Number One Capital Markets Limited is a cloned website of a real brokerage firm. These scam artists are stealing a credible financial firm based in the U.S. After asking around, there’s no link between these two entities. N1CapitalMarkets is based in Vanuatu which means we are dealing with an offshore broker.  Another shocking detail with this broker is how well they hide their real identities.

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Who are the founding members of this platform? According to their homepage N1CapitalMarkets claims to be founded by a dedicated veteran team of online finance professionals. Why can’t we get the actual names of people running this website? What are the names of these founding members? Why have they omitted their actual names? It seems we are dealing with a thoughtless online broker.

Is N1CapitalMarkets licensed or regulated?

Problem with this claim is VFSC only regulates banks and insurance companies. They don’t regulate brokers which is cause for alarm. N1CapitalMarkets is misleading members by claiming to be fully regulated. For a broker to be acceptable, they must be licensed by top international regulatory bodies. These include ASIC, COSNOB, CySEC, FCA, FSA, and NFA. If these bodies haven’t licensed any broker, stay away from them.

Why have they failed to post their licensing or registered number? A real broker will post details of their license and regulatory numbers for all to see. Make sure to stay away from brokers who hide such vital information. A real broker will ensure they post their credentials for all to see. By posting their details, they allow members to independently confirm with regulatory bodies. Lack of these vital documents is proof we are dealing with a crooked broker. Stay away and resist any calls to sign up with N1CM.

Disadvantages of N1CapitalMarkets

Account Types

N1CapitalMarkets is furnishing users with three different account types. These accounts are named Cent, Standard, and ECN Pro. What we found odd is the minimum required deposit to start trading. These accounts ask for $10 to start trading. N1CM is enticing users to sign up with their low depository requirements. Set industry minimum requirement is $250. These accounts have the same advantages which makes us question their intent. N1CapitalMarkets wants to sign up as many investors before shutting down this platform.

N1CapitalMarkets Account Types

Demo Account

These scam artists have gone a notch higher with their trickery. By having a rigged demo account, users are led to believe this is a profitable platform. These scam artists have ensured their demo account makes over 98% successful trades. Demo accounts use virtual money which is not real and thus, scam take advantage of this. Investors are led to believe this platform can make insane profit margins. Next step is to sign up with a real account and deposit real funds.

Deposit and withdrawals

Depositing funds with this broker is fast as it takes less than five minutes. Depository channels include ePayments, Fasa, VLoad, Neteller, Perfect Money, and Skrill. The problem is not depositing funds; most members are having withdrawal issues. It seems this broker is openly refusing members to withdraw their funds. These are brokers whose sole intent is to steal from anyone who signs up. Any investor who funds their account should be ready to lose their funds.

Trading Platform

N1CapitalMarkets is claiming to offer MT4 trading platform. To check how the platform works, we decided to download it. And this is where we found some alarming issues with their platform. Download took time to complete and setup stalled at around 31%. Another perturbing issue with their platform is lack of proper security features. We noticed their platform could be an easy target since it lacks SSL Encryption.

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Are funds safe with N1CapitalMarkets?

With a broker who fails to have adequate licensing credentials, funds are never safe. Which institution do they use to bank funds deposited by members? Is it possible users are depositing funds to owner’s bank account? These are some of the questions we need answers to. Its clear funds are not safe with Number One Capital Markets.

Another problem we detected is with segregation of accounts. As it turns out, N1CapitalMarkets is pooling funds in one account. Merging assets in one account is extremely risky as bankruptcy can occur at any time. These are some of the reasons why investing with this broker is a risky venture. Why should you put your investment at risk with a disgusting broker? Did you know N1CM does not insure funds as dictated by trading laws?

Is N1CapitalMarkets is a scam?

After checking all the data, we are sure N1CapitalMarkets is a scam. Lack of proper licensing and breaking of rules helps validate this claim. Mark all their emails as Spam and never click on any links sent by these online thugs.

Bottom Line

N1CapitalMarkets Forex Broker Review

Adding this broker to our scam blacklist will aid in protecting our readers from signing up. Exposing such scams enables investors to invest wisely with acceptable platforms.

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Wishing every trader a successful trading experience.

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