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N1CM Review
N1CM is a small CFD broker now based in Saint Lucia. It openly states it holds no license from any financial regulator, and Spain has issued a public warning against it.
Min Deposit
$10
Spreads From
0.5 pips on ECN plus $2.5 commission per side, 0.8 pips on Standard
Max Leverage
1:1000
Platforms
MetaTrader 5, N1CM WebTrader
Pros
- Covers forex, metals, indices, shares, and crypto CFDs in one MT5 account
- Live account minimum deposit is just $10 on Standard and ECN accounts
- Standard account carries no separate commission on top of the spread
- Free demo account comes loaded with a $10,000 practice balance
- Negative balance protection is stated as available on live accounts
Cons
- States plainly on its own site that no financial regulator licenses it today
- Dropped off Vanuatu's VFSC Financial Dealer list by 2023 with no explanation
- Spain's CNMV added N1CM to its public warning list of unauthorized firms
- Let an EU resident open a 1:1000 leverage account far above the EU 1:30 cap
- Advertised spreads from 0.0 pips do not match real account terms of 0.5 to 0.8 pips
- Changed its registered company and home jurisdiction more than once since 2017
N1CM started trading in 2017 under a Vanuatu VFSC registration. That registration dropped off VFSC's Financial Dealer list by mid 2023, with no explanation. By 2024 it cited a registration with Comoros' Mwali International Services Authority, not recognized as a real financial regulator. Its site now lists a fresh Saint Lucia company number from 2026.
N1CM offers forex, metals, commodities, indices, shares, and crypto CFDs through MetaTrader 5 only. A live account opens with $10, and leverage can reach 1:1000. Marketing pages advertise spreads from 0.0 pips, but real terms show 0.8 pips on Standard and 0.5 pips plus $2.5 commission per side on ECN.
N1CM's legal notice admits it is not regulated or licensed by Saint Lucia's authority. Compliance reviewers opened an EU resident account with 1:1000 leverage, far above the EU's 1:30 cap, and Spain's CNMV placed N1CM on its warning list. Traders here have no regulator or compensation scheme if something goes wrong.
Min. Deposit
USD 10
Max Leverage
1:1000
Spreads From
0.5 pips on ECN plus $2.5 commission per side, 0.8 pips on Standard
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
