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T1markets Review: Is the broker safe and reputable? | Test

In this article we will introduce the CFD broker T1markets which was launched in August 2020 and examine whether it is a trustworthy and secure alternative to established brokers such as eToro or Plus500.

About T1markets

T1markets is a CFD and Forex broker based and regulated in Cyprus, where “T1markets” is the trading name of General Capital Brokers Ltd (GCB) with registration number HE345774. The platform offers over 160 different trading instruments, with T1Markets offering an above average range of products, particularly in the area of CFDs on cryptocurrencies.

However, there are also a number of international markets that can be traded, such as index CFDs, stock CFDs, foreign exchange CFDs, commodity CFDs and precious metal CFDs. Specifically, CFDs are broken down by asset class as follows:

  • 45 Forex/currency pairs
  • 45 Shares
  • 30 cryptocurrencies
  • 20 Raw materials
  • 20 Indices
  • 3 Metals

The available leverage effects correspond to the legal requirements of CySEC, the Cypriot regulatory authority, and are as follows:

  • 1:500 for Forex (FX)
  • 1:125 for indices
  • 1:125 for raw materials
  • 1:10 for securities and shares
  • 2:1 on cryptocurrency.

Most important info

✅ Website address: https://www.t1markets.com/**
✅ CFDs: Crypto currencies as well as commodities, Forex, stocks, indices, metals
✅ Leverage: up to 500x on Forex, 2x on cryptocurrencies
✅ Minimum deposit: 250 EUR
✅ demo account: Yes, free of charge
✅ Deposit and withdrawal methods: Credit cards (Visa, Mastercarda, Maestro), Skrill, Netller, SafeCharge, MIR Limited, Wirecard, Decta, Payvision, OrangePay, trustly, PaySafe

**Risk Warning: CFD’s are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Is T1markets trustworthy and secure?

As mentioned earlier, T1Markets is an authorized broker regulated by the Cyprus Securities and Exchange Commission, also known as CySEC. As Cyprus is part of the EU, the broker is also subject to the strict legal requirements of the European Union. Accordingly, there are many guidelines that the broker must follow. In addition, customer funds must be kept separate from business accounts.

Even if T1Makrets goes bankrupt, investors still have access to their funds. In this regard, it should also be noted that T1markets is part of the Investor Compensation Fund, which means that retail investors have a guarantee of up to €20,000 in the event of bankruptcy. All in all, the still young broker can therefore be classified as serious due to the regulation by the Cypriot Financial Supervisory Authority.

As for security, T1Markets uses strict firewall rules and Secure Sockets Layer (SSL) software to protect all data in transit. Transactions are transmitted by PCI Level 1 compliance services to securely store and manage all forms.

Account Types at T1markets

There are three different types of accounts at T1Markets: Silver, Gold and Platinum. Each type offers tiered terms and access to services. The type of account depends on the amount deposited and the user’s trading behaviour After successful registration, a customer advisor calls the new user to advise him/her on how to set up the account type. The customer advisor then decides which category the new account falls into. It is important to note, however, that the demo account is free of charge and can be used without restriction. The spreads and swaps depend on the status of the account.

Silver

  • Deposit commission: 0%
  • Spreads from: 0.07
  • Leverage up to (retail) 1:30
  • Leverage up to (Professional) 1:200
  • Available base currencies: EUR/USD, GBP/USD USD/JPY, AUD/USD, USD/CHF, USD/CAD , NZD/USD, EUR/GBP and more

Gold

  • Deposit commission: 0%
  • Spreads from: 0.05
  • Leverage up to (retail) 1:30
  • Leverage up to (Professional) 1:400
  • Available base currencies: EUR/USD, GBP/USD USD/JPY, AUD/USD, USD/CHF, USD/CAD , NZD/USD, EUR/GBP and more

Platinum

  • Deposit commission: 0%
  • Spreads from: 0.03
  • Leverage up to (retail) 1:30
  • Leverage up to (Professional) 1:500
  • Available base currencies: EUR/USD, GBP/USD USD/JPY, AUD/USD, USD/CHF, USD/CAD , NZD/USD, EUR/GBP and more

Platforms for trading on T1markets

In the world of Forex trading, trading platforms are very important. They are something that gives the user access to the trading market. At T1markets, there are two types of trading platforms that are provided, web trading and mobile-based trading. Both are driven by the MT4 system software.

Webtrader

For CFD trading, T1 Markets offers the MT4 WebTrader. This is a popular platform that can be used not only for executing trades, but also for analyzing financial markets and automated trading. Unlike other trading platforms, there is no need to download and install it, users only need to use their browser and you can get started.

Mobile app

The mobile app from T1markets is available for iOS and Android devices and is designed to make trading quick and easy. The app gives you full access to the same features you have on the web platform. As mobile trading via smartphone becomes more and more popular, T1markets is following the current trend. For all those who are constantly on the move, the mobile app is good news. By simply downloading the trading platform application to your Android or iOS device, you can access T1markets’ extensive Forex market.

Available CFDs on cryptocurrencies on T1markets

On T1markets you can choose from 20 different cryptocurrencies. Among the available cryptocurrencies are the most popular and most known cryptocurrencies, you should find a suitable investment for you. You have the choice:

  • Bitcoin vs. US Dollar, Euro, Great Britian Pound (Bitfinex)
  • Ethereum vs. US Dollar, Euro, Great Britian Pound
  • Litecoin vs. US Dollar, Euro, Great Britian Pound (Bitfinex)
  • DASH vs. US Dollar, Euro, Great Britian Pound(Bitfinex)
  • Ripple vs. US Dollar, Euro, Great Britian Pound (Bitfinex)
  • Ethereum Classic vs. US Dollar, Euro, Great Britian Pound (Bitfinex)
  • Bitcoin Gold vs. US Dollar (Bitfinex)
  • Stellar Vs. US Dollar (Bittrex)
  • Cardano Vs. US Dollar (Bittrex)
  • Bitcoin Cash ABC vs. US Dollar (Bitfinex)
  • Bitcoin Cash SV vs. US Dollar (Bitfinex)
  • IOTA Vs. US Dollar (Bitfinex)
  • Lisk Vs. US Dollar (Bittrex)
  • NEO Vs. US Dollar (Bitfinex)
  • QTUM Vs. US Dollar (Bitfinex)
  • NEM Vs. US Dollar (Bittrex)
  • Zcash vs. US Dollar (Bitfinex)
  • Forget Vs. US dollars (Bittrex)
  • Siacoin Vs. US Dollar (Poloniex)
  • Monero vs. US Dollar (Bitfinex)

Trade crypto CFDs on T1markets

Fees

As a general rule, T1markets only charges a spread.b Deposits are credited immediately and free of charge. The minimum deposit is 250 Euros. Withdrawals can take up to 5 days, although fees may apply under certain circumstances.

In addition, T1markets reserves the right to charge a withdrawal fee of EUR 50 (or equivalent amount according to the denominated currency on the client’s trading account) if there is no significant (only one position placed on the trading account) or no trading activity on the client’s trading account prior to submitting the withdrawal request. If the client wishes to withdraw less than 100 €, about which the client will be informed in advance.

There is also a “dormant fee”. This is a monthly fee charged to a trading account that has been inactive (trading/deposits/withdrawals) for a period of 60 calendar days and has a balance on the account:

  • Over 61 days: Inactivity fee of 160 EUR
  • Over 91 days: Inactivity fee of 120 EUR
  • More than 181 days: Inactivity fee of 200 EUR
  • More than 271 days: Inactivity fee of 500 EUR

Payment methods

T1markets offers its customers several simple and secure payment methods. For example, the platform allows its customers to pay via various banking options:

  • Visa / Mastercard
  • Neteller
  • Skrill
  • Wirecard
  • DECTA
  • Orangepay
  • Trustly
  • VPay

Open an account

Due to the strict legal requirements of the European Union, every new client must undergo compliance checks to ensure that they understand the risks of trading and are admitted to trading. When you open an account, you will be asked to provide proof of your personal details.

Usually a scanned colour copy of your ID or driving licence and a utility bill or bank statement from the last three months with your address is sufficient proof. You will also need to answer a few basic compliance questions and confirm how much trading experience you have. However, this only applies to the real money account, so you can test the platform using the demo account without verification.

Conclusion

The broker is obviously to be recommended. With the help of the regulatory framework of the CySEC, the broker is available in many European countries and can be used by everyone in the region. Nevertheless our impressions are mixed. The modern infrastructure and the wide range of crypto-currencies are a big plus, while the account levels and fees for inactivity can quickly become major cost factors. Otherwise, the customer support team is available in many different languages to provide maximum assistance to customers.

**Risk Warning: CFD’s are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

About Author

Jake Simmons

Jake Simmons has been a crypto enthusiast since 2016, and since hearing about Bitcoin and blockchain technology, he's been involved with the subject every day. Beyond cryptocurrencies, Jake studied computer science and worked for 2 years for a startup in the blockchain sector. At CNF he is responsible for technical issues. His goal is to make the world aware of cryptocurrencies in a simple and understandable way.

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