Review T1Markets
https://www.t1markets.com/ Headquarters in Cyprus Open Demo Account Open Live Account BEGIN item ContentsPros and ConsProductsBankingEducationConclusion
Quick Look
It is almost certain you have heard about cryptocurrencies and how they are changing the world of finance and investment. These digital assets can be used to buy and sell, to trade, and to do anything else fiat currencies are used for, but they are not controlled by any government or organization. It is an incredible shift, but it also has its downsides for traders. First, cryptocurrencies can be confusing to understand and to use. Next, there is no regulation surrounding these assets for the most part, so you must take a “buyer beware” approach in many cases. Finally, there is always the risk of hackers stealing coins when they are held at cryptocurrency exchanges.
The good news is there is a way to trade cryptocurrencies without dealing with the confusing nature of the asset or exposing oneself to any of the dangers posed by cryptocurrency ownership and trade. That way is through cryptocurrency CFDs and T1Markets is ready, willing, and able to take care of your cryptocurrency trading needs. Trading CFDs is far less confusing and more secure than trading actual cryptocurrencies.
T1Markets is a brand name of General Capital Brokers Ltd. and has been regulated by the Cyprus Securities and Exchange Commission under license number 333/17. That alone makes trading here safer than with most cryptocurrency exchanges.
T1Markets is relatively new, just coming on the broker scene in 2020. That has been long enough for them to build up a solid client base and a good reputation though. Clients at T1Markets will find over 350 assets available to trade, including more than 30 cryptocurrency CFDs. Clients can trade these in a more secure environment than typical exchanges, and with three tiers of accounts, plus a professional level account, there is a perfect match for every level of trader.
MT4 mobile app and web trader are offered, but we typically prefer the desktop app for its increased functionality and analysis power. Still, an MT4 web trader is better than most charting from cryptocurrency exchanges. And you can try things out with the offered demo account.
Clients can contact customer support via online form, live chat, email, or telephone on Mondays through Fridays from 7:00 to 17:00 GMT. There is also an option to contact management directly if you have an issue that the support team has been unable to resolve to your satisfaction.
T1Markets Pros and Cons
Pros
Regulated broker for cryptocurrency tradingMultiple account types and fiat funding options (no needed)Extensive educational material
Cons
No MetaTrader 4 desktop versionHigh overnight swap fees (no needed)Limited research reports and asset analysis.
Cryptocurrency Products
It is true that you can go to a cryptocurrency exchange and have access to hundreds of different cryptocurrencies. Of course, most of those will be tiny, thinly traded tokens. Ask yourself if you really need the ability to trade on these small, illiquid tokens at an exchange that might be attacked by hackers at any time. The answer is probably no, and anyway there’s a better opportunity for trading cryptocurrencies.
T1Markets has one of the largest lists of available cryptocurrencies that we have seen at any CFD broker. You’ll be able to trade all the top cryptocurrencies and that includes Bitcoin and Ethereum as well as Ripple and Litecoin, and some more niche products like IOTA and Lisk.
Overall, there are 19 different cryptocurrencies on offer, and 31 trading pairs to choose from. Plus you can trade both regular sized lots and microlots, which is something most brokers aren’t offering on cryptocurrencies. And since there is no centralized exchange for cryptocurrencies you can trade them 7/24/365. Plus you’ll get great floating spreads at T1Markets.
Banking
Another benefit to trading CFDs on cryptocurrencies at a broker like T1Markets rather than trading on an exchange is the access to banking facilities. At an exchange you will be lucky if you can purchase cryptocurrencies with a credit or debit card. In many cases the only way to trade is to deposit cryptocurrency you already own. Not so at T1Markets, where a full range of deposit and withdrawal methods are available. Clients are able to deposit and withdraw through credit/debit cards, ACH bank transfer, and online wallets like Neteller and Skrill.
Education
Another reason to go with a broker over an exchange when trading cryptocurrencies is the educational opportunities at brokers, and T1Markets also excels in this facet. There is everything from webinars and video on demand to basic courses and tutorials. And of course, there are articles and eBooks as well. Those looking for some extra help in choosing trading opportunities can also subscribe to an offered signal service. Compare that with most cryptocurrency exchanges where the educational materials on offer are non-existent.
In Conclusion
While T1Markets does not have the longest track record in the business, they do have regulation and a solid client base. And they have a solid list of cryptocurrencies to trade if that is your thing. Do not risk your money at unregulated and unsecure cryptocurrency exchanges. Instead try out T1Markets. You will get good service, educational materials, MetaTrader 4 as the platform (but not as a desktop app), and the ability to easily trade cryptocurrencies without worrying about the dangers of hackers. We know the broker is new, but we think they are worth trying.
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