T1Markets experiences - The crypto exchange review
Quality
speed
cost
Anyone interested in trading in foreign exchange should obtain information in advance about the company or platform through which they will subsequently trade. There are now a large number of providers on the market. One of them is T1Markets, which we would like to take a closer look at here.
T1Markets in the test
Where are client funds kept? How are they protected? And what do the test and experience reports on the internet look like?
In the following article, we examine whether the provider is recommendable or whether caution is advisable.
Go directly to the test winner eToro
Now directly to the test winner among the crypto exchanges.
Is T1Markets reputable or is it a T1Markets scam?
T1Markets is a Forex broker through which it is possible to trade foreign exchange. The provider is regulated by the Cyprus Securities and Exchange Commission - CySEC for short. This is the supervisory and regulatory authority based in Cyprus, which follows the guidelines of MiFID. These are guidelines that apply to the entire financial sector within the European Union.
Among other things, CySEC requires a minimum capital of 700,000 euros for Forex brokers and stipulates that the company capital must be kept separate from customer deposits. In this way, the supervisory authority ensures that the broker has sufficient funds to guarantee customer security.
Due to the fact that T1Markets is a regulated Forex broker, customers do not have to worry about possible fraud or dubious dealings. From a security point of view, T1Markets can therefore very well be classified as recommendable.
The T1Markets offer
The offer is diverse. T1Markets offers trading in forex, commodities, cryptocurrencies, indices, shares and metals.
Asset | Explanation |
|---|---|
Forex | Forex trading may be one of the largest markets in the world. T1Markets presents over 45 currency pairs. So there are the classic major as well as minor currencies, but also exotic currency pairs are offered here. |
Commodities | Commodity trading is one of the oldest trading areas on our planet. It should be noted that there are ultimately two main types of commodities - hard and soft commodities. Hard commodities include copper, oil, gold and gas. Soft commodities, on the other hand, come from agriculture - these include cocoa, soya as well as coffee. The maximum leverage for commodities is 1 to 125. |
Shares | Shares in large companies are also made available. There are companies such as Sony, Apple and Microsoft. At the moment, there are over 45 public companies on T1Markets. The maximum leverage for share trading is 1 to 10. |
Cryptocurrencies | In recent years, digital currencies have been able to gain a completely new status. Today, Bitcoin and Co. are already so popular that there is hardly a Forex broker that can ignore cryptocurrencies. T1Markets offers CFD trading with 30 different cryptocurrencies. Ideal for all those traders who want to create enormously high amounts of money within a very short time, but are aware of the risk that it can also go in the other direction. |
Indices | So-called index trading may be an investment in the trading world. Because ultimately one speculates here with a group of the most diverse shares, which ultimately form the so-called index. More than 20 separate indices are offered. |
Metals | Precious metals are among the safest options. Gold in particular, which is often referred to as a stable crisis currency, may have been the safe haven par excellence for years, if not decades or centuries. For this reason, many investors and traders decide to invest part of their assets in the precious metal. 20 metal CFDs are offered. |
T1Markets trading platforms
When trading foreign exchange, the first thing to consider is the trading platform available. Ultimately, it is the trading platform that provides access to the trading market. T1Markets offers two trading platforms - web-based trading on the one hand and mobile-based trading on the other. In both cases, the MT4 system software is used.
Web trading
Here, the trader can work with MT4 WebTrader. This is a quite popular platform, through which one can not only execute trades, but also make first experiences with automated trading or even an analysis of the financial markets is possible.
It is not necessary to download the trading platform or install it on the computer; only a browser is needed to start trading. This also allows trading on other computers.
T1Markets App
There is a dedicated app for both Android and iOS devices so you can trade forex on the go. With the app, you can access the same functions that are provided via the web platform.
Recommended alternative to T1Markets: eToro
If you want to buy Bitcoin quickly without any problems, we recommend the exchange eToro. In addition to a clear user interface, government regulation and copy trading, the big advantage of the platform is that both real Bitcoins and Bitcoin CFDs are available for trading. In addition, a Bitcoin purchase at eToro only incurs a fee of just under 1.8% on the total payment transaction. (Deposit, purchase, sale and withdrawal added together).
T1Markets account models
T1Markets offers its clients three types of accounts: silver, gold and platinum. When choosing an account, the different conditions as well as access to services must be taken into account. On the one hand, the amount of the deposit is decisive, on the other hand, of course, the trading behaviour plays an essential role.
The account manager ultimately makes the decision as to which account suits the new client. The swaps and spreads depend on the account status. It should be noted that T1Markets also provides a free demo account that can be used without restrictions.
Silver account
The silver account is the so-called beginner account. There are no commissions or fees for payments here. The customer enjoys low spreads - these are 0.07. The leverage is a maximum of 1 to 200, whereby it must be said at this point that as a beginner it is better to refrain from such high leverage. Because, of course, high profits are possible, but an extraordinarily high loss can be possible if the market assessment is wrong.
There is no deposit commission
The spreads are at 0.07
For retail trading there is a leverage of up to 1 to 30 available
For professional trading there is leverage up to 1 to 200
The following base currencies are available: EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, NZD/USD, EUR/GBP, USD/CAD, and many more.
Gold account
First and foremost, you will notice that there are many similarities between the Silver and Gold accounts. The T1Markets Gold account is ideal if you are a Forex trader looking for high leverage with low spreads. As a rule, the spreads are 0.05. The leverage amounts to a maximum of 1 in 400. In addition, some tools can be used for extensive analyses.
There is no deposit commission
The spreads are at 0.05
For retail trading, a leverage of up to 1 to 30 is available
For professional trading there is leverage up to 1 to 400
The following base currencies are available: GBP/USD, EUR/USD, AUD/USD, USD/JPY, USD/CHF, EUR/GBP, NZD/USD, USD/CAD and many more.
Platinum Account
If you are an experienced Forex trader, the Platinum account is ideal. Here you have countless tools for extensive analyses, an extremely high leverage of a maximum of 1 to 500 as well as low spreads.
There is no deposit commission
The spreads are at 0.03
For retail trading, leverage is available up to 1 in 30
For professional trading there is leverage up to 1 in 500
The following base currencies are available: EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, NZD/USD, EUR/GBP, USD/CAD and many more.
T1Markets test: The fees
As a rule, only the spread is charged by T1Markets. There are no fees to pay for deposits - that is, the money that is deposited goes into the T1Markets account without deduction. The minimum deposit of 250 euros should be noted.
Those who want to transfer money from T1Markets to their reference account must be patient - this process can take up to five working days. Fees may apply during the withdrawal process. A withdrawal fee of €50 will be charged by T1Markets if no trading activity has been recorded prior to the submission of the withdrawal.
Furthermore, there is a so-called "dormant fee", which could also be called an inactivity fee. Those who are inactive for more than 60 days and have a balance on their account need to be particularly vigilant:
If one is inactive for more than 61 days, a monthly fee of 160 euros will be charged. If the user is inactive for more than 91 days, a fee of 120 euros/month is imposed. If the user is inactive for more than 181 days, the fee increases to 200 euros/month. If the user is inactive for more than 271 days, the monthly fee is 500 euros.
The payment methods
T1Markets Experience ReportWhoever wants to fund his T1Markets account will surely find his personal favourite payment method. T1Markets offers different payment methods:
- Credit card (MasterCard or VISA)
- Skrill
- Neteller
- DECTA
- Trustly
- VPay
- Orangepay
The customer support
The T1Markets homepage is extremely user-friendly and offers a wealth of information. Beginners in particular will have no trouble finding their way around. In addition, T1Markets scores with a very competent and friendly customer support team.
Contact can be established either via live chat, telephone or email. The live chat is of course the ideal way to get a quick answer to your question.
The conclusion to our T1Markets experience
The Forex broker T1Markets convinces primarily with a wide range of offers, transparency, the fact that the regulatory authority CySEC is in the background and a fair fee model has been created.
All those who are interested in CFD trading should therefore certainly take a look at T1Markets. Only the design of the inactivity fee can be criticised at this point.
Recommended alternative to T1Markets: eToro
If you want to buy Bitcoin quickly without any problems, we recommend the exchange eToro. In addition to a clear user interface, government regulation and copy trading, the big advantage of the platform is that both real Bitcoins and Bitcoin CFDs are available for trading. In addition, a Bitcoin purchase at eToro only incurs a fee of just under 1.8% on the total payment transaction. (Deposit, purchase, sale and withdrawal added together).
