1 Broker Review
Launched in 2012, 1Broker is an offshore broker based out of the Marshall Islands. The company supports a large number of markets including stock, index markets, commodities, forex markets and crypto markets that users can invest in, and this wide range of possibilities enables investors to fine-tune their investment strategies while trading.
The only peculiarity of the platform is that it accepts deposits in Bitcoin only and also calculates its fees and other costs in the crypto currency. The company does not require a minimum deposit and the margin needed to start trading on 1Broker is 0.01 BTC.
Features
Most importantly, the investment platform provides its investors with multiple markets to choose from, allowing them to diversify their portfolios. With such a variety to choose from, users have much more flexibility when it comes to making decisions.
Further, the integrated customizable leverage system of the platform allows users to adjust their risk factors on particular investments. This means that users who prefer taking conservative risks have the option to invest in stock platforms. On the other hand, investors that seek better gains and don’t mind higher risks can turn to the speculative world of forex markets.
Another important feature of 1Broker lies in the social nature of the platform. Users can discuss and share their trading strategies, compare shares of other users, and comment or leave feedback. 1Broker also allows users to build a user profile for a truly social experience.
Another plus point is that users can copy the investments of other investors. This is a good way for beginners to get a feel of the market and begin implement more advanced strategies. On the other hand, advanced traders can create innovative strategies and generate more rewards.
Ease of Use
The web interface of 1Broker is intuitive and is compatible with a wide range of devices. Further, instead of simply packing it with feature-rich elements, the platform has focused on a few necessary details, keeping the webpage minimalistic, clean, and speedy.
Opening an account with 1Broker is very simple and requires very few details, which are in line with all Bitcoin transactions. You only need to provide a username, a password and an e-mail, post which you will be allowed to trade anonymously. Further, after opening an account, crediting funds can be simply done by scanning the QR code from your Bitcoin wallet or sending the Bitcoins to a specified address. This allows funds to appear in a live trading account within around 20 minutes.
Security
Security is an essential element of 1Broker. The platform has implemented strict security measures to protect users bitcoins. There is no room for conflict of interest since access to funds is made available to only one party. Bitcoin in circulation is stored in paper and hardware wallets extra security..
The platform encrypts backups of data, bringing in better security and clarity.
Cons
There are some disadvantages to using 1Broker that primarily lie in the fact that the trading platform is not as sophisticated as many of the other more popular options. In a quite a limited market of crypto currency, 1Broker does not yet have such a strong track record as other more established brokers.
This broker is also unlicensed which could pose a problem for any trader who wants to be certain that they are choosing an operator that is reliable and trustworthy. Further, as mentioned earlier, 1Broker is somewhat unusual in its accepting Bitcoin only. Being based in an offshore zone and being unregulated brings in a significant amount risk for its clients.