The trading name for the GCB (General Capital Brokers Ltd), T1Markets is a completely regulated and authorized broker, regulated by the CySEC(Cyprus Securities and Exchange Commission).
Since there are regulatory constraints on the broker, it offers segregated trading accounts and also, negative balance protection. The leverage provided by the broker is kept at 30:1 for the retail clients and 1:500 for the professional clients.
The broker offers three different trading accounts for the traders to use. These are The Silver account, the Platinum account, and the Gold account. All three accounts come in with the benefits such as the provided functionality to access to swap accounts, videos, webinars, etc. The broker also provides a virtual private server or a VPS in some cases.
T1Markets has a strict no-no policy for commission-based trades and the spreads are kept at a bare minimum. There is also an option for the traders to use a demo and an Islamic swap-free account for the users who want to trade in accordance with the sharia laws of trading.
There are around 300+ CFD tradable assets that the traders can trade via the broker. These assets include cryptocurrencies, metals, forex, indices, etc. to name a few.
The traders can trade on the MT4 trading platform or, they can trade on the web trader platform and even the mobile trading apps.
The customer support is active 5 days a week from 7 AM to 5 PM GMT.
How to open an account with T1Markets?
The process to open an account with the broker is simple. All the users have to do, is:
- Log on to the official website of the broker www.T1Markets.com.
- Click on “about T1Markets”
- Click on the preferred trading account the customers want to exercise.
When the users click on About T1Markets, this is how the next screen looks:
There is absolutely zero commission on the deposits and the spreads go as low as 0.03 The leverage, as mentioned above, is also kept low and different for each account.
To trade forex, almost all the currency pairs are available for the traders to trade. Right from where the traders can see what account type the broke offers, they can click on the “open account”. That button is available beneath each and every account type specification.
After the traders have selected their account types, they have to provide the broker with some detailed information with which the firm can cross-check the authenticity of the trader. The service provider asks for the details like name, Email address, and a phone number with which they can always access the authentic data of the person involved.
The trader can request the broker if he or she wants to use the “professional” variant of every account. The trader can apply to become a professional client via clicking on the “Professional Account” button, under the “About T1Markets” section.
Professional account has a higher advantage over retail accounts in terms of increased leverage and some other extra benefits.
How to use charts with T1Markets?
The use of charts depends on the platform until the broker provides an indigenously developed trading platform. Even if that is the case then too, the use of charts remains almost the same. The fundamentals of using them are always the same. The patterns, applications, and implications will always remain the same.
Charts are of major use, or the majority of tools that the intraday or technical traders use, are made up of either charts or some of their implied use.
They can tell the trade how to look at the price movements, how to decide when to buy when to sell, and a lot more things other than these.
Charts are like guns, they just need the perfect bullets to hit the target.
When charts are combined with the correct indicators, they reveal the best of opportunities to the traders.
It is not necessary that the trader uses a lot of charts or a lot of indicators but, it is important how to use just one or maybe two of those. T1Markets offers MetaTrader4 as a preferred trading platform to the traders. Now, this platform is the alpha, the omega, the beta, gamma, the Optimus prime of all the trading platforms when it comes to forex trading.
The MetaTrader lineage is so perfect that their models are taken as reference structures for a lot of firms to design their own platforms.
Let us have a look at how the different charts look when the traders use MT4 as their trading platform. This is a bar chart for the currency pair GBP USD. AS a demo user, one trade is made and that can be seen at the bottom of the screen. With this chart, not much can be calculated about the right position to either buy or sell.
This is just a mere representation of the path the currency pair is following. If there were certain indications about different things, applications could have been better.
The platform has already fixed this Glitch, by providing an option to change the existing chart in a candlestick chart.
Let us have a look at what this is:
So this is a candlestick chart. This chart is accompanied by certain indicators in the chart itself. The green lines are the volumes with constantly changing RSI at every position The blue marked price is the constantly changing ask price.
Where it says “buy o.o1 ”, that is a specific trade level captured while capturing the screen. This also keeps changing constantly. In the next screen, a placed stop-loss order can be seen.
By now it must be clear as to how you use charts and how you use different indicators associated with them as well. Charts Will navigate you through the trades just like Jack’s Compass. You just need to know what you REALLY want. Know that, and let the compass run its magic.
How to use leverage in funds with T1Markets?
Leverage is something that the broker provides to the users but it is their will if they want to use it or not. That is a very important thing to understand. It’s your choice if you want to exercise the leverage or not. It’s basically the money that you don’t really own. The broker will provide that money to you, by keeping some initial capital.
This capital is comparatively minuscule to the money that is offered in turn. For example, T1Markets offers 1:30 leverage. What this means is that with one dollar, the trader can access the market that is worth $30. This carries forward exponentially. If the trader has, say, $100 and still uses leverage, then the broker will allow him or her to control the market worth $3000.
Leverage offered by this broker majorly varies on the account type, asset, and currency type. Let us have a look at what that is, and how much leverage is offered. It can be seen that the least leverage is given to the cryptocurrency section and the Forex section is offered the most of it. This is also plausible because cryptocurrencies are very much volatile and a cocktail of leverage and CFD can create havoc for the trader.
The traders can always ask for leverage to be exercised once they are associated with the broker. The whole process cannot be disclosed by our firm as it violates the rules of the industry. However, from the experiences we have had, it is not very hard for the traders to use leverage.
How to open A demo account with T1Markets?
The traders can click on the “get demo account” button to get a demo account with the broker. That too registers them with the MT4 platform s a demo user. The demo account is provided to the traders in a week’s time after they have successfully registered with the broker and they can enjoy the service for almost a month.
You can read that this is a demo account preview of the MT4 platform on the top-right section of the screen.
The trading demo is good but it should be done carefully. Most of the platforms offer 100,000 units of bot currency. The traders can always use that money but also, careful use of the money is also equally important. The traders should not develop a habit of overusing that money carelessly. If that habit develops, then it is very hard for the traders to get rid of trading heavily. When the traders actually sit and trade, they don’t have much money. In fact, 100,000 units of currency are something that they aim at making after they have traded enough. Never get worked up and trade on something that you cannot handle when you get inside the real deal.
How to deposit and withdraw funds from T1Markets?
Traders have various options to deposit and withdraw funds from the broker. There are options like Neteller, Skrill, bank and wire transfers, and also, credit and debit cards.
This is a screen that shows how the traders can deposit with their credit cards.
Apart from this, the traders can also deposit their funds and the deposition is expected from a y extra fee. Customers can also deposit funds via klarna.
How to reach the T1Markets customer support?
The customer support can be reached via a live chat feature which is present at the screen. Apart from that, the traders can reach the customer support via Emails, and telephone as well. These are the credentials from where the traders can reach customer support. The customer support team works 5 days a week. From 7 AM to 5 PM GMT.
Address: WorldTrade Center, 1st Floor 28th October Street 359 3107 Neapoli, Limassol, Cyprus.
Email: [email protected]
Phone: +80040408888
Bottom Line:
It is easy to trade CFDs with this broker. The broker offers special to its clients trading in forex and trading in CFDs. However, it should be kept in mind that CFDs are complex trading instruments. The traders are at a high risk of losing money rapidly due to the wrong use of leverage and CFDs. Be careful when you trade on CFDs and always remember, emotions never put food on the table, math did.
