1Broker is an offshore broker offering trading in bitcoin, fiat forex pairs and CFDs on indices, stocks and commodities. It was established in 2012 and is based on the Marshall islands. The difference is that it accepts deposits in Bitcoin only and calculates its fees and other costs in the cryptocurrency.
The company does not require a minimum deposit and the margin required to start trading is 0.01 BTC.
Even though the bitcoin exclusivity is still somewhat unusual and rare, there are other brokers like Whaleclub, who also accept deposits in Bitcoin only. This would hardly become a widespread practice, but having in mind the increasing popularity of the cryptocurrencies, would most likely become increasingly frequent.
The company. Security of funds.
Company Country Regulation
1pool Ltd. Marshall Islands None
Like we already noted, 1Broker is somewhat unusual in its accepting Bitcoin only. Being based in the offshore zone the Marshall islands and being unregulated, brings a significant risk for its clients. But, then again, cryptocurrencies in general are still more popular among people with curious minds and willing to take risks and not your average retail trader.
1Broker does not offer any of the “ordinary” forex trading platforms like MetaTrader 4 or cTrader. Instead it has its own trading platform with a rather simplified interface and not so many features and options. There is, however, the social feature, which allows traders follow other traders, share their trading ideas and win a reward if someone follows their strategy.
Methods of payment
1Broker accepts payments in Bitcoin only, through the blockchain system and recommends a two-step authentication method. According to the company, since its launch in 2012, there has been no security breach and it keeps the client funds in hardware storage and in paper wallets.
1Broker is a Bitcoin-focused broker that offers trading in the regular assets offered by the majority of “ordinary” brokers. But since the cryptocurrencies and the blockchain technology are in a somewhat “gray” financial area and are pretty much completely unregulated, we must note that trading in them with an unregulated offshore broker is rather risky.
1Broker Review Conclusion
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