1broker has revolutionized the way we trade Forex and contract for differences (CFD). It is the first of its kind to enable traders trade CFDs using Bitcoins only. This feature is most desirable in that funding and withdrawal has become super fast. The outrageous charges that come with credit card payments are also eliminated. Not to mention that your money has more value in bitcoins considering that bitcoin ($6,000/BTC) although volatile has its volatility in the upward direction.
1broker was launched in 2012 by 1pool Ltd. It has its base in Marshal Island. 1broker has served over 20,000 users and handled over 2 million trades. The “1” in its name is coined from the fact that all bitcoin address starts with a 1.
The few months I have used 1broker have been awesome in that I have consistently made an average of 30% to 100% ROI each month by simply copying trades. My results not only depend on the traders I am copying but also on the strategies I apply so except you are using my exact methods, you might not achieve this same result. My result on 1broker motivated me to write this review. I will try my best to give a thorough and complete review of the 1broker platform highlighting its features, fees, different ways to make money through the platform, its pro, cons etc… So take your time, read to the end to see how to grow $150 to $10,000 copying trades on 1broker.
As I stated in the opening paragraph- 1broker is a CFD trading platform using only Bitcoins. So what is CFD?
What is CFD?
“CFD is an agreement to exchange the difference in the value of a particular asset from the time the contract is opened, until the time at which it is closed” If you are new to trading, you might not understand this definition, so I will make it much easier for you by using an analogy:
supposing I want to buy a piece of property, hold it for a month and sell it after a month no matter the market value. I might sell it at a profit if the value has appreciated or at a loss if the value has depreciated. To enter this trade, the piece of property might cost me $100,000. An onlooker might want to participate in this trade but he does not have $100,000. What he has is say $20. How does he participate? He can make a trade with his $20 in a CFD company stating that he believes the property will appreciate. That if the property appreciates within the time frame, he should be paid his $20 + the increment proportional to the appreciation of the property. And if it depreciates he will lose the fraction of his $20 proportional to the depreciation. This is basically what CFD is. You are not trading in the real market but the expected outcome. with this basic knowledge, let’s get on with 1broker
- Tight spread
- Quick deposits and withdrawals
- No minimum deposit
- No deposit fee
- No hidden fees (transaction logs and fee formulas are made available)
- User-friendly interface
- Customizable Leverage up to 200X
- Trailing stop-loss
- Social Trading (share your trade and get reward for copied profitable trades)
- Quick order execution
- No negative balance
- Friendly support
- Bullet Proof software
- API access
1broker has continued update and increase the market available to trade CFD on its platform. They launched with 55 markets in 2012. As at today, they have 75 markets under these instruments:
- Forex (22)
- Stocks (34)
- Indices (13)
- Commodities (5)
- Crypto (1)
Ease of Use
The 1Broker website is quite easy to navigate. Once logged in you can access all part of the site from your back office. The website loads very fast you might not even notice a lag especially when you refresh a page. A quick overview of the back office is as shown below:
- Markets: Shows the available trading instruments, clicking on any of them displays the markets available for trade
- Trade: Shows watch list, orders, positions, position history, copied traders and transaction log.
- Social: This is the page currently displayed in the screenshot above. It is the default login page. It Shows top 5 popular Traders and top 5 successful traders for the month. Click on any of the traders will show you more information on them, their past trades, stats and an option to copy their trades.
- Support: This show a page with links to the Help page, Fees/Minimums and Market hours. It also shows you a box to enter a message to support. Response to messages is usually within 24 hours.
- Profile: Users can log out here, access transaction notifications, changes settings, Access, API management and referral.
- Balance: This displays users cash balance, cash in position and sum.
What are the Requirements for Registration?
To open an account on 1broker, you are required only to provide your email address, username and password. Other than verifying your email address to be able to receive necessary notifications on your trade, there are no other verifications.
How Secured is 1Broker
Since its inception in 2012, 1Broker has not experienced any security breach. No account has been hacked. As stated on the security page, 1broker was built with damage mitigation in mind. Even if the web servers, trading engine, database and local computer are fully compromised, users fund will remain safe. This is because:
- More than 95% of users’ deposit is stored in hardware wallets and paper wallets.
- Only one person, the majority stakeholder of the company has direct access to these funds
- Wallet backups are stored encrypted in digital and analogue form and are distributed to various locations.
In addition, 1Broker is hosted on dedicated servers located in European data centre which is protected by security guards 24/7 with video recording and sophisticated access control procedure.
To maximize security, users can enable Two-Factor Authentication. When enabled a code is sent to users phone to authorize withdrawal or security changes. This ensures that only a hacker with users phone and password can hack his account which in this case is an error on the users part. Other security features can be seen on the security page on 1broker.
How to make Money on 1Broker
There are 4 ways to earn Bitcoins on 1broker
- Copying Trades
- Sharing Trade
- Affiliate Program
Trading on 1Broker is pretty easy. The trading interface is well simplified so that even a newbie will understand it. To trade,
- click the market tab
- select the trading instrument you wish to trade in. This is a display all the market available in it. The image below shows a portion of the Forex market
- Click on the market you wish to trade to get more information on the market. Click on the Red Rectangle (shorts) or the Blue Rectangle (long) to initiate a trade
- Enter the amount you wish to trade with, set leverage, set ‘stop-loss’ and ‘take-profit’ if you want to. Click create order to place your trade.
Note 1. ‘short’ means that you predict the market will go down from its current position. ‘Long’ means that it will go up from its current position. If you select ‘Long’ and the market goes up, you will gain profit to the degree the market goes up according to your set leverage. However, if the market goes down you lose to the degree the market goes down according to your set leverage. This statement applies also to ‘short’ but in the opposite direction.
2. ‘LEVERAGE’ determines your risk, the higher the leverage the more you gain or lose depending on the direction of the market.
3. You can set stop loss to minimize your loss if the market is going against you and you are not there to close the order yourself. You can equally set take profit to close the order when your trade has reached its target profit.
If you are new to trading, before you start trading, make sure you understand the market and that you are able to read charts. If you trade without proper knowledge you might lose your money. Another option you can leverage as a newbie is to copy trades. This is basically what I do. Since there are experts already trading.
Trade on 1BROKER
1Broker has made it possible for users to copy the trade of Pro traders with just a click of a button. They equally ensure the quality of these Professionals by placing some certain conditions to ensure that only quality trade is available for copy. I will explain this further under “sharing trades”.
When you copy a trader, any trade he makes is automatically copied by you to the amount you set in as much you have the fund available in your balance. Your copied trade is also automatically closed when the traders close his trade. However, you can manually close a copied trade.
To copy a trade
- Click the social tab to view the list of available traders to copy. You can click on ‘popular traders’ or ‘successful traders’ to view more traders.
- Click on the trader you will like to copy to view more details. Here you can see trader’s details including past record to enable you to make a better decision. If you are satisfied, click on copy.
- Enter the amount you want to copy each trade with. This is where many newbies get it wrong. if you don’t copy correctly, you might be making a loss even when the trader you are copying is making a profit. This happened to me in my first two weeks of copying trades.
Study the trader’s trading frequency and hold time. spread your fund to be able to copy all his trade. If not, you may be copying trades with potential losses but not having to copy those with potential profits. It’s advisable to copy with 1% to 3% of your fund. It’s not a standard but it works for me.
when you have done this, click ‘copy trader’.
Note that for each copied trade, you will be charged 2% of the profits you make.
Copy Trades on 1BROKER
If you are a pro trader, you can earn additional passive income by copying trades. 1broker will pay you 1.5% of the profits of your copies. For example, if each trade made by a trader is copied with 6btc in total, and the trader closed the trade at 30% profit, he will be rewarded with.
6(copy volume)*0.3(%profit)*0.015(copy reward %) = 0.027btc
Snortex one of the top traders in 1broker has earned over 21btc in reward profit from copied trade reward.
However, shared trades follow the following rules.
- A trader can only share a trade he makes with a minimum of 0.05btc. This ensured that the trader is risking a substantial amount of his own fund.
- Only profits from won closed trades are rewarded.
Another way to earn in 1broker is through its Referal/affiliate program. When you invite a friend to sign up to 1broker through your affiliate link;
- You earn 25% of the spread/trading commissions from position opened by them
- You earn 5% of the spread/trading commissions from positions copied by them.
- Your earnings is for a lifetime
- Your reward is instantly credited once your referral opens a position.
1Broker is quite transparent with all fees, they actually live up to the “no hidden charges’ statement. You can see all your fees and transactions at transaction log.
|1BROKER TRANSACTION FEES
|Real-Time Market Feed||0.00BTC
|Copy Trader Fees||2% of profit
|Overnight Financing||0.0077% to 0.02% depending on market and position held.
1broker have been criticized by many review websites for not having a number to call on their website or a ‘live chat’. I believe that is one area they need to improve on. However, the few months I have used 1broker, I have not had a reason to contact support. The website is easy to navigate and answers to your questions will likely be found in the HELP & FAQ page of the website.
Notwithstanding, for the purpose of this review and to know how responsive its support is I did contact 1broker by email. I receive a response within 24hrs. They were also transparent enough to state this time period on their contact page. I also found out that for quicker response to your query (approximately 1 hour), you can contact 1broker on facebook and twitter.
You can contact 1broker using the following channels
General Support support@1Broker.com
Business and Press office@1Broker.com
Bug Reports, Technical Questions patrick@1Broker.com
Feedback, Dividends, Settlements julian@1Broker.com
If you are a bitcoin user and you want to venture into trading, 1broker is an excellent platform to start. It provides you with the opportunity to copy trades while learning how to trade. You trade solely in bitcoin so your money does not lose value, it maintains its value in bitcoins. 1broker has been around since 2012, they have not experienced any security breach and have always left their customers satisfied. However, you should be aware of these potential risks; 1broker is not regulated. Trading CFD is a risk, you might lose your investment. Having said this, I will advise that
1. Only trade with money you can afford to lose
2. Withdraw your profit as soon as you make them.
All the best.
Open 1BROKER Account
- Tight Spread
- Trade World Market with Bitcoins
- Copy Trade
- No Minimum Deposit
- No Trading Limits
- No Demo Account
- No MT4