- Copy trading
- Good privacy
- Many trading markets
- No restricted countries
- Only Bitcoin supported
- Old fashion interface
1Broker was closed and domain name seized by the FBI. According to both the US agencies, the company operating 1Broker, 1pool Ltd., has violated the Commodity Exchange Act, as well as the federal securities laws regarding security-based swaps funded with Bitcoins. More specifically, 1Broker is accused of willfully operating as an unregistered broker/dealer of securities and futures commission merchant, as well as of money laundering. Get more details HERE.
Follow the Twitter of 1Broker to get more details about the funds and availability to withdraw them if/when possible. Official 1Broker Twitter account.
Also, more of the details can be found in the official FBI page – www.fbi.gov/1broker
The review isn’t relevant since September 28th, 2018. It stays here for an archival purpose.
1Broker is a very different trading site which has tons of various markets like forex (GBP/USD, EUR/USD, USD/JPY and much more), stocks (Apple, Amazon, Citigroup, BMW, Nvidia, Tesla, Twitter and many other well known names), indices (Dow Jones, Nasdaq, FTSE, SMI, etc.), and commodities (gold, silver, gas, others). Also, one cryptocurrency pair – BTC/USD. Sadly, the site doesn’t support more digital coins and other pairs between cryptocurrencies.
One of the most interesting functions – copy (social) trading. It means that user can copy trades of other members without a need to make it manually. So it means that the profit which is made by a copied party goes to the copying user as well. However, calculate losses the same way.
As 1Broker includes the Bitcoin only, the speed depends exclusively on a transaction speed. Orders are completed in seconds, without any noticeable delays.
It has no limits at all since Bitcoin is the only cryptocurrency supported and any fiat currencies can be used for a deposit. However, some limits apply for minimum trade or order amount and usually is 0.001 BTC.
Verification process and privacy
1Broker doesn’t require to provide any personal details. Also, it doesn’t need any paperwork or verification procedures, saving a total privacy of the user.
Furthermore, for an additional privacy, customers can set a profile to private and hide all information. However, 1Broker saves IP and access logs.
1Broker offers a decent level of security. First of all, a user has an option to enable Two-Factor Authentication. Secondly, users can track active sessions and access log with all the IPs recorded.
Email cannot be changed easily. Users need to contact 1Broker support in order to change an email address. That helps to avoid an account hijacking.
Users can find a huge knowledge base in the first place. It covers most of the frequent questions and only if there is no answer, a user can open a support ticket. Support answers within 24 hours usually.
1Broker is a nontraditional place for trading. Some unique functions like copy trading make it a suitable place for some passive income (possibly). Another exciting feature – trading of stocks, indices, commodities, and forex. Everything works fast and smoothly. Users don’t need to open complex brokerage accounts on specific service providers. In some way, it’s a competitor to the Whaleclub.
However, social trading can lead to some looses as well. Finally, the number of supported cryptocurrencies could improve within time (there fly some rumors about other platform dedicated to cryptocurrency trading only).
Reviewed by Coinsmaniac