One Financial Markets Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this One Financial Markets Review.
One Financial Markets Review
One Financial Markets offers its clients a choice of two account types: Standard and DMA. The standard account offers fixed spreads and instant execution, while the DMA (Direct Market Access) one provides variable spreads and STP market execution. What is more, Sharia compliant service is available on the Standard account only, intended for clients who don’t want to earn interest for religious reasons. Besides, commodity, index and future CFDs can be traded solely on the Standard account.
The Company. Security of Funds
Company
Country
Regulation
C B Financial Services Ltd.
UK
FCA
One Financial Markets (Asia) Ltd.
Hong Kong
SFC
One Financial Markets (DIFC) Ltd.
UAE
DFSA
C B Financial Services Ltd.
South Africa
FSB
One Financial Markets is an award winning online Forex and CFD broker with 10 years of experience in the forex industry and global presence. It provides its services to both retail and institutional investors. through its wholly owned and affiliate offices throughout the Middle East, Europe, South America and Central and South East Asia.
One Financial Markets is the trading name of C B Financial Services Ltd., a company established in London in 2007 and licensed by FCA. It is also duly regulated in Hong Kong, UAE and South Africa.
UK-regulation involves strict rules and supervision. To acquire a license from the UK financial watchdog, brokers have to provide proof of financial stability and to meet numerous requirements. For example, clients` funds shall be kept in segregated bank accounts and regulated firms must hold a minimum of €730 000 in order to operate legitimately. Similar minimum capital requirements apply in other jurisdictions: Cyprus-based brokerages are obliged to hold € 1 million; Australian ones are required to possess at least $ 1 million; and US forex brokers must possess a minimum of $ 20 million.
Regulation by FCA also involves additional guarantee to clients’ funds, since they fall under the Financial Services Compensation Scheme (FSCS). FSCS is the UK’s compensation fund of last resort for customers of authorized companies, where the maximum compensation cover is £50,000 per person in the event that a broker becomes insolvent or ceases trading.
Hong Kong is the fourth largest forex market after the UK, the US, and Singapore. The licensing procedure is rather prolonged and complicated. It requires submission of a wide range of documents and compliance with a number of requirements, including such related to the management of the company and its accounting policies, in addition to a liquid capital of a minimum HK$5.0 million.
Trading Conditions
Minimum Initial Deposit
The minimum initial deposit, required by One Financial Markets amounts to $250, which is average for the forex market. Other UK-based forex brokers, like Darwinex and the famous FxPro, require as much as $500 as first deposit, while others, like Price Markets and FXopen demand just $1 from clients to start with.
Average Spreads & Commissions
One Financial Markets offers competitive fixed spreads on the commission-free MT4 accounts: 1.4 pips on EUR/USD & USD/JPY, 1.8 pips on GBP/USD. In comparison, Plus500 (also FCA-regulated) offers fixed spread amounting to 2 pips on the EUR/USD and charges no commission fees, and FxPro provides average variable spread of 1.4 pips on the EUR/USD for its commission-free accounts.
Variable spreads are offered on DMA account, starting from 0 pips on EUR/USD, and commission fees may be applied to trading on the DMA platform. You may look up real-time variable spreads of 15 leading brokers here.
Leverage
The maximum leverage on all FX products, offered by One Financial Markets, is 1:400. Such leverage is considered comparatively high, although many other FCA-regulated brokers offer similar or higher leverage rates: FXCM offers leverage up to 1:200; FxPro – up to 1:500 and XM – up to 1:888. More forex brokers offering leverage equal to or exceeding 1:500 can be viewed here.
Traders, however, should be careful, for higher leverage may multiply their earnings on a small deposit, but it may also lead to heavy losses. That is why limitations on leverage rates are set in several jurisdictions: 1:50 in the USA and Turkey, 1:25 in Japan, 1:100 in Poland.
Trading Platform
This broker provides two platforms: the popular MetaTrader 4 and its proprietary Tradable.
The most widely-used trading platform, MetaTrader 4, is available both as desktop and web versions. One Financial Markets added The ONE | Web Trader in December 2015, shortly after the MT4 developers MetaQuotes launched the web version. A mobile application, ONE MT4 mobile, is also offered by the broker.
MT4 allows users to fully automate their trades by Expert Advisors (EA) and let the program do all the work. This is one of the reasons MetaTrader 4 to be the preferred platform by most traders What is more, it offers a wide range of technical indicators, extensive back-testing and advanced charting package. Here is a list of more forex brokers offering MT4 platform.
Furthermore, One Financial Markets offers its clients a unique feature – an opportunity to create their own trading platform. The Tradable app store provided allows users to choose not only the layout, but the entire feature-set of their platform. Tradable runs across laptops, mobile and tablets and on any OS.
Bonuses and Promotions
As many other brokers, One Financial markets also offers on deposit bonus of 10% (to a maximum of $2,500). The trading credit is provided for a 90-day period and clients may use it for trading purposes This offer, however, does not apply to Direct Market Access (DMA) accounts.
Additionally, the broker offers Refer a Friend bonus up to $350. This offer benefits both the referrer and the person introduced, as the latter is given a trading bonus of up to $300 to use in their trading account.
In order to qualify for the bonus, the referrer must have an active One Financial Markets trading account with a minimum account balance of $500 (an active account is one with 10 completed trades).
Methods of Payment
Clients of One Financial Markets can make deposits and withdrawals from and to their accounts via credit/debit cards (VISA, MasterCard, Solo, Switch, Maestro and LaserCard accepted), bank and wire transfer, electronic payment systems (Safecharge, Neteller, Skrill, FasaPay, Linkpay, eWallet) as well as through the UAE Exchange (for clients based in the United Arab Emirates and Kuwait).
USD, GBP and EUR accepted.
One Financial Markets is a reputable global broker, offering a wide range of financial instruments to trade through the widely-used MT4 platform.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
One Financial Markets Review Conclusion
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