T1Markets Review? Learn More About T1Markets.Com
T1Markets is an investment scam that is becoming more sophisticated and frequent. It shouldn’t surprise you since forex trading presents earning potential for legal and illegal brokers and clients.
As a result, investors must be aware of a growing number of crooked companies that allegedly have everything an investor needs. But in reality, it’s a decoy.
Speaking of T1Markets, it is the trading name of Cyprus-based company General Capital Brokers Ltd (GCB). At a swift glance, T1Markets has everything necessary for trading, including a multilingual website with lots of legal documents, a mobile trading app, plenty of tradable assets, trading tools, educational resources, and a broker license.
Nevertheless, it would be best to take this with a grain of salt since it’s not how it seems. Continue reading our T1Markets broker review to find out why you should stay away from this provider of trading services.
|Company||T1Markets — parent company General Capital Brokers Ltd|
|Address||359, 28th October Street, Neapolis, WTC Cyprus -Trust Re Building, 1st Floor, 3107 Limassol|
|[email protected], [email protected]|
|Phone||+ 357 250 250 50|
|Leverage||Retail 1:30, Professional 1:200|
Is T1Markets a Legitimate Broker? Regulation and Security
Before investing, one must do due diligence and determine if it’s an authorized or unauthorized broker. Even if an agency claims it’s a licensed business, it should be double-checked.
T1Markets presents itself as an approved entity by CySEC (Cyprus Securities and Exchange Commission) through its parent company General Capital Brokers Ltd. However, there are many inconsistencies with this claim.
Most notably, when you access T1Markets’ website, you’ll be informed that its holding company ceased trading on January 21, 2022. Further, T1Markets gave up its license, which means it can’t lawfully operate; it’s also terminating activities.
The alarming fact is that this trading services provider still accepts payments, indicating a shady business practice. Therefore, using this brokerage service is risky and doesn’t make much sense.
T1Markets Trading Software Available
About trading platforms available for customers of T1Markets, the agency claims it uses MT4, which isn’t true after reviewing its website. It actually offers its browser-based trading platform and mobile trading application.
Both options tend to lag behind industry-leading MT4 and MT5 utilized by prominent players in the market. Thus, you should avoid inferior trading systems to be protected and productive.
Deposit and Withdrawal Methods with T1Markets
As for funding methods, several options are available with T1Markets. People can make deposits via credit/debit cards, wire transfers, and e-wallets. T1Markets offers several trading accounts:
- Bronze — spreads 2.0
- Silver — spreads 0.07
- Gold — spreads 0.05
- Platinum — spreads 0.03
Each account comes with zero deposit fees and a leverage of 1:30 for retail clients and 1:200 for professionals. However, the website doesn’t provide any information about the minimum required deposit referencing each account, which is strange and arouses suspicions.
The only good thing with this company is that it offers its clients a demo account option where an investor can practice trading for free without risks. Anyway, your money is not safe with this bogus broker due to many warnings and worrying signs.
In addition, there are many withdrawal complaints against the company from customers accusing this brokerage of being a scammer that doesn’t approve money withdrawals. Thereby more reasons for not trusting T1Markets.
This Is How the Fraud Is Carried Out
Online trading scams come down to one thing, namely, taking people’s hard-earned cash. If you wonder how a T1markets scam works, the con artists behind this firm assume you will buy the fact that CySEC certifies it.
As we’ve already explained, the license has been canceled. However, they continue working illegally and take unfair advantage of people’s trust.
Illicit brokers will rope you into investing your money into their offerings falsely presented as genuine and profitable. Financial swindlers have insatiable appetites for money. Once they entice you with a fraudulent project, their request for more money will persist.
After a few feigned gains on a manipulative trading platform, you soon start losing money. Money withdrawal is impossible with a phony brokerage, even if you generate profits.
With so many options of reliable trading organizations out there, it’s completely unnecessary risking your investment by trading with an untrustworthy brokerage like T1Markets.
Bringing our T1Markets review to a conclusion, we identified this forex provider as deceptive and risky to trade with. Transparency is not a better part of T1Markets, and regardless of its (expired) license and (un)regulated business, this company is about to close its operations and can’t trade legally.
Despite this, the broker continues to operate, market its services, accept clients, and take payments. Everything points out that it’s nothing but a fraud. Anyone interested in online trading should avoid this firm by all means and opt for respected and legitimate organizations.
FAQs About T1Markets Broker
What Is The Minimum Deposit at T1markets?
Weirdly, T1Markets doesn’t provide any information on the minimum opening balance related to their trading accounts.
What Are The Spreads Offered by T1markets?
When trading with T1Markets, you will have spreads from 0,03 to 2,0. Most industry leaders offer 0,0 spreads.
What Kinds of Platforms for Trading Does T1Markets Offer?
T1Markets fails to provide industry-proven trading platforms like MT5 and offers its substandard internet-based trading software and mobile trading application.