Below is a comprehensive analysis of Number One Capital Markets Limited (N1CM), based on the provided criteria, including online complaints, risk assessment, website security, WHOIS data, IP and hosting, social media presence, red flags, regulatory status, user precautions, potential brand confusion, and website content. The analysis draws on available information, including the provided web search results, and critically evaluates the broker’s profile to offer an objective assessment.

1. Online Complaint Information ¶

• Sources of Complaints: Multiple platforms, including Trustpilot, Forex Peace Army, Reviews.io, WikiFX, and Scam Detector, feature user reviews and complaints about N1CM. These platforms reveal a mixed reputation with significant concerns.
• Common Complaints:
• Withdrawal Issues: Numerous users report delays or outright refusal to process withdrawals. For example, one user on Trustpilot mentioned waiting weeks for a withdrawal with excuses from customer support, while another on WikiFX claimed N1CM demanded a 10% “tax clearing fee” to release funds.
• Account Closure: A user on Forex Peace Army reported their account being closed without reason after depositing funds, particularly affecting U.S. clients despite the website allowing U.S. registrations.
• Fraud Allegations: Reviews on Reviews.io and Valforex.com accuse N1CM of being a scam, with claims that the platform is fake, funds are misappropriated through cryptocurrency wallets, and trading profits are not genuine. One user alleged their $445,000 was withheld, and another claimed $17,500 was stolen.
• Customer Support: Mixed feedback exists on support responsiveness. Some users praise quick responses, while others report slow or unhelpful follow-ups.
• Positive Feedback: Some reviews commend N1CM for low spreads, fast execution, and user-friendly platforms (MT4/MT5). However, positive reviews are often overshadowed by serious allegations of misconduct. Assessment: The volume and severity of complaints, particularly regarding withdrawals and fraud, raise significant concerns. While some users report positive experiences, the consistency of withdrawal-related issues suggests potential operational or ethical problems.

2. Risk Level Assessment ¶

• Scam Detector Score: N1CM received a medium trust score of 58.2/100 from Scam Detector, tagged as “Active. Medium-Risk.” The score is based on 53 factors, including high-risk activity related to phishing, spamming, and proximity to suspicious websites (scoring above 80, indicating high risk).
• User-Reported Risks: Complaints about withheld funds, account closures, and fake trading platforms indicate a high financial risk for users. The reported inability to withdraw large sums (e.g., €445,000) suggests potential insolvency or intentional fraud.
• Trading Risks: N1CM offers high leverage (up to 1:1000), which amplifies both gains and losses. This is particularly risky for inexperienced traders, as a 0.1% market move could wipe out an account. The broker’s negative balance protection is a mitigating factor, but its offshore regulation limits enforceability.
• Proximity to Suspicious Websites: Scam Detector notes a strong connection between N1CM’s website and suspicious online destinations, increasing the risk of phishing or malicious activity. Risk Level: High. The combination of a medium trust score, serious user complaints, high leverage, and connections to suspicious websites indicates substantial risk. Traders should approach with caution.

3. Website Security Tools ¶

• SSL/TLS Encryption: The website (https://www.n1cm.com/) uses HTTPS, indicating SSL/TLS encryption, which is standard for protecting data in transit.
• Security Claims: N1CM claims to follow strict security principles under the Markets in Financial Instruments Directive (MiFID) and works with reputable EU banks. However, MiFID applies primarily to EU-regulated brokers, and N1CM’s Vanuatu registration raises doubts about the applicability of these standards.
• User-Reported Security: A user on Forbino.com praised N1CM’s security protocols, citing a quick resolution to an account lockout and the availability of two-factor authentication (2FA).
• Potential Vulnerabilities: Scam Detector’s report on proximity to suspicious websites suggests potential vulnerabilities in the website’s HTML code or server environment, which could expose users to phishing or malicious ads. Assessment: The website employs basic security measures (HTTPS, 2FA), but claims of MiFID compliance are questionable due to offshore regulation. The reported connection to suspicious websites is a red flag, suggesting potential security risks.

4. WHOIS Lookup ¶

• Domain Information:
• Domain: n1cm.com
• Registered: January 29, 2016
• Expires: January 29, 2025
• Last Updated: October 7, 2022
• Registrar: GoDaddy.com
• Registrant: Registration Private (Domains By Proxy, LLC), Tempe, Arizona, USA. Contact details are masked, a common practice but one that reduces transparency.
• Name Servers: alan.ns.cloudflare.com and vera.ns.cloudflare.com (Cloudflare), indicating the use of a reputable content delivery network (CDN) for performance and security.
• Transparency: The use of a privacy service (Domains By Proxy) obscures ownership details, which is not uncommon but can be a concern for a financial services provider where transparency is expected. Assessment: The WHOIS data shows a long-standing domain with reputable hosting infrastructure (Cloudflare). However, the masked registrant details reduce transparency, which is a minor red flag for a broker.

5. IP and Hosting Analysis ¶

• Server Location: United States, hosted by Cloudflare.
• IP Addresses: The hostname resolves to two IPv4 and two IPv6 addresses, indicating robust infrastructure.
• Web Server: The website is powered by “N1CM.com” webserver software, with no additional details on the server stack.
• Performance: The site receives approximately 1,300 daily visitors and 4,100 page impressions, suggesting moderate traffic for a broker.
• Hosting Concerns: No specific hosting vulnerabilities are reported, but the connection to suspicious websites (per Scam Detector) could indicate shared server environments or compromised infrastructure. Assessment: The hosting setup is professional, leveraging Cloudflare for performance and security. However, the reported proximity to suspicious websites warrants caution, as it may reflect server-side risks.

6. Social Media Presence ¶

• Official Channels: N1CM promotes customer support via WhatsApp, Telegram, Skype, and other social networks, indicating an active presence.
• User Feedback: Complaints mention unresponsive or deleted social media accounts. For instance, a WikiFX user noted an account manager deleting their Facebook page and ignoring WhatsApp messages.
• Engagement: No specific data on follower count or engagement rates, but the broker’s reliance on social media for support suggests moderate activity. The lack of transparency about specific social media handles on the website is a concern. Assessment: N1CM appears to use social media for customer support, but reports of unresponsive or deleted accounts raise doubts about reliability. Traders should verify official channels before engaging.

7. Red Flags and Potential Risk Indicators ¶

• Withdrawal Delays/Refusals: Consistent reports of withdrawal issues, including demands for additional fees or prolonged delays, are major red flags.
• Offshore Regulation: N1CM is regulated by the Vanuatu Financial Services Commission (VFSC, License No. 15035), which is considered weak compared to tier-1 regulators like FCA, CFTC, or ASIC. The VFSC has a low capital requirement ($2,000) and limited investor protection.
• Revoked License: WikiFX reports that N1CM’s Vanuatu Retail Forex License was revoked, indicating it currently operates without valid regulation.
• Proximity to Suspicious Websites: A high score (>80) for connections to dubious online platforms suggests potential phishing or malware risks.
• Lack of Transparency: The website lacks clarity on trading conditions, banking partners, and fund segregation. Masked WHOIS data and vague regulatory claims further reduce transparency.
• High Leverage: Offering 1:1000 leverage for accounts under $3,000 is unusually high and risky, potentially targeting inexperienced traders.
• Bonus Promotions: N1CM offers a 35% first deposit bonus and 25% redeposit bonus (up to $5,000), which are often tied to stringent conditions. Leading regulators ban such promotions due to their manipulative nature.
• Alleged Fraud: Reports of fake trading platforms, misappropriated funds, and gaslighting vulnerable clients (e.g., exploiting personal circumstances) are severe ethical concerns.
• Inconsistent Support: Mixed reviews on customer support, with some users reporting quick responses and others citing unresponsiveness, suggest operational inconsistencies. Assessment: Multiple red flags, including withdrawal issues, revoked regulation, high leverage, and fraud allegations, indicate significant risks. The lack of transparency and connection to suspicious websites further heightens concerns.

8. Regulatory Status ¶

• Claimed Regulation: N1CM claims to be regulated by the VFSC (Vanuatu, License No. 15035).
• Verification: WikiFX reports that the VFSC license has been revoked, and N1CM currently operates without valid regulation.
• VFSC Limitations: The VFSC is an offshore regulator with minimal oversight, a low capital requirement ($2,000), and no robust investor compensation schemes, unlike FCA or ASIC.
• MISA Claims: Some reviews mention N1CM claiming regulation by the Mwali International Services Authority (MISA) in Moheli, which is not a recognized financial regulator and is often used by dubious brokers.
• U.S. Client Issues: N1CM allows U.S. clients to register despite claiming not to cater to them, violating terms and conditions and raising ethical concerns. Assessment: N1CM’s regulatory status is highly problematic. The revoked VFSC license and reliance on questionable authorities like MISA indicate it operates as an unregulated broker, posing significant risks to clients.

9. User Precautions ¶

To mitigate risks when considering N1CM, users should:

1. Verify Regulation: Independently check N1CM’s regulatory status with the VFSC or other claimed authorities. Avoid brokers with revoked or dubious licenses.
2. Start Small: Use a demo account or deposit minimal funds ($5 minimum) to test the platform before committing significant capital.
3. Document Interactions: Keep records of all communications, deposits, and withdrawal requests to support potential disputes or complaints.
4. Avoid Bonuses: Decline promotional bonuses, as they often come with restrictive conditions that hinder withdrawals.
5. Use Secure Payment Methods: Opt for payment methods with buyer protection (e.g., credit cards) rather than cryptocurrencies, which are harder to trace.
6. Research Reviews: Cross-reference user reviews on multiple platforms (e.g., Trustpilot, Forex Peace Army) to gauge reliability.
7. Enable 2FA: Activate two-factor authentication to enhance account security.
8. Report Issues: If scammed, report to the Federal Trade Commission (FTC) or local financial authorities and share experiences on review platforms.
9. Compare Brokers: Consider regulated brokers with stronger oversight (e.g., CySEC, FCA) and better reputations, such as Etoro. Assessment: Users must exercise extreme caution, prioritizing regulated brokers and thoroughly testing N1CM’s services before investing.

10. Potential Brand Confusion ¶

• Similar Names: The name “Number One Capital Markets” could be confused with other financial firms, such as “Capital Markets” or “Number One Financial.” This is a common tactic among dubious brokers to leverage established brand recognition.
• Domain Variations: The existence of “n1cm-1.com” alongside “n1cm.com” raises concerns about potential phishing or clone websites.
• Misleading Claims: N1CM’s claims of MiFID compliance and partnerships with EU banks may mislead users into assuming stronger regulation or credibility than exists.
• Offshore Confusion: The Vanuatu registration and MISA claims may confuse users unfamiliar with the differences between offshore and tier-1 regulators. Assessment: N1CM’s branding and domain variations pose a moderate risk of confusion, particularly for users mistaking it for a more reputable or regulated entity. Always verify the exact website (n1cm.com) and regulatory status.

11. Website Content Analysis ¶

• Content Overview: The website promotes forex, crypto, indices, and CFD trading with low spreads (from 0.1 pips), high leverage (up to 1:1000), and bonuses. It emphasizes MT4/MT5 platforms, negative balance protection, and support via email, phone, WhatsApp, and live chat.
• Claims and Promises:
• Regulation: Claims VFSC regulation but omits the revoked status.
• Security: States adherence to MiFID and partnerships with EU banks, which is misleading given its offshore status.
• Bonuses: Offers 35% first deposit and 25% redeposit bonuses, which are flagged as risky due to restrictive terms.
• Low Deposits: Highlights a $5 minimum deposit, appealing to novice traders but potentially masking risks.
• Transparency Issues: The website lacks detailed information on trading conditions, banking partners, fund segregation, and withdrawal fees (e.g., 2.5% + $7.5 for Visa/MasterCard).
• User Experience: Described as user-friendly with educational resources and demo accounts, but some users report slow execution and glitches.
• Risk Warnings: Includes standard warnings about CFD risks (74-89% of retail investors lose money), but these are generic and may not adequately highlight specific risks. Assessment: The website is professionally designed but lacks transparency on critical details like regulation, fees, and fund safety. Misleading claims about MiFID and bonuses are concerning, and the emphasis on low deposits and high leverage targets vulnerable traders.

12. Overall Assessment and Recommendations ¶

• Summary:
• Strengths: Low minimum deposit ($5), MT4/MT5 platforms, negative balance protection, and some positive user feedback on execution and support.
• Weaknesses: Revoked VFSC license, serious withdrawal complaints, fraud allegations, high leverage risks, proximity to suspicious websites, and lack of transparency.
• Risk Profile: High risk due to unregulated status, consistent user complaints, and multiple red flags.
• Recommendations:
• Avoid or Proceed with Extreme Caution: Given the revoked license, fraud allegations, and withdrawal issues, N1CM is not a safe choice for most traders. Consider regulated brokers with stronger oversight (e.g., FCA, CySEC).
• Due Diligence: If testing N1CM, use a demo account, deposit minimal funds, and avoid bonuses. Verify all claims independently.
• Monitor Developments: Check for updates on N1CM’s regulatory status or legal actions, as the situation may evolve. Final Verdict: Number One Capital Markets (N1CM) exhibits significant risks, including an unregulated status, severe user complaints, and potential fraud indicators. Traders are strongly advised to seek alternatives with reputable regulation and transparent operations.

Note: This analysis is based on available information as of April 22, 2025, and reflects a critical evaluation of N1CM’s operations. Always conduct your own research and consult financial advisors before trading. If you need specific details or further analysis, please clarify!