One Trading Markets broker review: This broker charges a shocking 50 USD for withdrawals

onetradingmarkets.com
nika
Written by:
Av
konstantinrabin
Calendar
Written on:
22 April 2023
Date
Last edit:
12 January 2024
Our rating:
3.66

3.66

One Trading Markets broker review: This broker charges a shocking 50 USD for withdrawals

onetradingmarkets.com
nika
Written by:
Calendar
Written on:
22 April 2023
Date
Last edit:
12 January 2024
Our rating
3.66

3.66

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial adviser if you have any doubts.
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Main summary

One Trading Markets is registered in St. Vincent and Grenadines but is not regulated by any regulatory body. The company was established in 2020 and has been operating on the brokerage scene since. The broker is still pretty young and they may have a chance of becoming a legit broker over time, but for now, the broker has exceptionally high withdrawal fees and is not recommended for trading. The withdrawal fees are 50 USD unless it has been negotiated otherwise through online messaging. Since it is possible that the broker will correct some of their practices and become regulated in the future, we will review its fees, spreads, and other details below. 

Pros & cons of One Trading Markets broker

  • Low minimum deposit requirements starting from 100 USD
  • Offers access to MetaTrader 5
  • Fast and digital account opening/verification
  • Offers access to 71 Forex pairs
  • Does not offer cryptos
  • No regulatory oversight
  • $50 withdrawal fees
  • Poor customer support
  • Few market research tools and educational materials
  • There are no accounts without spread markups

One Trading Markets Fact sheet

Main features
Regulations Unregulated
Fees on deposits 0 USD
Fees on withdrawal 0 USD
Inactivity fees 50 USD
Minimum deposit 100 USD
Minimum account activation 100 USD
Number of available assets 201
Leverage up to 1:1000
Available trading markets CFDs on Stocks, Commodities, Energies, Forex, Indices, Metals
Account currencies USD
Demo account Yes
Live account types Standard, Executive, Pro
Islamic account Yes
Security
Negative balance protection -
Part of compensation fund -
Keeps funds on segregated bank account -
Assets
Forex 71
Shares 0
Cryptocurrencies 0
Indices 13
Commodities 8
Total 201
Fees & spread
Forex From 1.2 pips
Shares N/A
Cryptocurrencies N/A
Indices From 1.1 pips
Commodities From 0.08 pips
Software
Platforms MetaTrader 5
Mobile trading support Yes
Mac device support Yes
Commodities Yes
Payment systems
Payment methods Bank Transfer, Credit/Debit Card, Neteller, PayPal, Skrill, UnionPay, WebMoney, PM, STICPAY
Minimum deposit Bank Transfer, Credit/Debit Card, Neteller, PayPal, Skrill, UnionPay, WebMoney, PM, STICPAY
Minimum withdrawal Bank Transfer, Credit/Debit Card, Neteller, PayPal, Skrill, UnionPay, WebMoney, PM, STICPAY
Withdrawal processing time Instant
Time to open an account -
Show all

Safety & Security of One Trading Markets

Security options are poor as the broker is not regulated. Additionally, it does not offer clarity on whether it is using segregated accounts for client funds, and is not part of a compensation fund, all of which increases the risk of losing funds, and with the withdrawal fee of 50 USD, things on the security side look pale, to say the least. 

Account types available for traders on One Trading Markets

There are three types of accounts offered by One Trading Markets called Standard, Executive, and Pro accounts. The difference between these accounts lies in spreads and minimum deposits required. The spreads are as follows, 1.2 pips, 1.0 pip, and 0 pips respectively. The difference between Standard and Executive account spreads is very minimal and the minimum deposits required are 100 USD on the Standard and 500 USD on the others. Since both accounts have zero commissions and the Standard has higher leverage of up to 1:1000 there is no reason to choose the Executive account over the Standard account. The minimum deposit required for the Pro account is 5,000 USD and has a maximum leverage of 1:400. The spreads start from 0.0 pips and there is a commission of 3.5 USD per side per lot which is pretty competitive and within the industry average. 

Pros & cons of One Trading Markets account types

ProsCons
Spreads and commissions are average and competitiveAll accounts have both spreads and commissions
Enables traders to use demo and Islamic account typesIt requires 5,000 USD to access 0 spreads account
Withdrawal fees of 50 USD make Standard and Executive accounts meaningless without considerable starting capital 

Fees & commissions review of One Trading Markets

AssetSpread
ForexFrom 1.2 pips
CommoditiesFrom 0.08 pips
CStock CFDsFrom 0.01
IndicesFrom 1.1 pips

Comparing One Trading Markets fees with other brokers

One Trading Markets fees compared to Interactive Brokers fees

Type of FeeOne Trading MarketsInteractive Brokers
EUR/USD SpreadFrom 1.2 pipsFrom 0.6 pips
Fees on Deposits0 USD1%
Inactivity fee50 USD per month after 6 months of inactivityNo*

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

One Trading Markets fees compared to CM Trading fees

Type of FeeOne Trading MarketsCM Trading
EUR/USD SpreadFrom 1.2 pipsFrom 0.9 pips
Fees on Deposits0 USDNo
Inactivity fee50 USD per month after 6 months of inactivityYes, 15 EUR/USD per month after 60 days of inactivity

One Trading Markets fees compared to plus500 fees

Type of FeeOne Trading Marketsplus500
EUR/USD SpreadFrom 1.2 pipsFrom 0.8 pips
Fees on Deposits0 USDNo
Inactivity fee50 USD per month after 6 months of inactivityYes, 10 USD per month after 3 months of inactivity

One Trading Markets fees compared to XM fees

Type of FeeOne Trading MarketsXM
EUR/USD SpreadFrom 1.2 pipsFrom 0.6 pips
Fees on Deposits0 USDNo
Inactivity fee50 USD per month after 6 months of inactivityYes, 15 USD after 12 months, +5 USD/m

One Trading Markets fees compared to AvaTrade fees

Type of FeeOne Trading MarketsAvaTrade
EUR/USD SpreadFrom 1.2 pipsFrom 0.9 pips
Fees on Deposits0 USDNo
Inactivity fee50 USD per month after 6 months of inactivityYes, 50 USD after 3 months, 100 USD administration fee after a year

One Trading Markets fees compared to Capital.com fees

Type of FeeOne Trading MarketsCapital.com
EUR/USD SpreadFrom 1.2 pipsFrom 0.9 pips
Fees on Deposits0 USDNo
Inactivity fee50 USD per month after 6 months of inactivityYes, 50 USD after 3 months, 100 USD administration fee after a year

Trading platforms and mobile trading reviewed at One Trading Markets

One Trading Markets offers MetaTrader 5 (MT5) as a trading platform, which is an advanced professional trading platform offering numerous useful features. The broker allows a minimum of 0.01 lots on their MT5 accounts. No additional features are provided except for built-in advanced charting and technical analysis capabilities which come as standard with the platform itself. 

Education and research tools offered by One Trading Markets

There is a blog with posts about important Forex news and analysis of these events. There are no additional educational materials at this time and the market research tools provided are limited to an economic calendar. Overall, the broker has a limited number of educational and market research tools. 

Customer support of One Trading Markets

It took us two tries to connect with the broker’s support through live chat from the website. There was no answer to our questions regarding the withdrawal fees and if we could negotiate lower fees for withdrawals. The live chat is working, but it is slow and support is not responsive. Other support forms offered by One Trading Markets include a phone number, an email address, and an online form to leave a message to the broker. 

Conclusion

One Trading Markets is a young and unregulated Forex broker that offers access to a range of financial instruments. However, it has very high withdrawal fees of $50, poor customer support, and limited educational and research materials. Its account types have reasonable spreads and commissions, but the withdrawal fees make them meaningless without considerable starting capital. One Trading Markets lacks transparency on its security measures, which increases the risk of losing funds. Comparing its fees and setup to other brokers, One Trading Markets is not the best choice for traders. Unless the broker improves its offering and becomes regulated, it is not recommended for trading. 

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FAQs about One Trading Markets

Is One Trading Markets a legit Forex broker?

The broker is only registered in St. Vincent and Grenadines by the Registrar of International Business Companies and registered at the Financial Service Authority. As such, One Trading Markets does not hold any license and is therefore not regulated by any authority. Trading with an unregulated broker imposes higher risks of losing funds and trading should be carried out with a high amount of caution. Furthermore, we had difficulties contacting the broker’s representative which increases the suspicions that the broker is a bad apple. 

What are withdrawal policies at One Trading Markets?

Withdrawals of any sort from a One Trading Markets account will impose a processing fee of $50/£40/€45. Since the minimum deposit requirement is 100 USD. It is mentioned on the broker’s website that these fees can be lower when negotiated with the broker, but still, this is not a good way of charging customers or doing business.