Recently I’ve been doing a little bit of trading on 1Broker. Both copy trading and manual trading – mainly in stocks. 1Broker is a cfd platform that is based exclusively on Bitcoin. This means you can only deposit and withdraw Bitcoin.
Platforms like 1Broker are going to be the future of finance in my opinion. In this post I’m going to share with you some of the reasons why I’ve been enjoying trading on 1Broker:
Because 1Broker is a Bitcoin only brokerage, it doesn’t require the same verification requirements that traditional brokers need. I hate having to upload scans of my passport etc on brokers. I’m always worried they might fall into the wrong hands. On 1Broker, you don’t need to worry about any of this. You can sign literally in minutes, deposit some Bitcoin and start trading. It’s really that simple.
1Broker has a neat copy trading feature where you can automatically copy the trades made by other traders on the platforms. If you’re not a very good trader then this is a great way to make money trading. 1Broker lists the most popular and most profitable traders to make it easy to find the best trader to copy.
The way copy trading works on 1Broker is you choose the maximum number of trades per day you want to copy and then choose how much capital you want to allocate to each trade.
1Broker lets you choose how much leverage you want to use on each trade. This is a feature that I wish more brokers would implement! The only other reputable broker who does this well is eToro.
On 1Broker you can choose from 1x up to 15x leverage. That means you can trade without leverage as well. So if you’re looking to make some long term trades, this is perfect. Or if you’re looking to cash in on some bigger market movements, you can up the leverage.
If you’re new to trading, then you should be trading with as little leverage as possible. And it’s good to see that 1Broker lets you do this. This will ensure you don’t wipe your account out with just a couple of dodgy trades.
1Broker’s fees are actually very reasonable. When I first signed up for the platform, I was expecting them to be higher, simply because they are a unique platform and dealing with Bitcoin. 1Broker doesn’t charge any fees for deposits or just keeping your Bitcoin on the platform. They charge a spread – which is no worse than many other platforms and they charge overnight financing. With unleveraged positions there are NO overnight financing fees. This means you could keep a long position open for months without any fees. This is the type of trading I like.
1Broker isn’t exactly pretty but I actually really like the simplicity. Opening and closing trades is very simple and easy to do. And the lack of interface “features” means that trading seems easier. Everything is web based, so there is no software that you need to download and install. And no metatrader! (thank god).
Have you traded on 1Broker? Let me know your experiences in the comments