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1ForYou Brokers 2025

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Written By
James Barra
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Written By
James Barra
James is an investment writer with a background in financial services. As a former management consultant, he has worked on major operational transformation programmes at prominent European banks. James authors, edits and fact-checks content for a series of investing websites.
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Edited By
Jemma Grist
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Edited By
Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
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Fact Checked By
William Berg
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Fact Checked By
William Berg
William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.
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Updated
Jun 6, 2024

1ForYou is an innovative payment gateway that is bridging the gap between South Africa’s informal cash economy and digital finance. It’s a convenient deposit option for South African-based traders looking to fund their investment accounts.

1ForYou is no longer accepted by leading brokers. See other payment methods for online trading.

Brokers With Alternative Payment Methods To 1ForYou

These top-rated brokers offer convenient funding alternatives to 1ForYou:

Click a broker for details
  1. 1
    FOREX.com
    Active Trader Program With A 15% Reduction In Costs
    Ratings
    4.9 / 5
    4 / 5
    4.3 / 5
    4.6 / 5
    4.6 / 5
    4.3 / 5
    4.8 / 5
    4.5 / 5
    3.6 / 5
    3.8 / 5
    $100
    0.01 Lots
    1:50
    NFA, CFTC
    Forex, Stocks, Futures, Futures Options
    MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
    Wire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH Transfer
    USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN
    Go To FOREX.com
  2. 2
    NinjaTrader
    Ratings
    4.3 / 5
    2.8 / 5
    2.9 / 5
    4.3 / 5
    4.5 / 5
    4 / 5
    4 / 5
    4 / 5
    3 / 5
    3.2 / 5
    $0
    0.01 Lots
    1:50
    NFA, CFTC
    Forex, Stocks, Options, Commodities, Futures, Crypto
    NinjaTrader Desktop, Web & Mobile, eSignal
    ACH Transfer, Debit Card, Wire Transfer, Cheque
    USD
    Go To NinjaTrader
  3. 3
    Interactive Brokers
    Ratings
    4.5 / 5
    3.5 / 5
    4.6 / 5
    4.3 / 5
    3.3 / 5
    3 / 5
    4.4 / 5
    4.3 / 5
    4.3 / 5
    4.5 / 5
    $0
    $100
    1:50
    FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM
    Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
    Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral
    Cheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit Card
    USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF
    Go To Interactive Brokers
  4. 4
    eToro USA
    Invest $100 and get $10
    Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk. https://www.daytrading.com/ is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.
    Ratings
    4.3 / 5
    3 / 5
    3.9 / 5
    3.4 / 5
    4 / 5
    3 / 5
    4.3 / 5
    4.5 / 5
    4.3 / 5
    4 / 5
    $100
    $10
    SEC, FINRA
    Stocks, Options, ETFs, Crypto
    eToro Trading Platform & CopyTrader
    ACH Transfer, Debit Card, PayPal, Wire Transfer
    USD
    Go To eToro USA
  5. 5
    RedMars
    Ratings
    3.3 / 5
    3.5 / 5
    3.8 / 5
    3.5 / 5
    3.8 / 5
    4 / 5
    2.8 / 5
    3 / 5
    4.7 / 5
    4.6 / 5
    €250
    0.01 Lots
    1:30 (Retail), 1:500 (Pro)
    CySEC, AFM
    CFDs, Forex, Stocks, Indices, Commodities, Cryptos
    MT5
    Credit Card, Wire Transfer, Debit Card, Sticpay, FasaPay, Bitcoin Payments, Trustly, PayPal, Skrill, Neteller, Klarna, Mastercard, Visa
    USD, EUR
    Go To RedMars
  6. 6
    IQCent
    20% to 200% Deposit Bonus
    Ratings
    2.5 / 5
    3.3 / 5
    2.4 / 5
    4.3 / 5
    3.8 / 5
    2.5 / 5
    3 / 5
    2 / 5
    4.3 / 5
    4.1 / 5
    $250
    $0.01
    1:500
    IFMRRC
    Binary Options, CFDs, Forex, Indices, Commodities, Crypto
    Online Platform, TradingView
    Credit Card, Debit Card, Wire Transfer, Bitcoin Payments, Ethereum Payments, Visa, Mastercard
    USD, EUR
    Go To IQCent
  7. 7
    OANDA US
    CFDs are not available to residents in the United States.
    Ratings
    4.5 / 5
    3.5 / 5
    2.8 / 5
    4 / 5
    4.5 / 5
    3.5 / 5
    4.3 / 5
    3.8 / 5
    4.7 / 5
    3.7 / 5
    $0
    0.01 Lots
    1:50
    NFA, CFTC
    Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)
    OANDA Trade, MT4, TradingView, AutoChartist
    Wire Transfer, Visa, Mastercard, Debit Card, ACH Transfer
    USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD
    Go To OANDA US
  8. 8
    Plus500 US
    Welcome Deposit Bonus up to $200
    Trading with leverage involves risk.
    Ratings
    3.5 / 5
    3.7 / 5
    3.5 / 5
    3.3 / 5
    3.3 / 5
    3.5 / 5
    2.8 / 5
    3.5 / 5
    4.1 / 5
    4.3 / 5
    $100
    0.0 Lots
    CFTC, NFA
    Futures on Forex, Commodities, Cryptos, Indices, Interest Rates
    WebTrader, App
    ACH Transfer, Wire Transfer, Debit Card, Mastercard, Visa
    USD
    Go To Plus500 US
  9. 9
    UnitedPips
    40% Deposit Bonus
    Ratings
    2 / 5
    3.5 / 5
    3 / 5
    3.8 / 5
    3.5 / 5
    3.5 / 5
    2.8 / 5
    2.5 / 5
    0 / 5
    0 / 5
    $10
    0.01 Lots
    1:1000
    IFSA
    CFDs, Forex, Precious Metals, Crypto
    UniTrader
    PayPal, Credit Card, Debit Card, Perfect Money, Bitcoin Payments, Ethereum Payments
    USD
    Go To UnitedPips
  10. 10
    Moomoo
    Get up to 15 free stocks worth up to $2000
    Ratings
    4.7 / 5
    3.3 / 5
    3 / 5
    3.8 / 5
    3 / 5
    2.8 / 5
    3.8 / 5
    4.4 / 5
    4.6 / 5
    3.3 / 5
    $0
    $0
    1:2
    SEC, FINRA, MAS, ASIC, SFC
    Stocks, Options, ETFs, ADRs, OTCs
    Desktop Platform, Mobile App
    Wire Transfer, ACH Transfer
    USD, HKD, SGD
    Go To Moomoo

Here is a short overview of each broker's pros and cons

  1. FOREX.com - Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
  2. NinjaTrader - NinjaTrader is a US-headquartered and regulated brokerage that specializes in futures trading. There are three pricing plans to suit different needs and budgets, as well as ultra-low margins on popular contracts. The brand's award-winning charting software and trading platform also offers a high-degree of customization and superb technical analysis features.
  3. Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
  4. eToro USA - eToro is a social investing platform that offers short-term and long-term trading on stocks, ETFs, options and crypto. The broker is well-known for its user-friendly community-centred platform and competitive fees. With FINRA and SIPC oversight and millions of users across the world, eToro is still one of the most respected brands in the industry. eToro securities trading is offered by eToro USA Securities, Inc.
  5. RedMars - Launched in 2020, Cyprus-based RedMars offers competitive spreads on more than 300 instruments and leverage up to 1:500. Three accounts are available - Standard, Pro and VIP - serving a range of budgets and experience levels, with a fast and fully digital account opening process.
  6. IQCent - IQCent is an offshore binary options and CFD broker based in the Marshall Islands. The brand continues to offer a range of unique account types with bonuses and perks, including payout boosts, TradeBacks and free rollovers. With 100+ assets, around-the-clock trading and 98% payouts, the firm is popular with aspiring short-term traders.
  7. OANDA US - OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available for short-term traders, alongside flexible contract sizes and automated trade executions.
  8. Plus500 US - Plus500 is a well-established broker that entered the US market in 2021. Authorized by the CFTC and NFA, it provides futures trading on forex, indices, commodities, cryptocurrencies, and interest rates. With a 10-minute sign-up, a manageable $100 minimum deposit, and a straightforward web platform, Plus500 continues to strengthen its offering for traders in the US.
  9. UnitedPips - Operating since 2016 and based in Saint Lucia, UnitedPips is a non-dealing desk broker serving clients in over 137 countries. It specializes in CFD trading across around 80+ assets with high leverage up to 1:1000.
  10. Moomoo - Moomoo is an SEC-regulated app-based investment platform that offers a straightforward and affordable way to invest in Chinese, Hong Kong, Singaporean, Australian and US stocks, ETFs and other assets. Margin trading is available and the brand offers a zero-deposit account as well as several bonuses.

1ForYou Brokers Comparison

1ForYou Brokers Comparison
Broker Minimum Deposit Instruments Platforms Leverage
FOREX.com logo
$100 Forex, Stocks, Futures, Futures Options MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral 1:50
NinjaTrader logo
$0 Forex, Stocks, Options, Commodities, Futures, Crypto NinjaTrader Desktop, Web & Mobile, eSignal 1:50
Interactive Brokers logo
$0 Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral 1:50
eToro USA logo
$100 Stocks, Options, ETFs, Crypto eToro Trading Platform & CopyTrader -
RedMars logo
€250 CFDs, Forex, Stocks, Indices, Commodities, Cryptos MT5 1:30 (Retail), 1:500 (Pro)
IQCent logo
$250 Binary Options, CFDs, Forex, Indices, Commodities, Crypto Online Platform, TradingView 1:500
OANDA US logo
$0 Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA) OANDA Trade, MT4, TradingView, AutoChartist 1:50
Plus500 US logo
$100 Futures on Forex, Commodities, Cryptos, Indices, Interest Rates WebTrader, App -
UnitedPips logo
$10 CFDs, Forex, Precious Metals, Crypto UniTrader 1:1000
Moomoo logo
$0 Stocks, Options, ETFs, ADRs, OTCs Desktop Platform, Mobile App 1:2

FOREX.com

"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."

Christian Harris, Reviewer

FOREX.com Quick Facts

Bonus OfferActive Trader Program With A 15% Reduction In Costs
Demo AccountYes
InstrumentsForex, Stocks, Futures, Futures Options
RegulatorNFA, CFTC
PlatformsMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:50
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN

Pros

  • The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
  • FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
  • With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.

Cons

  • There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.
  • Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
  • FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
Visit FOREX.com
FOREX.com Review

NinjaTrader

"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."

Tobias Robinson, Reviewer

NinjaTrader Quick Facts

Demo AccountYes
InstrumentsForex, Stocks, Options, Commodities, Futures, Crypto
RegulatorNFA, CFTC
PlatformsNinjaTrader Desktop, Web & Mobile, eSignal
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:50
Account CurrenciesUSD

Pros

  • Low fees are offered, with $50 day trading margins & commissions from $.09 per micro contract
  • NinjaTrader is a widely respected and award-winning futures broker and is heavily authorized by the NFA and CFTC
  • Traders can get free platform access and trade simulation capabilities in the unlimited demo

Cons

  • The premium platform tools come with an extra charge
  • There is a withdrawal fee on some funding methods
  • Non forex and futures trading requires signing up with partner brokers
Visit NinjaTrader
NinjaTrader Review

Interactive Brokers

"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."

Christian Harris, Reviewer

Interactive Brokers Quick Facts

Demo AccountYes
InstrumentsStocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
RegulatorFCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM
PlatformsTrader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral
Minimum Deposit$0
Minimum Trade$100
Leverage1:50
Account CurrenciesUSD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF

Pros

  • IBKR continues to deliver unmatched access to global stocks with tens of thousands of equities available from 100+ market centres in 24 countries, most recently the Saudi Stock Exchange.
  • There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.
  • While primarily geared towards experienced traders, IBKR has made moves to broaden its appeal in recent years, reducing its minimum deposit from $10,000 to $0.

Cons

  • You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
  • TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
  • Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
Visit Interactive Brokers
Interactive Brokers Review

eToro USA

"eToro remains a top pick for traders looking for leading social investing and copy trading services. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer day traders."

Jemma Grist, Reviewer

eToro USA Quick Facts

Bonus OfferInvest $100 and get $10
Demo AccountYes
InstrumentsStocks, Options, ETFs, Crypto
RegulatorSEC, FINRA
PlatformseToro Trading Platform & CopyTrader
Minimum Deposit$100
Minimum Trade$10
Account CurrenciesUSD

Pros

  • eToro USA Securities is a trustworthy, SEC-regulated broker that is a member of FINRA and SIPC
  • Investors can access Smart Portfolios for a more hands-off approach, covering a range of sectors and markets such as renewable energy and artificial intelligence
  • The broker's Academy offers comprehensive learning materials for beginners to advanced-level investors

Cons

  • The proprietary terminal doesn't support trading bots and there are no additional stock market analysis tools
  • There's no MetaTrader 4 platform integration for traders who are accustomed to using third-party charting tools
  • Average fees may cut into the profit margins of day traders
Visit eToro USA
eToro USA Review

RedMars

"RedMars is the best fit for experienced day traders familiar with the MetaTrader 5 platform and based in the EU, where the broker is authorized by the CySEC. However, the threadbare education and research tools make it unsuitable for beginners."

Christian Harris, Reviewer

RedMars Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Cryptos
RegulatorCySEC, AFM
PlatformsMT5
Minimum Deposit€250
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:500 (Pro)
Account CurrenciesUSD, EUR

Pros

  • Getting started on RedMars is incredibly easy - you can be up and running in just a few minutes based on tests
  • The broker is one of a limited number of firms to offer an account specially designed for VIPs with premium support and invites to exclusive events
  • RedMars offers one of the best platforms for day trading, MT5, hosting 21 timeframes, dozens of analytical tools, flexible templates and algo trading

Cons

  • With just 300 instruments, RedMars offers a narrow trading environment, particularly compared to category leaders like BlackBull Markets which offers 26,000 assets
  • While RedMars' spreads are within industry averages, they don't offer a significant edge over the cheapest day trading brokers we've personally used, notably IC Markets
  • The no-frills trading environment offers little beyond the basics, with no Islamic account, PAMM account or copy trading.
Visit RedMars
RedMars Review

IQCent

"IQCent will appeal to day traders looking for a straightforward binary options and CFD trading platform with low fees, a range of accounts, and copy trading. Getting started takes less than 1 minute and a $250 deposit. "

Jemma Grist, Reviewer

IQCent Quick Facts

Bonus Offer20% to 200% Deposit Bonus
Demo AccountYes
InstrumentsBinary Options, CFDs, Forex, Indices, Commodities, Crypto
RegulatorIFMRRC
PlatformsOnline Platform, TradingView
Minimum Deposit$250
Minimum Trade$0.01
Leverage1:500
Account CurrenciesUSD, EUR

Pros

  • IQCent is one of the few binary options brokers that also offers a copy trading service for hands-off traders
  • The broker's 24/7 customer support is fast and reliable, responding within 1 minute during tests
  • CFD trading fees are competitive based on tests, including 0.7 pips on major forex pairs such as EUR/USD

Cons

  • There's no automated trading support for algo traders
  • The market analysis is very basic with limited technical summaries and insights from analysts
  • IQCent charges a punitive $10 monthly inactivity fee if you fail to place at least 1 trade per month
Visit IQCent
IQCent Review

OANDA US

"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."

Jemma Grist, Reviewer

OANDA US Quick Facts

Demo AccountYes
InstrumentsForex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)
RegulatorNFA, CFTC
PlatformsOANDA Trade, MT4, TradingView, AutoChartist
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:50
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD

Pros

  • Day traders can enjoy fast and reliable order execution
  • There's a strong selection of 68 currency pairs for dedicated short-term forex traders
  • OANDA is a reliable, trustworthy and secure brand with authorization from tier-one regulators including the CFTC

Cons

  • There's only a small range of payment methods available, with no e-wallets supported
  • It's a shame that customer support is not available on weekends
  • The range of day trading markets is limited to forex and cryptos only
Visit OANDA US
OANDA US Review

Plus500 US

"Plus500 US stands out as an excellent choice for beginners, offering a very user-friendly platform, low day trading margins, and access to the Futures Academy to enhance trading skills."

Michael MacKenzie, Reviewer

Plus500 US Quick Facts

Bonus OfferWelcome Deposit Bonus up to $200
Demo AccountYes
InstrumentsFutures on Forex, Commodities, Cryptos, Indices, Interest Rates
RegulatorCFTC, NFA
PlatformsWebTrader, App
Minimum Deposit$100
Minimum Trade0.0 Lots
Account CurrenciesUSD

Pros

  • The trading app provides a terrific user experience with a modern design, a clean layout and mobile-optimized charts
  • The Futures Academy is an excellent resource for new traders with engaging videos and easy-to-follow articles, while the unlimited demo account is great for testing strategies
  • The straightforward account structure, pricing model and web platform offer an easier route into futures trading than rivals like NinjaTrader

Cons

  • The proprietary platform is user-friendly but lacks advanced technical analysis tools found in third-party solutions like MetaTrader 4
  • Plus500 US does not offer social trading capabilities, a feature available at alternatives like eToro US which could strengthen its offering for aspiring traders
  • While Plus500 US continues to broaden its investment offering, it's currently restricted to around 50+ futures with no stocks
Visit Plus500 US
Plus500 US Review

UnitedPips

"UnitedPips is ideal for traders seeking leveraged trading opportunities, the security of fixed spreads, and the flexibility to deposit, withdraw, and trade cryptocurrencies - all in one sleek TradingView-powered platform."

Christian Harris, Reviewer

UnitedPips Quick Facts

Bonus Offer40% Deposit Bonus
Demo AccountYes
InstrumentsCFDs, Forex, Precious Metals, Crypto
RegulatorIFSA
PlatformsUniTrader
Minimum Deposit$10
Minimum Trade0.01 Lots
Leverage1:1000
Account CurrenciesUSD

Pros

  • Although being handed off mid-chat due to shift changes during testing was frustrating, customer support is generally good with quick, helpful responses, and 24/7 support via phone and email for regional teams is a definite advantage.
  • UnitedPips offers impressive leverage up to 1:1000 with zero swap fees or commissions, which can enhance potential returns for day traders and swing traders looking to control prominent positions with less capital.
  • UnitedPips’ platform performs well, with an intuitive design that will appeal to beginners, while the TradingView integration delivers powerful charting tools without overwhelming users, making it straightforward to execute trades efficiently.

Cons

  • UnitedPips lacks comprehensive research, while the educational content for beginner traders is woeful. Compared to brokers like eToro, which offers tutorials, webinars, and advanced courses, UnitedPips offers minimal resources to help new traders understand key concepts.
  • UnitedPips' selection of tradable instruments is still minimal, comprising a bare minimum selection of forex, metals and crypto. There are no equities, indices or ETFs, which may be a drawback for experienced traders looking for diverse opportunities.
  • Unlike brokers such as IG, UnitedPips is an offshore broker not regulated by any 'green tier' financial authorities, raising concerns for traders seeking assurance and protection under well-established regulatory frameworks.
Visit UnitedPips
UnitedPips Review

Moomoo

"Moomoo remains an excellent choice for new and intermediate stock traders who want to build a diverse investment portfolio. What really stands out is the broker's user-friendly app and the low trading fees."

Jemma Grist, Reviewer

Moomoo Quick Facts

Bonus OfferGet up to 15 free stocks worth up to $2000
Demo AccountYes
InstrumentsStocks, Options, ETFs, ADRs, OTCs
RegulatorSEC, FINRA, MAS, ASIC, SFC
PlatformsDesktop Platform, Mobile App
Minimum Deposit$0
Minimum Trade$0
Leverage1:2
Account CurrenciesUSD, HKD, SGD

Pros

  • The ‘Moomoo Token’ generates dynamic passwords for transaction security - a unique and helpful safety feature
  • There are reduced options contract fees from $0.65 to $0
  • There is no minimum deposit requirement making the broker accessible for beginners

Cons

  • There is no negative balance protection, which is a common safety feature at top-tier-regulated brokers
  • It's a shame that there is no 2 factor authentication (2FA), despite the other security features on offer
  • There is no phone or live chat support - common options at most other brokers
Visit Moomoo
Moomoo Review

What Is 1ForYou?

1ForYou aims to provide online payment access to everyone, especially those without traditional bank accounts.

Clients can control their cash, make payments and top up wallets without the need for an official bank account. A 1ForYou account can also be used to fund bus tickets, Wi-Fi, trading and everything in between.

All communications through 1ForYou are in English, and the primary currency used is the South African Rand (ZAR), making it particularly popular with South African traders.

Whilst there is no registered office address, the company appears to operate from South Africa.

Fees

1ForYou does not charge transaction fees for using their vouchers, so you can make deposits and withdrawals from your trading account without incurring additional fees from 1ForYou itself. However, some brokers may add their own fees.

Be sure to read the broker’s full terms and conditions to avoid any nasty surprises further down the line.

Although not an explicit fee, it’s useful to know that the 1ForYou vouchers themselves do have an expiration date, for example, three years. And, if a voucher is lost or damaged, it cannot be replaced or refunded for cash.

The 1ForYou mobile app is also free to download from both the Apple App Store and Google Play Store.

Speed

Transactions will normally be executed instantly with 1ForYou. Funds are credited to your account at the click of a button, so you can make the most of potential trading opportunities.

However, one aspect that will slow things slightly is the fact that online top-ups are not facilitated. Having to physically go to a store to purchase a voucher will obviously take longer than making an online transfer, which may lead to active traders missing out on short-term opportunities.

Security

1ForYou provides limited information on security measures for protecting client funds. The main security feature is the unique 16-digit voucher pin required to redeem vouchers.

All transaction and personal information is encrypted according to international standards, and only authorized employees have access to this information.

However, there aren’t any certificates issued by regulatory bodies, markers of compliance or any documentation shared that could be used to benchmark against standard measures. This is a cause for concern because it is difficult to gauge what protection, if any, is afforded to traders wanting to use it.

How To Deposit Using 1ForYou

To deposit into your account, you will need to purchase a 1ForYou voucher. Vouchers can be purchased in cash or with a credit or debit card and you do not need to have a registered bank account to do so.

Vouchers are available online at many South African retailers and several flash traders, including PEP, FLASH, Ackermans, Shoprite, Checkers, OK, Usave, House and Home, and Dealz. A full partner network can be found on the company’s website.

To top up a trading account using a 1ForYou voucher at a broker like XM, you’ll need to follow a few simple steps:

  1. Login to your broker account
  2. Navigate to the cashier section
  3. Select 1ForYou as your desired deposit method
  4. Enter your 16-digit voucher pin

Funds will be credited to your account almost instantly. For the time being, it is not possible to top up your account online, which is a feature we hope to see made available soon.

Pros & Cons Of Funding Your Trading Account Using 1ForYou

Pros

  • Facilitates refunds
  • Free mobile app download
  • Transfer between friends and family
  • No transaction or monthly subscription fees
  • iOS and Android (APK) app downloads available

Cons

  • Online top-ups are not available
  • Does not facilitate overseas payments
  • Only available to South African traders
  • Details regarding security measures are vague
  • Companies are not able to directly pay a salary into the app
  • Limited choice of 1ForYou brokers to choose between

Is 1ForYou Good For Day Trading?

If you are a trader based in South Africa, the 1ForYou network could be a convenient way to fund your trading account, especially if you don’t have a registered bank account. There are no set-up fees, deposits are credited instantly and the mobile app is convenient and easy to use.

We also like the ethos of the company and the gateway does a great job of connecting traditionally underserved, cash-rich markets with the online financial world.

However, there are downsides to consider. The fact that the company doesn’t offer online top-ups is a serious drawback. Some traders may also find limitations on overseas payments restrictive.

If we compare the 1ForYou gateway to the likes of PayPal or Mastercard, it is definitely more limited in the breadth of services offered. Moreover, the fact that it is only available in South Africa will be a sticking point for many day traders.

Overall, we’d say that the services offered are good but only suited to a small demographic and we wouldn’t necessarily recommend it over other payment methods.

FAQ

What Should I Do If My 1ForYou Voucher Is Not Working At My Broker?

If you have an invalid voucher, you need to recharge your pin or you have a question regarding reference numbers, contact the customer support team. Give them a call or send an email for assistance. The helplines are responsive and available during standard working hours.

Is It Cheap To Deposit To My Trading Account With 1ForYou?

Yes, 1ForYou does not generally charge any transaction fees, although some brokers may charge their own processing fees.