1Broker Review

Overview

1Broker was a platform that allowed Bitcoin users to participate in real-world markets directly with their Bitcoins. There were no conversions to fiat currencies like U.S. Dollars necessary. 1Broker offered trading on over 40 selected commodity, stock, index and forex markets. You can read our full 1Broker review below.

Domain Seized

In September of 2018, the 1Broker.com domain was seized by the Federal Bureau of Investigation in accordance with a seizure warrant issued pursuant to 18 U.S.C. §§ 981 and 982, for violations of 18 U.S.C. § 1956 (money laundering), 15 U.S.C. § 78ff (willfully operating as an unregistered broker/dealer of securities), and 7 U.S.C. § 13 (willfully operating as an unregistered futures commission merchant), upon a probable cause finding by the United States District Court for the District of Columbia.

The official announcement from the US Securities and Exchange Commission (SEC) stated: “The SEC alleges that a Special Agent with the Federal Bureau of Investigation, acting in an undercover capacity, successfully purchased several security-based swaps on 1Broker’s platform from the U.S. despite not meeting the discretionary investment thresholds required by the federal securities laws.”

In response, the 1Pool Team released the following statement on the homepage of 1Broker.io – a read-only, back-up version of the 1Broker.com domain – with the preface “1Broker is closed”. You can read the full announcement below.

Banking

On 1Broker you were only able to deposit and withdraw using Bitcoin. Withdrawals were fully automated and happened instantaneously. Deposits required two network confirmations, which usually took between 10-40 minutes.

Customers were encouraged to make sure to double check their deposit and withdraw addresses to prevent any mistakes, since all payments were irreversible. All customer deposits and withdrawals could be found in the “Transaction Log”.

Customer Support

The quickest customer support method available to 1Broker customers was via email. General support, bug reports, and technical questions were to be directed to support@1fox.com, while Business and press inquires were to be directed to office@1fox.com.

Customers could also reach out to the company on their official Twitter and Facebook pages. Although, 1Broker had a Telegram group, customer support was not offered there. Support agents were fluent in both English and German.

History

The name 1Broker came from the format of traditional Bitcoin addresses (public keys). These addresses consist of 26-35 alphanumeric characters and begin with the number 1. Initially, 1Broker also planned to use vanity addresses, which means that a 1Broker deposit address would have looked like this: 1BrokerYstWetqTFn5Au4m4GFg7xJaNVN2. Because of privacy-related problems, the company decided against this implementation, however.

1Broker was operated by 1pool Ltd., a corporation registered in the Republic of the Marshall Islands. 1pool Ltd. also operates 1fox.com, which “took a break” from operations following the same timeline as 1Broker.

1Broker Alternatives

There are a handful of Bitcoin trading platforms in operation today that are comparable to 1Broker. You might find our guides to the best forex sites and best cryptocurrency exchanges to be quite useful. Similar sites include SimpleFX, Oanda, Forex.com, and IG Forex.