1000X

Introduction

Digital trading is evolving so rapidly that there has been a surge of platforms that provide high leverage and a variety of cryptocurrencies to trade. One such platform is 1000X, which includes trading products related to commodities as well as other assets, mostly cryptocurrency. 1000X is a new broker that caters to traders who want to utilize high amounts of leverage with an integrated social trading component, as well as other innovative features. 1000X has positioned itself as a company that will provide a simplified, web-based trading experience focused on decentralized finance (DeFi) assets.

Although the company has only been in business for a relatively short time (two years) at the time of writing, has nonetheless gained attention by offering fixed leverage at 1:1000, social copy trading and no deposit trading credit. Because of these special features as well as the lack of regulation and transparency within the company, potential clients should be cautious before opening an account with this brokerage. In this article, I will provide you with more information about the background and history of 1000X, but there are also some details regarding features, trading conditions, fees and the overall reputation of the broker in the market.

Background and History

1000X began operations in 2021 as a company called 1000X Global Limited, which was incorporated in Saint Vincent and the Grenadines. The website 1000x.live was registered on October 21, 2021 with the latest update issued in November 2024. 1000X has its corporate offices in Hong Kong, and has two known office locations: Kowloon Bay and Wanchai.

There is a certificate of incorporation that is dated 2022 displayed on the website, but there isn’t much other information related to the founders of 1000X or how the company was developed. For the branch of trading businesses, transparency related to the regulations of the broker and the overall business history is an important consideration.Features And Offerings

1000X has focused on building a cryptocurrency and commodity trading platform because they offer FX trading pairs that include commodities such as GOLDUSDT and crypto's. They do not offer traditional Forex, indices, stocks, bonds, options, or ETFs; therefore, 1000X has a narrow scope of the financial markets. However, it appears that the intention behind limiting themselves to this type of product is to stay true to the DeFi space.

Social And Copy Trading

One of the things that make 1000X unique is that they have a social trading ecosystem for traders. Through 1000X, you can participate within the "Follow Trade" program, which allows you to follow trade leaders' trades. When you enter this program, the follow trade leader will receive a commission from each of the followers' trades. As a follow trade leader, you will also have the opportunity to receive commissions from the trading activities of individuals you invite to join. By creating a referral program for inviting others to join, 1000X is attempting to develop a community of active traders and promote community growth.

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Additional Tools

At 1000X, you will have access to an "Investor Link" for tracking your investment portfolios as well as a "No Deposit Credit" program that allows you to receive a credit for trading purposes. Even though you will not be able to withdraw your credit from the account, you can trade with that credit and not have to make a deposit.

Regulatory Compliance And Licensing

Many traders look at regulatory authority as the most important part of evaluating a broker. For 1000X, there is no formal financial regulation and no regulatory body recognizes them for the operation of their platform. They are registered in Saint Vincent and the Grenadines and their headquarters are in Hong Kong so they are not regulated by authorities such as SFC or any other international body for brokers.Since there are no regulations for the type of trading offered by 1000X, there is a significantly larger risk connected to trading on this platform because there is also no outside governing body to watch over them to ensure they comply with any financial regulations or to protect the money of clients who have accounts with them.

Regulatory body

License #

Status

SFC (Hong Kong)

N/A

Not licensed

Saint Vincent and the Grenadines Authorities

N/A

Registered entity only and has no financial license

Trading Conditions and Platform Features

1000X provides a VERY high fixed leverage of 1:1000 on all trading pairs versus the average for this industry which provides a relatively high risk/loss potential for all traders and is suited mostly for experienced traders who are very comfortable with using aggressive trading methods.

1000X has flexible lot sizes and margin amounts allowing you to limit your exposure to risk by setting your margin to 25%, 50%, 75%, or 100%. Prices/spreads are taken from third-party liquidity providers and will be displayed by their providers and the specific pricing/spread or minimum deposit required are not detailed publicly.

Platform Features

You will be trading on the 1000X platform which is a web-based trading platform that can be used on both Desktop and Mobile browsers, and will allow you to place market & limit orders and provide you with live tracking of your account, equity, margin, and floating profits. Additionally, the platform has a feature that will allow you to chat with the trader(s) you are trading with, and provide you with separate areas for FX and Perpetual trading (ie, futures trades).

Importantly, the 1000X platform does not useThe platform is being offered on a basis 'as is' – which does not guarantee operational stability or uninterrupted service.

Features

Description

Available Leverage

Fixed - 1: 1000

Market Instrument Types

Cryptocurrencies; Commodities (Perpetual and FX) pairs

Order Types Available

Market; Limit; Stop Orders

Access to Platform

Web Based (Desktop & Mobile Browsing).

Mobile App

Not Available

Margin Level Available

Adjustable - 25, 50, 75, 100%

Fee Structure

1000X has applied a charge of 1.5% to ALL deposits and withdrawals. This is deducted from your total amount automatically. Other charges such as additional fees to trade or inactivity fees are not disclosed on the platform.

The 'No Deposit Trading Credit' is intended for ONLY use to trade against, and cannot be withdrawn for any other purpose (adds complexity to the overall fee and credit structure).

Fee Type

Charge

Other Notes

Deposits

1.5%

Automatically charged and deducted from the deposit amount

Withdrawals

1.5%

Automatically charged and deducted from the withdrawal amount

Commission on Trading

Not Specified

Limited information available

Inactivity Fees

Not Specified

Limited information available

User Reviews / Market Reputation

User reviews of 1000X are minimal and come primarily from users in Thailand, generally praise the ease of access to digital assets and the provision of customer support through online ticketing systems. However, due to no regulation, limited product offerings, and a lack of customer support channels, there are considerable concerns regarding user experience.

Due to its unregulated nature and limited transparency, 1000X is viewed by many as an extremely high-risk platform. Offering no live chat or telephone support means that in volatile markets, the inability to receive immediate assistance can be critical.

Recent Developments

Since late 2024; the domain and registration for 1000X has not changed or transferred, therefore, they are presumed to be operating. No major developments, upgrades of their system, new product launches, or further regulatory issues have been reported for 2024-2025, with their focus still on the existing offerings.

Conclusion

1000X consists of a specialized broker for high-risk trading in cryptocurrency and commodity markets through the use of social trading features to attract clients. They offer fixed leverage at 1:1000, and unique programs such as copy trading and 'No Deposit Trading Credit' as ways for users to obtain additional access to the trading markets.

Due to the lack of regulated oversight, limited transparency and a lack of suitable user reviews, it is highly encouraged that prospective clients approach with caution. Traders who are looking for a regulated platform that will provide the highest level of customer service with a broad number of trade instruments might find that 1000X would not be their best fit. If traders are comfortable with transacting with a high-risk broker and only want to trade DeFi assets, then 1000X could be worth considering, recognising the inherent risks involved.