Key To Markets Review – Is This Broker Trustworthy?
Established in 2010 Key to Markets brand brings together three brokerage firms headquartered in Mauritius, the UK and New Zealand. All of them have licenses from the regulators of the states in which they are registered. The broker provides services in many countries around the world, but this does not include America, Iran, North Korea, and so on. As stated on the official website, the firm provides financial services to traders and is known for its innovations. In this Key To Markets review we will go through all the main characteristics and features of the broker and find out whether Key To Markets can be trusted or not.
Key To Markets Regulation and Registration
Having a license is an utmost priority for every Forex broker in the industry. Key To Markets is registered in Mauritus, regulated by the Financial Services Commission of Mauritius as an Investment Dealer, with the licence number being GB19024503. We should point out that compared to CySEC or the FCA, this is a license that does not guarantee maximum security and reliability to its clients. Since Key To Markets has been in the industry for almost 10 years, it managed to attract the attention of numerous clients. Key To Markets has also the registered address indicated at the bottom of the website. Overall, while the company is licensed and regulated in Mauritus we still have some question marks regarding its reliability, considering that there are no tangible reviews over the Internet from customers.
To create a trading account, you need to select the button “Open real account” on the top panel of the site and click on it. A form will appear, you must fill it out. Data can only be entered in English, Chinese, Italian and Spanish. At the end, you should read the terms of the user agreement and tick the appropriate box. Login to your Key to Markets account will be available after registration is complete.
Key To Markets – What are Available Trading Accounts?
Key to Markets has two types of trading accounts:
- MT4 STANDARD: deposit – from 100 dollars/euro, minimum trade size – 0.01 lot, no restrictions on the maximum trade size, leverage – up to 1:500, no commission;
- MT4 PRO: deposit – from 100 dollars/euro, minimum trade size – 0.01 lot, unlimited maximum trade size, leverage – up to 1:500, commission – $0.08/€0.06.
Both accounts allow news trading and scalping without any restrictions.
A demo account will help you to study the platform’s capabilities and trading conditions of the broker. It is designed specifically for virtual trading, so it does not require real money replenishment. Basically, if you are new to trading you will find this feature useful, because even if you lose some money in trading, it will not affect your balance.
One thing that we can point out is that there are no words about an Islamic account which is strange because numerous brokers offer this possibility to customers who practice Islam.
Key To Markets Trading and Non-Trading Fees
Key To Markets Forex broker charges a deposit fee which is 2.5%. For withdrawals, they also have a 1% fee. As for bank transfers, there are no such fees present on the broker’s website. Commissions vary between 0-8$. At the same time spreads start from 1 pip. There are no inactivity fees whatsoever present on the website. Even if you will not trade for some time, the broker won’t charge you money.
Key To Markets Trading Assets and Conditions
Key To Markets Forex broker offers to trade stocks, indices. Also available for trading are gold, American sugar, coffee, orange juice, cocoa. You can trade on the platform with cryptocurrency, there are five digital assets in total: Bitcoin, Ethereum, Ripple, Litecoin and Dashcoin. In this regard, we can say that Key To Markets offers a diversity of trading assets from Forex to cryptocurrencies. Depending on your preferences, you could trade each of these instruments. They come with different advantages and disadvantages. Conditions for these trading assets are different. Some might have increased spreads and leverage, while the other ones might offer modest conditions.
When we talk about trading conditions on the website, as we have noted above, the maximum leverage the broker offers is 1:500. An increased rate of leverage can be a detriment to a trader, because of the fact that you might lose money instantly.
Key To Markets Trading Platforms
The broker offers to trade on the Metatrader 4 platform from any device that runs on Windows, Apple OS and Android operating systems. Users will find a link to download the platform on the website. We should point out that there is no MetaTrader 5 platform available, which is an improvement of its predecessor. In addition, we could not find information about WebTrader as well. While MetaTrader 4 comes with all essential features traders need during the trading process, we think it is unexpected that the broker does not support other platforms on its website.
Key To Markets Deposits and Withdrawals
Two currencies are available for customers to replenish the deposit: dollars and euros. You can deposit funds to your account by bank transfer, the commission will be $20, and the term for replenishment can take up to four days. Euros can be deposited using SEPA transfers. No commission is charged, and the term is from one to two days. It is also possible to replenish the deposit using a bank card or through an electronic wallet. Commission – 2.5% of the amount, processing date – instantly.
Here are interesting details about deposits and withdrawals on Key To Markets:
- Bank transfer – no commission, processing- 1 day;
- Electronic payment systems – commission 1% of the amount, processing – 1 business day.
- You can withdraw money only to those details from which the deposit was made.
Key To Markets Educational Section
There is no available educational section on Key To Markets. The broker does not offer webinars and other educational material to its customers, which is a massive disadvantage for the broker. There is a separate blog where both registered and non-registered users can find additional information but we think it is not enough. Forex brokers try to offers as many webinars and additional educational material to their customers as possible. In such a way, traders can learn more about Forex trading and improve their experience. In short, the website’s educational section is not available and provides almost no value to clients.
Key To Markets Customer Support
Key To Markets FX broker only has the following methods available for contacting: e-mail and an online form. Both of these methods require some time before your question is answered. Live chat is not available which is normally the best option for contacting support, because all answers to your questions are returned immediately. We need to mention that the support is available in several languages, however depending on the number of requests and the severity of your problem it might take some time before your issue is finally resolved.
After reviewing the main details of Key To Markets FX broker we have come to the conclusion of our overview – can Key To Markets be trusted? We do not recommend opening a deposit on the broker’s platform only after studying the legal documents on its website. If you want to know the opinion of experienced users about the company, go to thematic forums, but only experienced specialists can provide you with competent advice and give practical recommendations regarding trading with Key to Markets. First of all we are suspicious of the license the company has and in addition, there are deposit fees, which we find awkward. In short, we tell our users not to register on this broker’s website.