This Key to Markets Broker review will guide you through its features, pros and cons, and much more to help you make an informed decision.
When looking for online trading, it’s crucial to choose a broker that offers reliability, security, and an effective trading platform.
Key to Markets Broker has made a name for itself as a trusted player in the trading world, providing access to various markets such as Forex, CFDs, and commodities, which will be addressed in this review.
History Key to Markets Broker
Established in 2010 and based in London, Key to Markets is a brokerage firm that offers a variety of services to traders around the world.
The company aims to provide an innovative and complete trading experience for institutional, corporate, and individual clients.
It operates under multiple jurisdictions including Mauritius, New Zealand, and the UAE.
With a commitment to competitive spreads and commission-free trading, Key to Markets has become a go-to broker for many traders.
Features of Key to Markets Broker
1. Trading Platforms
Key to Markets supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), two of the most popular platforms in the trading community.
These platforms are known for their advanced charting tools, customizable features, and expert advisors (EAs) for algorithmic trading.
2. Account Types
Key to Markets offers multiple account options such as the Standard Account and the Pro Account.
The Standard account caters to new traders and charges a 1-pip markup, while the Pro Account eliminates spread markups but charges a commission of 8 USD per traded lot.
3. Global Reach
While the broker is available in several countries such as Australia, Canada, the UK, and Singapore, it does not accept traders from the USA, North Korea, or Iran due to regulatory restrictions.
4. Leverage
Traders can benefit from leverage up to 500:1, depending on the account type, which gives them the ability to trade large positions with a smaller initial investment.
5. Customer Support
One of Key to Markets’ strongest selling points is its customer support. The broker has received positive feedback for its responsive and knowledgeable support team.
According to user reviews, clients appreciate the ease of contact and fast resolution of issues.
Pros of Key to Markets Broker
1. Key to Markets is regulated by the Financial Conduct Authority (FCA) in the UK, ensuring a secure and trustworthy trading environment.
2. The broker offers competitive spreads and does not charge inactivity or deposit fees, making it a cost-effective choice for traders.
3. With the Standard and Pro accounts, traders have flexibility based on their experience and trading style.
4. The broker’s customer service team is highly praised for its responsiveness and technical expertise.
Cons of Key to Markets Broker
1. While the FCA regulates the broker in the UK, it no longer holds a license in New Zealand, which raised concerns among traders from that region.
2. Certain countries, including the USA, are restricted from accessing Key to Markets’ services, limiting its global reach.
3. While the Pro account offers no spread markup, it charges a commission on trades, which could be less appealing for low-volume traders.
What Traders Are Saying? (Customer Review for Key to Markets Broker)
When it comes to customer experiences, Key to Markets receives a mix of positive and negative feedback.
Positive Reviews
Many users have praised Key to Markets for its user-friendly platforms and excellent customer support.
For example, one anonymous trader shared, “The account opening process was seamless, and I was able to start trading in no time. The customer service was quick to help me with any questions I had.”
Negative Reviews
On the flip side, there are concerns, particularly regarding the company’s licensing status in New Zealand.
One user stated, “I was disappointed to learn that Key to Markets lost its license in New Zealand. It makes me question the future stability of the platform.”
How to Get Started with Key to Markets Broker
Getting started with Key to Markets is simple and involves just a few steps:
1. Open an Account
Visit the Key to Markets website and click on “Open a Real Account.” You’ll be asked to fill in some personal details such as your name, email, and phone number.
2. Verify Your Identity
After registering, you’ll need to verify your identity and proof of residence. You can upload documents like a government-issued ID and a utility bill. This step is crucial for account activation.
3. Make a Deposit
Once verified, you can deposit funds into your account. Key to Markets accepts multiple payment methods such as credit cards, bank transfers, and online payment options like Skrill and Neteller. The minimum deposit for both the Standard and Pro accounts is 100 USD.
4. Start Trading
After depositing funds, you can start trading on the platform using MT4 or MT5. Both platforms offer advanced tools for technical analysis and charting.
Frequently Asked Questions
1. What is the Minimum Deposit Required to Open an Account?
To open an account with Key to Markets, the minimum deposit required is 100 USD.
This applies to both the Standard and Pro account types, making it accessible for traders who are just starting as well as those with more experience.
A relatively low minimum deposit can help new traders enter the market without a large initial investment.
2. Can I Use MetaTrader on Key to Markets?
Yes, you can use MetaTrader on Key to Markets. The platform fully supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), two of the most popular trading platforms in the world.
With these platforms, traders have access to advanced tools, charting options, and a range of indicators to help make informed trading decisions.
3. Is Key to Markets Regulated?
Yes, Key to Markets is a regulated broker. The Financial Conduct Authority (FCA) in the UK oversees and ensures that the broker operates fairly and transparently.
FCA regulation provides a level of trust and security, as this authority has strict standards that brokers must follow to protect clients’ interests.
4. Does Key to Markets Charge Inactivity Fees?
No, Key to Markets does not charge inactivity fees. This means you won’t face additional charges if you decide to take a break from trading.
This is beneficial for traders who may not be active every month, as it helps them avoid unnecessary costs while keeping their accounts open.
Conclusion
In this Key to Markets Broker review, we’ve examined the broker’s offerings, including its regulated status, available account types, and customer feedback.
With competitive spreads, solid customer service, and a global reach, Key to Markets is a good option for traders looking for reliable and cost-effective trading solutions.
The broker’s limited regulation in some regions and its licensing issues in New Zealand might concern some traders.
Whether Key to Markets is right for you depends on your individual trading needs and location.
With its wide array of features, user-friendly platforms, and strong customer support, Key to Markets is certainly a solid choice for both beginner and experienced traders.