Read our full Key to Markets review below.
WHAT IS KEY TO MARKETS?
Found in 2010, Key to Markets is a respectable forex and CFD brokerage firm with its headquarters located in the United Kingdom. This online broker is regulated by the FCA and FSC.
At Key to Markets, clients can trade a range of trading instruments, such as Forex, CFDs, indices, shares, commodities, and cryptocurrencies.
The broker also offers a variety of trading platforms to its traders, including the MetaTrader4.
INTRODUCTION
Key to Markets is one of the online trading platforms that have branches in different parts of the world. The company originates from New Zealand and has branches in different parts of the world such as Europe as well as the middle east.
The headquarters of its operations are in the United Kingdom. This brokerage firm offers different kinds of accounts which include individual trading accounts, corporate as well as institutional trading accounts.
Besides, they also make different trading instruments readily available to its customers who come from all parts of the world.
When you create an account with this company, you will have the unique opportunity to trade different instruments ranging from foreign exchange trade, CFDs as well as futures, and other kinds of instruments which they make available in their platforms.
The company is based in the UK and has branches in different parts of the world is highly regulated. This is good news for those who are afraid of what could happen to their funds and investment should the company go under.
Key to Markets make use of the most advanced trading software and tools. Furthermore, they provide the most efficient customer support as there are different ways of contacting them should you have an issue or any inquiry to make.
The pricing is transparent and affordable. There is absolutely nothing to worry about when you create a trading account with this platform. Everything about them is transparent.
The company is owned by a firm called Key to Markets NZ Ltd. This means that this broker is a subsidiary of the company. It has its location in the United Kingdom, and this means that laws guiding its operation are determined by the countries they operate. Therefore, one can consider this brokerage as a multinational company.
Clients would not have any problem using this system because it offers them the best when it comes to trading platforms and technology. There are lots of other fantastic features that make them great, and you will see most of them during this review.
PROS & CONS
Pros
- The company is regulated by different authorities since they have branches in different parts of the world
- They offer the best NDD environment
- The broker also makes available the most attractive spreads
- They offer different kinds of payment methods which make things easier for their customers
Cons
- This company does not allow clients from the US
- There is no provision for live chat
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TRADING INSTRUMENTS
When you are choosing a broker, you must consider a lot of factors and one of them is the trading or market instruments available with that broker. The company is lagging in the provision of sufficient trading instruments.
At their disposal is the following trading instruments that clients can simply select from and launch their trade.
Forex
This stands for foreign exchange. It is the most traded of all the financial instruments. Key to Markets make it easy by making provision for more than one hundred currency pairs for its customers to select from.
These currency pairs include the major as well as the minor currency pairs.
CFDs
This instrument is as popular as forex. It is the second most traded after the foreign exchange currencies. The interesting thing here is that this company makes several of them available for you to choose from.
The leverages and spreads here are the best you can get from this market.
Commodities
Key to Markets also provide commodities for their clients to transact on. There are a lot of them out there that clients can choose from.
The most popular in the list of the commodities which traders can select from include metals, energy as well as soft commodities.
All you need to do is to search their website and read research and news to discover the most profitable one to invest your money at any time.
You must trade responsibly and trade with caution. Ensure that you read the market before entering. Exit when you think that market is getting hot.
Other instruments or trading opportunities which this broker makes possible for its teeming thousands of clients from all parts of the world include the ability to trade with NDD executions.
Besides that, the company trades on shares of major establishments located in different parts of the world.
The stocks are in different parts of the world especially those that are doing well in Europe and other parts of the world such as the US, French, Spanish as well as German stocks, and others. The choice to make is yours. Ensure that you read the market before you make your investment.
Most importantly, this broker is one of those that make cryptocurrency trading available to its clients. As of the last count, there were five such currencies that members can transact on.
The five digital currencies available here include Ethereum, Bitcoin, Litecoin, Ripple as well as Dash coin and bitcoin cash.
TRADING PLATFORMS
Perhaps the most important aspect of the broker is the type of trading platforms they provide. This is the software from where traders trade and exit trade. Such software must be user-friendly.
The company uses the most popular MT4 or MetaTrader 4 software. It is the major trading platform, and you can gain access to this platform through different devices of your choice.
The most popular device which you can use to get access to it includes the following desktops, laptops, tablets, as well as mobile devices. You can even trade the market on the go. This platform is one of the best and it is user-friendly.
MT4
The most interesting thing about this software is the number of features available which can help traders to profit from the market. It can function actively among some trading devices such as those mentioned above.
The platform also comes with the most interesting and helpful tools that can help traders to progress and make gain from the market.
Here are some of the features of the trading platform:
- It makes it easy to use Expert Advisors or EAs to program, backtest as well as execute trades.
- This program also comes with real-time charts and these are professionally formulated
- There is also the availability of a quote board on the system
- Most importantly, they provide different kinds of technical analysis indicators and together with their studies
- Furthermore, it includes new indicators which come with MQL language
- The system also makes hedging orders possible
- Apart from that, the broker introduced exceptional features to the MT4 like
- ECN backed transparent pricing method
- Instant funds deposits and withdrawals that are not associated with any unknown fees
- The system also makes for the spread of 0.0 pips
- There is also the leverage of 1:500 and many more others.
API FIX
This is another trading platform introduced by the broker and it is not available for the traders. Before you can gain access to this unique trading platform you must first qualify for it. To qualify you must have the following
- A minimum of five thousand euros deposit
It makes for 500 lots of RT and that is monthly. When it becomes difficult to reach this aspect of the requirement, then there should be a payment of five hundred euros fee.
This system is meant for those traders or investors that use proprietary algorithms to gain instant access to the broker’s server. It also makes it easier for them to have access to the price data feed as well as the ability to prevent the use of any intermediation software.
When this becomes possible that is not use software, it becomes easier for the clients to have instant access to the market by using its own software or program.
Furthermore, the broker makes it easier for its clients to run the Myfxbook Auto Trade system. The importance of this is that it is now easier for such a trader to link the MT4 platform to the system they want.
It does not need any kind of installation or downloads. The best system to use this is selected manually.
ACCOUNT TYPES
Key to Markets make available different account types and these account types are tailored to the needs of individuals. This means that while registering for an account, you must choose the type that is compatible with you.
Currently, there are two account types of the company is offering which traders can select from.
MetaTrader 4 Pro Account
This is one of the accounts that clients can choose from. The account has its own characteristics that make it different from the other kinds of accounts.
The features of this account include the following:
- Making available the minimum trade size of 0.01 lot
- It does not provide for any limit when it comes to the maximum trade size
- The account type also makes provision for raw spreads
- Furthermore, it makes for the minimum account opening balance of one hundred dollars
- The maximum leverage it allows is 1:500
There is also the margin call of 120 percent as well as stop out of one hundred percent. There are several other characteristics of this account, but these are the most important ones.
This Metatrader standard account shares similar features with the Pro account. The major difference here is in the spread. The spread here is 1.0 pip as well as raw spread.
Most importantly, this trading company provides its members who are traders access to its two PAMM Accounts like the Money Manage (Master Trading) account and the Commission Account.
The thing that divides the two account types is simple. Money Manager account makes it easy for money to pool while the other one which is the Commission Account makes for fees to be paid and the trader can withdraw funds directly.
Moreover, the broker provides clients access to the Key to Saving Account. This account as you can get from the name is for saving purposes.
Money can be deposited here by traders and the money to be deposited here include unused margins especially those that are eligible to earn interests.
Furthermore, the system makes it possible for clients to open another kind of account that is known as an Islamic account. This is for traders who follow the Islamic belief.
The account can be accessed through any of the account types which includes the MT4 Pro and Standard Account. When you create the account, you must make a request formally for a swap-free or Islamic account.
HOW TO OPEN AN ACCOUNT
To open an account with Key to Market is easy. All that you do is to get to the website and feel the application form. The form filling process is in different sections and the first section, you are to provide the basic information about yourself.
When you complete the form, you will get an important email from the firm. It is called an important email because of the information which is contained which is very important. Information you get from the mail includes your PIN.
This will also contain the email confirmation link which you must click. When you clock that link then you would be required to complete the application process.
When you click the link then you get to the second leg of the account creation process. Here you would be required to present the means of identification as well as the proof of residence.
When you provide these two important pieces of information, then you would proceed to the completion of the questionnaire. The essence of this questionnaire is to evaluate your level of knowledge about the market as well as your trading experience.
When you complete all the information required from you and you upload all the requested documents, those things would be verified by the company and wait for the approval of the application.
When your application is finally processed, and you are approved then you would be required to fund your account to start live trading.
DEMO ACCOUNT
A demo account is also necessary, and you learn how to trade before you can begin a live trading account. The company makes it easier for traders to train and learn about the market before they begin to trade with their real trading money.
The broker would provide you with a simulated fund that you can use to trade and learn how the platform works and master the system.
SOCIAL TRADING AND COPY TRADING
Social trading and copy trading are available with some brokers. It is not certain that the broker makes it possible for their clients to copy with other traders and learn from other traders.
This is the way to help traders to learn fast and make money from the system. There is no indication that this company makes this possible to their clients as there is no information about that on the broker’s website.
COMMISSIONS & FEES
When it comes to commissions and fees, Key to Markets offers the best spreads. Traders on the MT4 Pro can trade on a raw spread and this starts from 0.0 pip when they trade on the major currency.
Besides the company also charge $4 on its MT4 Pro account. When on the other hand you have the MT4 Standard account, you will not be charged.
Whether you want to create an MT4 or Standard Account there would be a minimum deposit of one hundred dollars. Furthermore, members must know the issue of the swap fee. This applies to accounts that are held overnight. If you open an Islamic account, this does not apply.
LEVERAGE
The maximum leverage the company can offer is 1:30 and that is the ESMA requirements. These are the requirements for major currencies. For the minor currencies, they demand 1:20 and for commodities, the charge is 1:10.
The strict restrictions are because of the heavy losses that come when one loses because of high leverage. There is no doubt that higher leverage offers the opportunity to make more money, but what if the trade does not go the way you want.
If you trade on the Dubai FXCC branch, you can have higher leverage of 1:200. This is based on the kind of financial instrument that you want to trade on.
If you have MT4 Standard and MT4 Pro, you can have access to 1:500 leverage when you apply for that.
WITHDRAWALS AND DEPOSITS
This broker provides different methods of funds deposit and withdrawals. If you want to make a deposit, you can consider the following methods which the company makes available, and they include the following:
Use of cards
This involves credit and debit cards. The use of the card can encounter restrictions in some countries.
Skrill
If you are outside of Europe, you can think of using Skrill. The other methods they make available include Sticpay and Neteller.
If you use any of the methods discussed above to pay money to your account, you would also be subjected to a fee of 2.5 percent. The best way to avoid the payment of such fees is to use a bank wire to transfer money.
When you make transfers through bank wire, there would be no commission charged. The payments can be made in either USD or EUR.
There are also different ways of withdrawing money from the system which the broker makes available for clients. If you choose Skrill or Neteller, money can reach your account within 48 hours. When you use any of these two methods, you would be charged a 1 percent withdrawal fee.
If you decide to withdraw your money through bank wire transfers, there are no associated fees, and the money can reach the destination within the next two business days. To process withdrawals through bank wire it must be USD or EUR.
CUSTOMER SERVICE
Depending on the country you are trading from, the company provides different methods of contacting the customer service department.
If you are a trader based in the UK, you can contact them through telephone. For customers in New Zealand, they can also contact them through telephone.
If you want, you can choose the email option to contact them. The major problem here is that the company does not make provision for live chat. In the same way, there is no provision for frequently asked questions.
SAFETY AND SECURITY
The issue of security or safety of your fund is no problem. This is because Key to Markets is based in the UK and that means that they are FCA regulated.
The regulatory authority does not allow brokers under its control to misbehave, and the same thing applies to this broker.
The authority demands the brokers segregate traders’ funds from that of the company. This is the issue here. there is nothing that can make the broker used to trader’s money for operational purposes.
Moreover, this broker is regulated in other parts of the world like New Zealand. All these mean a lot for the safety of investors’ funds. Should the company go down, your fund would be intact.
The procedures they have on the ground and strict policies put in place by various countries they are operating imply that it is safe and secure to do business with them.
CASHBACK
The regulatory authorities do not allow this kind of policy for now. The broker does not offer any cashback policy as there is no information about that on the company website.
RESEARCH
Research is very important if you want to be a successful trader. Apart from the information you get elsewhere, brokers must provide you with useful research information.
Unfortunately, there are no research tools available here except the free VPS service. It is a method that makes it possible for traders to carry out an automated service. It is not a research instrument as such.
EDUCATION
Education is necessary for this kind of business. You should learn the trade before you invest. Unfortunately, Key to Markets does not provide any educational tool.
GLOBAL AWARDS
Currently, there is no record, or any global award as non is available on the website.
PROMOTIONS
There is no promotional activity the company is embarking on now. When such becomes available, it will be shown on the website.
CONTESTS
Key to Markets do not organize any contest. There is no record of it.
SAFE OR SCAM?
It is already said that the company is safe and not a scam. You can confidently do business with it. Your funds in their hands are one hundred percent protected. They are under FCA and other regulatory bodies’ control.
CONCLUSION
Key to Markets is one of the most reliable brokers on the internet today. They offer the most competitive spreading, price, and provide the best trading conditions.
When it comes to trading technology and the safety and security of your investment, there is nothing to worry about. They provide the most useful trading instrument in the world which is the MT4.
