Key to Markets Review |
|
| 📅 Year founded |
2010 |
| 📈 Multiple top-tier regulation |
Yes |
| 📍 Headquarters |
London, United Kingdom |
| 🌍 Country of regulation |
United Kingdom / Mauritius |
| ✅ Regulators |
FCA / FSA |
| 📈 Execution Type |
Market Execution |
| 💰 Minimum Deposit |
$100 USD |
| 🛡️ Negative Balance Protection |
Yes |
| 📉 Trading Platforms |
MetaTrader4 / MetaTrader5 |
| ☪ Islamic account |
No |
| 📉 Trading Instruments |
Forex / Indices / Commodities / Shares |
| 📱 Mobile trading |
iOS / Android / Windows |
| 💳 Payment Types Accepted |
Debit and Credit Cards / Bank Wire Transfer / Skrill / Neteller / Sticpay / UnionPay / AliPay |
| 🎮 Demo Account |
Yes |
| ⓒ Copy Trading |
Yes |
| 🎁 Bonus Offer |
None |
| 💰 Account Currencies |
USD / EUR |
| 📈 Minimum Trade |
0.01 Lots |
| 📈 Account Types |
PAMM / MAM / STP / ECN |
| 📈 Margin Trading |
Yes |
| 📈 Trading fees |
Low |
| 📈 Inactivity fee |
Yes |
| 💰 Withdrawal fee |
Yes depending on withdrawal methods |
| ☎ Customer Support |
09:00 – 18:00 GMT weekdays |
| 💰 Max. Leverage |
500:1 |
| ✔️ Hedging Allowed |
Yes |
| ✔️ Scalping Allowed |
Yes |
| 💰 Commission |
Zero on Standard / $8 USD on Pro |
| 💰 Spreads |
From 0.0 pips |
| 💰 Leverage |
Flexible |
| 💰 Currency Pairs (Total Forex pairs) |
65 + |
| 🔢 Number of clients |
|
| 🥇 Instruments Offered |
180 + |
| 📙 Education | Webinars / Various Articles |
WHAT IS KEY TO MARKETS?
Found in 2010, Key to Markets is a respectable forex and CFD brokerage firm with its headquarters located in London, United Kingdom. This online broker is regulated by the FCA and FSC in Mauritius.
At Key to Markets, clients can trade a range of trading instruments such as forex, indices, commodities and shares.
The broker also offers a variety of trading platforms to its traders including the world renowned MetaTrader4 (MT4) and its upgrade, MetaTrader5 (MT5).
INTRODUCTION
Key to Markets was founded in 2010 and has since established itself as a broker on the forefront of innovation with a reputation for providing excellent service.
The headquarters of its operations are in the United Kingdom, but they are also regulated in Mauritius by the FSA.
Key to Markets offers its clients over 180 trading instruments, which is not a massive range, however, for those interested mainly in forex trading, there are over 65 currency pairs to choose from, which is an impressive offering when compared to other brokers in the market.
The broker also makes the world renowned MT4 and MT5 trading platforms available to its clients. These platforms are regarded as the best in the industry and when used in tandem with Key to Markets’ superb trading conditions, it becomes a trading environment geared towards a trader’s success.
Further additional features which underline the broker’s safety include segregated client funds and their subscription to the Financial Services Compensation Scheme (FSCS) which will be fully discussed later on in this review.
As a starting point, lets dive into the pros and cons of this broker to gain a better understanding of the services on offer.
PROS & CONS
PROS
- The broker is regulated across various jurisdictions and multiple regulatory bodies.
- Minimum deposit is only $100 USD.
- The broker offers raw spreads.
- There are multiple options for deposits and withdrawals.
- Key to Markets offers a free VPS service.
CONS
- The broker does restrict clients from certain jurisdictions such as the USA.
- There is no provision for a live chat feature which is a great tool for customer service.
TRADING INSTRUMENTS
When you are choosing a broker, you must consider a variety of factors and one of them is the trading or market instruments available with that broker. Although Key to Markets has a limited range of instruments available, their forex offering is superb.
Clients of this broker can select any of the following instruments to begin trading with:
Forex
This stands for foreign exchange. It is the most traded of all the financial instruments. Key to Markets offers over 65 currency pairs for this traders to choose from, with spreads starting from 0.0 pips on their Pro accounts.
Indices
Key to Markets offers its clients the ability to trade on indices using CFDs to execute these trades. There are over 15 indices for their clients to choose from and these are available at tight spreads and low commissions.
Some of the indices available include the Japan Nikkei 225 and the US’ S&P500. These indices represent great instruments especially for newer traders, due to them being less volatile than other instruments.
Commodities
Key to Markets also provide commodities for their clients to transact on. With this broker, there are over 12 commodities to choose from between precious metals, energies and soft commodities.
Due to this broker providing No Dealing Desk (NDD) executions, traders can expect fast order executions and low latency rates on their orders.
Commodities are good options for traders who follow macroeconomic and political trends, as well as those who have an appetite for higher volatility. Some of the commodities available from Key to Markets include gold, silver, palladium, platinum and natural gas.
Shares
The broker offers over 60 different shares that traders can choose from, across four different markets. These include the US, German, French and Spanish markets. Trading shares requires traders to do their research on companies and the pay offs from successful trades can be well worth it.
Some shares available at Key to Markets include Amazon, Apple, Adidas and BMW. These shares are all traded in the form of CFDs.
TRADING PLATFORMS
Another very important aspect of the broker is the type of trading platforms they provide to their traders. This is the software from where traders open and close their trades. Such software must be user-friendly.
Key to Markets provides the most well-known and reputable trading software in the world to its clients, in the form of MetaTrader4 (MT4) and its upgrade, MetaTrader5 (MT5).
This software is easily downloadable and is compatible with your desktop, be it Windows or Mac, as well as your mobile phone in the form of an app which is available from the Apple App Store or the Google Play Store.
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 across multiple devices as mentioned above.
The platform provides a variety of features to its traders, including some of the features listed below:
- It makes it easy to use Expert Advisors or EAs to program, back test and execute trades.
- This program also comes with real-time charts and these are professionally formulated.
- There is also the availability of a quote board displayed on your charts.
- They provide different kinds of technical analysis indicators to assist traders.
- The system is reliable and offers good customer support.
MT5
This platform is considered the upgrade on MT4, and of course comes with even more high quality features than those available on MT4. There are more technical analysis indicators available as well as over 21 different timeframes from which to choose.
This platform also provides access to trading communities via their software, making copy trading and learning from experienced traders, easier than ever.
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. This is specifically reserved for institutional traders and will not be covered in this review.
Myfxbook
This is a copy trading platform where traders can easily set up automated trading on their MT4 or MT5 accounts. This is ideal for new traders or those who do not have enough time to research the markets and trade on their own.
ACCOUNT TYPES
Key to Markets make different account types available to their clients and these account types are tailored to the needs of individuals or institutions. This means that while registering for an account, you must choose the type of account that is most compatible with you and your trading needs.
Currently, there are two account types which can be selected by traders:
MetaTrader4 and MetaTrader5 Standard Account
The Standard account is easy to understand and straightforward to use. There are no commissions charged on trades placed when using this account type, as they are built into the spread. The spread will be the interbank market raw spread + 1.0 pip (this is essentially 1.0 pip above the raw spread).
This account type uses the ECN execution system with leverage of up to 500:1 is available. The account has a margin call of 120% and a stop out of 100% (meaning your trade closes automatically once there are no funds left in your account). The minimum deposit required for this account type is $100 USD.
MetaTrader4 and MetaTrader5 Pro Account
The Pro account has very similar features to the Standard account in terms of the margin call, stop out, available leverage and the minimum deposit. The big difference comes in the commissions and spreads on this account type.
On the Pro account, the broker offers raw spreads and charges commission of $8 USD round turn per lot, which is comparable with competitors in the industry. The raw spreads make entering and exiting trades at the right time a lot easier than what would be the case on a Standard account.
*From our research, it seems as though there is no Islamic (swap-free) account available at Key to Markets.
HOW TO OPEN AN ACCOUNT
To open an account with Key to Markets is easy to do. On the broker’s website, there is an application form which must first be filled in by the potential new client.
Once this is done, the broker follows the KYC (Know Your Customer) system which requires you to provide a range of personal information including identity documents and proof of residence amongst others. The faster you provide these documents, the faster you can begin trading.
Once these documents are verified by the broker, you will be able to select your account type, deposit funds and then begin trading with Key to Markets.
DEMO ACCOUNT
A demo account is also necessary, especially for new traders. This broker provides access to a free demo account which can be used before depositing funds with the broker. This enables you to see experience their trading conditions and learn about the market.
Demo accounts are also useful for traders who want to back test potential new strategies before implementing them onto their live accounts.
SOCIAL TRADING AND COPY TRADING
Social trading and copy trading are available with most brokers these days and Key to Markets is no different. The broker allows copy trading through their own tab on the website called “Social Investing” where they refer you to different tabs with multiple social and copy trading options.
As discussed earlier, setting up an account through Myfxbook also makes copy trading easy and accessible to anyone.
From the broker’s website, it is clear that social and copy trading are a big part of their service offering.
COMMISSIONS & FEES
When it comes to commissions and fees, Key to Markets offers some of the best spreads and commissions around.
Due to their ECN account offering, they are able to provide great spreads and low latency rates, together with lightning fast execution speeds.
On the Standard account, the commissions are built into the spreads so you will not be charged on top of that. On the Pro account, commissions are charged at $8 USD per round turn lot, at a raw spread. This offers great value for money.
Further fees applicable include swap-fees which apply to any positions held open overnight.
LEVERAGE
Leverage is a tool used by brokers to allow clients to trade with more capital than they have in their account. This can be a fantastic tool when the market is in your favour, as your profits are multiplied, however it can also have the same effect in the opposite direction, meaning your losses are multiplied too.
The maximum leverage available is usually dependant on two factors: the trading instrument selected and the jurisdiction in which a trader resides, due to the regulatory bodies’ regulations.
At Key to Markets, leverage is flexible and can easily be changed according to your needs, while the maximum leverage available is up to 500:1.
WITHDRAWALS AND DEPOSITS
Key to Markets provides a variety of different withdrawal and deposit methods to its clients, making their accounts easily accessible to a variety of clients.
Some of these methods include debit and credit cards, bank wire transfers, Neteller, Skrill, Sticpay, UnionPay and AliPay.
On some methods, there are withdrawal and deposit fees applicable but these are limited to around 1-2%. Further information on which methods can be found in a table on the broker’s website.
CUSTOMER SERVICE
Depending on the country you are trading from, the company provides different methods of contacting the customer service department.
Some of these methods include email, telephone contact and a query form found on the broker’s website.
Unfortunately, the broker’s customer service is only available from 09:00 – 18:00 on weekdays which is very limited compared to other brokers in the trading industry.
A further feature we at Brokersuggest.com would love to see added is a live chat feature. This make communication with the broker easy and accessible, while simple problems are easily solved without a long wait.
SAFETY AND SECURITY
Safety and security is a very important aspect to consider when choosing a broker to be your trading partner in the industry. Fortunately, Key to Markets is highly regulated across multiple jurisdictions, meaning this broker has high standards that it needs to comply to. The broker successfully does so and thus clients can have peace of mind regarding the safety of their funds.
Having been around for over a decade, the broker also has significant experience as well as a good reputation for being transparent and safe to do business with.
As the broker is regulated with the FCA, they are required to form part of the Financial Services Compensation Scheme (FSCS) which protects clients’ funds up to the value of GBP 85 000.
Additionally, Key to Markets also keeps their clients’ funds segregated from their own, meaning your funds are never used to carry on the operations of the business.
PROMOTIONS
According to our research, the broker does not currently offer any promotions or bonus programs, however this can always change and it is recommended that you check their website regularly to see if this has changed.
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.
Key to Markets does offer some research material under their “Analysis” tab where you can see their Weekly Market Updates, Market Analysis and Thoughts & Insights. These are available in the form of articles.
Additionally, the research tools on the MT4 and MT5 platforms can also be utilised when trading with this broker.
EDUCATION
Educational tools are always necessary for beginner traders as this can help you develop as a trader and become successful in this industry. Unfortunately, the education offering from Key to Markets is not as extensive as it could be, considering other brokers have introduced trading academies and dedicated teams to aid their clients.
The tools on offer include webinars and articles under various sections such as “Learn to Trade Forex” and “Learn to Trade CFDs”.
GLOBAL AWARDS
In recent years, Key to Markets have won multiple awards for their excellent service offering, including some of the following:
- Best Forex ECN Broker – Global (2022) – Global Forex Awards.
- Best Forex Trading Platform – Asia (2022) – Global Forex Awards.
- Best Forex Trade Execution – Global (2021) – Global Forex Awards.
- Best Forex ECN Broker – Global (2021) – Global Forex Awards.
SAFE OR SCAM?
According to the research we have conducted on this broker, we can confidently say that this broker is safe to do business with.
They are regulated across multiple jurisdictions by a variety of entities including the FCA in the UK, who are notorious for being a strict regulatory body. Key to Markets complies with the FSCS as mentioned above and also keeps clients’ funds segregated from their own, which is always a good sign of a trusted and transparent broker.
Their existence for over a decade in the industry also helps as they have an extensive track record of good compliance.
CONCLUSION
Key to Markets is one of the most reliable brokers in the industry today. As already mentioned above, they are safe and reliable as a trading partner while offering fantastic service to their clients.
The only drawback is their lack of research and educational content, but in all honesty, it is not difficult to find such material on your own, so this drawback is not a material one. Instead, you can look at the positives of this broker such as their ECN accounts which provide tight spreads and lightning fast execution speeds. Minimum deposits of only $100 USD make this broker easily accessible.
From the above review, it is clear that Brokersuggest.com can highly recommend Key to Markets as the right brokerage partner for you.
