Key to Markets is an independent online brokerage that specializes in ECN services to clients around the world. It was first established in 2010 and currently has offices in New Zealand, the United Kingdom, and the United Arab Emirates.
However, while Key to Markets does get its share of positive user reviews, there is also an equal number of negative ones around as well. In this review, we will take a brief look at some of the features and services that this online brokerage provides and see if it does hold up to its reputation or not. In addition, we will investigate into its history to see if the broker is a safe choice for traders.
Key to Markets: Services and Offerings
While Key to Markets offers the following services to clients residing in almost any part of the globe, some offers may differ depending on the location of the client. Services are also blocked for residents in the United States, New Zealand, Iran, and North Korea due to legal restrictions.
• Trading Instruments
Key to Markets boasts over 200+ financial instruments which include a wide array of Forex pairs, Commodities, CFDs, Stocks, Shares, Indices, Metals, Energies, and Bonds.
• Account Types
Key to Markets currently offers its clients two main trading accounts – the MetaTrader 4 Pro account, and the MetaTrader 4 Standard. In addition, Key to Markets also features a demo account that allows clients to test the features of its trading platform in a risk-free environment.
Both account types provide access to the true ECN execution model, allowing for variable spreads from an interbank liquidity pool.
The MetaTrader Pro account can be opened with a minimum $100. It offers raw market spreads and allows clients to trade at competitive commissions of €6-8 per lot and trades can have a maximum leverage of 1:500. Minimum trading volume is 0.01 lots.
The MetaTrader 4 Standard account offers the same features as the MetaTrader 4 Pro account with the only difference is that it is commission-free with a spread mark-up.
• Trading Platform
Key to Markets mainly incorporates the MetaTrader4 (MT4) trading platform by MetaQuotes. MT4 is one of the leading trading platforms in the industry, most notable for its easy-to-use interface, lightning-quick execution time, and flexible customizability. It features real-time market quotes as well as over 80 pre-installed technical indicators, charting tools, and automated trading options, to name a few.
It is available for desktop, web browser, and mobile for iOS and Android.
• Payment Options
Payment options include credit/debit cards, bank wire transfers, and online payment services such as Neteller and Skrill. Deposits and withdrawals can also be done with cryptocurrency. However, Key to Markets does not accept third-party payments.
Accounts can be opened with USD, EUR, and CHF as base currencies for their trading account.
Withdrawals are usually processed within the same day, though it could take more if requests are done outside of business hours. Bank transfers usually take one to three business days to process, though some options can take a few seconds.
There are no fees for deposits; however, bank processing fees may apply depending on which service has been chosen. Online payment services may charge additional fees for deposits or withdrawals.
Most of the details listed above may often be subject to change. Therefore, for updated information, please look into the broker’s official website.
Key to Markets: Is it safe?
Key to Markets’ main office in Auckland, New Zealand is owned and maintained by the company Key to Markets Ltd, a European group with partners around the world. It is regulated by the Financial Conduct Authority (FCA) in the United Kingdom.
In addition, the company holds a MiFID passport, allowing the brokerage to operate in all European countries subject to its regulations.
In Dubai, its head office is regulated by the Dubai Multi Commodities Centre.
All client accounts of Key to Markets are kept in segregated accounts to prevent the brokerage from using its funds for other obligations or if the brokerage were to be insolvent.
Key to Markets: Conclusion
In conclusion, Key to markets is a reputable broker that offers an impressive line of tradeable assets. Its strict policy on regulation also preserves a safe and secure trading environment and showcases an industry-standard trading platform with a FIX API solution.
However, Key to Markets can be further improved with more tools options when trading as well as educational materials. The online brokerage could also increase its client-base with some cryptocurrencies in their listings as the demand for digital coins are starting to gain popularity.
Otherwise, Key to Markets is a safe and decent broker to start trading with.