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Key Markets Review - is it scam or safe?

Key Markets Review - is key-markets.com scam or good forex broker?

RATING: 1 / 7 REVIEWS Key Markets
Key Markets is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts and Conditions

 

Trading account Min. deposit  Min. trade size Max. leverage Spread
Bronze  $250 0.01 1:300 From 2.8 pips
Silver  $2 000 0.01 1:300 From 2.5 pips
Gold   $10 000 0.01 1:300 From 1.5 pips
Platinum  $50 000 0.01 1:300 From 0.1 pips

 

Offshore brokerage Key Markets offers its clients with a choice of four account types and also an access to the ever-popular MT4. Nonetheless, we don’t recommend investing with this broker, so if you are considering opening an account with them, be sure to read this review first.

 

 

Key Markets Advantages

 

Trading on the good old MT4

The presence of the MetaTrade4 platform is a good sign in any broker’s offer. Most traders know this trading software well and enjoy using it.

 

 

Key Markets' MT4 in demo mode. Click to view larger.

 

The MT4 is easy to use, yet reliable, and offers all kinds of features and persks: top-notch charting with a lot of indicators, customizable trading environment, Expert Advisors for automated trading, and more.

 


>> Check out the best MT4 Brokers <<

 

 

Wide range of CFDs, solid leverage

Key Markets is a forex and CFD broker, offering around 50 currency pairs, crypto CFDs and other assets, ranging from commodities and precious metals to indices and stocks. Besides, clients of this broker may use leverage of up to 1:300.

 

Keep in mind that while higher leverage may help you score good profit with a relatively small deposit, it is also associated with a significant risk of losing your funds much faster.

 

 

Key Markets Disadvantages

 

An offshore broker

Key Markets is one of the thousand offshore brokers, whose credibility is very limited. The company behind the brand, Key Markets Ltd., is registered on the Marshall Islands, where forex brokers don’t face any of the stringent requirements properly regulated brokerages do. These requirements provide significant assurance for the security of clients funds.

 

Offshore brokers, however, are not obliged to report regularly to any authority, nor to conduct external audits. Furthermore, they are not required to hold clients’ funds in segregated accounts, to possess certain minimum capital in order to prove their financial stability, nor to arrange a compensation scheme in the event of insolvency or default.

 

That is why we advise our readers to avoid offshore and unregulated brokers as a general rule.

 

Uncompetitive trading costs

If we take a look at Key Markets’ spreads, as announced on their website, it turns out that the only account where the trading costs are competitive, is the Platinum one. This account type, however, requires an initial investment of $50 000. The spreads on all the other accounts are above the industry’s average, which is in the range of 1.0 - 1.5 pips on EUR/USD. For further information and comparison on spreads, check out the below link

 

 

>> The lowest spread forex brokers <<

 

 

Conclusion

 

Key Markets is an offshore MT4 broker with limited credibility, whose offer is not at all tempting. Most offshore brokers are fraudsters seeking to cut financial and regulatory corners and this one does not seem any different.

 

Overall, it is always best to choose among forex brokers that are duly regulated by the UK’s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), or the Australian Securities and Investments Commission (ASIC).

 

 

>> FCA-regulated forex brokers <<

 

 

the FCA requires frequent reporting on activities and enforces a lot of rules. When looking at it from a security of funds perspective, the most important ones are the following: segregation of client accounts, and the coverage of the FSCS compensation scheme. All FCA-regulated brokers are required to participate in the Financial Services Compensation Scheme (FSCS) - a system, which guarantees clients’ trading capital against broker bankruptcy. If you trade with an FCA-regulated broker which happens to become insolvent, you will be able to claim 90% of your account value, up to £50,000 from the FSCS.

 

To sum up the above:

 

Pros Cons
Trading on the good old MT4 An offshore broker
Wide range of CFDs Uncompetitive trading costs
Solid leverage  

 

Latest news about Key Markets
No news about Key Markets . Check back later.
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Traders` reviews for Key Markets

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Watch out for Key Markets

Today I received a phonecall from Mark Redford from Key Markets telling me that I owned a trading account with them. (Never asked for one). He offered me to recover the money I had lost with other scam traders like ECNPremium and OlympusMarkets. But after 15 minutes talk and sharing my desktop with Anydesk, he asked for data from my account. As I refused he went over to another tactic and guided me to go to their website and use my creditcard to depostit $261.
Because in order to get my money back,he said, there had to be some money in my trading account. What a scam. Of course I did not and ended the conversation. I have been learning now. Be warned this are all scammers.KeyMarkets, Olympus Markets and ECNPremium.

Maria Agnes Verboom 05/20/2019

Telephone calls

I have never met a ruder group of people as this lot. Up to 10 calls a day and don’t understand the word no. When I hang I get accused of being rude. My personal advice is to not deal with these people.

Rene 05/15/2019

Clearly Scammers

Cold called me and tried to get details from me. Tried to ask a few questions first but the woman then got abusive and ended by saying I will end up homeless,then hung up.

Paul Griffiths 05/15/2019

scammers?

I invested £250/$329 in key-markets. after going through a prolong
"identification" system, I realised the whole system was too complex for me. I requested, very politely, to cancel my account.
Since then, I am literally being "bounced" from pillar to post. I have been advised to contact my broker (never had one) or account manager( never had one)
Despite requesting cancellation, I was bombarded with calls attempting to continue with the account - they just would not take NO for an answer.
I am now at an impasse with Key-Traders, who are clinging on to my modest sum of £250 PLUS a further £10 they removed to commence the "TRADING"
Any suggestions, please?

roger vaughan 05/14/2019

Scammed

Key markets: invested 250 euro but now...
i don't see any money. Nobody is calling
Me....and nobody pays back the money
All they do is lying lying lying.
Don't trust George Crest, Alexis Baldwin
Or Andy Richard!!!

Simons 05/03/2019

KeyMarkets withdrawal /trading

Key markets is a scam, I deposit $500 and this money stay one month on there site and the broker or accountmanager was doing nothing with my money . So after a month I ask my money back and they say : Ít will be in a couple of days on your account, but the money never arrived. When the account manager heared
that I ask my money back he ask me if I can deposit $10000 otherwise he can not work with me. He ask if he can enter my computer with anydesk and he lead me to a site from England to get a loan. He put all my information that was required for the loan and he get my ID and other documents out of my emailbox without asking and he said to me here you can get your loan and then we can start to trade. I refuse of course and then he gave my file to an other accountmanager Lana Wood and she start trading without my permission because I already ask 5 times to send my money back. And in one day my money was gone and this lady promised to send my money back, but she trade with it after a month. And she loss all my money in one day and I said clearly to her not to trade with my money. So don't even think about it to trade there, I did not receive a software MT4 and I was looking on the internet where I could trade fairly and I saw bitcoinrevolution and I fill in all my name and adress and email and they saay welcome back Ronald, so I login (I saved it) and I saw keymarkets on that site trading with my money. That's the reason why I did not receive a software. They have different companies and you always loss your money. THEY ARE SCAMMERS, DON'TTRADE THERE, BECAUSE YOU DON'T SEE YOUR MONEY BACK.

Ronald van Prehn 05/01/2019

Confused

I received a call from Key-Markets yesterday informing me that I had a balance of $250, I certainly didn’t deposit Any money with them, in fact I’ve never heard of them.
Anyway I told them I wasn’t interested in trading at all to which they offered to refund me the money.
Apparently it’s a complicated process that needs me to be on my device while they are on the phone!
I played along for about 10 mins and then told them I had to go.

They wanted me to change my personal details and save them on their site which is not easy.

They are apparently calling me back on Tuesday to complete this “refund”

Has anyone else had this?

Thelma Watson 04/27/2019
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