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KeyToMarkets Review, Rating and Comparison

KeyToMarkets Review, Rating and Comparison

RATING: 3 / 0 REVIEWS KeyToMarkets
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Trading Accounts

 

Account Type Minimum Deposit  Minimum trade size Maximum leverage Min.Spread
MT4 Standard $100 0.01 (micro lot) 1:500 From 1.0 pips EUR/USD
MT4 Pro $100 0.01 (micro lot) 1:500 From 0.0 pips EUR/USD + $8 commission
KTM Trader FX $10 000 0.10 (mini lot) 1:100 From 0.0 pips EUR/USD + $7 commission


There are 3 basic account types with KTMarkets: MT4 Standard, MT4 Pro and KTM Trader FX. As their names suggest, the MT4 Standard & Pro account holders access the forex market through the popular MetaTrader 4 Platform.


Those clients of KTMarkets who choose to trade through their proprietary platform, have the KTM Trader FX account available. It is targeted at experienced traders and also allows application of sophisticated automatically executed algorithms.


Furthermore, there is the KTM Trader Futures account, which is intended for trading futures, mostly performed by experienced traders investing in multiple exchanges.


The Company


Key to Markets (KTMarkets) is a NZ brokerage company offering access to the financial markets for institutional, corporate and private clients worldwide. KTMarkets is the trading name of Key to Markets NZ Ltd., which is fully owned by UK-based Key to Markets Ltd., a FCA-regulated company.


The broker offers No Dealing Desk trading in forex (40 currency pairs), CFDs (on indices, metals and commodities) and futures. Consequently, KTMarkets allow access straight to the interbank market with no requotes on orders.


Security of Funds


Key to Markets NZ Ltd. is a Registered Financial Services Provider under the New Zealand’s Financial Markets Conduct Act 2013 and as such is regulated by the Financial Markets Authority (FMA). FMA- regulated companies must comply with certain strict rules; however, a minimum capital requirement has not yet been introduced. Legislative amendments are to be adopted later this year, requiring Forex brokers to hold net tangible assets amounting to at least $1,000,000, which is a step further in tightening up the NZ regime, bringing it in line with those in the United Kingdom and Australia, where the minimum capital requirement is 730 000 EUR and 1 000 000 AUD respectively.


What is more, Key to Markets NZ Ltd. provide additional guarantee to clients’ funds, since the company is listed in the Financial Service Providers Register (FSPR) under No FSP296226 as a member of the NZ’s Financial Dispute Resolution Scheme (FDRS). FDRS is an independent dispute resolution scheme, awarding up to $200,000 in compensation to consumers. For comparison purposes, FCA-regulated brokers in UK are under the Financial Services Compensation Scheme, where the maximum compensation cover is £50,000 per person. Similarly, all CySEC-regulated brokers are members of the Investor Compensation Fund, which secures the claims of the covered Clients to a maximum of 20,000 Euros each.


Additionally, the mother company Key to Markets Ltd is regulated by the Financial Conduct Authority (FCA) and with the MiFID passport and is entitled to carry on its business throughout the EU, subject to MiFID regulations.


Trading Conditions


Minimum Initial Deposit
The minimum initial deposit required by KTMarkets is 100 EUR or USD. This is a reasonable amount to start trading with, however it may prevent the smallest market players from trading with this broker, taking into account that CMC Markets, a leading NZ-based brokerage, does not require any minimum deposit.


Commission & Spreads
As KTMarkets is a NDD broker, it offers variable spreads. MT4 Pro and KTM Trader FX account holders may trade within raw spreads as low as 0.0 on EUR/USD. The commission fee for the MT4 Pro account is $4 per lot per side and for the KTM Trader FX - $3,5 per lot per side.


The MT4 Standard account offers ECN execution and higher spreads due to the fact that holders are charged through the spread (1 pips mark-up), but this account is commission free.


As regards CFD trades, the average commission fees are typical, amounting to 0.10 EUR/AUD/USD or equivalent pip cost for most indices (such as AUS200p, EU50p, FRA40p), on energy and copper; $1 on silver and gold.


CMC Markets NZ, for instance, offers commission free forex trading with spreads starting from 0.7 pips, the typical one being 0.9 pips on EUR/USD, and charges an average commission amounting to 0.10 % on CFDs.

 

For real-time spread comparison, click here.

 

Leverage
The maximum leverage level offered by KTMarkets is 1:500, which is comparatively high, since most brokers usually offer leverage of up to 1:200 or 1:400. CMC Markets NZ also provides leverage up to 1:500, although in some jurisdictions there are limitations set on leverage, which are considerably lower – for instance, in USA the maximum leverage allowed is 1:50.

 

For more brokers, offering leverage of 1:500 or higher, click here.


Trading Platforms
Evident from the trading accounts described above, KTMarkets offers its clients two trading platforms – the popular MT4 and its in-house platform KTM Trader. Trading on the KTM Trader platform requires a significantly higher initial deposit ($10 000) and the maximum leverage level offered is lower (1:100).


However, KTMarkets’ proprietary platform offers advanced features hhand option to automatically execute sophisticated algorithms in C# / .NET. Moreover, solely this platform allows trading in futures. Despite this, probably many traders will prefer the industry standard Metatrder4, if they are used to trading on it, since it is the most popular trading platform, or simply because it involves higher leverage level and smaller initial deposit.


Both MT4 and KTM Trader are available for mobile devices.

 

Bonus and Rebates


Additionally, KTMarkets offers monthly rebates to Trader FX account holders, trading in high volumes (more than 50 lots per month), amounting up to $60 monthly.


Methods of Payment


KTMarkets’ clients are offered various modes of payment: Credit cards (Visa and MasterCard accepted), bank wire, SEPA, NETELLER, Skrill, postepay, WebMoney, Sofort, Neosurf, UnionPay, giropay, paysafecard.


Bottom Line


Key to Markets is a NZ-regulated NDD broker that provides trading in forex, CFDs and futures through both the popular MT4 and its in-house KTM Trader platform under competitive terms and conditions. To some things up, here are the advantages and drawbacks in relation to this broker:

 

Pros Cons
NDD environment  Lighter regulation (NZ)
High leverage  
Low spreads  
Choice of 2 trading platforms  
MT4 available  
Plenty of payment methods  

 

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Traders` reviews for KeyToMarkets

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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