Key to Markets review

Introduction

Key to Markets is an independent brokerage firm that provides access to the financial markets for Institutional, Corporate, and Individual Clients. The platform boasts a decent range of products and dedicated customer service. According to its mission statement, the brokerage firm aims to offer its clients a complete and innovative trading experience.

Established in London in 2010, Key To Markets (UK) Limited has since expanded its operations globally. The firm now has additional entities in New Zealand and Mauritius, known as Key To Markets International Ltd and Key To Markets NZ Ltd, respectively. In the UAE, they operate under the name Key To Markets DMCC. Part of a group of companies from England, Key to Markets Limited is regulated by the FCA, ensuring a secure and regulated environment for traders.

One of the standout features of Key to Markets is its commitment to providing competitive spreads with commission-free trading on Forex and CFDs. Traders can access these global markets through the popular MT4 and MT5 platforms, which offer user-friendly interfaces and powerful tools for analysis.

This Key To Markets Forex broker review will show you all there is to know about this platform in order to make an informed decision.

Supported Countries

Key To Markets presents itself as a global brand, welcoming traders from numerous countries across the world. The platform accepts traders from countries such as Australia, Thailand, Canada, the United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, or Qatar.

However, there are limitations to Key To Markets’ global reach. Residents of the USA, Iran, North Korea, and other countries with restrictions are not allowed to use the firm’s services. To ascertain if your country is among the restricted ones, you can directly contact the Support team at Key To Markets.

Customer Service Rating

Key to Markets brokerage firm has garnered an impressive rating score of 4.8 stars out of 5 on Trustpilot, based on a total of 151 reviews. The platform has received praise from many reviewers for its excellent service and execution, along with timely deposits and withdrawals. Users particularly appreciated the efficient help function and excellent support. The technical abilities of the support team have also been commended, solidifying the broker’s reputation.

Additionally, account opening was reported to be a seamless and swift process, enhancing the overall user experience. Reviewers highlighted the smooth and hassle-free nature of deposits and withdrawals, reinforcing the broker’s reliability in handling financial transactions. Prices and execution were also noted to be commendable, providing traders with the necessary tools to navigate the markets effectively.

However, amidst the overwhelmingly positive reviews, a noteworthy concern surfaced in 2022. The New Zealand supervisory body (FSCL) confirmed that Key to Markets no longer holds a license with them, and this change has been in effect since 2018. Understandably, this news has raised concerns among users from that region regarding regulatory coverage.

Key to Markets Forex Trading Platforms

Key to Markets offers clients the freedom to choose their preferred trading platform, providing a tailored trading experience to suit individual needs:

• MetaTrader 5: The MetaTrader 5 (MT5) Web platform empowers traders to access the Forex, exchange, and futures markets through any browser and operating system. With just an Internet connection, users can dive into the world of trading. MT5 boasts an advanced Market Depth feature, tick chart, and Time & Sales information, providing a comprehensive view of the markets. The platform equips traders with extensive analytical tools for thorough price analysis and forecasting. With the capacity to open up to 100 charts, monitoring various financial instruments becomes effortless. MT5 impresses with 21 timeframes, from one minute to one month, and over 80 built-in technical indicators, enabling detailed price analysis. Traders can also access more indicators through additional MetaTrader 5 services like Code Base, the Market of Applications, and the Freelance service.

• MetaTrader 4 (MT4): Renowned for its intuitive interface and automated trading capabilities, MetaTrader 4 (MT4) is a favorite among FX and CFDs traders. The platform provides real-time pricing, historical data feed, and nine timeframes, empowering traders with valuable insights. Its user-friendly dashboard and customizable charts make it suitable for both beginners and seasoned experts. MT4’s popularity lies in its compatibility with Expert Advisors (EAs), which are automated trading systems and custom indicators. The platform enables programming, back-testing, and execution of automated trading systems (EAs) through the MQL language. Traders can explore new custom indicators and utilize alert programming to enhance their trading strategies.

Type of Trading Accounts on Key to Markets

Key to Markets caters to its clients’ unique needs by offering tailored account solutions. For traders seeking a personalized experience, they have two types of accounts to choose from: the PRO account and the Standard account.

• MT4 & MT5 STANDARD Account: This account option covers a wide range of markets, including FX, Indices, Commodities, and Shares. Traders can start with a minimum trade size of 0.01 lot and enjoy the freedom of no maximum trade size limitations. The spread is set at 1.0 pip, supplemented by ECN raw spread for enhanced trading conditions. A notable advantage of the Standard account is the absence of any commission fees, allowing traders to optimize their trading strategies without extra costs. To get started with the MT4 & MT5 STANDARD account, a minimum opening deposit of €/$100 is required. Additionally, scalping and news trading activities are unrestricted, empowering traders to explore various trading styles without limitations.

• MT4 & MT5 PRO Account: Similar to the Standard account, the PRO account encompasses FX, Indices, Commodities, and Shares markets. With a minimum trade size of 0.01 lot and no maximum trade size limit, traders have ample flexibility in their trading activities. The main distinction lies in the spread based on ECN raw spread, ensuring competitive pricing and execution. The PRO account includes a €0.06 / $0.08 Round Turn per Microlot (0.01) commission. This translates to €6 or $8 per traded lot round turn, with €3/$4 each for opening and closing a trade. With a minimum opening deposit of €/$100, traders can access the MT4 & MT5 PRO account and explore their trading strategies in a robust environment. As with the Standard account, scalping and news trading are allowed without limitations, allowing traders to execute their preferred trading approaches.

Trading Denominations on Key to Markets

Key to Markets endeavors to accommodate traders’ preferences by offering the flexibility to denominate their accounts in three major base currencies: EUR, USD, and GBP.

However, it’s essential to acknowledge that some competitors offer a more extensive range of base currencies, providing traders with even greater flexibility and catering to a wider global audience.

Company Structure

Key to Markets Group Ltd is a reputable company registered in the United Kingdom under company number 12400287. It operates under the Financial Conduct Authority (FCA) regulation, ensuring a secure and compliant trading environment for its clients.

The brokerage firm extends its reach beyond the UK, with Key to Markets International Limited established in Mauritius under company number 169425. This entity is regulated by the Financial Services Commission of Mauritius as an Investment Dealer, further enhancing the broker’s commitment to regulatory standards.

Key to Markets goes the extra mile in catering to its non-EU clients, offering payment processing services through Skrill and Neteller wallets via Key to Markets International Limited. Key to Markets has earned recognition and acclaim through several prestigious awards.

In 2022, it was honored with the Best Forex ECN Broker – Global award at the Global Forex Awards, building upon its previous win in the same category the year before. Additionally, the broker secured the Best Forex Trading Platform – Asia accolade in 2021 from the Global Forex Awards.

Key to Markets Forex Licenses and Regulatory Compliance

Key to Markets is regulated across multiple jurisdictions with a robust regulatory framework, providing traders with confidence and security in their trading endeavors. Key to Markets is also subject to oversight by:

• Financial Conduct Authority (FCA) in the United Kingdom with register number 527809.

• Financial Services Commission of Mauritius with Licence number GB19024503.

Key to Markets Forex Customer Protection

Key to Markets positions itself as a broker subject to the oversight of multiple regulatory bodies, highlighting its commitment to upholding high industry standards. This regulation provides traders with a sense of security, knowing that the platform operates within established guidelines and guidelines set forth by these authorities.

Key to Markets offers a dispute resolution scheme to further bolster customer confidence, providing a formal structure for clients to raise and resolve any grievances or disputes. Key to Markets also utilizes segregated accounts to separate clients’ funds from the company’s.

Upon inspection of the refund and return policy page, it becomes apparent that the broker appears to prioritize safeguarding its interests rather than providing comprehensive coverage for its clients. This aspect could be a concern for traders who seek a broker with a strong focus on customer protection and satisfaction.

Customer Service

While Key To Markets offers various features and services to traders, one notable downside is the lack of live chat support. Unlike many other brokers that provide this as a standard feature, Key To Markets recommends relying on their email addresses for any inquiries or concerns.

For traders seeking more immediate assistance, there are alternative support options available. The UK office provides a telephone contact option at +44 20 3384 6738, available during UK time from 9 am to 6 pm.

Additionally, traders can explore the Online contact form on the Contact Us page. There is also no FAQ page to answer clients’ questions quickly.

Trading Information

Key to Markets provides traders with a clear breakdown of trading hours for various instruments, offering valuable insights into market availability. Precious metals and natural gas are accessible from Monday to Friday, operating from 01:00 to 23:59 GMT+2. Crude oil trading starts at 03:00 and closes at 24:00 GMT+2, presenting ample opportunities for traders interested in energy commodities.

For clients keen on exploring US stocks, trading hours are set from 16:30 to 23:00 GMT+2. Meanwhile, European stocks can be traded from 11:00 to 19:30 GMT+2. Soft commodities and indices, however, follow different schedules as they vary depending on the respective stock exchanges.

The Standard account features a commission-free model but adds a 1 pip markup on top of the raw spread. In contrast, the Pro account offers raw spreads but charges a commission of $0.08 per micro lot.

Key to Markets Forex Leverage

Key to Markets provides traders access to a high leverage limit of up to 1:500, applicable to both account types. This feature offers traders the potential to magnify their trading positions.

Deposits and Withdrawals

In terms of account funding, Key to Markets has a seamless and efficient funding process by offering multiple funding options to its clients. These options encompass various payment methods, catering to diverse preferences and geographical locations. Also, traders must adhere to the platform’s guidelines prohibiting third-party account payments. Transfers can only be made from an account registered in the trader’s name, ensuring secure and compliant transactions.

Deposits

Clients can choose from options such as bank wire, SEPA transfers (EUR), card payments, e-wallets, UnionPay, and AliPay. Most of these methods provide instant funding, facilitating swift access to the trading platform. Note that bank wire and SEPA transfers may take 2-4 days and 1-2 days for the funds to reflect in the trading account.

Traders using e-wallets, UnionPay, AliPay, or Visa/Maestro cards should also be aware of a 2.5% commission applicable to these payment methods. On the other hand, bank wire, SEPA transfers, and Mastercard payments are free from commissions.

Withdrawals

When it comes to withdrawals, Key to Markets provides four convenient methods, all of which are processed within one business day. Traders can opt for bank wire, Skrill, Neteller, or Sticpay for their withdrawal needs.

While bank wire transfers are free, a 1% commission applies to withdrawals through other methods. Withdrawals are returned to the same source used to fund the trading account, aligning with industry anti-money laundering policies. As with funding, payments to third parties are strictly prohibited during withdrawals.

Key to Markets Trading Education and Training

Key to Markets provides valuable resources to enhance traders’ knowledge and decision-making; it’s worth noting that these offerings may be comparatively limited when compared to some other brokers in the industry.

Traders can access a range of educational and analytical materials, including

• Tutorials

• Articles

• Webinars

• Market analysis

• Thoughts and Insights

• Weekly Market Updates

Conclusion

Key to Markets is a well-established brokerage firm with a strong regulatory presence. The company is registered in the United Kingdom and regulated by the Financial Conduct Authority (FCA). The Financial Services Commission of Mauritius also regulates Key to Markets International Limited as an Investment Dealer.

The platform provides access to popular trading platforms, including MetaTrader 4 and MetaTrader 5, offering advanced tools and features for efficient trading. This brokerage firm also provides competitive leverage of up to 1:500 across both account types, allowing traders to amplify their positions.

Key to Markets offers a variety of funding options. Most deposit methods are instant, except for bank wire and SEPA transfers. Withdrawals are processed within one business day and can be made through bank wire, Skrill, Neteller, or Sticpay. In this comprehensive Key to Markets review, we have explored various aspects of this brokerage firm, providing valuable insights into its features, services, and regulatory standing.