The Forex industry has reached every corner of the world, and the trading system takes a more or less similar form anywhere. The basic principles are the security of funds and good trading conditions which optimize results. Many traders enjoy the convenience to be in one part of the world and trade in a completely other. For example, there are many traders from Europe who rather trade in the Asian or US market. The only difference between the markets is that some have authoritative regulators who are capable of implementing the legal provisions referring to the capital market, while others are not due to poor governance and lack of political will to impose regulation properly. The broker examined in this review, Key to Markets, luckily comes from the UK, one of the best-regulated countries in Europe. Nevertheless, the broker’s main seat is not in Great Britain, but in New Zealand. This is also not bad since New Zealand is not one of the poorly regulated countries. The Forex market took a global shape, and it is hard to resist not looking into other markets and their offers if we are already given the opportunity and means to do so.
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Short Overview
Key to markets is owned by the British Key To Markets Ltd. which opened a branch office for Forex trading in far-away New Zealand. The broker offers services to institutions, corporations, and individual traders. The broker is very diverse by offering CFDs, market making services, and ECN. ECN becomes more and more popular, and for a brief period of time, we had separate brokers for market making and ECN, while nowadays as we can see, it comes all in one. The combination of different services was a clever idea which brings in more clients. ECN is preferred because it offers straight access to the market and your broker does not trade against you which enhances your winning odds. On the other hand, ECN platforms require large volumes and some individuals simply cannot afford to maintain an ECN account and stick to CFDs and market making. Key to Markets is regulated by the UK FCA which is acknowledged from the West to the East. The FCA makes sure that Key to Markets protects its clients and their funds and that they do not reach for dirty tricks for personal gains.
Platforms
As many brokers, Key To Markets also added an in-house platform to the MT4 platform which is also a part of their service package. The proprietary Key To Markets platform is very intuitive, and it was specially designed to offer the optimal features to traders. The platform has also automated trading features which is one of the most favorite options of traders. Many traders still love the MT4, since they prefer a platform they are familiar with, and moreover, the MT4 requires a lower deposit than the Key To Markets platform and has a higher leverage. Still, the in-house platform offers very special features which, (especially experienced) traders, find convenient.
Account Types
The broker offers three classic trading accounts, which are:
- MT4 Standard
- MT4 Pro
- KTM Trader FX
The MT4 Standard account is very affordable with only a $100 minimum deposit and a 0.01 minimum trading volume. The spread is also in the normal and standard range with 1.0 pips and leverage 1:500. The account is for beginners and experienced traders alike. The MT4 Pro is for ECN services, and it encompasses the most features listed in the standard account, like the minimum deposit and maximum spread, just that this account starts from 0.0 pips and charges an $8 commission.
The KTM Trader FX account gives access to the sophisticated in-house platform and is not made for everyone. The initial deposit amounts to $10,000 with leverage 1:100. The minimum trading size is 0.10 mini lots, and pips start from 0.0 pips plus a $7 commission. The broker also offers a separate Key To Markets futures account for experienced and passionate traders.
Key To Market Bonus
The broker is not that generous with bonuses, though. There is no standard deposit or welcome bonus. The broker strictly rewards high-volume traders with monthly rebates up to the amount of $60. To qualify for the bonus, traders have to trade over 50 lots on a monthly basis.
Funding Options
This broker accepts a range of payment methods so that you would not have to worry about that. If you sign up with this broker, you could choose between bank wire, credit cards, SEPA, Neteller, Skrill, Postpay, WebMoney, Sofort, Paysafecard, Giropay, UnionPay, and NeuroSurf. Withdrawal processing usually takes up one business day, which is normal if we consider the verification process.
Customer Support
Key To Markets maintains a tidy and neat customer support system. The staff is available around the clock and traders do not have to wait too long for a reply since the staff answers requests very fast.