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KeyMarkets Review
Traders Rating2 Votes0.85
Website: https://key-markets.com
Address: Trust Company Complex Ajeltake Road, Ajeltake Island, Majuro, Republic of Marshall Islands MH 96960
Phone: +35228480865
Email: support@key-markets.com
Company: Key Markets LTD
Regulation: Not Regulated
0.1
KeyMarkets Rating
KeyMarkets Warning
KeyMarkets is a Non-Licensed offshore broker! Your funds are not safe. We are not going to recommend KeyMarkets
Have You Been Scammed by KeyMarkets?

 

KeyMarkets. Everything you should know about them

 

KeyMarkets is one of the online brokers that you can make use of for trading. The question is if this is a broker that you can use safely, or if they aren’t recommended at all.

This is a problem that many traders have. They don’t know which brokers are recommended and which aren’t. And, this means that they are putting their funds at risk. With this review, you will find out if you can trust KeyMarkets and if they are as trustworthy as what traders think.

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Brokers info

 

KeyMarkets are situated in the Republic of Marshall Islands. Making this broke an offshore broker. They are known as forex and CFD brokers. They do offer a number of cryptocurrency pairs to trade with, making them popular amongst CFD traders.

They do have a valid address, telephone number, and email address. However, this doesn’t mean that they are now safe to use. There are many other things than just their address that you need to look at, to know for sure that they are recommended and legit brokers.

 

Are they registered and regulated?

 

The most important question that you need to ask about these brokers is if they are registered and regulated. This is something serious to know. If a broker isn’t registered, it means that they are actually operating illegally. And, that they don’t need to follow the rules for being online brokers.

KeyMarkets aren’t registered. And, they aren’t regulated as well. Making them a high risk to use. This is the main reason why it is recommended to leave KeyMarkets and to look for brokers that are registered and regulated.

 

 Account information and minimum required a deposit

 

KeyMarkets are offering four different accounts to traders. Making it great to choose the account that will be best for your personal needs. They are offering accounts like bronze, silver, gold, and platinum.

Something that you need to know is that the minimum required a deposit for each account option is higher than normal. Making it riskier to use than with brokers that don’t have such a high required deposit. The minimum required deposit starts at bronze with an amount of $250 and ends with platinum with a required deposit of $50,000. The higher the deposit the riskier the broker is. And, this is something essential to consider. You don’t need to deposit a huge amount of money, in order for you to start trading.

 

Offshore brokers are always risky

 

When you are choosing brokers online, you don’t really make sure that they aren’t offshore brokers. We think that the internet is offering different options and that you can use any broker from all over the world.

This is true, but there is one thing that you need to remember. That if you are using offshore brokers, your money will always be at risk. No matter what type of security they are offering. This is why it is not recommended that you are using brokers that are offshore and that aren’t registered as brokers.

 

The platform that they are using

 

This is the one great thing about KeyMarkest. The platform that they are offering to their traders. Many might say that this is an old platform, but this still remains the best, and most user-friendly platform up to date.

Yes, they are offering the MT4 platform to their brokers for trading. This is the platform that most traders prefer.

 

High trading costs

 

Another serious thing to consider is the trading costs that you are going to pay when you are using this broker. Different brokers are asking different trading costs. KeyMarkets are asking higher trading costs than other, more trustworthy brokers.

The question that you need to ask, is why are they offering a service where you need to pay higher trading costs than with other brokers?

 

What are regulators saying about these brokers?

 

Another important thing that you should make sure about before you use any broker, is to know what regulators are saying about these brokers.

Regulators are warning traders about using KeyMarkets. This is mostly because they aren’t registered, as we have mentioned earlier. You really don’t want to make use of brokers that aren’t legit and that can change their rules and regulations at any time. This is why regulators are warning traders to stay away from KeyMarkets. They aren’t reliable, regulated or even just registered. Not the best brokers to use if you want to become successful with trading. Especially with the required deposit that is higher than normal as well.

It is essential to make sure that you know as much about KeyMarkets as possible before you register to use them for trading. The moment that you have a full and complete review, you will see that this isn’t the best and most recommended broker to use. In fact, there are many reasons why this is a broker that you should rather leave alone. The main reason why you should leave these brokers is that they aren’t registered and regulated. There are much better and much more recommended brokers out there that you can use for trading forex and CFD trading.

 

 

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Online Trading Scams / 9 Responses / by

Post Author: ScamRecovery

9 thoughts on “KeyMarkets Review

  • Dave Emsley

    (May 15, 2019 - 8:46 am)

    I’ve not been scammed but keep getting calls on both mobile and work phone.

  • wayne

    (May 25, 2019 - 10:40 am)

    I invested £200 on a trial basis. The broker was clever and picked a profit making investments such as Oil and Gold so that I made 20% in about three weeks. Based on this success the broker wanted $US12,500 for me to invest. However being a pensioner that represented a large portion of my life savings so I declined at the last minute. The broker’s texts from then on deteriorated into chastisement of me and was a bit personal.
    Asking for my £200 to be returned she was not helpful, even when I said the company could keep the profit, about £40 as she was instrumental if obtaining it !
    I still have not received the £200 to date and that was on 14th May !

  • Pellumb

    (May 31, 2019 - 9:29 am)

    Hi, I received this email from key markets telling me to prove all this evidence
    Including asking me to send a photo of my bank card front and back is this something normal
    Thanks

    The verification procedure is an important part of a suite of measures intended to protect the security of all financial operations on Key Markets customers’ trading accounts.

    We are writing to remind that you need to verify your trading account before you can start withdrawing your profits.

    For this please provide the following information:
    1. Color photos of an official document confirming your identity. Please provide both sides of your ID document (passport, ID card or driving license) in full size.

    2. Please provide the photo of the document confirming your address in full size under your name. A list of acceptable documents:
    Photo of a utility bill (electricity, phone, gas etc.) from within the last 3 months (March, April, May).
    Photo of a bank statement or any other official document stating the address from within the last
    3 months.

    3. In order for us to verify the authenticity of your credit card, please provide the color photo of the front and back side of the credit card without closing the first 6 and last 4 digits, card holder’s name, signature and expiration date.

    card

    4. Deposit declaration
    Attached you will see deposit declaration form to print. Please fill the declaration according to example below:

  • kestutis

    (June 11, 2019 - 10:00 am)

    Labas aš noriu paklausti ar keymarkets kompanija patikima .Su pagarba Kęstutis

  • kestutis

    (June 12, 2019 - 11:36 am)

    Man siulo dirbti su šia kompanija ka jus patarsit ar dag zmoniu apgavo ši kompanija KeyMarkets Su pagarba

  • Patrick

    (June 25, 2019 - 11:11 am)

    I have been dealing with Keymarkets (Derek Anderson he calls himself, probably not his real name). I wanted my funds returned as i need them elsewhere and even if i did not it is none of their business anyway. I have noticed it is impossible to get your funds out. Every time there is something. The last message from today was they could not return my funds and there was an active open position. Well, i did not open it nor was i consulted about it. It was also a big loss position with a bigger than normal size of a trade. This seems to me it’s a deliberate position to drain my funds in a ‘legit’ way and not having to pay me back my funds.
    The trader even wanted to me invest more and i said only after i know i can withdraw or else what would be the point, he then showed me an easy withdrawal of 50 USD to show how easy it was. Yes, it was but after that forget it.

  • Patrick

    (July 1, 2019 - 12:44 pm)

    Key-markets and specifically the ‘broker’ Derek Anderson is not willing to refund the funds that are yours.
    Countless excuses and bla and now the site is off-air and all emails bounce. Basically, they stole the funds!
    Any advice on how to proceed? I mean being a dodgy company is one thing but disappearing is outright stealing and illegal

  • George Panagiotou

    (July 5, 2019 - 3:14 pm)

    I have opened a Forex account with Key-Markets.net. They have allocated Emily Coleman as my account manager. Since the beginning, Emily Coleman has been putting unduly pressure on me to invest more and more. When I’ve realised that the company is one big scam, I have asked to terminate my account and return the balance owed to me. They then started asking for more money in order to release my funds. This is just a brief summary and the real story is very ugly – and in my opinion, I was also advised by many authorities to that effect, that what Key-Markets are doing is fraudulent and money laundering – in my opinion. 5 July 2019

  • Tony

    (December 24, 2019 - 8:02 am)

    I get contacted by derek from KeyMarkets and I set up usd500 and within 5 days it turned into usd1800. Then he was driving me made to invest and tells me look what I just done with usd500 and that he wants usd7500, I got sucked in and invested 😡. He then turned that into usd25000 and told me I can withdraw my usd7500 then on Friday which was 2 days time. He then invested into wheat,oil,gold to which it would never reach. The swaps which is the money they make was killing me some trades was 5 lots and before I knew it I was usd15000 down and going fast. He said don’t worry it will be back to level soon. But this was not true and I lost the lot. The longer the trades are on for ie over night the more money they get so if a trade is on for 3 days the swaps are what they get and that’s why they leave them on.

    Getting money back no chance. They will suck u in by saying ok let’s do a withdrawal of a little amount so it keeps you thinking it’s true

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