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.
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.