Overview of KeyOne Trade Review
The United Kingdom situated forex broker KeyOneTrade offers three trading accounts that can be distinguished between basic and premium ones. The distinction between them is based on the initial investments they need, basic one needs hundreds of dollars while premium needs thousands of dollars. Higher values of maximum leverages are offered and the broker is shy to show spreads provided. And we are certain why? They are wider spreads. However, it’s not our primary concern. We have identified several problems with it. This KeyOneTrade review is one of kind unbiased literature that needs to be read before making any investments in it. Read full KeyOne Trade review here.
There are three trading accounts can be seen on the official website of KeyOneTrade and they are dubbed as Classic, Premium, and VIP that requires USD five hundred, three thousand and five thousand to start trading on them respectively. The leverage levels of 200:1, 300:1, and 400:1 are provided successively on each of them. Unfortunately, the broker’s presentation on the official website does not bother to show info about provided spreads. To craft an unbiased and total review we are compelled to talk about all the possible positives and negatives of KeyOneTrade.
The broker KeyOneTrade offers solid leverages starting from 200:1 to 400:1 and they are very much attractive. However, the European market has disallowed higher leverages and capped at 30:1. This allows many traders to add extra profit. This is the only pro we can share with you right now.
Now we simply move to all the negatives of KeyOneTrade. The broker dodges all the crucial information to be communicated. There is a shortage of information about the company behind it, and contact number or official address, and mention of licensing or regulation. The broker claims to be regulated by the Asian Exchange and Security Commission, the entity that does not exist. A fully functional and automated trading platform labelled as MetaTrader is not provided. It will surely turn away many traders from KeyOneTrade. Also, we haven’t got hold on a free demo account. It is yet another red flag. Furthermore, no spreads are discussed so what will be the actual cost of trading is a mystery.
Is KeyOneTrade scam or legit?
The broker KeyOneTrade is a potential scam broker 2020. All the reason calling it the scam broker is unregulated and anonymous nature. The high initial investment for a web trader platform. No properly discussed spreads and higher leverages.