KeyMarkets (Key-markets.com) is a CRUEL CFDs and Forex broker to hit the lucrative trading world. According to their homepage, investors are called upon to invest for optimal profit. Don’t be fooled by the many empty promises thrown by Key Markets. Mark Neumann is a victim of this scam and has lost over $50,000 within minutes. Here, we will reveal tricks used by these scammers. Read on to find out more.
As we always say in all our reviews, for a scam to work, it must first appear real and legit. What these scammers have done is no different. They have created an eye-catching website that easily entices the eye. Don’t just fall for a platform that looks real, always ask yourself some serious questions. Always look for reviews regarding a certain product before signing up or purchasing any services.
Promises are the second thing that scammers use to entice users into signing up with them. Scammers have perfected the art of throwing empty promises to users for enticement purposes. Some of the promises thrown here include VIP referral programs, favorable terms, and stable profit margins. These promises are downright fake as they are never going to happen. One such promise is stable profits.
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Note that this broker is located in Majuro, Marshall Islands. This clearly means that we are dealing with an offshore broker. Offshore brokers are notoriously known to flaunt set rules and regulations.
Level of anonymity with KEY MARKETS is not something we are comfortable with. Why haven’t they named any real persons behind the company? This is clear that these people don’t want to be recognized. All expert Forex investors know better than to trade with an unknown entity. This could spell disaster in the long run. Unknown entities have been known to be clear fronts for identity theft and more.
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Fact of the matter is we are dealing with an offshore broker who will never follow strict industry rules. This is further validated by the fact that no regulatory body has ever heard of KeyMarkets. All the regulatory bodies we contacted refuted claims of ever registering KEYMARKETS. These regulatory bodies include the FCA, FSA, and CySEC. If this regulatory bodies don’t know you, then you are definitely a scam.
Also, we took a look at the company’s website using whois.net and found some disturbing details. Key-markets.com was registered December 2018 which means that they are lying to us. Homepage clearly shows that they claim to have years of trading experience. How can this be the case and their domain was registered just the other day? This is proof that we are dealing with a professional Scam outfit.
Another thing that is wrong with this broker is the fact that they never allow users to withdraw money. Mark Neumann wanted to withdraw half of what he had deposited when he saw loses were being made. Sadly, he tried contacting these scammers but no response was forthcoming. It means that these scammers just want you to deposit your hard-earned money with them. This is clearly a scam.
Deposit methods with this broker are well covered. Users can deposit money using various methods such as Visa, MasterCard, BankTransfer, and Bitcoin. Deposit money is easy and fast and probably the only thing these scammers got right. However, this is not a genuine reason to sign up with these scammers. Continue reading this review and find out the whole truth regarding Key Markets.
Key Markets claims to use MetaTrader4 Terminal which is universally accepted. Problem with this is that their platform is not compatible with other devices. A good platform must be compatible with Desktop, mobile, and Tablet devices. Sadly, this platform could not download on all our devices. Download stalled at 10% which spells disaster for any and all users. This is clearly an unstable platform.
Unstable platforms are a disaster since they are easily hacked for personal data infringement. Hackers take advantage of this vulnerability to steal personal information as well as credit card information. This is why no sane investor can sign up with an unstable platform since it leaves them vulnerable to attacks. Best thing for newbie traders is to stay away from unstable platforms such as one used here.
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Notice to all investors is that this broker does not offer safety of funds. Reason why we say this is because of evidence we have. For instance, no one knows for sure who the real owner is. Plus, we are sure KeyMarkets does not participate in segregation of accounts. This means users could be depositing money straight to the owner’s personal account. Another issue with KeyMarkets is a compensatory scheme.
If this broker had a compensatory scheme, victims such as Mark Neumann could have been compensated. Sadly, this is not the case as we are dealing with an offshore broker who doesn’t follow rules. This is clear evidence for anyone wishing to sign up with KeyMarkets to stop doing so immediately. Why sign up with a brokerage firm that will leave you high and dry after making deposits?
KeyMarkets offers four different account types to users. These accounts are Bronze, Silver, Gold, and Platinum. Bronze account holders must make a minimum deposit of $250 with a leverage of 1:300. Silver account holders must make a minimum deposit of $2000 and a leverage of 1:300. Clearly, there’s no difference apart from the minimum deposit money required to start trading.
Gold account holders must make a minimum required deposit of $10000 to start trading. Leverage is 1:300 and come with an expert adviser. Platinum account comes with the same perks as with Gold account. Only difference is the minimum required deposit which is $50000. What about the special offers?
KeyMarkets is a scam in that should be avoided at all cost. Never sign up with a platform that has such high levels of anonymity. Mark all their emails as Spam and never click on any links sent via email.
Concrete evidence produced leave us with no other option but to blacklist KeyMarkets for the scam it is. From fake registry number to fake a non-existent support team, we are sure that this is a dangerous Forex scam. Stay away from this scam to avoid being their next victim.
Always go for Forex brokers who are Certified and Vetted by the trading community. These Forex brokers have been Tested and Verified by the trading community. Sign up with Dependable and Transparent Forex brokers who are Genuine and Reliable to start making profits today.
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