KeyStock broker is a company offering trading options with stocks, currencies, commodities, and bonds, with a rather short history and determined to make its mark in this field. So let us see how good their products are or if they are as good as they claim. Or if they are a straightforward company or not.
As per their web-site, they are owned by Nuntius Brokerage & Investment Services, an independent firm providing investment services for over 24 years, both on the stock market and the derivatives market. The parent company holds a license granted by the Hellenic Capital Markets Commission (H.C.M.C), and is regulated under MIFID law. Nautilus offers several services, from order transmitting and execution, to investment portfolio management and advisement. From our experience, being a regulated company is a good point, but should definitely not be the only one to take into consideration when deciding to invest your money, therefore the KeyStock opinion should encompass more data.
So we will take you through the entire platform, pointing out the major pros and cons that KeyStock broker Forex holds. First of all, the trading platform: they use Meta Trader 4, Web Trader and Mobile Trader. No complaints here, these are legitimate platforms, you can access them anywhere you want, have a mobile version and so on, increasing accessibility of the product. So far, so good.
KeyStock review: minimum deposit
The next thing to consider is the account type they have to offer. If you are easily impressionable, don’t open this section of their site and give up using it altogether. The mini account has a minimum deposit of 1,000 USD. Yes, 1,000 USD, placing them in the high end of the brokerage community. It offers a dedicated account manager, briefings and webinars, and 24/5 customer service. Second account type starts from 5,000 USD, and besides the previous benefits, it also allows the user to get SMS signals.
And the Exclusive account starts from 20,000 USD, offering, on top of the above, daily analysis and premium customer care. They offer over 200 assets with the claim that you will win instantly (!) if you trade with them. Now this goes along the KeyStock scam pattern. Who can offer instant winnings?! They claim to offer a leverage of 200:1 for Forex. The overall packages seem to be quite “pricy”, many brokers mentioning this aspect in the cons department. Yes, the platform is accessible, they may offer so-called educational programmes, but such benefits don’t come even closer to covering the high deposits that need to be made.
KeyStock spreads review
As mentioned, KeyStock offers the possibility to trade various products – currencies, bonds, commodities etc. In terms of trading, the spread places high importance and it can be a deal breaker in choosing the broker you trade with. Let’s look at commodities. Here, the spreads go from 0.05 for such commodities as oil, and go as high as 10 for cocoa. This comes in the high margin in the brokerage community. In terms of currencies, the spreads vary from 3 for major instruments such as USD/CHF, GBP/USD or EUR/USD, up to 250 for EUR/RON. AND the KeyStock reviews sanction it.
KeyStock Review: bonus or no bonus?
Now for the more interesting part of this review. The bonus system. Do not bother to check for it on the web-site, because you will not find any mentioning of it. Which doesn’t mean that it doesn’t exist. KeyStock bonus system is a rather peculiar issue. According to some reviews, they do have a bonus strategy. But this is exclusively up to the account manager. Both in terms of amount, and in terms of qualifications necessary to receive it. Some reviews mention a 100 USD bonus in case of referrals, but only after you make a 10,000 USD deposit.
Some other present an offer of up to 2,000 USD for a live account and 10,000 USD virtual money, part of KeyStock no deposit bonus, for a demo account (which seem to be part of old promotions from an old ad of the company, meaning it may well be obsolete). However, KeyStock bonuses seem to be a mirage, more than the real deal.
As we said before, there is no official mentioning available on the platform web-page that we could found. This is a big con in this review. And, if the information that the bonus system is actually in the hands of one account manager or another is correct, again, it is a rather shady practice. Even small FX platforms are straightforward about their bonus policy and no controversy is needed in this field. KeyStock opinions on lack of credibility seem more and more accurate.
KeyStock support review
If we reached the “people” support section of this review, it is worth mentioning that a minus (not necessarily the biggest one, though) is for the customer support service. This is available 24/5, while you can trade 24/7. Meaning, you are allowed to have a problem or to try and get help for solving some sort of a glitch you may encounter only from Monday to Friday. Don’t dare to contact them on weekends. They expect you to trade lots of money, but you can get virtually nothing for this money in return at least two days per week. One would expect more from KeyStock. But maybe this five days a week support can tell more about the KeyStock promotions we talked about earlies, who knows?
Conclusion on KeyStock review: more cons than pros
To sum up the pros and cons of KeyStock Forex broker: this broker requires very high deposits, it is quite secretive about the bonus policy, which makes us think there is actually no bonus policy, it offers support as the low-end brokers, but tries to position itself as a high-end one (at least in terms of amounts necessary if you are eccentric enough to trade with them). The spreads are also on the high side, being a minus for traders. It does have a good operating platform, training courses and some support, but the return on investment is rather low from this point of view.