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KeyOnCapital is a broker purporting to be regulated by the FCA and is offering 60 financial instruments, low spreads and leverage up to 1:500.
KeyOnCapital.com was registered in June 2014. Their duration of existence does not mean they are reliable and reputable.
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Furthermore, KeyOnCapital is offering 3 account types with minimum deposit requirement starting at $500.
The broker does not offer the popular MT4 trading platform but rather relying on a strange in-house software called KeyOnCapital web and mobile respectively.
Apart from lying that they’re regulated by the FCA, they are also claiming to be registered with the CySEC, which is another big fat lie.
This is a very big concern. We’re advising traders and investors to exercise caution.
If you would like to trade the currency market, find a good software or trading service.
Is KeyOnCapital legit?
No, it cannot be a legitimate broker. In fact, the CySEC has also issued a warning regarding this matter where they listed Key On Capital among other illegal brokers.
They said it is risky to trade with this broker as they have never issued them with any regulator’s license.
Furthermore, the minimum deposit asked by this broker is very high.
This is unusual because most professional brokers will ask for $100 or less for a start.
What we see with this fraudulent broker is that they would like to scam a few people to make big bucks.
Conclusion
Traders should take these warnings seriously. There is no way a professional broker can commence its operations while disregarding legal requirements.
Furthermore, this broker does not seem to offer what avid traders would like to see.
No information about spreads and their trading platform is also very weird.
There is no chat support either. All of these things suggests that traders who invest with KeyOnCapital broker will go through hell.
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