Key to Markets

4
Regulated by multiple high profile jurisdictions (FCA, DMCC & FSC), KTM signifies accountability at providing a regulated access to financial markets. KTM International is headquartered in London.
Trading Platform:
MT4
Max Leverage:
500:1
Markets:
FX, Precious Metals, Indices, Commodities, Stocks & Crypots
Regulations:
FCA, DMCC & FSC
Min Deposit:
$100
Open an account Read full review

Summary

Forex and CFDs on Stocks, Cryptocurrencies and Indexes are the core of KTM’s business. 

Regulated by multiple high profile jurisdictions (FCA, DMCC & FSC), KTM signifies accountability at providing a regulated access to financial markets. KTM International is headquartered in London.

⚠ Risk Warning: CFDs are complex instruments and are usually traded with leverage, which significantly increases the chances of losing money. At the time of the review 71% of retail investor accounts were losing money when trading CFDs with this provider. It’s your responsibility to understand the inner workings of CFD instruments and understand the underlying risks. 

Overall

Pros
  • Prompt Account Opening & D/W
  • Flexible Leverage
  • Real ECN great for EA Trading
Cons
  • Limited # of trading instruments
  • Stock, Index, Crypto, Commodities trading Limited to CFDs

Fees

Pros
  • Low non-trading fees
  • No withdrawal fee for payment systems and low for wires above €1000. First under 1000 is free too. For cards, there is 2.5% on the way in and 1% on the way out
Cons
  • None

Trading Instruments

Pros
  • Forex & CFD
  • No inactivity fee availability
  • NY close (5 daily candles per week better than London close)
  • Options
  • Cryptos
  • Futures
  • CFD
Cons
  • No Availability of Futures, Bonds, Options Stock & ETF limited to CFDs

Account Opening

Pros
  • Fast On-boarding (fully digital)
  • Customer-friendly
Cons
  • None

Deposit & Withdrawal

Pros
  • Quick D/W
  • Credit/Debit Card Supported
  • German Custodian Bank
  • Fast SEPA wires for EU customers
Cons
  • High electronic wallet fees

Trading Platform

Pros
  • Stable platform
  • Rich pool of third party EAs and Indicators
  • FIX API for experienced traders
Cons
  • Limited Order Types
  • No proprietary platform
  • No Web Trader

Customer Service

Pros
  • Phone Support
  • Live Chart
  • Professional & Relevant
Cons
  • No weekend support

Research

Pros
  • User-friendly design
  • Excellent chat system
Cons
  • No sophisticated research tools
  • No third-party recommendations
  • No charting available

Research & Education

Pros
  • Demo Trading
  • Tutorials, Strategies & Handouts
  • Basic Analytical Tools
Cons
  • Not enough Fundamental Data
  • Basic Market Research

Regulation & Safety

Pros
  • FCA
  • DMCC
  • FSC
Cons
  • No Asic

Full Review

? We recommend KTM for EA Forex trading, money management (investing, managing), as well as speculating (short term trading) on Stocks, ETFs and Cryptocurrencies via Contracts for Future Difference (CFD).

Fees

Ok trading fees and no non-trading fees on Forex, within which fees on CFDs are more expensive.

AssetsFee LevelFee Terms
US StockHighOnly available via CFD
EU StocksHighOnly available via CFD
EURUSDLow≈ €8.00 per lot + interbank spread
Inactivity FEELowNo inactivity Fee

Let’s first go through the fees terminology:

  • Trading Fees occur when you trade (spreads, commissions, financing rates, and conversions)
  • Financing or overnight rates are charged when you hold your leveraged positions for more than 24 hours. Leveraged position means that you borrow money from the broker to trade.
  • Non-trading fees are withdrawal fee or inactivity fee, hidden fees. 

To put things in a proper context we compare KTM with the competing services, based on product offering, fee structure and customer profile.

Non-trading fees

Key to MarketsAxiXM
Account feeNoNoNo
Inactivity feeNoNoNo
Withdrawal fee$0$0$0

Except for a slight difference depending on your country, non-trading fees are low to non-existent. You won’t be charged for inactivity, as well as a deposit of over €100.

Trading Fees

Raw account holders would have to pay both commissions and spreads, whereas Fixed & Classic traders are limited to just spreads.

Comparing trading fees among CFD brokers may get convoluted pretty quickly, for the purpose of making things more straightforward, we’ve decided to showcase all fees for trading the most common set of products using a Raw account.

The leverage we used is:

  • 10:1 for stock CFDs
  • 500:1 for forex
  • 100:1 for stock index CFDs

We define a typical trade as a €2,000 and €200,000 buy position for stock & forex respectively, held and sold after 7 days.  

The commissions are calculated for the RAW account.  

The benchmark fee takes into account commissions, spreads and financing costs. Below is the result for KTM.

Forex Fees

Forex Fees are low in comparison to XM & AxiTrader. 

 KTMXMAxiTrader
EUR/USD benchmark fee1.4 17.1 13.8
GBP/USD  benchmark fee1.7 13.8 –
AUD/USD benchmark fee1.713.99.5
EUR/GBP benchmark fee2.012.211.0

Stock & Index CFD fees

Stock & Index CFD are similar to XM & AxiTrader. 

KTMXMAxiTrader
Apple CFD benchmark fee0.50 3.4 –
Vodafone CFD benchmark feeNA 5.6 –
S&P 500 CFD Benchmark12.41.7
Europe 50 CFD Benchmark32.41.2

Financing Rates

These fees occur when you decide to hold your position. The longer you stay in CFD or FOREX trade, the more fees will accumulate, making the final amount rather hefty.

Trading Instruments

Focused on Forex, KTM will only let you trade limited CFDs on Stocks, Commodities, Crypto and Indices.

Markets & Products General

Key to MarketsAxiXM
Stock---
ETF---
Forex603448
Fund---
Bond---
Options---
Futures---
Cfd9651122
Crypto535

KTM  offers a ok amount of CFDs, most of the traders will find the most popular instruments around here.

⚠ Keep in mind, CFDs are complex instruments and are usually traded with leverage, which significantly increases the chances of losing money. At the time of the review 76% of retail investor accounts were losing money when trading CFDs with this provider. It’s your responsibility to understand the inner workings of CFD instruments and understand the underlying risks.

Stocks & ETFs

At the time of the review KTM hasn’t offered any stock and ETFs directly. They did offer CFDs on US, DE, FR, ES stocks & ETFs.

Account Opening

Despite sales people trying too hard sometimes, the account should be ready within the same day – without complicated procedures involved.

Account Eligibility

You are fine as long as you don’t currently reside in the following countries: 

  • USA 
  • North-Korea
  • New Zealand
  • Iran
  • Iraq
  • Syria

KTM Min Depo

Depending on your country, a minimum deposit may or may not apply. Contact your local sales team for more info.

Account Types 

There are two account types “raw”  & “standard” that differ in commissions. The main difference is the variable cost for standard is €1.5 and no commission,meanwhile raw is 0.2  + €8 per round. 

Ostensibly, there is no difference between the two. I suspect that the difference may be rooted in the market vs non market maker execution. 

  •   Standard
  •   Raw 

How to open an account at KTM

You’d need to: 

  •   Fill in your personal data
  •   Answer questions about your trading experience (questionnaire)
  •   Verify identity (depending on your country of residence it may not apply ⬆)

Money Management (PAMM/MAM)

KTM feels like a particularly good option when you consider money management options (PAMM, MAM, Social Trading). Moderately low Forex & CFD fees open up an extra room for money managers and investors to have a good deal.

To connect the two, KTM uses the Percentage allocation management module (PAMM), also known as percentage allocation money management or PAMM. 

The biggest difference from Multiple Account Management (MAM) is that unlike MAM, PAMM keeps all funds on one money manager’s account, leaving an investor without the options to emplact the trading on their side. 

Another difference is that to join PAMM new traders don’t have to wait until the current trades are still closed, in contrast anybody can join at any point, the money managers would just need to increase the stake in an active position in accordance to the new capital (if that’s not done, while the new investor has joined with some positions still active, the final proportion of loss/profit will be affected by the new capita). 

To become a money manager, you’d need to: 

  1. Open & Verify Account 
  2. Allocated at least €1,000 to your MT4/5 Live Account 
  3. Reach out to KTM to Set you up as a Money Manager
  4. Distribute the link to your PAMM

To become an investor (KTM does offer public managed accounts): 

  1. Open & Verify Account 
  2. Allocated funds to your MT4/5 Live Account 
  3. Locate money managers via KTM’s PAMM network/join closed PAMM

As an investor you will receive, daily equity updates and trade overviews. Unfortunately, KTM’s solution won’t let you know about the status of your trading live.

Overall, albeit being rough at the edges and a bit convoluted in terms of investor onboarding, KTM’s PAMM is a solid solution that, together with KTM’s exceptionally good customer service, should ensure both money managers and investors won’t get lost or impatient. 

Money management fees can be agreed based on management and performance fees. Management fees are not tied to the profit your money manager makes, and are usually on the lower side (1-2%), meanwhile performance fees (usually calculated at high watermark) serve to reward the money managers (usually 25%-50%). 

Social Trading

KTM social trading is limited to the ad-hoc solution by social trading tools. At the time of the review the solution hasn’t been fully implemented. 

Despite not being exactly the eToro of social trading, KTM’s social trading area does the job well enough to consider it as an option. 

Deposit & Withdrawal

Available via several options, the deposit & withdrawal (d/w) process is quick and inexpensive (except for digital wallets).

With an exception of electronic wallets (≈ 2% of the amount) the fees are free. Among the popular transfer options are: 

  • Bank transfer
  • Credit/Debit card
  • Skrill
  • Neteller
  • Union Pay

Deposit options

Key to MarketsAxiXM
Bank transferYesYesYes
Credit/Debit cardYesYesYes
Electronic walletsYesYesYes

You can only d/w from entities in your name only. The debit/credit card and digital wallets deposits arrive instantly, whereas wire transfer might take up to 3 business days. Exception for EUR withdrawals, which make under 24 hours if executed before afternoon.

There are no withdrawal fees after $1.000 via the wire, other methods imply the regular online wallet fees.

Withdrawal fees and options

Key to MarketsAxiXM
Bank TransferYesYesYes
Credit/Debit cardYesYesYes
Electronic walletsYesYesYes
Withdrawal fee$0$0$0

Platform & Trading Experience

KTMs  offers a basic version of MetaTrader 4 on both Windows & Mac (except catalina)

MetaTrader is the most popular forex and cfd platform, available in multiple languages and supported by the largest FX community. 

Unfortunately, the platform is also quite dated and unlike with competitors, lacks any added features. 

User Experience & Functionality

The website and back office offer a comfortable browsing experience at the first glance. Most of the information is easy to find and comprehend. 

Despite a somewhat outdated MetaTrader 4 experience, the platform will be familiar to non-novice traders. 

Unfortunately, unlike other trusted brokers on the website, KTMs MetaTrader experience doesn’t pack any added value features, nor the support of macOS Catalina (currently only available via web platforms). 

Alerts and Notifications

MetaTrader allows you to configure the following notification:

  • Margin Call
  • Deposits & Withdrawals
  • Orders

Customer Service

Although KTM is less impressive over the email, you will always find help via phone or their live chat. Make sure to time your queries during the traditional 24/5 hours.

Available in many languages, the KTMs support is available to you 24/5, over the phone, live chat, and email.

Random cheek of KTM’s London support chat via phone and live chat, left us satisfied in terms of response time, quality of answers and general tone of communication.

A minor red flag on quality of support showed up, when the account manager hasn’t clarified the difference between CFD and Actual stocks. Keep in mind, the quality of customer service may vary depending on each local branch.

Research & Education

Research and education are well structured, easy to comprehend, and useful for any novice and intermediate traders.

When it comes to education, there’s not much to be found at the time of review. Should you be looking for more complimentary forex & cfd materials, come take a look at our forex and cfd research & education.

Charting

Charting tools are quite robust, packing over 20 indicators. Surprisingly, you won’t be able to save the chart settings for later.

Fundamental Reports

You won’t find much besides an economic calendar – which, to KTM’s credit provides an easy access to a comprehensive amount of reviews.

Other Research Tools

KTM’s research tools are limited to the following types 

  • Trading calculator
  • Economic calendar 

All perform basic functions and will come handy as a point of reference. For more comprehensive analysis you might want to look at other brokers or service providers.

Regulation & Safety

You should be safe with KTM, as it’s regulated by three authorities around the world, including FCA, DMCC & FSC.

KTM legal entities & background

London in 2010. FCA, DMCC & FSC. Originally born as a boutique institutional broker, it’s transition over to the bigger (avoiding the word “retail” intentionally) market brings superb conditions and infrastructure to the everyday trader.

To make sure your branch offers a required level of protection contact the local client service.

KTM legal entities
Client countryInvestor protection amountRegulatorLegal entity
United Kingdom£85,000Financial Conduct Authority (FCA)

KTM UK LTD

Clients outside of EuropeNot providedFinancial Services Commission of MauritiusKTM International Limited
DubaiNot providedDubai Multi Commodities CentreKTM DCC

In a nutshell

Despite its limitations in product offering and platforms, KTM manages to offer competitive services in money management, automated trading and forex trading in general.

Keeping in mind the availability of FCA regulators back up and affordable commission structure, KeyToMarkets.com rightfully deserves the attention from sophisticated traders. 

Brief Overview

? Country of regulationUK, Dubai, Mauritius
? Trading fees classCompetitie
? Inactivity fee chargedNo
? Withdrawal fee amountCard payments. First withdrawal under 1000 also free on a monthly basis.
? Minimum deposit$100
⏰ Time to open an account1 day
Deposit with credit cardAvailable
Depositing with electronic walletAvailable
Number of base currencies supported4
Demo account providedYes
Products offeredForex, CFDs on Crypto, Stock and and Commodities

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