Keyonetrade.com Broker Review KeyOneTrade is an Unreliable Broker

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XLR Trade Review – Is xlrtrade.com scam or good forex broker?

Trading Accounts

Account type Minimum deposit Maximum leverage Spread
Micro $1.000 1:300 Around 2 pips*
Standard $5.000 1:300 Around 2 pips*
ECN $20,000 1:300 Around 2 pips*

*Spreads at XLR Trade are disclosed via a section on their website, which may be unreliable.

XLR Trade is a STP forex broker, which also provides several CFDs. The company provides a rather poor presentation of its trading conditions, with a few contradicting sections.

The Company. Security of Funds

Company Country Regulation
Nostro Partnership lp UK N/A

XLR Trade is owned and operated by Nostro Partnership lp. The company is registered in the United Kingdom, but does not claim affiliation with the Financial Services Authority (FCA) or any regulatory agency. While they may be applying for a license, the current is highly troubling and probably enough for us to recommend avoiding dealing with the broker.

When trading with an unregulated company, you are basically taking their word, for the security of your funds. Scammers have been around since the beginning of time, but most countries nowadays have regulatory agencies to separate the honorable companies from the more shady elements.

The aforementioned FCA is one such agency, which has a very high reputation. They oversee a lot of companies and enforce a lot of rules upon them. In terms of the security of your money, two of them are key – the segregation of client accounts and the compensation scheme. First of all, having segregated accounts means the broker can’t freely access your funds. A strict procedure for transferring client money is in place. On top of that, all FCA-regulated brokers are forced to participate in the Financial Services Compensation Scheme. This is basically an insurance pool, to which they have to contribute a portion of their profits. The money is then used as a guarantee against one of the participating companies going bankrupt. All accounts are covered up to £50,000.

Trading Conditions

Minimum Initial Deposit
While the account types section of the website claims $1,000 as the minimum, another section of the website states it is $500. We are not certain which one of these is true, but both levels are rather high for forex brokers. As an example, easyMarkets only requires $100.

That being said, the minimum deposit shouldn’t be a key factor when comparing brokers, unlike their regulatory status.

Average spreads & Commissions

While the costs of trading at XLR Trade are not fully disclosed, there is a live feed displayed on their website. Here is a screenshot:

As you can see the EUR/USD spread is 2 pips, which is a bit wider than the most competitive offers, provided by other brokers. Most companies offer something in the 1.0-1.5 pips range for this pair. You can compare the conditions provided by some of the best forex brokers here.

Leverage
1:300 is the maximum leverage provided by XLR Trade. This is a perfectly suitable leverage ratio for all trading strategies, despite the fact some brokers provide even higher levels like 1:500.

Keep in mind, margin trading is very risky, especially if you do not understand how leverage works. This is the main reason, why US regulators have limited the maximum leverage provided to retail clients to 1:50.

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Trading Platforms

XLR Trade provides its services backed by the power of MetaTrader4(MT4), the world’s most popular currency trading platform. It provides great charting potential, as well as a plethora of customization options. The MQL marketplace, provided by the developers of the platform (who are not related with any broker) has thousands of technical indicators and automated trading systems available, including some free ones. Mt 4 also has very comprehensive mobile and web versions.

That being said there appears to be an issue with the platform provided by XLR Trade, as we couldn’t connect to their servers. Hopefully this is a temporary problem, which will be resolved in the future.

Methods of Payment

XLR Trade offers a few payment methods. They are Bank Transfer, Credit/Debit Card and Webmoney. While an e-wallet is present it isn’t among the most popular ones.

Conclusion

XLR Trade is an unregulated forex broker. The company doesn’t fully disclose the spreads it provides, in ways other than the “live feed” which may be unreliable. Currently, there appears to be an issue with the trading platform. We will update this review, once the situation changes. Here are the current pros and cons of this broker:

Pros Cons
MetaTrader4 Platform Lack of regulation
Lack of information on spreads
High spreads in the “live feed”
Few payment methods

Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

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TD Ameritrade Review

TD Ameritrade delivers the ultimate package for investors, including $0 trades, fantastic trading platforms, excellent market research, industry-leading education for beginners, and reliable customer service. This outstanding all-round experience makes TD Ameritrade our top overall broker in 2020.

Top Takeaways for 2020

After spending five months testing 15 of the best online brokers for our 10th Annual Review, here are our top findings on TD Ameritrade:

  • Once again, TD Ameritrade bested its competitors in our rigorous testing and came out on top as our #1 Overall broker. Alongside placing first Overall, TD Ameritrade finished first in four other categories: Platforms and Tools, Customer Service, Education, and Beginners.
  • TD Ameritrade’s desktop trading platform, thinkorswim, is our top recommendation for traders in 2020. The mobile app companion to thinkorswim, Mobile Trader, also won our award for the No. 1 Trader App. Needless to say, TD Ameritrade delivers for all trader types, including day traders, options traders, and futures traders.
  • Thanks to technology and artificial intelligence (AI), customers can access TD Ameritrade’s quote and basic account functionality everywhere, from Alexa to Facebook, Twitter, Apple Messages, Android Auto, and Apple CarPlay. TD Ameritrade also runs its own media network, where it broadcasts market commentary, interviews, and educational segments every trading day. Oh, and yes, stock and ETF trades are $0.

Overall Summary

Feature TD Ameritrade
Overall 5 Stars
Commissions & Fees 4.5 Stars
Offering of Investments 4.5 Stars
Platforms & Tools 5 Stars
Research 5 Stars
Education 5 Stars
Mobile Trading 5 Stars
Customer Service 4.5 Stars
Ease of Use 5 Stars

Commissions & Fees

Thanks to a pricing war in late 2020, on October 3rd, 2020, TD Ameritrade slashed its $6.95 stock trades (including ETFs) rate down to $0, with options trades now costing just $0.65 per contract.

However, despite $0 stock and ETF trades, there is still a $6.95 flat-rate fee for trading penny stocks.

TD Ameritrade pricing summary:

Feature TD Ameritrade
Minimum Deposit $0.00
Stock Trade Fee (per trade) $0.00
ETF Trade Fee $0.00
Options Base Fee $0.00
Options Per Contract Fee $0.65
Mutual Fund Trade Fee $49.99
Broker Assisted Trades Fee $44.99
Commission-Free ETFs all

Platforms & Tools

Once again, for the ninth consecutive year, TD Ameritrade is number one for trading platforms and tools, thanks to desktop-based thinkorswim. Whether day trading, options trading, futures trading, or you are just a casual investor, thinkorswim is a winner.

Charting: As far as charting goes, thinkorswim is so advanced it is rivaled only by TradeStation. A few clicks of the mouse will have dozens of charts streaming real-time data. Even the pickiest trader will be satisfied with the 400+ technical studies available for each chart (the highest in the industry). Better yet, each study can be customized using thinkscript, thinkorswim’s proprietary coding language.

Trading tools: TD Ameritrade’s thinkorswim is home to an impressive array of tools. Highlights include virtual trading with fake money, performing advanced earnings analysis, plotting economic (FRED) data, charting social sentiment, backtesting, and even replaying historical markets tick-by-tick. TD Ameritrade also enables traders to create and conduct real-time stock scans, share charts and workspace layouts, and perform advanced options analysis. The rabbit hole goes as far as any trader’s imagination will take them. It’s a dazzling offering of choices that will set your mind spinning – in a good way.

Earnings Analysis: The thinkorswim Earnings Analysis tool is my favorite for planning ahead for earnings releases and assessing each company’s results afterwards. The tool plots price action and volatility before and after previous releases. It also pulls data from Wall Street analysts and crowd-sourced ratings from Estimize to plot EPS estimate ranges alongside actual results. The whole experience brings clarity with much less noise. It’s awesome.

No web platform: TD Ameritrade used to offer a browser-based trading platform, Trade Architect. Trade Architect was beneficial for casual investors because onboarding required less of a learning curve than thinkorswim. It was shut down in 2020 because it was flash-based and unsupported by modern browsers. As of early 2020, a new platform has not been launched yet to take its place.

Research

Thanks to the TD Ameritrade Network and a unique line-up of tools, TD Ameritrade provides investors a substantial research offering.

TV network: The TD Ameritrade Network, TD Ameritrade’s live streaming financial network, broadcasts live every day from 8:00 ET to 5:00 ET, and includes an excellent mix of market analysis as well as trader education. Schwab is the only other online broker to offer live broadcasting during market hours.

Market commentary: TD Ameritrade also provides written daily market commentary and analysis through The Ticker Tape. Content is widespread, covering day-to-day markets as well as general finance, savings, retirement, and trader education. Together with The Ticker Tape, TD Ameritrade publishes thinkMoney, a quarterly print (and digital) magazine, which focuses entirely on education. Bottom line, for stock and options trading, TD Ameritrade is great. For long-term investing and retirement-related content, I prefer Fidelity Viewpoints and Schwab Insights.

Social trading: TD Ameritrade’s website includes a handful of unique tools. For example, the Social Signals tool displays both a real-time streaming feed of algorithmically filtered brand-relevant tweets and a summary chart of the most-tweeted brands. Social sentiment can even be plotted on charts with thinkorswim. Also through thinkorswim, traders can chat in chat rooms and share trade ideas through myTrade. All in all, TD Ameritrade offers the ultimate trader community.

Customer Service

To score Customer Service, StockBrokers.com partners with customer experience research group Confero to conduct phone tests from locations throughout the United States. For our 2020 Broker Review, 280 customer service tests were conducted over ten weeks.

Results

  • Average Connection Time: st (14 brokers)

Mobile Trading

With mobile, TD Ameritrade took a different approach by offering not one, but two smartphone apps: TD Ameritrade Mobile and TD Ameritrade Mobile Trader. TD Ameritrade Mobile is designed for casual investors. Meanwhile, TD Ameritrade Mobile Trader is designed for the feature-hungry active trader. Both apps are fantastic.

TD Ameritrade Mobile: TD Ameritrade Mobile welcomes everyday investors with a customizable dashboard. Navigating the app is seamless and includes all the features any investor could want. Watchlists are streaming and fully customizable. Meanwhile, stock quotes include price alerts, news, clean (and fully-featured) charting, and third-party ratings are accompanied by PDF research reports. Placing trades is a breeze; the list goes on and on.

TD Ameritrade Mobile Trader: Looking at mobile apps specifically, Mobile Trader is my top pick for traders in 2020. Upon login, you are taken straight into your watch lists, which sync with thinkorswim. In fact, the app mirrors thinkorswim throughout. Charting includes all 400+ indicators from the desktop platform, and chart preferences sync in the cloud. Orders and alerts management is fluid, and I really love the easy access to Trader TV, which includes not only the TD Ameritrade Network, but CNBC as well.

AI and tech innovation: TD Ameritrade was one of the first brokers to offer an Alexa Skill, and in August 2020, it became the first broker to integrate with Facebook Messenger, embracing the future of artificial intelligence (AI) with its own chatbot. Next, in 2020, Apple Business Chat, which I am using more and more frequently to grab quick stock quotes. Then, in 2020, TD Ameritrade for Apple CarPlay and Android Auto both rolled out. All in all, TD Ameritrade is the undisputed leader in mobile and can be found everywhere you are.

Offering of Investments

TD Ameritrade provides everything one might expect of a full-service brokerage, from stock trading to retirement guidance. All account types are supporting. Also offered are both futures and forex trading. If there is one drawback, it is with international trading; TD Ameritrade customers can only trade US and Canadian-listed securities.

Education

Excellent education makes TD Ameritrade an easy winner for beginners. Organized into courses with quizzes, over 200 videos are available, which all include progress tracking. Also provided each month are hundreds of webinars and educational sessions, and the website gamifies learning by awarding points alongside badges to encourage further education.

If that wasn’t enough, TD Ameritrade even publishes its own magazine, called thinkMoney, and blog, The Ticker Tape. Education is also broadcasted through the TD Ameritrade Network. There is no better broker in which to learn the basics of the stock market than TD Ameritrade.

Banking

TD Ameritrade provides essential banking services to customers through 284 retail service centers across the United States. Like its closest competitors, TD Ameritrade offers mobile check deposit, online bill pay, and ATM fee reimbursement. TD Ameritrade also offers cash management accounts with FDIC-insurance protection. For investors who maintain high amounts of uninvested cash in their brokerage accounts, however, TD Ameritrade does not share the interest it earns.

Final Thoughts

TD Ameritrade is a technology-focused company that understands its customers and delivers a high-quality client experience.

Any investor or trader, new or seasoned, will find TD Ameritrade a great fit for their needs. The main gripe with TD Ameritrade used to be cost, but with TD Ameritrade now offering $0 stock trades, TD Ameritrade is undoubtedly on top in 2020.

About TD Ameritrade

Headquartered in Omaha, Nebraska, TD Ameritrade was founded in 1975 as one of the first online brokerages in the United States (1). As of September 2020, TD Ameritrade is home to over 11 million funded broker accounts and $1 trillion in total client assets (2). Each day the market is open, TD Ameritrade clients place approximately 860,000 trades, on average (3).

2020 Review Methodology

For the StockBrokers.com tenth annual best online brokers review published in January 2020, a total of 3,540 data points were collected over six months and used to score brokers. This makes StockBrokers.com home to the largest independent database on the web covering the online broker industry.

Participation is required to be included. Each broker completed an in-depth data profile and provided executive time (live in person or over the web) for an annual update meeting. Our rigorous data validation process yields an error rate of less than .001% each year, providing site visitors quality data they can trust. Learn more about how we test.

Keytrade Review

Review

The services offered by Keytrade Bank are more varied and complex than many other financially related websites and this is reflected in the website itself. Selecting “About Keytrade” at the very top of the page is perhaps safer initially than picking “Who are we?” a little lower and to the left. The latter selection initiates a video presentation in French with English subtitles and musical accompaniment.
In brief: Belgium’s first online investment site VMS-Keytrade began in 1998. In 2002, VMS-Keytrade became Keytrade Bank and acquired its banking status by taking over RealBank.
Keytrade Bank offers its clients investment fund services, portfolio services that allow clients to customize fund savings plans, as well as an online trading platform for Forex – Futures – CFD’s. The aforementioned trading platform can be tested free for up to 20 days. Forex services include extended hours trading and access to financial news and charts. Those two information streams are considered crucial for successful trading in the volatile Forex market.
Keytrade Bank also keeps its investment and trading customers informed via newsletters and warning and notification services that could be email or SMS based. Support services also include permanent assistance to commercial service clients by way of telephone and Skype.
Keytrade Bank’s banking services include current accounts, savings accounts and term accounts. A full range of insurance services is also available from Keytrade Bank.
The company has rates for all of its services clearly posted under a separate tab labeled “Prices”. Keytrade Bank has also invested a considerable amount of its resources in keeping its potential and existing customers informed about all aspects of its operations. Featured on the Keytrade Bank site is access to many training and informational videos, a frequently asked questions section and a Document Center that makes all the relevant forms available in PDF file format in English, Dutch and French.

General Information

Company Information

  • Headquarter : Belgium
  • Regulation : None

Account Information

  • U.S. Clients Allowed :
  • Maximum Leverage : N/A

User Reviews

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