After numerous warnings issued by prominent regulatory bodies, it seems as though the cybercriminals behind the Keystone Market scam have abandoned their site. The unfortunate clients that were duped into investing with the scheme are left hanging, with little prospects of having their funds returned.
Not all is lost, and the recovery still remains a possibility as you will see in our Keystone Markets review.
| Regulated by: | Unlicensed Forex Broker |
| Is This Company Safe? | No, never invest with unregulated companies! |
| Known Websites: | keystone-market.com (inactive) |
| Have Warnings from: | OSC, AMF, CSA, CONSOB, IOSCO |
| Registered in: | N/A |
| Operating since: | 2022 |
| Trading Platforms: | Web Trader |
| Maximum Leverage: | 1:200 |
| Minimum Deposit: | $5,000 |
| Deposit Bonus: | N/A |
| Trading Assets: | Forex, Cryptocurrencies, Stocks, Commodities, Indices |
| Free Demo Account: | No |
| How to Withdraw from This Company? | Contact our experts in order to start your chargeback procedure. |
Is Keystone Market a Scam Trading Company?
On one side we have anonymity, missing company info, omitted regulatory information, unreliable software and undependable communication channels. On the other, we have nothing that would present Keystone Market as a trustworthy broker. You can already assume which side will prevail. But let’s perform the due investigation before we make a final verdict.
Firstly, we tried tracking the brokers headquarters location. But we had no clues to know what jurisdiction to start from. So we went through the major Tier 1 databases that financial watchdogs keep. We weren’t in the least happy with the search results, though. As it turns out, FCA, CySEC, ASIC, CONSOB and CNMV are not familiar with this website. If you remember Cronosca, we had the same problem determining who that scam is.
After we’ve established that our broker in question isn’t supervised by a leading financial institution, we weren’t so surprised by their behavior. Although legal docs on the website declare that Keystone Market follows the MiFID directive, we see no hints of it.
If this claim was any true, the broker would be obligated to absolute transparency, and Keystone Market shows none, as you can make sure of it yourself. We don’t believe Keystone Market regularly reports their monetary transactions to the jurisdictional regulator either.
But that is not the only problem with a broker being unregulated. What matters the most isn’t provided – security of funds. This is achieved through segregated bank accounts, which this broker doesn’t ensure.
Then we see the leverage is 1:200, while all Tier 1 regulators have limited it to 1:30 or 1:50. Negative balance protection is another restrictive measure that has a purpose of reducing the trading risks. Keystone Market doesn’t allow it, either.
You can’t help but realize Keystone Market isn’t safe for investments. Their goal is to expose you to a risk so high you can never financially recover if you get dragged into their scheme.
A Known Fraudulent Scheme
Any confidence trickster is walking a fine line between remaining hidden, or gaining more ill-gotten goods. Because of this, many of these con sites only last for a couple of years at best, due to the attention they inevitably attract from the authorities.
Keystone Market broker is no different, and since it was launched it has been noticed by regulatory agencies. Multiple national tier-1 regulators have already blacklisted the firm, including OSC, AMF, CSA and CONSOB. The independent watchdog agency, IOSCO, has since forwarded a warning of their own.
Keystone Market Reviews
Perhaps it’s because Keystone Market is relatively a new domain. Or maybe because they operate under the radar. But it appears that there’s no experiences and opinions of traders on this broker yet. We’ve gone to TrustPilot, SiteJabber and some other sites for reviews and found none on Keystone Market. It’s just a matter of time, though. The way this broker conducts business will not get them any positive feedback, that’s for sure.
Where Does the Broker Operate? – Countries of Service
Keystone Market doesn’t have a particular preference for one country, language or a group of traders. They apparently operate on a global scale, as their victims seem to come from a variety of countries. It’s as if no retail trader is safe from this sneaky and dishonest scheme. We’ve assembled a list of the states that have a leading number of victims so far:
- United States
- Canada
- Netherlands
- India
- Germany
Deceptive Company Practices – How is the Scam Orchestrated?
Have you ever been ruthlessly pestered by someone trying to sell you awkward deals? Perhaps via unsolicited phone calls, emails or messages on your social network profiles? Also, do these offers sound too good to be true? Well, then you’ve got yourself a proper near-scam experience. This is the kind of behavior we have also detected with Crypto-Guider, just the main difference from today’s broker we’re reviewing is that the first one focuses on crypto assets.
Either way, all these examples of sham misuse the Terms and Conditions and do not abide by any regulatory framework. This leaves space for all kinds of fraudulent behavior and deceptive tactics that eventually rob the trader and leave them bankrupt.
Keystone Market will first ask for a large deposit so you can open an account. Then they offer you a bonus that seems like great help. The highly controlled trading environment also seems to work in your favor as you pile up loads of cash.
Several friendly agents will keep breathing down your neck and asking for more deposits. You may even be manipulated into developing illusory romantic feelings for one of them. It’s all well-calculated and for the purpose of draining your bank accounts and credit cards.
Keystone Market Choice Of Trading Accounts
The whole Keystone Market website is made of pictures that were poorly designed and put together without sense and reason. On this page, we see the photo of trading accounts but the introduction to the choices makes no sense. The website says the features are listed above but the picture of the accounts in offer is below the text. The sentence isn’t even properly finished and ends with an unfinished if-clause.
While the FAQs say that the minimum deposit for the starting account is only $100, the account description says you need to invest at least 5 000 €. Still we could not see a single feature in the entire offer that regulated brokers don’t already offer for a far lower price. Along with all the other discrepancies and inconsistencies, we cannot see a single reason anyone would want to invest here!
The choices of packages and the basic expenses for opening them are the following:
- Green Account – 5 000 €
- Premium Account – 15 000 €
- Platinum Account – 50 000 €
- Executive Account – 100 000 €
- Presidential Account – 250 000 €
Can I Use a Demo Account?
Obediently following the registration step-by-step only led us to open a real trading account. No option in between was offered as a means of getting a Demo account unlocked.
Even after we were let into the client area, we weren’t able to do anything. An investment was needed so we’d be able to navigate the trading zone and use the features it includes. The single message that kept reappearing was telling us to patiently wait for the support agent to contact us. That’s probably one of the mandatory steps of the scam procedure. Demo account is, by all means, not available.
Is It Possible to Withdraw Profit From My Keystone Market Account?
Keystone Market at first convinces you account funding and payment processing is fast and as safe as it could get. The website only ever reveals two possible withdrawing channels:
- Credit Card
- Bank Wire
How strange it was to see another suggestion in the client area. That part of the website actually only allows you to cash out your profit via crypto or credit card. But before you are able to do that, you have to submit every single piece of information about yourself. ID photo, utility bill, water bill and bank statements are just some of them, it’s insane how demanding the scammer is. Needless to say, this breaks every single regulatory rule on privacy and AML standards.
Not even then do we believe anyone would be able to withdraw anything. Scam projects such as this one make a living by keeping the entire deposits made by clients. So you can expect any kind of problem appearing that Keystone Market will use as an excuse to prolong the process and eventually deny your withdrawal request.
The Site Is Gone – How Do I Get My Money Back?
Even though the people running the Keystone Market fraud had already seemingly disappeared, this doesn’t mean they have vanished from the face of the Earth.
Your stolen money is not gone yet, and there are still means by which you may recover it. Collect as much data as you can from your previous interactions with these swindlers, and get in touch with our staff.
Our experts have the experience, tools and strategy necessary to help you with your endeavor. We are available 24/7 via the live chat, which you may use to book your free first consultation.
I Was a Victim of Keystone Market Scam, What Should I Do?
As definite as the scam may seem at first, we assure you, your funds are not gone forever. Especially if you react in time and get in touch with us. Our agents are available around the clock, and they’re tirelessly working to help traders in peril, such as yourself. So do not feel ashamed if you’ve been scammed. It’s happening more often than you know. It’s what our team encounters on a daily basis.
So trust us when we say we have plenty of experience in dealing with these con artists. We’ll offer you advice or just land you a listening ear if that’s what you need. We can also help you start the chargeback and plan a working strategy to restore your funds.
