Keytrade Luxembourg

@ Bugler - This happened to me but with Keytrade Belgium. I sent off my application before Xmas last year but around a week later, I got an email and was informed that my application was declined and no reason given. I emailed them a few times and tried to get a reason but they didn't give me one.

I was rather annoyed and was about to give up but an application form which I requested but took quite a time to arrive - finally came in the post.

I thought perhaps using the official form rather than the printed application form from the web (though both are exactly the same) might work a bit better. And so I was rather surprised that second time around with the exact same information my application was approved.

So I would say - don't give up. Although your query is about Keytrade Lux - there may be a similar approval process and a 2nd application may get through.

I figured there was no great level of thought gone into it - I guessed a second application may well have been accepted.

@ Sim: I didn't pursue it at all, as I'm aware banks tend to be unwilling to disclose reasons for declination.

What annoyed me was they had gone to the trouble of asking me to send a certified copy of ID, and then declined the application.

For those who opened a Term account with no interest in the trading aspect, did you still fill in the "INVESTOR PROFILE (Mandatory under CSSF Circular 2000/15)" section of the application form? Seeing as it says its mandatory I guess you did, just wondering what to fill in there. Low risk, little to invest etc??
Anyone who was successful opening an account like to share what they entered?

I believe I completed it but did as you say, and simply stated I'd no tolerance for risk, I also scribbled "Fixed Term only" on that piece. Maybe that's why they declined me

KeyTrade Belgium have now opened an account for me, no problem. The process was even easier than that of the Lux arm.

bugler said:

I believe I completed it but did as you say, and simply stated I'd no tolerance for risk, I also scribbled "Fixed Term only" on that piece. Maybe that's why they declined me

KeyTrade Belgium have now opened an account for me, no problem. The process was even easier than that of the Lux arm.

Click to expand...

I did the same thing on my application, I scribbled that I'm only interested in opening a savings account. After they received my application they emailed to tell me that they can't open an account for me as they're an investment bank and don't have 'savings acccounts'.

The 'term account' is pretty much as a 'savings account' anyway, you get interest and are covered by the depositors guarantee, so I emailed back asking them to go ahead and open the account.

Thanks Chew_Chew/bugler sounds like the best thing to do is just fill it in with the least risk possible and not mention that I only what the deposit account until I'm approved. I'll try it and see, fingers crossed.

bob_bob said:

Thanks Chew_Chew/bugler sounds like the best thing to do is just fill it in with the least risk possible and not mention that I only what the deposit account until I'm approved. I'll try it and see, fingers crossed.

Click to expand...

Yea, just tick the least risk option. You need never use anything other than the 'term account' if that's all you're interested in.

Credit Agricole looking to sell Keytrade Lux

via Bloomberg
"Credit Agricole tested the market in the past weeks for a possible buyer for its online unit Keytrade Bank in De Tijd reported, citing people it didn’t identify. Keytrade is the biggest online stockbroker in Belgium with more than 140,000 clients, according to the newspaper. No investment bank has been mandated to manage a sale, the newspaper said. "

Has anyone any thoughts about this?

Apologies for resurrecting an old thread, however...

I've being reading this thread with great interest.

- Has anybody opened an account with Keytrade Lux (or Belgium) since the last thread?

- Has Keytrade been sold?

- Is it still a safe bet for deposits?

I figured I would add some additional information of relevance to the thread here, rather than starting a new one.

Credit Agricole, parent company of KeyTrade, has sold Emporiki Bank for €1.
Source: Irish Times, October 17th 2012 (can't post URLS yet)

Just wondering if this has any effect on peoples opinions on the long-term safety outlook for KeyTrade? Getting rid of Emporik somewhat distances Credit Agricole from the financial disaster in Greece.