Looking to read Sky Gold Market reviews, you are in the right place. Should you trade with Skygoldmarket.com? Read reviews to know about this forex broker whether to use or not.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is Sky Gold Market?
Sky Gold Market FX otherwise known as Skygoldmarket.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims registered address in Eden Island, Seychelles.
On the website, Sky Gold Market offers different account types such as —-
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
What We Discovered about Skygoldmarket.com Regulation
First of, Skygoldmarket.com presents a contact address in Eden Island, Seychelles. A check of the databases of the Financial Services Authority of Seychelles (FSA) confirms that there is no authorized forex broker using the Sky Gold Market trading name and domain.
The situation always gets worsen for unlicensed brokers when some institutions issue a warning against them. Another financial authority from The Autorité des Marchés Financiers (AMF) has blacklisted the broker for public to see.
Furthermore, this broker does not offer money back guarantee which means trading on such platform is clearly putting your funds at a risk of scam.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Sky Gold Market Minimum Deposit for Traders
The broker Sky Gold Market FX has specified $250 as its minimum deposit based on its account type. In contrast, licensed FX brokers clearly spell out their regulations and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
Sky Gold Market accepts wire transfers and debit/credit card transfers.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Sky Gold Market Provides What Trading Software?
Sky Gold Market offers 2 different trading softwares. The platform comes with some basic tools and custom indicators but nothing more advanced.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
With that said, the Sky Gold Market leverage is fixed at 1:500. Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Sky Gold Market Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that Skygoldmarket.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Sky Gold Market located at Skygoldmarket.com appears like a trustworthy trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
Was the information helpful? Please share with us your experience in the comment section below. Thank you!
Heard of Investingor, Forextimeprime brokers? Read Details