SkyLine Markets Review: A Dangerous Brokerage Ceased Operations
SkyLine Markets is non operational today, which could only mean they bankrupted and then ceased operations or ran away with your deposit. Whatever the reason is, the broker was a dangerous game to play.
Just like Cryptocycle, this broker was a fraudulent firm, grabbing every chance they get to scam traders, which our SkyLine Markets review will prove. Join us in exposing this shameless brokerage for who they really are, while learning how to recognize and avoid scams in the future.
Who Is SkyLine Markets? All About SkylineMarkets.com
SkyLine Markets was a subsidiary of Capital Markets Limited, a brokerage firm based in Marshall Islands. Since the broker ceased operations, it was challenging to find a reliable source of information, however, the mere fact that the broker is closed is a major red flag.
They were established in 2015 and since then they have been operating without a license. If you read our reviews, you will know the best option to ensure a safe trading experience is to take the path of choosing regulated brokers that have a compensation fund. If something like this happens to the broker you are trading with, it’s a good thing to know that you are safe.
|Reliable Broker Must Have
|SkyLine Markets, Capital Markets LTD
|Transparently displayed in the disclaimer or legal documents
|Within your legal jurisdiction – local regulator
|Your country or the country whose license applies in your legal jurisdiction
|The older the domain – the higher the possibility the company is trustworthy
|Domain should be from local or international zones, no .xyz, etc.
|Financial Authorities Warnings
|Data is hidden
|Phone, email, social media, web form
|If a withdrawal is possible
|Transparent fees – list of spread and commissions
|If Active on Social Media
|Often present on social media
The broker currently closed down, however, even while they were operational, they didn’t have any type of regulation, making them unreliable to use. Furthermore, the broker is not regulated by the Financial Conduct Authority (FCA) in the UK, or the Securities Exchange Commission (SEC) in the US, where it mostly operates from.
Similar to GLE Markets, SkyLine Markets claimed to be located in the UK, however, it was confirmed that they are an offshore brokerage located in the Marshall Islands. Offshore brokers can get a hold of a license from an offshore regulator pretty easily, so the fact that SkyLine Markets has been unregulated since it was established raises serious questions about their reliability.
SkyLine Markets Broker Profile
On Skyline Markets, you can trade 81 different stocks, commodities, indices, and currencies. High/Low, Pairs, Long Term, 60 Seconds, One Touch, and FX/CFD are among the different trade kinds of binary options. With a minimum deposit requirement of $250, they offered a simple web trader without any beneficial features.
The SkyLine Markets trading platform was only available as a web trader, and the demo account was not offered. Scam brokers will often use affordable trading platforms without trying to accommodate their traders and fail to provide a demo account so experienced traders won’t see through their scams. Don’t expect the SkyLine Markets refunds without issues.
|Financial Instruments On Offer
|Education or Extra tools
Reasons To Avoid SkyLine Markets
First things first, they are unregulated. Regulated brokers can offer a compensation fund and it’s much easier to trade with them. Second, they lack transparency, while regulated brokers will always have a transparent list of spreads and commissions on their website. Third, with brokers like SkyLine Markets, you are more likely to encounter withdrawal problems.
Last but not least, there are absolutely no reviews from traders, which raises suspicions. A brokerage that has operated since 2015 but has no reviews can’t mean anything good, so avoiding a broker like this is your best chance of making it in the trading industry.
Who Are the Traders They Cater To?
Whether the broker ceased operations because they ran away or simply because of going bankrupt, either way, it makes them equally dangerous. Brokers like SkyLine Markets will constantly call you and push you into depositing more and more each time. Reliable brokers would never call you and say that you need to deposit more money to be able to withdraw,
SkyLine Markets broker was known for targeting traders from various nations, including the United States, Canada, the United Kingdom, Australia, and Germany. To operate from these nations, brokers would have to be regulated by reputable authorities such as BaFin in Germany or ASIC in Australia. Needless to say, they operated without a license.
Weighing the Pros and Cons
Decoding SkyLine Markets: A Brief Analysis
We hope our SkyLine Markets review helped decode the broker so you can avoid similar brokers in the future. Remember to stay away from unregulated brokers lacking in transparency and safety. Although traders are safe for now because the broker ceased operations, be advised that the possibility of them reemerging under a different name still exists.
Having that in mind, researching the broker head-to-toe is crucial if you want a reliable trading experience so make sure you check all facts and trust your intuition. Are you prepared to improve your trading abilities? Contact us right now to learn about the ideal trading solutions that are suited to your requirements. Your future trading success is here and all you need to do is reach out!
What Is SkyLine Markets?
SkyLine Markets was a brokerage company claiming to be located in the UK, however, it was proved that they are nothing but an offshore brokerage lacking in regulation.
Is The SkyLine Markets Real Or Fake?
The SkyLine Markets scam is real but the brokerage is not. Not only that they are a fake offshore broker but they also ceased operations making them very unreliable.
What Are The Trading Binary Options Of SkyLine Markets?
To accommodate different trading preferences, SkyLine Markets provides a variety of binary options, including High/Low, One Touch, Boundary, 60-Second, Pairs, and Long-Term options.