Sky Gold Market Review: All About This Broker

This is just  another anonymous fish in the ocean of anonymity, that is trying to present itself as legit so it can scam people all around the world. The only information that we managed to find about Sky Gold Market is that their location is in Seychelles.

Since Seychelles is considered an offshore haven for many investment scams, since they don’t overlook forex trading, you already know that Sky Gold broker is unregulated. So, if you were planning to invest your money here and earn some profits on it,  this is not the right place for that!

And this honest Sky Gold broker review will shine the light onto this fraudulent broker and all of their scammy tactics.

We also encourage you to read our scam broker reviews about Cambrill and PredCoin, since your funds are at risk with them!

Regulation and Safety of Funds at Sky Gold Market

A lot of unregulated and unlicensed brokers like to present themselves as award winning and innovative companies. The truth on the other hand is much different.

Sky Gold has failed to mention basic details such as phone number and account types. So it wasn’t that surprising to see that they also didn’t disclose anything about license number and regulation.

Therefore, we can make a proper assumption that this is just another luring scheme. This broker is not here to help you make any money, but just to extract as much as possible from you.

Additionally, we found that they have an official warning by the AMF, which is a Canadian regulatory body. This is more than enough to stay away from Sky Gold and Cambrill, as both of them are offshore unregulated scams!

Sky Gold Market Trading Software 

Sky Gold did list and mention on their website that they offer Web Trader and Trader 7. To be honest, we don’t know which one is worse.

Web Trader as well as Trader 7 are very much basic and they don’t offer any tools or features that industry standards MetaTrader4 and MetaTrader5 do.

On top of that, if you wish to use the Web Trader, it will ask you to register first. All in all, it is just a big waste of time, since the speed of trading executions and data legitimacy is poor.

Sky Gold Market Account Types

On the Sky Hold brokers website, we saw that they offer four different account types. Thode include the following ones:

• Beginner – $250
• Intermediate – $20,000
• Advanced – $50,000
• VIP – $100,000
  

This is a standard strategy among fraudsters. They will lure you with better trading conditions to put more money in the trading account. And after you do that, they will take all that you have.
On top of that, Sky Gold also didn’t provide their clients with any Demo account. Because they don’t offer one, they will force you to open a real one and take all of your money.

Deposit and Withdrawal Options

The company accepts only wire transfers and debit/credit cards. Of course, to deposit money you will not have any troubles but it’s a completely different story when it comes to withdrawals.

One strange fact in their withdrawal terms is that they are limiting bank transfer withdrawals. On top of that, there are requests for additional charges before a withdrawal can happen.

You have to remember that those kinds of requests are forbidden by the law and you should decline them

Offshore Brokers’ Fraudulent Tricks

Everybody likes the idea of another income, especially if all you need to do is invest. The internet gives the impression that making money through investing is more accessible than ever to non-experts. So, many scam brokers see this as a great opportunity and they lurk online for inexperienced traders through flashy advertisements and fake stories of satisfied clients.

In case you fall for it and give your information, they will call you non-stop all in order for you to invest. But of course, these fake brokers don’t actually invest the money you give them even though they very confidently assure you that you are generating great profits and should invest more.

And after you make some of that false profit, their agents will give you a call saying you need to invest more and if you do so there will be an enormous profit you will likely make. There is also the story that if you don’t invest more, you will lose all of your profits, which of course would never happen with a legit broker.

Sky Gold Market Summary

This Sky Gold Markets review was conducted to give you a good explanation of how scam brokers operate. This Seychelles-based investment scam allegedly offers its clients an opportunity to trade on the forex market as well as crypto, metals, and many other markets.

Additionally, they are operating without a license and follow no regulations and therefore offer no safety for your funds. On top of this, they have been issued a warning by AMF.

We remind you once again to always be cautious where you invest your funds, and stay as far as possible from this unscrupulous broker  

FAQs About Sky Gold Market Broker