Trying to find out either is Sky Gold Market scam or genuine before you invest in this company, then you made the right decision. This review shows that the Sky Gold Market is in reality a scam that will disappear in no time.
Contents
About Sky Gold Market
Sky Gold Markets presents itself as a top broker that will provide you with a platform to trade the financial market. They will give you access to trade on over 40,000 assets types including Forex, commodities, stocks and crypto currencies.
Sky Gold Market claims to have been in the market for 15+ years and will supposedly provide you with high-quality access to financial markets.
Minimum deposit to start trading is $250 and leverages extend up to 1:500.
The broker claims to be regulated and offers unparalleled trading conditions.
Should you trust Sky Gold Market?
Our research clearly shows that Sky Gold Market is an unauthorized and fraudulent Forex and CFD platform that you should stay away from. It lies about its history and there are a lot of contradictory information on their website. Below is why Sky Gold Market is a scam.
Strange broker, False history
On their homepage, Sky Gold Market says that it has 15+ years of excellence and innovation. This is quite strange, because their about page claims that the broker started work in 2016, empowering clients by helping them take control of their financial lives.
To get an idea about how old the Sky Gold Market broker really is, we did a little background check on their website skygoldmarket.com domain, using a third party domain name database. We discovered that the website was non-existent before 2022.
The website was first registered 21 August, 2022, meaning that the business is less than a month old at the time of writing.
In other words, Sky Gold Market is lying about their years of existence, it is trying to create a false belief of trust.
Unregulated entity
- Sky Gold Market is unregulated as they should be regulated if they want to target customers on regulated markets like the European Union, including the UK.
- Unlicensed brokers like Sky Gold Market do not have to report to a governing body. This means that if they scam you in any way, whether it be “glitches” or “malfunctions” causing server slippage in their system, or you go to make a withdrawal and they don’t process it (steal your money), you are out of luck. Beyond posting a bad review online, there is little you can do because these brokers have no legal authority to answer to.
- Bear in mind that unregulated brokers in general are completely uncountable for the way they handle your money, which makes any dealings with such entities extremely risky. Basically that is how people usually get scammed.
Is Sky Gold Market Safe?
Sky Gold Market is considered not safe, as it is not regulated and licensed by top-tier financial authorities, like the CySEC in Europe, UK FCA, the Australian ASIC, FSC in South Africa and the US CFTC.
The easiest way to check if a broker is licensed is by looking it up in the registry of the respective financial regulator – be it the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission, the Financial Sector Conduct Authority (FSCA). All of them keep such registers and they are publicly available.
Sky Gold Market is an unauthorized and illegal broker. Deposits with this broker are not protected, the company can’t legally offer its services in almost any country. It is a total scam.
How Sky Gold Market works?
It is risky trading with an unregulated broker like Sky Gold Market, as most of them turn out to be scams. Problem starts immediately you make a deposit to a scam platform. They will use many tactics to make you deposit more.
Scammers will take deposits from you but never let you withdraw anything, because these brokers often present silly legal documents and conditions that is out of the question as far as legit brokers are concerned. But it will just be a lie to get more money from you.
Sky Gold Market will request that you send them more money while declining all your efforts to withdraw your deposits.
At this point, most people will realize that they have fallen victim to a classical Forex trading scam.
Conclusion
Sky Gold Market is a strange broker with fake and contradictory company information. It is not regulated any where and it is a scam.
Their crypto deposit method is irreversible. There are reasons why you should away from them.
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Sky Gold Market Broker
$250
Pros
- Website
Cons
- Unlicensed
- Contradictory details
- Fake claims