This review exposes the Skyam Invest Ltd Scam broker that masquerades as a leading international Forex and CFD broker
Contents
About Skyam Invest Ltd
Skyam Invest LTD is an online trading platform that will provide you with variety of financial products to trade, including Forex, commodities, indices, futures, and cryptos.
The minimum deposit is $1000 to start investment. You will pay a $50 deposit fee from each deposit and there are many portals available to welcome all your deposit.
Skyam Invest Ltd offers the popular metatrader 4 trading platform available in iOS, android and window versions. Which means that you allegedly can have a variety of services and functions like expert advisors and account management options.
Is Skyam Invest Ltd safe?
Skyam Invest Ltd is considered not safe, as it is completely anonymous and not regulated and licensed by top-tier financial authorities, like the CySEC in Europe, UK FCA, the Australian ASIC and the US CFTC. Unfortunately most important thing about this broker does not turned out to be right.
Should one trade with Skyam Invest Ltd?
Skyam Invest Ltd presents itself as a leading provider of Forex CFDs trading internationally. Unfortunately, it doesn’t hold any license to provide such services and the company is completely anonymous and devoid of physical contact. These are enough proofs to show that it would not be a good idea to invest with Skyam Invest Ltd.
Breakdown
- Aforementioned, Skyam Invest Ltd 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 Skyam Invest Ltd 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.
- On its website, Skyam Invest Ltd advertises leverage as high as 1:400. This is another clear indication that the broker isn’t licensed in top regulatory jurisdictions like U.S., Australia, the EU, or the UK, because such leverage ratios are banned in most jurisdictions. In other words, whenever you see a broker offering leverage of 1:100 or higher, you may rest assured it isn’t regulated.
- While the people running Skyam Invest Ltd are obviously scammers, they are offering the metatrader4 (MT4) platform for trading. Nevertheless, it is advisable to contact one of the many legitimate brokers that offer MT4.
- 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.
The Skyam Invest Ltd scam broker is unfortunately nothing new on the market, there are many similar brokers, like Algovibe, OrangeFX247 and InfyFX . They all work the same way. They do not have appropriate licensing.
Conclusion
Skyam Invest Ltd is an absolute scam, there’s no clear information on where the company resides. In most cases, such platforms claim to reside in the UK. These are false claims meant to drive sign-ups from the European Union.
As usual in such cases our best advise is to deal only with properly regulated brokers, like the ones licensed and authorized by the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC).
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Skyam Invest Ltd Broker
$1000
Pros
- Metatrader4
Cons
- unregulated
- no safety of funds
- anonymous
- high minimum deposit