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SkyFx
Unregulated
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SkyFx

Saint Vincent and the Grenadines
Not disclosed
2
1.66
Rating Index
Software
6.07
Licensed
0
Risk Control
1.2
Experience
5.48
Institution
0
Industry Classification
D
Unqualified
Trading Platforms
Proprietary platform

Basic Information

  • Registered Region
    Saint Vincent and the Grenadines
  • Operation Status
    Abnormal
  • Operating Period
    Not disclosed
  • Deposit Methods
    Not disclosed
  • Website
  • Market Type
    Foreign exchange
  • Support Languges
    English
  • Main Business
    FX, cryptocurrencies, commodities
  • Business Type
    FX broker
  • Social Media
  • Contact Details
  • Type of Accounts
    Not disclosed
  • Trading Platforms
    Proprietary platform
  • Withdraw Methods
    Bank Transfer, Credit Card, E-wallet
  • Auto Trading
    Not supported

Pros and Cons

Pros: Some users may appreciate the availability of a proprietary trading platform. Cons: SkyFx has an unregulated status, a low score on , and lacks transparency regarding account types and trading fees, leading to potential concerns about safety and reliability.

Company Background

SkyFx Ltd is a broker based in Saint Vincent and the Grenadines. Established within the last 5-10 years, it operates with minimal regulatory oversight, which may raise red flags for potential investors. The official website indicates a focus on supporting a diverse range of trading instruments, though significant details about its operations remain vague.

Fund Security

SkyFx does not provide adequate information regarding fund security measures like segregation of client funds or participation in compensation schemes. Given its unregulated status, investors should be cautious as there is no assurance of fund safety.

Account Opening

Details regarding account types, minimum deposit requirements, and the account opening process are notably withheld, making it challenging for potential clients to assess the broker's offerings. The absence of clear guidelines raises concerns about the onboarding experience.

Trading Fees

The fee structure for SkyFx remains unclear, with no specified information on spreads, commissions, or additional trading costs. This lack of transparency can deter prospective traders seeking to make informed decisions.

Trading Instruments

SkyFx claims to offer a range of tradable instruments, including foreign exchange pairs, commodities, and cryptocurrencies. However, specific details concerning the number of available instruments or examples are not provided.

Trading Technology

The broker utilizes a proprietary web-based trading platform, which may not possess the reliability of industry-standard platforms like MT4 or MT5. The available tools and technical capabilities of the platform are not extensively detailed, which may impact user experience.

Research and Education

There is a lack of information regarding educational resources or analytical tools provided by SkyFx. Potential clients may find it difficult to access market insights, webinars, or tutorials, which are crucial for enhancing trading skills.

Customer Support

Customer support appears to be available through email and phone, with operation hours undisclosed. The response times and overall service quality remain unverified, further heightening concerns about client assistance.
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Rating Instructions
Rating Index
SkyFx
SkyFx
Unregulated
Legal Environment
6.07
License Value
0
Risk Management
1.2
Investor Protection
5.48
Regulatory Policy
0
  • Software

    Evaluates the regulator's legal foundation, organizational structure, leadership experience, and enforcement capacity. Focuses on whether it enforces strict regulations, maintains transparency and fairness, and engages in international cooperation and technological supervision.

  • Institution

    Analyzes the regulator's policy framework, decision-making process, and enforcement transparency, including rule-making, internal control, and policy implementation effectiveness.

  • Licensed

    Assesses the market value of the licenses issued by the regulator, including entry thresholds, compliance costs, approval duration, and overall global recognition and influence.

  • Risk Control

    Evaluates the regulator's financial stability and risk management capacity, including budgeting, reserves, revenues, expenditures, and ability to respond to market or financial shocks.

  • Investor Protection

    Examines the regulator's complaint-handling and investor protection systems, assessing fairness, responsiveness, and enforcement effectiveness in safeguarding investor rights.

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