Regulated

Comment

Saint Vincent and the Grenadines

2021-01-01

Website

https://skyprimefx.com

Rating Index

Software

Licensed

Risk Control

Experience

Institution

Industry Classification

Unqualified

Trading Platforms

MT4

Basic Information

Registered Region

Saint Vincent and the Grenadines
Operation Status

Normal
Operating Period

2021-01-01
Deposit Methods

Bank Transfer, Credit Card, Crypto
Website

https://skyprimefx.com
Market Type

Foreign exchange
Support Languges

English
Main Business

FX, commodities, CFDs
Business Type

Multi-asset broker
Social Media
Contact Details
Type of Accounts

Standard, Demo (valid for 30 days)
Trading Platforms

MT4
Withdraw Methods

Not disclosed
Auto Trading

EA supported

Pros and Cons

**Pros:** Regulated in Saint Vincent & Grenadines; offers a variety of trading instruments including CFDs and commodities; user-friendly account setup process; supports automated trading via EAs. **Cons:** Limited customer support channels; no information on social media presence; only serves clients in specific regions excluding major markets like the Americas and Europe.

Company Background

Sky Prime International LTD was founded in 2021 and is headquartered in Saint Vincent and the Grenadines. As a relatively new entrant in the forex and CFD trading space, it aims to provide quality financial services with a strong technological foundation. The focus is on Asian and Pacific markets, with a notable absence of services to clients from the Americas, Arab states, and Europe, likely due to regulatory compliance.

Fund Security

Funds are secured under regulatory frameworks applicable in the region of Saint Vincent and Grenadines. The company likely adheres to standard practices including the use of segregated accounts to protect client funds. However, specific details about compensation schemes or insurance coverage are not disclosed, highlighting the need for potential clients to conduct thorough due diligence before engaging with the broker.

Account Opening

Opening an account with Sky Prime is streamlined and user-friendly, requiring minimal personal information. Clients can select from standard and demo accounts, with the demo account being valid for a 30-day period. The registration is immediate, allowing swift access to trading platforms without the need for lengthy verification processes, which may appeal to new traders seeking quick entry into the market.

Trading Fees

Trading fees on Sky Prime are structured around competitive spreads and potential commissions. Specific starting spread values have not been disclosed. Additionally, there may be fees for inactivity, deposits, or withdrawals. Prospective traders should review the fee schedule directly on the website to understand the total cost of trading.

Trading Instruments

Sky Prime offers a varied selection of trading instruments, primarily focusing on forex pairs and CFDs across different asset classes, including commodities like precious metals and cryptocurrencies. While an exact count of available instruments is not provided, the emphasis on diversity suggests that traders can engage in various markets to achieve investment goals.

Trading Technology

The primary trading platform used by Sky Prime is MetaTrader 4 (MT4), known for its reliability and advanced feature set. The platform supports various order types and boasts robust charting tools. The mobile app is designed to facilitate easy trading on the go, enhancing user accessibility. However, information on execution speed and technical reliability remains unverified.

Research and Education

The broker provides educational resources that cater to both novice and experienced traders, although specifics on the type and depth of educational materials available are not disclosed. Users are encouraged to explore market analysis tools, economic calendars, and trading guides that may enhance their trading knowledge and expertise.

Customer Support

Sky Prime's customer support is currently limited, with no available live chat or extensive contact options. Response times and the quality of assistance are unclear based on available information. Users may find support primarily through email or other indirect communication channels, suggesting potential limitations in real-time service.

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Rating Index

SkyPrimeFX

Regulated

Legal Environment

License Value

Risk Management

Investor Protection

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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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