Is Skyline Markets a scam broker?
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Skyline Markets was owned by Capital Markets Services Ltd. and is located at Majuro Marshall Island. They are binary options broker.
They use the latest version of SpotOption5 as their trading platform. The SpotOption platform is more popular among binary options brokers in the world because of attractive features like the trader has an option to trade with numerous assets with one login. Binary Options type call/put pairs, one touch and sixty seconds are its favorite features. For short and the long-term trading feature is expiry time ranging from 60 seconds upto 1 month and this makes Skyline Markets an attractive and great solution for traders. Other useful tools like double-up, buy me out and roll over increase traders winning rate.
Double up allows to quickly create another position for a trade if it is performing well. Buy me out allows the trader to sell their trade to another trader before expiry time run out. By roll over the trader can increase the length of SmartOption thereby increase the chances of his success.
Skyline Markets website is well designed and is easy to navigate. It can be viewed in all popular net browsers. All important information can be available with the click of the mouse.
Broker platform is available in three languages i.e. English, German and Arabic. If it had more languages, better it would have been, as traders prefer trading in their native tongue. Customer support can be reached by phone, email or live chat. Live chat is considered to be the most effective and fastest way to communicate with customers new or old.
For educational purpose, they have free videos, e-books, and tutorials and are available only to the registered traders only. They also offer one-to-one coaching and there is also market news and analysis section. These features improve trader’s success rate while trading. The free signal is also provided to traders to improve the success rate of their trades.
Skyline Markets is scam broker and is not registered with any financial authorities like Europe’s CySEC, British FCA, US’s CFTC, Australia’s ASIC to name a few. It is always better to go with regulated brokers as there is compensation policy in place if in case broker goes bankrupt or vanishes into thin air.
It is seen that most people lose money because of their greed for higher returns that are practically not possible but are claimed by companies in their advertisements like “get-rich-quickly” or “trade without much efforts” or “earn millions of dollars in a fortnight” or “make your money grow 2X or 3X within a week” and things like that. They fall prey to these online scam companies.
Many of the companies manipulate software for their own benefit and as long as people keep investing they keep on winning trades and no sooner they request for withdrawal their trades start losing with a final account balance of $ 0 or in some cases even negative balance.
Another way of scamming traders is giving bonus with conditions attached for 30X or 40X or 50X turnover of the total value for withdrawals. People believe in fake videos, false testimonials, huge return promises etc. These online scam companies apply each and every trick available so that it becomes virtually impossible for traders even to withdraw the profits they have fairly earned.
Skyline Markets is scam broker and if you are a victim then you can approach MyChargeBack for your fund’s retrieval. Since challenging online scammers can be very complex and your mistakes can cost you a lot. At MyChargeBack they analysis each case and assist you through the entire process and see to it that your funds are recovered from Skyline Market fraud. Skyline Markets have shut their operations.