Skyam Invest Ltd presents itself as one of the best forex brokers in the industry and has seemingly received awards from various sources, yet unfortunately, it is not regulated by any official body and appears to be completely anonymous. As such, we strongly suggest that you should heed caution when considering using Skyam Invest Ltd. In fact, it displays all the necessary characteristics of a scam; we, therefore, advise you to read this complete Skyam Invest Ltd review before deciding whether or not to invest in them.
Website – http://skyamltd.com/
Address – NA
Regulation – Unregulated
Warnings – Not recommended by review website like Fraud brokers
Skyam Invest Ltd claims to have branches in the UK, Cyprus, New Zealand, Hong Kong, and Cambodia and promotes its foreign exchange trading services worldwide. This cannot be accurate because their website is not subject to regulation in any country.
There appears to be an absence of any legal documents on the broker’s website, which serves as evidence of its questionable legitimacy. An additional intriguing fact is that the only contact information available is a Gmail account. While Google Mail is a legitimate service, it would be unlikely for an authentic business to use it as its main professional channel. With no listed corporate address or background details given, this further supports the conclusion that Skyam Invest Ltd is fraudulent.
Skyam Invest Ltd utilizes the widely-used MetaTrader4 platform in the forex industry, yet their lack of regulation renders them little more than scammers. Our security protocols were immediately triggered when we encountered the MT4 file, there was a high risk it could be infected – not only by viruses but also due to Skyam Invest Ltd’s unscrupulous behavior. Therefore we would advise users to err on the side of caution and avoid opening it.
The spreads provided by Skyam Invest Ltd’s trading platform to access were a meager 2 pips, which is far from desirable. On the website, the maximal leverage is advertised as being greatly beneficial at 1:200, however, its validity is questionable.
Deposit and Withdrawal Methods
All that can be found on the Skyam Invest Ltd website regarding their accepted payment methods is the PayPal logo. With no other reasons to trust this information, it appears that they are using e-Wallets (i.e. Skrill, Neteller, ChinaUnionPay, PayTrust88, dragonpay, PaymentAsia, OTC365) and wire transfers as their payment systems. An implausible $1000 minimum deposit requirement is mentioned on the website along with a potential $50 fee for all deposits – an excessively high rate.
However, there are no details available pertaining to withdrawals from this broker; which may suggest that users will not be able to make them at all. Unfortunately, there is uncertainty over what fees apply for these payments as well as whether they are applied to deposits or withdrawals. This ambiguity indicates a broker who does not observe rules and regulations properly.
Skyam Invest Ltd appears to be a fraudulent organization, as there is not enough available information on where the company legitimately operates. Many of these ill-regarded platforms falsely assert that they are located in the United Kingdom, probably in an attempt to attract customers from the EU. In this situation, our strongest suggestion is to only deal with legitimate brokers that have been approved by the appropriate authorities.
If you are the victim of a Skyam Invest Ltd scam or any other form of fraud such as forex, cryptocurrency, romance, or phishing scams, you have the option to file a complaint against the scam brokers. Simply complete a complaint form on our website and receive free advice from our experts who will provide assistance with recovering your funds.
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