Heard of Scfxmarket.com trading platform? Really want to find more details before choosing the broker? You can carefully read the SkyLarks FX Markets reviews to know about this forex broker whether to use or not.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is SkyLarks FX Markets?
SkyLarks FX Markets located at Scfxmarket.com is an offshore brokerage with a lot of promises for forex traders. The forex company is headquartered in London, United Kingdom.
What is more, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
SkyLarks FX Markets offers different account packages such as —-
What We Found about Scfxmarket.com Broker Regulation
Scfxmarkets presents its registered address in London, the UK. Every broker offering financial services in the UK must be licensed by the UK’s Financial Conduct Authority (FCA). But no authorized broker using the trading name and domain of SkyLarks FX Markets can be found in the database of this regulator.
Take a look at this —
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These drawbacks are for forex traders/ clients to avoid losing money with unlicensed scam brokers. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
SkyLarks FX Markets Minimum Deposit
SkyLarks FX Markets deposit is pegged between $1 to $100 based on the account type. While this may be a fair deposit, but doing it with an unlicensed broker is a risk.
Just to put a comparison, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
As for the funding methods, SkyLarks FX Markets accepts credit/ debit cards, bank transfer and Bitcoins.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Withdrawal process:
SkyLarks FX Markets withdrawal says nothing on specific information regarding withdrawal fee and processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
SkyLarks FX Markets Platform
Checking through the SkyLarks FX Markets platform, it offers MT 5.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
SkyLarks FX Markets leverage can get up to 1:1000. This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, however, it equally increases the risk of sudden and excessive losses. All leading regulators limit leverage for retail traders. In the EU, UK and Australia the maximum permitted level is 1:30 and in the US it is 1:50.
Frankly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
SkyLarks FX Markets Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Bottom Line
SkyLarks FX Markets has appeared like a genuine trading platform. Unfortunately, you should not take the words they say and their attractive looking website layout. By all appearances, we would advise traders to steer clear from this broker as it has been pegged red flag. To this end, we urge our readers to rely on regulated and licensed brokers like this or any licensed entity.
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