Sky Capital (Skycapitalfx.com) is a Forex brokerage located in the Saint Vincent and the Grenadines and allegedly owned by Geiko Holdings Ltd. In the review below, we take an in-depth look at the feat Sky Capital allegedly offers. This review aims to explore the trading platform, listing out aspects like licensing, its leverages, account types, and its withdrawal and deposit methods. It also aims to fact check claims that have been made the skycapital.com pro to determine whether it is safe enough to trade with or if it is just one gigantic scam.
Sky Capital Trading Platform
They promise an array of offerings which include Forex (with leverage as high as 1:2/00) and CFDs, precious metals and others. They make use of the MT4 trading platform
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Apart from their prices and leverages, they offer these features as reasons to choose them above the others
Safe and Security
Instant Exchange
Experts Support
Sky Capital Account type
Skycapitalfx.com offers four different types of accounts.
MICROwith minimum deposit of $100
ACTIVE with minimum deposit of $100
MEGA with minimum deposit of $1000
EXTREME with minimum deposit of $1000
Sky Capital Deposit and Withdrawal Methods
The brokerage supports Visa, MasterCard, Skrill and Neteller.
Reading through the terms and conditions of the brokerage we understand that it charges a 10 percent dormant account fee for accounts that have been inactive for more than three months which is quite indicative of the ill-minded intentions the brokerage has
There was no mention of any other withdrawal fees in the site. However, we warn against dealing, dealing with unsubstantiated brokerage as we never know if they won’t charge unexpected fees once the clients have deposited their funds.
Another risk is that might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume in order to be eligible for withdrawal. This is purposefully done in order to stop traders from making a withdrawal.
Is Sky Capital licensed?
Their site claims that they are located in London, but their parent company(Geiko Holdings Ltd.) which is well known is located in Saint Vincent and the Grenadines.
It doesn’t bother to give any more information concerning its licensing.
Saint Vincent and the Grenadines is a well-known offshore zone, and a preferred location for shady brokerage. Although this broker doesn’t claim to be regulated by the government of SVG, the government of the SVG has stated in the past it does not regulate any form of forex trading.
After checking appropriate bodies, we concluded that this broker is an unregistered broker
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Accounts
Free Trial
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Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
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Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion
We wouldn’t recommend using this forex brokerage, we are not impressed with the vague information they have provided.
In conclusion, we wouldn’t advise or recommend you to trade with skycapitalfx.com as they don’t give any information concerning if they are a regulated broker.
Sky Capital is likely a platform run by scammers, trading with them would likely result in you losing your money. There is a tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading option.