SkylineMarkets Broker a Scam

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Is SkylineMarkets Broker a Scam?

Most of the traders that invest in binary options usually think that trading with unregulated brokers means they are trading with a fraudulent company. Because it is an unregulated broker, the frequent question occurs: is SkylineMarkets a scam broker?

This guide is dedicated to SkylineMarkets where we have analyzed all services provided by this brokerage company. Traders will find out what we think about this broker and why we think this is a reliable and transparent binary options player.

Is SkylineMarkets Regulated Binary Options Broker?

Traders should know that SkylineMarkets is not a regulated broker. But, this doesn’t mean that a broker which has no regulations is necessary a scam or a fraudulent service. According to their site, SkylineMarkets has a lot to offer and having no regulations is not so negative fact as some might think.

No matter that SkylineMarkets has no CySEC, CFTC or some other regulatory license, this broker is supported with a high-security SSL encryption. Most brokerage companies are still using 128 Bit security, but SkylineMarkets has integrated 256 SSL encryption which additionally empowers the security of their clients.

The most important thing we have found this broker has to offer is the fact that traders who register with SkylineMarkets have segregated accounts which are a great benefit. Having a segregated account means that traders funds are safely stored in another bank and they are not used for liquid payments like salaries, bonuses, utility bills and other monthly company costs.

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Trading with SkylineMarkets

It is always important to be careful before you register with a binary broker. Traders should read broker reviews and visit broker site to make a research and final decision. As far as we know, there weren’t any complaints regarding SkylineMarkets broker. This brokerage company is providing transparent information which is available on their website.

The broker provides professional customer support which is another indicator that broker cares a lot about their customers. Every regulated binary options broker must have various types of customer support available, from what we can see that SkylineMarkets tries to act and provide the same level of a service.

SkylineMarkets provides transparent information about the company and clear terms and conditions along with privacy policy. Traders can contact SkylineMarkets customer support 0/24, using phone, chat or email.

SkylineMarkets Banking Policy

Another very important thing in trading with every binary broker is banking policy and payment methods available for depositing and withdrawing the money. SkylineMarkets has prepared a very clear overview of deposit methods that will probably satisfy most of the traders.

As usual, traders can choose between the vast amount of credit cards which include Visa, MasterCard, Visa Electron and even Maestro card. Those traders who prefer making payments with E-Wallets and send deposits via the internet with low costs can choose to do it with famous Skrill or Moneybookers. At the end, there who prefer to send their funds via wire transfers have this option too, which means they can send their funds directly from their bank to SkylineMarkets. It is important to say that every bank might take different fees so traders should be informed by their bank provider about possible fees. Traders who make deposits via bank wire usually need to wait between 3-5 days to get their funds transferred.

SkylineMarkets Allows Same Day Withdrawals

We have found out that this broker allows traders to use same day withdrawals service. This option is available with SkylineMarkets VIP account clients. According to the site, withdrawal request can be submitted online and will be processed within 24 hours. This service is available for non bonus leveraged accounts only.

SkylineMarkets Compliance Policy

Another indicator that says SkylineMarkets might be a true and reliable broker is the compliance policy which is extremely important to this brokerage company. In order to participate global activity of preventing money laundering, identity theft or other financial frauds, SkylineMarkets holds a zero tolerance and provides Know Your Customer Policy.

All SkylineMarkets clients are required to make a verification process in order to proceed with trading. SkylineMarkets wants to ensure the integrity and protect sensitive data provided by their clients. Traders are required to provide several documents in order to verify their account with SkylineMarkets. This action is another benefit that is a default component of every regulated broker which shows how SkylineMarkets tries to stay in level even it is not regulated.

After the registration and making a deposit with SkylineMarkets, traders will be asked to provide a copy of identity, credit card, and a utility bill. The identity card must contain a signature and it has to be valid. Traders should provide the copy of credit card they have been using for depositing with SkylineMarkets. Copy should show trader’s name, expiry date and last four digits of the card number and the last side of the card which excludes the CVV number. The copy of utility bill can’t be older than four months. The utility bill has to contain the name of a trader and his address.

When all documents are prepared, traders should send them to SkylineMarkets compliance team which will process them as soon as possible. According to the SkylineMarkets site, the broker stores the documents with the utmost respect and confidentiality.

SkylineMarkets Demo Account

The last important benefit we have found with SkylineMarkets is a demo account feature which is a must before real trading even starts. Parallelly with SkylineMarkets demo account, traders are invited to check more than 50 video tutorials, E-Book and a VOD section. SkylineMarkets has ensured their clients have everything they need to know about trading before they start investing.

Using a demo account allows traders to learn more about the trading platform and available trading features. We have found that broker offers more than 30 stocks, 20 indices 7 commodities and 24 indices. SkylineMarkets starts with a minimum deposit of $250 and since it is not regulated, traders are welcome to use various welcome bonuses. For more information about trading bonuses, contact SkylineMarkets customer support.

Read more about SkylineMarkets in our detailed SkylineMarkets broker review.

We hope that we have answered all your doubts and that you will make an easy decision if SkylineMarkets is a scam broker.

Skyline Markets Review

Skyline Markets

Broker Skyline Markets
US Traders Accepted
Company Name Capital Markets Services Limited
Headquarters Marshall Islands
Regulation No
Bonus Type Welcome bonus
Bonus Size 100%
Max Payout 88%
Out-of-Money Reward 10%
Trading Platform SpotOption
Early Closure
Deposit Options Credit/debit cards, wire transfer, Skrill, WebMoney, UnionPay, iDEAL, EntroPay, Ukash
Deposit Currencies US dollar, euro, British pound
Minimum Deposit $250
Minimum Trade $25
Maximum Trade $10,00.
Online Since 2020
Trading Instruments Stocks, currencies, commodities, indices
Number of Trading Instruments 81
Binary Option Types High/Low, Pairs, Long Term, 60 Seconds, One Touch, FX/CFD
Customer Support Types Live chat, telephone, email, web form, paper mail
Education Offered FAQ, Skyline TV
Tools Offered Market reviews, trading signals, VIP payouts, Double Up, Rollover, Buy Me Out
Commission Two free withdrawals each month; $30 fee for each thereafter. $100 minimum withdrawal threshold.
Languages English
Demo Account Yes (upon deposit)

Skyline Markets seems to be a scam broker. Proceed with caution! The review below is presented for archiving purposes.

Skyline Markets is a binary options broker based in the Marshall Islands and owned and operated by a company called Capital Markets Services Limited. The website is only available in English, and the broker is unregulated. Nonetheless, they do not accept customers from the USA. For the time being, Skyline Markets appears to be a fairly run-of-the-mill SpotOption white label broker. If you are an international trader, you may wish to consider registering, but there are also better choices available to you.

Opening an Account on Skyline Markets

When you go to open your account on Skyline Markets, you will have the option of choosing one of the following account tiers:

  • Micro Account: $250-$5,000. 25% welcome bonus
  • Apprentice Account: $5,000-$25,000. 35% welcome bonus
  • Broker Account: $25,000-$50,000. 50% welcome bonus
  • Executive Account: $50,000-$250,000. 75% welcome bonus
  • VIP Account: $250,000+. 100% welcome bonus

As you can see, the company is quite generous with bonuses. The rollover requirement is 20x. This is actually a bit lower than the 30-40x which is common.

On the accounts page, you can quickly and easily browse through the different tiers and see what special features are offered at each tier (this page is set up quite nicely). At the Micro level and every tier above, you get access to a demo account, which is a great feature since it lets you practice trading without risking real money.

Most of the bonuses do not kick in however until you deposit at least $25,000 for a Broker account. At that point, you also get same-day withdrawals, a dedicated 24/7 broker support, daily market reviews, and membership in the VIP mentorship program.

This program offers a number of benefits. Your senior broker is available to you around the clock, and will meet with you once a month to analyze where you might be able to improve your returns. You get access to higher payouts and also get free trading signals to help you plan your trades.

Unfortunately, this is about the full extent of the trading tools and features offered by Skyline Markets. The educational section offers something called “Skyline TV” to logged in customers — likely a set of videos. But aside from that, there is not a whole lot in the way of training features.

Skyline Markets does run some other promotions from time to time. Right now for example when you open an account, you can get a free iPhone 7. This has the feel of a gimmick, though it is still a nice benefit. Somewhat ironically, no iOS or Android trading apps are available for this broker, though the mobile-responsive site does allow you to trade on your smartphone or tablet.

Withdrawals on Skyline Markets

There are fees for withdrawing on Skyline Markets, but if you plan ahead, you should be able to avoid them. Your first two withdrawals of the month are free; subsequent withdrawals incur a $30 fee. The minimum threshold is set at $100, which is pretty typical.

Trading on Skyline Markets

As mentioned previously, Skyline Markets uses SpotOption, which is by far the most popular binary options platform in existence. If you have traded binary options on other websites, chances are good you did it on SpotOption. If so, you already know your way around the platform on Skyline Markets. If not, you can easily figure out how to trade on this intuitive platform in a matter of minutes.

The minimum trade size on Skyline Markets is $25, and the maximum is $10,000. This is quite a high ceiling, but the minimum is a bit higher than I like to see (many other sites allow you to stake just $10 on High/Low trades, or even less). So if you have a very small account, Skyline Markets may not be the best for managing your money, but it certainly gives you room to grow.

In total, there are 81 stocks, commodities, indices, and currencies available to trade on Skyline Markets. Trade types include High/Low, Pairs, Long Term, 60 Seconds, One Touch and FX/CFD. This is an ample amount of diversity, which gives you plenty of opportunities. While not explicitly mentioned on the site, Skyline Markets does apparently offer Double Up, Rollover and Early Close.

Skyline Markets Customer Service

Skyline Markets offers customer service through the usual channels: live chat, telephone, web form, email, and paper mail. I did try to find an agent to chat with during standard market hours on a weekday to no avail. When I opened the live chat window, it simply directed me to fill out a form to submit my question. So this does not give me a great impression about the availability of customer service.

Conclusion: Skyline Markets Is Very Average

Skyline Markets has some good features, but the impression I get from the website as a whole is one of “absence.” Some of the content on the site is poorly organized, and navigation is less than intuitive. I had to dig around to find answers to basic questions. And as just stated, customer service was not at the live chat desk, though they should have been.

They do offer a demo account at every account tier though, which is great, and there are plenty of assets to trade and many trade types available.

Bonuses are generous, but educational and trading tools and features could be better. Withdrawal fees and minimums are acceptable; while I would rather there were no fees and a lower threshold, I have seen much more restrictive fees and thresholds elsewhere.

So right now, Skyline Markets appears to be exceedingly average. They are neither the best nor the worst broker I have seen. They do not appear to have gone out of their way to stand out from other SpotOption brokers in any way, good or bad. I would say the inclusion of a demo account at every tier does put them subtly ahead of many of their competitors, but there are many other binary sites which offer a lot more in terms of resources and service.

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