Sky Gold Market Review- Is Sky Gold Market scam or legit?

Sky Gold Market is an unregulated company that offers high leverage and questionable bonuses but no functional trading platform. The broker lures investors to invest without providing any trading opportunities. If you have already invested, retrieving your money would also turn out to be impossible.

This broker only accepts irreversible crypto payments, which may be a red flag. All of this is a perfect background for a scam. We strongly advise against investing with Sky Gold Market to avoid losing a significant amount of money. Read a complete Sky Gold Market review, and you’ll see that not all things are as good as they appear. We’re going to expose a scammer.

Website: https://skygoldmarket.com/

Address: F26 First Floor, Eden Plaza, Eden Island, Seychelles

Warning: Not recommended by review website like Scam Helpers

Regulated? Unregulated

Table of Contents

Regulation

Trying to navigate the information provided by Sky Gold Market can be a daunting task. For instance, the broker claims to be based in Canada, yet there is no evidence that it is regulated by the country. Surprisingly, there are three other possible addresses: one in the United Kingdom, another in Australia, and a third in Hong Kong.

While offering bonuses and extremely high leverage, both of these are prohibited in the UK and Australia, making the broker’s legitimacy all the more questionable. Notably, the registers of the FCA (UK), ASIC (Australia), and SFC (Hong Kong) do not list any broker by this name, which implies that the broker is operating without a license, thereby posing a significant risk to your investment.

Trading Software

Sky Gold Market doesn’t offer any functional trading software, despite claiming to do so. They promised access to a web-based platform, but that turned out to be untrue. Instead, all we found in the client area was a TradingView chart. However, this free market-tracking software isn’t intended for trading, which means that the broker isn’t delivering all the services it promised.

Trading Conditions

You could choose the leverage you traded with this broker and set it between 1:100 and 1:500. There are quite a few problems with the offer of such leverage. Trading with such rates can not only lead to bigger profits but also to much bigger losses – which is why you should always be careful with your leverage settings.

Second of all, brokers in the UK and Australia (where Sky Gold Market is supposedly based) cannot offer leverage higher than 1:30 to retail traders – any broker who claims otherwise does so against the law. Finally, talking about leveraged trading is actually completely redundant – since this broker does not offer a platform you would be able to trade on.

Deposit and Withdrawal method

Sky Gold Market offers limited deposit options and favors cryptocurrency payments. While Sky Gold Market accepts a variety of deposit methods, it’s clear that this broker has a preference for cryptocurrency payments. Bitcoin, Ethereum, Litecoin, and BNB are among the cryptos accepted, with PayPal and PayPound being the only other deposit options.

However, there are limits to the amount of money you can deposit using these methods, with PayPound having a maximum of $1000 and PayPal only allowing $100. It’s important to note that scam brokers often push for crypto deposits because they’re irreversible, meaning that once you’ve deposited, you won’t be able to recover your funds.

Conclusion

If you have fallen victim to a Sky Gold Market scam, remember that you are not alone. Scam Helpers has helped many clients in similar situations.

Don’t give up hope if you want to recover your lost funds. Refuse to let the scammers win and fight for your refund. Allow us to assist you in your pursuit.

Also, read BitMineNetwork review to know about similar scams.