General Information
Sky Gold Market is a forex broker registered in Seychelles, providing access to a massive financial market, such as Shares, Indices, Metals, Energies, Futures, Commodities. With the Sky Gold Market platform, four types of tiered trading accounts are available, with the lowest required opening deposit starting at $250, and traders can employ a maximum leverage of 1:500 on their positions.
When it comes to regulation, this broker frustrates us a lot, as it is not subject to any regulation, and thats why WikiFX has given it a very low score of 1.08/10. Please be aware of the risk.
Account Types
Four types of tiered trading accounts are provided to suit both retail and professional traders trading needs. The account type is determined by the minimum deposit, $250 to open a Beginner account, $20,000 to open an Intermediate account, $50,000 to open an Advanced account, and $100,000 to open a VIP account.
Honestly, the minimum deposit required by each trading account is crazily high, and this is not what a genuine broker would do. Please take extra vigilance before putting down your money here.
Spreads & Commissions
Trading accounts set the commissions and spreads. The Beginner account offers typical spreads from 1 pips, with no commission on forex trading. The Intermediate accounts provides spreads from 0.1 pips, with a commission of 3.5 USD/EUR per standard lot. The advanced account also provides a zero-commission trading environment, offering spread starting from 0.7 pips, and lastly, the VIP account, offers spreads from 0.1 pips, with a commission of 2.5 USD/EUR per 100,000.
Leverage
Each trading account offers different leverage ratio, flexible leverage options ranging from 1:100 to 1:500. Since leverage can amplify both gains and losses, it can result in devastating losses for investors who lack experience. If you're just starting out in the trading world, it's best to stick with the lower size.
Trading Platform
Sky Gold Marke gives clients two trading platform options: a Webtrader and a Trader 7, with the industry leading MT4 or MT5 trading platform not supported.
Customer Support
If clients have any trading-related questions, they have no choice but drop this broker a line through the email: support@skygoldmarket.com. No other contact channels are available, which is disappointing.
Company Address: F26 First Floor, Eden Plaza, Eden Island, Seychelles
Risk Warning
Trading leveraged products such as forex, cryptocurrencies and derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that your fully understand the risks involved, taking into account your investments objectives and level of experience.
The information presented in this article is intended solely for reference purposes.
Pros & Cons
Frequently Asked Questions
IsSky Gold Marke regulated？
No, Sky Gold Marke is not subject to any regulation.
What is the maximum leverage provided by Sky Gold Marke？
The maximum trading leverage that traders can use on the Sky Gold Marke platform is up to 1:500.
Does SkGold Marke offer demo account？
Unfortunately, demo accounts are not available on the Sky Gold Marke platform.
2023-02-21 15:46
2022-12-06 14:30
