Skyline
Basic Information
Pros and Cons
Pros
- Regulated by FSC in Mauritius
- Offers over 170 tradable instruments
- Leverage up to 1:500
- User-friendly MT5 platform
- 24/7 customer support available
Cons
- High number of user complaints
- Withdrawal processing issues reported
- Limited mainstream regulatory oversight
- No participation in investor compensation funds
- High-pressure sales tactics from account managers
Is Skyline Safe and Legit?
Skyline Markets Limited, registered in Mauritius since 2011, has around 2-5 years of operational experience. The broker offers over 170 tradable instruments including forex, CFDs, and cryptocurrencies, with leverage up to 1:500 and low spreads on the MT5 platform.
Skyline is regulated by the Financial Services Commission (FSC) in Mauritius, which provides a level of legal oversight. However, the high number of user complaints suggests potential safety concerns, and hence, its overall safety is questionable.
In the market, Skyline has garnered mixed evaluations from users. While some praise its customer service and user-friendly platform, others report issues with withdrawal processes and high-pressure sales tactics from account managers. The frequency of complaints indicates a concerning trend regarding the reliability and transparency of the broker.
Is Skyline a Regulated Broker?
Client Fund Segregation: Your Ultimate Safeguard
Capital Protection Measures
Client funds at Skyline Markets Limited are held in accounts that are separate from the broker’s own assets. This segregation of funds is a common practice under the regulatory framework provided by the Financial Services Commission (FSC) in Mauritius, ensuring a level of capital protection for traders. However, the broker does not participate in any investor compensation funds or insurance schemes, which limits the coverage and safety of client funds in the event of financial difficulties.
Skyline Leverage
The maximum leverage offered by Skyline is up to 1:500, applicable to both standard and professional accounts. This leverage level is in line with the typical legal limits set for offshore regulated brokers. Clients are classified as either retail or professional, based on their trading experience and the nature of their investments, allowing for flexibility in leverage usage according to their classification.
Skyline Withdrawal Review
How to Contact Skyline?
Skyline Markets Limited has been the subject of numerous user complaints, with a significant number focusing on withdrawal issues. Many users report delays in processing withdrawal requests, with some stating that their funds remain blocked for extended periods. These complaints are primarily sourced from online trading forums and review platforms, indicating a concerning trend. The broker’s responses to these complaints tend to be slow, with many users expressing frustration at the lack of communication. The high volume of similar complaints raises questions about the broker’s reliability and transparency, although there have been no public records of regulatory penalties or warnings specifically related to these issues.
Frequently Asked Questions
A1: Skyline Markets Limited is regulated by the Financial Services Commission (FSC) in Mauritius, which provides some level of oversight. However, the broker has received numerous user complaints regarding various issues, leading to concerns about its overall safety and reliability.
A2: Client funds at Skyline Markets Limited are held in separate accounts from the broker’s own assets, a practice that offers a level of capital protection. However, the broker does not participate in any investor compensation funds or insurance schemes, which limits the coverage of client funds.
A3: Many users have reported delays in processing withdrawal requests, with some stating their funds remain blocked for extended periods. This trend has raised questions about the broker’s reliability and transparency, despite no public records of regulatory penalties specifically related to these issues.
A4: Skyline Markets provides 24/7 customer support, which can be reached via phone at +230 214 5913 or through email at support@skylinetrading.com. Users can also contact the broker through their official website for additional assistance.
A5: Skyline Markets offers over 170 tradable instruments, including forex, CFDs, and cryptocurrencies, allowing clients a diverse range of options for trading on the MT5 platform.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.