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.
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 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.