Note: SKY' official website: https://www.skyprimefx.com/ is currently inaccessible normally.
SKY, founded in 2021 and registered in Saint Vincent and the Grenadines, offers trading in a variety of markets. The platform primarily supports MT4 and provides two account types. But there are problems of its recent establishment and lack of regulation.
Pros and Cons
Is SKY Legit?
SKY is not regulated. Besides, as of now, their website is not available. The domain skyprimefx.com was registered on November 17, 2021. Its status is clientTransferProhibited, which means that the domain cannot be transferred to another registrar without the current registrars approval. This status is often used to protect the domain from unauthorized transfers.
What Can I Trade on SKY?
SKY trade Stocks/Equities, Futures, Indices, Precious Metals, Commodities, and Forex.
Account Type
SKY offers two kinds of live accounts: ECN and PRIME accounts with minimum deposit of $10.
Leverage
SKY offers two types of accounts with varying leverage options. For those trading with an ECN account, the maximum leverage is set at 1:200. On the other hand, SKYs PRIME accounts come with a significantly higher leverage of 1:500.
SKY Fees
ECN Accounts: These accounts offer trading with spreads starting from 0.5 pips, but come with a commission fee of $7 per lot traded.
PRIME Accounts: These accounts feature spreads starting from 1.0 pips, but without any commission fees.
Trading Platform
SKY claims it offers MT4 to trade. MT4 is a leading and widely-acclaimed trading platform, to facilitate efficient trading experiences.
Deposit and Withdrawal
SKY makes deposit and withdrawal through Bank Transfer.
Customer Service
You can contact SKY via phone and email.
The Bottom Line
SKY offers forex services through MT4 trading platform with two kinds of live accounts. But it lacks regulation and currently has an inaccessible website.
FAQs
Is SKY safe?
No. It has no regulation.
Is SKY a good for beginners?
No. It does not provide a rather safe trading condition so that beginners are easier to be scammed.
Is SKY good for day trading?
No.
