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SkyamLtd (skyamltd.com) goes by the full name Skyam Invest Ltd. The platform has been in the news recently for all the wrong reasons. Members have been complaining of the platform’s inability to allow withdrawals. Once you invest with Skyam Ltd, that’s the last you will see your funds. To protect naïve investors, we have to expose the red flags found on the platform. Here’s what you need to know in our eye-opening SKYAMLTD REVIEW.
SkyamLtd claims to be a leading financial instruments provider on the about us page. The platform comes with unimaginable trading conditions. These include a minimum deposit of $1,000. The maximum leverage is 400:1.
There’s no information on the background or history of the platform. And this makes it a hard sell for us. A legit platform will give you’re their mission and objective. Skyam Ltd wants you to sign up without asking questions.
NOTE: Investors need to have proven investment sources that generate real ROI. Experts recommend trying out innovative ways that put your money at work. For example, try out coin staking, DeFi, and Masternoding.
SkyamLtd is the last platform you would expect to earn profits from. Therefore, there’s no actual trading taking place as withdrawal is far from possible. And this is what makes even interacting with the platform a waste of time.
Those who have invested heavily are now ruing the decision. The platform shuts them out and fails to respond to their emails. That’s what you will likely face as an investor. Complaints have already reached regulators, and an official investigation is underway.
Experts recommend that you do due diligence before investing in any platform. This is especially so for first-time investors. You need to find out the experiences of other users on the platform. It gives you an insight into what to expect with the platform.
SkyamLtd fails to give investors the types of accounts available on the platform. We only get two types which include a demo account and managed accounts. On the managed account front, little information is available.
A platform that hides such crucial information is up to no good. The platform has, on occasion, changed leverage from time to time. There’s also a $50 deposit fee which makes no sense. No one should pay a dime to deposit funds on a platform.
We find several problems with the account features that we must address. These include the high leverage and maximum deposit. High leverage puts your investment at risk. Only expert traders can take advantage of high leverage.
With such high leverage, the platform benefits from your trading losses. However, naïve investors are risky as you will likely lose a large trade volume. And since losses are a part of the game, you end up losing more.
That’s why regulators had to step in and protect investors from such high leverage. Regulators from Europe agreed to maximum leverage of 1:100. In the United States, the maximum leverage is 1:50 for retail traders.
There’s also a cap on acceptable minimum deposits in all jurisdictions. Regulators insist on a minimum deposit of $250. There are regulated platforms that even offer a lesser amount. Any platform asking for more than $250 takes advantage of investors.
An introducing broker and a while label affiliate program are available. However, before you partner with skyamltd.com, you need to understand the risks that come with it. The platform will likely make you lose your credibility as a trusted affiliate.
We have a platform that’s only looking to take advantage of your connections. The platform promises a commission of 10 percent for every new member you bring in. But, sadly, the platform doesn’t meet its promise.
You end up directing naïve investors into a platform that blocks their withdrawals. Naturally, these victims will want answers from you. Since the platform stops all communication, you end up being the platform’s scapegoat.
If the victims file a lawsuit against the platform, the law will consider you an accessory to online fraud. And that’s how you lose your credibility and reputation as a professional affiliate.
You get to trade with five classes of trading instruments available on the platform. These include commodities, crypto, forex, indices, and stocks. In addition, the platform avails commodities such as coffee, cotton, gas, gold, and more.
We have a platform that pairs leading crypto coins with major currencies. The platform offers Bitcoin, Dogecoin, Ethereum, Litecoin, and Ripple. In addition, these coins get paired with EUR, GPB, JPY, USD, and more.
Forex trading happens to be at the core of the platform’s trading. The platform avails major and minor currency pairs. We have a platform that promises 35ms execution speed and maximum leverage of 400:1.
Indices play a major role in ensuring day traders earn profit. This is because you get to trade in the world’s market stage with leading indices. These include DAX, Dow Jones, FTSE 100, NASDAQ, Nikkei, and more.
Stock trading is one of the biggest crowd-puller in trading. You get to trade shares belonging to major companies from all over. Some of the shares to find include the manufacturing and tech sectors.
We don’t have any information on who owns or runs Skyam Invest Ltd., Which makes SkyamLtd an anonymous investment platform. With an anonymous investment platform, recovering funds is not possible.
The owners usually hold funds in an offshore bank. No one can track these accounts or even freeze them. And this is where another scam group comes into the picture, recovery agents.
A recent survey indicates that these recovery agents are part of the scam. The agents make first contact after getting your contact info from the platform. Then, you get an email saying the agents have won a lawsuit against the platform.
To get part of the compensation or settlement, you must cover part of their legal fees. If you make the mistake of sending payment, you lose more funds. That’s why we insist on avoiding anonymous platforms.
You won’t get any contact or support from the platform. And this makes it even hard to recover funds. So we insist on signing up with platforms that offer direct means of communication. These include live chat and listing phone numbers.
It’s probably one of the only advantages found on the platform. With a demo account, you can test how the platform and market behave. Luckily, the demo account comes fully equipped with an MT4 trading platform.
Your funds are far from safe with a platform that fails to segregate funds. The platform fails to offer insurance cover for deposits made by clients. And this puts your investment at risk. The platform also fails to deposit the minimum required amount with regulators to start trading.
SkyamLtd is not a regulated platform and fails to offer genuine investment opportunities. There are no documents to prove compliance. And this is why no one gets to withdraw funds from the platform.
Without a clear regulatory framework, the platform is free to impose any trading conditions.
After exposing the platform, you should stay away from skyamltd.com.
PS: Instead, go for expert-backed investment strategies that generate ROI.
Feel free to drop a comment or write to us.
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