Navigating the landscape of volatile financial investments is difficult enough without the constant danger of fraudulent companies. There are several ways you can detect the con schemes before you waste any money on one.
See the remainder of our SkyTargetLtd review to learn more about fund protection and recovery.
| Regulated by: | Unregulated |
| Is This Company Safe? | No, never invest with unlicensed firms! |
| Known Websites: | skytargetltd.com |
| Have Warnings from: | FSMA, FSC |
| Registered in: | UK (alleged) |
| Operating since: | 2023 |
| Trading Platforms: | N/A |
| Maximum Leverage: | N/A |
| Minimum Deposit: | $10,000 |
| Deposit Bonus: | N/A |
| Trading Assets: | Forex, Commodities, Stocks, Indices |
| Free Demo Account: | No |
| How to Withdraw from This Company? | Seek help from our legal team in order to recover the stolen money. |
Hidden Company Information
Legit brokers are bound by law to provide certain information, which includes the nation of incorporation and the authority that issued a license. Depending on the jurisdiction, each page of the site should also include a standardized risk disclaimer, which is absent in this case.
The SkyTargetLtd broker is allegedly owned and operated by a company of the same name, with no particularities about any registration. A single mention of the address can be found on the “contact” page, which mentions that the company operates from the UK.
This means that the firm should be licensed by the FCA, which is not the case. After inquiring with a number of other regulatory agencies, we found out that the company has been blacklisted by FSMA and FSC. This is a sound confirmation that we are dealing with a dangerous online scam, similar to KickEx.
Boiler Room Strategy
Although the firm does not advertise anywhere, it is a subject of various misleading articles and videos found in all corners of the web. This enforces the idea that the firm has been in business for a long time.
In reality, the skytargetltd.com domain was created in December 2023, and is made to target these nations:
- Australia
- Canada
- Switzerland
- Malaysia
To get more victims, the firm runs a boiler room in parallel. Boiler room agents, as they are called, constantly call people by phone and pitch their lies. Using the combination of charisma, pressure and persuasion, they can get money from just about anyone.
Platforms like the SkyTargetLtd trading scam don’t linger around for long. Take action before the con artists are gone with your money – contact our experts today!
Paying For Fake Reviews
The site with the most numerous SkyTargetLtd reviews is TrustPilot. There, the company has a rating of 3.7 stars, although this number is greatly inflated by the influence of review seller networks.
Using paid, fake reviews is a common trope with other cybercriminals like Duo Markets. In this case, though, the number of fakes is insufficient to stem the tide of negative feedback. Many users are complaining about serious issues like denied withdrawals and the company freezing their assets.
Cost Information Is Hidden
A legitimate broker will always prominently display their various charges on the website. As high-end financial service providers, these firms always compete for a larger share of clients, and will modify their leverage, spreads, swaps, fees and other costs to fulfill a certain niche.
With this service, trading costs suffer from the same transparency issues as the corporate information. There is simply no data even about the most crucial aspects of the business like leverage or various fees.
With no clearly defined costs, swindlers are empowered to invent any amount they see fit. Many con schemes heavily feature hidden fees, which are often charged up-front in order to squeeze more money from the victims.
Impossible to Register
Registration of a SkyTargetLtd login account is impossible due to an error in the website’s programming. Creating an account requires users to solve a Captcha which never loads.
This is not always a design flaw, but a feature instead. Through such purpose-made glitches, the swindlers exert more influence over their marks by making them reliant on boiler room agents for even the simplest of tasks.
Account Types
Financial fraudsters often offer tiered account types in order to entice heavier spending. More expensive ones allegedly include benefits like priority customer support or expert analysis.
Compared to what the regulated brokers offer, these prices are insanely high:
- Bronze – $10,000
- Silver – $25,000
- Gold – $50,000
- Platinum – $100,000
- Diamond – $250,000
- VIP – $100,000
- VIP+ – $250,000
Company agents usually pester the clients to “upgrade” their account in order to receive a “better” service.
Unknown Trading Software
The firm never mentions any SkyTargetLtd Forex trading app. With no access to the client area, we could not examine whether any software exists at all, unfortunately.
Regulated companies often provide industry standard software like MT4, MT5 or cTrader, but this is not the rule. Fraudsters may offer these programs as well, which is why you need research before investing.
No Asset Disclosure
There is only a single instance on which the broker mentions any trading instruments. This is on the account information page, and only for a single account type.
Allegedly, the VIP account includes trading Forex, Stocks, Commodities, and Indices. Since we couldn’t gain access to the platform, however, we were unable to verify any of this.
Murky Withdrawal Conditions
As every other business-related topic, the SkyTargetLtd withdrawal policy is just a pack of weasel words. The document itself is less than a single A4 page, and lists payment and payout channels as including bank cards (Visa, AmEx, MasterCard), cryptocurrency transfers and bank transfers.
Unfortunately the Terms & Conditions neither corroborate nor disprove any of this, of course. Still, there is a clause in it that states that “once a subscription is initiated, it cannot be terminated, and we do not provide refunds”.
This implies that the account minimum deposits are subscription based recurring payments, and that no payouts are possible.
Unreachable Customer Service
The help desk should be available via phone and email, but this is difficult to believe. You see, the firm claims to offer 24/7 support, but nobody picks up the phone when we call the provided number. If you try to send any message to the provided email address, it bounces back.
Got Scammed? We Can Help You!
Not only does the SkyTargetLtd website lack any transparency, we caught it red handed in lying to their clients! The firm is not registered in the nation where it allegedly has an HQ, and has been placed on two regulatory blacklists.
We can help you recover funds from online con artists. Book a free first consultation with our recovery experts by using the 24/7 chat function on our website.
FAQ Section
What is SkyTargetLtd?
It is a financial scam that pretends to be a renowned online forex broker.
Is SkyTargetLtd Legit?
No, the company is not regulated by any authority. Two EU-based regulators have issued warnings about the entity.
Is There a Way to Recover From Financial Fraud?
Recovery is possible! Contact our expert team via the live chat on our site, and start a procedure to have your funds reimbursed.
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