Skyline Markets Review
Skyline Markets seems to be a scam broker. Proceed with caution! The review below is presented for archiving purposes.
Skyline Markets is a binary options broker based in the Marshall Islands and owned and operated by a company called Capital Markets Services Limited. The website is only available in English, and the broker is unregulated. Nonetheless, they do not accept customers from the USA. For the time being, Skyline Markets appears to be a fairly run-of-the-mill SpotOption white label broker. If you are an international trader, you may wish to consider registering, but there are also better choices available to you.
Opening an Account on Skyline Markets
When you go to open your account on Skyline Markets, you will have the option of choosing one of the following account tiers:
- Micro Account: $250-$5,000. 25% welcome bonus
- Apprentice Account: $5,000-$25,000. 35% welcome bonus
- Broker Account: $25,000-$50,000. 50% welcome bonus
- Executive Account: $50,000-$250,000. 75% welcome bonus
- VIP Account: $250,000+. 100% welcome bonus
As you can see, the company is quite generous with bonuses. The rollover requirement is 20x. This is actually a bit lower than the 30-40x which is common.
On the accounts page, you can quickly and easily browse through the different tiers and see what special features are offered at each tier (this page is set up quite nicely). At the Micro level and every tier above, you get access to a demo account, which is a great feature since it lets you practice trading without risking real money.
Most of the bonuses do not kick in however until you deposit at least $25,000 for a Broker account. At that point, you also get same-day withdrawals, a dedicated 24/7 broker support, daily market reviews, and membership in the VIP mentorship program.
This program offers a number of benefits. Your senior broker is available to you around the clock, and will meet with you once a month to analyze where you might be able to improve your returns. You get access to higher payouts and also get free trading signals to help you plan your trades.
Unfortunately, this is about the full extent of the trading tools and features offered by Skyline Markets. The educational section offers something called “Skyline TV” to logged in customers — likely a set of videos. But aside from that, there is not a whole lot in the way of training features.
Skyline Markets does run some other promotions from time to time. Right now for example when you open an account, you can get a free iPhone 7. This has the feel of a gimmick, though it is still a nice benefit. Somewhat ironically, no iOS or Android trading apps are available for this broker, though the mobile-responsive site does allow you to trade on your smartphone or tablet.
Withdrawals on Skyline Markets
There are fees for withdrawing on Skyline Markets, but if you plan ahead, you should be able to avoid them. Your first two withdrawals of the month are free; subsequent withdrawals incur a $30 fee. The minimum threshold is set at $100, which is pretty typical.
Trading on Skyline Markets
As mentioned previously, Skyline Markets uses SpotOption, which is by far the most popular binary options platform in existence. If you have traded binary options on other websites, chances are good you did it on SpotOption. If so, you already know your way around the platform on Skyline Markets. If not, you can easily figure out how to trade on this intuitive platform in a matter of minutes.
The minimum trade size on Skyline Markets is $25, and the maximum is $10,000. This is quite a high ceiling, but the minimum is a bit higher than I like to see (many other sites allow you to stake just $10 on High/Low trades, or even less). So if you have a very small account, Skyline Markets may not be the best for managing your money, but it certainly gives you room to grow.
In total, there are 81 stocks, commodities, indices, and currencies available to trade on Skyline Markets. Trade types include High/Low, Pairs, Long Term, 60 Seconds, One Touch and FX/CFD. This is an ample amount of diversity, which gives you plenty of opportunities. While not explicitly mentioned on the site, Skyline Markets does apparently offer Double Up, Rollover and Early Close.
Skyline Markets Customer Service
Skyline Markets offers customer service through the usual channels: live chat, telephone, web form, email, and paper mail. I did try to find an agent to chat with during standard market hours on a weekday to no avail. When I opened the live chat window, it simply directed me to fill out a form to submit my question. So this does not give me a great impression about the availability of customer service.
Conclusion: Skyline Markets Is Very Average
Skyline Markets has some good features, but the impression I get from the website as a whole is one of “absence.” Some of the content on the site is poorly organized, and navigation is less than intuitive. I had to dig around to find answers to basic questions. And as just stated, customer service was not at the live chat desk, though they should have been.
They do offer a demo account at every account tier though, which is great, and there are plenty of assets to trade and many trade types available.
Bonuses are generous, but educational and trading tools and features could be better. Withdrawal fees and minimums are acceptable; while I would rather there were no fees and a lower threshold, I have seen much more restrictive fees and thresholds elsewhere.
So right now, Skyline Markets appears to be exceedingly average. They are neither the best nor the worst broker I have seen. They do not appear to have gone out of their way to stand out from other SpotOption brokers in any way, good or bad. I would say the inclusion of a demo account at every tier does put them subtly ahead of many of their competitors, but there are many other binary sites which offer a lot more in terms of resources and service.