Skytrade Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-12-04 17:31

Abstract：SkyTrade, founded within the past year and headquartered in China, offers a range of trading opportunities across various assets including Forex, cryptocurrencies, commodities, and stocks. Operating without specific regulatory oversight, the platform provides both live and demo account options with no minimum deposit or maximum leverage requirements. Trading is commission-free, facilitated through their proprietary website and app. While lacking formal education resources or bonuses, SkyTrade supports customer inquiries via email and phone, emphasizing accessibility and straightforward trading services.

SkyTrade Review Summary
Founded	2023
Registered Country/Region	Canada
Regulation	Unregulated
Market Instruments	Forex, Indices, Futures, Stocks, Cryptocurrency, Commodities, Silver, Gold, Crude Oil, Crypto Futures, TWT Trading
Demo Account	✅
Leverage	Up to 1:500
Spread	/
Trading Platform	Web Platform, Windows Application, Mobile App (iOS and Android)
Min Deposit	/
Customer Support	info@skytrade.co
	+91 8108693064
	Online chat

SkyTrade Information

　　SkyTrade, which was established in 2023, offers a wide range of tradable goods, such as FX, indices, commodities, and cryptocurrencies. It allows trading on desktop programs, mobile apps, and web platforms and is accessible to traders of all ability levels.

Pros and Cons

Pros	Cons
Wide range of tradable instruments	Unregulated
Demo account available	No detailed information about spreads or fees
Multiple trading platforms

Is SkyTrade Legit?

　　SkyTrade is not regulated in Canada, where it was registered. Furthermore, it is neither licensed by the UK Financial Conduct Authority (FCA) or the Australian Securities and Investments Commission.

　　On September 9, 2023, GoDaddy.com, LLC registered skytrade.co. The last update occurred on August 8, 2024, and it will finish on September 9, 2025. The current domain status includes ClientTransferProhibited.

What Can I Trade on SkyTrade?

　　In several marketplaces, SkyTrade provides a range of tradable products.

Tradable Instruments	Supported
Forex	✔
Indices	✔
Futures	✔
Stocks	✔
Cryptocurrency	✔
Multi-Commodity Exchange	✔
Commodity Trading	✔
Silver Trading	✔
Crude Oil	✔
Gold Trading	✔
Crypto Futures	✔
Crypto Exchange	✔
TWT Trading	✔
Crypto Bitcoin	✔
Crypto Ethereum	✔

Leverage

　　SkyTrade offers leverage up to 1:500, boosting traders' potential with little funds. This high leverage allows inexperienced and professional traders to gain financial market exposure.

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for what kind of traders
Web Platform	✔	Web Browsers	Easy-access trading for beginners and experts
Windows Application	✔	Desktop (Windows)	Desktop traders seeking security and stability
Mobile App	✔	iOS and Android (via Play Store/App Store)	Mobile traders

Deposit and Withdrawal

　　The broker does not specify any fees for deposits or withdrawals. The payment methods including Net Banking and QR Code.

Method	Min. Amount	Fees	Processing Time
Net Banking	Not mentioned	Not mentioned	Instant (Deposit)
QR Code	Not mentioned	Not mentioned	Instant (Deposit)