Is Skytorex Legit or a Scam?
No, Skytorex is not a legit broker. They are a giveaway scam broker using the TikTok platform. They also have some other issues. We will discuss these facts in further review.
What is Skytorex?
Claiming to be a cryptocurrency exchange and trading platform, Skytorex entices victims with offers of generous prizes, freebies, and endorsements from well-known figures like Mr. Beast and Elon Musk. But beneath the surface is a sophisticated cryptocurrency fraud designed to steal money from gullible people.
Technologically dishonest alternatives such as the Skytorex platform fall short of the advanced platforms offered by crypto magnates in terms of features and dependability. This dubious site has a basic and uncomplicated web terminal that is barely responsive and designed for basic cryptocurrency transactions and investments.
Every freshly signed-up customer’s initial expenses are 0.075% / 0.075% for Maker and Taker fees. Lower fees are unlocked as you advance and improve your trading techniques. At 0.035% / 0.045%, Level 7 investors are said to have the lowest trading fees.
Skytorex Details
Regulated by: | Unregulated Offshore Broker |
Is This Company Safe? | The absence of licenses makes any site unsafe! |
Known Websites: | https://skytorex.com |
Have Warnings from: | N/A |
Registered in: | Malta |
Operating since: | 2023 |
Trading Platforms: | Web |
Maximum Leverage: | N/A |
Minimum Deposit: | N/A |
Deposit Bonus: | Not available |
Trading Assets: | Crypto pairs |
Free Demo Account: | No |
How to Withdraw from This Company? | They don’t pay by showing several issues. If you face the same problems contact us. |
Deposits and Withdrawals
Skytorex allows users to deposit funds into their accounts for trading. Withdrawals can be made through specified methods, and users should be aware of associated fees and processing times.
Account Types
Skytorex does not have different kinds of accounts as they sell only crypto. They have several new cryptocurrency pairs.
Red Flags and Warning Signs
The bogus cryptocurrency portals exclude any company information and legal information. We contacted MFSA because the legal documents state that the courts in Malta have exclusive jurisdiction.
The state registration of legal entities does not contain information about the dubious business. This one lacks the stringent regulations that Malta’s authorities have established to govern the granting of licenses to issuers of virtual financial assets. Furthermore, they are not listed in any Tier 1 registry of authorized cryptocurrency providers maintained by prominent regulators such as FCA, CySEC, BaFin, and FINMA.
Customer Complaints and Negative Reviews
Research customer feedback to identify any recurring issues or complaints. Negative reviews related to fund withdrawals, unresponsive customer support, or unexpected fees could indicate potential problems.
Alternatives to Skytorex:
- OctaFX
- HF Markets
- IG
Got Scammed by Skytorex? We Help Victims!
If you believe you have fallen victim to a scam involving Skytorex, seek assistance from relevant authorities. Additionally, consider reporting the incident to financial regulatory bodies and law enforcement agencies to help prevent further fraudulent activities.
Additionally, you can contact us for a quick solution. Our professionals will provide you with a free consultation and receive service recommendations to help you recover the lost funds.
