SK Markets (www.skmarketsfx.net) is a CFD broker whose domain name was registered on July 29, 2024. The company primarily offers investors trading services in markets such as forex, indices, ETFs, ETNs, options, commodities, and stock CFDs. However, it does not provide services to countries and regions where it may violate local laws or regulations.
Company Registration Information and Regulatory Status
According to skmarketsfx.net, the broker company entity is "SK Markets" and holds a U.S. NFA license with the license number 0563358. Additionally, it has a U.S. MSB license with the number 31000269824572. Beyond this, the broker's website does not disclose more information about the company's registration, nor does it provide terms of service, privacy policy, risk warnings, or related legal documents.
Upon verification, the NFA website shows there is no company with the NFA ID 0563358. The FinCEN website shows that the company with MSB number 31000269824572 is SK Markets. However, since skmarketsfx.net does not publish the company's registration number, it is not possible to confirm whether they are the same company. Furthermore, FinCEN's mission is primarily to combat money laundering and related crimes (including terrorism) and does not directly regulate financial derivative trading.
Traded Instruments
skmarketsfx.net claims to offer trading in various financial derivatives, including forex, indices, ETFs, ETNs, options, commodities, and stock CFDs.
- Forex: The forex market is the world's largest financial market, trading currency pairs between different countries. Investors profit from fluctuations in exchange rates by buying and selling currency pairs.
- Indices: Indices measure the performance of a specific group of stocks, like the S&P 500, which tracks the performance of 500 large U.S. companies. Investors can achieve diversification by trading indices.
- ETF: An ETF (Exchange-Traded Fund) is a fund traded on exchanges that pools various assets, such as stocks, bonds, or commodities. Investors can trade ETFs just like stocks.
- ETN: An ETN (Exchange-Traded Note) is a debt instrument issued by financial institutions and linked to the performance of a benchmark index or asset. Unlike ETFs, ETNs do not hold any assets but depend on the issuer's credit.
- Options: Options are derivatives that give the holder the right, but not the obligation, to buy or sell an asset at a specific price on a specific date.
- Commodities: The commodities market trades physical goods like gold, oil, and agricultural products. Investors can invest in physical assets through futures, options, and other instruments.
- Stock CFDs: CFDs (Contracts for Difference) are derivatives in which investors do not own the underlying asset but profit from the price difference through a contract with the broker.
Account Opening Process
skmarketsfx.net does not offer any account application options and does not provide an option to open an account on its website.
Account Types
skmarketsfx.net does not disclose key trading parameters like spreads, leverage, or contract size. The platform also lacks information on account types, trading commissions, minimum/maximum trade sizes, maximum position/order sizes, margin levels, and minimum price increments, making the site information relatively opaque.
Trading Platform and Deposits/Withdrawals
skmarketsfx.net claims to offer a proprietary trading platform, but the website does not provide any download links. The broker claims to support deposits and withdrawals via TRC20 TRON USDT.
Conclusion
Traderknows alerts investors that SK Markets (www.skmarketsfx.net) lacks proper regulation, and the website is suspected of being fraudulent. Investors are advised to choose brokers that are transparent, strictly regulated, and reputable to avoid unnecessary financial losses.
Currently, this broker is marked as "Suspected Fraud" on Traderknows.
