SkyFold Fx is a brokerage platform suspected of fraud, and its official website domain was registered on July 20, 2023.The website claims to offer investors a variety of financial derivatives trading services, including forex, cryptocurrencies, crude oil, and gold, utilizing blockchain technology.
Company Background and Regulatory Status
According to the public information on the SkyFold Fx website www.skyfoldfx.com, the broker claims to be a legitimate company registered in the UK under the entity Skyfold Fx Trading LLC, headquartered in London with a branch in Canada. The broker also claims to have a registered entity in Australia with ABN number 2018AD947.
Upon verification, the Australian Business Register (ABR) website shows no company registered under ABN number 2018AD947, and the UK Companies House website does not list a business named Skyfold Fx Trading LLC. Clearly, the information provided on the broker's website is false.
Therefore, SkyFold Fx is essentially an illegal website without a legitimate company entity or any form of regulation.
Trading Products
SkyFold Fx claims to offer a variety of financial products for trading, including forex, indices, metals, energies, stocks, bonds, and cryptocurrencies.
- Forex: The forex market is the largest financial market globally, with daily trading volumes reaching trillions of dollars. Forex trading involves the buying and selling of different currencies, with common pairs including USD/EUR and GBP/USD. The forex market operates 24 hours a day, with high volatility suitable for short-term speculation and day trading.
- Cryptocurrencies: Cryptocurrencies are digital assets based on blockchain technology, such as Bitcoin (BTC) and Ethereum (ETH). Compared to traditional financial markets, the cryptocurrency market is more volatile, thus offering higher potential returns.
- Crude Oil: Crude oil is a vital commodity in the global energy market, primarily divided into WTI crude and Brent crude. Crude oil prices are influenced by global supply and demand, geopolitics, and economic cycles.
- Gold: As a precious metal, gold is considered a safe-haven asset in financial markets. Especially during global economic turbulence, gold prices typically rise. Gold can be invested in not only through physical purchases but also via futures, ETFs, and other financial instruments.
Account Opening Process
The account opening steps for SkyFold Fx are as follows:
- Visit www.skyfoldfx.com and click either "JOIN US TODAY!" or the "SIGNUP" button at the top right of the webpage to enter the account application page.
- Fill out the account application form with your name, email, wallet, and set a login password. Submit the form to successfully create your account.
- Log into your account, then complete the KYC verification procedure to start trading.
Account Information
SkyFold Fx claims to offer three different investment plans: SILVER, GOLD, and PLATINUM.
SILVER
- Minimum investment amount: $1,000
- Maximum investment amount: $10,000
- Return rate: 5% per month
GOLD
- Minimum investment amount: $10,000
- Maximum investment amount: $100,000
- Return rate: 10% per month
PLATINUM
- Minimum investment amount: $100,000 and above
- Return rate: 15% per month
Trading Platform and Deposits/Withdrawals
SkyFold Fx offers its customers a proprietary trading platform, which can only be accessed through the registration portal on the website. The broker’s website does not provide download links for PC or mobile versions. Additionally, the broker claims to support deposits and withdrawals through cryptocurrencies.
Conclusion
Traderknows warns investors that SkyFold Fx is essentially an illegal website without a legitimate company entity or any form of regulation. When choosing a trading platform, investors should carefully consider and prioritize those that are regulated and have transparent information to ensure the safety of their funds and minimize investment risks.
