Overview of Skyway

Skyway Financial is a United Kingdom based forex and CFD broker that was founded in 2018. The company is regulated by the Financial Services Authority (FSA) and offers a variety of trading accounts, including Standard, Silver, Gold, and Platinum. Skyway Financial also provides a demo account, 24/5 customer support, and a variety of educational resources.

Skyway Financial is a decent choice for forex and CFD traders who are looking for a regulated broker with a wide range of trading instruments. However, traders should be aware of the potential risks of the forex and CFD markets, and should only trade with money that they can afford to lose.

Pros and Cons

Pros:

• Good range of tradable assets: Skyway Financial offers a wide range of tradable assets, including forex, CFDs, indices, commodities, and cryptocurrencies. This gives traders a lot of flexibility in choosing what they want to trade.

• Competitive pricing: Skyway Financial's spreads and commissions are competitive with other brokers. This means that traders can keep more of their profits.

• Variety of account types: Skyway Financial offers a variety of account types to suit different traders' needs and experience levels. This includes standard, silver, gold, and platinum accounts.

• Demo account available: Skyway Financial offers a demo account, which allows traders to practice trading with virtual money before they risk any real money. This is a great way to learn how to use the trading platform and to test out different trading strategies.

• 24/5 customer support: Skyway Financial offers 24/5 customer support via live chat, email, and phone. This means that traders can get help when they need it, even outside of regular business hours.

Cons:

• Mixed reputation online: Skyway Financial has a mixed reputation online, with some customers reporting positive experiences and others reporting negative experiences. It is important to be aware of this before opening an account.

• Some customers report negative experiences: Some customers have reported having difficulty withdrawing funds from Skyway Financial. It is important to read the terms and conditions carefully before depositing any money to make sure that you understand the withdrawal process.

• Can be difficult to withdraw funds: Some customers have reported having difficulty withdrawing funds from Skyway Financial. It is important to read the terms and conditions carefully before depositing any money to make sure that you understand the withdrawal process.

• Customer support is not always responsive: Some customers have reported that Skyway Financial's customer support is not always responsive. This can be frustrating if you have a problem and need help quickly.

• Limited educational resources: Skyway Financial's educational resources are limited compared to some other brokers. This is something to keep in mind if you are new to trading and need help learning the basics.

Regulatory Status

Skyway is not regulated by any major financial regulators, such as the Financial Conduct Authority (FCA). This means that Finaxontrade is not subject to the same level of oversight as regulated brokers.

There are a few reasons why Finaxontrade may not be regulated. One possibility is that Finaxontrade is a new broker and has not yet had the time to apply for a regulatory license. Another possibility is that Finaxontrade is not located in a country that has strict financial regulations.

Whatever the reason, it is important to be aware that Finaxontrade is an unregulated broker. This means that there is no guarantee that Finaxontrade is a reputable company or that your funds are safe.

Market Instruments

Skyway Financial offers a variety of products, including forex, CFDs, indices, commodities, and cryptocurrencies. They also offer a variety of account types, including Standard, Silver, Gold, and Platinum. I will go over each product in more detail below:

Forex

Forex trading, or foreign exchange trading, is the buying and selling of currencies. Skyway Financial offers a wide range of forex pairs, including EUR/USD, USD/JPY, and GBP/USD. They also offer competitive spreads on their forex pairs.

CFDs

CFDs, or contracts for difference, are a type of derivative that allows traders to speculate on the price of an underlying asset without actually owning the asset. Skyway Financial offers a wide range of CFDs, including CFDs on stocks, indices, commodities, and cryptocurrencies. They also offer competitive margins on their CFDs.

Indices

Indices are baskets of stocks that track the performance of a particular market or sector. Skyway Financial offers a wide range of indices, including the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite. They also offer competitive spreads on their indices.

Commodities

Commodities are raw materials that are traded on exchanges. Skyway Financial offers a wide range of commodities, including gold, silver, oil, and natural gas. They also offer competitive spreads on their commodities.

Cryptocurrencies

Cryptocurrencies are digital or virtual tokens that use cryptography for security. Skyway Financial offers a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. They also offer competitive spreads on their cryptocurrencies.

Account Types

Skyway Financial offers a variety of account types to suit different traders' needs and experience levels. This includes standard, silver, gold, and platinum accounts.

Standard Account:

• Minimum deposit of $100

• Maximum leverage of 500:1

• Variable spreads

Silver Account:

• Minimum deposit of $500

• Maximum leverage of 400:1

• Variable spreads

Gold Account:

• Minimum deposit of $1,000

• Maximum leverage of 300:1

• Variable spreads

Platinum Account:

• Minimum deposit of $5,000

• Maximum leverage of 200:1

• Variable spreads

In addition to the products and account types listed above, Skyway Financial also offers a demo account and 24/5 customer support.

How to Open an Account？

To open an account with Skyway, you can follow these steps:

1. Visit the Skyway Financial website

Go to the Skyway Financial website and click on the “Open Account” button.

1. Choose an account type

Skyway Financial offers a variety of account types to suit different traders' needs and experience levels. Select the account type that is right for you and click on the “Next” button.

1. Enter your personal information

You will be asked to enter your personal information, such as your name, email address, phone number, and country of residence. Once you have entered your information, click on the “Next” button.

1. Verify your identity

Skyway Financial is a regulated broker and is required to verify the identity of all new clients. You will be asked to upload a copy of your government-issued ID and a proof of address. Once you have uploaded your documents, click on the “Next” button.

1. Fund your account

You can fund your account using a variety of methods, including credit/debit cards, e-wallets, and bank transfers. Once you have funded your account, click on the “Next” button.

1. Start trading

Once your account is funded, you can start trading. You can use the MetaTrader 4 or MetaTrader 5 trading platforms to trade forex, CFDs, indices, commodities, and cryptocurrencies.

Spreads & Commissions

Skyway Financial offers variable spreads for all asset classes. This means that the spread, which is the difference between the buy and sell price of an asset, can fluctuate depending on market conditions. Skyway Financial's spreads are typically competitive with other brokers.

Here is a table of Skyway Financial's average spreads for different asset classes:

Please note that these are just averages, and the actual spreads may be higher or lower depending on market conditions.

Skyway Financial does not charge any commissions on trades. This means that you will only pay the spread when you open and close a position.

Leverage

Skyway Financial offers maximum leverage of up to 500:1 for all account types. This means that for every $1 you deposit, you can trade up to $500 worth of currency. This can be a great way to increase your profits, but it also comes with increased risk. If the market moves against you, you could lose more money than you deposited.

Here is a table of Skyway Financial's maximum leverage for different asset classes:

Trading Platform

Skyway Financial offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. These are two of the most popular trading platforms in the world, and they are known for their user-friendly interface and powerful features.

MT4 is the older of the two platforms, and it is still widely used by traders around the world. It is a good choice for beginners, as it is easy to learn and use. MT5 is the newer of the two platforms, and it is more powerful than MT4. Both MT4 and MT5 are available for desktop, mobile, and web. This means that you can trade from anywhere in the world, as long as you have an internet connection.

Overall, the Skyway Financial trading platform is a good choice for both beginners and experienced traders. It is easy to use, offers a wide range of features, and supports a wide range of tradable assets. However, it is important to be aware of limited educational resources and occasional customer support issues.

Deposit & Withdrawal

Payment Methods

Skyway Financial offers a variety of payment methods for deposits and withdrawals. These methods include:

• Credit/debit cards: Visa, Mastercard, Maestro

• E-wallets: Skrill, Neteller, Perfect Money

• Bank transfers: Wire transfers

• Cryptocurrencies: Bitcoin, Ethereum, Litecoin

The minimum deposit amount for all payment methods is $100. The maximum withdrawal amount varies depending on the payment method.

Fees

Skyway Financial charges a number of fees, including:

• Deposit fees: There are no deposit fees for credit/debit cards or e-wallets. There is a $30 fee for wire transfers.

• Withdrawal fees: There is a $30 fee for withdrawals to credit/debit cards and e-wallets. There is a $50 fee for withdrawals to bank transfers.

• Trading fees: Skyway Financial charges spread variable spreads on all trades. The spreads are typically competitive with other brokers.

Here is a table summarizing the fees charged by Skyway Financial:

Customer Support

Skyway Financial offers 24/5 customer support via email at info@skywayworld.com. The company's customer support team is available to assist with a wide range of issues, including account openings, deposits and withdrawals, trading questions, and technical support. In addition to the above, Skyway Financial also offers a number of self-help resources, including a FAQ section, a knowledge base, and video tutorials.

Overall, Skyway Financial's customer support is good. The company offers a variety of support channels, including live chat, email, and phone. The company's customer support team is also knowledgeable and responsive.

Educational Resources

Skyway Financial offers a variety of educational resources to help traders learn about forex trading, CFDs, indices, commodities, and cryptocurrencies. These resources include:

• Webinars: Skyway Financial hosts live webinars on a variety of topics, including technical analysis, fundamental analysis, and risk management.

• Tutorials: Skyway Financial offers a library of tutorials that cover a wide range of topics, from beginner basics to advanced trading strategies.

• Glossary: Skyway Financial maintains a glossary of forex and CFD trading terms.

• FAQ: Skyway Financial has a comprehensive FAQ section that answers common questions about forex trading, CFDs, indices, commodities, and cryptocurrencies.

Skyway Financial's educational resources are available in a variety of formats, including text, videos, and infographics. This makes them accessible to traders of all learning styles.

Conclusion

In conclusion, Skyway Financial is a mid-tier forex and CFD broker that offers a good range of features and competitive pricing. They offer a variety of account types, trading platforms, and tradable assets. They also offer 24/5 customer support and a variety of educational resources. However, Skyway Financial has a mixed reputation online, and some customers have reported negative experiences. They also have limited educational resources compared to some other brokers. Overall, Skyway Financial is a good choice for traders who are looking for a low-cost broker with a wide range of features.

FAQs

Q: What is the maximum leverage for Skyway Financial？

A: The maximum leverage for Skyway Financial is 500:1.

Q: What spreads does Skyway Financial offer？

A: Skyway Financial offers variable spreads. The spreads are typically competitive with other brokers.

Q: Does Skyway Financial charge any commissions？

A: No, Skyway Financial does not charge any commissions on trades.

Q: What trading platforms does Skyway Financial offer？

A: Skyway Financial offers MetaTrader 4 and MetaTrader 5.

Q: What tradable assets does Skyway Financial offer？

A: Skyway Financial offers a wide range of tradable assets, including forex, CFDs, indices, commodities, and cryptocurrencies.

Q: Does Skyway Financial offer demo accounts？

A: Yes, Skyway Financial offers demo accounts.

Q: What customer support does Skyway Financial offer？

A: Skyway Financial offers 24/5 customer support via live chat, email, and phone.

Q: What educational resources does Skyway Financial offer？

A: Skyway Financial offers a variety of educational resources, including webinars, tutorials, and a glossary.