Sky Digital

Sky Digital | 2022-11-09 10:34

Resumo：Sky Digital is allegedly a forex broker registered in Turkey that claims to provide its clients with leverage up to 1:400 and floating spreads from 1.5 pips on the web-based trading platform.

Note: Sky Digital is to operate via the website - https://sky-digital.online/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information & Regulation

Feature	Detail
Regulation	No Regulation
Market Instrument	forex currency pairs
Account Type	N/A
Demo Account	N/A
Maximum Leverage	1:400
Spread (EUR/USD)	1.5 pips
Commission	N/A
Trading Platform	web
Minimum Deposit	$500
Deposit & Withdrawal Method	Credit/Debit card

Sky Digital is allegedly a forex broker registered in Turkey that claims to provide its clients with leverage up to 1:400 and floating spreads from 1.5 pips on the web-based trading platform.

As for regulation, it has been verified that Sky Digital currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.28/10. Please be aware of the risk.

Market Instruments

Sky Digital advertises that it is a forex broker that mainly offers forex currency pairs trading. However, more specific information about tradable assets cannot be found on the Internet.

Leverage

From the information on the Internet, we read that the leverage with the Mini account at Sky Digital is 1:400. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads

As tested on Sky Digitals web-based trading platform, the EUR/USD spread is 1.5 pips, which equals the industry average.

Trading Platform Available

Instead of the world's most advanced and popularly-used MT4 and MT5 platforms, Sky Digital gives traders a web-based trading platform. Whatever, it is advised for traders, especially for beginners to choose brokers who offer the leading MT4 and MT5 trading platforms, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors.

Deposit & Withdrawal

The single funding method with Sky Digital is Credit/Debit card. The minimum initial deposit requirement is said to be as high as $500, and the minimum withdrawal amount is $50.

Customer Support

Sky Digitals customer support can be reached by telephone: +966596356301, email: support@sky-digital.online. Company address: Riyadh, Al Kharj road 11564, Saudi Arabia.

Pros & Cons

Pros	Cons
N/A	• No regulation
	• Website inaccessible
	• High minimum initial deposit requirement
	• Single payments offered

Frequently Asked Questions (FAQs)

Q 1:	Is Sky Digital regulated？
A 1:	No. It has been verified that Sky Digital currently has no valid regulation.

Q 2:	Does Sky Digital offer the industry-standard MT4 & MT5？
A 2:	No. Instead, Sky Digital offers a web-based trading platform.

Q 3:	What is the minimum deposit for Sky Digital？
A 3:	The minimum initial deposit with Sky Digital is as high as $500.

Q 4:	Does Sky Digital charge a fee？
A 4:	Like every forex broker, Sky Digital charges a spread fee. While the information on other fees like commissions, deposit & withdrawal processing fees are missing.

Q 5:	Is Sky Digital a good broker for beginners？
A 5:	No. Sky Digital is not a good choice for beginners. Not only because of its unregulated condition, but also because of its inaccessible website and high initial deposit.