Skyion Group : A Legitimate Broker or a Scam?

Skyion Group purports to offer all the hottest trading products. But is skyiong.com a trustworthy trading platform or just another scam? To find out, read my independent Skyion Group review below, which starts with the company’s summary information:

To answer the above question as to the trustworthiness of Skyion Group, I’m sorry to inform you that this supposed trading platform is a scam. 

I recently signed up to investigate the platform after which I noticed several issues consistent with fraudulent trading platforms. 

A screenshot image shows what Skyion Group looks like when you log into your account. 

For example, the purported broker provides a false company registration number and information regarding their physical location. In addition to that, they lack transparency, withholding essential information such as their minimum deposit requirements from the public. On top of that, they promise enticing but fake financial perks e.g. high leverage levels of up to 1:300 and a swap discount of up to 25%. 

These are classic tactics professional fraudsters pretending to be financial brokers tend to use to lure unsuspecting investors into their traps. Add them to the fact that Skyion Group doesn’t provide free demo accounts and you know that you’re looking at another con artist in the name of a broker. 

Here’s a further elaboration of the above points in detail:

1. Skyion Group Telephone Numbers Suggest That The Purported Broker Is In Canada As Opposed To Norway

This broker has provided +16136864584 and +14037759361 as their telephone numbers. 

As you may already know, a telephone number normally starts with its country-specific dialing code followed by an 8-digit number. 

In this case, the first telephone number begins with +161 followed by the 8-digit number “36864584” such that it looks like this “+16136864584.” Similarly, the second telephone number starts with +140 followed by this 8-digit number “37759361” so that it looks as follows “+14037759361.” 

Now here’s where it gets interesting;

The broker claims to be based in Norway. However, Norway’s dialing code is +47 and not +161 or +140, dialing codes that this broker’s telephone numbers start with. 

Instead, these two country dialing codes(+161 or +140) are for Canada, suggesting that these two numbers “+14037759361” and “+14037759361” are operated in the North American country. Taking that into account, it seems that the Skyion Group scammer operates from Canada as opposed to Norway from which they claim to operate. 

2.  The Fake Registration Number Details On The Product Website Indicate Malicious Intentions

To begin with, the Skyion Group website displays a fake registration number “0164.” Nonetheless, the Financial Supervisory Authority of Norway(Finanstilsynet) is the body that oversees all financial services providers operating in Norway. 

I’d like to point out that I ran the purported company registration number “0164” on Finanstilsynet’s registry without finding any result. Similarly, I looked up the name “Skyion Group” on the registry, and, again, I did not find a result. 

This means that the company registration details shown on this fraudulent broker’s website are fake. The misleading information is intended to give you a false impression of a registered financial brokerage company operating legally in Norway. 

This is a classic trick common with many scam brokers including Allup Intl, who I brought to the public limelight a few weeks ago. Speaking of which, here’s the Allup Intl review post. 

3. The Absence of The Required Minimum Deposit,  Broker’s Fee As Well As Commission Details 

Similar to the Everest Trust scam broker, whom I wrote about the other day, Skyion Group has deliberately failed to disclose its minimum deposit requirements, fees, and commissions for obvious reasons. 

For example, their business approach is underpinned by constantly changing deception tactics. Additionally, the scammer is trying to give potential investors an impression of flexibility, hoping to manipulate and swindle them. 

Other reasons include; scrutiny avoidance, intentions to lure higher investments, and to make it harder for investors to compare them with other brokers while trying to make informed trading decisions. 

4. Promises of Bogus Financial Perks

Nonetheless, Skyion Group promises enticing but fake financial perks. These advantages include leverage levels up to 1:300 and a swap discount of up to 25%.

This fraudster, masquerading as a competitive broker, uses this deceptive tactic to manipulate their perceived value, appear profitable, and attract investors especially those driven by the motive to make profits quickly.

It’s also a strategy for them to distract skeptical clients from the red flags, encouraging larger deposits from more investors.  

5. The Absence of Demo Trading Accounts

Demo trading accounts are a typical feature provided by trustworthy financial services brokers. After all, these simulated trading accounts enable traders, especially beginners to practice trading without using actual funds. 

They can test and improve their trading strategies in a real market environment and gain real experience as far as price movements and other aspects of market conditions go.

Demo accounts are also a great tool for new traders to learn how to manage risk, using various risk management techniques without risking losing their funds.

These real trading simulators also allow investors to evaluate a broker’s services and understand the broker’s trading platform well before depositing money. 

Do you know why con artists posing as legitimate brokers never want anything to do with demo trading accounts? It’s because these unreal trading accounts can help investors discover their fraudulent market manipulation practices just by exposing the tricks. These tricks include rigging market prices, displaying fake trading volumes, churning, and front running. 

6. Broker News’s Report As Published On YouTube

At the time of writing this honest Skyion Group review, only a single YouTube channel had published a video review of this unethical broker. 

Broker News reported that Skyion Group is a new scammer that intends to fool investors in 2024. The channel points out that the company’s background information is unclear, stating that even the Norwegian address provided on its website is unverifiable. 

7. The Use of Fake Trustpilot Skyion Group Reviews

Notably, Skyion Group has accumulated 5 positive reviews on Trustpilot, all of which rate this broker with 5 stars. This might create a misleading impression that customers are generally happy with the services of this broker. However, in reality, those reviews are fake. Why am I saying this?

Firstly, as mentioned, all the reviews give the company a 5-star rating. Yet, Trustpilot gives it an average trust score of 4.1 stars.

Ideally, if an entity has garnered positive reviews all of which are 5-star, it should have a 5-star overall Trustpilot rating. At least, that’s what logic dictates.

Secondly, it’s very rare for a business to satisfy everyone, unlike in the case of Skyion Group on Trustpilot. After all, customers have different expectations, personal perceptions, and experiences with products.

Secondly, it doesn’t make sense that despite the website being launched in 2023, it garnered all the reviews between January 25th and 26th 2024. It seems that the scammer paid unscrupulous authors between the two dates to write misleading reviews of their scam offering. 

The Trustpilot reviews of Skyion Group are probably fake and incentivized. The broker’s agenda is to create a false impression of a trustworthy financial services broker whose services investors find satisfactory.   

My Final Verdict On Skyion Group

Skyion Group is a cunning scam broker who pretends to be based in Norway and registered by a regulatory authority. This trickster lacks transparency and has deliberately failed to disclose their minimum deposit requirements, as well as fees, commissions, and other charges.

To entice unsuspecting investors, they promise hard-to-resist but fake financial perks. These include high leverage levels of up to 1:300 and a swap discount of up to 25%. 

Pursue Your Funds!!!

Have you been scammed by Skyion Group or a similar broker?  If so, and you have evidence, go to this page to report the scammer and seek assistance. Or send an email to scamread@scamreader.info.