Skyline Trading presents itself as an Electronic Communication Network (ECN) broker that connects traders directly with liquidity providers, using an electronic communication network.
It claims to be licensed by the Anjouan Offshore Finance Authority. For starters, this body regulates offshore financial service providers operating from the Anjouan island. The island lies on the Indian Ocean off Africa’s eastern coast.
Funny enough, I checked and did not find the broker’s name on the Anjouan register, suggesting that the purported ECN broker might be falsely claiming regulatory approval from this offshore regulator. It raises serious doubts about its legitimacy, as legitimate brokers typically have verifiable regulatory statuses.
| Company | Skyline Trading |
| Website | skylinetrading.com |
| administration@skylinetrading.com |
This is a common tactic used by many dubious brokers to deceive investors and create a false sense of security. To illustrate just how widespread it is, here are five fraudulent brokers and trading platforms I’ve reviewed that use this approach:
1. Stellar Invest(investstellar.com).
3. Rohkatech broker(Rohkatech.com)
4. Canada-Crypto.Com broker.
2. Negative Skyline Trading Reviews On Google
When you search for “skylinetrading.com” on Google, two negative reviews about Skyline Trading immediately appear on the first page.
The first review comes from WikiFX, a platform that provides information about forex brokers. Notably, WikiFX has given Skyline Trading a trust score of less than 2 out of 10, with 10 being the highest possible score, as shown in the screenshot below. The platform has also strongly advised potential investors to avoid Skyline Trading.
The second review is from Medium, an online publishing platform where individuals share their thoughts and articles. The title of this post suggests that Skyline Trading is a scam, and the author even provides steps for victims to recover their funds from this alleged broker.
The fact that two negative reviews appear on the first page of search results raises significant concerns about Skyline Trading’s trustworthiness. More negative reviews likely exist on subsequent pages. This only strengthens the view that this broker may indeed be a scam.
3. Obscured IP Address
It’s worth noting that the skylinetrading.com domain uses an IP address associated with Cloudflare, a Content Delivery Network (CDN), and a Distributed Denial of Service(DDOS) protection service.
There’s no denying that many legitimate online businesses use Cloudflare’s various services to improve performance, security, and reliability. However, Skyline Trading’s usage of these services to mask its true IP address details raises concerns.
After all, this broker has made false regulatory claims, falsely stating that it’s regulated by a certain offshore authority. On top of that, this so-called ECN broker has been reviewed negatively on various platforms, including WikiFX and Medium.
This pattern of tactics only adds to the suspicions surrounding its trustworthiness.
4. Skyline Trading Employs Brandjacking Tactics
Have you ever heard about the term “brandjacking”? For starters, it’s the exploitation of the names of established brands for fraudulent or negative purposes.
When you search the keyword “Skyline Trading”, Google returns many businesses with this particular name. These entities are legitimate and have earned trustworthy reputations across various industries.
For example, Skyline Trading AG(www.skyline-trading.ch) is a legitimate, Swiss-based company that offers professional advice on investment strategies, particularly in stock options. It also provides financial consulting and asset management services.
Another company, Skyline Trading(www.skylinefzllc.com), is a lawful UAE-based entity specializing in supplying goods and services across various industries, such as manufacturing, aviation, packaging, and stationery.
Did you know that using a business name shared by legitimate companies is a common deceptive tactic employed by scammers? Fraudsters are aware that many investors don’t thoroughly check the details during their due diligence.
When they see that a business name is shared by several established companies, they may wrongly assume the broker using that name is also trustworthy. However, this is often not the case. It’s always a matter of employing brand name confusion tactics to give the illusion of legitimacy and gain your trust.
5. A Negative Review On YouTube
Nowadays, broker reviewers have dedicated Youtube channels besides blogs, for publishing broker reviews and analysis. This has facilitated the process of doing due diligence for investors who are keen on not falling victim to scammers.
For example, the Liberty Reviews Official YouTube channel with over 1k subscribers, has published a negative review of Skyline Trading, urging viewers to stay alert. It has stated that Skyline Trading is not a broker, but an ordinary yet very dangerous scammer.
You can watch the review by copying the following link on your browser: (https://www.youtube.com/watch?v=DDyPuJwo1E8).
This kind of review, along with the warning to stay alert, raises significant doubts about the trustworthiness of skylinetrading.com. When such a widely viewed YouTube broker review platform declares a broker as a scam, it certainly implies that the broker is a scam.
6. Skylinetrading.com Lists a Suspicious Physical Location
Most online trading platforms you may chance upon while browsing are scams.
LiteFinance.org states that more than 1000 platforms appear on Forex every year and vanish with investors’ funds.
Throughout the course of my investigative work, I’ve come to discover that most scam brokers state some offshore destination to be their physical address. It’s normally some island somewhere. The Saint Vincent and the Grenadines(SVG) alongside the Saint Lucia islands are normally the most common choices for scammers.
This has made a lot of people view offshore brokers with skepticism.
The Skyline Trading broker claims to be registered in the Island of ANJOUAN Union of Comoros, with an overseas office in India.
I find this to be strange because this island, just like the Union of Comoros, is generally considered economically underdeveloped. Matter of fact, the country where this island lies, Comoros, ranks among the poorest countries globally. Internet access and digital infrastructure remain relatively underdeveloped. Only about 25-30% of the population have access to the internet.
Electronic Communication Network brokerages rely heavily on the Internet. Their entire business model depends on fast, direct electronic transactions between liquidity providers and traders.
No broker with a sane mind would establish operations in a country with underdeveloped internet infrastructure where only 25-30% of the population can access the Web.
Skylinetrading.com doesn’t seem to be operating from this offshore destination. I think it’s just a fabricated story to obscure the purported broker’s true physical location.
My Final Verdict On Skyline Trading
Based on the red flags I just highlighted above, Skyline Trading doesn’t seem to be a trustworthy ECN broker. You wouldn’t trust a purported broker that makes false claims of regulatory approval, employs brandjacking tactics, and obscures their IP address details.
Furthermore, this entity has garnered a low trust score on WikiFX and negative reviews on various platforms, including medium.com and YouTube.
Plus, it makes seemingly fabricated physical location claims.
Such a platform poses significant risks to you as an investor, who may easily fall victim to its disguised fraudulent schemes. I strongly advise you to not engage in any financial dealings with this so-called ECN broker.
Report A Scammer
Have you fallen victim to a dubious broker? If so, go to this page to report the scammer and seek assistance. You may also send an email to scamread@scamreader.info.