I am currently looking to choose my 1st FX broker and I have received phone calls from Skyfx.com representatives during the last weeks proposing me to trade with them. I have googled them in an attempt to find reviews and ratings about them but I have not found much.
So I was wondering if anybody on babypips has been trading with them. I would really appreciate to get some reviews of this broker, since it seems to be offering everything I need from a broker according to what they told me (decent fixed spreads, no comission fees, no withdrawal fees, very quick withdrawals, great customer service with daily analysis sent by email).
The lack of reviews on internet scared me so I thought it would’t be a bad idea to post a thread here to see if some of you guys have ever traded with them, or even just heard of them.
3 pip on EURUSD, 4 pip on GBPUSD…that’s not “decent” spreads in my eyes.
Just because they have been calling you, don’t automatically think you need to trade with them.
With regards to the rest:
no commission fees - well of course, the commission is included in the spread, plus they are MM so will keep you on their books so your loss=their gain . So nothing new there.
no withdrawal fees - pretty standard, nothing special there
very quick withdrawals - let’s face it, you are just starting, more than likely you won’t be making so many consistant gains which would warrant the need for constant withdrawals. And even if so, 1 hour or 2 days,not much difference. if you need the money that badly, that’s not good
great customer service - hey, may be the case, don’t know them. But then again you will only find out once you join, by which point if it’s good or not it’s not much difference.
daily analysis sent by email - again, nothing new or special, there are plenty of analysis you can receive even without joining a broker
Sorry to sound like an ass, but it’s just my opinion and sharing it.
Good luck whatever you decide