WikiFX, as an independent third-party information service platform, is dedicated to providing users with comprehensive and objective broker regulatory information services. WikiFX does not directly engage in any forex trading activities, nor does it offer any form of trading channel recommendations or investment advice. The ratings and evaluations of brokers by WikiFX are based on publicly available objective information and take into account the regulatory policy differences of various countries and regions. Broker ratings and evaluations are the core products of WikiFX, and we firmly oppose any commercial practices that may compromise their objectivity and fairness. We welcome supervision and suggestions from users worldwide. To report any concerns, please contact us: report@wikifx.com
您当前语言与浏览器默认语言不一致,是否切换?
切换
Global Broker Regulation & Inquiry App

Score

0123456789
.
0123456789
0123456789
/10

SK markets

United States|1-2 years|
High potential risk|

https://www.skmarketsfx.net/

Website

Rating Index

Contact

+1 617 798 0330
support@skmarketsfx.com
https://www.skmarketsfx.net/
1585 Broadway, Midtown Manhattan, West of Broadway, New York City, USA.

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+1 617 798 0330

Other ways of contact

Broker Information

More

Company Name

SK markets

Abbreviation

SK markets

Platform registered country and region

United States

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 2
Previous Detection : 2024-11-03
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

SK markets · WikiFX Survey

Users who viewed SK markets also viewed..

XM

9.05
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)
Official website

EC Markets

9.05
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)
Official website

STARTRADER

8.63
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)
Official website

AUS GLOBAL

8.23
Score
10-15 yearsRegulated in CyprusMarket Making(MM)
Official website

SK markets · Company Summary

SK markets Review Summary
Founded2010
Registered Country/RegionUnited States
RegulationUnregulated
Market Instruments11,000+, Forex, Indices, ETFs & ETNs, Options, Commodities, Stock CFDs
LeverageUp to 1:30 (for Retail Traders)
Up to 1:200 (for Professional Traders)
Trading PlatformsWebTrader, Tradingweb Mobile App
Minimum Deposit$500
Payment MethodsVisa, Mastercard, Skrill, Nasdaq, Cboe, Cloudflare
Customer SupportPhone: +1 617 798 0330
Email: support@skmarketsfx.com

SK markets Information

SK markets is an unregulated online brokerage established in 2010. It offers a user-friendly trading experience through its WebTrader and Tradingweb Mobile App, accepting various payment methods including Visa, Mastercard, Skrill, Nasdaq, Cboe, and Cloudflare. SK markets prioritizes client experience with features like direct exchange access for zero markups and 24/5 multilingual customer support.

SK markets Information

Pros & Cons

ProsCons
Diverse Assets SelectionUnregulated
App AvailableMinimum Deposit Requirement
Security Measures to Ensure Fund Safety

Is SK markets Legit or a Scam?

SK markets is unregulated by any regulatory authorities.

Market Instruments

The most popular trading assets over 11,000 in the forex world are accessible at SK Markets, including Forex, Index, ETF and ETN, Options, Commodity, and stock CFDs.

Clients can trade major, minor, and exotic currency pairs in the Foreign Exchange market.

For equity exposure, the platform offers CFDs on major indices like the S&P 500 and DAX30.

To diversify portfolios, traders can invest in ETFs and ETNs representing a basket of assets.

Options trading allows for complex strategies based on underlying stocks, indices, and commodities.

Commodity traders can access precious metals, energy, and agricultural products.

Finally, stock CFDs enable speculation on individual share prices without owning the underlying shares.

Market Instruments

Account Types

SK markets offers different account types to suit different needs, among which the multi-asset trading account is the most common, designed to enhance customers' trading experiences by enabling them to trade multiple assets through a single account. This account, accessed through the SK markets Platform, operates with the base currency of USD. In this account, there are five different plans for different levels of traders.

Account comparison

Bronze Plan: The Bronze plan is an entry-level account, requiring a minimum deposit of $500. It charges a fee of $0.01 per share traded, with a minimum fee of $1.50. This plan is suitable for traders who are starting and prefer to trade in smaller volumes.

Silver Plan: The Silver plan requires a minimum deposit of $5,000. It offers a lower fee per share of $0.008 compared to the Bronze plan, with the same minimum fee of $1.5. This plan is suitable for traders who trade in slightly higher volumes and want a lower per-share fee.

Gold Plan: The Gold plan requires a minimum deposit of $10,000. It offers a further reduced fee per share of $0.007, with the same minimum fee of $1.50. This plan is suitable for traders who trade more frequently and in higher volumes.

Platinum Plan: The Platinum plan requires a minimum deposit of $25,000. It offers a fee per share of $0.006, which is lower than the previous plans, with a reduced minimum fee of $1.25. This plan is suitable for experienced traders who trade in significant volumes.

Diamond Plan: The Diamond plan is the highest tier, requiring a minimum deposit of $50,000. It offers the lowest fee per share of $0.005, with a minimum fee of $1. This plan is suitable for professional traders and institutions who trade in large volumes and require the lowest possible fees.

Leverage

SK markets offers varying leverage rates depending on whether you are a retail trader or a professional trader. A retail investor who meets certain criteria may request to be treated as a professional client. This is a regulatory classification which defines investors that possess the experience and knowledge to make their own investment decisions and properly assess risks.

Leverage

For retail traders, the leverage rates are more conservative, with a maximum of 1:30 for major currency pairs and lower rates for other instruments like stocks and commodities. This means that for every dollar in your trading account, you can control up to $30 worth of a major currency pair.

On the other hand, professional traders are offered higher leverage rates, ranging from 1:5 to 1:200 depending on the instrument. This allows professional traders to control larger positions with a relatively smaller amount of capital.

Spreads & Commissions

SK markets offers two types of trading accounts on the Tradingweb Platform: Spread-based plans and Commission-based plans. For details on real-time spreads and commissions, please visit the website: https://www.skmarketsfx.com/pricing1.html.

Spread-based plans: In these plans, the spread is incorporated into the quoted buy and sell prices. The spread is the difference between the Bid and Ask prices of a certain instrument. SK markets provides average spread information for different currency pairs under various account plans such as Bronze, Silver, Gold, and Platinum. For example, in the Bronze plan, the spread for the AUDUSD pair is 0.00042, and the long and short SWAP rates are also provided. The spread varies based on market conditions and the times of trading.

Spread-based plans

Commission-based plans: In these plans, traders pay a fee on the execution of a transaction in addition to the spread. These plans are structured with a tighter spread. SK markets offers commission-based plans like Basic, Standard, VIP, and Premium VIP. For example, in the Basic plan, the commission for the AUDUSD pair is $14.5 per lot, and the spread is 0.00013. The long and short SWAP rates are also provided for each instrument.

Commission-based plans

Trading Platforms

SK markets offers two trading platforms for its clients: WebTrader and Tradingweb Mobile App. Both offer a range of tools and features to cater to your needs, whether you are a beginner or an experienced professional.

WebTrader: This platform is accessible through web browsers, allowing traders to access their accounts from any device with an internet connection. WebTrader provides a user-friendly interface and a range of features to help traders analyze the markets and execute trades. It supports trading in a variety of instruments, including forex, indices, commodities, and cryptocurrencies.

WebTrader

Tradingweb Mobile App: The Tradingweb Mobile App is designed for traders who prefer to trade on the go. It is available on Google Play and Apple Store, offering powerful functionality for trading Forex anytime and anywhere in the world. The app provides complete control over a trading account, allowing traders to execute trades, view trade history, and access interactive charts with various timeframes and technical indicators.

Tradingweb Mobile App

Deposits & Withdrawals

Deposits and withdrawals with SK markets are straightforward processes, but they come with certain guidelines and fees. When making a deposit, you can do so through various payment methods, including Visa, Mastercard, Skrill, Nasdaq, Cboe, and Cloudflare.

There is no charge for incoming wire transfers, making it convenient for clients to fund their trading accounts without incurring additional fees. For withdrawals, the process is also simple but involves fees. The first withdrawal of the month, if it's less than $500, is free. However, subsequent withdrawals or withdrawals exceeding $500 incur a fee of $40 per wire (or 30 EUR for Euro-based accounts).

Payment options

Customer Service

To give SK markets' users more convenience to connect with the customer support team, they give email support anytime. However, for those who attach importance to responding timely, you can only chat with them +1 617 798 0330 from 9:00 a.m. to 6:00 p.m. U.S time.

What's more, if you are near their offline office, you can contact their staff face to face.

Customer Service

Conclusion

SK markets presents itself as a well-equipped broker, offering a diverse selection of assets, user-friendly platforms, and security measures. Their account tiers cater to different trading styles and volumes, and the mobile app provides flexibility for on-the-go trading.

Frequently Asked Questions (FAQs)

What trading platforms does SK markets provide?

SK markets offers two user-friendly trading platforms: WebTrader and Tradingweb Mobile App.

What is the minimum deposit required to start trading with SK markets?

The minimum deposit required to open an account with SK markets is $500.

How can I fund my SK markets account?

SK markets offers deposit options like incoming wire transfers (free of charge) and potentially other methods such as Visa, Mastercard, and Skrill.

Are there any fees associated with withdrawing funds from SK markets?

While the first withdrawal per month is free (under $500), subsequent withdrawals or those exceeding $500 incur a $40 fee (or €30 for Euro accounts).

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.

Review 4

4 Comments
Write a comment
All(4) Latest Positive(2) Neutral(1) Exposure(1)
Write a comment
TOP

Chrome

Chrome extension

Global Forex Broker Regulatory Inquiry

Browse the forex broker websites and identify the legit and fraud brokers accurately

Install Now

Select Country/Region
  • Hong Kong

  • Taiwan

    tw.wikifx.com

  • United States

    us.wikifx.com

  • South Korea

    kr.wikifx.com

  • United Kingdom

    uk.wikifx.com

  • Japan

    jp.wikifx.com

  • Indonesia

    id.wikifx.com

  • Vietnam

    vn.wikifx.com

  • Australia

    au.wikifx.com

  • Singapore

    sg.wikifx.com

  • Thailand

    th.wikifx.com

  • Cyprus

    cy.wikifx.com

  • Germany

    de.wikifx.com

  • Russia

    ru.wikifx.com

  • Philippines

    ph.wikifx.com

  • New Zealand

    nz.wikifx.com

  • Ukraine

    ua.wikifx.com

  • India

    in.wikifx.com

  • France

    fr.wikifx.com

  • Spain

    es.wikifx.com

  • Portugal

    pt.wikifx.com

  • Malaysia

    my.wikifx.com

  • Nigeria

    ng.wikifx.com

  • Cambodia

    kh.wikifx.com

  • Italy

    it.wikifx.com

  • South Africa

    za.wikifx.com

  • Turkey

    tr.wikifx.com

  • Netherlands

    nl.wikifx.com

  • United Arab Emirates

    ae.wikifx.com

  • Colombia

    co.wikifx.com

  • Argentina

    ar.wikifx.com

  • Belarus

    by.wikifx.com

  • Ecuador

    ec.wikifx.com

  • Egypt

    eg.wikifx.com

  • Kazakhstan

    kz.wikifx.com

  • Morocco

    ma.wikifx.com

  • Mexico

    mx.wikifx.com

  • Peru

    pe.wikifx.com

  • Pakistan

    pk.wikifx.com

  • Tunisia

    tn.wikifx.com

  • Venezuela

    ve.wikifx.com

United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com