Note: Report Scam Community has conducted many researches before flagging Skyo Microfinance Bank Limited as a possible scam in this Skyo Microfinance Bank Limited Review.
Is Skyo Microfinance Bank Limited a scam or legit?
Skyo Microfinance Bank Limited is an offshore or unreliable broker which is not regulated by any reputed regulation authority in its region. This broker offers trading and investment services in many countries without having a license from any regulatory authority in its country like CySec, ASIC, FCA, CNMV, etc. The broker got many Complaints and negative Skyo Microfinance Bank Limited reviews and other possible scam features can also be the reason. Your funds may not be safe if you are trading with this broker.
Website – NA
Address – NA
Warned By – Dubai Financial Services Authority (UAE)
Despite Skyo Microfinance Bank Limited attempts to look legit and trustworthy, we can’t disregard the alerts that Skyo Microfinance Bank Limited giving us. There are many brokers like it, and we can quickly recognize the kind of specialist we were dealing with by stepping into the site. We also reviewed comparative-looking broker sites in our scam brokers 2022 list, the vast majority of them are unlicensed and obscure. Find more about the scam broker in our review list.
The Dubai Financial Services Authority (DFSA) has issued a warning against Skyo Microfinance Bank Limited which offers easy loan approvals in return for a fee. Skyo Microfinance Bank Limited shows a certificate of incorporation issued by the DFSA. But DFSA clarified that they does not issue a certificate of the corporation to Skyo Microfinance Bank Limited. They warned people to avoid Skyo Microfinance Bank Limited or any individual or company claiming to represent the firm. According to the DFSA, they regularly warned people about scams through their websites. Read a complete Skyo Microfinance Bank Limited Review to know more about this broker.
Possible scam activities of scam Skyo Microfinance Bank Limited
Here are some of the very possible reasons why we have flagged this broker as a scam broker in this Skyo Microfinance Bank Limited review.
- The rules and regulations, Bonus and Withdrawal policies are not legitimate and they are made for defrauding traders.
- The broker makes continuous calls to the traders and urges them to invest higher and higher amounts.
- The broker may have made a number of false claims through its website.
- The broker promises returns that are too good to be true.
- The risk warnings may not be disclosed on their webpage or would be hidden.
- The broker remains operational for some time and suddenly you are not able to contact the broker or the website seems down. The broker also changes the name and website URL without any notice to existing traders.
- The broker may be located in the countries or small islands where there is no proper regulation and registering a company is very easy. Usually, these countries are havens for scam brokers.
- This broker provides you good chances of making profits and when you decide to withdraw your money, they will state their illegitimate rules of withdrawals, and ultimately you are not able to make a withdrawal.
Negative Skyo Microfinance Bank Limited Reviews and Complaints
Skyo Microfinance Bank Limited has got many negative reviews and traders who traded with this broker have raised many complaints against it. ReportScam has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed this broker in the list of scam brokers 2022.
Example of Negative Skyo Microfinance Bank Limited Review
After Searching internet you will find many negative Skyo Microfinance Bank Limited Reviews. Users have frustrations and feel cheated after trading with this broker. ReportScam does not recommend traders to trade with this broker and your funds may not be safe with this broker and Skyo Microfinance Bank Limited reviews are negative. Instead we recommend looking for regulated and reputed brokers who can really help in growing your investments.
How to get your lost money back from Skyo Microfinance Bank Limited?
The best solution recommended for getting your lost money back from Skyo Microfinance Bank Limited is Report Scam Community.
They are a committed team of Recovery specialists who have already helped hundreds of scam victims in recovering their lost money. Report Scam provides free Consultation and anyone can register by filling a very short complaint form.
Skyo Microfinance Bank Limited Review: Conclusion
To begin with, Skyo Microfinance Bank Limited is a mysterious site that needs validity. It isn’t authorized to offer trading services as it does not hold any valid license and is targeting clients of different nations. So, we advise you to stay away from a such brokers as your money may be at high risk with them.
Also, to prevent yourself from scams like – Forex scams, Binary scams, Romance/Dating scams, Cryptocurrency scams, or any other scams, you should pick a broker or company regulated by some major regulators like FCA, FINMA, SEC, FMA, ASIC, etc. Check the reviews of brokers and also read the policies and terms and conditions. These small details will prevent you to become a victim of broker scams.
Get more Information about Scam Brokers VisitScam Brokers 2022 Page to avoid Cryptocurrency trading scams, Forex trading scams, or other online scams.
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