Skills Profit Review – Scam Skillfully Snatching Your Deposits And Profit

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The first glance at the Skills Profit official website instigates doubt. While the broker supposedly has a UK residence, we tend to believe otherwise. Especially after checking the company’s regulatory status and coming to a conclusion that this firm is an illicit entity. 

This fully unlicensed firm doesn’t provide a single proof of their credibility or genuineness. Concrete trading conditions are wrapped in a veil of secrets. Based on what we could read directly from the platform suggested Skills Profit to be breaching all known trading regulations. 

The rest of the information on the website is related to more self-glorifying and miserably failed attempts of gaining trust from the potential customers. Skills Profit uses the main weapon of heaps of scammers – promises of fake profit. 

Such brokers can only present lies and fabrications in order to convince victims to invest. How exactly they do it and what their main strategies are is what you will find meticulously explained in our Skills Profit review.

Not only is the brokerage not providing evidence of their license, but they dare to blatantly lie to the client’s face about it. Being registered as a private company in the UK doesn’t give the brokerage the right to offer financial services and products. Although we’ve checked with the gov.uk and determined that Skills Profit is indeed registered in London, they still lack a FCA license. 

Only by obtaining an official financial authorization for brokerage services can Skills Profit operate as a legal brokerage. They clearly do not own it. Checking the register of regulated brokers that FCA keeps has helped us get to the truth. So, it appears that Skills Profit is incorporated in the UK but doesn’t own a proper certificate to operate as a securities dealer. 

What does that mean for the Skills Profit clientele? Well firstly, it indicates that the broker doesn’t store clients’ deposits to segregated bank accounts and can freely access those funds and misuse them. Next in line are the risk-reduction measures, such as leverage restriction to 1:30 and negative balance protection. Skills Profit clearly breaches this standard as well, by offering high leverage of 1:100. 

In case of the broker suddenly going bankrupt, you won’t be able to retrieve your funds because you have no access to the Financial Ombudsman. That’s another negative aspect of trading with unregulated broker dealers. 

In search of any kind of license for Skills Profit, we still checked more databases of leading regulators, such as BaFin, CySEC, ASIC, NFA, CONSOB and CNMV. Skills Profit doesn’t appear anywhere, which is a solid proof of the broker not being authorized to keep running their illegal conduct.

The rising number of complaints and negative reviews is one of the indicators of this broker’s illegal activities towards their clients. Skills Porift’s average score on TrustPilot is slightly lower than 3, and we have an explanation for that. Considering the fact that the highest number of reviews are either negative or top rated, we have reasons to believe the positive ones are fake. Swindlers of sorts often pay to get positive feedback and good opinions posted online to boost their credibility. Here’s one authentic comment that gives you a clear image of how this sham operates:

They are scammers, they don’t pay out any money. They send scam emails like Binance and others asking for money. The numbers cannot be called and no one answered the email address either. I DO NOT RECOMMEND!!!!

Skills Profit is most active in the EU, and in these countries in particular:

The only thing that could remotely denote Skills Profit as a brokerage is that they do, in fact, offer some instruments to trade. There is a selection of different assets over a number of asset categories. Besides a rather large selection of different Crypto coins, only the most popular instruments are available.

We have created a list of categories with some examples below:

Skills Profit doesn’t explicitly state what spreads, swap or other fees you can expect when using their services. It is not uncommon for faux brokers to offer ridiculously low spreads and swap. With Skills Profit, the spread on some instruments is 0.0 Pips.

At first glance, it seems as though nobody can compete with this pricing. Legitimate brokerages earn their income through commission, swap, spread and other fees. Scammers, on the other hand, get their money from petty theft, so they can offer unrealistically low prices for their “service”.

Another thing worth mentioning here is that many scam brokers have hidden fees for withdrawals. There is no Terms & Conditions page on Skills Profit website, so you can never tell what nasty surprise awaits you on payout.

Metatrader5 on the other hand, is the industry standard program for online securities markets. The problem with Skills Profit is that their MT5 software is not the real deal. It is only a demo program which allows for simulated trading. Needless to say, the demo servers it connects to don’t necessarily reflect the actual market data. It doesn’t need to, because in the end it’s just a learning tool.

There are many client testimonials that explicitly complain about the bad payout policy at Skills Profit. Scam companies seemingly offer the world on a silver platter, but as soon as you try to withdraw, they pull the rug from under your feet.

Swindlers at Skills Profit are known to invent any number of reasons to deny you your payout. All the pushy Account Managers seemingly vanish into thin air as soon as you mention a withdrawal. They will block your phone number, and stop answering emails. When worse comes to worst, it becomes nearly impossible to get your money without legal aid.

We won’t tell you not to panic or despair. We have a clear idea of how disastrous scams can be and how deeply they can affect people’s financial future. In order not to allow the fraudster to profit off your loss, you should take appropriate action towards regaining what was stolen from you. To do this effectively, you should contact us as soon as possible. 

Teams of legal experts we employ work tirelessly to help people in need, just like yourself. So reach out to us any day or hour and we will do what is in our power to listen and offer professional advice. 

No, this brokerage brand is newly registered and completely unregulated, yet anonymous and with devious tendencies to try and get rich by extorting money from honest retail traders. If you’ve invested with them already, please just contact us promptly and we will help you efficiently issue a chargeback.

Skills Profit does offer a Mobile App of their own, and the MT5 software this broker features is accessible through mobile devices as well.

Skills Profit does not have a Referral Program for their client base.

No, this brokerage brand is newly registered and completely unregulated, yet anonymous and with devious tendencies to try and get rich by extorting money from honest retail traders. If you’ve invested with them already, please just contact us promptly and we will help you efficiently issue a chargeback.

Skills Profit does offer a Mobile App of their own, and the MT5 software this broker features is accessible through mobile devices as well.

Skills Profit does not have a Referral Program for their client base.

The post Skills Profit Review – Scam Skillfully Snatching Your Deposits And Profit appeared first on Global Fraud Protection.

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