RESOLVED - SkyFX by Trademarker (Cyprus) Ltd - is a scam

WilsonW

Corporal
Messages
92
I suspect them preying on gullible investors like myself.

Illicit soliciting of business


Does not practise prudent money management while giving gullible novice investors into position with beyond safety margin. So once

many methods of coaxing clients for more capital oblivious to the clients' financial - they asked clients to call up credit card issuers to increase credit limit, borrow from relatives. And they encourage instaneous injection of fund claiming the use of credit card to be fastest
1. coax investors of very promising trades with a sizeable return and get the client to pump in an increasing amount so as to obtain even better return

2. engage the clients' accounts nearing the 100% margin despite their own words saying they try to keep clients' accounts at safe limit around 250-300% level. So once the margin percentage falls below 100%, the risk department will call up the client and ask them to top up thier accounts to safe level

3. the 'account manager' will also call clients ask for top up to get more trades to save their accounts from current deficiit conditions

files pertaining to event progress of the last few days:
https://www.dropbox.com/s/hmvsjop3juo8s2v/05jun2015margin_low_level_with_many_hanging_trades.png?dl=0
https://www.dropbox.com/s/lrddetewxa4wx0e/08jun2015account_status.jpg?dl=0
https://www.dropbox.com/s/ty2c9fnfs6789ch/164109jun2015account_status.jpg?dl=0
https://www.dropbox.com/s/qoomrgnza8xl068/09jun2015Statement.htm?dl=0
https://www.dropbox.com/s/hwteatzy208yhq8/10jun2015margin_low_level_with_many_hanging_trades.png?dl=0
https://www.dropbox.com/s/d4la4n1o641it3i/10jun2015Statement.htm?dl=0
https://www.dropbox.com/s/rw1hi5e3pirwcg1/1703wed10jun2015.png?dl=0
https://www.dropbox.com/s/hf0euhagaxyzk3m/0914thu11jun2015account_status.jpg?dl=0
https://www.dropbox.com/s/5d2qlvh1lbmebdz/0915thu11jun2015statement.htm?dl=0
=======================
skyfx.com operates in such a way that they have 'account managers' to advise clients - giving clients a brief analysis of the symbol they learned from the analyst that will be profitable. Then the 'account manager' will paint the client a picture of how much the client will make to engage in that trade at the lot size they describe. Which more often than not is the max size that drives the account near 100% margin level.

The names involved are:
1. Angie Rose - initial soliciting
Angie Rose <angierose@skyffx.com>

2. John Klein - acting as Angie Rose's supervisor

John Klein <johnskyfx@gmail.com>

3. Mihail Thorov - initial account manager who drove my account with huge negative on EURUSD alone

Mihail Thorov <m.thorov78@gmail.com>

4. David Owen- subsequent account manager after I expressed dissatisfaction with Mihail

5. Martin - appeared to be the manager of the account managers who upon my complaint to him, referred me to David

6. Freddy Malkovich - appeared to be the analyst - used the same trick to pump me for another $8000 so as to trade a full contract on DAX so to save my account from current state. After I refused, he sounded like threaten me that I will regret this.
Freddy Malkovich <m.freddy323@gmail.com>
=============================
10jun2015
1215
received call from risk management to top up again
after my refusal and to call CySec for advice
the staff told me to wait for a reply call (before 3pm Malaysia time) from CEO Richard before making any call to CySec

1345
received call from David Owen to top up

1545
risk management - say to pick up free margin $5000

johnel- bc <johnelllbc@gmail.com>
delta zero lock down
called from +442037692912
and later called from +60327884835
================================
================================
my summary about how skyfx rips their clients

1. account manager pumped client for initial fund promising trades of very good return

2. after client funded account, account manager will advise on trade and volume size to get more than neccessary amount and leave little to counter for market fluctuation

3. once margin percent fell below 100%, staff from risk management department called client to "save the client's account" to a safe margin percent

and the cycle repeats
===========================
My Charges against SkyFX

I did not act on my own every trade was entered upon the account manager's advice. Lot size seemed excessive to me from my forex courses learning but I didn't question them for I trust they should know what they were doing and they claimed to be professionals (at least a few of them mentioned that, John James from the risk management department was one). I suspected by keeping my silence, the more they dare to engage my trade into unreasonable positions and size, without specifying the risk nor the market correction possibility nor time frame, nor set any stop loss. After refusal of funding citing as my account is in bad shape, the account manager would claim how could I state that afterall there had been profits made! I will retort that the amount net balance has nearly been staying negative almost from the start and worsened off every day.
My conclusion is that they misled suspected clients into treacherous trades. Their staff from risk management also played the same plot when margin percent falls below 100%, to talk the client into topping up capital above initially 250%, subsequently 200%, and eventually even 100% and promised increasingly enticing bonuses on their part, citing reasons
1. To protect the client's account, and all the existing trades were all very promising
2. Can commit additional trades to save the client's account
3. John James was the 4th staff from risk management to call and said to use delta lockdown to save the client's account
4. John James also reminded me not to make emotional decision by refusing more capital into my ailing account. I replied my decision had been logical after listening to their same tactics over and over again (more than 3 times)
By trusting them initially I found them used the same steps in getting me to inject more capital and their favorite is getting client to use credit card. Even I had reached my credit card limit, the account manager (both Mihail Thorov and subsequently David Owen used same techniques) asked me to
1. Call up my credit card provider to increase the limit
2. Call friends for help
3. Reveal other sources and claimed they did not believe I have no other finances
On the above ground I concluded that SkyFX has wilful intent to ruin the financial of their clients.
The very first thing SkyFX claimed was they are a regulated company. And from there I can only tell was unscrupulous all the to the oblivion of client's account with my account as a solid proof.




http://www.cysec.gov.cy/en-GB/entities/investment-firms/cypriot/37584/

============text to cysec=============
I want to complain about skyfx.com whose registration with you is 151/11 has be illicit soliciting business to rope in gullible investors, with their 'account managers' giving advices on investment into different instructions including forex, foreign indices and commodity futures, literally dictating the size of trade without exercising prudent money management suspected with agenda to con more of clients' fund at very short notice when margin called.

Even though skyfx.com claimed to be cysec registered yet their calls were all from UK.


Right now my account upon their advices/recommendation has run into very negative situation, and their keep urging me to pump in more fund with my credit cards

========================
 

WilsonW

Corporal
Messages
92
Since I could not comment on review page, here I am posting that some other investors/traders also encountered the same trick/tactic


Yes, I fell prey to this tactic! The skyfx.com did it to me 3 rounds or more, with each round I see the condition of my account worse off and I got more reluctant until I eventually refused to comply

Sky Fx | Forex Brokers Reviews | Forex Peace Army
Rush, Derby, United Kingdom
Rating:
Date of Post: 2015-06-10
Review: After depositing $400 they said that they could work better with me if I bring my account to $1000. Did that and got a bonus of $1000. Made profit on trades but kept asking to deposit more money even though the account had over $3000. I refused to deposit more funds, the accounts manager got rude and suggested that I close any open positions and withdraw my money. At this moment in time this has led them to refusal of withdrawing funds from my account.
 

Pharaoh

Colonel
Messages
19,831
Please double-check Angie's address. It looks like she spelled SkyFx wrong.

What do you mean "count not comment on the review page". All reviews are moderated. Unless you got an error, your review is probably sitting in the queue awaiting approval.
 

WilsonW

Corporal
Messages
92
Correction of email address

Please double-check Angie's address. It looks like she spelled SkyFx wrong.

What do you mean "count not comment on the review page". All reviews are moderated. Unless you got an error, your review is probably sitting in the queue awaiting approval.

Yep, there's a typo. The right one is
Angie Rose <angierose@skyfx.com>

Thanks Pharaoh.
 

WilsonW

Corporal
Messages
92
Also pay notice to that how most they tried dodge responsiblity not using email address from skyfx domain but chose to use personal email (@gmail), including John James who was supposed to be from an internal department - risk management department
 

WilsonW

Corporal
Messages
92
Correction of email address

Yep, there's a typo. The right one is
Angie Rose <angierose@skyfx.com>

Thanks Pharaoh.
Pharaoh,

Yes, indeed you were right. I double-checked Angie Rose email address is
Angie Rose <angierose@skyffx.com>

So they are a bunch of saboteurs against skyfx of which the latest to call me to drop complaint from CySec was Richard who claimed himself the CEO and VP of the company (and skyfx was mentioned and implicitly referred to in the teleconversation). I asked him to drop me email, but nearly a day has passed with no email in sight.
 

Pharaoh

Colonel
Messages
19,831
Real employees would have SkyFx.com addresses. Anyone using a gmail address probably doesn't really work for SkyFx.

Check Angie's address VERY carefully.

It sounds to me like what you may have is a case of a bad set of IBs leading you in and churning your account. Make sure to give all the details as far up the food chain at SkyFx as possible, since these people may have one or more people on the inside helping them. If that doesn't produce quick results, having a long chat with SkyFx's regulator could be the next logical step.
 
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