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SkillsTech Review | A Regulated Broker or Scam?

by Kevin Berry
Rating: 
  1.8/5   Reviews: 6
SkillsTech - logo

“Become one of half a million traders and have access 24/7 to hundreds of currency pairs” – this is an offer from the brokerage firm SkillsTech, which has offices in the UK, Czech Republic, and Slovakia. The company claims that it is regulated; however, it hasn’t provided any regulator names, let alone the numbers of the licenses obtained. How did 500,000 people decide to entrust their money to a little-known broker without a license? There are not many reviews on the Internet, so we have doubts about the stated number of clients. We also suspect that it is a classic scam rather than a secure platform. We will look into this in more detail.

Highlights

🏛️ Country United Kingdom, Czechia, Slovakia
⚠️ Regulation
🖥️ Website https://www.skillstech.pro/
🎲 Demo Account Yes
⏳ Start Time 2023
💲 Minimum Deposit $250
⚖️ Minimum and Maximum Leverage 1:200
⚙️ Trading Platform WebTrader
📨 E-mail support@skillstech.pro
📞 Phone +421233300424, +421233215980

First Impression of Skillstech.pro

We are looking at a classic template official website. We have encountered such resources multiple times, and all of them belonged to fraudulent organizations. It is doubtful that SkillsTech will be an exception.

SkillsTech - site

At the top, there are standard sections describing the trading platform, asset classes, types of accounts, company activities, and contacts, as well as legal documents such as user agreements, and the AML&KYC policy. The main page lists pseudo-advantages and available features. The website’s graphical design consists of cityscapes, and images of people sitting in front of monitors and tablets, wearing shirts or suits. In general, SkillsTech’s official website is typical, templated, and lacks comprehensive information.

Partnership and Bonuses

The company offers clients an additional income from attracting referrals. The affiliate program allows you to earn up to $200 per partner. Moreover, if a trader registers through the referral program, they will receive an additional $100 in bonuses. Besides, SkillsTech offers new users a welcome bonus of 100% of the first deposit amount. It’s important to remember that bonuses are provided on specific terms, which, by the way, are not even described on the company’s official website. These conditions often limit the ability to withdraw money and also require a certain trading volume.

Account Opening on Skillstech.pro

Creating an account in SkillTech starts with selecting the type of account – real or demo. If you choose the demo, you can upgrade it to a real one in the personal cabinet, but in essence, it’s creating a new account.

Registration

The registration process is simple. You need to provide personal information, choose the currency of the account (USD, EUR, or BTC), and agree to the terms. Moreover, there’s no need to confirm the provided email and phone number. After that, the SkillTech personal cabinet opens, allowing you to perform various operations:

  • Editing personal information.
  • Uploading documents for KYC.
  • Depositing and withdrawing money.
  • Viewing order and transaction history.
  • Downloading the platform on PC and accessing webtrader.

SkillsTech - dashboard

However, that’s not all. Next, a representative of SkillsTech should contact the client to study the trader’s experience, goals, and financial objectives, in order to provide a further trading plan.

Verification

Identity verification in SkillsTech is a mandatory process because the company follows the AML&KYC policy. Documents are uploaded in the personal cabinet. The procedure is not described in detail.

Pros
  • None.
Cons
  • The KYC procedure is not described in any way on the website.

Trading Software

The SkillsTech trading platform is available in all versions: desktop, webtrader, and mobile trader. However, we did not find links to download the app for Android/iOS, so the terminal on smartphones works similarly to the webtrader, i.e., it is accessible through any mobile browser. We didn’t risk downloading the software on our PC as there’s a risk of getting a virus. We do not recommend downloading any files from unofficial sites.

Terminal

So, the terminal supports the following features: technical and graphical analysis, indicators, multiple timeframes, main types of charts, market and pending orders, including stop-losses and take-profits, several languages other than English, and three themes (dark, blue, and light). Such functionality can’t be called comprehensive. Perhaps beginners will find these tools sufficient, but experienced and successful traders certainly won’t. Many advanced options are missing: auto-trading, copy-trading, uploading custom indicators, and more. The SkillsTech platform is severely limited in capabilities and functionality.

Features SkillsTech The Uptrend Center London Bridge Cap
Demo Account ✔️
Mobile App
Own Development

How Can I Trade With SkillsTech?

The firm allows trading in several asset classes: forex, metals, indices, commodities, stocks, and cryptocurrencies. Traders can use a leverage of 1:200 to increase volumes. The other conditions at SkillsTech depend on which account type the user chooses.

All Info About Accounts

The broker offers four tariff plans: Silver (minimum deposit of $250), Gold (from $2,500), Platinum (from $10,000), and VIP club (from $25,000). The minimum deposit requirements are high, especially when there are many brokerage firms offering access to platforms with just $10 in one’s pocket. Beginners receive from SkillsTech daily market analytics and recommendations, 24-hours support, videos, exclusive market updates, and one private training session. “Gold” account holders have access to VIP support and trading signals. The “Platinum” tariff, in addition to the aforementioned benefits, offers a mysterious service named “TRXs Hedge”. Those who can afford $25,000 receive assistance from a personal account manager.

Account types

The quality of market analysis and recommendations is unclear, as no examples of such services are provided. Moreover, SkillsTech does not specify the sizes of commissions and spreads, which, by the way, are the most important parameters. The minimum deposit is high, as we’ve already noted. You can’t try the service with an amount less than $250 since there is no cent-based tariff or its equivalent. An Islamic account type isn’t mentioned. Well, the terms are clearly unfavorable and uncompetitive.

Pros
  • None.
Cons
  • High minimum deposit.
  • Important terms and conditions are not disclosed.
  • Islamic account not offered.

Market Analysis and Education With Skillstech.pro

The broker provides clients with free educational resources and 24/7 technical support. Also available are online quotes sourced from the Tradingview service, a glossary, an economic calendar, a market holiday calendar, and basic information about assets.

Deposit, Withdrawal, and Fees

Deposits and withdrawals in SkillsTech are available via bank transfer, e-wallets (Neteller, Qiwi, Skrill, Sofort, and PayPal), Visa/Mastercard, and digital currency. If you withdraw funds via a bank, a fee of $50 is charged; for credit/debit cards, it’s $35, and for other methods, it’s $25. The minimum withdrawal amount is $100, but for bank transfers, it’s $250. Additionally, the company charges a 10% fee if there hasn’t been a turnover of 200 times the withdrawal amount on the account, or if the KYC procedure is missing.

Features SkillsTech Exallt  Rich Premium Rx
Debit/Credit Cards ✔️ ✔️
Electronic Payments ✔️
Crypto Transfers ✔️ ✔️
Deposit Fee
Withdrawal Fee ✔️

How Can I Contact It?

The firm provided two phone numbers from Slovakia and an email address for contact with managers. There’s also a special form available to create a feedback request, but social media accounts, as well as an online chat for prompt communication, are missing. By the way, a check of SkillsTech’s contacts revealed nothing.

Pros
  • None.
Cons
  • No social media accounts.
  • No online chat for prompt communication.

Is SkillsTech Dangerous?

Although the firm provided real contacts and offered a demo account, there are still slight suspicions that we are facing a fraudulent project. Why? At the very least, the template website gives the company away. We need to study the duration of operation and determine the regulatory status of SkillsTech. Only then can a verdict be made.

How Long Does The Broker Work?

Like any scam broker, SkillsTech doesn’t share information about when it was founded. Since there are few reviews online, it can be assumed that the platform appeared very recently. The domain, or more precisely, its registration date, will give us an approximate launch period. The website was created on May 29, 2023. That’s essentially when the company began its operations.

Domain

How Is SkillsTech Regulated?

Licenses are an important attribute of every forex broker. The subject of our review claims to have offices in the UK, Czech Republic, and Slovakia. Well, let’s verify whether this is true or not. We’ll start with the Companies House registry and the FCA regulator, i.e., we’ll check the company’s status in the UK. In the Companies House registry, firms with similar names were found, but our broker was not detected. The FCA is also not aware of the organization’s existence. It means that the provided address in the UK is fake. Such a company doesn’t exist there.

SkillsTech - FCA

In the Slovak registry (Obchodný register Slovenskej Republiky), no organizations named SkillsTech were found. If there’s no legal entity, it’s unlikely there’s a license. However, we checked the registry of the National Bank of Slovakia, and among the 24 organizations, our broker was not found.

Slovakia fake

Perhaps the company is registered in the Czech Republic? After all, an office address is also mentioned in this country, in the city of Prague. However, SkillsTech is absent in the Czech registry as well. Thus, it turns out that all the provided addresses are fake, and the broker doesn’t possess any licenses.

Czech fake

Features SkillsTech Signet Capital FIMEC Limited
European Zone
Asian Zone
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

How to Trade With SkillsTech?

On the official website, you need to go to the account registration section. Then, fill in all the details. Afterward, the firm asks to upload documents for KYC and also to undergo a consultation with a manager over the phone. After this, the deposit replenishment function will be available. By the way, the broker offers a trial on a demo account.

Is SkillsTech Legit?

The firm is not regulated in any way. Not only are there no licenses, but the provided addresses turned out to be fake.

How Risky Is It?

Collaboration with SkillsTech will lead traders to losses. The company operates illegally and has also been caught providing false information. The risk of losing money is 100%.
Kevin Berry
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Expert Opinion

It’s amusing to see how scammers list fake addresses for their non-existent offices. Don’t these swindlers understand that this information is the easiest to check? SkillsTech created a generic website, which almost half of all fraudulent brokers encounter, and made-up benefits, claimed to have hundreds of thousands of traders, and thinks it will work. Nonsense. Dear traders and investors, do not collaborate with such fraud organizations. It’s a complete scam for money. You will find nothing but losses and deceit here. Do not trust the words of con artists and criminals.

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SkillsTech rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

6 reviews about SkillsTech

Duan Huan September 13, 2023 - 00:38
I agree, they're scammers
The level of trust
Quick withdrawal of funds

I completely agree, it is a scambroker that deceives people and steals their money! You can’t trust them! They made up absolutely everything they could! Another fake scam project.

Reply
Sergio Allison September 21, 2023 - 21:09
I lost money. $1,000 went to ‌scammers
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I shouldn’t have trusted this company. At first, everything was fine, trading was going on, and there was even a little profit. However, when I decided to withdraw some of the earned money, I faced problems. The issue was the long withdrawal process. The scambrokers wouldn’t give me my money, literally.

At first, I thought it was just a technical error, or that there were too many withdrawal requests. However, one week passed, then two, then three, and still no money. I started sending emails, calling the phone number, but to no avail. SkillsTech did not respond to my attempts to contact them.
That’s how I lost all my money. I invested $1000, and I lost every single cent in this fraud firm. Don’t trust scammers, they have a fake platform and a fake organization.

Reply
Robby September 30, 2023 - 11:48
Careful! It's a scam
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Beware! SkillsTech is already a known fraud among fake brokers. They are anonymous scammers working on a well-established fraud scheme. They create a website, post all sorts of nonsense on it, like numerous offices in various countries, invent pseudo-benefits and fake advantages, and then start scamming trusting people out of their money. Of course, SkillsTech has no offices, never had, and never will. There are no guarantees, and licenses are also absent. Now, do you understand why there are no legal documents and why the names of founders and directors are missing? Which scammers would reveal their names and faces? Right, none. So, I don’t advise you even to try a demo account here. It makes no sense, because you can’t invest real money here, as it will be stolen for sure.
I’ve warned you. This scambroker will steal your entire deposit. And there’s nothing you can do, as retrieving the money is impossible. They are anonymous criminals who cannot be caught.

Reply
Žužu October 20, 2023 - 05:23
PODVOD !!!
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Čistý podvod ako som poslala peniaze hned som si uvedomila že je to podvod. Takéto krásne svinstvo prišlo na Slovensko krása už má nič neprekvapuje len ako jeden druhého oklamať toto speje k totálnej katastrofe. SkillsTech úžasné hajzli . Peniaze som šetrila ako sprostá a teraz môžem zasa . NIKDY VIAC !!!

Reply
Mary November 3, 2023 - 16:40
SCAM !!!!PODVOD !!!

ZLODEJI !!!!Keď som na nich prišla a okradli ma povedala som že je to podvod povedali mi že som nemala byť taká sprostá 👍. Robia tam mladý hajzli bez chrbtovej kosti počula som nejaké rozhovory keď klamali ľudí boli veľmi milý . Keď som povedala že sú klamári a zlodeji tak mi povedal veľký finančný poradca že som nemala byť taká sprostá .Neexistuje žiadna firma na svete ktorá robí obchody pre vás to mám od profika žiaľ až po tejto skúsenosti . Nevyplatia ak tak len malú časť na oko.

Reply
Kristína November 13, 2023 - 13:02
Všetko funguje
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Začala som spolupracovať so spoločnosťou skillstech pred 2 mesiacmi a neviem si to vynachváliť. Všetci mi ochotne pomohli keď som niečo potrebovala. Všetko funguje tak ako má, už som zarobila niečo cez 2000 eur, z čoho sa veľmi teším. Odporúčam túto spoločnosť všetkými desiatimi.

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