SkillsTech Review: Chance to Join the Ranks of Half a Million Clients or SCAM?

SkillsTech - logo
Rating:
1.7

SkillsTech invites you to join the ranks of half a million clients on its platform and access hundreds of trading pairs. However, we have our doubts about this claim. Half a million clients is an exceptionally large number, and we question whether this broker truly has such a vast clientele. In this review, we’ll explore whether it is indeed a promising platform or just another ambitious scam entity in the world of trading.

SkillsTech General Information

Website https://www.skillstech.pro/, https://www.skillstech.tech/
Phone Number +421233300424
Email support@skillstech.tech
Address The Willis Building, 51 Lime St, London, UK
License
Minimum Deposit $250
Assets CFDs
Leverage Up to 1:200
Trading Platform WebTrader

Registration and Client Portal Review

SkillsTech has opted for a rather typical official website. The homepage is filled with templates, showcasing images of successful traders and describing the broker’s advantages. However, let’s be frank, all of this is uninteresting and doesn’t provide much value to readers. It seems like content for the sake of content. What is notably missing, and what is genuinely crucial, is the legal information about the company, which is conspicuously hard to find on this website.

SkillsTech - website

The registration process is fairly straightforward. You start by filling out a relatively uncomplicated form, which includes the usual personal details like your name, email address, and phone number. Once you’ve completed this form, you’re immediately directed to the client portal. What’s somewhat surprising is that there’s no requirement for email or phone verification, meaning that access to the portal is almost instantaneous.

Register

However, as you venture into the client portal, you might start to notice that it feels rather ordinary. It seems to offer the typical set of features and functionalities that you’d find on most trading platforms, but without any remarkable innovations or particularly user-friendly tools. The layout is straightforward, and while it’s not overly complex, it also doesn’t stand out as exceptionally intuitive or comprehensive.

SkillsTech - Client Portal

SkillsTech Trading Conditions

Well, then, let’s delve into the trading conditions that this broker has in store for us. Perhaps we’ll discover something intriguing.

Account Types Review

The company offers five typical trading account types. The number of available services with this broker increases as your deposit grows. For instance, with a Silver account, you get just one private training session, whereas the VIP Club includes 12. Additionally, VIP support, trading signals, and a private account manager are included in the package. Overall, it seems that this broker is primarily interested in making money from traders because the more you deposit, the more they provide. However, we find all these additional options rather questionable. Moreover, SkillsTech doesn’t disclose any information about spreads and commissions.

Trading Platform

Let’s take a closer look at the broker’s trading terminal, and we must say, it’s far from impressive. The firm offers a web-based trading platform that leaves much to be desired. First and foremost, it lacks the essential indicators and tools that serious traders rely on for technical analysis. The charting capabilities are basic at best, with a limited number of technical indicators available for analysis.

Moreover, the trading functions are disappointingly minimal. The platform lacks the advanced order types and risk management features that are standard in many other brokerage platforms.

SkillsTech — Deposit and Withdrawal of Funds

It offers several methods for funding and withdrawing funds from your trading account. Traders can use credit or debit cards, bank transfers, and even electronic wallets. However, it’s important to note that electronic wallets are not specified in the user account, which could be a limitation for those who prefer this payment method.

Additionally, the broker does not provide clear information about the processing times for withdrawals.

Verification

Regarding the verification process at SkillsTech, there is a lack of clear information available. The user portal does provide an option for uploading documents that include:

  • Proof of Identity. This usually requires a government-issued photo ID, such as a passport, driver’s license, or national ID card. The document must be valid and show a clear picture of the trader’s face.
  • Proof of Address. This document should confirm the trader’s residential address and may include utility bills (electricity, water, or gas bills), bank statements, or official government correspondence with the trader’s name and address.

However, SkillsTech states that they will charge a commission of 10% to those traders who have not completed the KYC (Know Your Customer) verification process. Then, is it possible to trade without undergoing this verification?

Additional Options

On the official website, there is a mention of market analysis. However, its value is quite questionable, even for novice traders, not to mention experienced investors.

The provided market analysis appears to be limited in depth and sophistication. It lacks the comprehensive research, insights, and tools that experienced traders typically require to make informed decisions. For beginners, such analysis might offer some basic insights, but it’s essential to remember that successful trading often involves more thorough research and a deeper understanding of market dynamics.

Is SkillsTech a Scam?

Now, let’s address the critical question: is this broker a scam, or can you trust it with your money? Let’s take a closer look.

When we attempted to locate information regarding the official registration, we encountered a significant information gap. The company’s documentation did not provide any details about its place of registration.

Additionally, the broker claims to have offices in the United Kingdom, Slovakia, and the Czech Republic. However, when we cross-referenced this information with the respective business registries of these countries, we found no records of SkillsTech’s presence. It appears that this company does not have a formal existence in these regions, which raises doubts about its legitimacy.

Furthermore, the absence of official registration and the lack of licensing information suggest that this project operates without proper regulatory oversight.

Skillstech.tech Domain Info

Another concerning aspect that adds to the suspicion surrounding the broker is its relatively short period of operation. An examination of the broker’s domain registration reveals that it was only created in May 2023. Furthermore, online reviews and feedback about this project have only started to surface recently.

In essence, the company has been in operation for just a few months. This brief history raises questions about the broker’s stability, reliability, and ability to provide a safe and consistent trading environment for its clients.

Domain info

This article has been updated. The broker successfully continues its dark work on the new domain skillstech.tech, created on March 6, 2024. Welcome!

Contacts Review

Regarding contact information, phone numbers, emails, and even office addresses are provided. However, as we have previously determined, it’s advisable not to visit these offices. The likelihood of finding anything of relevance there is slim, and it’s doubtful that these are the actual offices of the broker.

Pros and Cons

  • Variety of account types.
  • Lack of regulation.
  • Minimal market analysis.
  • Suspicious office locations.
  • Short operating history.
  • Lack of demo trading.
  • Unclear fees and charges.
2.7 TOTAL SCORE

SkillsTech Summary

SkillsTech - favi

The project raises significant red flags and appears to be a dubious broker. Our investigation has uncovered numerous concerns, including a lack of regulation, questionable office locations, a short operating history, and a lack of transparency regarding fees and charges. Additionally, the absence of a demo trading option and unsubstantiated claims about its client base and trading pairs further erode confidence in this company.


Website information content 3
Client Portal 3
Trading conditions 3
Trading platform 3
Deposit and withdrawal 4
Verification 3
Extra options 3
Licenses and guarantees 1
Work duration 1
Feedback 3

Frequently Asked Questions (FAQ)

What Does SkillsTech Offer?

It claims to offer access to hundreds of trading pairs and market analysis. However, our investigation has raised concerns about the legitimacy of these offerings, and traders should exercise caution.

How Much Money Should I Invest With SkillsTech?

The broker specifies a minimum deposit of $250 according to their trading conditions.

Is SkillsTech Safe?

No, it cannot be considered safe. Our findings suggest that this broker is questionable at best and may even be involved in fraudulent activities.

Subhash Mishra
Forex & CFD Trader

Subhash is a Bengali who has been trading for 16 years. You will find the most objective reviews of Forex and CFD brokers in his articles.

Subhash is a Bengali who has been trading for 16 years. You will find the most objective reviews of Forex and CFD brokers in his articles.

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Client Reviews

  1. Kim D.

    Pseudo-broker

    Let this pseudo-broker at least obtain a license, perhaps from the FCA, in the jurisdiction where this scam allegedly operates, although it’s already obvious and clear that the address in the UK is fake and randomly selected.
    SkillsTech is part of a group of scammers creating identical broker companies, whose task is quite simple – to swindle people out of their money, doing it as often as possible and with as much as possible.
    Unfortunately, if you’ve already invested in this broker nonsense, it will be impossible to get your money back. Such scammers typically don’t even respond and immediately steal the money. Some don’t even reach the balance in the client portal.

    Reply
  2. ProTrader

    Proceed with caution.

    As an experienced trader, I advise against depositing large sums of money with SkillsTech right away. Start with the minimum funds to avoid excessive risk because I see no special guarantees with this company. The UK office does not provide 100% security, especially since I haven’t seen any licenses on their website, to be honest. So, if you’re interested in the terms and services offered, it’s better to test the company and its service with a minimum amount. Then, as you verify that the company operates honestly and transparently, not engaging in scam activities, you can increase your deposit. But again, be cautious. There might be problems as soon as you deposit a substantial amount.

    Reply
    1. Mary

      Mary

      SCAM !!!!
      Neexistuje žiadna firma ktorá bude za vás obchodovať a mať pre vás zisk. Vyhľadávajú si starších ľudí . Ja som chcela z nudy vyskúšať niečo nové a naučiť sa hlavne . PODVOD !!!!!!

      Reply
  3. Chris

    Just another fake.

    This is a fake platform, so there’s no point in dealing with SkillsTech. The online reviews are all recent, and there aren’t many of them. This is likely because a search for the same name in a search engine brings up completely unrelated companies with no connection to financial markets trading. Speaking of trading, it’s also fake here because there has never been a real market. It’s the most typical simulation where you, as a supposed trader, engage in blatant betting – whether the price will go up or down. There are no licenses, no withdrawals to a real exchange or any liquidity provider, no insurance, no offices, and no international presence. There are absolutely no guarantees here. There’s nothing more to say, really. The company is bogus, and there can be no talk of a deposit.

    Reply
  4. TOTÁLNY PODVOD

    TOTÁLNY PODVOD !!! Nikdy viac

    Totálny podvod!!! žiaľ ďalšia čo naletela dobre vedieť kým si človek normálne nezarobí nemá . Sú bez chrbtovej kosti rozšírený po celej Európe . Prišlo k nám dobre svinstvo.

    Reply
  5. Aneta

    Pekna sprava

    investovala som s tym ze som od toho neocakavala vela , nakoniec som sa sama prekvapila ked som si otvorila ucet a uvidela prve zarobky a som prekvapena ze to naozaj fungovalo po nejakom case som mohla dcerke dopriat sukromnu skolu v zahranici a dopriat jej to najlepsie vzdelanie

    Reply