Skilledmarkets.com review: Fraudulent Funded Account?
Skilled Markets is promoting funded Forex accounts where successful students will receive up to $12,000 in account funding.
Skilledmarkets.com is basically using a well-known trick that Forex scammers take advantage of to make money off naive students.
This is why Try2bFunded and other prop trading companies that we have wrote about before are a scam.
As I was doing my research, I found out that Skilledmarkets.com is also associated with a company known as cabanacapitals.in.
This is because they share the same whatsapp number to offer support to their clients.
They appear to be based in India but the most discouraging thing is that even though the website looks professional, the footer contains non-functional links that are just for decoration.
The Facebook page where their sister company can be found is right here.
In addition to this, Skilled Markets is offering a bunch of third-party, well-known Forex expert advisors for “free”.
To use these EAs, you must pair them up with a VPS service which will set you back $100 every 6 months.
Skilled Markets claims that students can use whatever strategy they like, and Forex EAs are also supported.
However, this so-called Funded Forex account service is just an online job scam.
If you want to become successful in your trading, I urge you to follow these trading product recommendations because other than these services, I am yet to come across an EA or a signal service that really works. I do not trust any of those shiny trading products and services on the web. So stick to my recommendation.
Skilled Markets Review: An online job scam that promises free money for trading
Upon investigating Skilledmarkets.com and their supposed offer, I found that students were subjected to a 3 step evaluation process.
This evaluation process is not free because students are actually required to pay $580 upfront. If they pass the first stage, they will be required to pay $480. If they somehow succeed, the next fee that is required of them to pay is $300.
Of course one cannot expect to participate without some following some sort of guidelines.
Skilledmarkets.com requires that students adhere to a set of strict rules that dictate profit target, drawdown, stop loss and duration of trading.
Now, the reason this is a scam is because students (beginners in trading) are required to pay money upfront to take tests which they will definitely fail at.
The company disguises their agenda by referring to the tests as “training”.
The entire website’s theme is “free money for trading” but in reality, this is not free money. You must pay a fee upfront.
Secondly, even if you are good at trading, this company will never give you money to use for your trading.
Who owns SkilledMarkets.com?
The website has refused to disclose who owns or runs Skilled Markets. In addition to this, they have refused to disclose their actual location yet we already know that they are from India.
Also, does it make sense to provide free $12,000 to random traders when you are anonymous?
Where does the funding come from? I’m sure this company cannot answer any of these questions.
In addition to this, Skilled Markets has refused to disclose which Forex brokers are involved in this business.
If they would like to be taken seriously, they should at least include this information for the sake of transparency.
The Conclusion
There’s no difference between Skilledmarkets.com and scams like Trade View Investments and even SpeedUp Trader.
Every other website that proclaims to provide “free funding” is a scam. I know the temptation is there but please keep off those websites that ask for money upfront.
They sometimes pretend that they are on a recruitment drive to hunt for experienced traders. Others will pretend that they are offering a job to traders of any kind of experience.
At the end of the day, it is never a good idea to pay them money in order to receive “free funding”.
Skilledmarkets.com is therefore a scam.