*This broker is closed. Try trading with IQ Option instead.
As a relatively new broker on binary options scene in South Africa, SkyLine Markets is established in 2015 as brand name of the Capital Market Service Limited.
To traders residing in South Africa, Skyline Markets offers a selection of trading tools and services which are on traders’ disposal to use when trading binary options.
Further in this Skyline Markets broker review, South Africans can learn more about trading platform and how to benefit from this binary options broker.
Required minimum deposit is $250 and investment starts from $25. South Africans are able to deposit in following currencies, according to Skyline Markets broker review: USD, GBP and EUR. payouts on investment can reach maximum 88%.
Skyline Markets Trading Platform and Features
SpotOption is the selected software by Skyline Markets management team since it is one of the long-term software providers in binary industry. Our Skyline Markes broker review showed us how platform looks very modern and yet simple to use and navigate over it. This way it becomes efficient to all interested South African traders.
Traders can choose between different trade options, including Long Term, Pairs, One Touch, 60 seconds and CFD. also, a selection of expiry times are available, ranging from 60 seconds to trading up to 3 month long period of time.
With Skyline Markets broker, South African traders are able to invest in following underlying assets: stocks, currencies, commodities and indices. In total, there are over 80 different underlying assets available to trade with. A full list can be find on their platform under Asset Index.
There are couple of popular features and tools we learnt during Skyline Markets broker review. For example, mobile trading is now available due the tech development which enables traders to trade binary options from any place and not to depend exclusively on web-based platform.
Skyline Markets mobile app is connected to both Apple and Android devices. Also, South African traders can access mobile platform on tablets and mobile phones. They can experience simple trading platform and keep a track of current trades.
As another powerful trading service is option to practice trading on demo account. In binary trading, demo is considered as a valuable trading benefit since it is intended both for traders novice and professional binary options traders.
The main benefit is the fact it enables traders a safe trading environment where traders don’t need to worry about potential money loss. That is possible since traders do not use real funds but instead, Skyline Markets funds their trading account with virtual funds.
This enables traders to practice how to trade binary options and try out different tools and strategies so that later on, they could switch to real account trading and begin their binary trading journey. Demo account is mostly used by inexperienced traders since it enables them to gain more trading experience.
Skyline Markets Trading Accounts
The Skyline Markets broker review revealed us how registered traders can choose between 5 account types and each of them offers different trading features as well as minimum deposit amount.
Quality customer support is an inevitable and important segment when joining a particular trading platform. While reviewing Skyline Markets, we noticed how they provide several options to contact them: via email (several departments), live chat and telephone.
Icons for live chat and emails can be found on the left side of the platform. What we find especially important is the fact they claim how customer support service is available 24/7 to assist South African traders during trading process.
Another significant element we came across in Skyline Markets broker review is that they offer traders long and useful Education Centre, which can be found under Trade tab.
This Education Centre is extensive and consists of many tips and instructions on how to benefit from binary options by using trading instruments provided by Skyline Markets broker. To help traders to find needed info more easily, they can see a detailed list of Q and A in FAQ, such as more details about trading accounts, banking info, registration and security.
Skyline Markets Banking
To ensure registered traders in South Africa more safe trading experience, Skyline Markets uses 256bit SSL encryption safety system which encrypts traders’ data and keep their funds segregated.
Our Skyline Markets broker review showed us how accepted deposit methods are:
Debit / credit cards – Mastercard, Diners Club, American Express, CartaSi, JCB, Visa, Laser, Visa Electron, Maestro and Carte Bleue
Bank wire transfer
E wallets – Skrill Moneybookers, iDeal, Ukash and China Union Pay
To enable South Africans to make withdrawals, traders need to comply to KYC (Know Your Customer) policy. Therefore, traders need to send this broker few documents to authorize their trading account, such as copy of ID card, proof of address and credit card copy which will be used when trading on this platform.
Minimum withdrawal requirements are $100 and traders are first obligated to fill in withdrawal request and afterwards they will be granted option to make a funds withdrawal. Usually, it takes around 3 business days for request to be processed and extra up to 7 business days until funds become visible on traders’ bank account.
Our Skyline Market broker review revealed how they don’t charge any fees for credit cards. Other payment options allow 2 withdrawals per month free of charge while for additional one in the same month, fee of $30 will be charged. VIP, Broker and Executive account holders will have withdrawal approval on the same day.