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Skyfx Complaints Summary

0 Resolved
2 Unresolved
Our verdict: Engaging with Skyfx at a 0% resolution rate requires careful navigation. Deep-dive into detailed customer experiences to uncover systemic issues. Critically assess their service descriptions against actual user feedback. When interacting, document every detail, as comprehensive records are vital in such scenarios. Exploring alternatives and understanding your consumer rights are crucial steps. If necessary, be prepared to seek external advice or intervention. In challenging service landscapes, informed decision-making and proactive steps are essential for protecting your interests.
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Skyfx reviews & complaints 2

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ComplaintsBoard
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4:35 am EST
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Skyfx My complaint is about financial products that weren't good products and skyfx wasn't keeping promises by telling lies

Sky FX phoned me, and asked me to trade with their company. One man/woman (I don't remember his/her name opened my account and I deposited $2890 USD and they deposited $2890. I was told I would get 110% return on my money.
Fred Malcovich has the full control of my account (so he was my account manager - introduce to me as a proffessional broker) and John James was his partner and his broker too. We communicated by phone and the use of Team Viewer, Fred and James phoned just about every day and managed the account. A few trades were opened and they showed a profit. I was asked to deposit another $10000 and I would get $40000 in return plus the bonuses.
I was asked to deposit more money and promised more returns and eventually Fred told me if my account reached a 40% margin level it would close and I would lose all of my money. As time went on I told Fred I did not wish to trade any more as I did not want to risk all of my funds and that I didn't want to take so big risk, but very low risk. Fred encouraged me to trade saying he would operate my account with less risk on a 700 % level instead of 200% and I shouldn't worry about my money, there was no trouble as they had ablolutely the control of my account! Ferd Malcovich and John James were aware that I was unable to deposit it any more money. More trades were opened and the level was about 200% again Fred not keeping his word.
One day my account collapsed and Fred and John tried several times to deposit more money to my account. I replied I had no more money so my account was closed (became zero).

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Update by George Marmaras
Jan 23, 2024 3:35 am EST

Hello Alfred, thanks for your reply.

I recovered the 80% of my funds by myself.

I made complaint to Ombudsman of Cyprus (Cysec).

I was one of a lot of victims but only 3 cases were demanding money from SkyFx which was under liquidation (year 2016).

The Ombudsman of Cyprus took decision in our favor.

So the point was, if Skyfx had money at its bank account. Fortunately, there was money!

From one side was a bad experience but from the other side was a satisfaction that made me more stronger to avoid scammers in my life...

NO TRUST ANYBODY expecially from internet!

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Alfred Y. Nagy
Alfred Y. Nagy
Okolona, US
Sep 17, 2022 12:35 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

Hello George, SkyFx is 100% Scam. I got scammed up to $20k, That was 2 years ago. SInce i had no help even from the Local Police, I had to let them be, Till last month when i saw a post on this website about Paige Mccubbin and how she was able to recover funds for victims who has been scammed one way or the other.

I contacted her on Telegram, Her name is Paigecubbin on Telegram. She was able to recover my money within a week.

It's amazing, so you should contact her to recover your funds from scammers.

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ComplaintsBoard
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5:43 am EST
Verified customer This complaint was posted by a verified customer. Learn more

Skyfx Trading Forex services

Skyfx is a scam company because their brokers are scammers! A broker FRED MALKOVICH (Freddy Malkovich < m.[protected]@gmail.com>) through his partner John James - even now I do not know how MALCOVICH and James found my telephone numbers and in the name of skyfx and under a lot of pressure they were calling me daily from UK +[protected]/+[protected] to deposit money by my credit card VISA (from 28/04/2015 to 19/06/2015)! Fred Malcovich was clicking in my account 153241 of skyfx opening aggressive new positions by Team Viewer. He grabbed all my funds by opening new aggressive positions even I told him not to do that because I wanted in my account low risk (he told me: Don't worry my friend, I know what I am doing, I am proffesional broker, no promlem, you will not lose your money, next week you will withdraw (take back) your funds!). So my portofolio from 28/04/2015 to 19/06/2015 became zero when he took the control of my portofolio on 29/05/2015. That happened because when I didn't have any more money to deposit, my account became zero! When it goes in the opposite direction, they asked me to add money, otherwise you will lose everything (although on their website and they said that all the funds are protected from loss ). I trusted FRED MALCOVICH because he introduced to me as a proffesional manager of portofolios and he used the name of skyfx.com! P.S. 28/04/2015 I made my first deposit and 29/05/2015 I asked from skyfx (because I made profit by myself) that I wished I had withdrawn an amount, but they didn't let me because they told me that I had to turnover all my funds! From 29/05/2015 to 19/06/2015, Fred Malcovich took the managment of my portofolio so I lost all my funds in 20 days!

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Is Skyfx legit?

Our verdict: Skyfx's legitimacy, as determined by Complaints Board, strikes a balance between trust and caution. This nuanced position suggests that while Skyfx may operate with some level of legitimacy, users are strongly advised to undertake their own verification processes, reinforcing the call for a cautious but informed interaction.

Skyfx earns 52% level of Trustworthiness

Average Trust Update: Skyfx assessed by Complaints board with 52% credibility. Caution advised for personal and financial details.

Skyfx.com has a valid SSL certificate, which indicates that the website is secure and trustworthy. Look for the padlock icon in the browser and the "https" prefix in the URL to confirm that the website is using SSL.

Skyfx.com you are considering visiting, which is associated with Skyfx, is very old. Longevity often suggests that a website has consistently provided valuable content, products, or services over the years and has maintained a stable user base and a sustained online presence. This could be an indication of a very positive reputation.

However ComplaintsBoard has detected that:

  • There was some difficulty in evaluating or examining the information or data present on the skyfx.com. This could be due to technical issues, limited access, or website may be temporarily down for maintenance or experiencing technical difficulties.
  • Skyfx protects their ownership data, a common and legal practice. However, from our perspective, this lack of transparency can impede trust and accountability, which are essential for establishing a credible and respected business entity.
  • We conducted a search on social media and found several negative reviews related to Skyfx. These reviews may indicate issues with the company's products, services, or customer support. It is important to thoroughly research the company and its offerings before making any purchases to avoid any potential risks.
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+44 203 519 2485 +357 22 007 240 More phone numbers

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www.skyfx.com

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