Beware! SkycryptOption is an offshore broker! Your investment may be at risk.
SkycryptOption Key Features
🔴 SkycryptOption services are not trustworthy – a warning sign!
🔴 SkycryptOption is under no regulatory oversight – a red flag!
🔴 SkycryptOption is not transparent and lies about its whereabouts – a red flag!
🔴 SkycryptOption is affiliated with a staggering number of other scams – a red flag!
SkycryptOption Products and Services
SkycryptOption is yet another fake investment company that sells its clients various tiers of investment plans. Even though the returns on these plans are not mentioned, we are quite sure SkycryptOption claims them to be incredibly high once someone opens an account with the firm. That is because SkycryptOption is running a scheme, known as a HYIP.
HYIP stands for High-Yield Investment Programme and these businesses usually promise higher ROIs (return on investment) than usual. In some cases, the offers are just ridiculous- up to hundreds and thousands of percentages per day, which certainly can't happen. To draw a comparison, even the wealthiest banks or investment funds are not capable of delivering more than 10% per year, let alone per day or week. Therefore, the products and services assessment suggests that you'll be at risk if you deposit.
That being so, it's worth considering trendy alternatives that can help you build an extra income, such as Forex brokers PAMM managed accounts, social trading or crypto services that may as well fulfil your investment needs. For example, many cryptocurrency exchanges already provide passive income opportunities like BTC and ETH staking but make sure to subscribe to well-known, proven networks.
SkycryptOption Company and Regulation
SkycryptOption is not a regulated firm – in fact, it has a warning issued against it by the British regulatory body, the FCA. This means SkycryptOption is a scam that has been exposed from a very reputable regulator – avoid it!
The lack of regulation implies that the people operating this HYIP are working unchecked, meaning they can misuse or misappropriate your funds, eventually bearing no responsibility for their actions. To draw a distinction, regulated investment companies are forced by law to follow certain rules that guarantee the safety of clients' funds. For example, to get a license, a firm should meet minimum capital requirements that vary from country to country and may also depend on the product specification as there are many types of investments possible- stocks, bonds, mutual funds, banking products, fixed-income, retirements and so on.
In the US, the minimum capital requirement is 20 million USD, which happens to be among the heftiest in the world. Other than that, US financial services companies are also required to keep accounts segregated, thus ensuring that clients' money can't be exposed to unnecessary risks or stolen. However, it's worth noting that the US regulatory framework is very complex as there are numerous financial authorities, among which NFA, CFTC and SEC, to name a few, and all of these monitor companies in one way or another. The US markets may be tricky for the ordinary investor, so make sure to acquaint yourself with the environment before you've wasted money on potential scams like the one under review. And you'd better avoid unregulated investment businesses at all times.
SkycryptOption Address and Contacts
|13 RED CROSS STREET BRISTOL UK.
SkycryptOption claims to be operating from the UK. However, that cannot be the case – in its warning, the FCA has explicitly mentioned the firm is not licensed with it. There is no shortage of scammers who lie about their whereabouts in a bid to attract more clients – make sure you are trading with a fully transparent company instead!
When it comes to investing, transparency is crucial as you should know who's running the investment and where your money actually is. Legit firms always operate transparently and are bound by law to provide the public with basic corporate information, including addresses, contacts and legal documents disclosing all provisions related to the service. And our experience shows that it’s most probably a scam if you can't reach anyone over the phone given, can't validate the addresses or can't in any other way prove that the investment provider has the authorisation to offer financial products.
Skycryptoption.com Website Info
|None at the time of writing
|WHOIS Reg. Date
|Redacted for Privacy
|Redacted for Privacy
SkycryptOption operates on an IP address that is quite familiar to us. To date, we have exposed a staggering number of 27 other scams on it, and all of them are quite similar to SkycryptOption. While it is not surprising for scammers to run more than one site, as their endeavors often end up getting shut down, the magnitude of the scam at hand would be impressive if it were not so concerning. The fact SkycryptOption is operated by one of the most prolific groups of scammers we have covered is another reason to avoid the company – as well as the rest of the scammers operating on the 126.96.36.199 IP address! Here is a full list of these companies, with more to be added as we cover them:
Is SkycryptOption Safe?
SkycryptOption cannot be anything other than a scam – that is the bottom line on the company. After reviewing its business model, its lack of regulation and transparency, we can only warn against investing with SkycryptOption.
Dealing with HYIPs and other unregulated investment providers is not recommended for many reasons. Above all, the absence of regulation strongly suggests a scam as only regulated firms are authorised to provide investment services. As you probably guess, scams can't flourish in a strong regulatory environment, so you'd better think twice before you've deposited with unregulated investment schemes.
The authorisation is only granted when the firm complies with the requirements and standards, which guides how the entities should treat you as a customer and what sort of information they should give you. Each country's regulator maintains a register of licensed firms and the investment services that each licensee is authorised to provide. On the other hand, unauthorised firms aim to avoid complying with the controls that legal, authorised entities are subject to, thus leaving investors entirely unprotected. Needless to say, scammers want to get you totally unprotected, and that's why they always work without a license.
As for HYIPs themselves, many of these schemes operate precisely as a Ponzi because many investors can actually withdraw initially, but sooner or later, the service will inevitably close. HYIPs usually target traders and investors with little or no experience by promising fictitious investment opportunities said to deliver unrealistically lucrative gains. 10% or 100% per day certainly isn't a legit offer.