About Skart Market
Company Background
Skart Market is a brokerage entity registered in Hong Kong, with an establishment date of August 5, 2019. The company operates under the domain skartmarket.com. Based on our records, the broker does not hold any known regulatory licenses from recognized financial authorities.
Given the absence of regulatory oversight, traders should approach this broker with caution. The lack of disclosure regarding licensing and regulatory compliance raises questions about the safety of client funds and the overall operational transparency.
Regulatory Status
Our research indicates that Skart Market is not regulated by any major financial regulator such as the FCA, ASIC, CySEC, or others. This is a significant red flag for potential clients, as unregulated brokers do not have to adhere to strict standards regarding client fund segregation, financial reporting, or dispute resolution.
The broker's registration in Hong Kong does not imply regulatory oversight, as Hong Kong requires a separate license from the Securities and Futures Commission (SFC) for forex brokers. There is no evidence that Skart Market holds such a license.
Risk Assessment
FXCanary has assigned Skart Market a Scam Risk Score of 51 out of 100, placing it in the 'Elevated' risk category. This score reflects the high level of uncertainty due to the lack of regulation and the limited availability of independent public information about the broker.
Potential clients should be aware that trading with an unregulated broker carries inherent risks, including the potential for loss of funds, lack of recourse in case of disputes, and possible involvement in fraudulent activities. We recommend thorough due diligence before committing any funds.
Overview compiled by FXCanary from regulatory records and public data. full Skart Market review