Sky Alliance Markets Scam Warning: ASIC Licence Cancelled

🔴 ASIC Licence Cancellation and Clone Licence Finding

The Australian Securities and Investments Commission (ASIC) took very serious regulatory decisions about Sky Alliance Markets:

• ● Licence cancellation: ASIC formally cancelled the licence of Sky Alliance Markets. Cancellation of a licence is one of the most severe decisions a regulator can take and shows that the firm seriously failed to comply with regulatory rules.
• ● Clone licence: The firm was found to have created a false regulatory appearance by imitating the licence details of another firm authorised by ASIC. Using a cloned licence is a deliberate attempt at deception.
• ● Double violation: Both the cancellation of the original licence and the cloning of another firm's licence indicate that Sky Alliance Markets knowingly misled investors.
• ● Website unreachable: The domain skyallmarkets.com is no longer active — this suggests that the firm ended its operations under regulatory pressure or continues its activities under a new name.

⚠️ Reports from Victims and Losses Identified

Serious reports of harm from Turkish investors have been recorded about Sky Alliance Markets:

• ● Withdrawal obstruction: When investors tried to withdraw the balances in their accounts, the requests stayed stuck in "processing" status and no result was obtained. It is reported that e-mails sent to the firm went unanswered.
• ● Profits not paid: Investors who made profitable trades on the platform report that their earnings were not paid. The fact that withdrawals cannot be made although profit appears in the account suggests that the platform does not offer a real trading environment.
• ● Loss of contact: Customer support channels do not respond and e-mail traffic stays one-way. There is no live chat or telephone support.
• ● Regret and no solution: Victims state that the promises of the platform did not reflect reality and that no solution was offered to the problems they faced.

What Is a Clone Licence and Why Is It Dangerous?

The "clone licence" method used by Sky Alliance Markets is one of the most dangerous deception techniques in the financial world:

• ● Definition: A clone licence means that a fraudulent firm copies the licence number, address and regulatory details of another firm that is genuinely authorised and displays them on its own website. When the investor checks the regulator's website, the licence number turns out to be real — but the licence actually belongs to another firm.
• ● Difficulty of detection: Firms using a clone licence look legitimate at first glance. Even an investor who verifies the licence number may not notice whether the licence really belongs to that firm or to another one.
• ● How to guard against it: When checking a licence, verifying the number alone is not enough — it is critical to confirm on the regulator's official website in whose name and for which website the licence was issued.
• ● ASIC's approach: ASIC regularly identifies and blacklists firms that use clone licences. Sky Alliance Markets is one of these findings.

🛡️ Protection Guide

• ● Whether a firm appears on the list of authorised institutions can be checked at spk.gov.tr — Sky Alliance Markets is not on this list.
• ● It is not enough for a firm to show a licence number — whether the licence really belongs to that firm can be verified by comparing the firm name and website details on the regulator's official site.
• ● The licence status of brokers that claim to be based in Australia can be checked on ASIC's official website.
• ● The closure of a platform's website does not mean that the operation has ended. The same scheme may have started operating again under a different name and domain.
• ● In cases of this kind, the records usually requested include account screenshots, bank receipts and correspondence. For detailed information and legal support, you can contact Savun Law & Consultancy.

Frequently Asked Questions