Sky Alliance Markets Review 2023: Pros, Cons, and Trading Features

Sky Alliance Markets Review 2023: Pros, Cons, and Trading Features

Sky Alliance Markets, based in Australia, specializes in forex and CFD trading. Offering over 75 instruments across five asset classes, they provide 1:400 leverage, a demo account, and a copy trading tool. This review dives into their account options, payment methods, customer support, and regulatory compliance, aiming to guide potential traders through the sign-up process.

Here are the main points:

  • Minimum deposit: $100, with access to demo accounts and copy trading.
  • Leverage available on MetaTrader 4 platform and mobile app.
  • Account opening process is slow and complex.
  • Customer support services are not up to par.

Company Background: Founded in 2005 in Sydney, Australia, Sky Alliance Markets Pty Ltd operates as a financial brokerage. They utilize a no-dealing desk model, granting retail investors live interbank pricing.

Regulatory Compliance: Regulated by the Australian Securities and Investments Commission (ASIC), Sky Alliance Markets holds an Australian Financial Services License (AFSL).

Trading Platform:

Sky Alliance Markets uses MetaTrader 4 (MT4) available for desktop download and mobile usage.

MT4, established in 2005 by MetaQuotes Software, is a premier third-party terminal for forex trading. Renowned for its user-friendly interface, it caters to various tradable assets, offering features like charting, analysis, automated trading (EAs), and a vibrant online trading community. Additionally, day traders benefit from three order execution modes and four pending orders.

How to Use MT4 with Sky Alliance Markets

To begin trading with Sky Alliance Markets through the MetaTrader 4 platform, follow these steps:

  1. Create a Live Trading Account
  • Visit the broker's website and register for a live trading account.
  • Download MetaTrader 4 from the provided link on the website.
  • Sign in to the MT4 platform using your registered credentials.
  1. Navigating the MT4 Platform
  • After signing in, you'll encounter three main windows: Market Watch, Terminal, and Charting Screen.
  • Market Watch allows you to monitor various assets.
  • The Terminal displays your trading activities and positions.
  • The Charting Screen shows live charts for the assets you choose to monitor.
  1. Placing a Trade
  • Log in to the MT4 platform.
  • Click on the 'New Order' icon in the top toolbar.
  • Select the asset you wish to trade (e.g., AUD/USD).
  • Input trade details such as position size and optional risk parameters like stop loss or take profit.
  • Choose 'Buy' or 'Sell' to initiate a position.

Markets & Instruments

Sky Alliance Markets offers a selection of assets across various categories:

  • Futures: US Dollar Index (USIDX)
  • Indices: Major global indices including UK100, GER30, and AUS200
  • Cryptocurrency: Popular options like Bitcoin, Bitcoin Cash, and Ethereum
  • Commodities: Precious metals (Gold, Silver) and energies (Brent Oil)
  • Forex: A range of 57 currency pairs including majors, minors, and exotic pairs.

Fees, Leverage, and Mobile App

  • Fees: Commission charges apply for ECN accounts ($7 per round lot), while Standard profiles offer commission-free trading with spreads starting from 1 pip on EUR/USD.
  • Leverage: Up to 1:400, varying across asset classes.
  • Mobile App: Although there's no proprietary mobile app, the MT4 application (available for Android) mirrors desktop features for trading convenience.

Payment Methods and Deposits

  • Sky Alliance Markets requires a minimum deposit of $100 or equivalent currency for the Standard account.
  • No fees are charged for deposits or withdrawals.
  • Accepted payment methods include cryptocurrency, Union Pay, Payment Asia, Neteller & Skrill, credit/debit cards, and bank wire transfers.

Demo Account, Regulations, and Account Types

  • Demo Account: Easily accessible from the broker's website, offering a virtual currency of USD for practice.
  • Regulation: Regulated by the Australian Securities and Investments Commission (ASIC), ensuring compliance with stringent rules and segregated funds.
  • Account Types: Four live trading accounts are available, catering to different trading styles, with swap-free versions also offered.

Opening a Sky Alliance Markets Account

  • Visit the broker's website or use the provided link in this review.
  • Fill in necessary details for sign-up and choose an account type.
  • Complete KYC verification by providing identity and address proof.
  • Await confirmation via email with login credentials.
  • Make a deposit using supported methods and start trading with MT4.

Additional Features

Education: Sky Alliance Markets provides free educational resources, although the content tends to be rudimentary. These resources include glossaries and an economic calendar. Some content is yet to be translated from simplified Chinese but can be accessed and translated through third-party translator sites.

Market insights and economic news are available for day traders. However, during our experience with Sky Alliance Markets, we found that much of the information was outdated and offered limited value.

Copy Trading: The broker offers a copy trading feature. Through the 'signal source function,' traders can select professional investors to emulate. The system supports unlimited copying of positions and reverse copy trading without delays. Positions can be opened based on volume allocation or a percentage of invested funds.

Access to the copy trading tool can be requested by signing up on the website.

Trading Hours

Sky Alliance Markets adheres to standard trading hours, although they vary by instrument:

  • Forex: Sunday 22:00 to Friday 22:00 (GMT+3)
  • Futures: Sunday 23:00 to Friday 22:00 (GMT+3)
  • Commodities: Sunday 23:00 to Friday 22:00 (GMT+3)
  • Cryptocurrencies: Sunday 22:00 to Friday 22:00 (GMT+3)
  • Indices: Varies by local market, for instance, JPN225 index trading occurs Sunday from 23:00 to Friday 22:00, and FRA40 index trading occurs Monday from 07:00 to Friday 21:00 (GMT+3).

Customer Support

Sky Alliance Markets offers limited customer support. The support team can be contacted solely via email at or

The absence of live chat or telephone support, standard offerings by most broker-dealers, is disappointing. Moreover, information regarding contact hours is not provided.

Security & Safety

While Sky Alliance Markets claims to employ the 'latest technologies for customers' financial safety,' the practical implementation of this remains unclear.

On a positive note, the MetaTrader 4 platform includes transaction encryption, data privacy protocols, and two-factor authentication for logins.

Sky Alliance Markets Evaluation

Sky Alliance Markets presents relatively competitive trading conditions, notably offering high leverage and ECN accounts. Regulated by the Australian Securities and Investments Commission (ASIC), the company holds a trustworthy stance.

However, the brokerage falls short in terms of customer support availability, pricing transparency, and accessibility to additional trading tools and features.

Pros and Cons


  • Availability of a demo account
  • Seamless integration with MT4
  • Copy trading functionality
  • Low minimum deposit requirement
  • Multiple account currency options
  • Diverse range of investment choices


  • Weakness in customer support

Sky Alliance Markets Broker Details

Disclaimer: - We at forexoverflow do not endorse neither refer anyone to trading broker websites. The information is for educational purpose and source of information is from the broker website.


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