I'm looking for new broker to start trading. A friend of mine suggested SKY FINANCE GROUP. However, I've never heard of this broker before. Would you suggest it as a safe broker?

https://skyfinancegp.com/en/  

Sky Finance Group is an unauthorized broker and should be avoided at all events. Sky Finance Group claims its foundation in 2016 and has won awards in 2017 and 2018. However, this statement sounds more like false advertising of its reputation as this broker's domain was just created in late 2021.

Besides, this broker claims to be authorized and supervised by the US National Futures Association (NFA) with registration number 0537664. We indeed found a matching result in NFA's registry, however, Sky Finance Group is not overseen by the regulator since it is not an approved member of NFA. As a forex trader, you must bear in mind that if a broker claims to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of NFA; 2) be admitted as a "retail forex exchange dealer." Obviously, Sky Finance Group doesn't satisfy these conditions. That means, this broker is merely a registered firm rather than a regulated one and is not qualified to carry out such services. Therefore, it is thoroughly a scam.

We would recommend traders to stay away from unregulated brokers like Sky Finance Group and trade with licensed brokers.