SkyGrandLegacy has been flagged by Autorité des marchés financiers for "Unregistered/Unlicensed entity offering financial products or services". SkyGrandLegacy is not registered with the Autorité des marchés financiers (AMF) and is not authorized to solicit investors in Québec.
Last known city: Zurich, Switzerland. This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: skygrandlegacy.com.
SkyGrandLegacy had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: Good mobile app|Instant funding
Cons: Account statements could be more detailed
After seeing ads for SkyGrandLegacy online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Autorité des marchés financiers. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
KYC with SkyGrandLegacy is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Comprehensive tools|Multiple order types
Cons: No integrated tax optimization
I have been trying to close my account with SkyGrandLegacy for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Easy withdrawals|Social trading features|Segregated accounts|Helpful community forum
Cons: No fractional shares|Limited demo account features
The onboarding at SkyGrandLegacy was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: Smooth onboarding|Risk management tools
Cons: Email notifications too frequent|Help articles are sometimes vague
The only good thing about SkyGrandLegacy is that they remind you why regulation matters. I found them through a financial advisor. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Good analytical tools|Instant funding
Cons: Slow to add new assets|Currency conversion fee exists
The hidden fees at SkyGrandLegacy are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Great customer service|Excellent charting|Dividend tracking|Tax reports included
Cons: No integrated tax optimization
Tried to withdraw my funds from SkyGrandLegacy and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: Lost entire investment|Reported to authorities|Unresponsive
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. SkyGrandLegacy said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Comprehensive tools|No hidden fees|API access|Easy withdrawals
Cons: Withdrawal takes 1-2 business days
This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.
Cons: Appears in regulatory warnings database|Uncertain regulatory status