Skilling Review

Top Markets at Industry-best Pricing. Choose from 900+ top CFD instruments across 7 asset classes at the most competitive prices

Broker: Skilling

Leverage: 1:30

Regulation: CySEC. FSA

Min. Deposit: 100 US$

HQ: Cyprus

Platforms: MT4, cTrader and Skilling Trader

Found In: 2016

Website: skilling.com

Skilling Licences

  • Skilling (Seychelles), Ltd - Authorized by FSA (Seychelles), license no. SD042

  • Skilling Ltd - Authorized by CySEC, (Cyprus),registration number. 357/18

Who is Skilling?

Skilling, a fintech company founded on STP performance, was launched as an accessible, simple-to-use trading platform and brokerage that allows both beginners and professionals to get involved.


It was founded by a Scandinavian team of tech professionals. The company was then incorporated in Malta, and later moved to other locations. Skilling's headquarters are in Cyprus. They also serve the UK legal branch and expand their proposal through an international entity based in Seychelles.


The broker offered a balanced trading proposition with more than 800 instruments and the availability of popular trading software such as MT4 or cTrader. Skilling also developed Skilling Trader, a software that allows traders to concentrate on their performance


Overview

Skilling is a Malta-incorporated Cyprus-headquartered fintech company offering an accessible, simple-to-use trading platform and brokerage for both beginners and professionals since 2016


Pros

  • Over 900+ trading instruments

  • MT4, cTrader and Skilling Trader

  • Free Demo account

  • Low commission fees

  • Multi-language support

  • Wide range of trading tools and technical solutions to low-risk trading

  • Possibility to quickly open an account and access a wide range of trading platforms


Cons

  • No educational tools

  • No multi-currency account

  • Support not available 24/7

  • International proposals may be different than EU regulated ones


Rating of the company overall

  • Reliability ⭐⭐⭐⭐⭐

  • Platform ⭐⭐⭐⭐⭐

  • Commissions ⭐⭐⭐

  • Support ⭐⭐⭐⭐

  • Financial instruments ⭐⭐⭐⭐⭐

RATING: 4.4


Specifications

Is Skilling safe for trading?

Skilling is a trusted broker because of its licensing and legal issues. This ensures that the company's operations are compliant with international financial standards and trading requirements.


Skilling was founded in Malta, and it later moved its headquarters to Cyprus. It also received a Forex trading licence from CySEC. This license also complies with European ESMA standards.

Skilling was also authorized to legally operate in the UK due to its presence and established branch. Overall, Skilling is licensed in every jurisdiction where it offers trading services.


There is also an offshore Seychelles license, which provides registration and not serious regulation. However, additional licenses from reputable agencies make the Skilling operation reliable.

Skilling has Excellent rating based on 109 reviews at Trustpilot

Trade Instruments

You can trade Skilling on popular currency pairs including minor ones. CFDs are also available on stocks, indies, energies and metals. This includes 10 Cryptocurrencies such as Ripple and Ethereum. Litecoin and Bitcoin.

Leverage

Regulated Forex brokers can also offer leverage options that could increase your profits and gains. However, leverage can make profits and losses larger in both directions. Global regulations limit leverage to certain levels.

The Skilling entity that you will trade through also defines the leverage levels. because of European regulation significantly lower allowed leverage retail clients for 1:30. Professionals are entitled to higher levels up to 1 to 200. Below are more examples from Europe and the UK.

Skilling's proposal was made global via an international branch in the Seychelles. Opening an account with this entity will enable you to leverage higher amounts up to 1:500. However, it is important to learn how to manage high-risk leverage and how to use it smartly.

Types of accounts

There are two types of Standard Accounts: one that is spread-based and one that is Premium. These accounts are executed on ECN Account execution using raw spread offering and a commission charge per million traded. It is great that you can only open one account and use any platform for Standard account offering, including MT4, cTrader and Skilling Trader which we will discuss in more detail in our Skilling Review.

The Premium account does not include MT4 but it is not a major limitation. However, cTrader and other proprietary platforms may be better for day traders or active trading.

Fees

Pricing model and fees for skilling trading are largely based upon spread charge. However, make sure you verify the correct conditions. Fees will vary depending on which account type you choose.

Spreads

Standard account conditions are preferred by most traders. Spreads start at 0.7 pip and all costs are included in the spread. Forex and currency pair fees can be competitive with the industry, where EUR USD is typically 1 pip.

Premium accounts offer interbank spreads starting at 0.1 pip and a 35$ commission per million traded which is very competitive.

Trade Platforms

You can choose from industry leaders MetaTrader4 or powerful cTrader. Skilling Trader is a proprietary software that was developed in-house and is very advanced.

Pros

  • Software for trading that is user-friendly

  • Skilling Trader, MT4, and cTrader are all available

  • Platforms that support Web, Mobile, and Desktop platforms

  • Fee Report

  • No limitation on the technical analysis

  • Fantastic research tools

  • This product is suitable for both professional and routine use

  • Supporting various languages


Cons

  • Premium accounts do not support the MT4 platform

Web trading

You can choose from many platforms, and you have access to all of them through one account credential. The Premium account doesn't support MT4 platforms.

Skilling Traders was created by experts in trading software. It is fully web-based and has its own mobile application that allows you to keep up with the latest news on the move. cTrader, MT4 also support Web platforms. However, for more detailed analysis it is recommended to use the desktop versions.

Desktop platform

MetaTrader4 is a great choice for traders as it allows automated trading and offers a wide range of plugins.

Skilling cTrader makes it more attractive for advanced traders, as it also has powerful capabilities, a large number of indicators, professional risk management and an algorithmic trading option via C#.

Mobile Trading Platform

Easy to use and free for iPhone and Android, apps that support all platforms. Skilling is a great trading platform that can be used by any trader, regardless of their size. This is why we have included it in our Skilling Review.

Payment Methods

Skilling does not usually charge deposit fees or other internal charges. Deposits are visible within one hour.


  • Bank Wire Transfers, Trusly

  • Credit Cards and Debit Cards

  • Skrill and Neteller are two examples of e-wallets


International traders will have more options, including AtroPay, FasaPay, Swish, Directa, and many others.

Skilling Minimum Deposit

The minimum deposit at Eightcap is 100$ for all account types. Eightcap doesn't charge any fees for deposits or withdrawaThe first deposit to a Skilling Standard account is 100$. Premium accounts will require 5000$. Also, make sure you check the margin requirements for each trading instrument.ls. However, you need to note that payments from non Australian banks could be subject to fees. This is your sole responsibility.



Skilling Minimum Deposit vs Other Brokers

How do I make a deposit?

  1. Choose a account

  2. Select a payment method

  3. An email will be sent to confirm the deposit

Withdrawals

Skilling withdrawal options permit you to use the most commonly used Bank transfers and Credit Cards, as well as e-wallets.

Customer Support

Along with very advanced trading conditions, you'll also get support that offers customer service in different languages, available 24/5, as well as support for international phone lines and live chat. Skilling has a very high rating for customer service quality. They respond quickly.

Education

Skilling offers a demo account, and includes some useful research toolsthat can be used to analyze the trading platforms you choose. You can test each one and decide which is best for you. However, we rate it highly.

However, beginning traders won't get the required education support, learning courses or fundamental analysis at Skilling. We recommend that you sign up for an extensive education program with other providers, or check brokers to beginners, if you still want to trade with the broker.

Conclusion

Skilling, a relatively new broker, has gained a solid reputation and offers competitive trading conditions. The best thing about Skilling's proposal is the wide range of trading software, including leading platforms and proprietary. All are available through one account. The support center is responsive and professional users will receive an advanced proposal that includes tailored solutions. The only problem is the lack of educational resources and materials. Therefore, complete beginners will need to look elsewhere for webinars or courses.