Skilling Review 2024
3.8

Skilling Review 2024

Minimum deposit: $25

Trading financial products on margin carries a high degree of risk and is not suitable for all investors. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Skilling is a relatively new online broker. But is it the right broker for you? Read our Skilling Review to find out.

Skilling is an online brokerage that lets you trade on a variety of CFDs, including forex, stocks, cryptocurrencies, commodities, indices, and more. In this review, we’ll look at what Skilling offers, including the account types, trading instruments, fees, and their in-house platforms.

Pros
  • Free deposits and withdrawals
  • Access to a great level of liuidity
  • Over 800 tradable assets in 17 global markets
  • Competitive spread and access to commission-free trades
  • Highly secure and well regulated broker
Cons
  • Limited educational resources
  • Lack multi-currency accounts
  • Low leverage for inexperienced traders
  • Doesn’t accept clients from the U.S.
  • No 24/7 support

Company Overview

Founded in 2016, Skilling is a relatively new player in the online trading industry. The platform is owned and operated by Skilling Ltd., which is headquartered in Cyprus. It has multinational offices based in Malta, Spain, and Cyprus.

Skilling is regulated by the Financial Conduct Authority (FCA), the Cyprus Securities & Exchange Commission (CySec), and the Financial Services Authority (FSA). It accepts trailers from more than 180 countries. Note that residents of Australia, Japan, and the United States cannot register with Skilling.

How To Get Started on Skilling

As a new user, you can start trading on Skilling by following these steps:

Register for an Account: Click on the registration link and fill out the sign-up form, which only takes a few minutes.
Verify Your ID: Upload your identification documents or register using BankID for a quick verification process.
Make a Deposit: Choose from the list of supported payment options to fund your account.
Download the Platform: Download your preferred trading platform or use the web browser version.
Select an Asset: On the web platform, for example, choose an asset from the menu in the top left corner.
Set Trade Parameters: An order window will appear where you can adjust trade parameters, including execution type, position size, stop loss, and take profit levels.

User Interface and Experience

One of Skilling’s standout features is its intuitive and sleek user interface. The platform is designed with both beginners and experienced traders in mind, offering a seamless navigation experience. The clean layout and easy access to essential tools make it simple for users to manage their trades and analyze the market. The platform supports multiple languages, which broadens its accessibility and user base.

Trading Platforms

Skilling offers three main trading platforms: Skilling Trader, Skilling cTrader, and Skilling MetaTrader 4 (MT4).

Skilling trader platform description

Skilling Trader

Skilling Trader is a proprietary platform designed to be accessible for both beginners and advanced traders. It features a user-friendly layout, intuitive tools, and full web and mobile compatibility. With lightning-fast order execution, Skilling Trader enables traders to capitalize on market opportunities quickly and effectively.

cTrader

Skilling’s integration with cTrader offers a sophisticated trading experience. This platform provides various instruments, quick entry and execution, extensive customization options, and a wide range of technical indicators. Its straightforward interface and commission-free approach make it popular among traders, providing transparency and cost-effectiveness.

MetaTrader 4 (MT4)

MetaTrader 4 (MT4) is a widely favored platform known for its robust features. Skilling’s MT4 interface provides access to automated trading, expert advisors, and a comprehensive suite of technical indicators. This platform is ideal for both professional traders and amateurs, offering confidence and efficiency in navigating financial markets.

Skilling Copy

Skilling Copy Trading

Skilling Copy is a unique platform that allows traders to replicate the strategies of experienced investors. This feature enables users to evaluate performance data and track records of other traders. It prioritizes risk management with an Equity Stop Loss feature and allows users to start, pause, and stop copying transactions, thereby optimizing their investment potential.

Skilling Account Types

Skilling account type comparison

Demo Account

The Demo Account is a valuable, risk-free tool for traders to refine their strategies. It simulates a real trading environment with 10,000 units of virtual capital, enabling users to experiment with various strategies, leverage options, and risk/reward ratios.

Available on web, Android, and iOS devices, the Demo Account offers a reliable and consistent platform experience, allowing traders to practice and improve their skills in a safe setting.

Standard Account

This is the commission-free trading account on Skilling available on the Skilling cTrader and Skilling Trader platforms. It has quite competitive spreads (starting at 0.7 pips) as well as access to various financial markets. However, you should note that trading crypto CFDs will require additional requirements. The minimum deposit requirement will also vary by country.

Premium Account

The Skilling Premium Account is meant for experienced traders who want smaller spreads and volume-based commissions. You need a minimum deposit of €5,000 (or equivalent) or a monthly $10,000,000 trading volume. The account operates on the same platform as the Standard Account but offers an improved trading experience with the same stop-out and leverage settings.

MT4 Account

The Skilling MT4 Account is designed for traders who want to use the MT4 platform. It provides competitive spreads of 0.7 pips and no fees. It has lots of currency pairings, commodities, and indices, and the starting deposit is similar to that of the Standard Account. It also offers micro-lot trading capabilities and high leverage, which makes it suitable for traders of all skill levels.

MT4 Premium Account

The MT4 Premium Account is tailored for professional traders who prefer the MT4 platform. It features low spreads and a $30 fee per million transactions, requiring a minimum deposit of €5,000. This account supports a limited range of financial products, primarily focusing on currency pairs and commodities.

This account is ideal for seasoned traders seeking optimal trading conditions and the advanced capabilities of the MT4 platform. It provides a comprehensive array of features and benefits designed to help traders reach their financial objectives efficiently.

Asset Variety

Skilling provides a broad spectrum of tradable assets, ensuring that traders can diversify their portfolios. The available asset classes include:

Forex: Over 70 currency pairs, including major, minor, and exotic pairs.
Commodities: A range of commodities such as gold, silver, oil, and more.
Indices: Popular indices from major global markets.
Stocks: A diverse selection of stocks from leading exchanges.
Cryptocurrencies: Major cryptocurrencies like Bitcoin, Ethereum, and others.

Deposits & Withdrawals

In the EU, the minimum deposit for Standard Skilling accounts is 100 EUR, GBP, USD, or 1000 NOK, SEK. For Premium accounts, the minimum deposit requirement is higher, set at 5,000 EUR, GBP, USD, or 50,000 NOK, SEK.

Skilling supports a variety of payment methods, including bank transfers, Visa and Mastercard debit and credit cards, as well as e-payment options like Skrill, Klarna, and Neteller. However, the brokerage does not currently accept cryptocurrency payments.

Deposits and withdrawals are generally free, though Skilling may charge a fee of up to 2.9% for transactions using Neteller and Skrill. Additionally, third-party charges may apply depending on the payment method.

Most deposits are processed instantly, while withdrawals typically take one working day. The exception is bank wire transfers, which can take between 2 to 7 business days.

Fees and Commissions

Skilling operates with a competitive fee structure. The brokerage offers tight spreads and charges no commission on most accounts, which is particularly appealing for retail traders. However, the cTrader platform does have a commission-based model, which might be preferable for high-volume traders due to its lower spreads.

Skilling maximum leverage and margin requirements

Educational Resources

Understanding the importance of education in trading success, Skilling offers a rich selection of educational materials. These include:

Skilling provides a variety of educational resources designed to enhance the trading knowledge and skills of both beginners and experienced traders:

Study Hub: Skilling’s Study Hub is a comprehensive learning platform that offers a wide range of trade courses. It is designed to educate traders at all levels, from novices to seasoned professionals.

Lessons: The Study Hub includes detailed lessons that cover various aspects of trading, providing in-depth education to help traders improve their understanding and strategies.

Articles: Skilling offers a collection of articles on trading and market analysis. These articles help traders better understand market patterns, trading tactics, and financial instruments.

Webinars: The broker hosts interactive webinars on a variety of topics, including market trends, trading methods, and platform instructions. These events provide valuable insights and real-time learning opportunities.

Tutorials: Skilling provides practical tutorials that guide traders on how to use their trading platforms effectively. These tutorials cover all the features and capabilities of the platforms, helping traders to maximize their potential.

Demo Account: A risk-free way for beginners to practice and for experienced traders to test new strategies.

Customer Support

Customer support is a crucial aspect of any brokerage, and Skilling excels in this area. The support team is available via live chat, email, and phone. They are known for their responsiveness and professionalism, ensuring that traders’ queries and issues are resolved promptly.

Security and Regulation

Skilling is committed to providing a secure trading environment. The platform employs advanced encryption technologies to protect user data. Additionally, Skilling is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (FSA). This regulatory oversight ensures that the brokerage adheres to strict financial standards and provides a level of protection to its clients.

Pros and Cons

Pros:

  • User-friendly interface suitable for all experience levels.
  • Wide range of tradable assets, including Forex, commodities, indices, stocks, and cryptocurrencies.
  • Multiple trading platforms (Skilling Trader, cTrader, MT4) catering to different trading styles.
  • Competitive fee structure with tight spreads and no commission on most accounts.
  • Extensive educational resources for continuous learning.
  • Strong customer support with multiple contact options.
  • Regulated and secure trading environment.

Cons:

  • Limited availability of advanced research tools compared to some competitors.
  • Commission charges on the cTrader platform, which might not suit all traders.
  • No availability of MetaTrader 5 (MT5), which is favored by some advanced traders.

Skilling FAQ’s

What types of accounts does Skilling offer?

Skilling offers several account types to cater to different trading needs, including Standard, Premium, and cTrader accounts. Each account type has different features, spreads, and commission structures to suit various trading strategies and volumes.

Is Skilling a Legitimate Broker or a Scam?

Skilling is a legitimate brokerage. Skilling is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (FSA), ensuring compliance with strict regulatory standards. They have also teamed up with reputable third-party software providers like cTrader and Metaquotes.

Can I trade cryptocurrencies on Skilling?

Yes, Skilling offers a range of cryptocurrencies for trading, including popular options like Bitcoin, Ethereum, and more.

What educational resources does Skilling provide?

Skilling provides a variety of educational resources, including webinars, tutorials, e-books, and articles. Additionally, they offer a demo account for traders to practice and test strategies without financial risk.

How can I contact Skilling’s customer support?

You can contact Skilling’s customer support via live chat, email, and phone. Their support team is known for being responsive and helpful.

Does Skilling charge commissions on trades?

Skilling offers a commission-free model for most accounts with competitive spreads. However, the cTrader account operates on a commission-based model with lower spreads, which might be preferable for high-volume traders.

What trading platforms does Skilling offer?

Skilling offers three trading platforms: Skilling Trader (proprietary), Skilling cTrader, and Skilling MetaTrader 4 (MT4). Each platform is designed to cater to different trading preferences and experience levels.

Is there a demo account available?

Yes, Skilling provides a demo account that allows traders to practice and test their strategies without risking real money.

What are the deposit and withdrawal options?

Skilling supports various deposit and withdrawal methods, including bank transfers, credit/debit cards, and popular e-wallets like Skrill and Neteller.

Does Skilling offer automated trading?

Yes, Skilling supports automated trading on its cTrader and MT4 platforms, allowing traders to implement algorithmic trading strategies.

Skilling Review: Our Verdict

Skilling is a reliable and secure brokerage that offers user-friendly platforms, broad asset variety, competitive fees, and strong educational resources. This makes it an attractive choice for traders of all levels. It’s regulated by leading authorities and operates across multiple regions all around the world. While it may have some limitations, such as the absence of MT5 and certain advanced research tools, the overall experience is positive.

Whether you are a novice trader looking to learn the ropes or an experienced trader seeking robust trading tools, Skilling provides a well-rounded and secure trading environment. Its commitment to customer support and user experience further enhances its credibility, making it a brokerage worth considering.

Skilling Review 2024 Details

Withdrawal Methods
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