Skilling Broker Review

Scandinavian-owned and Maltese-registered broker Skilling is shaking up the world of traditional Forex and multi-asset brokers. Regulated by the Seychelles-based FSA and the UK’s FCA, Skilling offers a trading environment for anyone interested in financial markets, with over 800 assets available on three trading platforms. In this review, we’ll look at Skilling’s pros and cons, regulation and security, fees, account types, trading platforms, deposits and withdrawals, research and education, customer support, and potential FAQs to help you decide if this broker provides a competitive edge for traders.

🏢 Headquarters	Nicosia, Cyprus
📅 Year founded	2016
🗺️ Regulation	CySEC, FSA
💻 Trading platform:	MT4, cTrader, Skilling Trader
💰 Account currency:	EUR, USD
📊 Accounts:	Standard, Premium, MT4, and MT4 Premium
💵 Withdrawal options:	Visa/Mastercard, Neteller, Trustly, Klarna, Skrill, Swish, AstroPay, FasaPay, Directa, UnionPay, Transact World, and 5 more payment methods
💵 Deposit options:	Visa/Mastercard, Neteller, Trustly, Klarna, Skrill, Swish, AstroPay, FasaPay, Directa, UnionPay, Transact World
🚀 Minimum deposit:	20 USD and (EUR 100 – EU)
⚖️ Leverage:	Up to 1:30 (for retail trading), up to 1:200 (for professionals)
☪️ Islamic account (swap free)	No
🎮 Demo Account	Yes
💱 Spread:	From 0.7 pip (Standard and MT4), from 0.1 pip (Premium, MT4 Premium)
🔧 Instruments:	Currency Pairs (53-73), Stock CFDs (760), Indices (16-18), Commodities (6), Cryptocurrencies (50)
📋 Orders execution:	Instant execution
☎ Customer Support:	24/7 Email Support Live chat (Monday to Friday (08:00 – 22:00 CET) Phone via +44 208 080 6555 or +357 22 276710 (Monday to Friday (08:00 – 17:00 CET)
📚 Education	Yes

Fees

Skilling charges fees and commissions mainly for Premium account holders trading forex pairs, spot metals, and cryptocurrencies:

Forex and Spot Metals:

• Commission Rates: Start at $35 per million USD traded.
• Specific Rates: EUR/USD at $35 and Gold at $60 per million.

Cryptocurrencies:

• Commission: Starts at 0.1% of the position value.
• Calculation: Based on the base currency trade size, adjusted for the USD exchange rate, and converted into the account’s currency.

Swap Fees:

• Timing: Charged daily at 22:00 GMT.
• Variation: Can be positive or negative based on trade direction and interest rates.
• Calculation: Calculated daily with a one-day rollover, except on Wednesdays, when a three-day charge applies to cover the weekend.

We conducted Skilling’s tariff policy and found that trading terms vary by account type and traded asset. Standard and MT4 accounts have no fixed commission, but spreads start from 0.7 pips for currency pairs. Premium and MT4 Premium accounts have a fixed commission with a spread of 0.1 pip, ranging from $35-50 for a trading turnover of $1 million, considering leverage. There are no commissions for depositing or withdrawing money.

Skilling Pros and Cons

Pros	Cons
No fees for adding or withdrawing money.	Maximum leverage of 1:30 for inexperienced traders. Leverage on cryptocurrencies is reduced to 1:2.
No limits on the amount or number of requests.	High spreads on standard accounts.
Insurance fund available in case of emergencies, bankruptcy, or fraud.
Professional platform for manual trading and classic platforms for trading with expert advisors.
Access to high liquidity levels, preventing slippage and sudden increases in trading commissions.
Over 750 fund assets, including indices.

Regulation and Security

Trading with a regulated broker helps prevent fraud and malpractice. We always advise traders to check if a broker is regulated and verify their license with the regulator’s database. Skilling provides clients with two well-regulated entities. The broker is licensed by regulators in Cyprus (CySEC) and Great Britain (FCA).

The company follows the European MiFID Directive requirements, offering increased leverage only to qualified investors, a maximum leverage of 1:2 on cryptocurrencies, and making annual contributions to the compensation fund. If an investor’s rights are violated, they can file a complaint with the regulator and ombudsman at the place of registration.

Account Types

Skilling offers two types of accounts: Standard and Premium. Each type is further divided based on the platforms. You can choose either Standard or Premium accounts for MT4 or for cTrader/Skilling Trader platforms.

Standard Class includes Standard and MT4 accounts. The minimum deposit is 100 euros, and the spread starts at 0.7 pips. The Standard account on cTrader and Skilling Trader platforms offers the most stock assets.

Premium Class includes Premium and MT4 Premium accounts. The minimum deposit is 5,000 euros, and the spread starts at 0.1 pip, with a commission starting at $35 for a turnover of $1 million.

Trading Platforms

Skilling provides traders with the MT4 trading platform, the ECN alternative cTrader, and its own Skilling Trader. Skilling created Skilling Trader to work with cTrader, which is a unique approach. Since the asset selection differs between MT4 and cTrader, we recommend cTrader for traders who need a broader range of assets. Skilling offers over 200 trading instruments on MT4 and over 800 on cTrader and Skilling Trader.

Both MT4 and cTrader are available as desktop clients, web-based versions, and mobile apps. Skilling Trader is not available as a desktop version.

Deposits and Withdrawals

You can use Visa/Mastercard, Neteller, Trustly, Klarna, Skrill, Swish, AstroPay, FasaPay, Directa, UnionPay, and Transact World to make deposits and withdrawals. The broker partners with over 15 payment systems.

There are no fees for withdrawals, and deposits are free. However, some payment systems might charge commissions, which the broker does not cover. In some cases, the broker might charge a commission of up to 2.9% for deposits or withdrawals made through Skrill or Neteller.

The minimum withdrawal amount is 50 units, depending on the payment system, usually starting from 50 euros.

Withdrawals to electronic systems or e-wallets take up to 1 working day to process, while withdrawals to bank payment systems take 2-7 days.

Research and Education

There is no specific research provided, but traders can check out the MAM/PAMM account or the copy trading feature in MT4/cTrader. MT4 offers thousands of EAs for traders to explore and see if they fit their trading style. Additionally, traders can find many free research resources online.

Skilling provides a wide range of educational resources, including video tutorials on trading Forex, Bitcoin, CFDs, commodities, and stocks. There are also videos on trading strategies like social trading and market analysis. These materials cover various topics to help traders start easily and improve their trading skills.

Customer Support

You can reach customer support from Monday to Friday between 04:00 and 22:00. Skilling explains its products and services well and makes sure everything works smoothly, so traders probably won’t need much support. Skilling offers help in several languages, including English, Spanish, German, Chinese, French, Italian, Portuguese, Romanian, Thai, and Vietnamese. You can contact support by email at support@skilling.com or by phone at +357 22 276710 and +44 208 080 6555. We suggest checking the FAQ section before contacting support. For non-urgent questions, use live chat. For urgent issues, phone support is available.

Conclusion

Skilling is a newer company in the market, but it can be trusted. However, after looking at the trading opportunities Skilling offers and reading client reviews, we suggest users consider a more reliable broker with better conditions. 

FAQs

What is the minimum and maximum leverage for traders on Skilling?

Retail traders can use leverage up to 1:30, while professional traders can use leverage up to 1:200.

What is the minimum deposit for Skilling?

For Standard accounts, the minimum deposit is $100.

Is Skilling legit?

Yes, Skilling has licenses from two regulators and operates in four countries, making it a legitimate and trustworthy broker.