Skilling Review

Author By Jeffrey Cammack
Updated: September 23, 2021
Overall Rating
3.92 3.92 / 5
Rated #44 of 68 Recommended Brokers
Min. Deposit
USD 100
Regulators
Trading Desk
Trading Cost
USD 7
Website Language
English, Swedish, Malay, Portuguese, Chinese
Support Language
English, Swedish, Malay
AlertAccepts South African Clients. Average spread EUR/USD 0.70 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 and cTrader platforms supported. Skilling is regulated by CySEC and the FSA-Seychelles.

TradeForexSA follows a strict editorial standard in our review process. We may receive compensation when you click on links to products we review. Please read our advertising disclosure.

Summary

Founded in 2018, Skilling is a CFD broker offering excellent trading conditions on Forex, crypto, indices, commodities and over 700 equities. With two simple account types, Skilling supports MT4, cTrader and its own trading platform which integrates directly with cTrader – an industry first. Compared to other market makers, Skilling offers very tight spreads – starting at 0.7 pips on its commission-free Standard Account.

Regulated by CySEC in Europe, Skilling is also regulated by the Seychelles FSA for customers in the rest of the world. Beginner traders will be disappointed to know that Skilling’s Forex education and market analysis are almost completely absent.  

Reviews

Regulation
1110.503.5/ 5
Trading Conditions
111115/ 5
Trading Platforms
11110.54.5/ 5
Deposit & Withdrawal
11110.54.5/ 5
Education & Research
10.50001.5/ 5
Assets Available
111104/ 5
Customer Service
1110.503.5/ 5
Beginner Friendly
Standard
Bonuses
None

Account Information

Base Currencies
USD, EUR, GBP
Number of FX Pairs
70
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Min. Spread
0.70 pips
Commission
Fees Included in Spread
EUR/USD
0.2 pips
GBP/USD
0.4 pips
USD/JPY
0.4 pips
Max. Leverage
500:1

Company Details

Company Name
Skilling (Seychelles) Ltd
Founded
2018
Website
Office Locations
Cyprus, Malta, Spain

Pros

  • Copy trading accounts
  • Tight spreads
  • Great platform choice

Cons

  • No swap-free account option
  • Limited education

Skilling Header

Is Skilling Safe?

Skilling is a Scandinavian-owned broker founded in 2015 that has been offering services across Europe since 2018 and worldwide since April 2020.

Skilling is currently regulated by CySEC in Europe and the Seychelles FSA across the rest of the globe:

  • Skilling Ltd, is regulated by the Cyprus Securities and Exchange Commission (CySEC) under CIF license No. 357/18
  • Skilling (Seychelles) Ltd, is authorized and regulated by the Financial Services Authority (FSA) under license No. SD042

All client funds are fully segregated from Skilling’s own funds and kept in separate bank accounts in major European banks. This ensures that client funds cannot be used for any other purpose. In addition, all clients – no matter where they live in the world – are provided with negative balance protection.

Along with regulation from CySEC and the FSA, Skilling also recently obtained an FCA branch authorisation in early 2020 and has opened a representative office in London.

While Skilling does not put itself in the running to receive awards from the wider industry, we can confirm that this is a safe broker to trade with. CySEC regulation, FCA authorisation and FSA regulation ensure a fair and safe environment for traders around the world, this is further supported by negative balance protection being provided for all traders.

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Group Regulators
Trading Desk
Website
Year Founded
Office Locations
Additional Fees
CySEC
FSA-Seychelles
Market Maker
2018
Cyprus, Malta, Spain
No

Skilling Trading Conditions

While Skilling does take its spreads from a network of liquidity providers, its order execution policy states that it always acts as counterparty to client trades, the definition of a market maker broker. While this does allow for fast execution speeds, it also allows Skilling to offer market prices and variable spreads.

Skilling offers some of the best trading conditions available for a market maker broker. These improve further on its Premium Account, which provides raw spreads direct from liquidity providers in exchange for a commission.

Skilling Leverage

Skilling offers maximum leverage of 500:1, though this is conditional on Skilling’s dynamic leverage model. The more open positions you hold, the lower the maximum leverage you will be offered. If you have more than 15 million USD in open positions, you will be offered a maximum leverage of 50:1.

Skilling Account Types

Skilling offers two account types: The Standard Account and the Premium Account. While most trading conditions remain the same across the two accounts, the Standard Account has wider spreads and a lower minimum deposits, while the Premium Account has a much higher minimum deposit, very tight spreads and charges a commission per 10 lots traded.

On both accounts, Skilling offers 73 FX pairs, 10 crypto pairs, 17 indices, 5 commodities and over 700 equities to trade. Hedging and scalping are also allowed on both accounts

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Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
Premium
EUR 5000
500:1
0.10
3.5 USD/ lot
Account Details
Standard
EUR 100
500:1
0.70
None
Account Details

Standard Account: The Standard Account requires a minimum deposit of 100 USD, offers a maximum leverage of 500:1 and is available through the Skilling Trader platform, MT4 or cTrader. Spreads here start at 0.7 pips but are wider on average. No commission is charged.

Premium Account: The Premium Account is a commission-based, raw spreads account, with spreads starting at 0.1 pips, but a 35USD/10 lot trading commission charged. Leverage is also 500:1 but the minimum deposit is 5000 USD, so this is probably not an account for beginner traders.

Skilling Account Types

Spreads and Commission

Spreads at Skilling are tight, even on the Standard Account. Average spreads on the EUR/USD are 0.9 pips, with a minimum of 0.7. Similarly, the spread on the USD/JPY averages at 1.5 pips, with a minimum of 1 pip.

Skilling EURUSD Spread

On the Premium Account, spreads on the EUR/USD average 0.2 pips, with a minimum spread of 0 pips. Average spreads on the USD/JPY is 0.5 pips, with a minimum of 0 pips. The Premium Account also has a trading commission. Commission starts at 3.5 USD per lot per side traded for the EUR/USD (7USD round-turn). This increases to 4 USD on the GBP/USD and 5 USD for all other Forex pairs. If the base currency of the account is other than USD, the charge is converted to the respective currency.

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
111115/ 5
USD, EUR, GBP
0.70 pips
USD 7
0.2 pips
0.4 pips
0.4 pips
0.0
11110.54.5/ 5
EUR, GBP, USD, AED, RUB
1.20 pips
USD 12
0.2 pips
0.8 pips
0.6 pips
0.0
111104/ 5
EUR, USD
1.10 pips
USD 11
0.4 pips
0.4 pips
0.4 pips
0.0

 

Skilling Commission

Deposit and Withdrawal

Skilling offers a range of deposit and withdrawal methods and charges no fees for either type of transaction. Be aware that your bank or card issuer may charge you for international transfers.

Deposits and withdrawals can be made via:

  • Visa/Mastercard: USD/EUR only. No fees for deposits or withdrawals. Minimum deposit of 100 USD, minimum withdrawals of 50 USD. Deposits are instants, withdrawals are completed within 1 working day.
  • Trustly: USD/EUR/GBP/NOK/SEK only. No fees for deposits or withdrawals. Minimum deposit of 100 USD, minimum withdrawals of 50 USD. Deposits are instants, withdrawals are completed within 1 working day.
  • Skrill/Neteller: USD/EUR/GBP only. No fees for deposits or withdrawals. Minimum deposit of 100 USD, minimum withdrawals of 50 USD. Deposits are instants, withdrawals are completed within 1 working day.

Skilling also offers a range of other payment options including Klarna, swish, fasapay, WalaoPay, PayR, PayTrust88, pagsmile, directa24 and NganLuong.vn. These all have broadly similar deposit and withdrawal terms.

Skilling for Beginners

While Skilling is very transparent and describes its product line-up in great detail, it offers little in the way of education or market analysis. This may be problematic for beginner traders – or those who like to receive regular analysis of their favoured markets and assets.

Education Material

Education is limited to a short section titled What is CFD Trading? This covers the basics of how contracts for difference function, with brief explanations of leverage, margin, and CFD costs.

Skilling’s own trading platform, Skilling Trader, also features the Skilling Trade Assistant – which is designed to explain the trading basics and help you place your first trade.

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Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
None
Low
Medium

 

Analysis Material

Skilling seems to offer nothing in the way of market analysis, either through third parties or in-house. While analysis is available through the trading platforms on offer, do not expect Skilling to provide regular updates on the markets.

Customer Support

Customer support is available via phone, live chat, and email in English, Swedish, Norwegian or German. Phone support is available from 0800-1700 CET, Monday to Friday and live chat is available from 0800-2200 CET, Monday to Friday.

Skilling Trading Platforms

Skilling supports a good range of trading platforms, including the proprietary Skilling Trader, MT4 and cTrader. In an industry first, Skilling has also completed seamless integration between Skilling Trader and cTrader, a unique feature dubbed One Account. Two Platforms. This allows traders to choose which platform they wish to use while having a single trading account, with the same margin, same wallet, and same trading conditions.

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Broker
Platform Choice
Copy Trading
Platforms
11110.54.5/ 5
11110.54.5/ 5

 

Skilling Trader

Skilling Trader is Skilling’s proprietary trading platform. Designed to be intuitive and simple, but with a full suite of technical indicators and drawing tools, Skilling Trader is built to appeal to traders of all experience levels. With full integration with Skilling’s cTrader platform, web and mobile support and a trade assistant for beginners, the Skilling Trader platform is flexible enough to satisfy most traders.

cTrader

cTrader is an advanced trading platform designed specifically to work with market execution accounts. As mentioned previously, Skilling is unique in that it has teamed up with Spotware, cTrader’s creators, to seamlessly integrate cTrader with Skilling’s own trading platform.

cTrader is a modern, intuitive, and powerful trading platform with advanced trading capabilities, such as fast entry and coding customisation, as well as a variety of indicators to help you make better trading decisions. It includes a complete charting package and Spotware hosts a library of indicators and robots, traders can also design their own algorithms using the Automate Editor.

MetaTrader 4 (MT4)

MT4 is only available for Skilling clients with Standard Accounts.

The MT4 trading platform is the most widely used Forex trading platform and can also be used to trade other instruments like commodities, cryptocurrency, stock index, and stock CFDs. Though it is now showing its age, MT4 is still popular for its auto trading features that enable algorithmic trading and strategy back testing with expert advisors (trading robots).

Skilling Mobile Apps

All three trading platforms are available on both Android and iOS devices.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the Skilling offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. Skilling would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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.

Overview

Skilling is a leader of a new wave of brokers we have seen cropping up in the last few years. Two simple account options, excellent trading conditions and a completely transparent approach are all hallmarks of a refreshingly client-focused business model. Free deposit and withdrawals, a responsible approach to leverage and a good range of trading platforms are all very welcome too. The lack of any serious educational section or market analysis is a disadvantage, though this will not matter much to experienced traders. We would also like to see longer customer service hours and a lower minimum deposit for the Premium Account.

AlertAccepts South African Clients. Average spread EUR/USD 0.70 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 and cTrader platforms supported. Skilling is regulated by CySEC and the FSA-Seychelles.
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Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
1110.503.92/ 5
USD 100
Market Maker
Forex
Indices
Commodities
Stock CFDs
Cryptocurrencies
70
5
  • Copy trading accounts
  • Tight spreads
  • Great platform choice
  • No swap-free account option
  • Limited education
1110.503.5/ 5
111115/ 5
11110.54.5/ 5
11110.54.5/ 5
10.50001.5/ 5
111104/ 5
1110.503.5/ 5
69% of retail investor accounts lose money when trading CFDs with this provider
500:1
0.70 pips
Premium
Standard
Visa
Mastercard
Skrill
Neteller
Klarna
Swish
Trustly
Fees Included in Spread
11110.54.18/ 5
USD 100
Market Maker
Commodities
Cryptocurrencies
Forex
Indices
Stock CFDs
70
5
  • Well regulated
  • Wide range of assets
  • Good range of accounts
  • Fast and free withdrawals
  • Limited currency pairs
111104/ 5
11110.54.5/ 5
11110.54.5/ 5
111104/ 5
1110.503.5/ 5
11110.54.5/ 5
111104/ 5
74% of retail investor accounts lose money when trading CFDs with this provider
500:1
0.20 pips
Classic
Fixed
Islamic Fixed
Raw
Bank Transfer
Visa
Mastercard
Skrill
Neteller
WebMoney
Bitcoin
8 USD / lot - Raw Account
11110.54.02/ 5
USD 50
ECN/DMA
Cryptocurrencies
Forex
Indices
Metals
32
4
  • Great platform choice
  • Fast and free withdrawals
  • Copy trading accounts
  • Limited education
  • Restrictive account types
1110.503.5/ 5
111104/ 5
11110.54.5/ 5
111115/ 5
1110.503.5/ 5
111104/ 5
111104/ 5
0 of retail investor accounts lose money when trading CFDs with this provider
500:1
0 pips
cTrader ECN
MT4 Micro
MT5 Pro
Visa
Skrill
Neteller
Bitcoin
Fasapay
Bank Transfer
6 USD / Lot - cTrader ECN
Visit Broker

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