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Best Skrill Forex Brokers 2020

FX Empire Editorial Board
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Skrill is an excellent way to fund your forex trading account, but remember that not all brokers accept this payment method. Inside this article, we lay out the very best forex brokers in the market that accept Skrill. Our list is based on expert reviews and user ratings.

The Brokers below represent the best Skrill Forex Brokers

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BrokerRatingOfficial SiteRegulationsMin DepositMax LeverageTrading PlatformsFoundation YearPublicly TradedTrading Desk TypeCurrenciesCommoditiesIndicesStocksCryptoCommission on tradesFixed spreadsoffers promotionsOfficial Site
XTB
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75% of retail investor accounts lose money

BaFin, CNMV in Spain, CySEC, FCA, IFSC

$0

1:500

MT4, xStation 5

2002

STP

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75% of retail investor accounts lose money

First Prudential Markets Pty Ltd
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Your capital is at risk

ASIC, CySEC

$100

1:500

IRESS, MT4, MT5, webtrader

2005

No dealing desk

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Your capital is at risk

Pacific Financial Derivatives Ltd
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Your Capital is at Risk

FMA

$1

1:300

MT4

1999

ECN, STP

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Your Capital is at Risk

Plus500
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76.4% of retail CFD accounts lose money

ASIC, CySEC, FCA, FSB, ISA, MAS

$100

1:30

Plus500

2008

No dealing desk

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76.4% of retail CFD accounts lose money

FBS
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Your capital is at risk

CySEC, IFSC

$1

1:3000

MT4, MT5

2009

ECN, No dealing desk, STP

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Your capital is at risk

OctaFX
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Your capital is at risk

CySEC

$5

1:500

cTrader, MT4, MT5

2011

ECN, STP

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Your capital is at risk

FXTM
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90% of retail CFD accounts lose money

CySEC, FCA, FSC

$10

1:30

MT4, MT5

2011

No dealing desk

Visit Broker>

90% of retail CFD accounts lose money

Pro Tip: Most of these brokers offer free demo accounts so you can test the brokers and their platforms with virtual money. Give it a try with some play money before using your own cash.


Here’s a list of The Best Skrill Forex Brokers


Note: Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients.You can also visit our Stoke Brokers section.

XTB

Regulated By:BaFin, CNMV in Spain, CySEC, FCA, IFSC

Foundation Year:2002

Headquarters:Level 34, One Canada Square, Canary Wharf, E14 5AA, London, United Kingdom

Min Deposit:$0

Visit Broker

75% of retail investor accounts lose money

XTB are a serious contender if you are looking for an online place to trade stocks. You can trade over 1500 global stocks as CFD’s, take advantage of negative balance protection and a commissions as low as 0.08%, plus a trading leverage of 5 times. The broker offers trading on the award winning xStation 5 platform and the Metatrader 4.

Pros Cons
  • Amazing trading academy for all levels of trader
  • In depth market analysis, across all trade types
  • Crypto and ETF trading
  • FCA regulated for trader protection
  • No support on the weekends, even for cryptos
  • Low maximum leverage of up to 30 times on FX

FP Markets

Regulated By:ASIC, CySEC

Foundation Year:2005

Headquarters:Level 5, Exchange House 10 Bridge St Sydney NSW 2000, Australia

Min Deposit:$100

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Your capital is at risk

FP Markets is the brokerage arm of First Prudential Markets Pty Ltd, an Australian firm which was established in 2005. In over 14 years of brokerage operations, FP Markets has grown to become a foremost online forex and CFD broker.

The Head Office is located in Sydney, Australia. The brand has won multiple industry awards in areas like; customer service, trader education and trade execution. Here are some advantages of trading with FP Markets:

  • Over 10,000 trading instruments to choose from.
  • Modern trading platforms.
  • Low spreads on forex currency pairs.
  • Regulated brokerage conditions.
  • Multilingual and efficient customer support

Pacific Financial Derivatives

Regulated By:FMA

Foundation Year:1999

Headquarters:Level 8, 12-26 Swanson Street, Auckland 1010, New Zealand

Min Deposit:$1

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Your Capital is at Risk

Pacific Financial Derivatives Ltd (PFD) is a global online broker that operates from Auckland in New Zealand. The broker was established in 1999 by an experienced Japanese investor who has a similar business in his native country. The brokerage offers Forex, indices and commodities for trading on its platforms. With many years experience in the business, PFD has become a globally established brand.

Pros Cons
  • Broker is regulated by the FMA in New Zealand.
  • Well-established broker with over 15 years experience.
  • Low trading fees and charges.
  • The provided demo account expires after 15 days.
  • The education suite provided is obviously inadequate.
  • There are no bonuses, promotions or incentives to encourage the trader.

Plus500

Regulated By:ASIC, CySEC, FCA, FSB, ISA, MAS

Foundation Year:2008

Headquarters:Building 25, MATAM, Haifa, Israel

Min Deposit:$100

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76.4% of retail CFD accounts lose money

Sponsors of Atletico Madrid, Plus500 have made quite a name for themselves over the last few years. A UK FCA regulated firm Plus 500 is a subsidiary of Plus500 Ltd a company that is listed on the London Stock exchange. The company offers the trading of shares, forex, commoיעכdities, ETFs, options and indices across a selection of technology including the Plus500 proprietary platform.

Pros Cons
  • Leveraged trading of over 2500 financial instruments
  • Multiple regulations in different countries.
  • Tight spreads and no commissions.
  • Advanced risk management tools such as guaranteed stop and trailing stop orders.
  • No call centre to speak to
  • No educational tools
  • Very little analysis

FBS

Regulated By:CySEC, IFSC

Foundation Year:2009

Headquarters:N/A

Min Deposit:$1

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Your capital is at risk

FBS Markets Inc. is a Forex and CFD broker that offers its services across the globe. The company was established in 2009 and since then, the brand has grown in size, capacity and technology. It offers currency pairs, CFDs, stocks, metals and cryptocurrencies on MT4 and MT5 platforms.

FBS Markets offers 37 currency pairs, 4 metals, 3 CFDs, 4 cryptocurrencies and 32 stocks.

FBS provides the MT4 and MT5 trading platforms as WebTrader, desktop applications and mobile applications. For leverage accounts, this brokerage offers leverage of up to 3000:1.

Pros Cons
  • Broker is regulated by CySEC and the IFSC
  • Access to investor compensation in case of broker fraud
  • Comprehensive trader education
  • Good variety of research tools
  • Low capital requirements for account opening
  • Spreads are higher than many retail brokers
  • Regulation of global brand is not as robust as the EU brand
  • Leverage offered on global brand is too high (careful risk management is a must)

OctaFX

Regulated By:CySEC

Foundation Year:2011

Headquarters:Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines

Min Deposit:$5

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Your capital is at risk

OctaFX is a Forex and CFD trading platform with a focus on low, competitively priced spreads. It supports MT4, MT5, and cTrader trading platforms. cTrader offers the lowest costs but does require a bit more experience. Novice traders are best starting off at OctaFX using MetaTrader 4, which supports micro-accounts.

OctaFX supports 28 currency pairs, a smaller number than many competitors. You can get leverage up to 500:1 for currencies. Different leverage is available for metals, indices, and crypto trading. OctaFX was founded in 2011 and is based in and licensed in Saint Vincent and the Grenadines. 

Pros: Cons:
  • Low spread pricing
  • 3 different platforms and flexible pricing
  • Free Forex demo available
  • Just 28 currency pairs
  • Limited deposit options
  • Lost UK Financial Conduct Authority coverage in 2017

FXTM

Regulated By:CySEC, FCA, FSC

Foundation Year:2011

Headquarters:FXTM Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus

Min Deposit:$10

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90% of retail CFD accounts lose money

FXTM, short for ForexTime, is a platform with a primary focus on foreign exchange. That specialization allows it to rise above many others when it comes to Forex focused trading platforms and tools. CFDs are available on 50+ currency pairs including major, minor, and exotic pairs. Leverage is available up to 1000:1.

Spreads are competitive across all platforms with 24-hour trading open 5 days per week. FXTM is based in Cyprus and licensed by the International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission, and other regulators in and out of the EU. 

 Pros:  Cons:
  • Support for 250+ products to trade across global markets, including Forex, commodities, shares, indices and cryptocurrency CFDs
  • Competitive spreads
  • MetaTrader 4 and MetaTrader 5 platform support
  • Low maximum order size
  • No native Mac desktop app

What is Skrill?

Skrill is a money transfer service which makes simple, quick, and secure digital payment transfers. Formerly known as “Moneybookers”, they’ve served businesses of all sizes, and personal endeavours with their payment services since 2001. Skrill’s focus is on low cost international money transfers made possible through the internet. It’s an online wallet where you can store funds, transfer funds, and use it as a payment method for a variety of websites.

Why use Skrill as Your Deposit/Withdrawal Method?

The use of Skrill to deposit and withdraw funds in your forex account can be a beautiful thing. It is fast, easy, and secure. Skrill can be hooked up directly to your bank account, so once transferred into your Skrill account you have the option to hold it or transfer to your bank account. All your credit card and account details are stored with Skrill all in one place, so the only information you need to transfer, is your username and password- a lot less hassle. Also as a VIP member you can reap the benefits they offer, such as a security token, multiple currency accounts, and loyalty points.

Benefits of Choosing a Broker that Accepts Skrill

Brokers who accept Skrill have a great deal of benefits. For instance, the transaction speeds with many forex brokers accepting Skrill is generally instant. Having the ability to withdraw profits or make payments is an important benefit with Skrill forex brokers. Another benefit, many forex brokers accepting Skrill give their customers special discounts and bonuses. In addition to this, Skrill also offers promotions and discounts with various brokers as well. Another important benefit, there are a large amount of forex brokers accepting Skrill, which gives you more options to whey in on when choosing the perfect broker for you.

How To Pick A Decent Broker With Skrill?

There are many brokers who use Skrill, but not all of them are the same. So how do you choose which one is right for you and your trading strategy? Well first off, like choosing any kind of broker you must research and look into the rules and regulations. It is important to understand the deposit and withdrawal options. In some cases, companies claim to accept Skrill, but only accept card payments through Skrill’s payment gateway. Also, as mentioned earlier, it is important to know what kind of special offers, promotions, and discounts brokers and Skrill might be offering.

Skrill Chargeback on Broker Account

As far as chargebacks go, Skrill doesn’t have the best reputation. Not like PayPal, or credit cards anyways. A successful chargeback is somewhat of a rare instance and requires a sufficient amount of proof on your part. Skrill doesn’t really support chargebacks, and will not go out of their way to complete them. However it is possible with the right evidence of a fraudulent transaction, but they will not cater to you like Paypal and credit card companies.

Conclusion

So what is certain is that Skrill is a highly efficient and inexpensive way to fund a trading account. Based on the above factors we have compiled a list of the very best and most reliable orex brokers that accept this payment method.

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Trade With A Regulated Broker

  • Your capital is at risk