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4 Best Skrill Forex Brokers for 2024

Searching for the top forex broker accepting Skrill? Based on our hands-on analysis, we’ve identified the 4 best options tailored to various trading needs. Practical tips from our experts are included.

By:
Vladimir Zernov
Reviewed By:
Ola Alder
Updated: Mar 6, 2024

List of Top Skrill Forex Brokers

Top-tier regulation. Competitive spreads. MT4, MT5, cTrader. Trading Central, Autochartist. Free VPS.

Best execution policy. MT4, MT5, cTrader, IRESS. VPS hosting. 13,000+ instruments. Competitive spreads.

Competitive spreads for forex and commodities. MT4/MT5, AvaTrade Web platform, AvaTradeGO. AvaProtect risk management tool. Trading Central.

Global presence and strong reputation. Proprietary WebTrader platform and mobile app. +Insights analytical tool. 2,800+ tradable instruments.*

*82% of retail CFD accounts lose money.

How Did FX Empire Select the Best Forex Brokers Accepting Skrill?

FXEmpire's Methodology

  • We chose only brokers that offer Skrill for deposits and withdrawals.
  • We focused on brokers that do not have deposit and withdrawal commissions.
  • We selected brokers that offer various currencies for Skrill deposits.
  • We preferred brokers with minimum Skrill transaction times.
  • We chose trustworthy brokers with top-tier regulations that ensure traders with a high level of protection.
  • We focused on brokers that generally offered low fees, including spreads, commissions, swas, and non-trading fees.
  • We prioritized brokers that provided user-friendly and feature-rich platforms.

Our team of experts has identified each broker’s strengths and weaknesses using FX Empire’s comprehensive methodology. I subsequently used my 16 years of forex trading experience to examine and analyze all our findings, resulting in the selection of the best Skrill forex brokers across various categories. You can read more about it and how we conduct our tests here.

Now, let’s explore the selected brokers.

Best Overall

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
  • Min Deposit
    $200
  • Tradable Instruments
    2251
  • Fees
    Low

Founded in 2007, IC Markets has built a name for itself in the trading world. Regulated by ASIC, CySEC, and FSA Seychelles, the broker provides a balanced offering with a solid choice of tradable instruments – from forex and commodities to stocks, indices, and cryptocurrencies.

Skrill Features:

  • Accepted currencies: AUD, USD, JPY, EUR, SGD, GBP
  • Deposit fees: No
  • Withdrawal fees: No
  • Time for deposit processing: Instant
  • Time for withdrawal processing: 24 hours

From my research, IC Markets offers competitive spreads for various instruments and does not charge inactivity or withdrawal fees. In addition to Skrill, the broker offers an extensive range of withdrawal and deposit options.

IC Markets’ clients can choose between MetaTrader 4, MetaTrader 5, and cTrader platforms. The broker provides in-house research, as well as popular third-party tools such as Trading Central and Autochartist. Traders also have access to free VPS.

Our analysis reveals that IC Markets boasts competitive pricing across both its Standard and Raw Spread accounts. Take the EUR/USD pair in the Standard Account, where spreads hover between 0.6 and 0.7, or the GBP/JPY pair with a spread of 2.2. The broker’s commission rates in the Raw Spread account are also attractive. Plus, IC Markets skips any account maintenance or inactivity fees, adding to its cost-effectiveness.

Pros
  • Competitive spreads and commissions
  • A wide range of cryptocurrencies to trade on
  • Multiple trading platforms and solid research tools
  • Free VPS hosting
Cons
  • No proprietary platform

Best for Professional Traders

Contracts for Difference (CFDs) are leveraged over-the-counter derivative products and carry a high level of risk to your capital. You should only risk capital that you can afford to lose. In certain circumstances, due to fluctuations in market value you may not get back your initial investment amount. You may not only lose your initial investment but you may incur a liability to pay a further amount to cover losses. This means you can lose more money than you have invested.
  • Min Deposit
    $100
  • Tradable Instruments
    8977
  • Fees
    Low

FP Markets has earned its reputation as a stalwart in the online trading arena, and it’s easy to see why. Launched in 2005 with its headquarters in Australia and a global footprint, the broker provides traders with a selection of over 800 financial instruments across diverse markets. Coupled with top-notch order execution and regulations of CySEC, ASIC, and FSCA, FP Markets offers a compelling package of benefits for traders.

Skrill Features:

  • Accepted currencies: EUR, USD, GBP
  • Deposit fees: No
  • Withdrawal fees: 1% + country fees (if applicable)
  • Time for deposit processing: Instant
  • Time for withdrawal processing: 1 business day

My research indicated that FP Markets provides a wide range of tradable instruments, including a huge stock offering, which is available via an IRESS account. The IRESS platform is a powerful tool for professional traders that provides access to thousands of stocks and offers extensive technical analysis capabilities. Besides that, broker’s clients also have access to the popular MetaTrader 4, MetaTrader 5, and cTrader. Furthermore, FP Markets offers VPS hosting, which is important for algorithmic traders.

During my test, I discovered that FP Markets offers mid-to-low spreads compared to the broader industry. For example, EUR/USD spreads typically fall between 1.0 and 1.2, while GBP/JPY spreads range from 1.5 to 1.9. The broker does not charge an inactivity fee.

Pros
  • 13,000+ instruments
  • Competitive spreads
  • Commission-free trading available
  • VPS hosting
Cons
  • No proprietary platform

Best Low Spreads

Trading CFDs and FX Options entail risk and could result in the loss of your capital.
  • Min Deposit
    $100
  • Tradable Instruments
    853
  • Fees
    Medium

Founded in 2006, AvaTrade is regulated by multiple authorities including CySEC, ASIC, and FSA Japan.. The broker provides access to over 1,250 financial instruments, including unique offerings like bonds and forex options, with competitive prices

Skrill Features:

  • Accepted currencies: USD, EUR, GBP, AUD
  • Deposit fees: No
  • Withdrawal fees: No
  • Time for deposit processing: 24 hours
  • Time for withdrawal processing: 24 – 48 hours

Our testing showed that AvaTrade’s forex and commodities fees are generally lower than the industry average. For instance, the EUR/USD spread averages around 0.9, and the WTI oil spread is about 0.03. However, spreads for indices and stocks were found to be higher during our live tests. For example, Dow Jones index spreads were between 5 and 6, and the Tesla stock spread averaged at 1.98.

AvaTrade offers a variety of trading platforms, including the well-known MetaTrader, the user-friendly AvaTrade Web platform, and the AvaTrade GO mobile app. The broker also gives access to a popular research tool Trading Central and AI-powered trading signals for generating trading ideas.

A standout feature is AvaTrade’s AvaProtect, a risk management tool available exclusively on proprietary platforms. This tool allows traders to shield their trades from losses for a fee, making it a valuable resource for both beginners and advanced traders to enhance their risk management strategies.

Pros
  • Competitive spreads
  • 1,250+ tradable instruments
  • A solid selection of trading platforms
  • Strong research and educational offering
Cons
  • Investor compensation scheme is not available in all regions

Best Trading Platform

CFD Service, 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
  • Min Deposit
    $100
  • Tradable Instruments
    2047
  • Fees
    Medium

Operating under stringent regulatory oversight, Plus500 offers traders peace of mind along with competitive spreads. Founded in 2008, the broker has multiple regulations, including CySEC, FCA, and MAS, and is listed on the London Stock Exchange. Plus500 has created one of the most user-friendly platforms on the market and offers trading in forex, commodities, stocks, indices, ETFs, and cryptocurrencies (availability subject to regulation).

Skrill Features:

  • Accepted currencies: USD, EUR, GBP, AUD, JPY, SGD
  • Deposit fees: No
  • Withdrawal fees: No
  • Time for deposit processing: Instant
  • Time for withdrawal processing: 1 business day

Plus500 has developed an in-house WebTrader Platform, which offers a pleasing layout, easy-to-understand order entry, and robust charting tools. Traders can use over 100 technical indicators, as well as classic drawing tools like Fibonacci retracement levels. In addition to the web-based platform, Plus500 created a mobile app, which is available for iOS, Android, and Windows.

Positional traders are likely to appreciate the +Insights analytical tool provided by Plus500. It shares data on what traders at Plus500 are buying and selling, allowing users to gauge market sentiment. I find this tool provides highly valuable insight.

When it comes to fees, our analysis shows that Plus500 offers a range of pricing, from moderate to highly competitive, depending on the trading instrument you choose. For instance, we observed that the spreads for the EUR/USD pair stood at a relatively narrow 0.8, which is relatively tight (spreads are dynamic and subject to change).

Pros
  • Multiple regulations around the world
  • A user-friendly and intuitive trading platform
  • Innovative tool +Insights
  • A wide range of tradable instruments
Cons
  • No phone support

How to Choose A Broker Accepting Skrill Payments?

Use our guide to define the best-suited forex broker that accepts Skrill deposits and withdrawals according to your trading goals.

How to choose a safe broker that accepts Skrill?

The process of choosing a broker begins with learning where your potential broker is regulated. Brokers that offer Skrill for deposits and withdrawals are regulated by top-tier regulators, as well as offshore regulators. In our research, we divide regulators into three tiers: Tier-1, Tier-2, and Tier-3.

  • Tier-1 regulators have strict oversight and impose certain limits on services offered to retail clients (for example, the leverage for retail clients is usually limited at 1:30). Such regulators usually provide access to investor compensation schemes. They also demand that brokers provide negative balance protection and keep clients’ funds in segregated accounts. Tier-1 regulators include CySEC, ASIC, and UK FCA.
  • Tier-2 regulators also offer strict oversight but usually do not limit leverage for retail clients. In addition, investor compensation schemes are typically not available at Tier-2 regulators. FSCA is a good example of such a regulator.
  • Tier-3 regulators are offshore regulators that do not impose limits on leverage for retail clients and do not provide access to compensation schemes. FSA Seychelles and FSC Mauritius are among Tier-3 regulators.
  • Unregulated brokers operate without oversight from any formal financial regulatory authority. Unlike regulated brokers, which have to comply with rules and guidelines set by financial bodies to ensure transparency and protection for traders, unregulated brokers are not bound by such requirements. Trading with an unregulated broker carries a high level of risk, including the potential for financial loss, fraud, or scams.

Read more about best CySEC-regulated brokers and best BaFin-regulated brokers.

Traders should prioritize essential safeguards such as negative balance protection, segregated funds, and compensation funds, all of which offer reassurance in case of financial issues. Traders should note that offshore regulators do not impose strict limits on leverage, allowing traders to access high levels of leverage but offer lower levels of protection. You should be aware that compensation schemes may not be available. Consequently, if a broker faces financial difficulties, traders will have to navigate the situation independently.

Read more about Best regulated forex brokers.

What fees should you focus on when choosing the broker?

Typically, brokers charge spreads, commissions, swap/rollover fees, and inactivity fees.

The spread is the difference between the bid and the ask price. The higher the spread, the more you pay for the trade. In our rating system, we deem spreads below 1 pip for EUR/USD and 3 pips for GBP/JPY to be low.

  • A commission is a fixed cost of entering the trade. Accounts that charge commissions usually offer lower spreads. For example, commissions below $3 for forex pairs and gold are considered low.
  • A swap/rollover fee is charged when you hold a leveraged position overnight. Traders should pay extra attention to these fees if they plan to use swing trading strategies, which involve holding positions for several days or even weeks. A swap rate below 0.5 pips for forex pairs is considered favorable.
  • A broker imposes an inactivity fee when an account remains dormant for a specified period. In this case, a certain amount of money is charged monthly. An inactivity fee below $10 is considered to be low.

Check out our lists of Best lowest spread forex brokers and Best low swap fees brokers.

How to choose the right account for trading?

It’s crucial to understand the difference between various types of accounts.

  • Demo accounts are used for practice without risking real money. Such accounts should be used by novice traders making their first steps in trading. Read more about Best forex demo accounts.
  • Spread-based accounts typically charge spreads and swap/rollover fees. These accounts are usually a good choice for traders whose trading volume is expected to be relatively modest. Discover Best STP forex accounts.
  • Commissions-based accounts charge commissions in addition to spreads and swap/rollover fees. Usually, spreads are tight in such accounts. These accounts are suitable for traders whose trading volume is expected to be high. Explore Best ECN forex accounts.
  • On Islamic accounts, swap/rollover fees are not charged to ensure compliance with Sharia law. Discover Best forex Islamic accounts.
  • Professional accounts usually have a high minimum deposit and offer access to high leverage that most professional traders are looking for.

How to choose a trading platform?

Typically, most brokers offer access to MetaTrader 4 and/or MetaTrader 5. Those are sophisticated platforms with a variety of tools tailored mainly for experienced traders. Hence, beginners may need to spend some time learning the ropes.

Some brokers have also developed their own in-house trading platforms. These platforms are usually tailored to the needs of traders at various experience levels. They are easy to navigate and simple to use.

The choice of trading platform largely depends on personal preferences and trading experience. In my opinion, for novice traders, it’s better to start with a user-friendly platform or a mobile app, whereas experienced traders would often prefer MT4/MT5.

Check out our dedicated guides on best forex platforms, best MT4 brokers, and best MT5 brokers.

What leverage is available for traders?

Leverage provides traders with the opportunity to boost their profits through the use of borrowed funds. The higher the leverage, the greater your potential profits may be. However, leverage can be a double-edged sword, as it can also magnify potential losses. Thus, I would advise beginners to start with low levels of leverage to avoid the risk of substantial losses.

The maximum potential leverage a broker can offer is determined by the regulator. Skrill forex brokers have entities that are regulated by offshore regulators that do not impose specific limits on leverage for retail clients. Thus, the leverage can be as high as 1:3000. Note that it’s necessary to consider your risk tolerance and trading strategy before engaging in high-leverage trading. Additionally, traders should be aware that offshore regulators offer fewer protections.

Read more about Best high-leverage forex brokers.

What to avoid when choosing a broker?

Based on my trading experience, I have outlined the five things to avoid when choosing a broker:

  • Neglecting to verify regulatory compliance.
  • Overlooking broker fees, such as spreads, commissions, and swap rates.
  • Selecting an account type that does not align with your requirements.
  • Skipping to review the range of instruments provided by the broker.
  • Avoiding straight communication with the support team before opening an account.

How to avoid forex scams?

To safeguard yourself against forex scams, follow these essential guidelines:

  • Research and choose a reputable broker: Conduct thorough research to identify a broker with a solid reputation and a history of regulatory compliance. Verify its credentials and look for reviews or testimonials from reliable sources.
  • Check the regulatory status: Ensure that the broker you selected is regulated by a recognized financial authority. This oversight provides a decent level of protection and ensures adherence to industry standards.
  • Be cautious of unrealistic promises: Beware of brokers or investment schemes that promise guaranteed high returns or low-risk opportunities. Forex trading involves inherent risks, and legitimate brokers will not make unrealistic claims.
  • Avoid unregulated entities: Steer clear of unregulated brokers or those operating from offshore jurisdictions with weak regulations. Regulatory oversight helps protect your funds and ensures fair trading practices.
  • Understand the terms and conditions: Read and comprehend the broker’s terms and conditions, including fee structures, withdrawal policies, and any potential hidden costs. Beware of brokers that make it difficult to access or withdraw your funds.
  • Use secure payment methods: Choose reputable payment methods that offer additional security layers, such as bank transfers or established electronic payment systems. Avoid dealing with brokers that solely accept cryptocurrency or other non-traceable forms of payment.
  • Stay informed and educated: Continuously educate yourself about forex trading and stay updated on market trends and news. This knowledge will empower you to make informed decisions and identify potential scams.
  • Trust your instincts: If something seems too good to be true or raises suspicions, trust your gut instinct and exercise caution. Take the time to seek advice from trusted financial professionals or consult with experienced traders before making any decisions.

Our Methodology

FX Empire, with a history dating back to 2010, has established itself as a reputable authority in broker reviews. Our extensive experience in evaluating CFD brokers, spanning over a decade, has led us to develop a meticulous and comprehensive review strategy. Adhering to stringent guidelines for editorial integrity, we consistently uphold our commitment to deliver unbiased evaluations.

We follow a diligent protocol for our review process, integrating objective criteria and quantifiable data. This methodical approach allows us to generate a justified score that accurately reflects the performance of a broker. Our mission is to provide traders with thorough and unbiased reviews, empowering you to make well-informed decisions aligned with your specific needs.

To choose the best brokers for you, we rate them across nine categories and calculate a score that reflects their performance. The categories include:

  • Trust and Stability
  • Fees
  • Platform and Tools
  • Tradable Instruments
  • Account Types
  • Deposit and Withdrawal
  • Research
  • Customer Support
  • Education

We open accounts, test platforms, measure spreads, and chat with support teams to collect as much data as possible for each broker. Overall, we evaluate brokers based on more than 250 distinct data points. Every category receives a rating from one star (weak) to five stars (excellent). The broker’s total score depends on its performance in each of these nine categories.

We highlight each broker’s strengths and weaknesses, explain regulatory details, and share the results of our live tests of brokers’ fees, customer support, and trading platforms. To learn more about our review process, click here.

For this guide, we included only the brokers that support both deposits and withdrawals via Skrill, eliminating any deposit and withdrawal commissions. Diversity of choice is crucial, so we also favored brokers that offer multiple currency options for Skrill transactions. Speed is of the essence in trading, prompting us to lean towards brokers with minimal Skrill transaction times.

Meet our Writers

The team of forex and CFD writers and editors at FXEmpire is composed of trading industry professionals and seasoned financial journalists. Our writers have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.

Get to Know Our Authors

Dan BlystoneBroker Analyst

Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.

Jitan SolankiBroker Analyst

Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.

Plamen StoyanovBroker Analyst

Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.

Vladimir ZernovBroker Analyst

In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.

Skrill is a digital payment service that allows for secure online money transfers and payments. It's commonly used for trading, online shopping, and international remittances. Skrill is popular among forex traders for its speed and low transaction fees.
To fund a forex account with Skrill, log into your broker's platform and navigate to the deposit section, selecting Skrill as your payment method. After entering the deposit amount, you'll be redirected to Skrill's login page to confirm the transaction. Once approved, the funds usually appear in your trading account within minutes.
To withdraw funds from your forex account using Skrill, head to the withdrawal section of your broker's trading platform and select Skrill as your preferred method. Input the amount you wish to withdraw and proceed to confirm the transaction. Once approved, the withdrawn funds should appear in your Skrill account, typically within a timeframe specified by your broker.
Fees for Skrill transactions can vary widely depending on the broker you're using. While some brokers offer free Skrill deposits and withdrawals, others might charge a flat fee or a percentage of the transaction amount.
The charges for Skrill transactions by forex brokers can vary, with some offering free deposits and withdrawals, while others may impose a fee ranging from 1% to 3% of the transaction amount.
Besides the typical transaction fees, some brokers might levy additional charges like currency conversion fees if your Skrill account and trading account are in different currencies. Others could impose withdrawal minimums, and if you don't meet these, a smaller withdrawal fee may apply.
Transaction limits for Skrill deposits and withdrawals with forex brokers can vary significantly. While some brokers have low minimum deposit and withdrawal requirements, such as $10 to $50, others may set higher minimums and maximums.
In many cases, deposits are processed instantly. Withdrawals often require approximately 1–2 business days.
Yes, clients generally have the flexibility to choose their preferred currency when using Skrill for forex transactions. However, it's important to note that currency selection might be limited to the options supported by both Skrill and your chosen forex broker.
Negative balance protection is a feature offered by some brokers that protects traders from incurring a negative account balance. In forex trading, it is possible to lose more money than you have in your account due to leverage, which magnifies gains and losses. With negative balance protection, the broker guarantees that the trader's account balance will never go below zero, even in the event of a sudden and significant market move that results in a large loss. If the trader's account balance falls to zero, the broker will close out their positions and absorb the loss, rather than requiring the trader to cover the negative balance.
To verify whether your broker has negative balance protection, you can review the terms and conditions of your account agreement, which should outline the broker's policy on negative balance protection. This information is usually available on the broker's website or can be obtained by contacting their customer support team.
A compensation scheme is a type of investor protection program that provides financial compensation to investors who have suffered losses as a result of a broker's insolvency, fraud, or other misconduct. Compensation schemes are designed to protect investors from financial harm and to promote confidence in the financial markets. In most countries, compensation schemes are established and regulated by the government or financial regulatory agencies. These schemes typically have specific eligibility requirements, such as a maximum level of compensation per investor or per claim, and may only cover certain types of financial instruments or transactions.
To verify whether your broker is a member of a compensation scheme, you can check their regulatory status and the terms and conditions of your account agreement. Compensation schemes are typically established and regulated by government or financial regulatory agencies, and brokers are required to be registered with these schemes to offer protection to their clients. You can also check the website of the compensation scheme in your country or region to see if your broker is listed as a member.
A segregated fund refers to the practice where brokers hold their clients' funds separate from their own operational funds. This is done to protect clients' funds in the event of the broker's bankruptcy or other financial difficulties.
To verify if a broker offers segregated funds, you can check their website, contact them directly, review their regulatory filings, look for independent reviews, or consult with a financial advisor.

About the Author

Vladimir ZernovBroker Analyst

In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.

Why you can trust FX Empire

At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.

Why you can trust FX Empire

FXEmpire was founded in 2011, making us one of the first forex broker review sites. You can trust FXEmpire because of our thorough and unbiased review process. With over a decade of experience, we have a team of industry experts who conduct rigorous tests to ensure our reviews are accurate and unbiased. Our reviews are designed to bring clarity and confidence to the process of choosing a broker, and are based on objective criteria and measurable data. Our editorial team is composed of trading industry professionals and seasoned financial journalists, who ensure that our reviews are accurate and unbiased. Additionally, our review system is based on 9 core categories and over 250 distinct variables, which ensures that all aspects of a broker are considered before giving a final rating. So, you can trust FXEmpire to provide you with honest and informative reviews that will help you make an informed decision on which broker will best enable you to reach your financial goals.