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Skilling Review 2020

Rate Skilling

Regulated By:CySEC

Foundation Year:2016

Headquarters:62 Athalassas Avenue, 2nd Floor, 2012 Strovolos, Nicosia, Cyprus

Min Deposit:$100

Open Account

73% of retail CFD accounts lose money.

Jitan Solanki

Last updated: Oct 26, 2020

At FX Empire, we stick to strict standards of a review process. Learn about our review process. FX Empire may receive compensation. Here’s how we make money.

“Skilling offers the ability to trade on more than 850+ financial CFD instruments covering Forex, Shares, Indices, Commodities and Cryptos from the globally recognised MetaTrader 4, cTrader and Skilling Trader platform for desktop, web and mobile.”

Skilling was founded in 2016 and is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA) of Seychelles. The broker is also the Official Partner of the Aston Villa Football Club.

Users can trade from two core types of trading accounts. The Standard Account offers commission-free trading with spreads from 0.7 pips. The Premium Account offers spreads from 0.1 pips with commission starting from $35 per million. Users can fund accounts from just 100 USD / EUR and the broker also offers professional accounts with zero commission for deposits and withdrawals.

Users can access more than 850+ financial CFD instruments covering Forex, Shares, Indices, Commodities and Cryptos. The broker provides the ability to trade from the globally-recognised MetaTrader 4, cTrader and Skilling Trader platform for desktop, web and mobile.

Pros:	Cons:
CySEC and FSA regulated. Commission-free trading available. 850+ CFD instruments to trade on. Multiple platforms are available. Good customer support.	Limited trader research but Skilling Academy offers some education resources.

General Information

Official Site:https://www.skilling.com

Demo:Open Demo Account

Regulated By:CySEC

Foundation Year:2016

Headquarters:62 Athalassas Avenue, 2nd Floor, 2012 Strovolos, Nicosia, Cyprus

Min Deposit:$100

Max Leverage:1:30

Publicly Traded:No

Deposit Options:Credit Card, Neteller, Skrill, Wire Transfer

Withdrawal Options:Credit Card, Neteller, Skrill, Wire Transfer

Tradable Assets:Currencies, Commodities, Indices, Stocks, Crypto

Trading Platforms:Proprietary

Commission on Trades:No

Fixed spreads:No

Trading Desk Type:No dealing desk

OS Compatibility:Web platform

Mobile trading:Android, iOS

Accepts US Clients:Yes

Rate Skilling

Skilling Video Review

Investor Protection & Regulations

“Skilling is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA) of Seychelles.”

Skilling Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission, as confirmed on the CySEC register below:

As such, this entity is bound by regulatory obligations to provide:

Segregated trading accounts, keeping client funds separate from their own.
Be a member of the Investor Compensation Fund (ICF).
Provide a negative balance protection policy.

Skilling (Seychelles) Ltd is authorised and regulated by the Financial Services Authority (FSA) of Seychelles, which we have confirmed on the FSA register. This entity also provides a negative balance protection policy.

Tradable Products

“Skilling offers users the ability to trade on more than 850+ financial CFD instruments covering Forex, Shares, Indices, Commodities and Cryptos.”

Skilling offers users the ability to trade on more than 850+ financial CFD instruments covering Forex, Shares, Indices, Commodities and Cryptos. Below is a list of just some of the available markets for trading:

Forex	Shares	Indices
EURUSD	Viacom	S&P 500
GBPJPY	Spotify	Japan 225
EURJPY	VanEck Junior Gold	NASDAQ 100
NZDCAD	Apple	China A50
EURSEK	Commodities	Cryptos
GBPUSD	WTI Oil	BTCUSD
AUDPLN	Gold	XBNUSD
USDRUB	Natural Gas	XMRUSD
TRYJPY	Platinum	NEOUSD

* Details regarding the available assets are taken from the Skilling website and trading platform and are correct at the time of this review.

Trading costs such as spreads, commissions and overnight funding (swap) rates vary depending on the instrument being traded and account type opened but are covered further down this review.

Account Opening

“Skilling offers 2 main types of trading accounts called. The Standard Account offers commission-free trading and the Premium Account low commissions with lower spreads. The broker also offers access to demo trading accounts and professional accounts.”

Skilling offers users the ability to trade from 2 main types of trading accounts called Standard and Premium. Each one comes with different features with the main difference being the minimum deposit and commission amounts, as shown below in the broker’s comparison table for Skilling Ltd authorised and regulated by CySEC:

Skilling (Seychelles) Limited which is authorised and regulated by the FSA of Seychelles provides access to higher leverage with a maximum of 500:1 for retail and professional traders. The Standard Account offers the ability to trade on all three trading platforms offered by the broker with a low minimum deposit of just 100 USD or EUR. The Premium Account offers the ability to trade on the Skilling Trader and cTrader platform with a higher minimum deposit of 5,000 USD or EUR.

Opening an account is relatively simple and can be done by clicking on the Sign Up button on the broker’s homepage. This will lead users to a signup page which asks for email, password, country of residence, phone number, the base currency of the account (USD, EUR, NOK, SEK, GBP) and the licensing entity (Skilling Europe, regulated by CySEC) or Skilling Global (regulated by the FSA of Seychelles).

Users are then redirected to the Skilling Trader web-based platform to complete account registration, as shown below:

Users will need to go through the application process and provide persona, address, financial information and level of experience, as well as standard verification procedures for proof or identity and proof of address. From this platform, users can also access deposit and withdrawal options and manage their trading accounts.

Deposit & Withdrawals options

“Skilling offers commission-free deposit and withdrawal methods from Visa/Mastercard, Trustly, Skrill, Neteller, Klarna and Swish.”

Skilling offers commission-free deposit and withdrawal methods from Visa/Mastercard, Trustly, Skrill, Neteller, Klarna and Swish, depending on the currency used to deposit funds. However, minimum deposits are 100 of the base currency (or 1,000 for SEK) and the minimum withdrawal is 50 of the base currency (or 500 for SEK).

Deposits are processed instantly with all methods with withdrawals processed within 1 working day. More details can be found on the broker’s website as shown below:

Web & Desktop Trading Platforms

“Skilling offers users the ability to trade on the globally recognised MetaTrader 4, cTrader and Skilling Trader platform.”

Skilling offers a wide variety of different trading platforms suitable for both beginner and advanced traders to trade on multiple asset classes.

Skilling MetaTrader 4

The Skilling MetaTrader 4 trading platform is available for desktop download and via web browser and offers features such as:

Algorithmic trading with EAs
Customisable settings and charts
Ultrafast order execution
Built-in technical analysis indicators

Skilling cTrader

The Skilling cTrader trading platform is available for desktop download and via web browser and offers features such as:

Algorithmic trading with the Automate Editor
Multiple order types for multiple markets
Advanced trading platform features for ultrafast trading
Complete charting package

Skilling Trader

The Skilling Trader trading platform is available via web browser and offers features such as:

No download required
User-friendly platform
Ultrafast order execution
Integration with cTrader
Skilling Trade Assistant
Technical indicators and drawing tools

A screenshot of the Skilling Trader platform is shown below and is also covered in more detail in the video review.

Mobile Trading Platforms

“Skilling offers users the ability to access mobile trading on the go from the Skilling Trader app and the MetaTrader 4 and cTrader mobile trading apps for Android and iOS systems.”

Skilling offers users the ability to access mobile trading on the go from the MetaTrader 4, cTrader and Skilling Trader trading apps for both Android and iOS systems. The app download links can be found on the broker’s website or in the Google PlayStore or Apple AppStore.

The mobile trading apps offer the majority of the same features and functionality as the corresponding web-based platform which includes the ability to access multiple markets, view real-time prices and trade directly from the app.

The Skilling Trader mobile trading app is covered in more detail in the video review.

Trading Features

“Skilling offers additional trading features from what is already provided through the MetaTrader trading platform such as the Market place for automated strategies, customised indicators and copy trading, as well as such as Skilling Trade Assistant.”

Skilling offers additional trading features from what is already provided through the MetaTrader trading platform such as the Market place for automated strategies, customised indicators and copy trading.

The broker also provides a useful trading feature for beginner traders which is called Skilling Trade Assistant. This is an assistant in the Skilling Trader platform that explains the trading basics to help you place your first trade.

Commissions & Spreads

“Trading costs with Skilling vary depending on the account type opened and instrument traded.”

The Standard Account offers commission-free trading with spreads from 0.7 pips and swaps payable.
The Premium Account offers commission-based trading starting from $35 per million with spreads from 0.1 pips and swaps payable.
- Commission charges only apply on FX pairs and Spot Metals on the Premium Account.
- For EURUSD this is $35 per million.
- For GBPUSD this is $40 per million.
- Other FX pairs are $50 per million.
- Gold is $60 per million.
- Silver is $120 per million.

Swap rates for positions held overnight are calculated differently for each asset class. However, these can be found in the Specifications tab in the MetaTrader trading platform, as well as from the Advanced Info tab in the bottom right corner of the Skilling Trader platform when opening a trading ticket, as shown below:

Bonus & Promotions

“Skilling does not provide any bonus or promotion offers due to regulatory restrictions.’’

Customer Support

“Skilling offers customer support Monday to Friday 8am to 10pm CET in multiple languages via Live Chat, Email, and Phone.”

Skilling offers customer support Monday to Friday 8am to 10pm CET in multiple languages including English, German, Spanish, Swedish and Norwegian via Live Chat, Email, and Phone.

After logging into the Live Chat we were greeted by an agent within a few seconds who answered our question promptly and efficiently, as shown below:

Contact Information:

Address: 62 Athalassas Avenue, 2nd Floor, Strovolos, CY-2012, Nicosia
Email: support@Skilling.com
Phone:
- UK: + 44 208 080 6555
- Sweden: +46 40 6450 022
- Norway: +47 2195 0300
- Germany: +49 322 2999 0101,
- Cyprus: +357 2227 6710.
Social Media:
- https://www.facebook.com/SkillingTrading/
- https://www.linkedin.com/company/skilling

Research

“Skilling does not provide any trader research resources.”

Trader Education

“Skilling provides educational resources from the Skilling Academy which offers lessons on a variety of trading topics.’’

Skilling provides educational resources from the Skilling Academy which offers lessons on a variety of trading topics. This includes Fundamental Analysis, Technical Analysis for Basic, Intermediate and Advanced and Trading Basics lessons, as shown below:

Trading Experience

“Skilling provides a simple, user-friendly trading offering for both beginner and advanced traders to trade on different account types across a wide range of financial instruments and from multiple trading platforms.”

From our observations, Skilling provides a simple, yet user-friendly trading offering suitable for both beginner and advanced traders to trade on more than 850+ financial CFD instruments covering Forex, Shares, Indices, Commodities and Cryptos.

Users can trade from the commission-free Standard Account with spreads from 0.7 pips or from the commission-based Premium Account with spreads from 0.1 pips. The broker also provides access to the globally-recognised cTrader and MetaTrader 4 trading platforms, as well as its own simple to use Skilling Trader web platform.

FAQ

Is Skilling regulated?

Yes, by CySEC and FSA of Seychelles.

Where is Skilling based?

Skilling headquarters is based at 62 Athalassas Avenue, 2nd Floor, Strovolos, CY-2012, Nicosia.

How does Skilling make money?

Skilling makes money mainly through spreads, swaps and commissions on certain trading accounts and asset classes.

How do I deposit in Skilling account?

Funds can be deposited into a trading account via Visa/Mastercard, Trustly, Skrill, Neteller, Klarna and Swish.

What is the min. deposit for Skilling?

The minimum deposit is 100 USD / EUR.

How do I withdraw money from Skilling?

Withdrawals can be made from Skilling via Visa/Mastercard, Trustly, Skrill, Neteller, Klarna and Swish.

What is the max leverage in Skilling?

The maximum leverage offered by Skilling is 200:1 from its CySEC regulated arm or 500:1 from its FSA regulated arm.

How do I open an account with Skilling?

An account can be opened at the click of a button on the Skilling website and can be done in just a few steps.

Does Skilling use MetaTrader?

Yes, MetaTrader 4.

Conclusion

“Skilling offers the ability to trade on more than 850+ financial CFD instruments covering Forex, Shares, Indices, Commodities and Cryptos from the globally recognised MetaTrader 4, cTrader and Skilling Trader platform for desktop, web and mobile.”