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.

Pros
  • Easy-to-use and user-friendly trading platform
  • Offers exceptionally competitive spreads that starts from 0.0 pip
  • Low minimum deposit of 100 USD/EUR
  • Includes MT4 and proprietary trading platform
  • Regulated by FSA (Seychelles) and CySEC (Cyprus)
    Cons
    • Not available for the residents of the US
    • Doesn’t offer EFTs

      Skilling is based on STP performance and a fintech company. It was first started as an accessible, easy to navigate, and trade brokerage and trading platform allowing both professionals and beginners to engage. It was established by the Scandinavian tech team and firstly integrated in Malta and then the company expanded its branches to various other destinations.

      Although skilling is headquartered in Cyprus, it has a legal branch in the United Kingdom and broadens its proposal by an international entity that monitors in Seychelles. 

      The broker has more than 800 instruments and has the availability of powerful and popular trading software that includes MT4 and cTrader. Skilling also has its own software such as skilling traders to provide excellent experience of trading. 

      Skilling

      Regulation:

      Skilling is regulated by CySEC (Cyprus Security and exchange commission) under license number 357/18. It is also regulated by Seychelles FSA (financial service authority). It is operated through its UK branch by FCA (Financial conduct authority) with a reference No. 810951.

      Available financial instruments:

      Skilling

      Following are the financial entities available at skilling:

      Currency pairs (Forex):

      You get access to more than 70 currency pairs while trading with skilling. It also offers low spreads of 0.2 pips for premium accounts and gives leverage of 1:200 across different account types.

      For customers under FSA regulation can get leverage up to 1:500. You can check the list of forex pairs available from the product section.

      Commodities:

      There is a wide range of commodities available for trading such as West Texas Crude Oil, Brent Crude Oil, and Natural Gas.

      You can get leverage up to 1:30. If you are a customer under FSA regulation, you can trade at the leverage of 1:100.

      Precious metals:

      Skilling offers trading in precious metals such as gold and silver with varying leverage rates. For silver, you can get leverage up to 1:30. On the other hand, you can get leverage of 1:100 for gold.

      FSA customers can trade for silver at the leverage of up to 1:100 and 1:200 for gold.

      Indices:

      The broker offers access to 18 stock markets that include some high liquidity stock markets in the world. You can have leverage for indices of up to 1:200. As indices get traded as CFD, you can go short or long with the trades.

      You can get leverage up to 1:500 if you are under the regulation of FSA. While trading indices with skilling, you can get access to markets of China, Germany, Spain, the EU, Australia, China, France, the United Kingdom, and more.

      Stocks and shares:

      Skilling provides abundant opportunities and diversification for trading share CFDs.

      In the case of shares CFDs, international customers can trade in more than 700 listed companies. That includes apple, google, Walmart, tesla, visa, zoom, and much more. You can get leverage up to 1:10.

      Cryptocurrencies:

      You can trade up to 10 cryptocurrency pairs. That includes Bitcoin, Dogecoin, XRP, EOS, ETH, and more. On crypto trading, you can have a leverage of 1:2 and up to 1:5, if you are under FSA regulation.

      Account types:

      Skilling

      Skilling offers three account types as follows:

      Standard:

      It is an ideal account type for beginners. It takes 0% commission and available on Skilling cTrader and Skilling trader with spreads from  0.7. The minimum deposit is $100 and leverage of 1:500.

      Premium:

      The premium account differs from the standard in spreads (from 0.1) and commission applies if the volume exceeds the million. Starting deposit is $5000 and available on Skilling cTrader and Skilling trader.

      MT4:

      It is available on the MT4 platform instead of Skilling cTrader and Skilling trader. In addition, it has some differences in instrument number on MT4. It offers trading in 6 cryptos while other accounts offer trading in 10 cryptos. You don’t need to download MetaTrader if you use the web option. But if you use the desktop version, you can install it from skilling directly.

      Opening an account:

      Skilling

      To open an account, you just need to click on the sign-up button on the homepage. Your sign-up process will require your email, password, phone number, your desired base currency (EUR, NOK, SEK, USD, GBP) , country of residence, and licensing entity (skilling global or skilling Europe).

      Further, you will have to complete the registration process and go through the application procedure. Then, you will be asked to provide persona, address, level of experience, financial information, and some verification steps to prove your identity. 

      Trading platforms:

      Skilling

      Skilling offers 3 trading platforms for your ease. They are as follows:

      Skilling Trader:

      It is a simple, powerful, and unique trading platform designed by professional traders to help both beginners and professional traders:

      • Intuitive and user friendly
      • Superfast order execution
      • Both web and mobile support

      MetaTrader:

      Skilling incorporated with MetaTrader is a most developed platform due to its unmatched customization options and global support:

      • Developed trading platform
      • A vast range of technical indicators
      • Automated trading with EAs

      Skilling Ctrader:

      It is a powerful trading platform that provides advanced trading capabilities i.e. coding customization and data entry. It also has a variety of indicators so that you can take better trading decisions

      • Trade 800+ instruments on various platforms
      • No hidden fees or commission
      • Educational and intuitive trading experience

      Skilling Minimum Deposit

      For a standard account, Skilling requires a minimum deposit of EUR/USD 100.

      For those wishing to deposit SEK and NOK money on standard accounts, a minimum deposit of 1000 is required.

      A minimum deposit of EUR/USD 5000 is required to open a Premium account.

      Alternatively, you have to deposit at least 50000 SEK/NOK in order to open a premium in SEK or NOK currency

      69% of retail investor accounts lose money

      Fees:

      Skilling derives its fees from over 800 assets, which differs according to account type.

      Swap rates are applied to overnight positions, both negative and positive swap rates can be incurred.

      Standard account fees:

      It is commission-free however, spreads start from the 0.7 pips.

      Premium account fees:

      Although its spread starts from as low as 0.2 pips, it costs $35 commission over 1 million trading volume. 

      Skilling

      Deposit and withdrawal fees:

      The broker doesn’t charge any deposit fee. You may be charged fees by the intermediate institution, bank, or payment service providers such as Skrill, Neteller, etc based on the payment method you chose. 

      Bonuses and rewards:

      Skilling doesn’t offer any rewards or bonuses such as signup bonuses, deposit bonuses, etc to welcome the new customers or encourage old clients. Since the CySEC regulatory measures prohibited brokers to offer bonuses or retail promotions, there are no bonuses or trading contests.

      Payment methods:

      skilling

      Skilling provides different payment options such as 

      Credit card 

      Supports Mastercard, VISA electron and Visa.

      Οffers credit card payment in GDP, SEK, USD, EUR, and NOK. 

      Electronic payments

      Skrill and Neteller payment options are available to deposit funds

      Wire transfer

      It is another payment method for which you must complete the payment procedure through a bank name that matches your account name. 

      Final thoughts:

      Skilling is not only a safe and trustworthy broker but offers a range of features that can accommodate both beginners and professional traders. With its access to 700+ instruments, low trading costs  this broker can be considered among elite service providers.

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