Summary

Founded in 2016, Skilling is a multi-asset brokerage firm offering both in-house and third-party trading platforms. With multiple accounts at clients’ disposal, the company offers access to 900+ tradable instruments across various asset classes, such as forex pairs, commodities, stocks, and many more.

With the support of their 70+ staff members, clients have access to state-of-the-art technology, user-friendly trading platforms, a wide range of financial instruments, fees & commissions, transparent pricing, and lightning-fast trade execution. In this Skilling review, we will cover the minimum deposit to open an account, its regulations, available stock exchanges, educational resources, trading accounts and safety measures.

In addition, we will delve into users’ opinions about the Skilling from popular websites such as Reddit and Quora. There is also the FAQ section that provides answers to all your questions about the broker. 

Available Assets

Skilling offers 900+ tradable instruments across multiple asset classes, including forex, commodities, stocks, indices, energies, and cryptocurrencies. Let’s quickly explore the financial instruments available in this section of Skilling review. . 

Stocks

Clients can discover diverse trading options with access to 700+ stocks available to trade in a seamless environment without owning the underlying asset. Because shares may be purchased and sold using CFDs at Skilling, investors can open positions in any direction. Thanks to well-known and respected names like Amazon, Facebook, and other companies like Alibaba and Netflix, you’ll never be short of options. 

Indices

Traders can keep an eye on the fluctuations in the prices of different index CFDs worldwide and react accordingly. In contrast to investing in individual companies, trading indices allow you to benefit from the movement of a larger group of equities, enabling you to gain exposure to a whole industry or economy with a single trade. The broker offers 20+ indices, from time-tested indices like the S&P 500, Germany 40 to modern favourites like the UK 100 and the Spain 35.

Forex

Skilling offers you to get into the largest market in the world and speculate over the value of currencies. You’ll have a wide range of possibilities, as there are 70+ forex pairs to choose from (including major, minor, and exotic pairs). The EUR/USD, GBP/USD, and USD/JPY forex pairs are some of the most actively traded in the world; you can trade for the lowest spreads at Skilling. 

Commodities

Clients can explore 12+ commodities with low spreads and a transparent pricing structure while trading at Skilling. You will likely find favourable market conditions year-round if you’re looking to trade sweets like sugar and chocolate or grains like corn, wheat, and soybeans. 

Cryptocurrencies

Whether you wish to trade Bitcoin CFDs or prefer speculating on other coins like Ethereum, Iota, or Litecoin, the broker offers 60+ crypto assets. Since CFDs do not require ownership of the underlying asset, there is no need to buy cryptocurrency on an exchange. 

Stock Trading at Skilling

When a country’s economy improves, so do the prospects for businesses within it, driving up the value of their stock. A stock market is a good option for long-term investors because of its historically high rate of return. Investing in reliable businesses is a surefire way to increase your earning potential. On the other hand, short-term investors can also benefit from the stock market, as even a single day’s investment in the market can yield a considerable rate of return.

While the stock market is among the most user-friendly options for buying and selling shares, It is a great place to add diversification to a portfolio. Diversifying your shareholding reduces the likelihood of your exposure to any single firm and positions you to take advantage of the growth in various markets. In addition, it protects you from the volatility of other markets by acting as a hedge against the value of your investment. 

Moreover, buying and selling stocks can also help you earn dividend payments. When you invest in a company’s stock, you become a partial owner of the company’s profits and are entitled to a dividend payment. However, if you trade stocks as CFDs, you do not purchase the underlying share, and cannot benefit from this added perk.

Available Stock Exchanges at Skilling

Skilling makes share trading seamless by providing access to a wide range of stock exchange markets. Through Skilling, you may gain exposure to 700+ global shares to benefit from the rising prosperity of the world’s economies. However, it does not offer real stocks, so you are left with the option of speculating on their value using CFDs.  

Skilling clients can trade shares’ CFDs listed on the following stock exchanges.

Stock Trading Fees & Commission at Skilling

When trading equities, the broker only charges spreads and overnight swaps if they are applicable. You don’t incur any commission charges on a stock trading at Skilling. 

Stock Trading Leverage at Skilling

Leverage entails opening positions using borrowed funds. Brokers offer leverage up to a specific limit to help clients maximise their market exposure despite having limited funds to invest. Although leverage looks enticing, it carries a great deal of risk. Understanding what leverage is, how it works, and the necessity of risk management is crucial in Trading because excessive leverage can result in significant losses during fast market movements. Skilling offers a leverage of up to 1:5 for stock trading. 

Regulations

Skilling has two entities operating under the brand name Skilling Limited. One is registered in Cyprus, while the other is based in Seychelles. Clients residing in Europe and adjacent jurisdictions can sign up with Skilling Limited, whereas the company serves the rest of the world through the Seychelles-based entity. This review will list them both, along with the information on their respective regulators and official addresses. 

Skilling Limited: This entity operates under a CIF licence issued by the Cyprus Securities and Exchange Commission (CySEC). It is also authorised and regulated by CySEC. The company’s official address is 62 Athalassas Avenue, Strovolos, Nicosia, Cyprus, CY-2012.

• Licence Number: 357/18.

Skilling Seychelles Limited: This entity is authorised and regulated by the Seychelles Financial Services Authority (FSA). The company is based in Seychelles and located at Suite 4G, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles.

• Registration Number: 8425574-1
• Licence Number: SD042

Fees and Commissions

Brokers charge their clients some fee as compensation for their services. Skilling does the same. Clients can expect to incur both trading and non-trading fees when dealing with the broker. Below, we review both types of fees one by one. 

Trading Fees

Skilling fees are pretty competitive compared to average market standards. Below we explore costs under each head separately. 

Spreads

Skilling spreads start as low as 0.43 pips for equities like Tesla, while currency pairs such as EUR/USD are available for a minimum spread of 0.1 pips on a premium account. 

Commission

Skilled traders using a premium account will pay a commission solely when buying or selling foreign currency pairs or spot metals. The broker doesn’t charge any commission on trading stocks CFDs. 

Swap Charges

Clients may incur a swap fee for holding overnight positions. 

Non-Trading Fees

Non-trading fees refer to charges that aren’t directly linked to your trading activities, such as fees on deposits/withdrawals, currency conversion, or account administration charges. Let’s quickly review some non-trading costs that may arise while working with Skilling.

Deposit & Withdrawal Fee

Unlike most brokerage firms, Skilling charges its clients up to 2.9% of the transaction value on deposits and withdrawals, especially when you make transactions using Skrill, Papal, or Neteller. 

Currency Conversion Fee

The broker charges a currency conversion fee if you transfer funds in currencies other than your account’s base currency. When you close a position, the broker deducts a 0.7% fee from your net gain or loss.

Inactivity Fee

There is no account administration or inactivity fee either. 

Account Types

Skilling accounts include Standard, Premium, and MT4. The broker also offers a demo account. We will explain in detail each of these account types in this section of the review. 

Demo Account

There is an option to try out Skilling with a free demo account that has a maximum of $10,000 in virtual currency. Clients may feel free to test their trading strategies as much as they like until the balance replenishes. The demo account expires after one month. 

Standard Account

The standard account is the default account most offered to all clients signing up with the broker for the first time. While spreads in this account start at 0.7 pips, it is suitable for clients with limited market exposure. The minimum deposit to open the account is $100. 

Premium Account

Investors with previous trading experience may prefer to sign up for the premium account. While all other services look identical to those offered in the standard account, spreads/commission factors differentiate between the Standard account and the Skilling Premium Account. The spreads starting as low as 0.1 pips necessitate a more significant initial investment, i.e., $5,000.

MT4 Account

There aren’t many differences between MT4 trading accounts, Standard and Premium accounts, including leverage, available assets, and protection against a negative balance or permission to the scalp. However, the number of available financial instruments in the MT4 trading account is limited. 

For instance, you only have access to less than 80 equities which are 760 in the standard and premium accounts. Similarly, clients can only trade 6 crypto CFDs using the MT4, while more than 50 crypto CFDs are accessible via other account types. The minimum deposit to open the MT4 account is $100. 

Trading Platforms

Considering the need of individual traders, Skilling offers both proprietary and outsourced platforms. Available options include Skilling Trader, TradingView, cTrader, and the industry’s most renowned trading platform – MetaTrader4 (MT4). Almost all supported platforms are accessible via desktop and mobile. Let’s quickly find out each channel’s various features and services in this aspect of the broker’s review.

Desktop Trading Platform

While the Skilling Trader offers a customised trading experience, the Trading View comes fully equipped with all the necessary tools and features for a successful trading endeavour. MT4 and cTrader are equally competitive trading platforms with several benefits over each other. While most traders use MetaTrader 4, advanced traders often like cTrader. MT4 is easier to learn and use, faster and provides access to a larger variety of automated bot programmes known as Expert Advisors. Compared to MT4, cTrader excels in several areas, including charting, functionality, and market depth. For illustration purposes, we’ll review the brokers’ proprietary trading platform – Skilling Trader. – 

Overview

The broker claims to have spent years developing Skilling Trader, a trading platform that is both easy to use and robust, to meet the demands of both novice and experienced investors.

User-Interface

The Skilling Trader’s user interface is easy to navigate. Even newbies can become familiar with it quickly. While all the tabs are self-explanatory, the dashboard only has a few clickable buttons. 

Technical Indicators & Drawing Tools

You will have access to all the appropriate tools and features you need to analyse and excel at your trading. The average time it takes to execute your trades will be among the fastest in the business.

Watchlist

The watchlist offers information about financial instruments in one place, such as their popularity and country of origin. A search box adds convenience and facilitates further use. Investors can modify the watchlist to focus on a specific asset or trading type. 

Notifications

You can set up notifications on the desktop platform. In addition to weekly market reports and trade of the day notifications, Autochartist also provides alerts for critical economic events.

How to Open an Account on a Skilling Desktop Trading Platform

 Opening an account with Skilling on the desktop involves the following steps. 

1. Visit the broker’s official website and click the Signup button on the home screen’s top right corner.
2. Enter your email address and create a password.
3. Select your country of residence and choose your preferred entity from the drop-down menu beneath the “complete registration” button.
4. Type your name as it appears on your National ID Card and click continue.
5. Enter your date of birth and step ahead.
6. Provide your mobile phone number and click continue to proceed further.
7. Confirm your tax status, country of birth and nationality. You must indicate that you are not a US resident and don’t require paying taxes to the US tax authorities.
8. Provide your residential address, enter the postal code and confirm the city.
9. Enter your financial information, such as employment status, relevant industry, annual income, source of funds, etc.
10. Confirm your previous trading experience and click the continue button.
11. Provide your taxation number. You can use your identity card number instead if you don’t know your taxation number or if this is irrelevant in your case.
12. Mark your agreement to the terms and conditions apply. 
13. Verify your identity to add funds to your account and start placing trades.

Note: Although you can skip it now, the broker doesn’t allow you to trade unless you verify your account. You can use a copy of your National ID card or Passport for the same. The broker will likely ask you to submit a copy of your utility bill to confirm your address. 

Mobile Trading App

The broker supports the trading platforms Skilling Trader, MetaTrader 4, and cTrader for iOS and Android mobile devices. You can find links to download the apps on the official website or go straight to the Google Play Store or App Store to install them. We review the Skilling Trader Mobile app below. 

Overview

The Skilling Trader Mobile app offers almost all the features you can access via the desktop trading platform. The mobile app supports 15 languages and allows you to select the theme to your liking. Switching between real and demo accounts using the mobile trading app is just a click away. 

Watchlist

The market’s watchlist displays tradable instruments for each category the broker supports. Besides providing access to your favourite list, it lets you use the filter option to see top gainers and fallers besides identifying the most traded assets of the day. 

Positions

The position tab provides an overview of your trade placement, such as closed orders, open positions and pending orders. 

Trade Assistant

Trade Assistant helps newbies to understand the basics and place their first trade. Whether you wish to trade stocks, open a position for currencies, or speculate over the prices of digital currencies, the trade assistance gets you covered. 

Reports

Using the report feature, you can analyse your performance, see your trading activity and track your transactions. It helps you identify where you went wrong and how you can get back on track. 

How to Open an Account on a Skilling Trading App

If you wish to open an account with Skilling on a mobile device, here are the steps you need to follow. 

1. Download the app from the respective app store and open it on your mobile device.
2. Click on the signup button in the upper right corner of your mobile screen.
3. Enter your name and click continue.
4. Select your country of residence.
5. Confirm your date of birth to proceed further.
6. Provide your mobile number and click the continue button.
7. Confirm your tax information and mark your disclaimer that you are not a US resident. 
8. Enter your residence address, postal code, and city name.
9. Enter your financial details, including your employment status, annual income, source of funds, etc.
10. Confirm your previous trading experience, such as how long you have been trading and the purpose of your investment.
11. Enter your tax identification number.
12. Read the terms and conditions and mark your agreement.
13. Upload supporting documents to verify your identity. Once your account is verified, you can add funds and start placing trades.

Payment Methods

There are multiple options for deposits and withdrawals at Skilling, including but not limited to Debit cards, Credit cards, e-wallets (Paypal, Skrill, Neteller), Wire transfers, FasaPay, Payretailers, PagSmile, Directa24, CoinsPay, and Paytrust. In this section of the review, we will explain the deposits and withdrawals process and methods. 

Deposits

Although you can access a wide variety of payment options, each payment method comes with a minimum deposit limit of $100 at Skilling. Please note that some payment methods are only available in certain jurisdictions. There is no fee on deposits, except for the  Neteller and Skrill. The average processing time the broker takes for deposits and withdrawals is one business day, while you may need to wait a little longer if using bank transfers. The company takes 1-3 business days to process payment via bank transfers.

Withdrawals

The company processes withdrawals to the original payment method. The minimum amount you can withdraw is $50. Depending on your selected entity, you might incur a withdrawal fee of up to 2.9%. All withdrawals are processed within one day, except for wire transfers. On average, funds transferred via wire transfers may take 1-3 business days to reach your account.

Account Base Currency

The broker supports USD, GBP, EUR, SEK and NOK as the account’s base currencies. There will be no currency conversion charge as long as you deposit, withdraw, or transact funds in the base currency of your account. Otherwise, currency conversion charges may apply. Once you close your position, the company charges 0.7% of the difference between your gain and loss and will deduct the amount straight from your trading account. 

Research and Education

Unfortunately, Skilling research and educational facilities lag well behind the average industry standard. There isn’t any dedicated section to access educational material; you can access the available resources captioned as “Trading Articles” on the broker’s website. While most of the material targets skilled traders, the broker has forgotten to consider the educational needs of beginner traders. 

The insightful opinions are valuable for fundamental research traders but do not independently provide a complete picture of the market mood. Market summaries and economic news are missing. In addition, there is no video material or economic calendar. However, Skilling does provide Spanish-language webinars.

Customer Services

Customer care is integral to a company’s success, and the broker knows it well. While you can reach the company through telephone, email and live chat, a dedicated FAQ section is also available to help clients find quick resolutions to their queries and concerns independently. The broker responds reasonably fast across all of its communication channels. The multilingual customer support remains accessible round the clock during weekdays. The company also has social media representation on Facebook, Twitter, Instagram, LinkedIn, and Youtube. 

Telephone: +44 208 080 6555

Email: support@skilling.com

Reviews

Checking the broker’s reputation amongst investors is crucial before making your final decision. Below is a quick review of the broker’s clientele feedback on different public platforms, like Reddit, Quora, Trustpilot, and Forexpeacearmy. 

What Reddit Users Say About Skilling

Since the broker hasn’t been in the industry for so long, most Reddit users are either unaware or don’t bother discussing it. After trying multiple keywords, we could only find a single thread that also seems to question the broker’s legitimacy. 

For instance, a member blamed the broker for forcing people to use a leverage of 1:5 when it comes to stock trading. However, other members didn’t second his claim and informed him that it depends on clients to use a leverage that suits them the most. The broker offers maximum leverage of up to 1:5 to trade stocks but doesn’t force you to use it. While there isn’t enough data available about the broker on Reddit, being judgemental doesn’t make sense. 

What Quora Users Say About Skilling

Unlike Reddit, the Quora community is not only aware of the broker but also has a positive opinion about it. In response to a member’s question regarding which broker has the minimum deposit requirement, someone named “Skilling”.

While another query was raised by a Quora user concerning the existence of legitimate brokers, Skilling made it to the list of recommended brokers once again. Therefore, we can say people trust Skilling for its overall trading services as far as the Quora community is concerned. However, reviews about the company on other platforms also matter. 

TrustPilot Users’ Review About Skilling

Skilling holds an excellent reputation amongst investors on Trustpilot. People seem to be highly satisfied with the brokerage services it offers. While 87% of clients believe the company is suitable for trading stocks and other tradable financial instruments, only 5% of customers voted it to be a poor bet. However, this is understandable since no broker can ever have a 100% happy customer base. In short, the company’s rating of 4.7 out of 5 stars says all concerning users’ reviews about the broker on Trustpilot. 

ForexPeaceArmy Users’ Review About Skilling

Not so many posts are available on FPA; thus, we could only find two feedbacks about Skilling on the said platform. While the Brazilian client holds positive views about the broker, the Russian customers denounced the broker for everything. For instance, TaianeSiebra – the Brazilian girl, favoured the broker for its transparency. She explained her confrontation with the broker and confirmed the reversal of payment which is surely a welcoming trait of the company. On the other hand, the Russian guy claimed the broker had cancelled his positions for more than a year but didn’t explain further, making his claims too bad to be true. 

Other Products and Services

While there isn’t much to talk about regarding the provision of other products and services, significantly, when a broker lags to feature some crucial elements like research and educational resources, we believe copy trading facility is worth mentioning here. We will review each of the other products and services below. 

Copy Trading

Using Skilling Copy, you may mimic the actions of successful traders and replicate their trading tactics with ease. You can find the best strategy for your needs by digging into the accessible performance data and learning about Strategy Providers, their investing track records, and their trading styles. Copy Trading is available through Skilling’s cCopy, a web-based solution that works in tandem with Skilling’s cTrader platform and has won several awards.

Is Skilling Safe?

As far as Skilling safety is concerned, the broker is trustworthy to invest in stocks and other financial instruments. The company holds multiple regulations and employs state-of-the-art technology to protect clients’ confidential data. Besides keeping clients’ funds in segregated bank accounts, the broker offers a funds compensation scheme, allowing clients to claim for their losses up to a specific limit if the company goes bankrupt. Moreover, protection against negative balance and instant trade execution to help clients avoid slippage issues make the broker reasonably safe. However, the business risk is always there, and you must complete your homework before signing up with it. 

Bottom Line

Skilling is a reputable broker known for its transparent trade execution and pricing structure. The company provides its customers with a wide variety of trading instruments. However, the trading fee doesn’t seem slightly higher than average industry standards. Also, the fact that the broker applies a deposit and withdrawal fee is condemnable. Traders of all stripes will find what they need among its several account options, although the site’s research tools and educational resources are limited in scope and depth. However, its superior trading systems are ideal for technical analysis-heavy investors. Moreover, the copy trading feature and the quick customer support make it a competitive choice for both newbies and skilled professionals. 

We tried covering maximum detail about Skilling to help you assess whether or not the company suits your trading taste. Besides listing the pros and cons of signing up with the broker, we explained its pricing structure, explored supported trading platforms and educational resources, and mentioned supported payment methods. We also shared what people think about the company on Reddit and Quora. We believe reading this review will help you make an informed trading decision. Should you wish to recall some of the critical points that we’ve covered in the article? Please continue reading the FAQs section below.