Skilling review and ratings

Established 2016
Location Cyprus Seychelles
Regulation CySEC, SFSA
Offices Nicosia, Mahe
Broker type STP | ECN
Leverage up to 1:500
Deposit from 100 USD
Spreads low  low
Platforms Web MetaTrader 4 cTrader Specific
Instruments Currencies Crypto Indices Metals Energies Stocks
Funding methods Wire Transfer Credit Cards Skrill Neteller FasaPay Trustly Klarna

Company information

Skilling group includes 2 related companies.

Skilling CY - located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
Skilling SEY - located in the Seychelles, regulated by the Seychelles Financial Services Authority (SFSA).

Be aware, CY company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
At the same time, SEY company accepts European traders, so one can open a trading account there.

Availability

Skilling group accepts clients from all over the world, excluding USA, Canada, Australia, New Zealand, Japan, Korea, Israel, Iran and some other countries from the OFAC list.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

70+ Currency Pairs Based on major and minor world currencies.
10 Crypto Pairs Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dash, Monero, Ripple, EOS, IOTA, NEO.
17 Indice CFDs Based on baskets of different blue-chip stocks.
2 Metal CFDs Based on Gold and Silver.
3 Energy CFDs Based on Crude Oil (WTI, Brent) and Natural Gas.
700+ Stock CFDs Based on shares of US, UK and EU companies.

Comprehensive review

Skilling is a forex & CFD broker set up by a team of Scandinavian trading enthusiasts in 2016, and now based out of an office in Cyprus that serves European traders, and an offshore branch registered in the Seychelles for non-EU international traders.

As usual, the Cyprus-based entity of the broker is subject to the strict forex trading regulations from the European Securities and Markets Authority (ESMA), including a limitation on trading leverage to just 1:30 on major forex pairs.

However, a special thing about Skilling is that this broker also allows EU-based traders to sign up with its offshore-based entity, should they wish to do so. The broker thus provides an easy option for European traders to circumvent these regulations.

In terms of instruments available for trading, Skilling offers pretty much everything a trader would need, with the possible exception of interest rates and bonds. However, the broker does offer a fairly large selection of currencies, with more than 70 forex pairs to choose from, as well as a large variety of more than 700 single stocks of mainly American and European companies.

All of the instruments offered by Skilling can be traded on the broker’s proprietary trading platform known as Skilling Trader. This is a newly developed platform that streamlines and simplifies the entire trading process to a point where it is easy and can be learned by anyone in a short amount of time. The platform also comes with built-in drawing tools for performing technical analysis on the charts, as well as an integrated economic calendar to help users stay up to date on important news that can impact the market.

In addition, Skilling also offers trading on both the classic MetaTrader 4 (MT4) and the newer cTrader platform for those who prefer these better-known platforms that are used by many brokers in the industry.

Skilling further offers the choice between two different types of trading accounts for its new clients; Standard or Premium. Among these, the Premium account offers the lowest spreads, starting from just 0.1 pips, but with a commission of USD 35 per million traded. Unfortunately for many new traders, the Premium account also has a rather high minimum deposit of USD 5,000.

The Standard account, on the other hand, should be within reach for most beginning traders, with a minimum deposit of just USD 100. However, this account offers wider spreads, starting from 0.7 pips, although all trades here are commission-free.

Both types of trading accounts can be funded with either international bank transfers, Visa and MasterCard, as well as a whole range of e-wallets such as Skrill, Neteller, Klarna, FasaPay, and many more. All funding methods are processed free of charge by Skilling, but certain minimum amounts apply to both deposits and withdrawals, depending on the chosen payment method.

Although Skilling has done a great job detailing all relevant information that traders would need on their website, it is still possible to contact the broker’s customer support team in the event no solution can be found online. For these cases, live chat, email, and international phone support is available Monday to Friday, 8 AM to 9 PM Central European Time.

In addition, Skilling users in Sweden, Norway, Germany, and the UK also have the option of contacting the broker’s local representative in their respective countries directly by phone.

All in all, it is clear to us that Skilling is a new challenger in the forex and CFD trading space that should be taken seriously. This is particularly true for their ability to innovate with new platform features, as they have done with the sleek and modern-looking Skilling web-based trading platform, Skilling Trader.

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