Skilling Broker Review- A Complete Evaluation

Skilling is an online trading broker that offers multi-facet assets for trading. It is founded in 2016. This online broker offers forex trading and CFDs trading with leverage. Skilling is a global broker that has developed its own Skilling Trader software to ensure that the technical solutions are at a good level

When it comes to trading financial markets, it can take a long time to find a broker that suits your needs. We will dig deeper into this technical review to assess how well this technology platform is performing as an international multi-financial asset trading platform for traders in 2022.

Who is Skilling?

Skilling

Skilling is an STP performance-based fintech company that started as an accessible, easy-to-operate, and easy-to-navigate brokerage and trading platform for both beginners and experts to participate. Founded by a Scandinavian technical team, the company was initially established in Malta and later relocated its offices.

Skilling is based in Cyprus, but also oversees the UK Legal Department and expands its services through an international unit operating in Seychelles. This online trading broker offers more than 800 instruments. It has three powerful trading platforms- MT4, cTrader, and Skilling Trader. Skilling also developed its own Skilling Trader software to ensure that the technical solutions are at a good level, the terms are transparent, and the traders can focus on performance.

Skilling- Legit or Scam

Skilling was first established in Malta, then moved its headquarters to Cyprus and received a Forex trading license from CySEC before operating, which also meets the standards and safeguards under European ESMA.

Skilling has also been authorized to operate legally in the UK by presenting in various countries and establishing UK offices. However, Skilling is regulated in all jurisdictions that provide commercial services. Additionally, there are offshore Seychelles licenses that provide non-strictly regulated registrations, you can trust your training operations with additional licenses from accredited organizations.

Pros of Skilling:

  • CySEC and FSA regulated.
  • Transactions without fees are possible.
  • 850+ CFD instruments to trade.
  • Multiple platforms are available.
  • Good customer support.

Cons of Skilling:

  • Dealer studies are limited, but the Skilling Academy offers some training resources.

Tradable Assets available on Skilling

Skilling provides a wide variety of tradable assets including cryptocurrencies, forex, shares, indices, and commodities. Traders can easily trade in these available assets by opening an account. Skilling currently offers a wide range of marketable products including:

Currencies: This broker offers 73 forex pairs for trading and investment. Top currency pairs are EUR/USD, GBP/USD, GBP/EUR, and USD/RUB.

Forex

Crypto Assets: Includes Bitcoin (BYC), Ripple (XRP), and Litecoin (LTC) as well as other lesser-known cryptocurrencies, all available directly through the Skilling platform.

Indices: This broker offers 15 global for trading. The top indices are S&P 500, NASDAQ, FTSE100, AUS200, ChinaA50, and Japan225.

Indices

Commodities: There are many commodities available for trading through the Skilling platform, including gold, silver, oil, and gas.

CFD Stocks: In addition to Skilling’s physical ledger, there are over 300 different options available for CFD stocks, including Amazon, Apple, Tesla, and Uber.

Top shares

Although the actual range of available trades on Skilling may vary over time, the platform has been shown to provide consistent diversity with respect to the trades offered, so the online CFD broker is the online CFD broker of choice for traders looking for diversity in their portfolio to increase. This online trading broker offers more than 800 instruments. Below is a list of some of the markets you can trade in-

ForexSharesIndices
EUR/USDViacomS&P 500
GBP/USDSpotifyJapan 225
GBP/JPYAppleNASDAQ 100
USD/RUBGoogleChina A50
EUR/SEKAmazonCryptocurrencies
JPY/TRYFacebookBitcoin
EUR/JPYTeslaLitecoin
NZD/CADVanEckRipple
GBP/EURUberEthereum

Skilling- Account Types

Skilling offers two types of accounts to its customers through its online trading platform.

  • Standard Account- This is the standard account for most sellers who sign up for Skilling. This account requires a minimum deposit of €/£/$100 or NOK, SEK 1000. The typical spread for this account is 0.7 pips against EURUSD.
  • Premium Account- This account is intended for professional traders and usually requires an application directly to Skilling rather than an online registration. A typical deposit for this type of account is 5,000 EUR/USD/GBP or 50,000 NOK, SEK.
Account types

In addition to the accounts mentioned above, a demo account is also available. The full functionality of the demo account is described above and you can access the $10,000 demo account without expiration by registering directly through the Skilling website.

Demo Account

Skilling understands that this account is completely risk-free and provides a safe virtual place to test your strategies, improve your knowledge and introduce beginners to precise trading operations.

demo account

Demo accounts can be used without an expiration date after registration and provide ample opportunity to test exactly what Skilling is capable of. Interested prospects can easily upgrade from the demo to a standard account by registering for the Skilling demo through the website and completing account verification.

Skilling- Fees & Spread

Technology trading fees and pricing models are primarily based on spread fees. However, be sure to check the exact terms and conditions as fees vary depending on the account type you choose and may vary slightly depending on the platform you use to transact.

  • Standard Account- The standard account provides commission-free trading and doesn’t charge any hidden commission. The spread on this account is 0.7 pips.
  • Premium Account- The premium account provides commission-based trading and doesn’t charge any hidden commission. The spread on this account is 0.1 pips.
 Standard AccountPremium Account
Trading PlatformSkilling Trader Skilling cTrader MetaTrader 4Skilling Trader Skilling cTrader
Spread0.7 pips0.1 pips
CommissionNo$35 per million
Minimum deposit$100$5,000
Leverage (Professional)1:2001:200
Leverage (Retail)1:301:30
Currency Pairs7373
Micro Lot TradingYesYes

Spread

Most traders choose this choice, so standard account terms start at 0.7 pips with all costs comprised of one margin. In fact, currency pairs and foreign exchange fees are competitive compared to the industry where EUR USD is typically 1 pip.

The premium account provides an interbank spread of 0.1 pips and charges a fee of $35 per million transactions, which is also competitive.

CFD Fees

CFD fees may be slightly higher considering the other brokers you can see below for gold and oil spreads. However, depending on the product, some spreads can be good and some can be a little high, so the broker’s quality is negotiable.

Leverage

Regulated forex brokers are also known to take positions that have the potential to increase your profits and profits. However, as leverage works in both directions, profits and losses also increase. Because of this, global regulations limit leverage to a certain level.

Leverage levels are also defined by the technical units to be traded. This is because European regulations significantly reduce the leverage allowed for retail customers down to 1:30, while professionals can use higher levels up to 1:200.

Skilling Trading Platform

Like many CFD brokers with their own developers, Skilling uses a specially designed trading platform to provide its clients with developed expertise. The visually simple and easy-to-use browser-based Skilling trading platform clearly lives up to the company’s mission. Forget jargon in exchange for easy-to-understand business information. Skilling’s in-house platform provides around 70 indicators, including options like moving averages and MACDs, allowing for quick and comfortable skill analysis if needed.

Skilling has three trading platforms. These three platforms are designed for both beginners and professional traders. It has a very user-friendly platform. Following are the trading platforms-

Skilling trading platform

Meta trader 4

The Skilling MetaTrader 4 is the first trading platform and it is available in the desktop version. It can be accessed in a web-based version. MT4 provides the following traits-

  • Algorithmic trading with EA
  • Customizable graphics and settings
  • Lightning fast order execution
  • Consolidated indicators for technical analysis

Skilling cTrader

The Skilling cTrader trading platform is available via desktop download and web browser and provides the following features:

  • Algorithmic Trading Using Automate Editor
  • Different types of orders for different markets.
  • Advanced trading platform features for ultra-fast trading
  • Full graphics package

Skilling Trader

The Skilling Trader trading platform is available via a web browser and provides the following features:

  • No download required
  • Easy-to-use platform
  • Lightning fast order execution
  • Integration with cTrader
  • Craft assistant
  • Technical indicators and drawing tools.

Read: Trading 212 Broker Review

Skilling Mobile Application

Skilling offers a custom trading platform for iOS and Android. The application mirrors the browser-based platform and allows for seamless movement between device and desktop.

mobile application Skilling

It provides a free app for iPhone and Android devices that is cross-platform and always in control. All in all, Skilling caters to all business needs, regardless of the size or style of a seller, and this will show up as a minor advantage in Skilling reviews.

Remittance (Funding) Arrangement

Skilling offers a variety of payment options to customers in the countries in which it does business. Cross-border transactions can be completed in a short period of time. Funding is possible at any time by clicking Deposit on the merchant dashboard. First, sellers must complete KYC verification before depositing funds. Skilling offers several ways to fund your wallet, including:

Payment Skilling
  • Credit Card (Visa, Mastercard, VISA Electron)- It accepts credit card payments in USD, EUR, BIP, SEK and NOK. Deposit is free and payment is completed in 10 minutes. The minimum deposit for payment by card is € 100.
  • Electronic payment- Merchants can deposit funds using Neteller and Skrill payment methods. Available currencies are USD, EUR, GDP, SEK and NOK. The deposit method is free and usually takes 10 minutes to complete. The minimum deposit for this method is €100.
  • Wire transfer- Bank transfer is provided by Trusty. Merchants must complete the payment using the same bank name as their account. Βροκερ does not accept third party payments due to anti-money laundering regulations. The minimum deposit required for bank transfer is £100.

Learning for beginners

Skilling offers some great research tools built into the platform you choose to trade on, including a free demo account and news feed. Each offers different skills, so you can better analyze your strategy and see which tool works best for you, but we rate it as very good.

Learning

However, prospective traders, in particular, don’t get the training support, training courses, webinars, or basic analytics they need from Skilling.

Client Service

Skilling provides distributors with an extensive range of contacts for technical issues and general inquiries. Distributors will always have a live chat button available. The email address is provided through the company contact page, and emails are always replied to within 24 hours, depending on the company website. The problem with this website is that customer support is not always available. Generally, sellers have to wait for a response until the next business day.

Customer service

Contacting Skilling is relatively easy. Contact information is readily available and the customer service hotline is open from 8 am. Every day of the week at 9 pm. Skilling can be contacted via instant web chat or by submitting a request in the help desk area.

Best offering of Skilling

Apart from the trading platform and mobile apps, there are some other offerings of this trading broker that we are going to discuss here in this section. The demo account will be automatically credited with a virtual credit of USD 10,000 to give potential clients a taste of the live trading experience.

Demo Account experience

A demo account is available through the website’s login page and is a great way to test out exactly what the platform looks like. Interested prospects can easily upgrade from demo to standard account by registering for the demo via the website and completing account verification.

Available Trade Assistant

Trade Assistant is a tool aimed at new traders that provides a simple platform to trade and learn along the way. The wizard works by providing images and questions related to the trading process, allowing the trader to choose what to trade, how to trade, and the overall process. This tool is easy for new traders to master and enhance their trading experience.

Exercise material

It offers the Board of Directors a Trading Academy that includes six courses in Markets, Trading Fundamentals, Fundamental Analysis, Intermediate Technical Analysis, and Advanced Technical Analysis. Technical training materials are free for all users and do not require a real account to be trained. It also offer training via email and social media accounts.

News and Calendar

The dashboard also features an easy-to-use interface, including an academy for further learning, and curated relevant news to provide additional information about the trading market as a whole. The dashboard also provides an economic calendar with additional information on key events or future changes and some market forecasts.

Regulated Broker

Skilling is fully regulated and approved by CySEC, the Cyprus Securities and Exchange Commission. This is one of the main reasons Skilling cannot offer offers or promotions to new or existing customers. These offers are restricted in EU/EEA countries.

Skilling regulated broker

To expand the global reach of the brand, it also regulates the FSA of Seychelles. Skilling also highlights our commitment to providing our clients as a member of the Investor Compensation Fund (ICF). Skilling’s online trading platform is encrypted and it uses Secure Socket Layer (SSL) to protect the data of the users on this platform. This protects our clients from cybercrime and fraud both in terms of operations and funds deposited.

Read other reviews- Plus500 Broker Review UK

Trader’s Security

Skilling is fully regulated by the Cyprus Security and Exchange Commission (CySEC) and it has a license from CySEC under 357/18. This ensures that all data is encrypted before it travels online and the seller’s money and details are kept safe.

This is also supported by Skilling’s internal developer and support team, so your company can respond quickly if security issues arise. This process can be more challenging for outsourcing companies, but using a proprietary platform allows Skilling to quickly and efficiently manage security requirements as they are discovered.

Final Closure

Skilling is versatile in a growing market, but ultimately the best platform for beginners in the trading world. Your margins may be higher than some of your competitors, but you can make up for the high cost with some great features that give new operators the information. A variety of trading options add to the appeal of this platform, making it a great option for those looking to enter the market for the first time.

Frequently Asked Questions

Is Skilling a secured broker?

Skilling’s online trading platform is encrypted and it uses Secure Socket Layer (SSL) to protect the data of the users on this platform.

Is Skilling a regulated broker?

Skilling is strictly regulated by the Cyprus Security and Exchange Commission (CySEC) under license number 357/18.

What is the maximum leverage availed by the traders?

Leverage levels are also defined by the technical units to be traded. This is because European regulations significantly reduce the leverage allowed for retail customers down to 1:30, while professionals can use higher levels up to 1:200.

What are the tradable assets available?

Skilling provides a wide variety of tradable assets including cryptocurrencies, forex, shares, indices, and commodities.