Skilling Review: Is this broker legit, safe and trustworthy for UAE citizens and residents?
Since 2016, Skilling has been operating successfully as a broker. Cyprus,
Malta, the Seychelles, and Spain are the locations of Skilling's respective
headquarters. They are typically well-suited for Skilling to supply their
foreign exchange and commodity futures trading services to customers all around
the world. Get started with Skilling.
In addition, this broker holds licenses issued by the FCA (UK) 810951, the CySEC (357/18), and the FSA (Seychelles) SD042.
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This forex broker provides Premium, as well as Standard, accounts in addition to the demo version. In addition, you need to give some thought to leverage and the minimum deposit before you can effectively manage your trading account. In terms of leverage in general, the greatest leverage that Skilling makes available to its customers is up to 1:500. In the meanwhile, you have the option of opening an account with an initial deposit of one hundred dollars.
In addition to a large number of currency pairs, Skilling gives you the opportunity to trade on a variety of assets, including Forex, gold and silver, indexes, and cryptocurrencies, giving you the most options possible. Keep in mind that the terms and conditions of trading varies depending on the type of asset being traded. In this scenario, you need to be certain that your method is appropriate for the instrument that you have decided to use.
Wire transfer: The wire transfer mode of payment is the one that is utilized most frequently. This strategy is included as part of the service offered by virtually all brokers throughout the world. The reason for this is that a wire transfer is really just a standard transaction between banks all over the world. Therefore, the use of this procedure is completely risk-free. Traders who don't use third-party payment processors or don't have credit cards will find this quite helpful.
Skrill: The vast majority of forex brokers provide Skrill as an alternative to other online payment services. Traders choose this strategy primarily because it facilitates transactions that are quick, simple, and risk-free. Traders can use Skrill to finance their trading accounts with credit cards, bank wire transfers, or straight from their Skrill e-wallet accounts. All three methods are available to traders.
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Neteller is another one of the most widely used online payment methods available today, right alongside PayPal. As a result of its widespread use, practically all forex brokers now allow Neteller as a means of payment for the depositing and withdrawing of funds by their customers. Despite the fact that the Neteller system is virtually accessible anywhere on the planet, its popularity in Europe continues to be unparalleled.
In addition, credit and debit cards may be used to make payments with skill.
A trading platform is a technology that enables users to purchase or sell an instrument with only a few clicks on their smartphone, at any time and in any location they want. In most cases, the price chart will also come with a set of analytical tools that will assist you in analyzing the movement of the price. This will allow you to boost your profitability by executing trades that have been carefully thought out.
Is Skilling a good broker? Traders may judge the quality of a broker's service based on a number of factors, including the trading instruments offered, the ease with which they can make deposits and withdrawals, and the quality of the assistance they receive from the broker's customer service department. What constitutes success for one trader could not be the same thing for you in the same way that it was for the other trader. Therefore, "a good broker" might have several connotations depending on context. Reviewing the criteria will allow you to make an informed decision on whether or not Skilling is an appropriate broker for your needs. Trading services are offered by Skilling in a variety of markets, including Forex, gold and silver, indexes, and cryptocurrencies. You have the option of paying using credit or debit cards, Neteller, Skrill, or a wire transfer when it comes to the various payment options. You may reach the customer care team via phone, as well as by e-mail and live chat.
What is the lowest amount that may be put down for Skilling? The first investment required for Skilling is $100.
Is Skilling regulated? Skilling is governed by CySEC 357/18, the Financial Conduct Authority (UK) 810951, and the Financial Services Authority (Seychelles) SD042. A registered broker equals a more responsible trading environment. As a result of some legal frameworks in the financial industry requiring a compensation mechanism in the event of unanticipated catastrophes that result in clients' financial losses, you can also anticipate a greater assurance of the safety of your savings.
Is Skilling legit? Since 2016, Skilling has been operating as a brokerage firm, providing clients with trading services. The company has offices in Cyprus, Malta, the Seychelles, and Spain.
Skilling is a registered CFD instrument broker that was established in 2016 and has its headquarters in Seychelles. It gives you the ability to trade more than 850 different financial CFD products, such as cryptocurrencies, commodities, stocks, and indices, among other things. The broker is an official partner of Aston Villa Football Club in addition to being regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA). It is a reliable venue for trading on the web, desktop computers, and mobile devices using MetaTrader 4, cTrader, and Skilling Trader.
Skilling is a licensed and regulated brokerage firm that conducts business on a global scale. On its simple and user-friendly trading platform, which a wide variety of trading customers may utilize to gain access to, it provides more than 850 distinct financial instruments that belong to a variety of asset classes. Other distinguishing characteristics of the broker include the following:
Trade financial assets such as foreign currency, cryptocurrencies, commodities, stocks, and indices. Skilling is an ideal platform for traders who are looking to broaden their exposure to a variety of markets and develop expertise in those areas by trading over 850 CFDs.
Spreads that are competitive. Skilling spreads differ depending on the type of account you have. Spreads for Standard accounts begin at 0.7 pips, while Premium Accounts begin trading at 0.1 pipis and have commissions that begin at USD 35 per million.
Regulated broker. The Financial Services Authority (FSA) and the Cyprus Securities and Exchange Commission (CySEC) supervise Skilling, ensuring that the broker is honest and dependable.
Free trial account available. Demo accounts of Skilling can be created for players who are just starting off. It does not have an expiration date and may be upgraded to a Standard account without any hassle.
Leverage available up to 30 times. You may leverage your trades up to 30 times in Europe, and 500 times globally if you use Skilling.
A diverse range of trading platforms to choose from. You may access Skilling using your mobile phone, a web browser, the Skilling Trader application, Skilling cTrader, or Skilling MetaTrader 4.
Overall, Skilling is a great trading broker that caters to novices but can also meet the needs of more experienced traders. Even while its spreads and commissions are not the lowest on the market, they are still quite competitive, and the exceptional user experience helps you get the most value for your money.
An overview of the broker's background and history: Skilling is an online CFD trading platform that was established in 2016 and caters to traders all over the world. Henrik Persson Ekdahl, Andre Lavold, and Mikael Riese Harstad of Optimizer Invest were the original founders of the firm, which is privately held and based in Scandinavia. Although Skilling Ltd. is officially established in the Seychelles, its offices are located in Cyprus, Malta, and Spain. Skilling has its headquarters in Nicosia, Cyprus, which is also the location where the business was able to acquire a CySEC license. In addition, the Financial Services Authority (FSA) holds jurisdiction over Skilling Ltd. under license number SD042.
Since the beginning, the company's primary objective has been to provide "an innovative trading platform that is tailored to the requirements of traders of all levels." "to unlock the potential of the world's financial markets for everyone" is the aim of Skilling.
Skilling is willing to do business with traders from the following jurisdictions: Antarctica, Afghanistan, the Aland Islands, Albania, Algeria, Andorra, Angola, Anguilla, Antigua & Barbuda, Argentina, Armenia, Aruba, Austria, Azerbaijan, the Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bermuda, Bhutan, Bolivia, Botswana, Brazil, British Virgin Islands, Brunei, Bulgaria, Burkina Faso, Cambodia, Cameroon, Cape Verde, Cay South Africa, South Georgia, South Korea, Spain, Sri Lanka, Suriname, Swaziland, Sweden, Switzerland, Syria, Sao Tome and Principio, Taiwan, Tajikistan, Tanzania, Thailand, Togo, Tokelau, Tonga, Trinidad and Tobago, Qatar, Republic of the Congo, Romania, Russia, Rwanda, Saint Barthelemy, Saint Kitts and Nevis, Saint Lucia, Saint Martin, Saint Vincent and the Grenadines, San Marino
A good rule of thumb is that in order for inhabitants of your nation to be able to create an account with Skilling, your country must be on the list of countries that must be selected during the registration process. If the nation you reside in does not appear on the list, then we are unable to provide service for your jurisdiction.
When opening an account with Skilling, users are required to successfully complete "know-your-customer" (KYC) and "anti-money laundering" (AML) checks since Skilling is a licensed broker. The following items must be submitted in order to complete the procedure:
Name, family name, birth date, and country of residence are required.
Number of identification for tax purposes
Information pertaining to one's finances, such as their annual income, work status, and source of funds
Manufacturing and professional work
The rationale for the trading
A photocopy of your passport or driver's license
Documents such as a driver's license and utility bills
The verification procedure is often extremely rapid, and if all goes according to plan, you may anticipate beginning trading on the next working day.
Skilling features a straightforward pricing structure, with the primary variable being the sort of account you have. Standard account holders are subject to the broker's competitive spreads of 0.7 pips, while Premium account holders can trade with spreads that begin at 0.1 pips and a minimal value fee of 0.006 percent.
Skilling additionally computes a variety of swap rates for positions that are held overnight, with the rates varying according to the asset class. These may be located under the Specifications tab of the Skilling Trader platform or the Advanced Info page of the MetaTrader platform, respectively.
Skilling does not charge any additional costs associated with withdrawals; nevertheless, there are fees associated with inactivity for accounts that have been dormant for more than a year. If you want to discontinue using the service, you will incur an extra price of 10 Euros if you do not deactivate your account beforehand; thus, it is in your best interest to do so.
The design as well as the usability: Skilling is able to attract customers because it gives them access to a broad selection of assets. These assets include cryptocurrencies, crypto assets, commodities, stocks, indices, CFD equities, and a great deal more. People who wish to test their tactics in a range of different marketplaces will find that this platform is an ideal way to do so.
At this time, it provides a wide range of tradable items, including the following:
Skilling's Forex offering includes over 70 of the most popular currency pairings for traders.
Indices. Trade on more than 15 of the most important indexes, such as the S&P 500, the Nasdaq 100, the Dow & Jones 30, Germany 30, and the UK 100, among others.
A wide variety of different stocks, including Apple, Google, Amazon, Facebook, Tesla, and others.
Commodities. Conduct business in a wide range of commodities, some of which include gold, silver, oil, and natural gas.
Cryptocurrencies. Trade the most popular cryptocurrencies without having to actually purchase the underlying asset.
Access to the following cryptocurrency contracts for difference (CFDs) is now available through Skilling:
Bitcoin (BTC) (BTCUSD)
Bitcoin Cash in Full (XBNUSD)
When it comes to trading with Skilling, you will find that it has a specialized in-house trading platform to provide its consumers one-of-a-kind experiences. Because it can be accessed through a browser and has a straightforward layout, even inexperienced traders will have no trouble trading using this platform.
The software incorporates something in the neighborhood of 70 different trading indicators, which enables professional-level technical analysis as you trade. In addition, you have the ability to select the chart style that best suits your visual preferences, access your trading history and account balances, and navigate the markets with ease.
The putting of an order is a clean and simple process. You have the option of placing market or limit orders, in addition to establishing levels for stop loss and take profit for positions.
Skilling may be accessed in a variety of ways, including through a web browser as well as via Skilling cTrader, Skilling Trader, and Skilling MetaTrader 4. These applications are available for direct download from either the Google Play Store or the Apple App Store. Because the applications offer the same functions as the web-based platform, users are able to trade regardless of their location provided that they have a reliable internet connection.
If you connect to Skilling via the MetaTrader 4 trading terminal, you will have the ability to access sophisticated trading tools like as automated trading strategies, copy trading, and customized indicators. These services are accessible to professional traders who use Skilling.
Skillings Transaction Assistant is a tool that can be useful for novice traders since it guides you through placing your first trade while also providing an introduction to the fundamentals of trading.
Demo account: One can register a demo account with Skilling if they are a complete newbie or if they want to test out the platform before making a deposit. You may test out your trading techniques and get a feel for the platform by using the demo account, which provides you a virtual sum of USD 10,000 to use.
Because there is little possibility of harm occurring here, it is regarded as a secure location for first-timers. A demo account on Skilling may be used indefinitely, in contrast to demo accounts on other forex trading platforms.
On their website, Skilling offers users the opportunity to create a demo account. In the future, you may convert your trial account into a conventional one with only the click of a button if you decide that you enjoy using the service.
Customer support: Skilling has a customer support service that is immediately available and operates seven days a week from 8:00 AM to 9:00 PM Eastern Time (EET). They may be accessed by many different channels, including the following:
Cyprus's telephone number is +357 2227 6710
Telephone number in the United Kingdom: +44 208 080 6555
Norway: +47 2195 03000
Sweden: +46 40 6450 022
Telephone number in Germany: +49 322 2999 0101
Skilling is a CFD trading broker, which means that it does not own the underlying assets that are traded on its platform. This is because Skilling does not possess these assets. When you open a position with Skilling, all you are doing is placing a wager on whether the price of the underlying asset is going to move up or down between the time you start the position and the time you close it. Because this method of trading avoids several dangers related with bitcoin custody, you can be certain that hackers will not take your assets from the site. This gives you peace of mind.
Under the terms of a license that bears the number 357/18, the Cyprus Securities and Exchange Commission (CySEC) is the body in charge of overseeing Skilling's regulatory compliance. The acquisition of this license calls for a high level of security, which Skilling makes available by establishing a risk-free digital atmosphere through the use of SSL data encryption. This assures that your personal information and money are safe, as well as fair business practices.
Aside from that, Skilling possesses its own team of developers as well as its own support staff, which means that the organization is able to recognize any problems and swiftly resolve them. As a consequence of this, it is regarded as being a trading broker that is generally trustworthy and safe.
Transactions for deposits and withdrawals: Skilling provides a wide variety of fee-free deposit and withdrawal options, so there should be something that works for everyone. Visa & MasterCard, Trustly, Skrill, Neteller, Swish, and Klarna are some of the most convenient payment methods.
Is Skilling a reliable online platform to use? Skilling, an internet broker,
has only just just begun its presence on the market. According to our research,
the types of financial products that may be traded with Skilling include the
foreign exchange market (using major currency pairings), stocks,
cryptocurrencies, commodities, and CFDs.
As a result of the platform's intuitive navigation and user interface, the service is also catered to inexperienced users. Included in the deal is a feature called Trade Assisting, which makes it simple for new users to execute their initial transactions.
Skilling, a newly established CFD broker, is a pioneer in the industry. Skilling is a new broker that was established in 2019 and has its roots in Scandinavia. However, the company's headquarters are located in Cyprus. Anders Berglund, who formerly served as the managing director of Google Sweden, is in charge of running the business today.
Since the beginning, the objective has been to create a trading platform that is so user-friendly that even novice investors can make profitable investments with it. The conglomerate of businesses throughout Europe is responsible for the employment of more than 35 individuals. From their respective offices in Spain, Cyprus, and Malta, a group of marketers, developers, and specialists collaborate on projects.
The Skilling review demonstrates that traders at Skilling have had the opportunity to experience trading CFDs on more than 800 base values since the debut of the Skilling platform. These traders have also been able to do so with a relatively low minimum deposit. Is it possible that Skilling is not as transparent as it claims to be, or is there proof that Skilling is a scam?
Is Skilling legit? Despite having its roots in Scandinavia, the corporation Skilling is currently headquartered in Cyprus. Therefore, training is subject to regulation by the Cyprus Securities and Exchange Commission (CySEC), which in turn guarantees that the standards outlined in the MiFID directive are carried out across Europe.
Skilling, much like every other broker that is regulated by the EU, stores the money deposited by consumers in separate bank accounts from the capital that the firm maintains. In the case that the company declares bankruptcy, this shields the cash belonging to the customers from the demands of the creditors. In addition, Skilling is a participant in the Investor Compensation Fund (ICF), which is organized and maintained by Cypriot Investment Firms (CIFs). In the event that the parent business goes bankrupt, this provision ensures that the organization would reimburse each investment for losses up to 20,000 euros.
At the time that this study of the skilling was being done, no award had been won yet, and there had only been a few, albeit positive, mentions of the skilling in the trade press. You are welcome to make advantage of the free demo account provided by the broker in order to acquire a sense of who you are as a trader and to rule out any possibility of fraud.
The fact that Skilling is rather open and honest in comparison to many other brokers is yet another advantage of using this company. For instance, every three months, the broker will provide statistics on the executions and the quality of those executions. This is most likely at least in part owing to the fact that the corporation operates its own trading platform, and traders will only use a platform if they believe it to be reliable. Despite this, the fact that this step helps to openness and makes it simpler to evaluate the quality of the broker should not be discounted because of this.
For trading to be reliable, the trading platform must first be optimized for optimal performance. How does Skilling stack up against other trading platforms? Skilled traders are able to utilize their own trading platform, despite the fact that the majority of online brokers permit the integration of third-party software. In our Skilling broker review, we found that the trading platform has a straightforward design and a customizable dashboard, both of which contribute to the platform's overall appeal. In addition, a number of useful tools that may be utilized in order to conduct profitable trades have been incorporated. If you wish to place an order, you have the option of selecting one of several different order types, such as Limit Buy or Stop Loss.
On the Skilling trading platform, users have access to a wealth of information that might be of assistance to them in their trade. The current prices of any stocks, currencies, or commodities that are being traded are shown in a straightforward manner. In addition, readers are provided with a summary of the most recent events in the political and economic spheres. The trading program is compatible with desktop computers (Windows or elsewhere) as well as cellphones (Android or iOS). There is currently no distinct app for mobile trading that can be downloaded. However, the trading platform has been adapted for use on mobile platforms, making it possible to access all of the features and functionality of the PC version while using a mobile device.
The so-called Skilling Trade Assistant is one of the unique aspects of the Skilling system. This service is very helpful for beginners in the process of placing their initial transactions. They are taught the fundamentals of trading, and within a short period of time, they should be able to execute trades in the same manner as experts.
The layout of this online trading platform is really straightforward, and it is easy to figure out how to use it. Putting in an order is as simple as clicking a few buttons at most. With the assistance of the Skilling Trade Assistant, even novices will have no trouble navigating the platform.
The ordinary account is designed primarily with new users in mind. In order to make use of the account, you will simply need to make a deposit of $100. However, in order to get a premium account, you will need to pay $50,000.
The highest leverage that may be used in each of these trading accounts is 30 to 1. Because of this, traders are considered to be private clients in any scenario, and the broker is only permitted to provide them the maximum leverage authorized for private customers. In order to do this, they are afforded protection under regulations that apply across the EU. The underlying asset that you choose to trade also has a role in determining the maximum amount of leverage that you may use.
Both sorts of Skilling accounts have access to the ability to trade micro lots. The live trading account supports trading in the following currencies: US dollars, euros, Norwegian kroner, Swedish krona, and British pounds sterling.
Skilling also provides clients with the option to open a free demo trading account to utilize during their time with the company. Because it comes pre-loaded with 10,000 virtual units of the currency of your choosing, using it enables you to obtain a considerable amount of experience without running the danger of losing any of your money.
Altering the categorisation can also be accomplished by a very small number of individuals working together. Traders who make a request and submit an application have the opportunity to be categorized as "professionals." As a result of the fact that this is coupled with a reduced degree of protection, the trader is required to provide evidence that he is financially, as well as in terms of his expertise and experience, in a position to trade professionally and accurately evaluate the risk.
Customers are responsible for allowing the maximum amount of time for the processing of bank transactions. When applying for credit here, please allow up to three full business days for the process to be completed. Skilling, on the other hand, offers a guarantee of a credit within only one hour for every other means of payment. In addition, there are never any costs associated with deposits while using Skilling. In most cases, financial service providers can get by without it as well.
Payouts are frequently handled in a different manner. The client is not responsible for any fees associated with making their initial payment of the calendar month. At a minimum, EUR 12.50 will be added to the payout amount for each additional payment the broker processes. There is also the possibility that the consumer will incur additional expenses from the financial service provider. Because of EU-wide laws on the prevention of money laundering, it is frequently impossible to withdraw money using a form of payment different from the one that was used to make the initial deposit.
As a result, it may be beneficial to enquire about the withdrawal costs from the relevant supplier in advance.
In any case, a Skilling trader is required to authenticate their data and present a copy of their identification along with a utility bill before they are paid out. This is necessary not only for Skilling but for every other broker as well, since it is mandated by the regulations concerning the prevention of money laundering.
In recent years, there has been a rise in the number of people interested in utilizing cryptocurrencies. On the one hand, this can be explained by the fact that the value of a number of cryptocurrencies has increased drastically over the past several months. The price of a bitcoin has increased from a few dollars to more than sixty thousand dollars. The significant degree of volatility exhibited by cryptocurrencies has also contributed to their widespread popularity.
Users have the option to exchange Bitcoin, Bitcoin Cash, Ethereum, Litecoin, or Ripple while using Skilling.
As a result, Skilling provides access to a wide variety of underlying assets that may be traded using CFDs. Despite this, there is room for improvement in the offering, particularly with regard to virtual currencies.
The fees assessed by Skilling are mostly predicated on the sorts of trading accounts that a customer is utilizing. In most circumstances, trading fees are collected through spreads by Skilling. The difference between the purchase price and the selling price is not only attributable to the standard variations in market prices, but also to the additional trading charges that Skilling has added to the relevant course.
Because of this, trading is far more cost effective in the premium account. However, in comparison to the requirements of other brokers, Skilling requires a fairly large investment of $50,000 in order to open a premium account. In general, the broker does not provide the lowest possible trading costs, which is also something that novice traders who deposit $100 cannot anticipate receiving. Traders willing to invest $50,000, on the other hand, have the ability to discover cheaper providers.
Trading foreign currency and trading precious metals in the premium account are the two activities that are not subject to spread-based invoicing. In this situation, the commission for trading currencies and gold is $60 per million, while the commission for trading silver is $240.
The two account types do not nearly so drastically contrast one another in terms of the financing expenses. When financed through the standard account, EUR/USD has costs of -1.40000 and 0.47000 percent, however when financed through the premium account, these fees are now -1.3693 and 0.5007 percent.
In addition, the broker levies inactivity fees of $10 each time a year passes without any trading activity on the account.
The Skilling website serves as the starting point for communication with a broker because it is here that visitors receive their initial skilling experience. The breadth of information about their trading services is presented in a highly understandable manner, and the thorough FAQ - which is just one component of the Skilling Help Desk - provides responses to the most critical queries. This is also where you can examine the legal paperwork and get answers to any questions you may have regarding the various methods of payment.
Traders who have additional inquiries can get in touch with the support team on weekdays between the hours of 8:00 a.m. and 5:00 p.m. by calling a Cypriot number, or between 8:00 a.m. and 9:00 p.m. by using the live chat module on the website. Both of these options are available in Cyprus.
Users also have the option of contacting the broker through email; according to previous experiments, they will obtain a response to their inquiry within a period of twenty-four hours.
Is Skilling good? It is quite reassuring to know that the support team for the skilling review is fluent in Spanish, German, Italian, and Turkish. As a result, there are no communication issues to begin with, which is very satisfying. It is a positive indicator that Skilling is present when clients or other interested parties may send their inquiries to the broker at no additional cost and obtain a response in a short amount of time.
Is Skilling safe? In order for a new Forex broker to make a name for themselves in the industry, they will need to demonstrate to consumers that their funds are secure. There are certain internet brokers that are not regulated, and as a result, there is a chance that they may commit fraud on their customers. But this does not hold true for the skilling process. Is Skilling therefore a reliable platform? Yes!
It is not possible to commit a Skilling scam since the broker is supervised by the Cyprus Securities and Exchange Commission (CySEC), the country's local financial authority. In addition, client monies are kept in a manner that is completely distinct from the assets of the firm, making it feasible to make payments to consumers even in the event that the company declares bankruptcy.
This licensed broker has a presence on the professional social network LinkedIn as well as the personal social network Facebook. This indicates that consumers or interested parties can also contact Skilling via these channels if certain queries remain unanswered about the company's products or services.
Skilling's operations are overseen by the local regulatory body in Nicosia, where the company's headquarters are located. Hence, Skilling aims for fair, open and transparent trading.
After doing a thorough analysis of this relatively new provider's skilling, it has been determined that it is in no way inferior to the companies that it competes with. If someone asks you if there is a fraud involving Skilling, you may unequivocally respond with "No!" You can utilize the demo version to gain an understanding of the game if you still want to create your own thoughts on Skilling. After reading this, you will be able to formulate your own view of Skilling.
As was just said, Skilling provides two different account types, each of which varies in terms of the required minimum deposit as well as the other criteria.
In light of this, before to registration, you should educate yourself completely on the two models, and this recommendation applies whether you are a new client or a seasoned trader.
The support section features a lot of useful equipment. Skilling provides question-and-answer sections for any and all inquiries, so you may inquire about even the tiniest of inconsistencies.
You can get answers to your questions by phone, chat, or email. During the week, you may get in touch with customer service. The Skilling Broker review reveals no negative aspects in any way, shape, or form. Because of this, having more skills is beneficial. It is strongly recommended that you give this broker a try.
The service provider may be considered legitimate given that Skilling adheres to all of Europe's regulations and there are no additional expenses to worry about.
The feeling I get from this broker is far more favorable than negative overall. If you want to establish your own thoughts on Skilling, it is highly recommended that you try out the sample version that is available at www.skilling.com.
The conclusion of this Skilling evaluation will focus on how well Skilling performed, or more specifically, what the skilling rating seems to be. This review of Skilling addresses, among other things, the question of whether or not Skilling is a secure platform, the trading offer, the available trading platform, and the skilling fees and costs that are incurred during the course of trading. In addition, the question of whether or not Skilling is a secure platform is also addressed.
In the end, Skilling is compelling on all fronts thanks to his argument. Even in the event that MetaTrader is not utilized and the company develops its own own trading platform, Skilling may still be a broker that is suggested. Those who are just getting started with skilling may even get access to a free demo account here, which means they won't have to worry about making any mistakes or taking any unnecessary risks right away.
In the end, Skilling is an intriguing broker who deserves your trust provided that your personal requirements are satisfied.
Skilling is a registered online trading broker that provides clients with
access to more than 800 financial instruments across a variety of asset classes.
These asset classes include forex, shares, indices, commodities, and
cryptocurrencies, among others. They provide their customers both their own
user-friendly and intuitive trading platform called Skilling, as well as the
strong and professional platform known as cTrader. In addition to that, you may
trade on the popular MetaTrader 4 platform through them. The broker provides a
selection of account types, each of which requires a minimum deposit of one
hundred euros and features attractive spreads beginning at 0.1 pip increments.
Skilling is an online trading broker with headquarters in Cyprus that is owned by a company based in Scandinavia. The company's mission is to make trading easy and available to everyone in an atmosphere that is honest and safe. The broker gives traders access to a number of advanced trading platforms, such as Skilling Trader and cTrader, so that they may trade more than 800 products across a variety of markets. These markets include forex, shares, indices, commodities, and cryptocurrencies.
The broker has quick order execution rates (within 0.05 seconds), and its spreads begin at just 0.1 pip increments, making it one of the most competitive in the industry. Customers have the option of selecting from a number of different account types, each of which requires a minimum deposit of one hundred euros. There are no hidden fees, and all fees are shown openly and explicitly in the currency of the customer's account.
Under the CIF license number 357/18, the Cyprus Securities and Exchange Commission (CySEC) has granted Skilling Ltd. authorization and regulates the company's activities. In addition to this, they are subject to oversight by the Seychelles Financial Service Authority (FSA). Under the Reference Number (FRN) 810951, the Financial Conduct Authority (FCA) has granted Skilling Ltd. permission to conduct business in the United Kingdom through its branch there.
Skilling makes it possible for traders based in different regions of the world to open accounts with them, provided that the traders' home nations allow for online trading with foreign brokers. The broker does not work with customers from the United States.
Skilling gives traders access to a wide range of user-friendly and sophisticated trading platforms, which they may use to trade the numerous instruments that are available. The trading platforms include of their in-house developed Skilling Trader in addition to the highly developed cTrader and MetaTrader 4 trading platforms.
This particular trading platform was developed in-house by the broker. It is a trading platform that is simple to use and has a high level of intuitiveness. It offers several chart presentation choices, access to over 800 different financial instruments, and ultra-fast order executions (within 0.05 seconds).
The economic calendar that is included in the Skilling Trader platform keeps traders up to speed on the most recent events that have occurred in global markets and the impact that these events are projected to have. In addition to this, it features a variety of indicators and sketching tools that provide traders the ability to monitor the price changes of their trades as well as crucial market moments.
The Skilling Trade Assistant and the Skilling Academy are two additional services that are exclusive to the Skilling Trade platform. These tools were developed with the intention of enhancing the entire trading experience for both inexperienced and seasoned traders. Clients are able to trade on numerous platforms thanks to the Skilling Trade platform's complete online and mobile compatibility. These platforms include clients' desktop computers, the web, and the Skilling mobile trading app.
The cTrader platform is a more comprehensive trading platform that is designed to cater to the needs of professional retail traders as well as institutional clients who are seeking for a flexible trading solution. cTrader is a platform that combines ease of use and simplicity of operation with comprehensive order capabilities and features of customisation. The platform was developed by traders specifically for use by other traders, and it has a user-friendly interface that can be personalized with a variety of preset and detachable charts. Additionally, it enables you to complete orders utilizing sophisticated capabilities of cTrader.
Traders are given the ability to build their own script in C# so that they may use cTrader, which makes it feasible for them to do so. Clients may simply access all cTrader features from any major web browser, such as Chrome, Safari, Firefox, or Edge, and trade on any device without the need for a download. This includes Chrome, Safari, Firefox, and Edge. They may also get the cTrader app for their iOS or Android smartphones by going to the app store for that particular operating system.
MetaTrader 4, which has established itself as one of the industry standards for a number of years, is another trading platform that the broker provides for forex and CFD transactions. The trading platform has a comprehensive collection of indicators, charting tools, and personalization choices for the user's convenience.
There are no standalone trading tools to be found on the Skilling website; however, both the Skilling Trader and Skilling cTrader platforms come equipped with a vast assortment of built-in trading tools. These tools have been designed to meet the requirements of traders with varying degrees of experience.
The website for TheSkilling does not include any instructional resources; nevertheless, there is a help center on the website that provides some fundamental information regarding the commissions and leverage offered by the broker as well as instructions on how to make deposits and withdrawals.
Skilling provides nearly 800 financial products across a variety of asset types, including the following:
Forex: The broker provides over 70 different currency pairings, including major, minor, and exotic options, for clients to select from while doing forex trades.
Shares: There is a substantial selection of shares available, some of which come from well-known firms such as Amazon and Facebook. Other options, such as Alibaba and Netflix, are also available.
Indexes: The broker provides clients with access to a sizable selection of indices, including the S&P 500, Germany 30, the UK 100, Spain 35, and a great deal more besides.
Commodities: Skilling's trading conditions for commodities such as gold, silver, crude oil (West Texas Intermediate), natural gas, and crude oil Brent are among the most competitive in the industry.
Traders are given the opportunity to trade a variety of cryptocurrencies such as Bitcoin, Bitcoin Cash, Ripple, Ethereum, and Litecoin.
The broker makes available to customers a diverse selection of accounts, the specifics of which are determined by the customers' levels of expertise, trading strategies, and financial resources. The accounts provide traders with access to trade FX currency pairs, cryptocurrencies, indices, commodities, and stocks with a stop out threshold of 50 percent. Among the several sorts of accounts are:
Regular Customer Account: A minimum opening deposit of one hundred Euros is required for the Standard Account. It is possible to leverage your investment by up to 1:30, but there is no commission charged on trades. Spreads on this sort of account start as low as 0.7 pips and are available on both the Skilling Trader and Skilling cTrader trading platforms. In addition to several other competitive trading circumstances, it provides protection against negative balances.
Upgraded User Account: The Premium Account is designed for more experienced traders, since it requires a minimum opening amount of 5,000 Euros to be funded. It offers a modest spread, beginning at 0.1 pips, but the maximum leverage is just 1:30. Both the Skilling Trader and the Skilling cTrader trading systems support the Premium Account trading profile type. It provides access to trade more than 800 different financial items, and the cost starts at $35 per million dollars.
Accountant who works professionally: In contrast to the limitations imposed by ESMA on retail clients, professional clients are eligible to apply for professional accounts, which offer increased leverage of up to 1:30 for certain instruments and a reduction on current margin rates. This enables professional clients to trade with more leverage than retail clients, who are restricted in their ability to use leverage.
In order to be considered a professional customer, you are required to satisfy two out of the three criteria listed below: 1) Have a portfolio worth more than $500,000 (not including property or cash) 2) Have a track record that can be independently validated of successfully placing significant-sized positions (down to broker discretion) 3) You must have previous experience working in a professional capacity in an industry relating to derivatives, speculation, or trading. In order to be considered a professional customer, you must meet any two of these qualifications.
If you meet the requirements for a professional account, ESMA legislation considers you to be a professional trader and so removes certain benefits and safeguards from your account. It is essential that you be aware of this fact.
Free Trial Accounts: Demo trading accounts allow traders to practice their skills without the danger of losing real money. These accounts come with a certain amount of virtual currency already loaded into them. Before creating a genuine live trading account, it is advised that traders use the demo account so that they can become familiar with the platforms offered by the broker and practice their trading techniques.
Traders may reach out to the broker's experienced, courteous, and speedy customer support service whenever they have questions or concerns. They are available to react to the general, technical, and account-based questions that are posed by traders. Their phone service is offered from Monday through Friday, between the hours of 08:00 and 17:00 Central European Time (CET). Through the use of the live chat feature, which is accessible from Monday through Friday, 08:00 CET to 21:00 CET, you will be able to communicate with customer service representatives. Traders also have the option of sending an email to the customer support team, and within the space of a day, one of the specialists will respond to their inquiry.
The broker gives customers access to a comprehensive selection of deposit and withdrawal methods, which may include the following:
Bank Wire Transfer Credit/Debit Cards including Visa and MasterCard Online Payment Processors including Trustly, Neteller, Skrill, Klarna, and Swish Bank Wire Transfer Credit/Debit Cards including Visa and MasterCard
Regardless of the form of payment used, the broker does not assess any costs associated with deposits. However, there is a possibility that your bank or the payment service provider will charge you for this transaction. Skilling claims on its website that, owing to regulations on the prevention of money laundering, it does not take payments from any third parties. When it comes to withdrawals, the same rule applies: the broker may only pay money back to the individual who originally deposited it. It's possible that certain nations won't have access to certain payment methods, and the amount of time it takes to conduct a transaction will change according to the mode of payment that was chosen.
The process of opening a live trading account with the broker is uncomplicated and simple, and it consists of three quick stages. To begin, navigate to the broker's website, click on the icon labeled "sign up," then fill out the form to the best of your ability, being sure to include all of the necessary information.
The next step is to authenticate your identification by either enrolling for Bank ID or uploading the necessary documentation. When you are ready to make your first online trade once your trading account has been setup, funded, and approved, you can begin trading whenever you feel comfortable doing so.
Skilling is a registered online trading broker that provides clients with access to over 800 financial instruments spanning different asset classes for online trading using the company's in-house Skilling Trader platform as well as the more advanced cTrader and MetaTrader trading systems. The broker provides a variety of options for funding and withdrawing money from trading accounts, as well as a good selection of trading account kinds.
On the other hand, they do not provide enough instructional resources for their customers. In contrast to the majority of other ECN and STP brokers, the spreads offered by this particular broker do not begin at 0 pip increments.
Contracts for Difference (also known as CFDs) and forex pairs are the two
main trading product types that may be found on the Skilling platform. We also
list the minimum criteria for spread, leverage, and margin, despite the fact
that brokers such as Skilling have the ability to adjust these according on the
realities of the market. Skilling.com utilizes several levels of dynamic
leverage. This indicates that the maximum leverage available to a customer for a
traded asset class will decrease to the extent that the client's trading volume
Contracts for difference (CFDs) offered by Skilling are agreements between the trader and the broker in which the trader wagers on a change in value over a certain period of time without actually owning the goods. This type of financial instrument is known as a derivative. CFDs are available on a variety of assets at Skilling, including indices, commodities, cryptocurrencies, and equities.
Skilling is a fintech company with its roots in Scandinavia that was established in 2016 by Andre Lavold. The company aims to make trading more secure and accessible for traders of all experience levels, including novices. It has obtained valid licenses from the Seychelles Financial Service Authority (FSA) and the Cyprus Securities and Exchange Commission. Its headquarters are located in Nicosia, Cyprus (CySEC). The service gives investors the ability to trade more than 800 different contract for difference (CFD) and forex assets from all around the world, such as cryptocurrencies, commodities, indices, stocks, and currency pairings.
Trading may now be done by anybody thanks to Skilling, which provides a specialized platform for personal computers and apps for mobile devices running the iOS and Android operating systems. Users won't need to worry about losing out on lucrative possibilities when they trade while they're on the move thanks to this feature. More than forty outstanding people hailing from a variety of various professional backgrounds and geographical locations, such as Cyprus, Spain, Malta, and the Seychelles, make up the team. This group of professionals includes those who specialize in finance and marketing, as well as developers.
1. Join Up and Verify It does not matter if you are a newbie trader or an experienced trader as you will be able to sign up in a short amount of time. You will be expected to supply fundamental pieces of personal information such as your name, phone number, country of residence, and email address.
2. Make Your First Deposit After you have completed the steps in the previous section and activated your account, the next step is to make your first deposit, which will serve as your working capital for the time being. The minimum deposit required for a standard account is $100, whereas the minimum deposit required for a premium account is $5,000. If you want to open a standard account, you will need to deposit at least $100.
3. It Is Time to Trade Once you have completed the necessary steps to fund your account, it is finally time to begin trading on Skilling. You have the option of downloading the mobile app or using the web-based platform. We strongly suggest that you begin by reading through all of the training materials that are offered on the website, and after that, you should use a demo account to practice trading.
Although Skilling cannot brag about a heritage that spans more than a decade, the platform has placed a strong emphasis on two essential facets of trading, which has allowed it to carve out a niche for itself within the sector. The founders' initial goal was to make trading more accessible, and they have successfully accomplished this goal by rapidly expanding both its geographical and functional reaches. In other words, they have made trading more accessible. You can now trade all of the most common types of financial instruments and asset classes across a wide variety of devices, and you can do it from a variety of geographical locations.
Second, it established its reliability and trustworthiness by obtaining two extremely important licenses from regulatory bodies such as CySEC and FSA, all while maintaining a focus on the safety of its customers (traders). The service makes use of the most trusted procedures in the business to guarantee that your credentials, cash, and private information will never be compromised. It has gained a competitive edge as a result of its strong performance in fundamental areas.
Andre Lavold, Henrik Persson, and Mikael Riese, three prominent figures in the field of technology in Scandinavia, joined forces in April 2016 with the intention of revolutionizing both traditional and modern trading in order to lay the groundwork for what would later become the Skilling trading platform. In June of 2016, the company's first office was established in Malta, and in October of the same year, the trading platform entered the stage of having its design and development worked on.
Skilling began its hunt for outstanding individuals to fill key managerial positions in January 2017, with the goal of finding people who would be able to set the direction that the young firm would take. Under the month of May 2017, Skilling Ltd. was successfully formed as a company in the jurisdiction of Cyprus, and the month of August of the same year marked the beginning of the construction of its execution engine. The management team submitted the application for the CySEC license during the month of November.
Following the acquisition of an official CySEC license in March 2018, which made it possible for the firm to offer its trading services inside the EEA zone, its headquarters were established in Cyprus in February 2018. By September of 2018, significant enhancements had been developed and implemented across the trading platform in order to make trading significantly simpler for consumers. In addition, a Skill Academy and a Trade Assistant have been incorporated into the resources in order to provide assistance to novice and amateur traders.
The last step of quality assurance and testing for the trading platform was completed in April of 2019, which prompted the firm to expand its activities to the countries of the United Kingdom, Germany, Norway, and Sweden. By October 2019, the platform was live and functioning over the entirety of the EEA.
In April of 2020, Skilling capitalized on its rapid expansion and was successful in gaining a new official license from the Seychelles Financial Service Authority. This achievement was a significant milestone for the company (FSA). Because of this, the platform was able to extend its sphere of influence beyond the borders of the European Union.
Regulations and Safety Measures: Skilling is a broker that operates in accordance with the guidelines set out by the European Union and holds a current license issued by the Cyprus Exchange Commission (CySEC). Because of this, the company is unable to make any promotional claims or provide any offers to either its new or current consumers because such practices have been prohibited in regions inside the EEA and the EU. What this indicates is that all of the information that is provided on the platform is based on reality and can be relied upon. In addition to that, Skilling was just been awarded a brand new license by the Seychelles Financial Services Authority (FSA), which is an additional regulatory authority.
Because Skilling is working with these licenses, it is required to comply with all of the regulations that are prescribed by the involved authorities to safeguard the safety and security of its users and the cash that they have.
Is Skilling Safe?: Traders who are regulated by CySEC have a financial protective cover of up to €20,000 and also have negative balance protection, which means they cannot lose more money than they currently have in their accounts. This is because traders cannot lose more money than they already have in their accounts. In addition, Skilling is required to make its financial records public on an annual basis and to allow third-party audits in order to guarantee that the money paid by clients is kept separate from the money used by the organization.
In order to combat the practice of money laundering, it is mandated by law that merchants be asked for official identification documents that include their actual address. In addition to that, Skilling is a participant in the Investor Compensation Fund (ICF), which is evidence of its commitment to ensuring that a range of rules are adhered to.
When it comes to the online trading platform, the website promises powerful protection that is provided by Secure Socket Layer (SSL), which ensures that all of the user data is entirely protected while it is being sent. It indicates that even if the data is intercepted, hackers or other cybercriminals won't be able to decode it to get private and confidential information. This is the case even if the data is intercepted.
Reputation: It is fairly obvious that the trading platform has become extremely reputable due to the fact that it is easy, safe, and user-friendly. This is evidenced by the fact that Skilling was able to attract thousands of new amateur and professional traders to its platform within a few years of its introduction. It has not only extended its operations into various locations, but it has also added new financial instruments and assets for investors to trade so that they may diversify their portfolios. This allows investors to increase the potential returns on their investments.
It was able to secure an endorsement from Fulham FC by becoming their sponsor for the 2019/2020 season because to the exceptional reputation it has earned over the years. People from many walks of life are able to start trading on Skilling since its services are accessible on all kinds of platforms, including desktop PCs and mobile operating systems.
Is Skilling for Me? When you bring up a trading platform, people always respond with at least some amount of skepticism, as they should. This is because trading platforms are not without their risks. There are a lot of folks who have never traded anything in their whole lives who are terrified of losing their money because they feel intimidated by these platforms. On the other hand, experienced professionals frequently have doubts about whether or not a certain platform will provide all of the capabilities and granular controls that are necessary for them to maximize their revenue development.
In this article, we have analyzed the platform from the points of view of both novice traders and seasoned market professionals.
I'm a Beginner: There is a large variety of educational material accessible to newcomers to the world of trading who are just getting their feet wet in the industry. In addition, customers have the option of beginning their practice with a demo account, which enables them to become more familiar with the trading platform and acquire a fundamental understanding of trading without putting any of their own money at risk.
I'm an Expert: Skilling will also provide lots of tools for professional traders to utilize, which will allow them to capitalize on their expertise and experience. The unique platform is equipped with more than 70 indicators, such as MACD and moving average, which makes it simple for experienced traders to do technical analysis. Because of the extensive charting options and seamless connection with cTrader and MT4, expert traders won't have to worry about being let down by the platform in any way.
What are the Advantages of Using Skilling to Trade Cryptocurrency? Skilling gives traders the ability to invest in cryptocurrency contracts for difference (CFDs) of all of the most prominent tokens, such as Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple, amongst others. You are provided with narrow spreads and uncomplicated pricing, which enables you to attentively monitor your trades and optimize the profit margins you generate. Everyone, from new traders to seasoned pros, will have no trouble using the customized trading platform because it is so easy to use.
You may continue to trade bitcoin CFDs on your mobile device as well, thanks to applications for iOS and Android that are fully functional and feature-packed. You will never miss out on opportunities to make a profit if you have the ability to trade while you are on the move, and trading support and rapid order execution will guarantee that you get precisely what you are looking for.
There is not much of a spread on cryptocurrencies, with 0.2 percent on BTC and 1.6 percent on ETH. Coins like as NEO, IOTA, XMR, EOS, DASH, XRP, LTC, ETH, and BCH are some of the others that may be traded. You may always reach out to customer support with any questions or problems that you may have; they will be more than delighted to assist you in any way they can.
Charges and Expenses: Deposits are accepted at Skilling at no additional cost, and the spreads for basic accounts begin at 0.7 pips, while professional accounts begin at 0.1 pips. When you make a withdrawal using Skrill or Neteller, you will be subject to a fee of around 2% to 2.6% of the amount you withdraw, with a minimum withdrawal value of $50.
If you are interested in trading CFDs, the spread for the FTSE is 2 points, the spread for the GBP/USD is 0.5 points, the spread for oil is 6 points, and the spread for equities is around 0.1 percent on either side. When it comes to foreign exchange trading, the gap between GBP/USD and EUR/USD is 0.4 pips, while the spread between EUR/GBP and GBP/USD is 1.1 pips.
You will need to keep an eye on the particular pages pertaining to each asset in order to keep track of any and all additional financial instruments and assets. In general, the platform is pretty open and plain in terms of the fees and commissions, and it is renowned to not sneak in any sorts of hidden expenditures or costs of any other kind.
You can visit this website to obtain comprehensive information on the costs and commissions that are incurred. It contains all of the relevant facts as well as the formulae that are used to determine the various kinds of charges and fees applicable to the various categories of assets.
Within a very short period of time, Skilling has established itself as a reputable broker for trading CFDs, cryptocurrencies, stocks, and FX. Trading is made available using the company's very own unique platform, which strikes a good compromise between aesthetics and practicality. Skilling gives traders who want more control over their transactions the ability to integrate with cTrader in addition to MetaTrader 4, which is the industry standard. The service is platform-agnostic, which means that you are able to continue trading on any device that has access to the internet. If you are using a smartphone, the application may be downloaded for either iOS or Android, depending on the mobile operating system that you are using.
The spreads are not very high, and there is the option to use a trial account, which allows novice traders to become accustomed to the trading platform and experiment with a variety of trading techniques without putting their own money at risk. The user interface was developed to be straightforward and devoid of any extra features in order to give everyone the impression that they are welcome to sign up. This user-friendly design also eliminates any potential distractions, allowing customers to concentrate completely on their trading activities.
The watchlist is one of the most cutting-edge features that are currently available. There is a sophisticated dashboard provided here that shows a range of trading instruments, including their level of popularity, in addition to the country from where they originated. The watchlist can be altered to focus on certain deals or assets to be examined.
The news and calendars provide information on current developments, such as forthcoming changes and other events that might have a significant influence. Skilling Trade Assistant is an excellent resource for new users who have recently signed up for the platform.
Buying and Selling Platforms: Skilling, like many other trading services, provides its own custom trading platform to provide a unique experience that is more user-friendly in comparison to other platforms. This allows Skilling to stand out from the competition. It is a web-based interface that has an aesthetically beautiful design and provides a straightforward experience for the user. The business has done away with all of the difficult and frightening trade language and replaced it with its own own information that is aesthetically appealing and simple to comprehend.
Having said that, this does not imply that the proprietary platform lacks in functionality because it provides more than 70 performance indicators, some of which are advanced choices such as MACD and moving average, for the purpose of doing technical analysis on trades. The performance of an asset may also be given a visual significance with the assistance of the several types of charts that are accessible to traders. Integration with cTrader and MT4 is also offered for those traders who have a more sophisticated skill set.
Educational Instruments and Materials: The official website of Skilling features a database of information that has been vetted by Skilling and given the name "Help Centre." The service provides a wealth of knowledge and instruction concerning the fundamentals of investment trading as well as general tips and tricks for making use of the platform. You can get all of the information that you will want on the website, including commissions, leverages, withdrawal methods, and payment options. Skilling provides a comprehensive library of frequently asked questions (FAQs) and other materials that are always publicly available, in contrast to a number of its rival platforms, which may be accused of keeping its customers in the dark.
Skilling is actively putting in the effort to improve its cryptocurrency CFD trading experience for all types of users as cryptocurrencies emerge as a short- and long-term investment driver for traders all over the world. This comes at a time when cryptocurrencies are emerging as a driver for both short- and long-term investments. The platform already supports prominent cryptocurrencies like as Bitcoin, Ethereum, and Ripple, and it has plans to add even more alternative cryptocurrencies to its selection in the near future.
Different Types of Accounts Demo Accounts: This is for new users who are interested in becoming used to the appearance and feel of the platform as well as learning the specifics of how it functions. You may put your trading skills to the test with it, but you won't have to worry about losing any of your own money in the process.
Regular Customer Account: This is the kind of account that the vast majority of first-time traders who already have some basic experience with the market choose to open. The spreads are tight, starting at 0.7 pips, and the minimum deposit required is merely $100.
Upgraded User Account: Signing up for a premium account is something that traders who want to get the most out of their accounts should consider doing. You have the option to make a special request to the organization in order to create this account, which has a minimum deposit requirement of $5,000. The spreads begin at 0.1 pips, and further pips are added to the spread in addition to those that are already accessible due to the trading commission.
Skilling is a trading platform that provides the optimal combination of advanced functionality, user-friendliness, and safety, making it suitable for both experienced traders who seek full command over their orders and novices who are interested in getting their feet wet in the world of online trading. It is overseen by two of the most prominent experts in the industry, and its operations span many continents, with thousands of active members located in every corner of the world. In the short amount of time that the platform has been available to users, it has established a solid reputation for being able to provide users with an amazing experience at an unbeatable cost.
You will be able to locate practically every asset class there, from traditional financial assets like commodities to current trade drivers like cryptocurrency. Skilling is a trading platform that has only just begun to expand its operations but is now in direct competition with the industry's most well-known companies. Skilling can be the setting you have been seeking for if you are searching for a dependable trading platform that places a primary emphasis on the quality of the user experience and on the platform's own dependability.
Retail customers in the UK are unable to participate in bitcoin trading.
Skilling is a new generation of trading platform that is situated in Cyprus.
It has acquired popularity within the financial markets because to its
outstanding trading platform, which makes it simpler for novice traders as well
as experienced traders to trade. Skilling was founded in 2015. It provides
access to a wide variety of financial products that may be traded in more than
800 different marketplaces. The platform's costs are quite reasonable, and it
offers a great level of safety. In addition to this, it is subject to stringent
regulation by both the Cyprus Securities and Exchange Commission (CySEC), which
enables it to provide its services to all EEA countries, and the Financial
Service Authority in Seychelles.
The main purpose of the platform is to develop a trading environment that is accessible to traders of all experience levels, connects them to global markets, and ensures that they take full advantage of the possibilities that are available to them. Since this broker has been successful over the past few years in generating some buzz in the financial markets, we decided to investigate whether or not it is worthwhile to invest your money in order to determine whether or not you should do so.
Trading is designed to be easy and available to everyone, which is why skills were developed. It prides itself on being completely transparent, with all fees and other prices prominently posted on its site. The online broker provides more than 800 forex and CFD trading products, allowing customers to leverage their investments in a variety of assets, including cryptocurrencies, prominent commodities, stock indexes, and the shares of their preferred firms.
Every single one of a client's trades in Skilling is carried out without any involvement from the dealing desk, employing prices obtained directly from the market by way of respectable liquidity providers. This enables a high execution speed that is often below 15 milliseconds for the majority of deals.
Skilling is a financial technology firm that is owned by people from Scandinavia and operates out of Nicosia, Cyprus. The broker began operations in 2016, and it presently has roughly 40 people, including developers, marketers, and other professionals, who all collaborate from their respective locations in Cyprus, Malta, and Spain. CySEC and FSA are the regulatory bodies in Seychelles and Cyprus, respectively, for the broker.
Within its first four years of operation, the platform has solidified its position as the industry standard bearer in terms of both the forex and cryptocurrency markets. In addition to the trading services provided by top traders, it provides business owners and owners of blogs with the opportunity to become partners through Introducing Broker and affiliate programs. These programs enable individuals to make respectable sums of money based on the amount of business they bring in.
Skilling has entered into strategic agreements that will place the broker on the map of the world in order to improve its reputation all over the world. These include two major sponsorship partnerships with the Aston Villa football team, which plays in the English Premier League. The broker will gain from the sponsorships by receiving much-needed exposure to the more than 4.7 billion people who follow the English Premier League.
Following the completion of its initial launch in April 2016, the firm opened its first office and formally incorporated itself in Malta during the same calendar year. By October, planning and construction of the platform had already gotten under way. The search for candidates to fill senior management roles began in January of 2017, and by May of that year, Skilling Limited had been established in Cyprus. The platform was granted its license by the Cyprus Securities and Exchange Commission (CySEC) in March of 2018. In addition, the broker introduced its services in the countries of Germany, Norway, Sweden, and the United Kingdom in the month of July 2018. The broker was finally given permission to conduct business outside of Europe after receiving the FSA license in April of 2020.
Michael Kamerman serves as both the Chief Executive Officer and as one of the company's founders. Other key members of the management team include Michalis Kaarakatsianis as Chief Operating Officer, Fiona Soler as Chief Financial Officer, Pavel Spirin as Chief Compliance Officer, Andrew Haigh as Chief Information Officer, Lennart Clausen as Head of Trading, and Christoffer Hartman as Head of Legal.
Skilling provides access to a variety of financial markets, which may be gained through the use of its own proprietary software, known as Skilling trader, as well as two platforms developed by third parties: cTrader and MetaTrader 4. Users of Android and iOS have access to all three platforms through the web, desktop computers, and mobile devices. The trading platforms are distinctive in that they are designed to meet a variety of requirements. For instance, the Skilling Trader is not only easy to use but also quite effective; as a result of its user-friendly layout, it is appropriate for novices. There is also a Skilling Trade assistant available, which walks new traders through the fundamentals of trading and assists them in making their first transaction.
The cTrader is a sophisticated trading platform that focuses on order execution and charting capabilities. It is designed for traders that have high needs. Trade executions take an average of 0.05 seconds, which is the fastest in the business. It is lightning quick. While MetaTrader gives customers the ability to automate their trading with the use of expert advisors, this takes the responsibility off of your shoulders.
After completing the registration process and verifying your account, you will then be brought to the dashboard, which is the location from where you may make deposits and trade across a variety of marketplaces. In the event that you run into any problems, the customer support team is always there to assist you.
Swaps and commissions are the primary sources of revenue for the broker. You may trade with up to 30:1 for major foreign exchange, up to 20:1 for big indices, minor foreign exchange, and gold, up to 5:1 for stocks, and up to 2:1 for cryptocurrencies on the site.
Skilling generates revenue by adding a small fee to each deal it facilitates. Spreads, swaps, and commissions are the means by which these are obtained. Spreads are the difference between the ask price and the bid price, and they typically begin around around 0.7 pip. Swaps are fees that are charged for overnight positions that are held. They are also known as rollover costs, and the premium account is the only type of account that incurs commissions for foreign exchange pairings and spot metals. A fee of $35 is imposed for every million dollars worth of EUR/USD that is transacted. The commission per million exchanged is as follows: $40 for GBP/USD trades, $50 for Rest FX trades, $60 for gold trades, and $120 for silver trades.
Concerning swaps, the cost may be favorable or unfavorable based on the nature of your deal and the rate that is in effect at the time. Your Trade Ticket will indicate whether the transaction is likely to result in a charge or a credit. This fee will be automatically deducted from your account, and once deducted, it will be translated into the base currency of your account. From Monday through Friday, the value of swaps is computed and applied once each day, with the exception of Wednesday, when they are computed and applied three times to account for the weekend.
The proportion of the price that is added on top of the exchange rate for cryptocurrency is how swap fees are determined (0.04 percent ). The broker, on the other hand, cautions customers that swap costs are not set in stone and may shift on a daily basis without prior notification depending on the state of the market.
Up to this point, we have gained an understanding of what this broker is all about, the benefits and drawbacks it provides, and how it generates revenue. In the following sections, we will take a closer look at a number of different facets of the platform, including how it is regulated, the distinctive features it provides, how deposits and withdrawals work, and even how to get started using it.
Regulation, Licenses, and Security Skilling is governed by the license issued by the Cyprus Securities and Exchange Commission (CySEC) with the number 357/18, which was granted in May of 2018. Under license number SD042, the FSA is also responsible for its regulation in Seychelles. The broker is required to store all customer money in separate bank accounts in accordance with the regulations. In addition to this, the money of investors are safeguarded by the Cypriot Investment Firms through a mechanism known as the Investor Compensation Fund (ICF) (CIFs). This indicates that the organization will provide compensation to investors in the event that the parent firm goes bankrupt.
As of the 6th of January, citizens of the UK are prohibited from trading crypto CFDs as a result of new FCA rules.
Countries That Have Been Helpful With Skilling: Skilling is permitted to operate in a lot of different nations all over the world since it has a lot of different regulations and is very secure. The United States of America stands apart as an exception. Our hypothesis is that this is due, at least in part, to the absence of oversight provided by the SEC. Visit the official website and go through the drop-down menu on the signup page to see whether or not your nation is supported. You may accomplish this by clicking here.
Is There a Risk in Skilling? The website and trading platforms used by Skilling are both protected by SSL encryptions, which prevent unauthorized parties from accessing sensitive information before it is transmitted over the internet and encrypt it before it is sent.
Important Services and Numerous Other Features: The following is a list of some of the remarkable features that are available on the Skilling platform that you will find appealing:
Responsive customer support. When you first enter the Skilling website, you will see a chatbox in the bottom right corner. If you type your queries into this box, you will be able to get assistance from the Skilling support team. You will receive rapid response if you choose this option, which is why it is recommended for situations in which you have pressing questions. In the event that the live chat feature is unavailable, you may still contact us by email and expect a response within twenty-four hours. You are also free to phone them up if that is something you would like. Only during business hours are phone calls and the live chat option accessible to customers.
Gaining access to a variety of markets. The fact that Skilling offers a wide array of assets that may be traded is one of its many appealing features. You have access to more than 800 different financial instruments, some of which include cryptocurrencies, currency pairings, indexes, commodities, and shares of some of your favorite firms.
Access to three trading platforms that are of the highest caliber in the world
Skilling utilizes its very own trading software in addition to cTrader and MetaTrader 4, all of which are industry leaders. You may trade on your preferred markets from the convenience of your own home using any of the three platforms, which can be accessible via the web, mobile devices, or desktop computers. You will discover that each of the platforms is quite straightforward to use and provides lightning-fast order executions.
Highly regulated and guaranteed safety. When looking for a broker to help you increase your money, the safety of your investments should be your first priority. However, even having good security measures in place, a platform might still be fraudulent, resulting in a financial loss. Here is when regulation enters the picture. Any legitimate broker operating within the sector is required to be regulated by a number of bodies based in a variety of nations. This is the situation with Skilling, which is regulated by both the FSA and CySEC and has comprehensive security measures to secure the cash of its users.
The availability of a wide variety of research instruments. You will have access to a portion of the trading dashboard that will allow you to examine the most recent news and events that are taking place in the markets in which you are participating. There is a list of forthcoming high-impact events that might potentially have an effect on the pricing of the market's assets. In addition to that, Trading View provides its users with an economic calendar.
Apprenticeship programs are available through the Skilling academy.
Trading novices, intermediates, and even seasoned professionals may all benefit from taking use of Skilling's educational resources available through its school. When it comes to trading, information is more valuable than money, therefore no matter what your skill level is, there is always something new for you to learn. You will discover how to find the greatest deals and compete successfully in the market here.
Skilling is compatible with the following cryptocurrencies: Skilling is one of the few top brokers that support a wide variety of crypto currencies, making it an attractive option for investors. There are now 10, and they are as follows: Bitcoin (BTC), Bitcoin Cash (BCH), EOS, DASH, Monero (XMR), IOTA, NEO, Ripple (XRP), Ethereum (ETH), and Litecoin. Bitcoin (BTC), Bitcoin Cash (BCH), EOS, DASH, Monero (XMR), IOTA, NEO, and Litecoin (LTC).
Trading Platform Skilling is home to three of the industry's most reputable trading platforms. It utilizes the services of two third parties, cTrader and MetaTrader 4, in addition to its own unique software, which is known as the Skilling trader. The Skilling Trader provides a trading platform that is easy to use, one of a kind, and extremely strong. This platform caters to the requirements of both novice and experienced traders. You may access it through the web, a desktop application, or a mobile app. Additionally, it is simple to use and can carry out transactions at breakneck rates. This trader can be readily connected with the cTrader, enabling users to trade effortlessly across both platforms while maintaining a single trading account.
Skilling cTrader is a cutting-edge trading platform that was developed to fulfill the most stringent requirements of traders who are extremely demanding. Its integration on Skilling helps unleash a more powerful trading platform, which features advanced trading capabilities such as code customization and rapid entry, in addition to a great number of additional indications that assist users in making better trading selections. If one uses the trader, they will have access to more than 800 different financial products and will not be charged any commission or other hidden expenses.
Over the course of the previous 16 years, MetaTrader 4 has solidified its position within the industry as the primary trader for foreign exchange and CFDs. It provides unrivaled customizing options with a vast selection of plugins, in addition to automatic trading with professional advisers, which enables the user to experience the benefits of hands-free FX and CFD trading.
Taking a Quick Look at the Skilling Trading Platform: You may access the Skilling platform through the browser version, the desktop version, or the mobile version, as we have discussed above.
Skilling's Policies Regarding Deposits and Withdrawals: On Skilling, you may make deposits and withdrawals using a number of different methods, all of which are free of charge. However, there is a possibility that additional costs will be assessed depending on the service provider that you employ. The methods of depositing and withdrawing money also differ from one location to another and are governed by a different set of rules. In addition, the method you select will determine how quickly the money is deposited into your account. When it comes to bank transfers, the process might take up to three full working days. The processing time for payments made using credit and debit cards, Skrill, and Neteller is typically one hour.
To begin, the following is a list of the several methods of payment that are acceptable to Skilling:
Directa Klarna Bank transfers
PayR, AstroPay, CoinsPaid
The Bare Minimum That Skilling Requires as a Deposit
On Skilling, the minimum required deposit for a basic account is 100 units of the base currency, while the minimum required deposit for a premium account is 5,000 units.
Skilling imposes a minimum transaction size for all cryptocurrency trades. When it comes to cryptocurrencies, Skilling does not impose any limitations on the smallest amount of money that may be traded. The trader is the only one who can determine the unit, and their choice is solely dependent on how at ease they are.
Skill-Based Commissions and Spreads: The fees associated with Skilling are determined on the type of account you select as well as the trading platform you use. On the regular account, there are no fees charged, and the expenses of trading are calculated based on spreads beginning at 0.7 pips. When compared to the market as a whole, where the EUR/USD exchange normally draws 1 pip, these costs are relatively competitive. The premium account has interbank spreads that start at 0.1 pips and a fee rate of $35 for every million that is transacted.
However, if you compare Skilling's CFD costs to those of other leading brokers, you may find that Skilling's are more expensive. However, there are several instruments that are offered at reasonable prices. Before determining whether or not to trade with this broker, it is helpful to explore other things first, given that the fees associated with trading are not the only thing to consider when selecting a broker.
Procedure for Obtaining Skill Certification: The registration process on Skilling is both simple and quick. Visit the platform's official website and look for a button labeled "get started." Clicking on that button will be your first step. You will then be led to a screen where you will be required to provide your phone number, email address, and password in addition to choosing your nation of residency, selecting the currency you would like to use as the base currency, and choosing your country of residence. After you have successfully created the account, you will be sent to a page where you are required to finish the registration process by providing personal details such as your name and address, as well as your trading experience and financial information. After that, you will be required to verify your identity by uploading a government-issued ID or passport in order to complete the process. In order to verify your address, please provide a recent utility bill. Because it is regulated, this makes it easier for the trader to comply with AML laws. On the Skilling platform, users have the option of choosing between two primary account types: personal and business. The regular account and the premier account are the names of these two types of accounts. In accordance with the standards set out by ESMA, the basic account needs a minimum deposit of one hundred dollars and provides a maximum leverage of one and a half. The premier account provides a number of additional perks, one of which is incredibly reduced commission fees for successful transactions, but it needs a minimum deposit of 5,000 dollars to open. It is common knowledge that the sort of account that you choose to use should be determined by the amount of expertise that you now possess. Therefore, those who are just starting out in the world of investing are strongly urged to do so on the Skilling platform by creating a regular account.
Your official names should be shown in a clear and legible manner on any proof of address documents that you give, and the address that you gave throughout the registration process should be accurate and no more than six months old. They are as follows:
Bank statement Credit card statement
Bills for electricity, water, or gas; council tax; tax letters or bills; bills for phone service; bills for the internet.
How to Engage in the Transaction of Cryptocurrencies Using Skilling: To engage in cryptocurrency trading on Skilling, you will need to complete the following five steps:
First things first: sign up for a Skilling account.
Step 2: Find the cryptocurrency that you want to acquire and do a search for it.
Step 3: Select the "Trade" menu option.
Step 4: Enter the appropriate amount of your initial investment.
Step 5: Select "Buy" from the menu.
Within a short period of time, this broker has been able to solidify its position as one of the most successful CFD brokers in the world, particularly in the areas of forex and cryptocurrencies. Because of its low costs and quick transaction executions, the platform has garnered a lot of interest from market participants. Because of the high level of security it offers and the regulation it adheres to, even huge corporations and organizations are comfortable utilizing it. Not only are traders enthusiastic about Skilling, but so are businesspeople since they have the opportunity to profit from its very profitable partnership and affiliate programs. This unblemished reputation contributes to its overall allure, as does the fact that there hasn't been a single instance of hacking or trouble with authorities so far.
This broker is for anybody who is searching for an easy-to-use platform where they can conduct their trades without feeling stressed out. The user interface has been nicely developed, and there are a large number of educational and research resources available.
Skilling is a successful and fast expanding broker that utilizes an
innovative business strategy. The financial technology firm has been in business
for over a decade, and its headquarters can be found in Nicosia, which is
located on the island of Cyprus. The broker provides exceptional trading
conditions for experienced traders in terms of the functionality of the platform
and the variety of instruments available; nevertheless, the broker's minimal
instructional content may not meet the requirements of novice traders.
Because Skilling Limited has been granted a license by the Cyprus Securities and Exchange Commission (CySEC), it can confidently assert that it abides by all of the requirements that are applicable in Europe. The Seychelles Financial Services Authority (FSA) has granted a license to Skilling Seychelles Limited, the company's second entity. This foreign regulation is considered to be somewhat more lax.
Although there are no fees associated with Standard accounts, the spreads that the broker charges are wider than the norm in comparison to the rest of the industry. In addition, the broker does not charge any costs associated with making deposits or withdrawals, nor does it charge an inactivity fee.
Skilling's clients have access to a significant number of trading possibilities because to the company's extensive instrument offering, which includes more than 900 different financial products. The many account types offered by the broker are designed to cater to the requirements of the majority of traders, and the user-friendly and feature-packed trading interface contributes to an overall improvement in the quality of the trading experience.
On the other side, there are not a lot of supplementary materials on the website, and they are mostly summarized. The instructional portion of the broker's website does not dive deeply into the nature of trading beyond teaching some fundamental principles and there is not a lot of regular market material that is provided by the broker.
We conducted an analysis of Skill across 9 areas (Trust and Stability, Fees, Tradable Instruments, Account Types, Deposit and Withdrawal, Research, Customer Support, Education, and Platform and Tools).
Because of its stringent licensing and control, Skilling received a score that was significantly higher than average in our Trust category. Given that it is licensed by the CySEC, we assessed that the company's principal entity, Skilling Limited, is dependable and trustworthy. On the other hand, Skilling Seychelles Ltd is subject to FSA regulations that are far less stringent.
Because it offers such a wide variety of different ways to trade, the broker received a good grade in the area that was dedicated to tradable instruments. In addition, the user-friendliness of the broker's platform was rated nearly excellent, earning it an almost perfect score.
Skill had a low score in the Fees area, in addition to receiving low marks for Research and Education.
We discovered that the broker has spreads that are more expensive than the average for the industry, and its instructional resources are few and lacking in information. In addition, both breadth and depth are lacking in the limited market research materials.
In spite of the limited teaching and research resources, Skilling may be considered a sort of broker that is beneficial to beginning traders because of its great trading platform. They will have access to a vast library of trading indicators as well as charts that are both adaptable and simple to operate, allowing them to conduct in-depth research into the dynamics of the market.
An plethora of trading possibilities will be made accessible to more experienced traders, and they will also appreciate the advanced platform's capability of facilitating the performance of in-depth technical analysis on the data they collect.
Copy Trading is another service that Skilling provides, and any trader may
take use of it.
Because of the high degree of openness that it maintains, Skilling is a broker that creates an impressive initial impression. It appears to have a strong interest in delivering its tale in a manner that is both entertaining and unique.
When you go to the area of Skilling's website titled "About Us," you will see that it has been filled with the names and images of the people who work there. This contributes to an even greater increase in the total level of openness. One gets the idea that Skilling tries to establish a deep sense of trust in its customers from the very beginning of their relationship with the company.
Skilling is a highly regulated broker, making it a dependable business partner for everyone. We discovered that experienced traders in particular may benefit from the multifarious tools that Skilling provides in order to carry out in-depth technical assessments. They are also able to use the approximately 900 instruments to diversify their strategies by acquiring exposure to a variety of marketplaces, which they may do by using the instruments.
Those who are just starting out in the business of trading may get a head start on their endeavors by making use of Skilling's many trading platforms, such as Skilling Trader, cTrader, and MetaTrader 4, which all provide favorable trading circumstances. Alternately, they have the opportunity to profit from social trading, which is facilitated through Skilling's Copy trading tool. It gives you the ability to imitate the deals that are carried out by more seasoned traders.
When conducting a regulatory review of a broker, our primary focus is on the licenses that have been granted to the individual organizations that make up the broker. These organizations often deal with customers residing in a variety of geographical locations, which requires license from the respective local authorities. We use a method with three tiers to rate the different categories of rules, with tier-1 being the regulation that is of the best quality.
Our research led us to the following conclusions on the two entities that make up Skilling, as well as their respective licenses and regulations:
Under the CIF license number 357/18, the Cyprus Securities and Exchange Commission (CySEC) oversees Skilling Limited's operations as a regulated company. The tier-1 regulation that pertains to licenses is handled by CySEC.
The Financial Services Authority (FSA) has issued Skilling (Seychelles) Limited the license number SD042 and given it the authority to authorize and regulate the company. According to our classification scheme, the Financial Services Authority of Seychelles (FSA) is considered to be a tier-3 offshore regulator.
Why Is It Necessary to Be Aware of the Jurisdiction That Regulates Your Broker's Subsidiary (Entity)? Regulation and jurisdiction might seem very different depending on where you are in the world, as was just described. Therefore, in order to conduct business with customers located in other countries, brokers must get several licenses. Because the variances in the regulations have the potential to compromise the overall safety and protection of traders, it is imperative that they have a comprehensive understanding of the specifics of these variances.
The following is a rundown of the factors that traders need to think about before choosing an organization to collaborate with:
Client monies are kept separate from other funds. There are a number of reasons why the money belonging to customers and the money belonging to the business should be held in different bank accounts. First and foremost, this eliminates the possibility of mistakes in accounting as well as theft. Both of Skilling's organizations are in compliance with this criteria.
Protection against a negative balance. Skilling will close any losing positions that have the potential to sustain losses that are greater than the account balance. For margin trading, which magnifies both gains and losses due to the use of leverage, negative balance protection is an absolutely necessary feature.
Method of financial compensation Even in the event that the broker goes bankrupt, the monies that traders have deposited with Skilling Limited are guaranteed to remain safe. Take note that the Seychelles firm does not participate in such a compensation program; as a result, customers are put in a position where they are vulnerable to credit risk.
Standard leverage. A typical leverage of 1:30 is provided to retail traders by Skilling Limited, whilst Skilling (Seychelles) Limited offers a leverage of 1:500. Execution of trades using the latter method would result in gains or losses that are sixteen times greater than those generated by the earlier method.
Is it a Good Idea to Invest in Skilling? The two different parts of Skilling each offer a different level of protection. Because Skilling Limited is regulated by CySEC, customers who come from countries that are part of the European Economic Area (EEA) are able to take advantage of the highest level of safety that is made available by the firm.
On the other side, the FSA guarantees a less stringent and more lax regulatory environment, which makes Skilling Seychelles Limited a riskier enterprise. The fundamentals are covered by the offshore laws, such as maintaining customers' cash in separate accounts and ensuring that negative balance protection is in place. On the other hand, there is no kind of remuneration, and the leverages applied to all assets are quite large. The exposure that traders have to the potential losses caused by adverse market swings is increased when they use a higher leverage.
Stability and openness to the public: When conducting our evaluations under the Trust category, we take into account a variety of aspects, including those pertaining to stability and transparency. In this section, we concentrated on the length of time that the broker has been in business, the size of the organization, and the degree to which they are transparent in terms of the information that is easily accessible.
Because all of the pertinent information is displayed in a manner that is both clear and concise on the Skilling website, the company received an average grade in the stability and transparency categories. The firm has been around for the past six years and currently has over seventy employees.
The website has been thoughtfully organized and is simple to use, with the majority of the material being contained into a few primary sections. Because the majority of content is accessible with no more than a few mouse clicks, even traders with less expertise may swiftly traverse the site.
In conclusion, our research shows that Skilling should be considered to have an average degree of trust and stability due to the following factors:
Skilling Limited is in compliance with the industry norms since it possesses at least one license issued by a top-tier regulatory agency (CySEC).
possesses a proven track record of expansion throughout the company
On the website, you may view the members of the management team.
In light of the fact that retail traders are required to pay above-average spreads on the majority of the most popular trading products when using a Standard account with Skilling Limited, we came to the following conclusion: This is true across the board for all asset classes, from foreign exchange to stocks and indexes. On the other hand, customers of Skilling are not required to make any commission payments in order to have trades executed.
When it comes to expenses associated with activities other than trading, there is no such thing as an inactivity fee, and Skilling does not levy any fees on deposits or withdrawals. However, payments from a third party can be required in some circumstances.
Using a Standard account with Skilling Limited, we examined the spreads at the London open at eight in the morning (UK time) and immediately after the U.S. open at two forty-five in the afternoon (UK time). These are the moments with the highest volume of trading activity.
The spreads offered by Skilling are considered to be floating, which indicates that the broker derives its liquidity from third-party suppliers like banks and other financial organizations.
This is significant since spreads tend to move about as a result of variations in the volume of trading activity that occurs during the day. In most cases, spreads will widen dramatically throughout the morning session, and then they will start to narrow again just before the American market opens.
Swap Fees: The expense that a trader incurs for maintaining an open position overnight as a result of fluctuating interest rates is known as a swap charge. The figures that are shown here are representative of one complete contract worth of the base currency (100 000 units).
The fee that is deducted from your credit or debit balance for maintaining a purchase position open overnight is referred to as a swap long. The costs or credits that are deducted or received for keeping a selling position open overnight are referred to as swap short.
When the data was collected, we discovered that Skilling's swaps, which are often referred to as rollover costs, were higher than usual. It is important to keep in mind, however, that these are subject to change, particularly when the underlying market uncertainty decreases over the course of time.
Fees Not Related to Trading: There are no expenses associated with inactivity, which means that traders should not be required to pay fees even if they do not place any orders for a lengthy period of time because these costs do not exist. There are also no costs associated with deposits or withdrawals; however, traders who choose to use Skrill or Neteller may be subject to fees charged by those third-party services.
Are Skilling's Rates Among the Lowest in the Industry? Our investigation led us to the conclusion that Skilling charges rates that are higher than those typically seen in the market. This is the result of several causes that contributed to the problem. The primary reason for this is that Skilling's floating spreads are affected by the volatility of the market at the moment.
Prices have a greater tendency to change significantly as the market becomes more unpredictable and volatile. Because of this, financial institutions boost the rates at which they provide derivatives, which in turn leads the majority of brokers, such as Skilling, to be paid higher fees by the liquidity providers they employ. In a nutshell, the degree to which the market circumstances influence the competitiveness of Skilling's spreads, in particular, is directly proportional to the overall state of the market.
Aside from that, a Standard account with Skilling does not incur any trading commissions or fees, and the company does not charge any costs for making deposits or withdrawals. However, costs from other parties can be incurred.
In this particular criterion, Skill fared really well, obtaining a score that was very close to being perfect. The trading experience provided by this broker is one-of-a-kind and all-encompassing as a result of the incorporation of several well-known platforms. These are supplemented by a vast selection of tools that are able to cater to the individual trading styles and preferences of each customer.
The versatility of its purpose-built platform does not come at the price of its functionality, and the platform itself is extremely simple to traverse. Charts are taken straight from Trading View, which is widely regarded as one of the finest online resources for charting available today. Chart artists who wish to perform a thorough investigation of price activity from a variety of perspectives will find that TW-powered charts are particularly well-suited to their needs.
Traders who have some experience under their belts may also put their skills to the test on cTrader or MetaTrader4, which are two of the most often used platforms. Beginners, on the other hand, have the option of using Skilling's Copy trading, which enables them to replicate the trades of more experienced traders who already have a successful track record.
For the purpose of this evaluation, we analyzed the performance of the Skilling in-house platform using a Standard account, and we did it utilizing the Skilling platform itself.
The fact that everything is arranged in such a clean manner and has a straightforward logic contributes to the overall simplicity of using the Skilling platform in its entirety. Your account information can be located in the upper right corner of the screen, while the extra data required for a more in-depth analysis of your account's performance can be found on the left side of the screen.
The instrument watchlist, which is located adjacent to the settings menu, gives you a straightforward and expedient way to access all of your preferred trading instruments. It covers the most relevant information, such as the ask price and the bid price, as well as the daily percentage change in the price of an asset.
The chart has been meticulously cleaned, and it is of a sufficient size to provide a perspective that is both clear and succinct of the price activity. As was just said, the charts on Skilling are provided by Trading View, which is known for providing some of the most advanced and innovative charting solutions in the business.
The platform is equally useful for novice traders who want to learn about charting in an environment that is simple to navigate and more experienced traders who require a variety of indicators and drawing tools to carry out in-depth technical analyses. Both groups of traders can benefit from using the platform.
Charts: The charts on Skilling's unique trading platform are extremely user-friendly, packed with relevant information, and most importantly, supply all that is required to carry out in-depth technical assessments. Trading View is responsible for generating the charts that are displayed on Skilling, and the platform's ease of use may be attributed to Trading View's extensive collection of tools and accessories. The following is a list of some of the most significant benefits offered by Skilling's charts:
Alternatives for modifying the chart. Eleven distinct interpretations of the price activity may be found among the available options. These include the more typical lines and bars, in addition to the more complex varieties, such as Heikin Ashi, Renko, and Kagi.
Indicators. Over 80 different indicators are made accessible on the platform, making it possible to cater to the requirements of even the most unorthodox and one-of-a-kind chart artists. This is where the platform's extensive library truly shines. Skilling has all the indicators you could want, from the fundamentals such as moving averages to the more advanced and obscure ones such as the Klinger Oscillator.
Drawing tools. Because the platform has more than 70 distinct drawing tools, it is incredibly simple to analyze any and all sorts of market situations, from broad trends to specific ranges. The Fibonacci retracement levels, Elliott impulse waves, linear channels, and other drawing tools are among the most widely used on this platform.
Orders: The platform enables the execution of the many order types that are
most often used. Long and short orders can be placed at a different price level
by traders who are trying to gain entrance only if specific conditions are
satisfied before they do so. Market orders can be executed at the spot level for
Traders can also improve their positions by using trailing stop orders or set stop losses to reduce the risk that is inherent in the market. Therefore, the incorporation of a set take profit order would make it possible to guarantee that a transaction would be closed at a certain price level.
Traders now have more freedom thanks to the addition of the ability to place new orders right from the chart.
Skilling Mobile App: The mobile application for Skilling keeps many of the features and the overall atmosphere of the desktop version of the platform. This is a significant achievement considering that mobile applications frequently struggle to depict intricate and comprehensive charts on smartphones with poor resolution, which typically lowers the overall quality of the information that is provided.
The program can be downloaded from both the Apple App Store and the Google Play Store under its official name, Skilling Trader. It is compatible with Apple's iOS as well as Android-based mobile devices. The Android operating system was used for the test that we ran.
Ease of Use Across the Board: The fact that Skilling's app manages to give a clear and condensed image of the market despite the little area available was the aspect of the app that impressed us the most. Everything, from instrument watch lists to sketching tools and indicators, is organized in a way that makes it simple and quick to find what you need. When it comes to practicability and effectiveness, the mobile app for Skilling comes as near as it possibly can to obtaining the same degree of precision that one could anticipate from the desktop version.
The ability of Skilling's program to populate charts with several indications
at once, without compromising the integrity of the charts' overarching
presentation, is the app's most significant benefit. In general, trading
applications have difficulty depicting intricate and comprehensive charts on
low-resolution smartphones; however, this is not as significant of an issue in
this particular instance.
The following is a list of some of the most important chart features that the Skilling app offers:
The movement of prices. Traders have eleven options to pick from when it comes to depicting the price movement, giving them the flexibility to choose between lines and bars.
Indicators. The mobile application, much like the desktop version, has more than 80 distinct kinds of indications. On the other hand, it is important to note that not all of them appear to be of the same high quality on mobile devices with low resolution as they do on the desktop version.
Drawing tools. The app has access to the same seventy drawing tools as the desktop edition; however, the desktop version excels in this regard, making the app appear less impressive overall. When it comes to drawing intricate wedges or channels, having to do it on a small screen will never allow for as much precision or accuracy as it would on a larger screen.
When it comes to the execution of orders, the software that Orders Skilling offers is really useful and simple to operate. It just takes a few clicks to place market orders, whether they are straightforward or complicated pending orders. Traders have the option of enhancing them with trailing or fixed stop orders, based on the unique market circumstances and the preferences they have.
The mobile app does not fall behind the desktop version in this particular respect, which is a positive development. On the contrary, it possesses a significant benefit that the other option lacks. Traders are able to use the mobile app while they are on the move, which is particularly helpful when you need to make sudden changes to your open positions or spot a good opportunity but you are not sitting in front of your computer. Traders can use the mobile app to access their accounts, view charts, and make trades.
Because it provides access to a diverse range of financial instruments, Skilling receives a good score in this category. In addition to a remarkable variety of stock and index options, there is a plentiful supply of foreign exchange pairings, both main and cross pairs. The addition of cryptocurrencies, on the other hand, will almost certainly be welcomed by traders who are not as sensitive to risk. The Standard account provides traders with access to more than 900 different instruments to trade with.
When new instruments are made accessible on the platform, traders are able to take advantage of a larger degree of flexibility and freedom. Retail traders may be certain that they will always have sufficient alternatives to choose from thanks to the comprehensive selection of instruments offered by Skilling's Standard account. The overall market circumstances are constantly shifting.
What exactly are CFDs? Contracts for difference are a type of financial derivative that provide traders the ability to bet on the price of a certain item without actually having to deliver the instrument. To put it another way, it is possible to trade with the price of a commodity, such as gold, without actually needing to buy or sell bars of gold.
You may increase your market exposure by using the leverage that is provided to you by your broker when you engage in margin trading with CFDs. This advantage is in addition to the fact that the trading process is simplified. However, although the leverage multiplies the profit potential of your transactions, it also increases the risk that you might lose money as a result of those bets.
This is the asset class on a Standard Skilling account that contains the most amount of diversity, since it contains over 700 distinct share options. This constitutes the vast majority of all of the tradable instruments. The broker also provides a reasonable number of foreign exchange pairings and cryptos; as a result, investors may select assets that have varied risk/reward ratios. What is needed is an increase in the quantity of commodities. Skilling traders are limited to just a few types of metals and one or two types of energy commodities due to the fact that there are only six inclusions.
On March 27 at nine in the morning Central European Time (CET), we finished the test for our customer assistance. The 'About' portion of the main page of Skilling was used to access the live chat, which is a little bit puzzling given that there is another area on the website named the 'Help Centre.' Although the second option would have been the more sensible one, this does not constitute a significant problem.
We inquired about Skilling's availability of swap-free accounts, commonly known as Islamic accounts, and received a response just a few seconds after posing the question. We were also provided with a link to extra information, which demonstrates that the personnel there is competent and willing to assist customers.
On the website that details the various payment methods accepted by Skilling, it is stated that all deposits are processed immediately, however the processing of withdrawals might take up to one business day. Neither deposits nor withdrawals are subject to any fees; however, customers who use Skrill or Neteller may be subject to a processing fee of up to 2.9 percent from the company that handles payments. Trustly offers the widest variety of choices when it comes to the base currency used in transactions.
There are four primary account kinds available on Skilling. We discovered that they were adapted to meet the requirements of a variety of traders, including retail and professional traders, as well as novices and seasoned professionals. Skilling further provides swap-free account options. The score that the broker received in the Account types area was really close to ideal.
Creating an account is a simple process that can be finished in a matter of minutes. The fact that Skilling requests your TAX ID or TIN information practically immediately is indicative of the firm's compliance with the various financial requirements, despite the fact that this request is unusual for most brokers.
The Standard account offered by Skilling requires a minimum initial investment of one hundred euros, making it more appropriate for inexperienced traders and smaller retail businesses. And with spreads beginning at 0.7 pips, their costs will range from being extremely cheap to being about average. In comparison, more experienced traders who are interested in trading bigger volumes may find that the Premium or MT4 Premium accounts better suit their needs. They will be able to take advantage of spreads beginning at 0.1 pips with a minimum initial deposit of 5000 EUR. However, in addition to that, they will be responsible for some commissions based on the amount of trades.
Why is it Necessary to Select the Appropriate Type of Account? The sort of account that you go with is quite significant for a number of different reasons. Trading is primarily about making calculations based on numbers. Your overall and per-transaction expenses, as well as your non-transaction costs, will have a direct correlation to the size of your net earnings. This shouldn't come as a surprise, but there are a few more crucial considerations to take into account. For instance, the degree of adaptability and independence that you have access to will be proportional to the number of instruments that are supported by the platform.
We did some research and came to the conclusion that the Standard account, on average, provides the highest level of flexibility and efficiency for the lowest feasible cost. This was our conclusion based on the realism of the situation. This is the case due to the fact that, much like a standard MT4 account, it does not incur any commission fees. On the other hand, in contrast to the latter, it provides access to a far wider range of trading products. In addition to this, the Skilling platform is more intuitive to use than MetaTrader 4.
Although the spreads on a Standard account are wider than those on a Premium account, the minimum deposit requirements for a Standard account are lower. As a result, a larger number of traders are able to open and use Standard accounts. It is also important to note that although though the highest leverage across all account types is 1:200, this is reserved just for traders with professional experience. Retail traders will be granted a leverage of 1:30, unless the client specifically requests to be categorized in a different category.
Skilling further provides social trading and swap-free accounts, which are also referred to as Islamic accounts. The latter choice is appropriate for experienced traders who may wish to benefit by making their trading systems available to others. This choice allows traders to sell their trading systems to other people. In addition to this, it is highly common among novice traders who wish to replicate the trades that are carried out by the most successful traders on the platform. This makes it a very popular choice.
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What does it mean to leverage CFDs? In a word, leverage is the factor that determines how exposed you are to the whole market. You are trading on margin, which is given by your broker, whenever you trade Contracts for Difference, often known as CFDs. Through the use of leverage, the broker is essentially providing you with a loan of margin so that you can establish larger positions. Your successful trades will result in a greater overall return thanks to the use of leverage. Therefore, the losses you sustain as a result of losing trades will also have the same margin applied to them in order to double them.
Let's say you have 5000 EUR to put into a Skilling Premium account when you first sign up for it. If you are considered to be a retail trader, the leverage that you have access to is 1:30. As a result, your overall market exposure will be thirty times larger, which is equivalent to one hundred fifty thousand Euros. The greatest leverage available to professional traders is 1:200, which means that their market exposure on a 5,000 EUR account is equivalent to 1,000,000 EUR.
Depending on how carefully and properly you utilize it, your leverage has the potential to either be your best friend or your worst adversary on the market. Traders should constantly be aware that the greater the leverage, the greater the impact of tiny price movements on their account balances. This is something that they should keep in mind at all times.
Skill Required for Opening an Account Process: The process of creating an account is pretty straightforward and takes fewer than ten minutes to complete. The following is a rundown of the critical actions you will need to carry out along the way:
Step 1: While you are on the homepage, navigate to the top right corner of the screen and select the "Sign Up" icon. You will be required to fill in personal information such as your name, address, and any personal tax or identity numbers that you may have.
Step 2 requires that you provide details about your previous career, as well as your expertise with trading and investing. This is done to determine whether or not you are qualified to trade on a retail or professional level.
Step 3: Before the process of creating an account can be finished, you will be given many questions to verify the amount of knowledge you now possess. One of these questions will be "what is leverage."
Step 4: After that, a confirmation email will be sent to the address you provided. You will need to validate your email address after clicking on the link, which will then enable you to log in to your account. After you have done that, you will be prompted to carry out the remaining steps of the verification procedure. You will be required to provide a photograph of your driver's license, personal identification card, or passport.
Why Is It Necessary to Have a Demo Account? The sample account functions very similarly to a business card for the broker. It gives prospective customers the opportunity to evaluate the broker's services in a risk-free setting. You will get the opportunity to test out the many features of the platform, as well as the speed and accuracy of the transaction execution, as well as other essential parts of the broker's services.
In addition, the demo account is an essential educational tool for both novice traders and more experienced market participants. The first group may use it to sharpen their abilities without running the risk of losing money, while the second group can use it to polish their abilities and enhance the parameters of their trading techniques by using a demo account.
Countries That Encourage Skill Development: Skilling Limited is available for usage by merchants located in nations who are participants in the European Economic Area (EEA). Skilling (Seychelles) Limited is available to serve international customers; nevertheless, this company is not governed by tier-1 regulations.
Skilling was given a poor grade for the total research that it gives to its customers. Even if it just provides the barest essentials in terms of educational resources, we believe that only seasoned investors should utilize them. The study conducted by Skilling, on the other hand, does not cater to the requirements of first-time traders, who may demand a more comprehensive degree of help.
Even if there are some fascinating opinion pieces, which are essential for traders who use fundamental analysis, they alone are not sufficient to paint a comprehensive picture of how current market sentiment is now positioned. There is no breakdown of the market, nor is there any news of fundamental economic changes. In addition, there is no video material or a schedule of economic events. Skilling, on the other hand, provides webinars in Spanish.
Research Instruments: There are three primary categories of research tools available on Skilling. You may get to those by going to the website and looking under the 'Trading Articles' section:
Insights into the market Trading analyses are another term that may be used to describe this. They contain fundamental information on a certain financial instrument, as well as a chart that outlines a possible trade setup to go along with the information. These are highly enlightening on the major support and resistance levels that traders need to keep an eye out for in the market.
Dealing with various articles Opinion essays written by Skilling offer a deeper philosophical perspective on contemporary issues. These materials do not necessarily provide a lot of practical information about potential trading opportunities; however, we found them to be quite useful because they represent original takes on current market developments. This is despite the fact that these materials do not necessarily provide a lot of information about potential trading opportunities.
Information about the company. These are issues that directly influence Skilling customers but do not have any bearing on the market as a whole.
Skilling's educational system, much like the company's research, is plagued by a dearth of variety and insightfulness. We observed that the instructional resources offered by this company only covered the fundamentals of trading, and there were no videos available to supplement the textual pieces. These resources might be a useful addition to the toolkit of more experienced traders; but, novices should not expect to make use of them alone. Because of this, Skill was given a poor rating in regard to this particular criterion.
Skilling Academy is the name of the educational part that can be found on the Skilling website. To gain access to it, click on the 'Trading' option that is located on the main page. It is organized into five distinct but interconnected instructional areas, each of which contains a number of individual courses. The fundamentals of the analysis are broken down in the first category of this study. The study of the fundamentals of technical analysis is broken down into its component parts in the following three sections. The final part offers a comprehensive review of everything.
Each session focuses on a different topic, such as how to make use of moving averages or Ichimoku Clouds, or just offering a fast summary of the most significant economic concepts that are utilized in trading. The classes have a straightforward format that is simple to understand; nevertheless, the topics they cover are somewhat limited, and as a result, we do not recommend them for beginners.
The training resources provided by Skilling are more of a dictionary that explains the most significant trading ideas than they are an in-depth investigation that delves deeply into the complexities of trading. Even said, more experienced traders may discover that using them to their advantage. For instance, they might use them as a reference to trading particulars, such as how to compute Fibonacci retracement levels or how to apply the Average Directional Index. Additionally, they can use them as a reference to market analysis, such as how to interpret moving averages (ADX).
Skilling is a broker that is well-regulated and has a business plan that is both practical and transparent. It provides its customers with a wide variety of trading instruments at charges that are higher than normal. Although it offers a variety of account kinds that can meet the requirements of most traders, the instructional and research materials it provides are, for the most part, limited in extent and breadth. On the other hand, its outstanding trading platforms are ideal for investors that depend significantly on technical analysis. These traders will find these platforms very useful.
CySEC has granted Skilling Limited a license, which guarantees that the company complies with the industry's most stringent regulatory standards. Traders from nations that are participants in the EEA can engage in risk-free activity with the broker. However, its second firm, Skilling (Seychelles) Limited, which is governed by the FSA, possesses a license that is somewhat less stringent. Because of this, it is possible that foreign merchants will not have access to the same degree of protection, such as that provided by the Investors Compensation Fund (ICF), for instance.
A Skilling Standard account gives traders access to more than 900 different trading products, giving them a significant amount of freedom of choice that is ideally complimented by the professional platforms that are at their disposal. These two characteristics are without a doubt the most significant benefits that come along with working with Skilling.
The overall high trade expenses are a drawback associated with this situation. The spreads on a Standard account are higher than usual in comparison to the market as a whole, despite the fact that there are no commissions involved. Another disadvantage of working with Skilling is that there is a very little number of research and teaching resources available.
It is expected that more experienced traders will gain from collaborating with Skilling than will novice traders. They have a great deal of flexibility of choice and may diversify their holdings on a Standard account by trading in any of the hundreds of foreign exchange pairings and equities available to them. And Skilling's platforms, which are loaded with drawing tools and indicators, will surely meet the requirements of even the most advanced chart artists that are now working in the industry.
Beginner traders are still able to take use of these benefits, but because Skilling's teaching and research materials are lacking, they will not be able to acquire a significant amount of knowledge regarding the dynamics of trading. On the other hand, novice traders may find the social trading option on Skilling appealing because it enables them to replicate the transactions carried out by more experienced investors.
Skilling Licenses Skilling (Seychelles) Ltd is approved by the Financial
Services Authority of Seychelles with license number SD042, and Skilling Ltd is
authorized by the Cyprus Securities and Exchange Commission with registration
Skilling is a fintech firm that is built on STP performance. It was founded as an approachable, easy-to-trade and navigate the trading platform and brokerage that allows both novices and seasoned traders to participate. It was first formed in Malta, but later relocated its headquarters to other countries after being established by a group of IT entrepreneurs from Scandinavia.
Although Skilling's headquarters are located in Cyprus, the company serves the legal department in the United Kingdom and expands its offerings via an international corporation that is based in the Seychelles.
The broker kept a well-rounded trading proposition by providing access to popular and sophisticated trading tools such as MT4 and cTrader, in addition to the availability of more than 800 different trading products. In addition, Skilling built its own own software, known as Skilling Trader, to ensure that the technical solutions provided are of a high quality, that the conditions are clear, and that they let traders to concentrate on performance.
The Good and the Bad of Skill: Skilling gives traders access to a wide variety of trading instruments as well as technical tools that allow for low-risk trading. We allow access to a wide variety of trading platforms, in addition to sophisticated research tools, and account opening is simple.
The absence of multi-currency accounts, which might result in additional costs for financing, the absence of education, and the difference between the international proposal and the EU-regulated one are all drawbacks of this system.
Skilling, despite the fact that it is still a relatively young participant in the world of brokerage, has already established a positive image and is presently a main partner in the sponsorship of Fulham F.C.
Because of its licenses and other legal responsibilities, Skilling is a reliable broker. However, it is important that the company's activities conform with the applicable trading regulations and globally recognized financial standards in order to safeguard its customers.
Is Skilling legit? Before beginning operations, Skilling obtained a Forex trading license from CySEC. This demonstrates that Skilling complies with the European Securities and Markets Authority's (ESMA) standards and protective measures. Skilling was initially founded in Malta, but it later relocated its headquarters to Cyprus.
In addition, Skilling was granted permission to lawfully conduct business in the United Kingdom on account of its existing branches located in a number of different nations, including the United Kingdom. In conclusion, Skilling is subject to regulation in each and every nation in which it provides its trading service.
In addition, there is a license from an offshore jurisdiction in the Seychelles, which offers more in the way of simple registration than stringent control; nonetheless, other licenses from recognized authorities make the Skilling business a trustworthy one.
Regulated Forex brokers are also well-known for the possibility to leverage positions, which has the potential to raise your gains as well as your earnings. Yet, leverage acts in both directions making earnings and losses greater correspondingly. Because of this, authorities all over the globe set maximums on the amount of leverage that can be used.
Leverage limits are also established by the Skilling organization through which you will trade. This is because European legislation dramatically lowers the allowable leverage for ordinary clients to 1:30, while professionals are authorized to utilize greater levels of leverage, up to 1:200. You may find further examples for European customers and customers from the UK down below.
However, because Skilling has made its offering available to a global audience through an international branch that is based in the Seychelles, creating an account with that organization will enable you to employ larger leverage levels, up to a maximum of 1:500. However, make sure you educate yourself on how to effectively employ leverage and handle the considerable risks that are involved.
Standard accounts come with a spread basis, while premium accounts are based on ECN Account execution and offer raw spread offering together with commission fee per million exchanged. Both types of accounts have their own distinct characteristics. You will only be required to establish a single account, and you will be able to trade on any platform of your choosing with the Standard account option. These platforms include MT4, cTrader, and Skilling Trader, all of which will be discussed in greater detail in our Skilling Review.
However, the Premium account did not include MT4 in the proposal. Despite this, we do not consider this to be a significant constraint because we believe that cTrader and proprietary platforms may be even more suitable for active traders and day traders.
Skilling trading fees and pricing model are primarily based on spread charge; however, be sure to verify correct conditions as fees are based on the account type you select and may be slightly different according to the trading platform you will use. Skilling trading fees and pricing model are primarily based on spread charge.
Standard account conditions, since the vast majority of traders will choose this option, which incorporates all charges into a spread and begins at 0.7 pips. In point of fact, foreign exchange and currency pair costs are rather competitive when compared to those of other industries, which normally stand at 1 pip for EUR/USD.
A Premium account will provide interbank spreads beginning at 0.1 pips and will have a fee of 35 dollars per million transacted, both of which are very competitive pricing structures.
CFD charges: When compared to the costs charged by other brokers offering similar services, such as those listed below for the spreads on gold and oil, the CFD fees may be slightly more expensive. However, depending on the instrument, some spreads may be good ones, while others may be slightly higher. Because of this, it is important that you consider all of these points and determine whether or not Skilling is good for you in general, as the quality of a broker is not only about trading costs.
You may trade on a variety of markets with Skilling, including popular currency pairings as well as minor ones, CFDs on stocks, indices, energies, and metals, and ten different cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, and more.
Although Skilling allows a variety of instant deposit and withdrawal options, which are also supplied with no commission costs, it is possible that certain fees may be payable depending on the jurisdiction and individual method chosen. Aside from that, deposit methods change according to the legislation, and some of them are only available to customers from other countries; thus, it is important to educate yourself on the subject of monetary dealings.
Deposit Options: Deposits are visible within an hour, unless they are made using Trustly or a bank transfer, in which case the transaction might take up to three business days to execute. In general, Skilling does not charge any fees associated with deposits or other internal fees.
Electronic Wallets, Bank Wire Transfers, Credit Cards, and Debit Cards from Trusly Neteller and Skrill International merchants will soon have access to other payment options, such as fasapay, AtroPay, swish, and directa, amongst others.
Skilling minimum deposit: The minimum required for the Skilling Standard account is $100, while the Skilling Premium account requires $5,000. Also, make sure you're aware of the appropriate margin requirements, which are often determined on an individual basis for each trading item.
Withdrawals: The possibility of skipping withdrawals enabling customers to withdraw funds via the traditional banking methods and credit card options that have been the most used up to this point.
In terms of trading platforms, customers have their option between market giants MetaTrader4 and formidable cTrader, as well as Skilling Trader, an in-house designed proprietary application that is also highly advanced.
Therefore, there is a genuinely good selection of platforms, allowing you to choose the one that is most suited to meet your requirements while yet providing access to all platforms with a single set of login credentials. Despite this, the MT4 platform is not supported by the Premium account.
Skilling Traders is software that was developed specifically for traders by traders, and it is a platform that is entirely web-based. Additionally, it has its own mobile application, which enables users to keep informed when they are on the move. Desktop versions of cTrader and MT4 are suggested for more thorough research, despite the fact that these systems also offer web trading.
Desktop platform MetaTrader4 is a great option for every trader since it has been the most used program for more than 16 years, it enables automated trading, and it offers a vast selection of plugins.
Learning cTrader is recommended for more experienced traders because of the platform's well-known complex and strong capabilities, extensive range of indicators, and professional risk management features, all of which may be accessed via the C# algorithmic trading option.
Apps that are free, easy to use, and compatible with iPhones and Android smartphones, supporting all platforms that are available, and allowing users to maintain control no matter where they are. Overall, Skilling unquestionably fits all trading requirements, regardless of the size or type of the trader you may be, and our Skilling Review indicates that this is a little bit of a plus for the platform.
Assistance to Customers: You will receive support that brings customer care in several languages that is available 24 hours a day, seven days a week, and also supports international phone lines, live chat, and email support. This assistance will also come with the very advanced trading conditions. In point of fact, as we continue to evaluate Skilling, it has quite a decent score for the quality of its service and replies swiftly.
Skilling provides a free Demo account as well as some nice research tools that are incorporated into the trading platforms that you pick, along with a News Feed. In addition, Skilling gives you the option to subscribe to their News Feed. Because each of them possesses a unique set of skills, it is in your best interest to put your plan to the test and choose which tools are most suited to your needs; despite this, we consider it to be an exceptionally good option.
However, very beginning traders will not receive the necessary education support, learning courses, webinars, or fundamental analysis at Skilling. As a result, if you still prefer to trade with the broker, we recommend signing up for an extensive education course with another provider or checking out brokers that are geared toward beginners.
In general, despite being a relatively young competitor in the broker industry, Skilling has already obtained a very positive reputation and offers trading circumstances that are among the most competitive. One of the most appealing aspects of its proposition is the provision of a wide range of trading software, all of which can be accessed through a single account. This trading software can be one of the market-leading platforms or a customized one. While the help center is extremely prompt, professionals will receive an advanced proposal that also includes solutions that are suited to their needs. The single potential disadvantage, however, is a dearth of educational resources and materials; as a result, newcomers starting from scratch will need to look elsewhere for webinars and classes to attend.
Sites like Skilling in the UAE
Here is a list of quality Forex, CFD, Stock and Crypto Brokers for new and professional traders living in the UAE:
- Olymp Trade - People simply love this one (Olymp Trade Review)
- Binance - World's largest cryptocurrency e-wallet and exchange that also has an online trading platform, where their members can invest or trade in virtually hundreds of cryptocurrencies and new tokens. (Binance Review)
- IG Markets UAE - UK broker located at Tower 2, Level 27, Al Fattan Currency House, DIFC. (IG Markets UAE Review)
- City Index Middle East - London-city broker with a branch in the UAE. (City Index Middle East Review)
- eToro - Social trading platform, but much better options are available out there. (eToro Review)
- Swissquote - It's a Swiss bank that offers an online trading platform for forex and CFD trading. (Swissquote Review)
- easyMarkets - Israeli brand that is big all over. (easyMarkets Review)
- Forex.com - Google ranks them in the top 10 for the term "forex". (Forex.com Review)
- Plus500 - UK brand that has its own platform, OK for CFDs, with mediocre reviews. (Plus500 Review)
- AvaTrade - Regulated by ADGM's Financial Services Regulatory Authority (FSRA) in Abu Dhabi. (AvaTrade Review)
- FXCM.com - Oldest brand when it comes to retail online forex trading. (FXCM.com Review)
- Mashreq Neo - An online trading platform provided by Mashreq Bank. (Mashreq Neo Review)
- ForexTime (FXTM) - Owned by Andrey Dashin from the Alpari broker fame. (ForexTime FXTM Review)
- Noor Capital - Licensed and Regulated by the UAE Central Bank and SCA. (Noor Capital Review)
- XM.com - XM broker is big in Africa and South East Asia, and now promoting themselves hard in the UAE. (XM.com Review)
- Saxo Bank - Danish Investment Bank with a long history of catering for premium forex investors. It also provides crypto trading facility. (Saxo Bank Review)
- Pepperstone - Originally Australian, but licensed locally by Dubai Financial Services Authority. (Pepperstone Review)
- CMC Markets - UK-based broker that is popular among CFD traders. (CMC Markets Review)
- ETX Capital - UK broker that has a decent reputation among Arab investors. (ETX Capital Review)
- Interactive Brokers - American online-trading broker that is expanding into Asian and Arab markets nowadays. (Interactive Brokers Review)
- Rakuten Securities - Japanese broker that usually looks out for large institutional investors. (Rakuten Securities Review)
- Dukascopy Bank SA - Swiss bank that offers online forex trading on its own proprietary platform. (Dukascopy Bank SA Review)
- IQ Option - It's a below-average broker with no Dubai office, but does have a toll-free virtual number for UAE: 800 032 0891 -> No Arabic, English only. (IQ Option Review)
Reviewed by Arpita Singh
Arpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.