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Skilling Review 2022

Author: Hassan Maishera Updated: July 19, 2022

Skilling, a Scandinavian-owned internet trading broker with its corporate headquarters in Cyprus, promises to make trading accessible to everyone in a fair and safe setting.

With Skilling Trader, cTrader, MetaTrader, and Skilling Imitate, the company offers users a fantastic selection of trading platforms for traders of all experiences.

They provide plenty of options with 900+ trading instruments available across numerous markets, including FX, stocks, indexes, commodities, and cryptocurrencies. In addition to this, the broker offers affordable spreads that begin at just 0.2 pips and quick order execution times.

With a variety of account types to select from and a trial account option, if prospective users want to try them before committing, Skilling makes the onboarding journey for newcomers easy. There are also no unforeseen fees, and all charges are shown up front in the currency of the user's account.

Overall, we consider Skilling to be one of the highest-rated brokers, that has developed and set the bar with cutting-edge products and services since its inception.

History of Skilling

Skilling was founded in April 2016 by technology titans Andre Lavold, Henrik Persson, and Mikael Riese Harstad with the goal of transforming conventional and modern trading.

Skilling began building their team in January 2017 and my by August of the same year they began their product development.

After establishing its main office in Cyprus, the firm was allowed to provide its trading platform in the EEA region in from March 2018, after obtaining an official CySEC license. By September of 2018, the trading platform had undergone significant upgrades that had been put into place to simplify trading for users greatly.

Skilling took advantage of its rapid expansion in April 2020 by successfully obtaining formal registration with the Seychelles Financial Service Authority (FSA). This made it possible for the platform to operate outside of the European Union.

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1
Min. Deposit
$10
Promotion
User Score
10
Accepts customers from the USA
Deposit $100 and get a $10 bonus!* Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
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Description:
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Payment Methods
Bank Transfer, Wire Transfer
Full regulations list:
CySEC, FCA
Cryptoasset investing is unregulated in some EU countries. No consumer protection. Your capital is at risk.

Pros & Cons

Pros

More than 900 CFD instruments are available, spread over seven asset classes
Excellent pricing and implementation at the affordable costs
Buy or sell without paying commission
Spreads that are competitive starting at 0.2 pips
Free practice accounts for beginners
Account registration is swift and straightforward
High-quality multilingual customer support

Cons

Less learning resources
Unaffordable spreads for scalpers
Falls short on trading tools compared to competitors
Not accessible to all countries
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Is Skilling for Me?

New users find the idea of a new trading platform intimidating. Seasoned professionals are sometimes dubious about a platform's ability to provide all the capabilities and fine-grained controls they want to enhance their profit development.

We have examined the platform from both the viewpoints of experienced traders and newcomers.

I'm a Beginner

Various training options are accessible via Skilling for people just getting started with trading. Additionally, users may begin practicing with a demo account, better familiarizing themselves with the platform and learning the fundamentals of trading without risking their own money.

I'm an Expert

Professional traders may use their expertise and experience using the capabilities available on Skilling. More than 70 indicators, such as MACD and moving average, are available on their proprietary platform, allowing experienced traders to conduct technical analysis without any difficulty. In addition, professional traders have nothing to worry about thanks to the variety of charts and connection with cTrader and MT4.

Payments Methods and Limits

There are several quick and versatile deposit and withdrawal methods available at Skilling. The platform also has its limitations for transactions.

Accepted Methods of Deposit

  • Bank Transfer Using Credit or a Bank Card
  • Skrill
  • Neteller / Trustly / Swish / Klarna

Limits on Minimum Deposit and Withdrawals

  • a $100 minimum down payment
  • $50 is the minimum withdrawal amount
  • There is no upper withdrawal limit

Performance, Features and Functionality

Skilling has established a solid reputation as a broker for dealing with CFDs, cryptocurrencies, and FX. Trading is made available through its customized platform, which successfully maintains a balance between form and function.

Skilling enables users to interface with cTrader and MT4 for those who want more management over their transactions. Since the service is platform-neutral, users can keep trading on any computer or device with an internet connection.

Users can download the app for iOS or Android depending on their smartphone's operating system.

Trading Platforms

With the Skilling trading app, you get instant access to the most renowned shares, indices, commodities, and currency pairings around the whole globe. In addition, the app provides a complete selection of over 900+ CFD trading instruments.

Select from various instruments, including well-known investments like gold, the EUR/USD, and the S&P 500, as well as well-known stocks like Google, SpaceX, Moderna, Alibaba, and many others.

Forex: Users can pick from more than sixty different forex currency pairings, comprising major, minor, and exotics.

Shares: A wide range of shares are available, including those from well-known corporations like Microsoft and Facebook.

Indexes: The broker offers a good selection of indices, including the S&P 500, Germany 30, the UK 100, Spanish 35, and many others.

cTrader

The cTrader platform is a larger trading platform designed for institutional clients and professional retail traders searching to provide a flexible trading solution. Despite offering sophisticated order capabilities and customization tools, cTrader is still a simple tool to use.

The platform has a user-friendly layout that can be personalized with several preset and removable charts.

Finally, the cTrader platform's ability to enable your code in C# allows you to create trading script for automated analysis and execution.

MetaTrader

Skilling provides MetaTrader, a Forex & CFD trading platform that has long been recognized as one of the industry leaders.

Since it was created in 2005 by MetaQuotes, MetaTrader has become the standard in forex trading. The platform offers various indicators, charting tools, and customization choices.

Compared to other trading platforms, MT4's key advantage is that it is extremely flexible and simple to configure.

Additionally, the platform's large user base makes help readily accessible. It offers a vast selection of trade algorithms that traders may utilize, making it perfect for automated trading.

Educational Resources

Skilling offers a large collection of instructional resources for free.

With the help of the guides, users can learn much more about trading and gain a basic understanding of how the markets operate.

Additionally, all users have access to the Skilling Transaction Assistant, a unique tool designed for novice traders that provides step-by-step trade guidance that is easy to follow.

The website also has a support center with basic details on the commissions paid by the broker, leverage, and deposit and withdrawal procedures.

Account Types

Depending on the levels of trading expertise, trading preferences, and financial resources, Skilling offers users a selection of various accounts. Users can pick between ordinary and premium account types based on their trading objectives.

Standard Account

A $100 opening deposit is needed for opening a Standard Account. Trade commissions are free, and leverage up to 1:30 is allowed. This account type features spreads that begin at 0.7 pip and is accessible on both the Skilling Trader and Skilling cTrader trading platforms.

Its provision of negative balance protection, in addition to its trading terms, are competitive and appealing. The spreads, however, aren't the lowest. Therefore they probably won't be right for scalping, and the costs, if day trading, might mount.

Premium Account

The Premium Account, which has a €5,000 initial beginning amount, is designed for users with experience in trading. Low spreads beginning at 0.1 pip are available, and leverage is capped at 1:30.

The Skilling Trader and Skilling cTrader trading platforms both support the Premium Account. Over 900 financial instruments are available for trading, and the charges start at €7 for a typical lot round trip.

Professional Account

In contrast to the restrictions placed by ESMA on retail clients, those who qualify as professional clients can use this account type, which provides enhanced leverage of up to 1:30 for certain products and a decrease in existing margins rates.

To qualify for this you need to meet 2 of the following conditions: 1) Have a portfolio worth more than $500k (not including property or cash) 2) Possess a proven track record of placing positions of significance 3) Have held a position of professional responsibility in the trading, speculating, or derivatives industries.

Trial Accounts

Risk-free demo trading accounts with preloaded virtual funds are available for practice. Before creating a real live trading account, traders can use the demo account to test the broker's platforms and refine their techniques.

Fees and Costs of Skilling

While spreads for ordinary and professional accounts begin at 0.7 and 0.1 pips, respectively, depositing money on Skilling is free. Between 2% and 2.6% must be paid as a withdrawal fee when using Skrill or Neteller to withdraw money. $50 is the minimum withdrawal amount.

The FTSE spread is 2 points, the GBP/USD spread is 0.5 pip, the oil spread is six pip, and the stock spread is around 0.1 percent for either side if you're going to trade CFDs. GBP/USD spread is 0.7 pip, EUR/USD spread is 0.4 pip, and EUR/GBP spread is 1.1 pip for forex trading.

Users must keep an eye on the pages of the relevant assets for all the other financial instruments and assets. The platform is generally transparent in terms of prices and commissions, and it is said not to tack on any extra fees or prices.

Regulation and Security

Regulation is one of the things to look out for when signing up with a broker. This provides assurance that the company will conduct itself honestly and transparently and comply with the relevant authorities guidelines.

Skilling doesn't fall short in terms of regulation. They are overseen by The Cyprus Securities and Exchange Commission as well as The Seychelles Financial Service Authority.

In the UK, the FCA has granted Skilling Ltd permission to conduct business through its UK Branch.

This makes Skilling a top-tier regulated firm and prospective users should have no concern putting their faith in them.

Reputation

The reputation of Skilling is strong. Within a few years of their founding, Skilling added thousands of beginner and expert traders to its platform due to its straightforward, secure, and exemplary client services.

To enable diversification across investo' portfolios, they have not only increased its activities across several geographies but also offered new financial products and assets for them to trade. Due to their upstanding reputation, Skilling bagged the support of English football team Fulham FC as their sponsorship partner for the 2019–2020 campaign.

Is Skilling Safe?

If your home governments accept online trading with foreign brokers, you can open an account and trade on Skilling. Unfortunately, the broker does not accept customers from some nations, including the USA.

The broker offers competent customer assistance to traders. They can be reached by telephone between 08:00 and 17:00 on Monday through Friday. Additionally, they are reachable through Live Chat and email.

Benefits of Stock Trading on Skilling?

Trading in stock markets is available via Skilling. They provide narrow spreads and with transparent pricing, allowing users to manage their transactions to increase their profit margins carefully.

Anyone, from beginner traders to seasoned pros, can easily utilise the unique trading platform.

With fully functional iOS and Android mobile applications, users can continue to trade the stock CFDs on their smartphones.

Trade support and rapid order execution will ensure users receive what they need at a lightening pace.

Final Thoughts

Seasoned investors created Skilling to be a user-friendly, straightforward, and effective CFD trading platform that can meet the demands of both novice and seasoned traders. Users can download and access their accounts on a desktop or mobile device to trade.

Their robust platforms provide users access to a wide range of chart formats, indicators, and drawing tools to discover their next trading opportunity.

No commission fees or additional expenditures are associated with the Skilling trading app. Deposits and personal information are secure due to their long list of regulations, and all fees are transparently listed in the currency of your account.

Trading CFDs online is simple with Skilling. Whether a novice or experienced trader, Skilling offers robust, competitive tools and trading conditions that are hard to match.

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Frequently Asked Questions

  1. Yes. Skilling features a demo account option that traders may use to become accustomed to the platform's user interface and learn the fundamentals of trading.

  2. Users can trade every traditional and contemporary asset class on Skilling, including commodities, indices, stocks, cryptocurrencies, and currencies.