Skilling.com

Skilling.com is an online forex and CFD broker that has several trading accounts to suit day, position and swing trading clients. The firm offers accessible, low spread conditions via four platforms. This 2024 Skilling.com review will delve into the broker’s assets, fees, payment methods and leverage rates to help you decide whether to sign up.

What Is Skilling.com?

Company Details

Skilling.com facilitates forex and CFD copy trading to worldwide clients thanks to licensing from the Seychelles Financial Conduct Authority (SFCA). With offices in Cyprus, Malta and Spain, the broker has an experienced team of over 40 employees. Due to restrictions on CFDs, traders in the US and Canada are unable to register for an account.

History

A team of Scandinavian technology industry leaders created the Skilling.com trading company in 2016. The team launched the platform to select EU countries in July 2019 after years of designing and refining the ecosystem. A full European launch followed in October of the same year.

Markets

Skilling.com offers over 800 assets across the forex, indices, commodities and shares markets.

Forex

The broker offers 73 major, minor and exotic currency pairs, with spreads as low as 0.0 pips with a Premium account. Exotic pairs are often subject to higher spreads, with pairs like GBP/ZAR and EUR/TRY frequently exceeding 100 pips.

Skilling.com supports leverage rates up to 1:30 on major pairs and 1:20 on minors and exotics. This is in line with European and UK regulatory requirements designed to protect retail clients.

Equities

The broker offers more than 700 stocks and shares CFDs, including Apple, Google and Microsoft. The majority of stocks are from the American markets, with major FTSE 100 players like Diageo and Glencore missing. Clients can access leverage rates of up to 1:5 and spreads vary from a minimum of 0.1 pips.

Indices

Skilling supports the trading of 17 global indices, such as the S&P 500, China A50 and FTSE 100. Major indices can be traded with leverage rates of 1:20, while minor indices are restricted to 1:10.

Commodities

The broker supports five commodity CFDs, consisting of gold, silver, platinum, Brent crude oil and natural gas. Leverage rates are capped at 1:10, except for gold, which is limited to 1:20.

Skilling does not support spread betting, so profits are subject to taxation in the UK.

Skilling.com Trading Platforms

Skillling.com’s ecosystem supports four trading platforms, MetaTrader 4 (MT4), Skilling Trader, Skilling Copy & cTrader.

MetaTrader 4

MetaTrader 4

MT4 remains the industry standard for standalone forex platforms, even after the launch of MT5. The application is user-friendly and provides a level of familiarity, while facilitating advanced systems like automated trading, fully customisable indicators and hedging functions. MT4 is available for download on Windows and Mac computers or as a browser-based web trader. Skilling.com only allows MetaTrader 4 on certain account types.

Skilling Trader

The broker designed Skilling Trader to serve as a beginner-friendly platform. The intuitive software package includes a wide range of charting tools, indicators and features, boasting an execution time of 0.05 seconds. The platform comes with a virtual  Skilling Trade Assistant, which helps beginners learn the fundamentals in a practical environment.

Skilling Trader

cTrader

cTrader is a popular trading platform offered by many brokers worldwide. The software is a strong competitor to MetaTrader, providing a more modern interface alongside sophisticated analysis features and functions. cTrader supports customised charts, automated trading, 70 built-in indicators and personalised watchlists.

cTrader

Skilling Copy

Skilling.com also supports copy trading through its proprietary Skilling Copy platform. This system allows clients to join a large community to find successful traders, strategies and forums. The system has risk management features like equity stop losses and active performance tracking.

Essentially, copy trading allows newer traders and those with less time to mirror the strategies and positions of others in real-time, taking the time and effort out of swing trading.

Skilling Copy

Mobile Apps

MT4, cTrader and Skilling Trader all offer dedicated mobile versions of their desktop platforms. These apps allow traders to manage their accounts, open positions and analyse the markets on the go. However, by capitalising on convenience, the mobile platforms are slightly less sophisticated in their analysis features and functionality. Clients can download all terminals from the Apple App Store for iOS devices or the Google Play Store for Android (APK) devices.

Trading Accounts

Skilling.com offers three distinctive accounts: Standard, Premium and MT4. The first two accounts allow access to Skilling Trader, cTrader and Skilling Copy, while the latter offers only MT4. Maximum leverage rates are 1:30, scalping is allowed and negative balance protection is provided to all accounts. Stop out levels are set at 50%.

The Standard and MT4 accounts offer spreads from 0.7 pips with no commissions and minimum deposits of $100. The Standard and Premium accounts have access to all financial instruments, while the MT4 account is limited to just over 200 equities. Premium accounts have a minimum deposit of $5,000, spreads from 0.1 pips and commissions of $30 per million.

Skilling.com also offers elective professional accounts, subject to meeting legislative requirements, which can access leverage rates up to 1:200. Professional traders forgo certain safety nets, such as negative balance protection. Corporate entities can also register for Standard, Premium or MT4 accounts.

The broker offers a demo account to existing and prospective clients to trial the broker’s services, assets and platforms. These produce a real-time simulated trading environment with which you can practise strategies and explore markets without risk to your capital.

Note, swap-free, Islamic accounts are available upon request.

Fees

Skilling.com is transparent about its fees and trading conditions. The Premium account follows an ECN execution model and offers raw spreads, while Standard and MT4 accounts have spreads starting at 0.7 pips. However, the Premium account charges commissions of $30 per million.

Deposits and withdrawals are generally free, though Skrill and Neteller transactions can incur a charge of up to 2.9%. Skilling.com also charges a $10 inactivity fee for accounts that remain inactive for longer than 12 months.

Payments

Deposits

Skilling accepts several payment methods to accommodate transfers from all around the world. EU clients can make use of Visa and Mastercard credit and debit cards, Trustly, Skrill, Neteller, Klarna and Swish. Skrill and Neteller have 2.9% transaction fees, though the other options are all free.

International clients can choose from Visa and Mastercard credit and debit cards, FasaPay, WebMoney, PayTrust, Pagsmile, Directa, UnionPay, NganLuong, Skrill, Neteller, PayRetailers and wire transfers. Likewise, all methods are free barring Skrill and Neteller.

Deposits are processed instantly for all methods, except wire transfers, which take two to seven working days. Minimum deposits are generally $100 or equivalent. Currency choices vary by method but include USD, GBP, EUR, NOK, SEK, IDR, KZT, RUB, UAH, VND, BRL, MYR, THB and MXN.

Withdrawals

Withdrawals are supported with all the above payment methods, though they must be requested using the same method as used for deposits. All options are free, except for Skrill and Neteller. Transactions are generally processed within one working day, though UnionPay can take up to 48 hours and wire transfers can take two to seven working days. Minimum withdrawals tend to be around $50 or equivalent.

Skilling.com Regulation

Skilling.com is regulated in three jurisdictions by three independent agencies. The Financial Conduct Authority (FCA) oversees the UK branch, while the Cyprus Securities and Exchange Commission (CySEC) regulates EU services. The Seychelles Financial Services Authority provides regulation for the broker’s international activities.

Security

The broker segregates all client funds from company capital, holding them in separate major European and International bank accounts. In case of insolvency, the CySEC offers a fund protection scheme for up to €20,000 per client. However, two-factor authentication (2FA) is not available.

Several Skilling.com reviews on sites like Trustpilot vouch for the safety of the broker and the helpfulness of its customer service. These appear legitimate and the company team is responsive to both positive and negative feedback.

Education & Analysis

The broker’s website hosts a regularly updated blog that consists of trading and market insights, platform updates and company news. The articles are well-written and informative, thus providing clients with insightful content on emerging trends within global finance.

Skilling.com also provides well laid out, beginner-friendly guides on forex, CFDs and using leverage. Many firms fill educational content sections with off-putting blocks of text and dense jargon. However, the Skilling team have made a noticeable effort to break down concepts and use clear diagrams where possible.

Bonuses & Promotions

Skilling.com does not run any promotions or bonuses for new or existing clients. This stems from European regulations, which require brokers to compete through better services, not financial incentives. Nonetheless, it is common practice for international firms with several entities to offer competitions, deposit match promotions and no deposit welcome bonuses.

Advantages

Benefits to registering with Skilling.com include:

• Raw spreads
• Copy trading
• Demo accounts
• Islamic accounts
• Many payment methods
• Several trading platforms
• Competitive pricing quotes
• Regulated by top-tier agencies
• Large number of equities & currency pairs

Disadvantages

Drawbacks to signing up with Skilling.com include:

• Limited leverage
• Few commodities
• No raw spreads with MT4
• Not available in the US & Canada

Trading Hours

Skilling.com’s platforms and services are accessible 24/7. However, clients can only trade assets at specific times. Forex hours typically run from 22:05 GMT Sunday to 22:00 GMT Friday. Commodities, equities and indices are limited by the opening times of their respective exchanges. Moreover, many assets have a trading break overnight.

Customer Service

Clients can contact the Skilling.com customer support team via live chat, telephone and email. The live chat service runs from 04:00 to 22:00 CET, while the phone line is open from 08:00 to 17:00 CET. Alternatively, there is a comprehensive FAQ and several helpful guides in the broker’s help centre.

• Email Address: support@skilling.com
• UK Phone Number: +44 208 080 6555
• Cyprus Phone Number: +357 22 276 710

Skilling.com Verdict

Skilling.com is a competitive broker with good CFD coverage and regulation from several reputable agencies. The trading conditions are decent and the payment methods, base currencies and minimum deposit limit provide an accessible investing environment. However, it would be good to see some cryptocurrency CFDs in the mix to provide a little more portfolio diversification. In addition, it is disappointing to see that traders cannot access raw spreads or the full range of equities with the MT4 platform. Overall though, Skilling remains a top choice for new and experienced traders.

FAQ