Skilling 2025 Review: Everything You Need to Know
Skilling has emerged as a notable player in the online trading space since its inception in 2016. This review consolidates various insights from multiple sources, revealing a broker that offers a user-friendly platform with a wide range of trading instruments but also presents some limitations, particularly in educational resources. Key features include competitive spreads and a robust customer support system.
Note: It's important to highlight that Skilling operates through different entities, which may affect the trading experience based on the user's location. This review aims for fairness and accuracy by considering these variations.
Rating Summary
We assess brokers based on their offerings, user feedback, and expert reviews.
Broker Overview
Founded in 2016, Skilling is a Scandinavian fintech company that aims to make trading accessible to all levels of traders. The broker is headquartered in Cyprus and is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (FSA). Skilling offers a diverse range of trading platforms, including its proprietary Skilling Trader, cTrader, and the widely popular MetaTrader 4 (MT4). Traders can access over 800 financial instruments, including forex, stocks, commodities, indices, and cryptocurrencies.
Detailed Analysis
Regulatory Regions
Skilling operates under CySEC regulations, providing a level of security and compliance expected from a reputable broker. However, its offshore entity under the Seychelles FSA raises some concerns regarding the regulatory rigor compared to its European counterpart.
Deposit/Withdrawal Currencies and Cryptocurrencies
Skilling supports deposits and withdrawals in multiple currencies, including USD, EUR, GBP, NOK, and SEK. However, it does not currently support cryptocurrency transactions for funding accounts. The minimum deposit required to open a standard account is €100, while the premium account requires a minimum deposit of €5,000.
While Skilling does not offer traditional bonuses due to regulatory restrictions in the EU, it has been known to provide promotions through its offshore entity. However, these promotions may not be available to residents in Europe.
Tradable Asset Classes
Traders at Skilling can access a wide array of assets, including:
- Forex: Over 70 currency pairs, including major, minor, and exotic pairs.
- CFDs: A selection of more than 760 stocks from global markets.
- Commodities: Includes gold, silver, oil, and natural gas.
- Indices: Access to various global indices.
- Cryptocurrencies: Trading options for popular cryptocurrencies like Bitcoin and Ethereum.
Costs (Spreads, Fees, Commissions)
Skilling's spreads start from 0.7 pips for standard accounts, while premium accounts can enjoy spreads as low as 0.1 pips, with a commission structure of $35 per million traded. Its important to note that while there are no deposit fees, Skilling may charge a withdrawal fee of up to 2.9% for certain payment methods like Neteller and Skrill.
Leverage
The leverage offered by Skilling varies based on the regulatory entity. For retail clients under CySEC, the maximum leverage is capped at 1:30, while professional clients may access leverage up to 1:200. In contrast, clients using the offshore entity can benefit from leverage of up to 1:500.
Skilling provides access to several trading platforms, including:
- Skilling Trader: A proprietary platform designed for ease of use.
- cTrader: Known for its advanced trading capabilities.
- MetaTrader 4 (MT4): A popular choice among traders for its extensive features and tools.
Restricted Regions
Skilling does not accept clients from the United States and several other regions, reflecting its regulatory compliance and focus on maintaining a secure trading environment.
Available Customer Support Languages
Skilling offers customer support in multiple languages, including English, Spanish, Norwegian, German, and more, catering to a diverse client base.
Rating Summary (Revisited)
Detailed Breakdown
Account Conditions
Skilling offers both standard and premium accounts, making it accessible for beginners while providing advanced trading options for experienced traders. The minimum deposit requirements are reasonable compared to industry standards.
While Skilling provides some trading tools and a demo account, the educational resources are limited, which could be a drawback for new traders seeking comprehensive learning materials.
Customer Service and Support
Customer support is highly rated, with multiple channels available, including live chat and email. However, support is not available 24/7, which could be a limitation for some traders.
Trading Experience
Traders report a generally positive experience with fast order execution and a user-friendly interface. However, some users have noted that spreads can be higher compared to other brokers.
Trustworthiness
Skilling is regulated by reputable authorities, which enhances its credibility. The presence of negative balance protection adds an additional layer of security for traders.
User Experience
The overall user experience is enhanced by the intuitive design of the trading platforms, making it suitable for both beginners and seasoned traders.
Educational Resources
The educational offerings are lacking compared to competitors, with a need for more comprehensive training materials to support new traders.
In conclusion, Skilling presents a balanced trading environment with a strong regulatory framework and a user-friendly platform. However, potential users should consider the limitations in educational resources and the implications of trading through different regulatory entities.
