Skilling Review: Features, Pros, Cons, and More 2024!

Skilling is a forex and CFD broker that provides online trading services globally. Based in Seychelles, it is regulated by top regulatory authorities including CySEC, FSA, and FCA. Skilling offers a variety of trading instruments, including shares, forex, indices, commodities, and cryptocurrencies. It supports popular trading platforms and tools such as MT4 , cTrader and Skilling Trader.

Though Skilling is a highly trusted and regulated forex and CFD broker, it has its strengths and weaknesses. In this review, we will take an in-depth look at Skilling, exploring its features, pros, cons, and more. By reading this review, you will gain a better understanding of whether Skilling is the right broker for your trading needs and preferences.

What is Skilling?

Key Features:

• Applicable For: Applicable for all jurisdictions including CySEC, FSA, and FCA.
• Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes. The demo account has 30 days of validity. 
•  KYC Verification: Required 
• Trading Instruments: shares, forex, indices, commodities, and cryptocurrencies.
• Trading Platforms: MT4, cTrader, Skilling Trader and Skilling Copy.
• Minimum Deposit:  $25
• Maximum Leverage: Up to 30:1 (CySEC, ASIC), up to 1000:1 (FSA), and up to 500:1 for a professional account.
• Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread is 0.1 pips ($35 / million) for the Premium Account and 0.8 pips ($0 per lot) for the Standard account, and $3.50 for the Elite account.
• Minimum Trade Size: 0.01 lot. 
• Maximum Trade Size (Lot restriction per Ticket): 100 Lots 
• Funding Currencies: USD, EUR, NOK, SEK, GBP
• Maximum Number of Positions ( At a time): 200 for MT4, MT5 Live account, 100 for MT4, MT5, demo accounts, 2000 for Ctrader trading account. 
• Maximum Volume per trade: The maximum volume per trade ranges from 50 to 250 lots, depending on the platform type and tradable assets. For Shares CFDs, the maximum volume is 1000 shares in total
• Trading Style Allowed: All including Scalping, hedging, and EA Trading. 
• Stop Out Level (retail): 50%
• Margin Call Level: 80% 
• Negative balance Protection: Yes 
• Investor Protection:  Available under ASIC and CySEC regulations. However, the Investor protection scheme does not apply to FSA jurisdiction. 

Skilling Pros and Cons

Pros:

• Regulated by CySEC, FSA, and FCA.
• The Maximum leverage is as high as 1:1000 for global entities, 1:30 for EU traders, and 1:200
• Fully Digital Account Opening ( Easy Sign and Verification Process)
• Demo Accounts are Available
• Low Trading fees starting from 0.8 pips for standard accounts, and 0.10 pips for premium accounts
• Offers both leverage and non-leverage cryptos of trading
• Educational resources with a new ‘Trading Study Hub’ for beginner investors to learn more about investing
• Offers a variety of trading platforms and tools including MT4, Ctrader, Skilling Social Copy Trading, and Skilling own trading platform
• Straightforward fees, no hidden charge
• No deposit and withdrawal fees

Cons:

• Higher minimum deposit of $100 for Standard accounts, and $5000 for Premium accounts in the EU
• Deregistered  from FCA regulations 
• Service is not available in many countries including Canada and the US
• 1:2 leverage for cryptocurrencies
• Only Forex and CFDs are offered

Our Ratings for Skilling:

Review and Reputation on Public Domains:

Public review sites like Trustpilot and Forex Peace Army have become important sources of information about brokers. Many traders share their real-life trading experiences on these platforms. However, there are also many fake or paid reviews on these platforms, and sometimes competitors leave negative reviews. This makes it challenging to find genuine reviews. By carefully reading the content and context of the reviews, you can often discern their authenticity. Do not blindly rely on these reviews; instead, use them as part of your overall broker research process

Skilling Ratings and Reviews from Trustpilot:

Skilling has earned a rating of 4.4 out of 5 on Trustpilot. These high ratings indicate customer satisfaction and trust. After carefully examining the reviews, we found that most of them are genuine, provided by real users sharing their real-life trading experiences.

Skilling Ratings and Reviews from Forex Peace Army:

Skilling has achieved an average rating of 3.9 out of 5 on Forex Peace Army (FPA). We’ve observed numerous brokers on FPA, and most brokers tend to have lower ratings. Several reasons might contribute to this. There is a complaint that FPA does not approve all positive reviews and only approves negative ones for the sake of their business. To understand the real reviews, traders should focus on the content of the reviews. Typically, fake, paid, or competitor reviews are generic. While you should consider these reviews as part of your research process, you shouldn’t make decisions based solely on them. For instance, if you encounter any user complaints, you might discuss them with the broker to verify if such issues exist. Additionally, you should review the broker’s policy and terms of service.

Final Verdict:

Skilling is a regulated forex and CFD broker that offers its trading services to traders and investors worldwide. It provides a wide range of trading instruments, including shares, forex, indices, commodities, and cryptocurrencies. The broker’s spreads start from as low as 0.0 pips, and it offers high leverage (up to 1:1000) and a low minimum deposit (as low as $25). With top-tier regulations, a variety of trading instruments, high leverage, low minimum deposit, fast execution, and flexible account types, Skilling can be a good choice for many traders.

However, the broker does not accept US clients. It also does not have any investor protection scheme for non-UK/EU traders. Additionally, Skilling does not offer any real stocks or cryptocurrencies; it offers only forex and derivatives. 

If you are a forex and CFD trader looking for a trusted broker, Skilling can be an ideal choice for your trading journey. However, We always encourage traders to test brokers with a demo account or with a small deposit. Once you are satisfied with the trading conditions of the broker, you may proceed with real trading.