Skilling vs eToro : Our Analysis and Comparison 2024

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Skilling vs eToro: In a Nutshell

Skilling

Established in 2016 by Scandinavian entrepreneurs, Lennart Clausen, André Lavold, Henrik Ekdahl, and Mikael Harstad, Skilling is a regulated and innovative forex broker. It offers traders access to more than 900 forex and CFDs on its Skilling Trader, cTrader, and MT4 platforms. The broker’s Premium account features competitive spreads and low commissions, ideal for advanced traders. Skilling.com provides forex pairs, CFDs, commodities, shares, indices, gold, silver, oil, bitcoin, and other cryptocurrencies for your personal investment and trading options. Additionally, Skilling provides tools like TradingView, an economic calendar, market news, and detailed analysis to enhance trading decisions.

Skilling Overview
  • Founded In: 2016
  • Minimum Deposit: 
  • Maximum Leverage: Up to 1:1000 for non-EU retail traders,1:30 for EU retail traders.  1:200 for professional traders
  • Regulations:CySEC, FSA, and FCA (recently deregistered from FCA)
  • Trading platform: MT4, MT5, cTrader, Skilling Trader, and Skilling Copy
  • Account Types:  Offers 3 account types: Standard, Premium, MT4
  • Payment Options:Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, CoinsPaid, Directa24, FasaPay, Klarna, Neteller, Ngan Luong, Pagsmile, PayPal, PayRetailers, PayTrust88, Skrill, Swish, Trustly, UnionPay, WebMoney
  • US Traders: Not Accepted

eToro

For over 15 years, eToro has been championing the art of social trading among forex traders. It has built a huge community comprising over 30 million traders who interact with each other while investors automatically copy the trades of expert traders. Additionally, you can trade real stocks, ETFs, and cryptos with eToro.

Etoro Overview

Etoro Overview
  • Founded In: 2007
  • Minimum Deposit: $50
  • Maximum Leverage: 30:1 EU, 50:1  USA
  • Regulations: SEC, FINRA, FCA, CySEC, FSA-S, SIPC
  • Trading platform: eToro Trading Platforms
  • Account Types: Standard, Professional, Corporate
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Giropay, Local Bank Deposits, Local Bank Transfers, Neteller, PayPal, Skrill, UnionPay, WebMoney, Yandex Money

Skilling vs eToro: Pros and Cons

Skilling

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
  • Degegistered  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

eToro

Pros
  • Regulated in numerous jurisdictions including CySEC, FCA, ASIC, FinCEN, MSB, FSA Seychelles, FSC Gibraltar, and FSA Malta.
  • Trading over 5,000 forex and CFD assets plus real stocks/ETFs and Cryptocurrencies.
  • A large community of social traders
  • Trading tools like market sentiments, news feed, Trading Central analysis, etc.
  • Investors can copy the trades of expert traders or invest in ‘CopyPortfolios’
  • Real Stocks and ETFs are Available 
  • Negative Balance Protection
Cons
  • Traders pay withdrawal fees, inactivity fees, and conversion fees.
  • You have no other platform choice than the eToro platform.
  • You cannot automate your strategies via trading robots.
  • No multiple account types; you can only have a retail account or a professional account.
  • Margin trading is not available to U.S. users
  • No limit orders for stocks.
  • Not Available in American Samoa, Guam, Hawaii, Nevada, New York, Puerto Rico and US Virgin Islands

Skilling vs eToro: Side-by-Side Comparison

Skilling
Etoro
Product
Founded In
Founded In
2016
2007
Founded By
Founded By
Scandinavian Entrepreneurs
Yoni Assia
Headquarters
Headquarters
Mahe, Seychelles
London, United Kingdom
Regulations
Regulations
CySEC, FSA, and FCA.
CySec (Cyprus) , FCA (UK).
Min Deposit
Min Deposit
$25 for the Non-EU standard account, $100 for the EU standard account, and $5000 for the premium account.
$50
Max Leverage
Max Leverage
up to 1:1000 for non-EU retail traders,1:30 for EU retail traders. 1:200 for professional traders
30:1
Tradable Assets
Tradable Assets
800+ forex, CFDs, commodities, shares, indices, and cryptocurrencies
Offer you over 5,000 instruments from a wide range of asset classes: Stocks, Indices, ETFs, Currencies, Commodities, Crypto
Fees
Fees
starting from 0.8 pips for a standard account,
Spread from 2.0 pips
Platforms and Tools
Platforms and Tools
MT4, Ctrader, Skilling Social Copy Trading, and Skilling own trading platform
eToro trading platform
US Traders
US Traders
Not Allowed
Not allowed

Skilling Vs eToro Our Scores and Ratings

We rated both brokers, Skilling and eToro, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.

Skilling :

8.8
Skilling Score
Regulation and Security (40%)9
Fees and Commissions (20%)9
Trading (15%)9
Trading tools (10%)9
Customer Support (10%)8
Trading Education (5%)7

eToro:

9.1
Total Score
Regulation and Security (40%)10
Fees and Commissions (20%)8
Trading (15%)9
Trading tools (10%)7
Customer Support (10%)9.5
Trading Education (5%)9

Final Verdict :

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

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