XM vs Skilling Compared (2024)

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XM vs Skilling(2024): In a Nutshell

XM

XM is a multiple award-winning broker that allows its clients to trade forex, CFDs, and real stocks on its MetaTrader platforms. Founded in 2009, XM has over 1000 trading instruments and multiple account types which are designed for newbies, and experienced and professional traders. Trading tools are also provided to assist the traders with market analyses.

XM Overview
  • Founded In: 2009
  • Trading Instruments: 1000+ trading instruments including forex, cryptocurrencies, stock CFDs turbo stocks, commodities, equity indices, thematic indices, precious metals, energies, shares
  • Minimum Deposit: $5 for Micro, Standard, Ultra low accounts, and $10,000 for share accounts
  • Maximum Leverage: up1000:1 for Standard, Micro, and Ultra-low accounts, No leverage for share account
  • Regulations: FSC, ASIC, CySEC, DFSA, FSCA
  • Trading platform: MT4, MT5, XM trading apps 
  • Spreads: As low as 0.6pips 
  • Account Types: Standard, Micro, Ultra-low, Share  accounts
  • Trading Styles: Allows all trading styles including scalping, news trading, copy trading, EA trading
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill
  • Funding Currencies: USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, SGD, ZAR
  • US Traders: Not Accepted

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

XM vs Skilling: Pros and Cons

XM

Pros
  • Regulated by CySEC, ASIC, DFSA in UAE, and FSC Belize.
  • Easy and fast account opening
  • Minimum deposit is $5
  • Over 1000 forex/CFDs are available for trading.
  • MT4 and MT5 are the available trading platforms.
  • Quality research, market analysis, and access to trading tools like Autochartist.
  • Quality training for newbies and ‘ultra-low micro account’ for beginners.
  • High leverage up to 1000:1 (this leverage is not available to all the entities of the Group)
Cons
  • Dormant fees are charged after 3 months of no account activity.
  • Trading of real stocks is not available to European traders.
  • Traders have no other choice apart from the MetaTrader platforms.
  • Limited tradable assets.
  • No passive investment services (social trading platform, PAMM accounts);
  • Funding with PayPal is unavailable

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

XM vs Skilling: Side-by-Side Comparison

XM
Skilling
Product
Product
Founded In
Founded In
2009
2016
Founded By
Founded By
Constantinos Cleanthous
Scandinavian Entrepreneurs
Headquarters
Headquarters
Limassol, Cyprus
Mahe, Seychelles
Regulations
Regulations
ASIC, CySec , FSC , DFSA, FSCA
CySEC, FSA, and FCA.
Min Deposit
Min Deposit
$5
$25 for the Non-EU standard account, $100 for the EU standard account, and $5000 for the premium account.
Max Leverage
Max Leverage
1000:1
up to 1:1000 for non-EU retail traders,1:30 for EU retail traders. 1:200 for professional traders
Tradable Assets
Tradable Assets
Forex , Commodities, Stock ,Indices , Crypto , Turbo Stocks Equity indices , Precious Metals , Energies
800+ forex, CFDs, commodities, shares, indices, and cryptocurrencies
Fees
Fees
Spreads as low as 0.6 pips
starting from 0.8 pips for a standard account,
Platforms and Tools
Platforms and Tools
MT4 , MT5
MT4, Ctrader, Skilling Social Copy Trading, and Skilling own trading platform
US Traders
US Traders
Not Allowed
Not Allowed

XM Vs Skilling: Our Scores and Ratings

We rated both brokers, XM and Skilling, 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.

XM

9.3
Total Score
Regulation and Security (40%)9.6
Fees and Commissions (20%)9.5
Trading (15%)8.4
Trading tools (10%)8.6
Customer Support (10%)9.5
Trading Education (5%)9.4

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

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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