Skilling is a forex and CFD broker offering online trading services to traders and investors worldwide. The broker provides a diverse range of trading instruments, including forex, CFDs, commodities, shares, indices, and cryptocurrencies. It also supports multiple trading platforms and tools such as MT4, MT5, cTrader, Skilling Trader, and Skilling Copy.
Skilling is regulated by several authoritative bodies such as CySEC, FSA. However, Skilling is not regulated by the MAS ( Monetary Authority of Singapore). In this article, we will explore Skilling’ regulations, and its features, and provide a list of alternative brokers that are regulated by MAS.
Does Skilling Operate Under MAS?
No, Skilling does not operate under MAS (Monetary Authority of Singapore) regulation. However, the broker is regulated by several other reputable financial authorities including CySEC, FSA. These regulatory bodies ensure compliance with various standards for financial stability, transparency, and investor protection, though they do not provide the specific protections offered by the MAS in Singapore.
What Other Regulations Does Skilling Have?
CySEC (Cyprus Securities and Exchange Commission):
Skilling is regulated by CySEC. Established in 2001, Cysec is Cyprus’s financial regulator. Since Cyprus joined the European Union in 2004, CySEC’s regulations align with the MiFID directive, ensuring compliance with EU-wide financial standards and investor protection. This regulation allows the broker to offer services across the European Economic Area (EEA) under the MiFID II directive, ensuring investor protection and transparency. CySEC regulation requires brokers to follow strict guidelines for handling client funds, including segregation and periodic reporting.
FSA -S : / FSA in Seychelles
Skilling is regulated by the Financial Services Authority (FSA) of Seychelles. The FSA, established in 2013, oversees the financial services sector in Seychelles to ensure compliance with regulatory standards and to protect investors.
The FSA requires Skilling to adhere to guidelines for managing client funds, which include keeping client money separate from company funds and providing regular financial reports. This regulation helps ensure that Skilling operates securely and transparently, particularly for clients in Seychelles, and maintains a trustworthy trading environment.
Best MAS Regulated Forex Brokers: Alternatives to Skilling
Skilling is one of the leading forex and CFD brokers. The broker is not regulated by MAS. It is regulated by other top-tier regulators including CySEC, FSA. There are several MAS regulated brokers that can serve as alternatives to Skilling. These brokers include:
- Founded In: 2001
- Minimum Deposit: $100
- Maximum Leverage: 50:1
- Regulations: CySEC, CFTC, NFA, CIMA, FCA, FSA, MAS, ASIC, CIRO
- Trading Platforms : Mobile App, Web Trader, Meta Trader 5
- Trading Instruments: Forex, Indices, Stocks , Cryptocurrency, Commodities , Gold and Silver.
- Founded In: 2005
- Minimum Deposit: $50
- Maximum Leverage: 1:500
- Regulations: ASIC, Austrac, Bafin, CIMA, ESCA, CySEC, FSC, FMA, MAS, TFG, VFSC, FSCM, FSAS
- Trading Platforms: MT4, MT5, Multibank-Plus
- Trading Instruments: Forex, Metals, Shares, indices, Commodities, Cryptocurrencies
- Founded In: 1974
- Minimum Deposit: $0
- Maximum Leverage: 1:200
- Regulations: ASIC, FCA, JFSA, SFC (Hongkong), FSCA, MAS, FMA, GmbH, FINMA
- Trading Platforms: MT4, WebTrader, MobileTrader (MobileApp), ProRealTime
- Trading Instruments: Forex, indices, Cryptocurrencies, Shares, Commodities
- Founded In: 1989
- Minimum Deposit: $0
- Maximum Leverage: 1:500
- Regulations : FCA, ASIC, BaFin, IIROC, FMA, MAS
- Trading Platforms : MT4 , Share trading platforms
- Trading Instruments: Forex Major, Forex Crosses, Forex Minor, Metals, Oil , CFD, Stock indices
- Founded In: 1978
- Minimum Deposit: $0
- Maximum Leverage: 1:500
- Regulations: SEC, CFTC, FCA, FSCS, FINRA, FCM, IIROC, MAS, FSA
- Trading Platforms : WebTrader, FIX API, MobileTrader
- Trading Instruments: Stocks, options, futures, currencies, bonds, and funds
These brokers operate under MAS regulation. According to MAS rules, they offer leverage up to 30:1 and provide negative balance protection for retail traders. To learn more about MAS-regulated forex brokers, you can read our content on the best MAS-regulated forex brokers.
How Can I Verify If My Broker is regulated by MAS or Not?
To verify if your broker, such as Skilling, is regulated by the MAS, follow these steps:
Step 1: Obtain the Broker’s License Number or Name
The first step in verifying whether a broker is MAS-regulated is to gather the necessary details from the broker’s official website. Look for the broker’s licensed or reference number, which is typically listed in the footer, legal section, or “About Us” page. If the license number is not available, the broker’s name can also be used for verification. Having the correct license number or name ensures a more accurate search when checking the broker’s regulatory status.
Step 2: Search the MAS Financial Institutions Directory
Once you have the broker’s license number or name, visit the official MAS Financial Institutions Directory at https://eservices.mas.gov.sg/fid. Enter the license number or the broker’s name into the search bar and hit enter. This directory contains all MAS-regulated entities, and your search results should show the broker’s profile if they are indeed regulated. This step is critical for confirming that the broker you are considering operates legally under MAS oversight.
Step 3: Check License Type and Status
After locating the broker in the MAS directory, carefully review their profile. Look specifically for the license type and status to ensure that the broker is authorized to offer the services you need. If you are trading forex, verify that the broker is licensed to provide “Spot Foreign Exchange Contracts for Leveraged Forex Trading” under “Dealing in Capital Markets Products.” This step confirms that the broker has the necessary permissions to legally offer forex trading and other related financial products.
Step 4: Verify Broker Contact Details
Another essential step is to ensure that the contact details listed on the MAS website match those provided by the broker on their own site. Pay close attention to details such as the broker’s website URL, email address, and phone number. If the contact details differ, it could indicate that you are dealing with an unauthorized broker or a clone firm that is pretending to be MAS-regulated. Verifying these details helps protect you from potential scams or unauthorized firms.
Step 5: Stay Away from Unlisted Brokers
If you cannot find the broker in the MAS directory, this is a red flag. Brokers that are not listed are likely unauthorized, and trading with them can put your funds at serious risk. Unauthorized brokers often operate without regulatory oversight, meaning they may not adhere to client fund protection rules, leaving your investments exposed. Always stay away from brokers that are not listed in the MAS directory to ensure your money remains safe.
Frequently Asked Questions ( FAQs)
What is 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.
Is Skilling Considered Safe?
Yes, Skilling is considered safe. Though Skilling is not regulated by MAS, it is regulated by other reputed regulatory authorities including CySEC, FSA. These regulations ensure strict compliance with industry standards and provide protection for client funds.
