Skilling Review – Is Skilling Scam or Satisfactory as a Broker?

Skilling Review

Skilling is a broker that is accessible and suitable for traders of every position. It was started in Malta and its headquarters are in Cyprus, but it continues to expand to other locations. This broker is widely known for its range of instruments and software that is handy while trading. It is also very easy to create an account on skilling and it has gained a good reputation, despite being active since just 2016.

It’s safe because of legal matters and since it matches standards. It is a well-regulated broker in every jurisdiction.

Types of accounts

Here at skilling, you can choose between a Standard account and a Premium account. The Standard account consists of spread basis while a Premium account offers raw spreads and a charges commission per each million you trade.

Another great thing about this broker is that no matter what account you create, you can choose what platform you want to use and have the options of Skilling trader, MT4, and cTrader. However, when using a Premium account, you can’t use MT4, which is definitely not a big deal since cTrader might even be a little better.

Fees

The fees at Skilling are based mainly on platform, spread charges, and account type. There is no deposit or withdrawal fee. An inactivity fee is applied but is low to average.

Spreads

On a standard account, the spreads are already built and it starts at 0.7 pips, while the typical EUR/USD pair fees is about 1 pip. The premium account is different. It offers interbank spreads that start at 0.1 pip and has a commission fee of $35 per million traded, which is also quite competitive. CFD fees may be a little higher compared to other brokers. But they can vary depending on the instrument you use, so you need to consider all points before making a final decision.

Instruments

Skilling provides a wide range of trading instruments to choose from. There are over 800 options like Indices, Energies, Metals, CFDs on stocks, and currency pairs including minor ones. Along with these, there are 10 cryptocurrencies with Bitcoin, Ripple, etc.

Depositing and withdrawing

There are no applied commission charges on deposits or withdrawals, but some fees may apply depending on the method you choose to use.  You are offered various methods for deposits and withdrawals but the deposit options can differ based on the regulations, as some are accessible for international customers only. You can use Bank Wire Transfers, credit and debit cards, and e-wallets to deposit and the minimum amount is $100, which is very low compared to the usual $500.

There are no fees charged for withdrawals you make. You can use numerous methods to do this, like Bank Wire Transfer, credit cards, and e-wallets.

Trading platform

You can choose to trade using MT4, cTrader or even the Skilling platform. This broker allows you to trade using the web platform, desktop, and mobile which makes it very convenient and easily accessible. You can access the site on the web of any device, but you have to keep in mind that you cannot use the MT4 platform on the premium account.

You can also install the Skilling app on your desktop as it supports both Mac and PC. MT4 is the most commonly used platform for the past 16 years and will allow a smooth trade, while cTrader is more powerful and has a wide range of risk management and capabilities. As for the mobile platform, you can install the app on your phone, whether you have iOS or Android. With a mobile platform available, you can access your account and trade wherever you are.

Customer support

The customer service team at Skilling is available 24/7 and supports various languages so everyone can reach out for help. They ensure quick responses and support live chat, emails and even international phones.

Education

Moreover, Skilling also provides a demo account so you can get familiar with how things work. Using the demo account, you can get used to all the strategies and build a basic understanding of the way it functions. Even though there are no videos or webinars for beginners, there are some good tools for research with different capabilities.

Conclusion

Skilling is a little new to the market, but has achieved a good reputation among traders for its wide range of instruments and how convenient it is to use.