Skilling Review
Review Summary
Skilling is a user-friendly trading platform that offers a wide range of financial instruments, competitive fees, and robust educational resources. Ideal for both beginners and experienced traders, it provides multiple platforms to suit different trading styles.
Skilling is a Scandinavian-owned CFD, forex, stock, commodity, and crypto broker. The company offers trading opportunities via the industry-recognized MT4, cTrader, and an in-house browser-based platform, also available on iOS and Android.
This Skilling review looks at the investing apps, live spreads, account types, social trading services, customer support, bonus deals, and more. Find out whether to open a Skilling.com account in 2024.
Skilling Overview
Skilling is an online trading platform that offers a wide range of financial instruments, including forex, CFDs (Contracts for Difference), commodities, stocks, indices, and cryptocurrencies. Launched in 2016, Skilling aims to simplify the trading experience by offering a user-friendly interface, educational resources, and advanced trading tools.
Skilling is licensed and regulated by multiple authorities, including the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA) of Seychelles, which gives it a degree of credibility in the world of online trading.
Why Choose Skilling?
There are hundreds of trading platforms available today, so what makes Skilling stand out? Let’s take a look at the platform’s top features:
1. User-Friendly Interface
One of the first things you’ll notice about Skilling is how easy it is to navigate. Whether you are a beginner or an experienced trader, the platform’s clean design ensures a smooth trading experience. Skilling offers both web-based and mobile apps, so you can trade wherever you are.
2. Wide Range of Trading Instruments
Skilling offers access to over 800 financial instruments, allowing traders to diversify their portfolios. Whether you’re interested in forex, commodities, cryptocurrencies, or stocks, Skilling has you covered.
3. Low Fees and Tight Spreads
Skilling prides itself on being transparent with fees and offering competitive spreads. The platform has no hidden charges, and spreads are typically tight, meaning that your overall trading costs can remain low.
4. Multiple Trading Platforms
Skilling offers different trading platforms depending on your experience and needs. These include:
- Skilling Trader – Ideal for beginners, this platform offers an intuitive and easy-to-use interface.
- Skilling cTrader – A more advanced platform designed for experienced traders, offering extra charting tools, analysis features, and more.
- Skilling MetaTrader 4 (MT4) – A well-known platform popular with professional traders. MT4 offers algorithmic trading and advanced technical analysis tools.
5. Free Demo Account
Skilling offers a free demo account with virtual funds, so you can practice your trading skills without risking any real money. This is particularly useful for beginners who want to familiarize themselves with the platform before committing to live trades.
6. Educational Resources
Skilling provides a wide range of educational materials, including tutorials, videos, and articles, to help you improve your trading knowledge. This is great for novice traders looking to learn the ropes.
Is Skilling Safe to Use?
Safety and security are critical when choosing a trading platform. Skilling is regulated by respected financial authorities such as CySEC and FSA, which means it must adhere to strict regulatory requirements. The platform also uses advanced security measures like SSL encryption to protect user data.
Skilling Fees and Commissions
Skilling charges no commissions on standard accounts, and its spreads are competitive, making it an affordable platform for traders of all levels. However, it’s essential to note that the fees vary depending on the account type and asset being traded.
Example of Typical Spreads:
- EUR/USD: 0.7 pips
- Gold: 0.15 pips
- Bitcoin: 40 pips
For those using the cTrader platform, Skilling charges a commission of $35 per $1 million traded, but the spreads are often tighter, which could lower your overall trading cost.
Pros and Cons of Skilling
| Pros | Cons |
|---|---|
| User-friendly interface suitable for all levels | Not available in some countries (e.g., USA) |
| Regulated by respected authorities | Limited customer support options |
| Wide range of assets (over 800 instruments) | Commission on cTrader platform |
| Competitive fees and tight spreads | |
| Multiple trading platforms available | |
| Free demo account for practice | |
| Access to educational resources |
Pros:
- User-friendly interface: Suitable for both beginners and advanced traders.
- Regulated: Licensed by multiple financial authorities.
- Wide range of assets: Over 800 financial instruments to choose from.
- Competitive fees: Tight spreads and no hidden charges.
- Multiple platforms: Options for both beginners and experienced traders.
- Educational tools: Access to tutorials and resources to improve your skills.
Cons:
- Limited in some countries: Skilling is not available in the USA, Canada, and some other jurisdictions.
- Commission on cTrader: The cTrader platform has a commission, though spreads are tighter.
- Limited customer support: While Skilling offers live chat and email support, phone support is not available 24/7.
How to Get Started with Skilling
Opening an account with Skilling is straightforward and can be completed in a few steps:
- Register – Sign up by filling out the online form with your personal details.
- Verify your identity – Provide necessary documents like a passport or driver’s license and proof of address.
- Deposit funds – You can deposit funds using various payment methods, including bank transfers, credit cards, and e-wallets.
- Start trading – Once your account is verified, you can begin trading on your preferred platform.
Who Is Skilling Best For?
Skilling is suitable for:
- Beginner traders looking for an easy-to-use platform with educational resources.
- Experienced traders who need advanced trading tools and low fees.
- Crypto enthusiasts who want to trade popular cryptocurrencies like Bitcoin and Ethereum.
Whether you’re new to trading or a seasoned pro, Skilling offers something for everyone, making it a versatile and flexible trading platform.
Conclusion
Skilling is a solid option for anyone looking for a user-friendly yet powerful trading platform. It is regulated, and secure, and offers a broad range of assets with competitive fees. The multiple platform options ensure that traders of all skill levels can find a suitable trading environment. However, the platform may not be ideal for those in regions where it is not supported or traders who require extensive customer service support.
If you’re looking for a reliable broker with a focus on simplicity and affordability, Skilling is worth considering. Whether you’re interested in forex, CFDs, or cryptocurrencies, this platform has the tools you need to succeed.
Frequently Asked Questions About Skilling
Skilling is available in most countries except the USA, Canada, Japan, and a few others. Check their website for a complete list of supported countries.
The minimum deposit for a standard account is $100.
Yes, Skilling offers leverage up to 1:30 for retail clients and higher for professional clients.
Yes, Skilling allows trading in several cryptocurrencies, including Bitcoin, Ethereum, and Ripple.
Withdrawals can be made via bank transfers, credit/debit cards, or e-wallets, and are usually processed within 24 hours.
Editorial Staff at Chweya is a team of financial experts led by Vincent Nyagaka, with over 9 years of experience in finance, commerce, forex, crypto, and marketing. Started in 2014, Chweya is now among the largest free financial resource sites in the industry and is often referred to as Wikipedia for business.
