Skilling is a newcomer in the brokerage world, having been around since 2016. They have a good reputation and are currently sponsors of Fulham F.C. as the main partner.
Skilling License:
- Skilling (Seychelles) Ltd – authorized by the FSA (Seychelles) license number SD042
- Skilling Ltd – authorized by CySEC (Cyprus) registration number 357/18
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Home page: https://skilling.com/ |
Pros |
CySEC regulated and has office in Cyprus, branch in UK Wide range of Forex trading instruments and CFDs. Suitable for both beginners and more professionals. There is MT4, cTrader and Exclusive Platform. Good technical solution |
Cons |
Seychelles applies to some customers (offshore). Knowledge education is still limited. High required capital from 100 usd |
What is skilling?
Skilling is a foreign exchange broker – STP technology fintech company that helps investors to buy and sell broker-enabled trading platforms. Skilling was founded by a Scandinavian technology group, the broker was first established in Malta and later moved offices to other destinations.
Skilling exchange is headquartered in Cyprus, and also serves investors in a number of legal branches in the UK. Due to an expansion project of the company, through an international organization operating in the Seychelles.
This Forex broker now has over 800 instruments and offers popular and powerful trading software including MT4 and cTrader. Not only that, but Skilling has developed its own proprietary Skilling Trader software to further advance technology, facilitate trading and enable traders to focus on performance.
Is Skilling a scam? good reputation
The most important thing, when choosing a broker is to verify their license and legal issues. Why? to ensure that the company’s operations comply with relevant trading requirements and internationally recognized financial standards for client protection.
Skilling Legitimacy
Skilling was first established in Malta. But then the broker moved its headquarters to Cyprus and as it was operating the company received a forex trading license from CySEC, a license that complies with the European ESMA standards and safeguards. Europe.
Along with the scale of expansion, they are present in many different countries and set up branches in the UK. Skilling also received legal permission to operate in the UK. In general, Skilling is regulated in each jurisdiction in which it provides trading services.
However, there is now a license from the foreign Seychelles, which instead offers just registration rather than serious regulation. But licenses from reputable authorities make Skilling a reliable Forex broker.
Trading Leverage
Forex brokers often provide traders with a leverage to take advantage of increased profits. However, leverage works in both its pros and cons, making profits and losses larger. For this reason, regulations around the world often impose restrictions on trading leverage to a specific level.
The level of leverage will depend on the Skilling registered institution you will be trading with. With significantly lower European regulations allowing leverage for retail traders is 1:30. For, expert has access to higher level up to 1:200.
However, for the international branch located in a Seychelles open account, Skilling allows you to use higher leverage up to 1:500. The most important thing with Leverage is that you know how to use it properly. Smart by learning.
Trading Account
Skilling offers a wide range of account types to cater to every trader’s needs and experience. So traders whether professional or beginner can login. However, because there will be other differences for some other jurisdictions.
Types of Accounts
Offers MT4 Account, as a Standard account with spreads and no trading commissions. For, MT4 Premium type, like ECN account with lower spread offers and applicable commission. Both of these account types can use the Metatrader 4 trading platform.
However, from the Premium account and the Standard account, it is similar to the two above accounts with almost the same trading conditions, different in terms of trading methods that will be used on Skilling cTrader and Skilling Trader, which you cannot Trade on Metatrader 4. This is probably sad news for some traders who are used to using Metatrader 4 as a limitation. But that is not a serious one, as cTrader and Skilling Trader may even be better suited for professional traders.
Trading products
For Skilling, traders have easy access to the most popular (Forex) currency pairs, and several crosses and minors, CFDs on Shares, Indices, Energy, Metals. Finally there are cryptocurrencies including 10 cryptocurrencies with Ripple, Ethereum, Litecoin, Bitcoin, and more. very popular among cryptocurrency investors.
Commission
As the majority of traders will make the choice of an MT4 account or a Standard account when all costs are built into the spread and start from 0.7 pips. In fact, EURUSD forex and liquid currency pair fees usually stand at a spread of 1 pip.
On a Premium or Premium MT4 account, a premium trader will offer interbank spreads from 0.1 pips and charge a commission of $35 for every million dollars traded. The cost is also quite competitive compared to other forex brokers like ICMarkets and Exness.
As for the CFD fees, they can be a bit higher if other brokers are considered the same. However, depending on the instrument, some spreads can be good, some a little higher. So you better consider all Skilling is good for you in general or not, because the quality of the broker is not only in the commision fee.
Trading platform
In addition to the all-too-popular MetaTrader4 option. Skilling adds powerful trading tools and software such as cTrader and Skilling Trader, a proprietary software that is quite advanced and easy to use.
Trading on Web and MT4 Platform
Choosing between platforms is really good, as it is the one that best suits the needs of that trader. Rest assured that trading like this is through a single account login. However, you should keep in mind that the Premium account does not support the MT4 platform.
Like FBS designed a dedicated software. Also Skilling Trader is specially designed by professional and proprietary trader software that is also a completely web-based platform. You can also use the mobile application that can conveniently transact anywhere.
Ctrader as well as MT4 support Web platforms. But better for comprehensive analysis recommended by itigtrader to trade on desktops or laptops. cTrader is better for professional traders as it is also known for its complex and powerful capabilities, with more indicators and risk management, according to the C# programming language.
Mobile trading platform
Supports trading via free and simple apps, they are compatible with iPhone and Android devices, support all platforms offered and allow to always control open, pending or closed trades Cancel more conveniently anytime, anywhere. Overall, as long as the software meets the trading needs best, it can suit your trader’s style.
How to deposit and withdraw money?
Skilling supports a variety of deposit and withdrawal methods, but generally does not charge commissions on all deposits and withdrawals. May vary depending on the region, according to regulations and policies, currently some payment channels support Vietnamese traders as follows:
- Visa credit card
- Fasapay, AtroPay, Directa
- Webmoney,
- Bank Wire, PayTrust
- E-wallets Neteller and Skrill
- Ngan Luong (itigtrader recommended)
Deposit
Skilling does not charge any deposit or internal transfer fees, deposits are processed instantly (may take longer if something goes wrong). And they allow capital deposit from 100$ or other currency equivalent.
Withdrawal
Skilling also does not charge fees on channels when processing normal withdrawals, usually with a maximum withdrawal time of 24 hours. However, for Visa or Bank wire transfers it can take up to 3 business days to process the transaction.
