Skilling | Review | CFD Trading Platform Review

Our Review

Skilling Review

What is skilling?

Is skilling safe or scam

Leverage

Accounts

Commission and swap charges

Trading instruments

Payment methods

Trading platform

Customer support

 Education 

Conclusion

What is skilling?

Skilling is an online Forex and CFD broker that is functioning from Cyprus. It deals with the trading of forex, indices, commodities, cryptocurrencies, and equities stocks on its platform. Skilling has also broadcast its partnership with Aston Villa and becoming a certified club partner for the 2020/21 season. Skilling also has sponsored Fulham FC’S in the 2019/2020 season.

The broker was established in 2016 and now offers over 800 different financial safety instruments from the globally recognized MetaTrader 4 trading platform c trader trading platform and the broker’s own skilling trader platform. The broker is controlled by the Cyprus Securities and Exchange Commission (CYSEC) and financial services authorities of Seychelles.

 

Is skilling safe or scam?

This is the first step to know when trading with any broker either it is regulated by some authorities or not. The broker must have licensed and internationally recognized and must act in accordance with the significant trading requirements. If a broker doesn’t provide you any license and is also not controlled by any authorities then your assets would not be safe.

But Skilling is safe as it has been licensed and checked and controlled by the Cyprus Securities and Exchange Commission (CYSEC) and financial services authorities of Seychelles. Skilling also has established its branch in the UK and has the approval to work legally there. The broker also provides a skilling ‘trader academy’ option in its dashboard so that beginners get training and information in order to protect them from loss. Skilling also protects its clients’ funds from its own funds and of course offers an investor compensation fund in order to offer certain protection to its traders. These features showed us that skilling is a safe platform for trading.

Pros	Cons
Licensed by Cyprus securities and exchange commission	Not for US residents
Legally functioning in UK
Powerful trading platform
Provides over 800 safety financial instruments
Internationally recognized
No commission and hidden charges
Separates its clients’ funds in tier 1 banks
Personal data is secured

 

 

Leverage

Leverage is the ‘loan’ provided to the investor by the broker and is expressed in the form of a ratio. Here are some levels of leverage provided by Skilling: 1:50, 1:100, 1:200, 1:250, 1:500 depending on the client's information and understanding. So the bigger your leverage will be then there is the bigger chance of profit and losses likewise.

Skilling provides a low level of leverage. For the beginner, the leverage retail will be 1:30 in standard, premium, and MT4 account. But it can also offer leverage to 1:200 to qualify professionals of all three accounts. Skilling also has different leverage on different financial instruments like on major FX it gives 1:30 leverage, Minor FX 20:1, Gold 20:1, Major indices: 20:1, Minor indices 10:1, Commodities 10:1, Shares 5:1, Crypto 2:1. However, if the entity is regulated with financial services authority in Seychelles, then the users can access leverage of 500 to 1

 

Accounts

Skilling offers three kinds of accounts to its traders: Standard, Premium, and MT4. These accounts have similarities such as they share the same leverage, the number of assets to share, scalping, or negative balance protection. But it is obvious that these accounts must have some differences too.

Pros	Cons
Easy to understand	No such cons found
User friendly accounts	Commission fees are not the cheapest.
Provide 3 types of accounts: standard, premium and mt4
One demo account for practice
Initial deposit is low
Quick navigation

Account types

Standard account

The standard account is best for beginners. The standard account is commission-free and charges zero commission on trades and it offers leverage of 1:30. The initial deposit is 100 Euro. This account is also available for skilling trader and skilling c trader and offers spread starting from 0.7 pips. Skilling also gives you a choice that if you qualify as a professional then it will provide you leverage to 1:200

Premium account

The premium account has some minor differences in deposit, commission, and spread as compare to a standard account. The premium account is commission based. The Initial deposit is 5000 euro and with a low spread starting from 0.1. This account is also available for the skilling trader and skilling c trader platform. If the volume surpasses the million then this account will have a 35$ commission on the trade. The premium account also offers leverage of 1:200 to qualified professionals.

 

MT4 Account

Skilling has recently launched its Metatrader 4, abbreviated as MT4 is the most prominent trading platform for forex retail traders. Any type of trader can use this and get the benefit but the forex community has the most market shares in it. This is available on any operating system, you can easily use this in Desktop, Web, Android, and iOS. The initial deposit of the MT4 account is 100 euro, pips 0.7, and zero commission. Skilling also offers leverage to 1:200 to qualified professionals from this platform.

 

Commission and swap charges

Skilling takes commission only in its premium account with the condition that if volume surpasses one million then it will take a commission of 35$. The commission will take according to the respective currency of the account.

Swap charges are the charges that you have to pay at the end of each trading day. It can be positive and negative cost, according to the way of your trade and applicable rate. The swap is charged automatically according to the account's respective currency. Skilling has different formulas for swap charges on forex, Crypto, indices, and shares.

 

Trading instruments

Skilling gives more than 800 instruments to trade on its forex and CFD trading platform.  Skilling gives you a long list of markets where you can trade. This include 73 currency pairs. These are the key forex pairs. This broker also give you a chance to trade in 10 major crypto currencies including Bit coin. Skilling also permits its clients to trade in shares, indices and commodities.

 

Deposit and withdrawals

Skilling provides a different payment method for deposits and withdrawals. Some methods are limited to certain countries.

How to make a deposit 

For depositing, you just have to go ‘dashboard’ after login and click on the ‘Deposit’ button. Then you will 1. Choose account 2.  Pick any payment method 3. You will get an email approving the deposit.

Deposit methods

For depositing, skilling provides you a different method. It offers Trustly, Master card, Skrill, Neteller, klarna, Swish, Credit, and Debit card. All deposits will be processed within one hour except Trustly or bank wire transfer which will take 1 to 3 working days for the transaction.

Minimum opening deposit

Minimum initials deposit depends upon the account type and respective currency. For a standard account, the initial deposit will be USD/EUR/GBP 100 OR SEK/ NOK1.000. For the premium account, it will be USD/EUR/GBP 5000 OR SEK/ NOK 50.000.

Cost and fees

Skilling does not cost any fees or hidden charges for deposits.

How to make a withdrawal

For withdrawal, Go to ‘Dashboard’ and click on the “withdrawal” button then first select your account, enter your amount and after that, you will receive a confirmation email if your request is approved.

All the withdrawals will be done within 1 working day. 

Trading platform

Skilling has three main trading platforms. It offers a choice to trade between skilled and professional Meta trader 4 (Mt4) and powerful c trader and with skilling own trader.

Pros	Cons
Simple and convenient software	Standard and premium account does not work with mt4 platform
Offers metatrader4, c trader and skilling trader
Platforms efficiently work on any operating system
Attract beginners, intermediate and experts

 

Customer support

Now, every website and business must have this option to assists its customers and clients at any time of need. Customer support services provide the solution to your problems. Skilling also offers a ‘contact us’ page with good customer services. If you contact them they become visible in a short span of time to answers your question.

Pros	Cons
It provide 24/5 support	No customer services available on weekend
It provides live chat, phone calls, and email support
Quick response and good communication skills
No language barrier

 

Education 

Although Skilling was established in 2016 it provides good education to its clients through its website. It offers a demo account for practice and also includes the latest news stories, updated economic calendar. The broker also has a list of courses for its beginners who are new to a trading platform.

Pros	Cons
a free demo account	No advanced guidance through webinars, videos
good research tools
Some Courses available for beginners, intermediate and experts

 

Conclusion

To conclude, skilling review revealed to us that although skilling is a new platform it has gained popularity and fame in just 4 years. With its user-friendly website, and easy navigation anyone can enjoy trading with this broker. One of the best options this broker gives you is to trade between industry leader mt4 and proprietary one. There would not be any risk to invest in it as this broker is regulated and controlled by authorities.