|Leverage||30:1 for Retail, Up to 300:1 for Pros|
|Account Types||Demo Account, Low Value or Micro Account, Standard Accounts, High Net Worth or VIP Accounts,|
|Customer Support||Single Language Phone Support, Single Language Live Chat, Single Language Email Support,|
Skilling began operations as a brokerage offering simple to navigate and easy trades for professional traders as well as beginners. Established in 2016, it originally was based in Malta before moving operations to their current corporate headquarters in Cyprus and is regulated by the Cyprus Securities & Exchange Commission, the FSA and FAC. In addition to its offices in Cyprus, Skilling has offices in Seychelles and the United Kingdom.
As a broker, Skilling offers over 850 instruments and operates using the trading software MT4 as well as cTrader. Beyond the development of its Skilling Trader software, the company focuses on providing a professional level of transparency that allows traders to focus their efforts on trade execution and performance.
Licensing and Regulation
Skilling has received licensing approval with the Cyprus Security and Exchange Commission and is further regulated by the FSA and FAC. Resultant on its licensing being confirmed, traders can have confidence that when executing trades, that the information transferred will be secure.
In addition, Skilling is in receipt of an SSL certificate. This verifies that information transferred to and from the brokerage firm is encrypted, thereby adding an additional layer of protection. While both licensing and encryption are integral parts to its platform, the use of in-house protective measures combined with customer service is paramount to the overall security at Skilling. Should any issues arise, immediate action can be taken, and to date, there have been no reports relating to security issues.
With an awareness of the importance mobile trading has for its traders. As such, Skilling offers access to mobile trading through several platforms. The first of those is a fully optimized mobile trading platform that features the same markets, pricing and trading options.
In addition to its mobile trading platform, traders have the option to download trading apps for iOS and Android. The apps, like the mobile platform feature access to the cTrader and MetaTrader 4 as well as all assistive trading tools, banking and support services.
The apps can be found directly via the Skilling website, or via Google Play Store or the App Store. Downloading is not difficult, and the option to use either the apps, mobile of desktop site is at the discretion of each trader.
Brand & Functionality
Skilling features an extensive number of functionality options that are designed to increase the flexibility and usability of its platform offers for traders. The most notable of the eight that standout include a trade assistant, drawing tools, and the ability to customise the platform through the use of multiple chart displays.
In addition, Skilling provides an economic chart to assist traders so they can understand the latest market trends. Furthermore, the company provides ultrafast order execution for over 800 instruments for FX, energy, metal, indices, cryptos and stocks.
From a functionality standpoint, trades are executed in 0.05 seconds with competitive spreads that being at 0.1 pips. Traders have the options to open multiple account types that are free of any hidden free. This applies to both standard and premium accounts and is applicable for all available platforms. (Skilling Trader, Skilling cTrader, Skilling MetaTrader 4 and Mobile)
Registering for an account with Skilling isn’t remotely challenging it is quite simple. The first step after selecting “Sign Up” is filling in the required details. The initial part of registration requests you prove and email address, password, and select your country of residence, while also providing a phone number, preferred account currency.
The next stage is focused on completing your user details. This entails entering your first and last name, providing your tax identification number if applicable and verifying your date and place of birth. Additional information will require entering your street address, postal code, city and verifying you have read and agree to the terms and conditions associated with account membership.
Thereafter, Skilling will require you provide information relating to employment, the industry to which you walk, your annual income, saving and investment information and your source of funds. Lastly, information relating to your education, investing experience and purpose for trading will be requested.
This is required as part of the regulatory requirements that govern Skilling’s licensing with the Cyprus Securities & Exchange Commission, FSA, and FAC.
There are serval methods that Skilling has available funding, and surprisingly, they are less than anticipated. At the moment, this includes deposits via Visa, Mastercard, Mastercard Debit, Skrill, Neteller and Trustly.
The process for depositing is as simple as selecting your preferred deposit method, entering the amount to deposit, then proceeding with the transaction by entering related login details or banking information.
Once submitted, deposits are processed immediately, and funds will reflect in trader accounts within 60 seconds or less.
Skilling offers a large variety of products that its traders can select and trade. This includes over 850 CFD instruments such as Cryptocurrencies, Indices, Stocks, Forex and Commodities. A example of what is available includes:
- Over 70 currencies
- Over 700 plus shares from around the world
- Stock trading on the S&P, Nasdaq, Dow Jones 30, UK 100 and Germany 30.
- Commodities including Gold, Silver, Oil, and Natural Gas
- Over 10 Cryptocurrencies including Bitcoin, Ethereum and Dash
Skilling understands that the rapid execution of trades is a key component of its success. Its low latency networks allow it to process most trades in less than half a second, and when it comes to constantly changing pricing, this is something that can have a substantial impact on profits.
While the platform does offer different spreads for its Standard and Premium account, its swap rates are maintained overnight, although these are based on the different access class. As for commissions and spreads, the costs associated with executing a trade is dependant on the type of account being used.
Standard accounts offer commission free trading with spreads of 0.7 pips, while its premium account offers commission based trades with spreads of 0.1 pips. For commissioned trades, these only are applicable for spot metals and FX pairs and range from €35 per million for USD/EUR trades to €50 per million for GPB/USD trades.
As mentioned, Skilling offers a limited number of deposit options for the purpose of funding trader accounts. Due to Skilling being an international company, it allows traders to process transactions using the US Dollar, Euro, British pound, Norwegian Krone or Swedish Krona.
While the minimum deposit is € 100, the maximum is €10,000. We should also mention that Skilling has several pre-set amounts that can be chosen with these ranging from €1000 to €5000. We should mention that when withdrawing, the minimum that can be withdrawn is based on your base currency. For traders using euros, that is €50, and likewise if using a different currency, the amount will equal 50 dollars, pounds, krona or krone’s as well.
Customer support is available to traders daily from 8am to 10pm CET. Traders are able to receive support in several languages such as English, Norwegian, Swedish, Spanish and German via telephone, email or live chat.
Support agents promptly respond in a professional manner and are qualified to answer any questions relating to the Skilling platform or any of the trading services that are offered. In addition to its standard support services, traders can access a “Help” section as well as its trade assistant and trading academy.
To assist their traders in becoming skilled at trading online, Skilling features several tools they can access. These include trade assistants for Forex, Commodities, Indices, Shares and Cryptos. Each is divided into categories relating the various types that can be traded.
In addition to its trade assistants, Skilling offers a trader academy where a vast amount of assistive information that is providing in series of lessons that covers everything from Basic, Intermediate and Advanced technical analysis training as well Trading Basics and Fundamental Analysis.