Skilling operates in financial markets since 2016 under the ownership of Skilling Ltd. As a forex broker, they should opt for trusted regulations for trading in the EEA zone.
Since they are Cyprus-based broker, traders expect them to have Tier 1-rated regulations. Skilling broker has a very fancy and detailed website. However, not all information is reliable. But let’s go through everything together in this Skilling review.
Before we go any further, we suggest reading our brokerage reviews on FXGM, Mex Atlantic, and VantageMarkets.
| Broker status: | Regulated Broker |
| Regulated by: | CySEC, FSA |
| Websites: | Skilling.com |
| Regulators’ Complaints: | N/A |
| Owned by: | Skilling Ltd |
| Headquarters Country: | Cyprus/Seychelles |
| Foundation year: | 2016 |
| Supported Platforms: | Web trader |
| Minimum Deposit: | 100 USD/GBP/EUR |
| Cryptocurrencies: | Yes – LTC, ETH, XRP |
| Types of Assets: | Forex, Commodities, Indices, Shares, Cryptocurrencies |
| Maximum Leverage: | 1:30/1:500 |
| Free Demo Account: | Yes |
| Accepts US clients: | No |
Is A Skilling A Regulated Broker?
Skilling Ltd has a CySEC license since 2018. Besides that, they managed to raise suspicion among traders. CySEC is a quite popular regulator in Europe. Especially for the EEA zone countries, it plays a huge role. Unfortunately, even their rules are not enough for some trading companies.
That’s why we are always looking for Tier 1 regulators like FCA, BaFin and ASIC. On the negative side, this broker doesn’t have any of mentioned licenses. As a matter of fact, for most pro traders this information is key in decision-making.
Above all, the Skilling broker has another entity based in Seychelles. It’s FSA regulated, but it’s used for trading with non-EU citizens.
Skilling is a broker with one offshore and one EU-based entity. Be careful and check which one you are trading with.
What Traders Are Saying About Skilling
Besides regulations, we always check what other traders think. Unfortunately, Skilling reviews are not so encouraging. For instance, many traders complained about withdrawal issues. In addition to that, some traders claim to experience platform manipulation and pressure tactics.
Broker has an average rating of 4.3 stars on Trustpilot and 138 total reviews. However, there are almost 10% of clients were not facing some issues.
Skilling Software – Platform Comparison
Skilling trading software is quite user-friendly. Even though it looks like a slightly changed TradingView.
However, they lack some essential advanced trading tools. Not to mention features like social and copy trading, advanced EAs, automated options and more. That’s why pro traders stick to proven platforms like MetaTrader and cTrader.
The Mobile Version Is Available?
Indeed, Skilling software is available for download on a mobile. Whether it’s an Android or iOS device, you can get it from the store. A suspicious part comes when you want to download Meta Trader 4. Which broker claims to provide for traders. In fact, you are redirected again to download the Skilling trading app.
CTrader
In general, the only software that we can compare with MetaTrader is cTrader. It allows traders to use advanced trading indicators and charging options. Moreover, they have one of the best-designed social trading options.
So, if you choose this platform you won’t make a mistake. However, it’s the same story as with MetaTrader. You are redirected to download the Skilling trader app.
Skilling Trader
The Skilling trader app is nothing but a proprietary trading platform. On the positive side, it’s not a web-based one. It’s available for download on any mobile device.
But what raises our suspicion and doubt in this broker is the constant redirection to download this app. Instead of MetaTrader and cTrader that are the most trusted options.
Skilling’s Trading Assets and Instruments
Skilling broker offers more than 300 instruments. Divided into 5 major classes, traders have a vast of options for investing. Some of those are:
- Forex AUD/NZD, GBP/JPY, EUR/NOK
- Commodities gold, crude oil, coffee
- Indices UK 100, Dow Jones, S&P 500
- Shares Alibaba, Tesla, GM
- Cryptocurrencies LTC, ETH, XRP
Important to realize is that with a proprietary trading platform, they can use their spreads. Which are not so competitive, to be honest.
Skilling Countries Of Service
As can be seen in Skilling reviews they are mainly targeting traders from:
- United States
- United Kingdom
- Canada
- Sweden
- India
In general, some of these countries have very strict regulations. For instance, since the UK left the EU, companies need to get or TPR or FCA license to trade with UK clients. Must be remembered that the Skilling broker has only a CySEC license.
What Are The Different Skilling Account Types?
Skilling brokers offer only 2 different account types. Those are:
- Standard 100 EUR
- Premium 5.000 EUR
Whatever platform you want to use, you have same conditions through the same account type. The only benefit of a Premium account is spread. Which is lowered from 0.7 to 0.1 pips.
Can a Trader Use a Demo Account?
To sum it up, yes. Many regulated brokers are required indeed to provide this option. That’s a great choice for beginners to check the platform and get familiar with the broker. However, we always recommend looking for a micro-trading account.
Skilling Promotions
There are two options available. The IB or to be an affiliate. Whatever you choose, idea is to bring more traders online. Of course, you are rewarded with a 50% revenue share or up to $800 CPA.
Terms and Conditions for Skilling – What You Should Know
The important fact is that this broker has an offshore entity. So, depending on what entity you are trading with, you have different terms and conditions. Simply because of the regulations. While EU regulators are more strict, you should go through all T&Cs carefully.
Leverage, Spreads and Fees
For the EU entity, leverage is according to regulations up to 1:30. However, for offshore entities leverage goes up to 1:500.
Even though they offer competitive spreads, with high leverage you can easily lose everything. As for fees, they have an average $4 commission, which is way higher than some regulated brokers.
What Should I Do If I Have a Problem with Skilling?
Firstly, share your story with us. Secondly, have in mind that his broker has two entities. You can contact their regulator first and seek a solution.
Some traders already complained about withdrawal issues. With discovering the second entity it becomes more understandable. Because some companies are using offshore registered companies with loose licenses for grey zone activities.
Think twice before you invest money here. But if you have any problem with funds, contact us. Our specialized fund recovery team can find you a solution and advise you on the first steps.
What Is Skilling?
Skilling is a trading company that operates in Cyprus and Seychelles since 2016.
Is Skilling a Regulated Broker?
Yes. Their European entity has a CySEC license, while the offshore entity has an FSA license. However, besides licensing some traders had withdrawal issues.
Is Skilling Available in the United States or the UK?
Skilling trading company offers services to the both mentioned countries. But without a TPR or FCA license for the UK clients.
Does Skilling Offer a Demo Account?
To sum it up, yes. Besides 2 live trading accounts, traders can test the waters first with virtual funds.