In this Skilling Broker review, we’ll look into everything you need to know about the Skilling platform.
This guide will cover the history of Skilling Broker, its key features, pros and cons, customer reviews, and how to get started, plus frequently asked questions.
By the end, you’ll have a clearer picture of whether Skilling is the right broker for your trading needs.
What is a Skilling Broker?
Skilling is an online trading platform where people can buy and sell various types of financial assets, such as currencies (forex), stock market indices, and cryptocurrencies.
Founded in 2016 and based in Cyprus, Skilling was designed to be beginner-friendly, with a simple and easy-to-navigate interface.
This platform suits beginner and intermediate traders who may not have extensive experience in trading and want a more straightforward way to understand and participate in the market.
With Skilling, users can access a variety of markets on one platform. The design and tools make it easier for new traders to learn the basics while providing enough options for those with more experience.
Skilling focuses on being accessible and user-friendly, helping more people to feel confident as they get started with online trading.
History of Skilling Broker
Skilling started with the goal of making online trading easier for newcomers who might find the world of trading complex and intimidating.
Since it launched in 2016, Skilling has become known for its simple design and competitive fees, which make it an attractive option for many traders, particularly in Europe.
Skilling is regulated by two official bodies: the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (FSA).
This regulation means that Skilling follows strict rules to protect customers’ funds and to ensure transparent business practices.
Regulation by recognized authorities builds trust among users, assuring them that the platform operates within guidelines that prioritize user safety and ethical practices.
Key Features of Skilling Broker
1. Range of Markets
Skilling provides a variety of trading options, giving users the chance to trade in different types of financial markets.
Some of the main markets available for Skilling include:
- Forex (Foreign Exchange): This is where users trade currency pairs like EUR/USD or GBP/JPY, buying one currency while selling another.
- Indices: Indices represent the overall performance of a group of stocks, such as the S&P 500 or FTSE 100.
- Stocks: Traders can invest in individual companies, like Apple, Amazon, or Tesla.
- Cryptocurrencies: Popular digital assets like Bitcoin and Ethereum are available for trading on Skilling.
2. Platforms Available for Trading
Skilling offers two main platforms that suit different types of traders:
- Skilling Trader: This is Skilling’s platform, built to be easy to use with a clean layout. It’s ideal for beginners because it simplifies the trading process and offers basic tools for making informed trading decisions.
- MetaTrader 4 (MT4): This is a popular trading platform known for its advanced tools and features. More experienced traders often prefer MT4 because it allows them to analyze market trends in detail.
Both platforms are available for desktop, web, and mobile devices, so traders can access their accounts and make trades from almost any device.
3. Account Types
Skilling offers two types of accounts to fit the needs of different traders:
- Standard Account: This account type has lower deposit requirements, making it ideal for beginners or those who want to start trading with a smaller investment.
- Premium Account: This account requires a higher deposit but offers lower trading spreads (the difference between buying and selling prices), which can help active or high-volume traders reduce trading costs.
4. Education & Tools
Skilling supports its users with educational resources to help them learn about trading:
- Demo Account: Skilling provides a demo account where new users can practice trading without risking any real money. This is a valuable tool for beginners to learn how to use the platform and test strategies in a risk-free environment.
- Skilling Academy: This section includes basic tutorials, articles, and videos that explain fundamental trading concepts and strategies. Users can learn about topics like risk management, reading charts, and understanding market trends, helping them build a solid foundation in trading.
5. Customer Support
Skilling offers customer support to assist users with any questions or issues. Customers can reach support through:
Phone: For direct and personalized help.
Email: For inquiries that may not need immediate responses.
Live Chat: For quick help, live chat is available on the platform.
Pros of Skilling Broker
- User-friendly interface, great for beginners.
- Multiple account options catering to different trading needs.
- Offers cryptocurrency trading alongside traditional markets.
- No withdrawal or inactivity fees.
- Regulated by trusted financial authorities (CySEC and FSA).
- Provides negative balance protection, which prevents losses beyond your account balance.
Cons of Skilling Broker
- Limited product range (no commodity trading or precious metals).
- No copy trading feature, limiting social trading options.
- Skilling is not available to traders in certain countries, including the U.S., Japan, and South Korea.
Customer Review of Skilling Broker
Customer feedback on Skilling Broker is mixed, with both positive and negative review.
Many users appreciate the ease of use and accessibility of Skilling’s platform.
They report satisfaction with the platform’s transparency in fees and the convenience of the mobile app, which allows trading on the go.
Some users also find the educational resources helpful as they navigate through trading for the first time.
On the downside, some users feel that Skilling’s lack of commodity and metal trading limits their investment options.
A few users have also mentioned that the withdrawal process can be somewhat slow, although there are no fees involved.
There are some concerns about the lack of copy trading features, which limits Skilling’s social trading capabilities.
Skilling’s Official Statement
Skilling states:
“Our platform is designed to bring ease and transparency to trading. We are committed to providing a reliable and efficient service that empowers our users to make informed decisions.”
How to Get Started with a Skilling Broker
Getting started with Skilling is straightforward. Check below for a step-by-step guide:
1. Create an Account
Go to the Skilling website and sign up by providing basic personal information and verifying your email.
2. Choose an Account Type
Select either a Standard or Premium account based on your trading volume and the spreads you prefer.
3. Deposit Funds
Skilling requires a minimum deposit of $100. You can deposit using bank transfers, credit/debit cards, or e-wallets.
4. Use the Demo Account
Before trading live, take advantage of Skilling’s demo account to get familiar with the platform.
5. Start Trading
Once comfortable, you can start trading in your chosen markets using Skilling’s tools.
Frequently Asked Questions
1. Is Skilling Broker safe to use?
Yes, Skilling is regulated by CySEC and FSA, ensuring security measures like negative balance protection and SSL encryption for user data.
2. What is the minimum deposit for Skilling?
The minimum deposit to start trading on Skilling is $100.
3. Does Skilling offer a demo account?
Yes, Skilling provides a demo account for users to practice trading without financial risk.
4. Can I trade commodities on Skilling?
No, Skilling doesn’t offer commodity trading, which may be a limitation for some users.
Conclusion
Skilling Broker offers a straightforward trading experience that’s ideal for beginners and intermediate traders.
With its user-friendly interface, multiple account types, and accessible educational tools, Skilling is a strong choice for those new to trading.
Its limited market range and lack of certain features like copy trading may be a drawback for advanced traders.
Skilling Broker review indicates a reliable platform with solid support for most trading needs.
For traders seeking a simple, transparent, and secure way to enter the markets, Skilling may be an excellent starting point.