Skilling

Overview of Skilling

Skilling is a regulated financial technology company offering online trading services. Established within the past 2-5 years, it provides access to a wide range of trading instruments, including currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks, and ETFs. The minimum initial deposit is $100, and the leverage varies between retail traders (1:30) and professional traders (1:200). Skilling offers competitive spreads starting from 0.1 pips and provides multiple trading platforms such as Skilling Trader, SkillingView, SkillingcTrader, Skilling MT4, and Skilling Copy. Deposits and withdrawals can be made via bank transfers, direct banking, e-wallets, and other methods. Customer service is available through email, phone, address, and live chat.

Regulations of Skilling

Skilling Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under registration number 357/18. CySEC is the regulatory authority responsible for overseeing and supervising investment firms operating in Cyprus. As a regulated entity, Skilling is required to comply with certain rules and regulations to ensure the safety and security of its clients' funds and provide transparent and fair trading services.

Pros and Cons

Skilling demonstrates its safety and reliability with its regulatory framework under the Cyprus Securities and Exchange Commission (CySEC). Traders can access a wide range of instruments, including currencies, indices, commodities, metals, energy, cryptocurrencies, stocks, and ETFs. The company's competitive spreads, starting from 0.1 pips, provide favorable trading conditions. Additionally, Skilling offers multiple user-friendly trading platforms, ensuring flexibility and convenience for traders.

One limitation of Skilling is the absence of a dedicated education section on its website. Although the company may provide educational resources through alternative channels, this could be a drawback for traders seeking comprehensive learning materials. Moreover, the Premium and MT4 premium accounts have additional commissions, which may affect certain traders' cost considerations. Additionally, customer support is limited to CET hours, and 24/7 availability is not offered.

Market Instruments

Skilling provides its clients with access to a diverse range of trading markets. This includes various currency pairs, which are commonly traded in the foreign exchange (Forex) market. Currency pairs represent the exchange rate between two different currencies, such as the EUR/USD (Euro/US Dollar) or GBP/JPY (British Pound/Japanese Yen).

In addition to currency pairs, Skilling offers trading opportunities in indices.

Indices are financial indicators that measure the performance of a group of stocks from a specific region or industry. Examples of indices include the S&P 500, FTSE 100, or NASDAQ.

Commodities, such as gold, silver, crude oil, and natural gas, are also available for trading on Skilling. These are physical goods that are traded on commodity exchanges and can be influenced by factors such as supply and demand dynamics, geopolitical events, and economic conditions.

Metals, including precious metals like gold and silver, are another category of trading instruments available on Skilling. These metals are often sought after as stores of value and can be influenced by various market factors.

Energy products, like crude oil and natural gas, are also tradable on Skilling. These commodities play a crucial role in the global economy and their prices can be impacted by geopolitical tensions, supply and demand dynamics, and other factors.

Skilling also provides access to cryptocurrencies, which are digital or virtual currencies that use cryptography for security. Examples of popular cryptocurrencies include Bitcoin, Ethereum, and Litecoin.

Furthermore, Skilling offers trading opportunities in stocks and exchange-traded funds (ETFs). Stocks represent ownership in publicly traded companies, while ETFs are investment funds that track the performance of a specific index or sector.

Overall, Skilling offers a wide range of trading markets, catering to both beginners and experienced traders who are looking to trade in various financial instruments.

Account Types

Skilling offers different account types to cater to the diverse needs of traders.

The Standard Account provides access to Skilling Trader and Skilling cTrader platforms, with spreads starting from 0.7 pips. It requires a minimum starting deposit of 100 € and offers leverage of 1:30 for retail traders and 1:200 for professional traders. With the Standard Account, traders can trade a wide range of instruments, including 73 currency pairs, 50 cryptocurrencies, 18 indices, 6 commodities, and over 760 equities.

For traders looking for enhanced features and lower spreads, the Premium Account is available. It offers the same Skilling Trader and Skilling cTrader platforms as the Standard Account but with tighter spreads starting from 0.1 pips. The minimum starting deposit for the Premium Account is 5000 €. While there is a commission of $35 per million traded, traders gain access to the same wide range of trading instruments as the Standard Account.

For those preferring the popular MetaTrader 4 (MT4) platform, Skilling offers the MT4 Account and MT4 Premium Account. Both accounts provide access to the MT4 platform and offer spreads starting from 0.7 pips and 0.1 pips, respectively. The MT4 Account requires a minimum starting deposit of 100 €, while the MT4 Premium Account has a minimum starting deposit of 5,000 €. Both accounts offer leverage of 1:30 for retail traders and 1:200 for professional traders. Traders using the MT4 Account can trade 53 currency pairs, 6 cryptocurrencies, 16 indices, 5 commodities, and over 80 equities. The MT4 Premium Account offers the same instruments as the MT4 Account.

With these different account types, Skilling aims to provide flexibility and options for traders, allowing them to choose the account that best suits their trading preferences and goals.

How to Open an Account？

To open an account with Skilling, please follow these steps:

1. Visit the Skilling website at https://skilling.com/. On the homepage, you will find a “Sign Up” or “Create Account” button. Click on it to begin the account registration process.

2. You will be directed to the account registration page. Here, you will need to provide some personal information, including your full name, email address, and phone number.

3. Next, you will be asked to select the account type you wish to open. Skilling offers different account types, such as Standard, Premium, MT4, and MT4 Premium.

4. Review and accept the terms and conditions of Skilling by checking the appropriate box.

5. Once you have provided all the required information, click on the “Create Account” or “Register” button to submit your application.

6. After successfully verifying your account, you can proceed to fund your trading account. Skilling provides various deposit methods, including bank transfers, e-wallets, and more. Once your account is funded, you can access the Skilling trading platform and start trading in the financial markets.

Skilling offers competitive spreads for its trading accounts. For Standard and MT4 accounts, the spreads can be as low as 0.7 pips. On the other hand, Premium and MT4 premium accounts enjoy even lower spreads, starting from 0.1 pips.

It's important to note that Premium and MT4 premium accounts have a commission of 3.5 USD per lot, which is an additional cost associated with trading on those account types. These pricing details aim to provide transparency to traders and allow them to make informed decisions based on their trading strategies and preferences.

Trading platforms

Skilling provides traders with a variety of intuitive and powerful trading platforms for trading the various offered instruments. The trading platforms include their proprietary Skilling Trader and the sophisticated cTrader/MetaTrader 4 trading platforms.

Leverage

The leverage offered by Skilling varies depending on the client type and the instrument being traded. For retail clients, the maximum leverage available is 1:30. This is in place to prioritize the safety of retail client funds and mitigate the risks associated with higher leverage. On the other hand, professional clients who have undergone a verification process to confirm their level of knowledge and experience can benefit from higher leverage ratios of up to 1:200.

Different instruments may have different leverage requirements or restrictions in order to ensure responsible and balanced trading practices. Traders should be aware of the leverage available for each instrument they trade and consider their risk tolerance and trading strategy accordingly.

Fees

Skilling charges trading fees and commissions primarily for its Premium account holders trading forex pairs, spot metals, and cryptocurrencies:

Forex and Spot Metals

• Commission Rates: Start at $35 per million USD traded.

• Specific rates vary by instrument, e.g., EUR/USD at $35 and Gold at $60 per million.

Cryptocurrencies

• Commission: Begins at 0.1% of the position value.

Commission Calculation

Commissions are calculated based on the base currency trade size, adjusted for the USD exchange rate, and converted into the account's currency.

Swap Fees

• Charged daily at 22:00 GMT, swap fees can be positive or negative based on trade direction and interest rates.

• Swaps are calculated daily with a one-day rollover, except on Wednesdays when a three-day charge applies to cover the weekend.

Deposit & withdrawal

Skilling provides a variety of deposit and withdrawal methods to cater to the needs of its clients. The available payment methods include:

1. Bank Transfers: Clients can make deposits and withdrawals using bank transfers. This method allows for direct transfers between the client's bank account and their Skilling trading account. It provides a secure and reliable way to move funds.

2. Direct Banking (Trustly): Skilling supports direct banking through Trustly, which enables clients to transfer funds directly from their bank accounts to their trading accounts. This method offers convenience and efficiency in transferring funds.

3. Sofort: Sofort is another payment method available on Skilling. It is a popular online banking method that allows for instant transfers from the client's bank account to their trading account. It provides a fast and secure way to deposit funds.

4. Swish: Swish is a mobile payment method that is widely used in Sweden. Skilling supports Swish as a payment option, allowing clients to make deposits quickly and easily using their mobile devices.

5. e-Wallets: Skilling also accepts deposits and withdrawals through various e-wallets. These may include popular e-wallet services such as Neteller, Skrill, and others. E-wallets offer a convenient and secure way to manage funds online.

When it comes to fees and processing times, specific details may vary depending on the payment method used. Skilling provides transparency regarding any applicable fees and the estimated processing times for each payment method on their website. It is recommended for clients to review this information or contact Skilling's customer support for the most up-to-date details regarding fees and processing times associated with their chosen payment method.

Educational Resources

Skilling offers a wealth of educational resources, including video tutorials on trading Forex, Bitcoin, CFDs, commodities, and stocks, as well as videos on trading strategies like social trading and market analysis. These comprehensive materials cover various aspects to help traders easily get started and enhance their trading skills.

Customer Support

Skilling offers customer service in multiple languages, ensuring support in English, Spanish, German, Chinese, French, Italian, Portuguese, Romanian, Thai, Vietnamese, and more.

The customer support service operates from Monday to Friday, between 04:00 and 23:00 CET. Customers can contact support via email at support@skilling.com or through two phone numbers: +357 22 276710 and +44 208 080 6555.

Skilling has physical addresses in Cyprus, Spain, and Malta for different operations. They maintain an active presence on Facebook, Instagram, LinkedIn, YouTube, and Twitter, providing news, updates, educational content, and a platform for interaction with customers.

FAQs

Is Skilling regulated, and what authority oversees its operations？

Yes, Skilling is regulated by the Cyprus Securities and Exchange Commission (CySEC) under registration number 357/18.

What are the minimum and maximum leverage options for traders on Skilling？

Retail traders can enjoy a maximum leverage of 1:30, while professional traders can access higher leverage up to 1:200.

What are the available payment methods for deposits and withdrawals on Skilling？

Skilling offers various payment options, including bank transfers, direct banking through Trustly, Sofort, Swish (for Sweden), and e-wallets such as Neteller and Skrill.

How can traders contact Skilling's customer support？

Traders can reach Skilling's customer support through email at support@skilling.com or via phone at +357 22 276710 and +44 208 080 6555.

What are the available trading platforms on Skilling？

Skilling provides multiple trading platforms, including their proprietary Skilling Trader, the advanced Skilling cTrader, and the well-established Skilling MetaTrader4.