Skrill Forex Brokers Overview

Skrill is a safe and secure way to transfer money online. In this overview, we have selected some of the best Forex brokers accepting Skrill to investigate in detail with respect to their fund security, regulation, and unique features. All information in this article was taken directly off the websites of the Skrill money brokers. Read on to find the one that will work best for you.

Top Forex Brokers Accepting Skrill in 2021

Trading with Skrill is now more popular than ever in the finance industry. It was founded in 2001 and has since quickly grown to become one of the most common e-wallet options available internationally. Skrill works like an e-wallet. Here are some top Forex brokers that take Skrill as a payment method:

  • Rating
  • Spreads
  • Funds Safety
  • Payment Options
  • Tradable Instruments

Key Features: Zero internal fees incurred in transactions, negative balance protection, low trading costs, quick execution, free Forex signals, and 50% welcome bonus

Platforms: MetaTrader 4, Metatrader 5, ProTrader, WebTrader, Vantage FX App

Minimum Deposit: $200

Maximum Leverage: 1:500

License: ASIC, VFSC, CIMA, FCA

Pros Cons
This Skrill broker charges no internal withdrawal fees

Simple deposits and withdrawal

Free forex signals

Trade execution is fast

– Deposit currencies lack options

– High stock CFD charges

  • Rating
  • Spreads
  • Funds Safety
  • Payment Options
  • Tradable Instruments

Key Features: Personal account manager, market research available, more than 5,000,000 clients, available in over 30 languages, over 25 payment options, and over 15 trading platforms

Platforms: MetaTrader4, MetaTrader5

Minimum Deposit: $5

Maximum Leverage: 1:888

License: IFSC, CySEC, ASIC, DFSA

Pros Cons
Fast trade execution

Negative balance protection

Award-winning broker

99.35% success in completing orders in less than 1 second

– The product portfolio is not impressive

High Forex fees

Customer support isn;t available on weekends

  • Rating
  • Spreads
  • Funds Safety
  • Payment Options
  • Tradable Instruments

Key Features: Maintains users’ current leverage, prioritizes accessibility to new products, provides security for segregated funds, advanced trading tools, including Depth of Market (DoM), ladder trading, one-click trade module, etc.

Platforms: Metatrader4, MetTrader5, WebTrader, cTrader, cTrader Algo

Minimum Deposit: $200

Maximum Leverage: 1:500

License: FSA, ASIC, CySEC, SCB

Pros Cons
Competitive Forex fees

Low swap rates

Fast account creation

Zero internal fees incurred on deposits and withdrawals

24/7 customer service

– No negative balance protection

– Starting deposit of $200

  • Rating
  • Spreads
  • Funds Safety
  • Payment Options
  • Tradable Instruments

Key Features: Advanced trading tools, such as Stop Limit, Stop Loss, and Guaranteed Stop, to limit losses and profit lock-ins, 60+ Forex pairs with leverage, and free live Forex quotes

Platforms: WebTrader

Minimum Deposit: $100

Maximum Leverage: 1:300

License: ASIC, CyCES, FSA, ASIC, FSCA. MAS

Pros Cons
Simple and functional platform

No fees for deposits, withdrawals, live share CFD prices, live Forex quotes

Advanced tools in the charting feature for technical analysis

Beginner trading videos

+ Guaranteed stop order

– No educational content on Forex or CFDs

No advanced trading videos, tutorials, or guides

Inactivity fees

  • Rating
  • Spreads
  • Funds Safety
  • Payment Options
  • Tradable Instruments

Key Features: Ultra-fast execution, high security, zero fees on deposits and withdrawals, deep liquidity, multilingual customer support, zero commission, and competitive spreads.

Platforms: MetaTrader4, MetaTrader5, FxPro, and cTrader

Minimum Deposit: $100

Maximum Leverage: 1:200

License: FCA, CySEC, FSCA, SCB

Pros Cons
+ Very fast execution – most orders are fully complete in less than 14 milliseconds

Award-winning broker

Extensive educational materials, analysis and trading tools

No Dealing Desk intervention

High security standards

– High trading CFD charges

– Inactivity fees

  • Rating
  • Spreads
  • Funds Safety
  • Payment Options
  • Tradable Instruments

Key Features: Social trading, no fees for opening an account, low deposit fees, multi-asset platform (2000+), ready-made copy portfolios

Platforms: eToro

Minimum Deposit: $50

Maximum Leverage: 30:1

License: CySEC, FCA, ASIC, GFSC, FinCen, FINRA

Pros Cons
+ Free account opening

36 cryptocurrencies

High levels of fund safety

High cyber security

– Withdrawal fees

Slow withdrawals

  • Rating
  • Spreads
  • Funds Safety
  • Payment Options
  • Tradable Instruments

Key Features: 8000+ markets, 16 local offices, multilingual support, free live charts, research, and news,

Platforms: MetaTrader4, MetaTrader5, WebTrader, mobile app

Minimum Deposit: €1

Maximum Leverage: 1:30

License: FCA, CySEC, AFSL

Pros Cons
8000+ instruments

Highly regulated and secure

Multiple educational resources

Negative balance protection

– Inactivity fee
  • Rating
  • Spreads
  • Funds Safety
  • Payment Options
  • Tradable Instruments

Key Features: Over 60,000 traders in 100+ countries, competitive pricing, raw spreads, and Autochartist

Platforms: MetaTrader4, PsyQuation, MyFXBook, Zulutrade, Signals

Minimum Deposit: $1

Maximum Leverage: 1:500

License: ASIC, FCA

Pros Cons
+ Zero Forex fees

No activity fee

Educational tools and resources

Five trading platforms, including one that is AI-based

– Constricted research tools

– Customer support is unavailable on weekends

What Is Skrill?

The Skrill payment method is one of the most efficient ways to virtually deposit and withdraw funds. It allows you to pay via over 100 local payment methods. The payment solution also offers various withdrawal methods depending on where you are based and is available in more than 40 currencies. It submits to the jurisdiction of the courts of England and Wales.

Apart from using Skrill for forex broker, gambling, and non-gambling purposes, it is used by crypto investors because fiat currencies can be easily converted into crypto using the payment method.

Why Choose Skrill for Trading?

Skrill offers its customers an unmatched breadth of choice for brokers they want to trade through. Owing to its rising popularity, more and more brokers are accepting it as a payment method.

Skrill’s advantages, such as speed, security, and global recognition, make it a good payment method.

Skrill is probably one of the most secure ways to trade online because it acts as a third party in all transactions, protecting brokers and traders from fraud. It only takes a small percentage fee when used for withdrawals. Low charges mean greater profits for brokers and traders.

How to Pick a Decent Skrill Money Broker?

It’s important to know all the criteria while selecting a Skrill money broker so that you can make an informed decision. Take a look at the key factors to consider:

  • Minimum deposit: This is the amount you will need to provide for opening an account with the broker. Considering the market’s high volatility, this can also be said as the amount you can afford to lose. Several brokers have impressively low minimum deposits in the list above, with Axitrader standing out at $0.
  • Payment options: This is also vital because the security of your funds is involved. So while selecting your broker, check if the Skrill money broker offers reliable money transfer methods.
  • Tradable instruments: Check all the options you can trade with the brokerages, for instance, CFDs, stock, Forex, etc.
  • Trading platforms: Check if the trading platforms offered by these brokers are popular and registered. Some good options include MT4, MT5, and WebTrader.
  • Spread types: Check the spread type the broker supports (if applicable).
  • Customer support: Take a look at the levels of customer services offered by the Skrill money broker. Most Forex brokers provide 24/5 customer support. However, some have 24/7 live support available.
  • Accounts types: Browse through the type of accounts the Forex brokers accepting Skrill offer, including standard, corporate, and demo.

Deposits and Withdrawals Breakdown

Once you have decided on your broker, you will need to make a deposit to begin trading. Further, a withdrawal would also be required at some point of Forex trading. Below we discuss deposits, withdrawals, necessary documentation, and the usual processing time.

The Step Involved

Learn how to deposit with your Forex broker using Skrill:

Step1: Log in to your Forex broker account and go to the ‘Deposit’ section.

Step 2: Select ‘Skrill’ as the deposit method and enter the amount you want to deposit in the broker’s account.

Step 3: Confirm the details if prompted.

Step 4: Log in to your Skrill account after being redirected.

Step 5: Within the Skrill window, select your payment method and confirm the details.

Step 6: And your deposit is made!

The same process will follow for withdrawals:

Step 1: Log in to your broker account but proceed to the ‘Withdrawal’ section and select Skrill.

Step 2: You may need to enter a verification code to confirm the transaction.

Step 3: Login to your Skrill account and wait for your withdrawal to be processed. That is it!

Required Documents

For a Skrill account verification, you will be required to provide a valid ID issued by the government, along with address verification.

Usual Payment/Withdrawal Processing Times

In the case of debit or credit cards, the transaction will be instantaneous, whereas bank transfers may take 2-5 days.

Skrill Money Brokers Fees

The Forex brokers accepting Skrill we discussed above have varying options for money transfers and inactivity fees. While some do not take any fees, others do. The table below provides the details:

Skrill Forex Broker Deposit Fee Withdrawal Fee Deposit/Withdrawal Time Inactivity Fee
VantageFX No internal fees (subject to Skrill fees) No internal fees Within 24 business hours No
XM Broker No No Instant/24 hours $5
IC Markets No No Instant/3-5 days No
Plus500 No No Instant/3-7 business days $10
FXPro No No 10 mins/1 day $15
eToro No fees (FX fees may apply) $5 Instant/2 days $10
Admiral Markets 0.9%, min. 1 currency unit 1%, min. 1 currency unit Instant/Instant €10
Axitrader No No Instant/1-3 days No

Money Transfer

Money transfer usually incurs no charge on most Skrill Forex brokers. However, external charges (from the bank’s end) may be applied. These charges will depend on the broker.

Skrill money transfer allows you to send money abroad by converting it into different currencies at no extra cost.

Inactivity Fee

Inactivity fee refers to the charges incurred per month if the Skrill money brokers notice zero trading activities or open positions in the account after a specific period, for instance, 3, 6, or 12 months.

Skrill also charges an inactivity fee for maintaining dormant accounts.

Security of Payments With Skrill Forex Brokers

All the selected Skrill brokers above were checked for data security, the safety of funds, licenses, regulations, and privacy policies. They have these details spelled out on their official websites too.

Special Bonus Offers From the Brokers That Take Skrill

Skrill encourages users to use the payment method for easy and secure transactions on Skrill Forex brokers. The Knect loyalty program rewards points for every transaction you make, which can further be exchanged for bonuses, cash, and more.

Brokers, however, do not offer any special bonuses for using Skrill on their platform.

Pros and Cons of Skrill for Trading

Skrill is one of the best e-payment methods you can opt for and has many advantages. However, there are some downsides as well, which we list below.

Pros Cons

+ Free registration

Fast transactions

+ Skrill money transfer enables free FX transfers

+ Strong data encryption

Knect loyalty program to earn cash rewards and bonuses

+40+ currencies supported

One-tap payments

Chargeback protection

It supports brokers with very low deposits. For instance, Admiral Markets is a forex broker with Skrill and 1 USD minimum deposit.

– Withdrawal fees

Maintenance fees for inactive accounts

– High currency conversion fee

KYC verification

Get the Best Terms With Baxity

When you create a Skrill account with Baxity, you will receive special benefits, such as:

  • VIP status: A registration through Baxity will earn you preferential VIP status. Get a VIP Silver status at €5,000 deposit instead of €15,000.
  • Fast-track verification: Apart from a VIP Status, your account will be verified lightning-quick within 24 hours if registered through Baxity, which will require no deposit.

Skrill Alternatives

There are two alternative virtual payment methods you can use in place of Skrill, namely Neteller and ecoPayz. Both are secure and reliable and can be availed with bonuses through Baxity.

Neteller

neteller logo 2021Neteller is a digital wallet that allows you to manage your money efficiently. Through Baxity, a Neteller registration will earn you an Instant Bronze PRO status, 24-hour verification, and a VIP Silver status for deposits worth $5,000.

ecopayz casino norwayecoPayz

Another alternative, ecoPayz, allows quick, secure, and reliable international money transfers. To avail of these benefits and more, for instance, instant Gold Status, and a two-hour quick verification, register through Baxity. Apart from this, you can also get ecoPayz vouchers.

Conclusion

From security, ease of use, advanced tools to multilingual support, and more, Skrill has covered all the key requirements of Forex traders, making it a reliable, convenient, and fraud-proof payment method. These features are further enhanced with its VIP status levels and Knect loyalty program.

Frequently Asked Questions

What Countries Can Use Skrill?

Skrill supports 100+ countries accross the world. Now Skrill is restricted in 114 countries. You can check if whether Skrill service is availble in your country in Non-serviced countries section on official website.

How to Pick a Decent Broker With Skrill?

To select a good and reliable Forex broker, make sure to check their data protection policies, fund safety measures, payment methods, product portfolio, spreads, minimum deposit, maximum leverage, and reviews.

Are There Any Skrill Bonuses?

No, Skrill Forex brokers do not provide bonuses related to using Skrill as a payment method.

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