There are many benefits of using Skrill as a payment method for deposit and withdrawal. Here is the complete guide of Skrill forex brokers that you can choose from.
Every broker has features and factors that need to be considered carefully. For safety, you should look for the broker's identity and legality. For the trading support, it is a matter of account specifications like spread, leverage, minimum trading size, as well as facilities like trading platform and analytical tools.
The whole broker features also include payment methods. All clients will consider the options cautiously, as a mistake in choosing a payment method will lead to delays, extra fees, and even losses.
The abovementioned problems usually come up when you use your debit card or credit card, or when you choose to transfer through bank wire for deposit or withdrawal. However, an e-payment system guarantees a quicker and cheaper transfer. Hence, you can deposit quickly and withdraw your profit free of charge (for most of the time).
One of the best e-payment systems is Skrill. It is recommended by many brokers and it is a good choice to be used as your best partner in trading.
What is Skrill?
Skrill is a popular digital payment system previously known as Moneybookers. Despite the rebranding, Skrill's policy and service remain the same. Even better, the new name brings this e-payment to become more popular for any financial transactions.
Skrill is also used by forex traders from many countries. Every trader, of course, needs a quick and safe transaction, especially if it deals with a big amount of money. Accommodating the need, Skrill is managed and operated by the best accounting specialists and financial leaders so it won't put you at high risks.
5 Benefits of Using Skrill
Highly recommended among its peers, Skrill is a secure and simple online payment system. It has been approved by many brokers and traders worldwide. The followings are the advantages of Skrill for forex traders:
- Very fast. The point of having a profit is you can withdraw it quickly and enjoy it. Using Skrill won't spend much time because every transaction is processed instantly. You cannot do that through a bank wire transfer that usually takes 3-5 business days.
- Transparent. All financial clients always need transparency from their payment partners. Don't worry, Skrill offers a transparent report that is published weekly or monthly. They report all of your transaction records. It is good for the advanced analysis of your funding activity as you will know your deposit and withdrawal history.
- Accepted by many brokers. The old clients of Moneybookers still use Skrill until now. So, it won't be difficult for you to find a decent broker that accepts deposit and withdrawal via Skrill. You can also choose Skrill forex brokers based on their reliability and credibility.
- Free service. Don't worry, no extra fees for you whether you make deposits or withdrawals. No matter the amount or the time you make the transactions, there won't be any fees charged.
- Special privileges. Many brokers have partnerships with Skrill and there are extra advantages that come with it. A broker can give special perks for clients who use the payment system. The rewards can be free credits, bonuses, or interesting trading features. All you need to do is making sure to use Skrill as your gateway to deposit and withdrawal transactions.
Skrill Forex Brokers
Skrill forex brokers are essentially brokers with standard features and tools for tradings. They also offer forex bonuses and other common things on trading platforms. What's different is the brokers support Skrill as a payment method among others.
If you choose a trusted broker with Skrill as its payment method, all of your financial transactions will be much more protected. First, the broker itself protects your account, and second, Skrill also protects your transaction. The good thing is you can deposit and withdraw your money through the Skrill payment system, so it will minimize your time and cost.
Skrill has been used by many brokers because of its excellent service. Below are some recommended brokers who accept Skrill as their payment method.
Trading by telephone
Islamic accounts available
It is a brokerage from Australia and is a brand of the First Prudential Markets Pty Ltd. FP Markets operates for more than 14 years and becomes quite well-known due to its excellent service, trade execution, and trading education. The benefits of trading with FP Markets are:
- It has modern trading platforms.
- It offers low spreads on forex currency pairs.
- It comes with more than 10,000 trading instruments.
- It comes in multi-languages and fast-response customer support.
- It is regulated by ASIC, one of the top FX regulations in the financial industry.
CNMV (Spain), 40
Islamic accounts available
With more than 15 years of experience, XTB (rebranded from X-Trade since 2009) is one of the largest brokers in the world. They have offices in more than 10 countries, including Belize, UK, Poland, Germany, Spain, and France. XTB Group is regulated by the world's biggest supervision authorities including the IFSC, FCA, KNF, and CySEC.
As a regulated company, XTB holds all retail clients' funds in a fully segregated account, meaning they are not mixed with the broker's operational funds. This enables traders who register in XTB to trade with confidence in their funds' safety.
XTB tries to provide an easy-trading anytime and anywhere. They have a mobile application, xStation to realize that vision. Traders can access financial markets from their fingertips and choose from over 1,500 CFD markets including 48 currency pairs, cryptocurrencies, 20 indices, commodities (gold, oil, silver, etc.), stock, and 60 ETFs from around the world. This application can be downloaded in Google Play and App Store.
Traders also can access their platform by PC. XTB offers a web trade platform with access to more advanced tools for more advanced traders. It's fully compatible with Chrome, Firefox, Safari, and Opera web browser. Traders are provided with fast and reliable trade execution speeds. No wonder this platform has successfully presented XYB with awards such as Best Trading Platform 2016 by Online Personal Wealth Awards. Additionally, MetaTrader 4 is also available when trading in XTB .
XTB charges fees for forex, indices, and commodities trading. The amount of fees differ based on the types of accounts. For example, in Pro Accounts, traders have to pay a commission from $3.5 per lot for forex and a commission from 0.08% per lot for stock CFDs and ETF CFDs.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. When trading, clients have to prepare strategies. Based on XTB's data, 75% of retail investor accounts lose money when trading CFDs. Because of that, clients should consider their level of understanding of CFD trading and their affordability to take high risk.
Traders can increase knowledge by joining XTB's Trading Academy program. There is a vast array of content that's geared towards helping traders, including video tutorials, trading courses, articles, and much more. Traders can choose a topic from different levels of education and enhance their skills across the stages of the trading journey.
Furthermore, there are several ways to deposit funds in XTB, including bank transfer, credit cards (Mastercard, Maestro, Visa), as well as e-Wallets (Skrill, Paysafe, Neteller, and many more). But, some of these methods may incur additional charges. For example, when using Neteller methods, traders have to pay 1% of their deposited amount.
Traders can contact XTB's customer support that is available 24/7. They are ready to answer all of the traders' questions and solve the problems, whether by email, phone, or live chat.
Overall, XTB is recommended as an ideal broker with top-tier regulation and trading platforms. Its education feature is also worth joining in as many traders are still in the process of perfecting their consistency and continue to learn the dynamic change in the forex market.
It is an online place for stocks and forex trading. There are more than 1500 global stocks you can trade in XTB and it comes with negative balance protection. The commission is as low as 0.08% with 5-time trading leverage. Here are the advantages and disadvantages of using XTB:
- It supports ETF and crypto-trading.
- It is FCA-regulated.
- It is a good place for all levels of traders.
- It provides in-depth market analysis.
- It doesn't support weekend trading even for cryptocurrencies.
- It has low maximum leverage (due to regulation restriction).
Pacific Financial Derivatives Ltd (PFD)
It is founded by a Japanese professional investor and operates in Auckland, New Zealand. It is a worldwide online broker that offers indices, forex, and commodities. The strengths and weaknesses are:
- It is experienced for more than 15 years.
- It is regulated under FMA in New Zealand.
- It charges a low fee for trading.
- It provides a forex demo account, but it only lasts for 15 days.
- No promotions, incentives, or bonuses for motivating its clients.
- The education kit is not enough for a newbie.
ASIC, ACN 123 289 109
Interest rate on funds
IC Markets is an online forex broker operating under the company of International Capital Markets Pty Ltd. Traders under the Australian jurisdiction are provided with the trading service of IC Markets AU that is headquartered in Australia and licensed by the Australian Securities and Investments Commission (ASIC).
On the other hand, non-Australian traders who open an account in this broker are registered under IC Markets SEY that is based in Seychelles, and regulated under the Seychelles Financial Services Authority (SFSA). The dual operation is a result of the relatively new rules from ASIC that prohibit their regulated broker to offer trading services outside Australia.
Classified as an ECN broker, IC Markets provide clients with MetaTrader 4, MetaTrader 5, cTrader as platform trading options. This broker also follows market trends to include Cryptocurrencies as one of its products, enriching its already wide selection of trading assets that include Currencies, Indices, Metals, Energies, Softs, Stocks, as well as Bonds.
The minimum deposit in IC Markets is in the middle range compared to other ASIC-regulated brokers, as it reaches $200 for every client. Market analysis materials are also prepared regularly for trading insights on IC Markets's official website, proving their competence to serve their traders with important contents created by market experts that work specifically for them.
For payment methods, IC Markets allows funding and withdrawal via wire transfer, credit card, PayPal, Skrill, Neteller, FasaPay, UnionPay, as well as Bitcoin via BitPay. The more interesting aspect from this broker is its multi-base currencies that include USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD.
As the trading technology in IC Markets is highly equipped with co-located servers and extremely low latency (especially on cTrader), the broker is widely known for its capability in hosting traders with the special needs for high-frequency trading as well as scalping.
To sum up, IC Markets is a fitting destination for active traders looking for a well-regulated broker. IC Markets is also flexible in terms of base currency and payment methods, signaling their commitment to welcome traders beyond their home country. As of late 2019, IC Markets provided their website in 18 international languages including English, Korean, Indonesian, French, Spanish, Italian, Malay, German, and Chinese.
IC Markets is a brokerage in Australia that was established in 2007. It is regulated under the Australian Securities and Investments Commission (ASIC), the Seychelles Financial Services Authority (FSA), and the Cyprus Securities and Exchange Commission (CySEC).
Its trading accounts vary from Raw Spread (cTrader or MetaTrader) and Standard (MetaTrader). The spreads begin from zero pips on the Raw Spread account. The standard account usually is free from commissions with spreads starting from 1 pip. IC Markets also provides new traders with a demo account and the choice to apply for swap-free benefits.
The broker's design and features are suitable for newbie and professional traders, scalpers, and high-volume traders because it relies on the New York Equinix NY4 data center which processes more than 500,000 trades every day. Besides, it supports additional trading features such as social trading platforms from Myfxbook and ZuluTrade. The IC Markets benefits are:
- No commission (in Standard account).
- The raw spread accounts are provided on the institutional grade liquidity.
- The educational material and videos are well-presented.
- MetaTrader and cTrader are compatible with the web, mobile, and desktop interfaces.
- For consultation and support, customer service is available 24/7.
Variable and Fixed
Trading by telephone
Islamic accounts available
FXTM was initially launched in 2011 with a unique vision to provide unparalleled superior trading conditions. Opening an account in FXTM would also bring about access to advanced education and sophisticated trading tools in the forex industry.
Now, FXTM is registered under the Financial Conduct Authority of the UK with the number 600475. The company is also regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, and is licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614
FXTM has 1 million registered accounts with more traders joining every day. The company continually tries to improve their performance and have got many awards such as Best Trading Experience 2019 by World Finance Awards, Best Online Forex Trading Company Nigeria 2018 by International Finance Awards, Reputable Investor Education Forex Broker Award 2018 by Hexun.com, Forex Brand Of The Year China 2018 by Fxeye.Com, and many more.
As a responsible broker, they determine leverage (expressed as a ratio of transaction size relative to trader's buying power) according to the trader's level of knowledge and experience in trading, which is evaluated by the Appropriateness Assessment. The company also enables trading with leverage up to 1:1000.
As for spreads, FXTM offers low spreads starting from 0.1 pip, so traders can withdraw profits at the start of trading. The company, which has headquarters in several countries, uses No Dealing Desk (NDD) technology and partners with credible liquidity providers to provide the best bid and ask prices.
For beginners, there is an automatic trading facility called algorithmic trading provided. When trading in FXTM, traders can develop their trading strategy or adopt other traders' strategies. Furthermore, the strategy is applied to automated trading systems, such as Expert Advisors. The purpose of this system is traders do not have to worry about losing opportunities while not observing the market so that profits can still be earned.
Three types of ECN accounts use the MT4 and MT5 trading platforms. There are also mobile and Tablet Apps trading platforms. Aside of providing many account variants, FXTM goes above and beyond to ensure that their client receives excellent support that they deserve, making their trading experience optimal and user-friendly.
FXTM also provides a diverse range of products. In addition to over 50 currency pairs, they provide gold, silver, CFD on commodity futures (oil), CFD on ETFs, and indices.
Education about the basic concepts of the forex industry is also accessible in this broker. Traders can read all the concepts provided in the form of e-books, video tutorials, articles, webinars, and forex seminars. There are 17 languages provided on the FXTM website to make it easier for traders to learn about forex.
Traders are also given various choices for payment methods, including Credit Cards (Visa, Mastercard, Maestro) and E-Wallet (Neteller, Skrill, Western Union). For withdrawing funds, traders are not charged a fee with a length of 2 hours to 2 days. Traders can live chat to ask further questions and contact the admin via email. There is also a question and answer page about forex trading on FXTM.
FXTM stands for ForexTime. It does mean a platform for forex trading, so the features and tools are focused to support forex traders. The features include more than 50 currency pairs (minor, major, and exotic pairs), and the leverage is up to 1:1000.
FXTM is regulated by Cyprus Securities and Exchange Commission, International Financial Services Commission (IFSC), and other regulators from the EU and outside the EU. However, FXTM still has strengths and weaknesses:
- It offers competitive spreads for trading.
- It offers more than 250 products for trading globally (shares, indices, forex, commodities, and cryptocurrency CFDs).
- It supports MetaTrader 4 and 5 platforms.
- It does not support the Mac desktop.
- It has a low maximum order size.
Plus500 is a UK-based company with its main offices located in the city of London. The company is authorized and regulated by FCA. For traders who are looking for a broker with top-tier regulators, Plus500 can be the right choice .
Plus500 offers 2,000 instruments to over a million clients. List of instruments available for trading with their CFD service include forex currency pairs, indices, cryptocurrencies, commodities, shares, and ETFs. Traders can choose instruments suitable for their needs.
Regardless, beginners should be extremely cautious while choosing their assets, as it can get daunting, confusing, and inherently risky.
When traders open an account, Plus500 will hold traders' funds on a segregated basis, following FCA's client money rules. Traders do not need to worry about Plus500 using their funds for hedging, as it is strictly prohibited to use clients' funds for this purpose.
Other advantages when trading in Plus500 are tight spreads and no commissions. The company only offers a single type of account, but traders can update the account from Retail to Professional by following some standards.
To apply Professional Accounts, traders have to fulfill at least 2 of the following 3 criteria eligible, such as sufficient trading activity in the last 12 months, financial instrument portfolio of over 500,000 Euro, and relevant experience in the financial services sector.
Plus500 is well-regarded for its services through the market spread, leverage up to of 1:30 for Retail Accounts, and leverage up to of 1:300 for Professional Accounts. Plus500 tries to give a sensible choice of leverage, which not only controls the risk but also helps novice traders to exercise more control over their trading emotions.
Founded in 2008, Plus500 provides almost the same features to both Retail and Professional account, including clients' money protection, negative balance protection, best execution for orders, clear and transparent information, as well as financial services compensation scheme. Still, Professional account is more advanced as it has access to FOS.
Based on the statistics, 76.4% of Retail account owners in Plus500 lose money when trading CFDs. Because of that, Plus500 always warns traders to consider their understanding of how CFDs work and their affordability to take high risk of losing money, before starting a trade in Live Account.
Even so, Plus500 has gained the trust of traders throughout the world. They have around 39 million positions opened, 304,000 active customers, and billions of volume trading processed by their system.
Plus500 always tries to give the best services to their clients. One of the ways to reach their goals is by making clients feel confident in their trading activity. They have a simple and easy-to-use trading platform, with an especially well-designed mobile platform. Traders can access the Plus500 platform via web-trader, iPhone/iPad, and Mobile App.
In their platform, traders will get advanced tools such as stop limit, guaranteed stop, free email and push notifications on market events, and alerts on price movements. All of these tools can help traders to navigate the market with better understanding.
As for payment methods, Plus500 provides various choices like Visa or MasterCard, electronic wallets (PayPal and Skrill), and bank transfer (direct bank to bank funds transfer).
For any concerns, troubles, or trading issues, traders can contact Plus500's customer service that is available 24 hours a day and 7 days a week. The official website of Plus500 can be accessed in 24 languages.
Overall, Plus500 has some advantages and disadvantages. As it has a license from an elite regulator, traders can feel safe when trading in Plus500. It also provides a 24/7 support team to help traders. But, offering leverages up to 1:300 is not suitable for high-risk traders, such as scalpers, who indulge in high-frequency trading that holds positions in the market for a brief period and typically use high leverage.
The name of this broker is famous due to its sponsorship of some popular football clubs. It is also listed on the London Stock Exchange. With this broker, you can trade commodities, shares, forex, ETF, indices, and options worldwide with a proprietary platform.
- It has tight spreads with no commissions at all.
- The leveraged trading opens for more than 2,500 financial instruments.
- It comes with sophisticated risk management tools such as trailing stop orders or guaranteed stops.
- No educational materials.
- Poor customer support.
- Very few analytical contents.
The most important thing in trading is choosing a very efficient and free-of-charge payment method for your trading activities. Skrill comes with those advantages but they will become futile if your chosen broker is not reliable. To improve your research on Skrill forex brokers, consider this side by side comparison as a helpful tool:
|Feature||FP Markets||IC Markets||FXTM|
rated by 1 users
rated by 16 users
rated by 677 users
|Office(s)||Australia||Australia, Hong Kong and Viet Nam||Belize, Cyprus, Mauritius, South Africa and United Kingdom|
|Regulation|| ASIC 286354 |
|ASIC, ACN 123 289 109 |
Securities Commission of The Bahamas, SIA-F214
|CySEC, 185/12 |
FCA (UK) 777911
FSC (Mauritius), C113012295
FSCA (South Africa), 46614
|Minimum Position||0.01 lot||0.01 lot||0.01 lot|
|Payment||Bitcoin, Credit/debit cards, Dragonpay, Ethereum, FasaPay, Local bank transfer, Neteller, Ripple, Skrill, Tether (USDT) and Wire transfer||Bitcoin, BPAY, Credit/debit cards, FasaPay, Neteller, PayPal, Skrill, UnionPay and Wire transfer||Bitcoin, Credit/debit cards, DIXIPAY, FasaPay, Neteller, Perfect Money, QIWI, Skrill, UnionPay, WebMoney, Wire transfer and Yandex.Money|
|Official Website||Visit FP Markets||Visit IC Markets||Visit FXTM|
|Forex Demo Account|
|US traders are welcome|
|Requires sending documents via postal mail|
|Overnight interest rates (swaps)|
|Trading by telephone|
|Interest rate on funds|
Trading Platforms and Complements
|Trading via API|
|One-Cancels-Other (OCO) orders|
|Gold & silver|
|Website Languages||Chinese, English, French, Indonesian, Italian, Malay, Portuguese, Russian, Spanish, Vietnamese||Chinese, English, Japanese, Russian||Arabic, Chinese, Czech, English, French, Hindi, Indonesian, Italian, Korean, Malay, Persian, Polish, Russian, Spanish, Thai, Turkish, Urdu, Vietnamese|
|General Review||Read FP Markets Review||Read IC Markets Review||Read FXTM Review|
|User Reviews||-|| |
Andy KOct 21 2021
Fast withdrawal! I submitted a withdrawal request a while ago and already received the funds in my account (I use PayPal).
Liam AddingtonJul 24 2020
It's been a month using ICMarket demo, and I compared it with other brokers, relatively smaller commissions and spreads. hopefully it's the same as with the Real Account ... thank U ICMarket, keep Good Service ...
WAHYUDIJul 27 2020
I registered with fxtm with the name wahyudi
then fxtm agreed to verify my KTP with the name wahyudi
then I deposited with perfectmoney with the name wahyudi
then I traded, and I after there was a slight profit
I want to withdraw
BUT!!! when I want to withdraw, fxtm refuses to verify my perfectmoney named wahyudi, they deliberately refuse to verify my perfectmoney, so my money can't be withdrawn, fxtm refuses with a variety of unreasonable reasons.
be careful trading with fxtm, this broker is Fraud! Fxtm never intends to pay.
DianneJul 27 2020
|Open Real Account||Open FP Markets Real Account||Open IC Markets Real Account||Open FXTM Real Account|
The table above is only an example of a comparison between the three brokers that are mentioned above. To compare the other brokers, you can utilize our broker comparison tool .