Skilling Review crypto broker 2024

Our veredict

Skilling is a Scandinavian fintech company founded in 2016 that primarily offers trading in CFDs across various asset classes, including cryptocurrencies, forex, stocks, indices, and commodities. The platform is suitable for both beginner and experienced traders due to its user-friendly interface and comprehensive educational resources. However, Skilling is more focused on traditional financial instruments than cryptocurrencies, which might be a drawback for dedicated crypto investors. The platform supports over 55 cryptocurrencies and offers competitive spreads, but it has relatively high trading fees and limited cryptocurrency options compared to specialized crypto exchanges.

Skilling is recommended for traders who want to diversify their portfolio with various asset classes, including crypto as a minor component. It’s particularly useful for those who seek an integrated trading experience with both forex and crypto. However, due to its higher fees and limited crypto options, it might not be the best choice for those whose primary focus is on extensive cryptocurrency trading.

Pros

Wide Range of Assets: Skilling offers a broad selection of financial instruments, including over 55 cryptocurrencies, which allows traders to diversify their portfolios effectively.
Regulated by CySEC: As a broker regulated by the Cyprus Securities and Exchange Commission (CySEC), Skilling ensures compliance with stringent regulatory standards, enhancing the safety and reliability of the platform.
Free Demo Account: Skilling offers a free demo account that allows new traders to practice and familiarize themselves with the platform without risking real money.

Cons

Threenvest Score

Fees

3,9/5

Regulated

CySEC, FSA

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To better understand our editorial guidelines and the investment methodology that supports our ratings, you can explore the information in our editorial policy.

Why choose Skilling?

Choosing Skilling as your cryptocurrency exchange offers several advantages that make it a compelling option for traders. Firstly, Skilling is a well-regulated platform, overseen by the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (FSA). This regulatory oversight ensures that the platform adheres to stringent security and operational standards, providing traders with a safe and trustworthy environment. Additionally, Skilling employs robust security measures, including SSL encryption and negative balance protection, safeguarding user data and funds.

Secondly, Skilling’s platform is designed to be user-friendly and accessible, catering to both beginners and experienced traders. The platform offers a free demo account, allowing new users to practice trading without risking real money. This feature is complemented by a comprehensive trading academy that provides educational resources on various aspects of trading, from basic market concepts to advanced technical analysis. This makes Skilling an excellent choice for those who are new to cryptocurrency trading and looking to learn and grow in a supportive environment.

Lastly, Skilling supports a wide range of financial instruments, including over 55 cryptocurrencies, forex, stocks, indices, and commodities. This diversity allows traders to manage a versatile portfolio from a single platform. Skilling also offers competitive spreads and the ability to leverage trades up to 30x in Europe and up to 500x worldwide, providing ample opportunities for traders to maximize their profits. Although the trading fees are relatively high, the platform’s advanced features and regulatory assurances make it a reliable and attractive option for those looking to engage in both crypto and traditional asset trading.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert on cryptocurrency exchanges, I can confidently recommend Skilling for those looking to trade both cryptocurrencies and other financial instruments. Skilling’s user-friendly platform and extensive educational resources make it an excellent choice for beginners who want to learn the ropes without risking real money. The platform’s regulatory compliance with CySEC and FSA ensures a secure trading environment, providing peace of mind for all users. Additionally, Skilling’s competitive spreads and diverse asset offerings allow traders to manage a versatile portfolio, making it a robust choice for anyone interested in crypto trading.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.