Skrill is a popular money transfer service. It can be used to deposit and withdraw funds with some of the best brokers on the market. In this review, we discuss the services Skrill offers and the fees charged. We’ll also touch on the pros and cons of the money transfer solution, including how safe the service is and the speed of withdrawals. Additionally, we list the best Skrill brokers in the UK.
Skrill Brokers
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Our picks at a glance
- 1 Pepperstone Top score: Platforms 4.8 Info Visit Pepperstone
- 2 XTB Top score: Trust 4.8 Info Visit XTB
- 3 Trade Nation Top score: Support 4.4 Info Visit Trade Nation
- 4 Eightcap Top score: Mobile 4.6 Info Visit Eightcap
- 5 eToro Top score: Trust 4.0 Info Visit eToro
- 6 Vantage FX Top score: Trust 4.7 Info Visit Vantage FX
- 7 Plus500 Top score: Trust 4.1 Info Visit Plus500
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Our top pick
Founded in Australia in 2010, Pepperstone is a leading forex and CFD broker serving over 830,000 clients globally. It provides access to 1,400+ instruments through MT4, MT5, cTrader and TradingView, with low, transparent pricing. Regulated by the FCA, ASIC and CySEC, Pepperstone offers a secure trading environment for all experience levels.
- Instruments
- CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto CFDs (only Pro clients), Spread Betting
- Regulator
- FCA, ASIC, CySEC, BaFin, DFSA, SCA, SCB, CMA-Kenya
- Platforms
- Pepperstone Trading Platform, MT4, MT5, cTrader, TradingView
- Min. Deposit
- $0
- Min. Trade
- 0.01 Lots
- Leverage
- 1:30 (Retail - UK, EU, Australia), 1:500 (Pro), 1:200 (Offshore), 1:400 (Kenya)
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. 73-89% of retail investor accounts lose money when trading CFDs.
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Established in Poland in 2002, XTB caters to over a million clients worldwide. This forex and CFD broker offers a robust regulatory framework, a diverse range of assets, and prioritises trader satisfaction. It provides an intuitive proprietary platform equipped with excellent tools to support aspiring traders.
- Instruments
- CFDs on shares, Indices, ETFs, Raw Materials, Forex currencies, cryptocurrencies, Real shares, Real ETFs
- Regulator
- FCA, CySEC, KNF, DFSA, FSC, SCA, CMF, Bappebti
- Platforms
- xStation
- Min. Deposit
- $0
- Min. Trade
- 0.01 Lots
- Leverage
- 1:30
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money
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Trade Nation is a leading FX and CFD broker regulated in the UK and Australia, among other places. The company provides competitively priced fixed and variable spreads on over 1,000 assets. Traders benefit from advanced platforms and comprehensive training materials. Additionally, the Signal Centre offers valuable trade ideas.
- Instruments
- CFDs, Forex, Indices, Shares, Commodities, Futures, Bonds, Spread Betting (UK and Ireland only), Cryptos (Bahamas entity only)
- Regulator
- FCA, ASIC, CMVM , FSCA, SCB, FSA
- Platforms
- TN Trader, MT4, TradingView
- Min. Deposit
- $0
- Min. Trade
- 0.1 Lots
- Leverage
- 1:30
67.3% of retail investor accounts lose money when trading CFDs with this provider.
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Eightcap, an acclaimed broker regulated by the FCA, offers exceptionally low trading costs. Recognised as the top-rated brand by TradingView's vast user base of 100 million, traders can directly access the platform. UK traders can open a live account with a minimum deposit of just £100.
- Instruments
- CFDs in Forex, Stocks, Indices, Commodities
- Regulator
- FCA, ASIC, CySEC, FSC, SCB, FSA
- Platforms
- MT4, MT5, TradingView, TradeLocker
- Min. Deposit
- £100
- Min. Trade
- 0.01 Lots
- Leverage
- 1:30
Services are provided subject to applicable laws and regulations. Certain products, services, instruments, platforms or payment methods may not be available to residents of certain jurisdictions.
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eToro is a top-rated multi-asset platform which offers trading services in thousands of CFDs, stocks and cryptoassets. Launched in 2007, the brand has millions of active traders globally and is authorized by tier one regulators, including the FCA and CySEC. The brand is particularly popular for its comprehensive social trading platform. Crypto investments are risky and may not suit retail investors. You could lose your entire investment. Understand the risks here. 55% of retail CFD accounts lose money.
- Instruments
- CFDs, Forex, Stocks, Indices, ETFs, Smart Portfolios, Commodities, Futures, Crypto, NFTs
- Regulator
- FCA, CySEC, MiCA, MFSA, FSRA, ASIC, FSAS, MAS, GFSC
- Platforms
- eToro Web, CopyTrader, TradingCentral
- Min. Deposit
- $50
- Min. Trade
- $10
- Leverage
- 1:30
55% of retail investor accounts lose money when trading with this provider. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
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Founded in 2009, Vantage provides access to over 1,000 short-term CFD products for millions of clients. Trade Forex CFDs from 0.0 pips via RAW accounts on TradingView, MT4 or MT5. ASIC-regulated, Vantage segregates client funds and offers social trading tools for copy traders.
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Spread betting
- Regulator
- FCA, ASIC, FSCA, VFSC, CIMA
- Platforms
- ProTrader, MT4, MT5, TradingView, TradingCentral, DupliTrade
- Min. Deposit
- $50
- Min. Trade
- 0.01 Lots
- Leverage
- 1:30
72.65% of accounts lose money when trading CFDs with this provider.
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Founded in 2008 and based in Israel, Plus500 is a leading brokerage with over 25 million registered traders across more than 50 countries. It focuses on CFD trading, offering a user-friendly proprietary platform and mobile app. The company provides competitive spreads and does not impose commissions or charges for deposits or withdrawals. Plus500 stands out as a highly trusted broker, licensed by respected authorities such as the FCA, ASIC, and CySEC.
- Instruments
- CFDs on Forex, Stocks, Indices, Commodities, ETFs, Options
- Regulator
- FCA, CySEC, EFSA, ASIC, FMA, FSCA, MAS, ISA, FSA, DFSA, SCA, JFSA, SCB, CIRO, BAPPEBTI, OJK, BI
- Platforms
- WebTrader, App
- Min. Deposit
- $100
- Min. Trade
- Variable
- Leverage
81% of retail CFD accounts lose money.
Compare
Safety Comparison
Compare how safe the Best Skrill Brokers 2026 are and what features they offer to protect traders.
| Broker | Trust Rating | FCA Regulated | Negative Balance Protection | Guaranteed Stop Loss | Segregated Accounts |
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4.6 | ||||
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4.6 | ||||
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4.3 | ||||
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4.3 | ||||
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4.3 | ||||
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4.6 | ||||
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4.4 |
Payments Comparison
Compare which popular payment methods the Best Skrill Brokers 2026 support and whether they have trading accounts denominated in British Pounds (GBP).
| Broker | GBP Account | Debit Card | Credit Card | Neteller | Skrill | Apple Pay |
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Mobile Trading Comparison
How good are the Best Skrill Brokers 2026 at mobile trading using apps or other mobile interfaces.
| Broker | Mobile Apps | iOS Rating | Android Rating | Smart Watch App |
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iOS & Android | 4.4 | 4.1 | |
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iOS & Android | 4.7 | 4.1 | |
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iOS & Android | 4.5 | 4.5 | |
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iOS & Android | 4.8 | 4.4 | |
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iOS & Android | 4.0 | 3.8 | |
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iOS & Android | 3.6 | 3.9 | |
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iOS, Android & Windows | 4.1 | 4.3 |
Beginners Comparison
Are the Best Skrill Brokers 2026 good for beginner traders, that might want an affordable setup to get started, along with good support and educational resources?
| Broker | Demo Account | Minimum Deposit | Minimum Trade | Support Rating | Education Rating |
|---|---|---|---|---|---|
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$0 | 0.01 Lots | 4.6 | 4.0 | |
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$0 | 0.01 Lots | 4.3 | 3.8 | |
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$0 | 0.1 Lots | 4.9 | 4.2 | |
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£100 | 0.01 Lots | 4.0 | 3.5 | |
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$50 | $10 | 2.5 | 4.0 | |
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$50 | 0.01 Lots | 4.4 | 4.0 | |
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$100 | Variable | 4.0 | 3.0 |
Advanced Trading Comparison
Do the Best Skrill Brokers 2026 offer features that allow for more advanced trading strategies?
| Broker | Automated Trading | Pro Account | Leverage | VPS | AI | Low Latency | Extended Hours |
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Expert Advisors (EAs) on MetaTrader, cBots on cTrader | 1:30 (Retail - UK, EU, Australia), 1:500 (Pro), 1:200 (Offshore), 1:400 (Kenya) | |||||
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Expert Advisors (EAs) on MetaTrader | 1:30 | |||||
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TradingView Bots | 1:30 | |||||
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Automate your trades via CopyTrader - follow profitable traders. Open and close trades automatically when they do. | 1:30 | |||||
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Myfxbook AutoTrade, Expert Advisors (EAs) on MetaTrader | 1:30 | |||||
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Detailed Rating Comparison
Use this heatmap to compare our detailed ratings for all of the Best Skrill Brokers 2026.
| Broker | Trust | Platforms | Mobile | Assets | Fees | Accounts | Support | Research | Education |
|---|---|---|---|---|---|---|---|---|---|
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4.6 | 4.8 | 4.3 | 4.6 | 4.5 | 4.0 | 4.6 | 4.3 | 4.0 |
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4.6 | 4.0 | 4.4 | 4.6 | 3.9 | 4.0 | 4.3 | 4.1 | 3.8 |
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4.3 | 3.9 | 4.5 | 3.7 | 4.3 | 4.2 | 4.9 | 3.9 | 4.2 |
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4.3 | 4.3 | 4.6 | 3.6 | 3.8 | 4.0 | 4.0 | 3.5 | 3.5 |
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4.3 | 2.8 | 3.9 | 3.8 | 3.4 | 4.1 | 2.5 | 4.3 | 4.0 |
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4.6 | 4.3 | 3.8 | 4.5 | 4.4 | 4.5 | 4.4 | 4.0 | 4.0 |
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4.4 | 3.3 | 4.2 | 3.5 | 4.0 | 4.1 | 4.0 | 2.0 | 3.0 |
Our Take On Pepperstone
Pepperstone excels in trading with tight spreads, swift execution, and advanced charting for seasoned traders. Beginners enjoy zero minimum deposit, comprehensive educational materials, and outstanding 24/5 support, including 18-hour weekend assistance.
Tobias Robinson Reviewer
Pros
- Support for top-tier charting platforms such as MT4, MT5, TradingView, and cTrader. These tools accommodate different short-term trading methods, including algorithmic trading.
- Pepperstone offers pre-IPO perpetual futures, adding Anthropic in October 2026, enabling 24/7 speculation on expected share prices through cash-settled CFDs.
- In recent years, Pepperstone has significantly enhanced the deposit and withdrawal process. By 2025, clients can use Apple Pay and Google Pay, while 2024 saw the introduction of PIX and SPEI for customers in Brazil and Mexico.
Cons
- Overnight holding fees exceed those of some Market Maker brokers (typically Benchmark + 2.5%). Pepperstone suits traders and forex scalpers well but is less ideal for swing traders who keep positions open overnight.
- Execution might not appear as dependable in rapid markets as headline speeds imply. Our tests showed swift execution at targeted prices. However, community feedback highlights concerns over slippage, stop-loss fills, and order triggers sensitive to spreads amid volatility.
- Although the market range has expanded, crypto CFD options remain somewhat restricted, especially when compared to specialised brokers like Eightcap. Additionally, there is no facility to invest in actual cryptocurrencies.
73-89% of retail investor accounts lose money when trading CFDs with this provider.
Our Take On XTB
XTB excels for novice traders with its superb xStation platform, minimal trading costs, no required deposit, and outstanding educational resources, many of which are fully integrated into the platform.
William Berg Reviewer
Pros
- In 2026, XTB expanded its asset offerings and markets. It introduced options trading in Spain and Germany, launched spot cryptocurrencies in select regions, and unveiled Investment Plans 2.0. These enhanced plans now feature more pre-built options, including sectors like Defence, a user-friendly interface, and increased flexibility to mix stocks and ETFs within individual plans.
- The xStation platform stands out with its user-friendly design and intuitive tools, such as adaptable news feeds, sentiment heatmaps, and a trader calculator. These features streamline the learning process for new traders.
- XTB offers a superb array of educational resources, such as training videos and articles, embedded within the platform to assist traders of all experience levels.
Cons
- XTB lacks a raw spread account, a feature increasingly offered by competitors such as Pepperstone. This omission might not satisfy traders seeking the most competitive spreads.
- The demo account lasts only four weeks, posing a challenge for traders wanting to fully explore the xStation platform and refine short-term strategies before investing actual money.
- XTB has stopped supporting MT4, restricting traders to its own platform, xStation. This decision may discourage experienced traders accustomed to using the MetaTrader suite.
74% of accounts lose money when trading CFDs with this provider.
Our Take On Trade Nation
Trade Nation caters to discretionary traders aiming to speculate on major indices like the US 500 or liquid FX pairs, with the certainty of fixed spreads. Our tests revealed the TN Trader's fixed spreads to be advantageous, especially during economic announcements, thanks to its dependable charting and capped spreads.
Tobias Robinson Reviewer
Pros
- Trade Nation's 2026 alliance with Volt has streamlined payments for Australian traders, enabling instant deposits and withdrawals via PayID. Faster payout features are also anticipated for UK and EU clients.
- The broker expanded into Europe after receiving CMVM approval in Portugal, enhancing protections for European clients.
- During tests of the TN Trader account in standard market conditions, fixed spreads remained stable. Major forex pairs experienced prompt order fills, albeit with slight entry level drift as prices fluctuated between click and execution.
Cons
- Offshore SCB and FSA firms offer retail investors leverage up to 1:200 and 1:500. In contrast, regions like the UK, Europe, and Australia cap leverage at 1:30. Thus, an FSA client can access 16 times more exposure than a UK retail client on identical trades. However, this comes with reduced oversight and no compensation schemes.
- The FCA, CMVM, and ASIC clients are ineligible for the 2–20% rebate scheme. Consequently, active traders in these areas cannot receive transaction rebates.
- There is no raw or ECN pricing tier, often favoured by traders. Regardless of your deposit or trading volume, you receive the same fixed (or variable on MT4) pricing as novices, rendering it particularly unsuitable for scalpers.
67.3% of retail investor accounts lose money when trading CFDs with this provider.
Our Take On Eightcap
Eightcap excels for traders, offering diverse charting platforms, educational Labs, and AI tools. With over 120 crypto CFDs, it stands out in crypto trading and has won our 'Best Crypto Broker' award twice consecutively.
William Berg Reviewer
Pros
- Eightcap has excelled in all essential trading areas, surpassing all rivals to clinch our 'Best Overall Broker' award for 2024. It also earned the titles of 'Best Crypto Broker' and 'Best TradingView Broker' for 2025.
- In 2026, Eightcap integrated TradeLocker in select areas, establishing itself as the premier regulated broker for this platform. It continues to offer ultra-fast execution and competitive fees for active traders using the charting software.
- Eightcap has launched GOLD247, offering 24/7 gold/USD CFD trading with up to 1:20 leverage, 0.01-lot minimums and zero commission for weekend gold traders.
Cons
- Despite the growing range of tools available, Eightcap lacks popular industry resources such as Autochartist and Trading Central. These provide advanced charting analytics, live news, and essential market insights for traders focused on short-term strategies.
- Eightcap must enhance its range of over 800 instruments to rival top competitors like Blackbull Markets, which offers 26,000+ assets, especially improving its limited commodities selection.
- The demo account is available for 30 days, after which it requires a request for extension. This is less convenient than XM's offering, which provides an unlimited demo mode.
71.28% of retail traders lose money when trading CFDs
Our Take On eToro
eToro's social trading platform excels with its outstanding user experience and lively community chat, aiding beginners in spotting opportunities. It offers competitive fees on numerous CFDs and real stocks, alongside exceptional rewards for seasoned strategists.
Tobias Robinson Reviewer
Pros
- In July 2026, eToro Edge introduced significant enhancements, including a charting package tailored for active traders and AI trading via Tori.
- The trading app provides a top-tier social environment featuring an engaging feed and community chat, which we enjoy using.
- The entry requirements for eToro Club have been reduced. For $4.99 monthly, members enjoy 18 benefits, including a debit card that converts purchases into stocks with a 4% share return.
Cons
- The absence of extra charting platforms such as MT4 may deter experienced traders who rely on external software.
- There are no assured stop-loss orders, which could be a valuable risk management tool for novice traders.
- The minimum withdrawal is set at $30, accompanied by a $5 fee. This may impact traders with limited funds, particularly those just starting out.
55% of retail CFD accounts lose money. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Our Take On Vantage FX
Vantage is an ideal choice for CFD traders looking for a well-regulated broker with access to the dependable MetaTrader platforms. With a swift sign-up process and a minimum deposit of $50, starting trading is simple and fast.
Tobias Robinson Reviewer
Pros
- Vantage upholds a high trust score through its solid reputation, backed by premier regulation from the FCA and ASIC.
- In 2026, the app was enhanced to provide comprehensive asset visibility, consolidating balances from Contract, Copy, and Funding accounts onto a single screen.
- Vantage has enhanced its trading tools for experienced traders, introducing AutoFibo EA to pinpoint potential market reversals.
Cons
- It's unfortunate that some clients must register with the offshore firm, which provides reduced regulatory safeguards.
- To access optimal trading conditions, a substantial deposit of $10,000 is required. This includes a commission of $1.50 per transaction per side.
- Based on tests, average execution speeds of 100ms to 250ms are slower compared to other options.
72.65% of accounts lose money when trading CFDs with this provider.
Our Take On Plus500
Plus500 provides a seamless experience for traders with its CFD platform, featuring a sleek design and interactive charting. However, its research tools are basic, fees are higher than the most economical brokers, and its educational resources could be improved.
Tobias Robinson Reviewer
Pros
- Plus500 offers a dedicated WebTrader platform tailored specifically for CFD trading. It features a user-friendly and streamlined interface.
- In 2025, Plus500 introduced new share CFDs in emerging sectors such as quantum computing and AI, presenting opportunities in stocks like IonQ, Rigetti, Duolingo, and Carvana.
- The broker provides low-commission trading across varied markets, reducing extra fees and attracting seasoned traders.
Cons
- Plus500's omission of MetaTrader and cTrader charting tools may deter seasoned traders seeking familiar platforms.
- Educational resources are not as extensive as leading brokers such as eToro, which affects beginners' ability to learn quickly.
- The lack of social trading features prevents users from copying trades made by seasoned traders.
81% of retail CFD accounts lose money.
What Is Skrill?
Skrill is an online international money transfer service. It is available in 120 countries, including the UK, enabling users to move money across the world and store funds in a digital wallet. Account holders can deposit into Skrill using numerous payment methods, such as debit/credit card or instant bank transfer, and send money to friends and family using just an email address. The recipient can spend the funds anywhere online where Skrill is accepted, or withdraw to their own bank account.
Skrill was founded in the UK in 2001 and was originally named MoneyBookers. In 2015, PaySafe (the parent company of Neteller and a competitor of Skrill) purchased the firm for €1.1 billion. In 2018, it launched its cryptocurrency function, which enabled users to buy, sell and store coins such as Bitcoin, Ethereum and Litecoin. This move gave Skrill an edge over competitors such as PayPal, driving its popularity today.
Nowadays, Skrill has a net worth in the billions of dollars. It offers a number of services, including a pre-paid Mastercards, virtual gift cards, VIP loyalty programmes and accounts for businesses.
Fees
Skrill is widely regarded as one of the cheapest money transfers services on the market. However, whilst the transfer rate is low, making it appear cheap on comparison sites, Skrill makes its revenue through charging fees in other areas. These are listed below.
Broker Fees
Deposits at the most popular brokers, such as eToro and Plus500, are free of charge. Most withdrawals are also free. However, Fondex does charge a 1.5% fee for withdrawal to a Skrill account. Therefore, you should check your individual broker’s payment gateway page to find out whether you’ll be charged.
Deposit & Withdrawal Fees To Skrill Accounts From A Bank Account
Unfortunately, deposits to your Skrill account are charged. This is usually 1% of the amount, depending on the deposit method. Withdrawals from your Skrill account to your bank account are also charged at £4.74 per transaction. You can avoid these fees by using Skrill to purchase goods and services using your Skrill wallet, rather than transferring the money out of your account.
Currency Conversion Fees
Transactions that involve currency conversions will incur a fee. Skrill charges 3.99% on top of the wholesale exchange rate and will do so without notification to you as a user. For example, if you’re holding GBP in your Skrill account today and want to open a forex trading account with USD as the base currency, you’ll be charged.
Crypto Fees
If you’re purchasing cryptocurrency from a Skrill account that uses anything other than Euros, you’ll be charged a 1.5% currency exchange fee.
Skrill does not charge fees for the following transactions:
- Sending money to an international bank account using Skrill Money Transfer
- Paying a merchant directly from your Skrill wallet
- Receiving money to a Skrill account
Speed
Getting started on Skrill is fast. Using the Skrill Rapid Transfer function, you can load your account and start spending in an instant.
When making a broker deposit, Skrill payments will leave your account almost immediately. However, it depends on how fast your broker can process the transaction. Some brokers, such as eToro, note that withdrawals to e-wallets, can take up to 7 days. In general, most will take only 24-48 hours to process.
Skrill has no defined opening hours, so you can make a transfer, load your account, and spend with merchants 24 hours a day.
Security
Skrill is a safe and reputable business. It is regulated by the Financial Conduct Authority (FCA) in the UK and therefore offers a satisfactory level of customer security. It uses a number of safety features to keep your account secure. This includes a 2-factor authentication code to prevent hackers from accessing your account. Plus, transactions using your Skrill Prepaid Mastercard can be authenticated using their 3D Secure system. This involves receiving a one-time passcode via text which you can use to confirm your payment.
Complaints about Skrill in the past have usually centred around its identity verification process. However, ‘know your customer’ (KYC) checks are a requirement of legitimate financial services.
Like any money transfer service, there are fraudsters out there that target customers. These scams are unrelated to Skrill and its safety measures, but customers should be wary. Never reveal your password and be aware of phishing emails that request you to make a transaction.
Support
If you need support from Skrill, start by clicking the ‘Help’ button on the website’s homepage. This will take you to the FAQ page. You can browse popular topics or type your question into the search bar. There are hundreds of common queries answered here, including what to do if you have login problems, need a refund, or if your account is restricted or just not working. If the issue persists, use the live chat function or call their contact phone number for help. The UK helpline is open Monday – Friday 8 am – 5 pm.
How To Make Skrill Deposits & Withdrawals
It’s easy to join Skrill and begin making deposits with your broker. You’ll first need to sign up to an account using your email address. Once you’ve created your Skrill account, you can then make a bank transfer or directly link a Visa or debit Mastercard to deposit funds.
Sign in to your trading broker account and click deposit funds. Sometimes you’ll have to visit the trading area to find this. With most brokers, you’ll need to withdraw through the same method you deposit. To receive money to your Skrill account, you’ll just need to enter your email address.
Note that Skrill has a minimum and maximum withdrawal limit on transfers from your account to your Visa/Mastercard. The lowest amount you can withdraw in one transaction is 10 USD and the most is 10,000 USD.
Pros Of Using Skrill For Traders
Skrill is known to have slightly reduced fees vs money transfer alternatives such as PayPal, Wise (previously Transferwise) or Neteller. But it does have some additional benefits that we’ve listed below:
- Fiat to crypto withdrawal – Skrill recently announced that they will now be accepting instant withdrawal to their cryptocurrency e-wallet. The new feature allows traders to convert and store trade profits in either Bitcoin (BTC) or Ethereum (ETH), as opposed to a fiat base currency. It is currently only live in the European Economic Area but will launch in the UK soon.
- VIP – If you’re a professional crypto investor, you can access the Skrill VIP club. Membership gives you access to lower fees and higher limits, 24/7 account support and access to tickets for invite-only basketball, football and cricket games. To meet the threshold, you’ll need to transact the equivalent of €15,000 or more during a quarter.
- Promo codes – Skrill has been known to run a UK referral programme that earns you £10 in Skrill account credit per person you sign up. When you join, you’ll receive a referral code that you can give to your friends and family. If they complete a qualifying transaction using your code, both you and the referee will receive a voucher for account credit. This joining bonus is only available to new customers you refer and is subject to terms and conditions.
- Mobile app – The Skrill app is available on iOs and Android. It enables you to pay and transfer on-the-go, as well as access Skrill other services such as the cryptocurrency e-wallet and payment services.
- News – Skrill provides numerous articles on forex trading through its Skrill news channel. These include beginners guides, how to use indicators and market analysis.
Cons Of Using Skrill For Traders
In general, Skrill is a useful payment method, but there are a few downsides.
- Complex fee structure – It can be difficult to work out exactly how much a transaction will cost due to Skrill’s complex fee structure. Whilst a transaction may be classed as free, for example, sending money to an international bank account, you will be charged an exchange rate fee if the currencies vary. Often, the charge is not clear until the transaction has been completed.
- Withdrawal, deposit and transfer limits – Unverified Skrill accounts are limited in the amount you can withdraw, deposit or send. Skrill does not make its limits clear and reserves the right to amend the threshold. You will be notified immediately if you reach these limits.
Final Word On Skrill Brokers
In conclusion, Skrill is a fast, safe and secure payment method. Depositing with your broker is free of charge and should be a smooth process. Skrill also offers the ability to store and pay with cryptocurrencies, making it a popular choice for traders. However, the fee structure is complex. There are charges for depositing funds into your Skrill account from your banks and withdrawing from it too. Despite this, the money transfer service is a popular method for traders.
FAQs
How Long Does It Take To Verify Your Skrill Account?
It only takes 5 minutes to verify your Skrill account. The company is required by law to verify customers’ identities to protect against fraudulent activities and money laundering. Verifying your account is easy. You’ll just need to submit a copy of your passport, ID or driver’s licence and a proof of address (e.g a utility statement) issued in the last 3 months.
How Long Does It Take To Withdraw Money Using Skrill?
Withdrawal times will vary by broker. eToro states that withdrawal to e-wallets can take up to 7 working days. However, most brokers can process withdrawals in 24-48 hours.
Does Skrill Charge Fees?
Yes, Skrill does charge fees for its services. The fee structure is complex and depends on whether you’re sending or receiving money and the location it is going to (e.g Skrill account, bank account, broker). Importantly, however, paying merchants is free using Skrill – including brokers. However, if your trading account uses a foreign currency, you’ll be charged a currency exchange fee.
Is Skrill Safer Than PayPal?
Both PayPal and Skrill are equally safe methods of depositing and withdrawing funds with your broker. Both are regulated by the FCA and implement sufficient anti-hacker and anti-fraud practices.
How Do I Send Money To A Broker Using Skrill?
To use Skrill to deposit with your broker, you’ll need to have a Skrill account with existing funds or one linked to your credit or debit card. Go to the trading area on your broker’s website and follow the instructions to deposit. You’ll have the option to select Skrill as a deposit method if this is facilitated by your broker.