eToro
Visit eToro
77% of retail investor accounts lose money
10 Best Skrill Forex Brokers for 2023
Top Picks
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AvaTrade
Visit AvaTrade79% of retail investor accounts lose money -
XM
Visit XM77,37% of retail investor accounts lose money -
IC Markets
Visit IC Markets74-89% of retail CFD accounts lose money -
EasyMarkets
Visit EasyMarkets75% of retail investor accounts lose money -
NAGA
Visit NAGA80.85% of retail investor accounts lose money -
HFM
Visit HFM70.51% of retail investor accounts lose money -
FXCM
Visit FXCM70% of retail investor accounts lose money -
ActivTrades
Visit ActivTrades75.7% of retail CFD accounts lose money -
FXTM
Visit FXTM81% of retail investor accounts lose money
Skrill forex brokers refer to forex (Foreign Exchange) brokerage firms that accepts deposits, and sometimes withdrawals, through Skrill, an online money transfer service.
Skrill, previously known as Moneybookers, is an electronic wallet or e-wallet service that allows people to transfer money globally. It’s widely used for online shopping, money transfers, and depositing funds into trading accounts. When a forex brokerage accepts Skrill, it means they have incorporated this payment method into their platform, providing traders with the option to fund their trading accounts or withdraw profits using this e-wallet.
In this article we have included forex brokers that accept the payment method Skrill.
To compile the list of brokers we have taken into consideration a range of factors:
- Skrill deposit and withdrawals fees from the broker
- Time of processing for both Skrill deposits and withdrawals
- Skrill minimum / maximum deposit with the broker
- Skrill minimum / maximum withdrawal with the broker
- Account base currencies accepted for making a payment with Skrill.
Table of Content
Round-Up
Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
| SKRILL FOREX BROKERS | SKRILL DEPOSIT FEE | SKRILL DEPOSIT PROCESSING TIME | SKRILL WITHDRAWAL FEE | SKRILL WITHDRAWAL PROCESSING TIME |
|---|---|---|---|---|
| eToro | $0 | Instant | $5 | Up to 2 business days |
| AvaTrade | $0 | Up to 24 hours | $0 | Up to 24 hours |
| XM | $0 | Instant | $0 | Up to 24 hours |
| IC Markets | $0 | Instant | $0 | Up to 3-5 business days |
| easyMarkets | $0 | Instant | $0 | Up to 1 business day |
| NAGA | $50 | Instant | From $0 to $5 | Up to 24 hours |
| HF Markets | $0 | Up to 10 minutes | $0 | Instant |
| FXCM | $0 | Up to 24 hours | $0 | Up to 2 business days |
| ActivTrades | $0 | Up to 30 minutes | $0 | Up to 48 hours |
| FXTM | $0 | Instant | $0 | Up to 24 hours |
What are the best Skrill forex brokers?
Below our curated list of the best Neteller forex brokers, with details of features and characteristics.
- eToro clients who want to use Skrill will find a minimum deposit requirement from $50 depending on location.
- The minimum eToro withdrawal amount requested is $30.
- No fees from eToro’s part on Skrill deposits but eToro charges a $5 fee on Skrill withdrawals.
- With eToro, the processing time is instant for Skrill deposits, while it can take up to a couple of business days for Skrill withdrawals.
- eToro’ account base currency is USD, so with any other currency used you will get charged a conversion fee from eToro from 50 pips depending on the base currency. eToro accepts AUD, GBP, and EUR for Skrill payments.
- Skrill applies a 3.99% currency conversion rate.
- AvaTrade’s EU and Australian traders cannot use Skrill as one of their payment methods.
- AvaTrade requires a minimum Skrill deposit of $100.
- Fee-free from AvaTrade’s part on both Skrill withdrawals and deposits.
- The Skrill deposits and withdrawal processing time is up to 24 business hours.
- Base currencies may depend on your location, but majors like USD, EUR, GBP, AUD, ZAR, and CHF are typically available.
- Skrill charges a currency conversion fee of 3.99%.
- XM does not charge any fee for Skrill deposits and withdrawals.
- The minimum amount required for deposits and withdrawals is $5.
- Usually, XM Skrill deposits have an instant processing time.
- XM Skrill withdrawals take up to 24 hours to be processed.
- For Skrill payments, USD and EUR base currencies are typically available everywhere. Then there are less common base currencies like SGD, JPY, or ZAR: the availability depends on your location.
- Skrill expects a currency conversion fee of 3.99%.
- Both Skrill deposits and withdrawals are fee-free from IC Markets’ part.
- IC Markets allows you a maximum Skrill deposit or withdrawal of up to $70,000.
- Skrill deposits are processed instantly, while withdrawals may take longer (up to 3 business days) but are instant once they are processed.
- The base currencies accepted by IC Markets are USD, EUR, GBP, AUD, JPY, and SGD. Availability depends on your location.
- A currency conversion rate of 3.99% is charged by Skrill.
- Skrill with easyMarkets is not available in many countries in Africa and Asia.
- Both Skrill deposits and withdrawals with EasyMarkets are fee-free from the broker’s side.
- There is no minimum requirement for Skrill withdrawals with EasyMarkets.
- The processing time for Skrill deposits with easyMarkets is instant, while withdrawals typically take 1 working day.
- There are many accepted base currencies, including USD, EUR, and GBP. Remember the availability of base currencies depends on your location.
- Please note that Skrill expects a currency conversion rate of 3.99%.
- FXTM allows their Skrill clients use of the Skrill VIP program. The perks include deposit charges being covered by FXTM, your own personal Skrill Account, a free Skrill Prepaid Mastercard, and fast verification of deposits. The program may not be available for all clients.
- FXTM does not charge a fee for Skrill deposits and withdrawals.
- With FXTM, Skrill deposits are instant, while withdrawals take 24 hours to be processed.
- FXTM’s accepted base currencies are EUR, USD, PLN, GBP, and CZK, with availability depending on your location.
- Skrill charges a currency conversion rate of 3.99%.
- The minimum deposit recommended by NAGA when using Skrill is $250.
- When making a Skrill deposit, you won’t get charged any fee from NAGA.
- Skrill deposits’ time of processing is almost instant.
- The minimum withdrawal amount recommended when using Skrill is $50.
- Withdrawals fees can be from 0 to $5 based on your NAGA VIP User Level.
- Skrill withdrawal processing time is up to 24 hours.
- Base currencies provided by NAGA are typically EUR, PLN, GBP, and USD, though the availability may depend on your location.
- Skrill charges a currency conversion fee of 3.99%.
- HF Markets provides Skrill as one of their payment methods.
- The minimum Skrill deposit a HF trader can make is $50 while the maximum deposit is $10,000.
- No deposit fees from HF Markets are charged on Skrill deposits and these can be processed within 10 minutes.
- The minimum Skrill withdrawal a HF client can make is $5.
- No withdrawal fees from HF Markets are charged on Skrill withdrawals and these are processed instantly.
- Typically the account base currencies available are USD, EUR, NGN, AR, GBP, and JPY, though availability depends on the account type and on your location.
- Keep in mind the currency conversion rate of 3.99% applied by Skrill.
- With FXCM you can make a Skrill minimum deposit of $50 and a maximum of $20,000.
- FXCM does not charge a fee on Skrill deposits.
- The processing time for Skrill deposits is 1 business day.
- Skrill with FXCM is also available for withdrawals. You will have to make a request via email to admin@fxcm.com to proceed with the withdrawal.
- No withdrawal fees charged on FXCM’s part.
- The processing time for Skrill withdrawals can be up to a couple of business days.
- Account base currencies accepted for Skrill payments are EUR, USD, and GBP for EU clients, while USD is the one available for International clients.
- A currency conversion rate of 3.99% is charged by Skrill.
- ActivTrades clients who will use Skrill will find fee-free deposits and withdrawals from the broker’ side.
- Skrill deposits have a processing time of 30 minutes with ActivTrades.
- Skrill withdrawals have a processing time from 24 to 48 hours with ActivTrades.
- The base currencies supported for Skrill payments by ActivTrades are generally EUR, GBP, and USD among the others, with availability depending on your location.
- Keep in mind the currency conversion rate of 3.99% applied by Skrill.
How to choose the best Skrill forex broker?
When choosing the best Skrill forex broker, several factors come into play. Here’s a comprehensive guide to help you make an informed decision:
- Check the broker regulatory oversight before committing to any forex broker as it’s vital to ensure they operate under recognized regulatory bodies, such as the FCA (Financial Conduct Authority) in the UK, the ASIC (Australian Securities and Investments Commission) in Australia or the CySEC (Cyprus Securities and Exchange Commission) in Europe.
- Check the deposit/withdrawal features with Skrill, since it’s important to check the transaction fees charged by the broker and the time taken for deposit and withdrawal processes. Lastly, verify the minimum deposit requirement for Skrill and the minimum-maximum withdrawal limits for Skrill transactions.
- Check for trading tools and educational resources to enhance your trading experience. Inspect the broker’s trading platforms for user-friendliness, accessibility, and features. Also, evaluate any tools and educational resources offered.
Is Skrill safe?
Skrill operates under the regulatory oversight of the Financial Conduct Authority (FCA) in the UK, which ensures stringent measures are in place for user protection.
Skrill uses high-level encryption to protect its users’ data. In addition, they offer two-factor authentication, adding an extra layer of security to accounts.
While Skrill has robust security measures, users should remain vigilant. Always use strong, unique passwords and be cautious of phishing attempts. Regularly reviewing account activities can also help spot any suspicious transactions.
What are the fees using Skrill?
Forex transactions via Skrill come with their own set of fees. Most forex brokers won’t charge any fee for deposits made via Skrill, making it an economical choice for many traders.
While Skrill deposits might be free, withdrawals can incur fees. These fees typically range between 1% and 3% of the transaction. However, some brokers might waive the fee if you withdraw a set minimum amount.
What are the processing times?
Skrill ensures prompt processing of transactions. Skrill deposits are typically instant, allowing traders to quickly fund their accounts and start trading. Depending on the broker’s policy, Skrill withdrawals might take up to a business day.
Various elements can influence these processing times. For instance, new users might experience delays due to verification processes. Additionally, individual bank policies might also affect the speed of transactions. Always check with both the broker and your bank to get an accurate estimation.
Pros and Cons of Skrill Forex Brokers
Pros
- instant transfers
- available worldwide
- don’t have to share bank details with brokers
- Mobile app compatibility
Cons
- might charge fees for withdrawals
- Not always eligible for broker deposit bonuses
- Some countries might apply restrictions on Skrill
About The Author
Filippo Ucchino
Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of InvestinGoal.com. He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.
10 Best Skrill Forex Brokers for 2023
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