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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.
|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.
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
- instant transfers
- available worldwide
- don’t have to share bank details with brokers
- Mobile app compatibility
- might charge fees for withdrawals
- Not always eligible for broker deposit bonuses
- Some countries might apply restrictions on Skrill
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