Best Skrill Brokers 2024
Skrill is a digital wallet accepted by many online brokers. The number of users is constantly increasing due to its speed, simplicity and security. Other advantages include its acceptance of all major currencies and its ability to handle large deposits. Trading with Skrill brokers also benefits forex traders because of its low fees when transferring large amounts of currency. Alternatively, crypto investors can use the platform to move digital currencies, including Bitcoin.
In this guide, we list the top brokers that accept Skrill deposits in 2024. We also run through the pros and cons of the payment solution, from fees and support to customer security.
Best Skrill Brokers
Our tests have revealed these 5 top brokers with Skrill payments:
Skrill Brokers Comparison
Broker | Minimum Deposit | Instruments | Platforms | Leverage | Visit |
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$100 | Forex, Spot Metals | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral | 1:50 | Visit |
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$100 | CFDs, Forex, Indices, Commodities, Stocks, Crypto | MT4, MT5 | 1:500 | Visit |
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$250 | Binary Options, CFDs, Forex, Indices, Commodities, Crypto | TradingView | 1:500 | Visit |
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$20 | Cryptos | TradingView | - | Visit |
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$10 | CFDs, Forex, Metals, Commodities, Stocks, Indices | MT4, MT5 | 1:1000 | Visit |
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$1 | Forex, CFDs, Stocks, Indices, Commodities | MT5 | 1:1000 | Visit |
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$250 | Binary Options, CFDs | TradingView | 1:500 | Visit |
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$30 | Cryptos | Own | - | Visit |
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$250 | CFDs, Forex, Stocks, Cryptos, Options, Commodities | Own | 1:500 | Visit |
#1 - FOREX.com
Why We Chose FOREX.com
Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."
- DayTrading Review Team
- Instruments: Forex, Spot Metals
- Regulator: NFA, CFTC
- Platforms: MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
- Minimum Deposit: $100
- Minimum Trade: 0.01 Lots
- Leverage: 1:50
Pros
- The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
- FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
- With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
Cons
- Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
- Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
- FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
#2 - DNA Markets
Why We Chose DNA Markets
DNA Markets is a forex and CFD broker established in 2020. The broker operates two entities in Australia and the offshore jurisdiction, St Vincent and the Grenadines. Traders can access 250+ markets, with a Standard account for beginners and a Raw account for experienced traders. The reliable MetaTrader 4 and MetaTrader 5 platforms are available, alongside Signal Start.
"DNA Markets is an excellent choice for short-term traders familiar with the MetaTrader platforms. The smooth sign-up process also makes it easy to get started while the $100 minimum deposit is accessible. That said, DNA Markets trails the top brokers in education, research and mobile trading. "
- DayTrading Review Team
- Instruments: CFDs, Forex, Indices, Commodities, Stocks, Crypto
- Regulator: ASIC
- Platforms: MT4, MT5
- Minimum Deposit: $100
- Minimum Trade: 0.01 Lots
- Leverage: 1:500
Pros
- Low trading fees with spreads from 0.0 pips in the Raw account and zero non-trading fees
- Top-rate platforms and charting tools for day traders with access to MT4 and MT5
- Short-term trading strategies are permitted including scalping and automated trading using Expert Advisors (EAs)
Cons
- There are limited educational and research tools, reducing its appeal to beginners
- Although it continues to strengthen its client base and reputation DNA Markets lacks the track record of top brokers like Vantage
- The investment offering trails alternatives, especially in terms of stocks, cryptos and commodities
#3 - Videforex
Why We Chose Videforex
Launched in 2017, Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. The proprietary platform, mobile app and integrated copy trading are user-friendly and will suit new and casual traders, and the market analysis tools and trading contests provide good ways to improve your trading skills.
"Newer traders will find a lot to enjoy about trading binary options on Videforex's easy-to-use proprietary platform, as well as the broker's copy trading solution. Payouts also remain higher than most alternatives climbing to 98%."
- DayTrading Review Team
- Instruments: Binary Options, CFDs, Forex, Indices, Commodities, Crypto
- Platforms: TradingView
- Minimum Deposit: $250
- Minimum Trade: $0.01
- Leverage: 1:500
Pros
- Global clients can make free and fast transfers via a wide range of payment types, from credit cards to cryptocurrencies
- You can easily mirror the trades of experienced investors with low fees
- Traders can earn up to 98% payouts on 100+ assets with the broker’s binary options, which is in line with competing brands like IQCent
Cons
- The broker isn’t overseen by a trusted regulatory agency
- US clients aren’t accepted due to legal restrictions
- No MetaTrader 4 integration
#4 - CEX.IO
Why We Chose CEX.IO
CEX.IO is one-stop-shop for crypto investors where you can buy and sell popular digital tokens, speculate on prices with margin trading and earn rewards through staking. Since it launched in 2013, more than five million traders have deposited over $7.5 billion. CEX.IO is registered with the FinCEN in the US and the GFSC in the EU.
"CEX.IO continues to serve a range of crypto investors looking to buy, sell, trade, hold and earn with low fees. The tiered pricing structure will appeal to active traders while rookie investors will enjoy the straightforward platform interface and excellent education."
- DayTrading Review Team
- Instruments: Cryptos
- Regulator: GFSC
- Platforms: TradingView
- Minimum Deposit: $20
- Minimum Trade: $1
Pros
- High quality educational materials are available through the University feature
- The broker offers 24/7 support with fast response times during tests
- The range of 200+ cryptocurrencies is competitive and will serve more experienced traders
Cons
- A maintenance fee applies after 12 months of no activity
- It's a shame that there's no demo account for traders looking to practice strategies
- Deposit and withdrawal fees are relatively high, including 0.3% + $25 for SWIFT withdrawals
#5 - ForexChief
Why We Chose ForexChief
ForexChief is a foreign exchange and CFD broker, established in 2014. The company is based offshore and registered with the VFSC and FMA. Users can choose between a wide selection of accounts and base currencies, making ForexChief accessible to global traders. The brand also stands out for its no deposit bonus and fee rebates for high-volume traders.
"ForexChief continues to prove popular with investors looking to trade highly leveraged CFDs on the popular MetaTrader platforms. The broker's rebate scheme and investment accounts will particularly appeal to seasoned traders. However, the lack of top-tier regulatory oversight is a major drawback."
- DayTrading Review Team
- Instruments: CFDs, Forex, Metals, Commodities, Stocks, Indices
- Regulator: VFSC
- Platforms: MT4, MT5
- Minimum Deposit: $10
- Minimum Trade: 0.01 Lots
- Leverage: 1:1000
Pros
- The broker offers a turnover rebate scheme geared towards active investors, as well as trading credits and several other occasional bonuses
- ForexChief delivers a high-quality day trading environment via the MT4 and MT5 platforms, with market-leading charts, indicators and tools
- Traders can access a copy trading solution via the MetaQuotes Signals service
Cons
- The broker trails competitors when it comes to research tools and educational resources
- Fees and minimums are imposed on most withdrawal methods, including a €60 minimum for SWIFT bank transfers
- The Classic+ and Cent accounts provide access to fewer instruments than the other account types, at 50+ and 35+, respectively
Skrill Overview
Skrill is a leading eWallet and a popular alternative to PayPal. Founded in 2001 as Moneybookers, Skrill is now part of the Paysafe Group which also owns former rival, Neteller. The payment platform has over 40 million users worldwide.
Available on desktop devices and as a mobile app, the transfer gateway was traditionally used by online casino players for depositing funds and withdrawing winnings. However, investors are also increasingly using the brand to fund online trading accounts, capitalizing on the firm’s multiple offers, promotions and VIP benefits. And while not as ubiquitous as PayPal for everyday transactions, the number of online brokers accepting Skrill makes it a serious contender.
Pros Of Skrill Brokers
Benefits of trading with brokers that accept Skrill deposits and withdrawals include:
- Free to receive money
- Easy to use and register
- Actively encourages forex trading
- Common deposit method at online brokers
- Link up to ten debit/credit cards to your account
- The more money you transact, the lower the fees
- Fast transactions (unless involving wire transfer)
- A multitude of promotions and welcome offers, including referral schemes
- Strong security (card or bank details are not revealed and data is encrypted)
- For forex traders, Skrill supports 38 currencies (including Euro, British Pound, US Dollar and Yen)
Cons Of Skrill Brokers
As a potential digital wallet for traders, there are also some drawbacks:
- Fees to withdraw funds
- Charged for unused account
- High currency conversion fees, plus handling fee
- Website unclear on specific deposit and withdrawal limits
- Verification needed to increase deposit/withdrawal limits and decrease fees
Speed Of Payments
Making deposits with Skrill is usually fast. Funds uploaded to your account with debit or credit cards are instant; for wire transfers, you should allow up to five working days. All cards and accounts used for trading deposits and withdrawals have to be in your name.
You can also make instant deposits with the following:
- Boku
- Klarna
- Bitcoin
- Trustly
- Neteller
- Paysafe Cash
- Rapid Transfer
- Fast Bank Transfer
- Over 100 local payment methods including iDEAL in the Netherlands, Alipay in China and Giropay in Germany
Security
The corporation takes a multitude of security measures to ensure that its users are protected. All sensitive transaction information is safeguarded with a 128-bit encryption and protected according to the Payment Card Industry Data Security Standards.
The mobile app also has a two-tier login. This means that as well as entering their email address and password, users have to enter a code sent to their mobile device. But while Skrill is a secure payment solution, investors should still sign up with trusted and reliable trading brokers.
How To Deposit Using Skrill
User accounts are free and easy to set up, although you will need to verify your ID if you want to increase your deposit and withdrawal limits. You can deposit for free if you utilize a debit/credit card or a bank transfer.
Skrill is the opposite of PayPal in that it never charges to receive money. However, it takes a fee to withdraw to your eWallet or credit card. The only way for traders to avoid this fee is to use the bank transfer option, which has 0% fees.
Fees & Costs
Trading with this payment method can get costly. The main sting is the withdrawal fee which currently works out at:
- 49% for Neteller
- 2% for cryptocurrencies
- £4.66 for Swift wire transfers
- 99% for Visa and Mastercard
The firm also offers a service called Skrill Money Transfer which gives traders the ability to send money to anyone (including themselves), converting it into any of its supported currencies using the Reuters exchange rate.
It’s free to receive funds, but to send it costs between 1-5% depending on your chosen method. Transfers between accounts incur a fee of 2.99%. If you verify your identity and become a True Skriller, this drops to 1.45%. For international payments, sending money to a bank account, in any of the countries the platform supports, is free.
Note that higher VIP levels can help reduce FX rates.
VIP
There are three VIP levels that you can attain for each quarter if you hit a certain threshold within the preceding quarter:
- Silver: Transact over €15,000 per quarter
- Gold: Transact over €45,000 per quarter
- Diamond: Transact over €90,000 per quarter
Once you’re a Silver VIP member or above, trading with Skrill becomes beneficial in terms of removing or reducing fees. You can also begin opening other accounts in different currencies, helping you to avoid FX fees.
Inactivity Fee
If your account is inactive for a period of six months, Skrill begins applying a monthly charge of €5 (or equivalent). The good news for Skrill traders is that closing your account is free and easy. Alternatively, simply logging in to your Skrill account counts as activity.
Is Skrill Good For Day Trading?
Skrill is a popular payment method with investors. But whether it’s right for you depends on how much you trade and whether you make deposits and withdrawals via offshore brokers. If you are transferring in large amounts and qualify for a VIP level, then it could be a cost-effective digital wallet to support your online trading activity.
FAQ
Is It Quick To Deposit To My Trading Account Using Skrill?
The payment gateway offers instant transfers to most online brokers. However, if you wish to make a deposit or withdrawal using bank wire, this can take up to five days. Check the payment timelines on your broker’s website before you make a payment.
Is Skrill Available At International Brokers?
The payment system is available in the majority of countries around the world, including the United Kingdom, EU member states and the United States. You can even find a Skrill broker in Pakistan. The most notable exception where the platform isn’t available is Japan (although it does support Yen transactions).
Which Countries Have Skrill Payment Restrictions?
The only country-specific restrictions with Skrill are in the United States or related to US dollars: you cannot deposit in US dollars – these are automatically converted to Euros and the 3.99% conversion rate is applied – and you cannot withdraw US dollars to your bank account. On top of that, Skrill Money Transfer transactions cannot be funded with US-issued debit or credit cards.
Do Interactive Brokers Accept Skrill?
Interactive Brokers does not accept this payment method. See our list of alternative trading brokers that accept Skrill deposits to get started.