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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- | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting | WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade | 1:30 (Retail) 1:400 (Pro) | Visit |
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$5 | CFDs, Multipliers, Forex, Stocks, Indices, Commodities | Deriv Trader, MT5 | 1:1000 | Visit |
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$0 | CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting | MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade | 1:30 (Retail), 1:500 (Pro) | Visit |
|
$5 | Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures | MT4, MT5 | - | Visit |
|
$200 | CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto | MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) | Visit |
|
$100 | CFDs, Forex, Stocks, Indices, Commodities | MT4, MT5, TradingView | - | Visit |
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$50 | CFDs, Forex, Indices, Commodities | MT4, MT5 | 1:30 | Visit |
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$100 | CFDs, Forex, Indices, Commodities, Stocks, Crypto | MT4, MT5 | - | Visit |
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$100 | CFDs, Forex, Stocks, Cryptos, Futures, Options, Commodities | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral | 1:200 (Retail), 1:500 (Pro) | Visit |
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$50 | CFDs, Forex, Stocks, ETFs, Cryptos, Futures, Commodities, Bonds | eToro Web, CopyTrader, TradingCentral | - | Visit |
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$10 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures | R StocksTrader, MT4, MT5, TradingView | 1:2000 | Visit |
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- | CFDs, Forex, Stocks, ETFs, Cryptos, Futures, Commodities | MT4, MT5 | - | Visit |
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$0 | Forex, CFDs, Indices, Shares, Commodities, Futures, Bonds, Cryptos (Bahamas Entity Only) | MT4 | 1:500 (entity dependent) | Visit |
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- | Forex, CFDs, Stocks, Indices, Commodities and Cryptos | Skilling Trader, MT4, cTrader, TradingView | - | Visit |
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$0 | Forex, CFDs, stocks, indices, energies, metals, commodities, cryptos | MT4, MT5, cTrader, TradingView, AutoChartist | 1:500 | Visit |
#1 - AvaTrade
Why We Chose AvaTrade
AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, alongside a comprehensive education center and multilingual customer support.
"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting
- Regulator: ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM
- Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
- Minimum Trade: 0.01 Lots
- Leverage: 1:30 (Retail) 1:400 (Pro)
Pros
- Automated trading is supported through MetaTrader Expert Advisors (EAs), as well as the AvaSocial and DupliTrade tools
- The broker offers reliable 24/5 multilingual customer support with fast response times during testing
- The broker’s unique risk management tool, AvaProtect, protects against losses up to $1 million and is easy to activate in the platform
Cons
- Traders from the US are not accepted
- It’s a shame that there are no rebate schemes for serious traders looking for additional perks - CMC Markets would be a better choice here
- There is no ECN account with raw spreads
#2 - Deriv.com
Why We Chose Deriv.com
Deriv.com is a low cost, multi-asset broker with over 2.5 million global clients. With just a $5 minimum deposit, the firm offers CFDs, multipliers and more recently accumulators, alongside proprietary synthetic products which can't be found elsewhere. Deriv provides both its own in-house charting software and the hugely popular MetaTrader 5.
"Deriv.com will suit day traders looking to make fast-paced trades using CFDs and multipliers with high leverage up to 1:1000. The broker is also the industry leader in synthetic indices, which simulate real market movements and are available around the clock. "
- DayTrading Review Team
- Instruments: CFDs, Multipliers, Forex, Stocks, Indices, Commodities
- Regulator: MFSA, LFSA, VFSC, BFSC
- Platforms: Deriv Trader, MT5
- Minimum Deposit: $5
- Minimum Trade: 0.01 Lots
- Leverage: 1:1000
Pros
- Beginners and experienced day traders can access a good range of 20+ technical indicators in Deriv Trader vs 30+ in MT5
- Deriv bolstered its short-term trading opportunities in 2024 with accumulator options on simulated indices featuring up to 5% growth rates
- Deriv continues to offer fast and reliable 24/7 support and the WhatsApp service is particularly convenient
Cons
- There are limited copy trading tools and analysis features compared to alternatives like IQ Cent
- The range of 100+ assets trails some competitors such as Quotex which offers 400+
- There's no loyalty program or rebate scheme for high volume traders
#3 - Pepperstone
Why We Chose Pepperstone
Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.
"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."
- DayTrading Review Team
- Instruments: CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
- Regulator: FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
- Platforms: MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
- Minimum Deposit: $0
- Minimum Trade: 0.01 Lots
- Leverage: 1:30 (Retail), 1:500 (Pro)
Pros
- Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.
- Pepperstone boasts impressive execution speeds, averaging around 30ms, facilitating fast order processing and execution that’s ideal for day trading.
- There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
Cons
- Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
- There’s no simplified proprietary trading platform, nor are there any social trading features, which could be a disadvantage if you are new to day trading.
- Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets.
#4 - XM
Why We Chose XM
XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.
"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."
- DayTrading Review Team
- Instruments: Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures
- Regulator: ASIC, CySEC, DFSA, FSC, FSCA
- Platforms: MT4, MT5
- Minimum Deposit: $5
- Minimum Trade: 0.01 Lots
Pros
- 1000+ instruments are available, including recently added thematic indices, providing exposure to emerging industries
- XM is a hugely respected broker authorized by tier-one regulators
- Transparent and low fees with spreads from 0.0 pips that will help protect day trading profit margins
Cons
- There's $5 inactivity fee after only 3 months, though this won't affect active traders
- PayPal deposits are not supported
- There is weak regulatory oversight through the global entity
#5 - IC Markets
Why We Chose IC Markets
IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.
"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
- Regulator: ASIC, CySEC, FSA
- Platforms: MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
- Minimum Deposit: $200
- Minimum Trade: 0.01 Lots
- Leverage: 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
Pros
- With ultra-fast execution speeds averaging 35 milliseconds and deep liquidity, IC Markets provides an optimal trading environment for scalpers, hedgers, and algorithmic traders.
- IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
- As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
Cons
- Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
- The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
- Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
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.