Best Skrill Forex Brokers 2022
Forex brokers that accept Skrill offers fast deposits and withdrawals for their traders. Apart from this, Skrill broker also provide some other benefits too! We will talk about everything about the best forex brokers with Skrill step by step in this article. Furthermore, you will get an overview to find the Skrill forex trading.
Throughout this article we will also discuss the ins and out of best Skrill forex trading platforms. As a result, you will be able to find the best forex broker. Read on to know more.
What is Skrill?
Who doesn't like to have an easy-to-use funding method for forex trading? If you search for an easy transition method, you will find numerous location-specific methods that claim to be the best. But if you go for a digital wallet accepted worldwide, you will find a few of them, and Skrill is one of them.
Skrill is an online payment system that allows its users to pay or send money through a secured and quick online environment, which is commonly known as an e-wallet. You can receive the payment in the same way too.
This payment service is based in the UK founded in 2001, known as Moneybookers initially. FCA authorizes Skrill transaction methods for the Skrill forex trading. Skrill works in 200+ countries and processes 150+ million transactions worldwide for their 40+ million users. Further, "Skrill is now part of the Paysafe," who also own "Skrill's former rival Neteller."
Over the last 20 years, Skrill gained a good reputation due to its ease of use, secured, and fast payment features. Moreover, the low transaction fee is also another reason behind its popularity. Eventually, most of the forex brokers offer Skrill as a payment system to grab more traders. So, forex trading brokers with Skrill usually don't charge any fees for deposits and withdrawals.
Best Skrill Forex Brokers List
Secret Behind Skrill's Popularity
With more than10 years of its establishment, Skrill gained immense popularity and currently has become a top competitor of PayPal. So, why did they become so popular? Let's find it out.
Skrill offers a fast and easy to control trading activity. Their strong, speedy servers give you the opportunity to move your funds from your broker account to the bank and vice versa. Although the transaction process is fast via Skrill, you can easily control your trading activity.
Moreover, you can save your card for future transactions, and later, you can load money to your account with a few clicks. Furthermore, it also allows depositing money via Bitcoin, Fast Bank Transfer, Paysafe Cash, Trustly, Boku, Rapid Transfer, Klarna, and Neteller.
Funding on a Skrill account is really quick via debit/credit card or even wire transfer.
Skrill account holders can get their own prepaid MasterCard. Sometimes, brokers may also offer the Skrill card. It gives you the benefit of withdrawing the money.
Skrill forex brokers are highly convenient, and you can receive or send money on your Skrill account across 200 countries globally. Nevertheless, it is easy and secured across the border transaction method.
Usually, traders prefer Skrill after PayPal as their digital wallet due to its competitive fee structure. Moreover, loading money in the Skrill account is free, but they charge a small fee for sending money.
Due to its high level of protection, Skrill got authorization from FCA. Their data encryption gives you total protection, and hackers cannot do anything in the middle.
Further, they also take numerous security measures for maximum protection. All of their data and transactions are secured via 128-bit encryption, which is known as the highest level of protection according to the "Payment Card Industry Data Security Standards."
Moreover, the two-tier login to the Skrill account ensures the user's protection. So, whenever a user wants to log in to the account, they will have to provide their email and password, then a one-time verification code will be sent to the mobile. After inserting the code, the user can log in to the account.
How to Fund the Forex Brokers Accepting Skrill?
Depositing on your forex account through Skrill gives you an easy way, and the whole funding process is very simple and easy to use. Once your Skrill account is ready and has balance in it, you are good to go with funding on your Skrill forex trading account. But you have to check first if your broker allows Skrill.
Let's assume you have chosen a broker that offers Skrill. To fund your forex account, visit the payment page in the account and enter the amount you want to add. After that, select the Skrill payment method. Then you will be redirected to the Skrill website, and you will be required to enter the credentials. You are now on your Skrill account and approve the payment. As soon as you approve the payment from your Skrill account, your money will be instantly available in your forex account. Practically, Skrill broker forex will complete the process within a minute.
How to Withdraw from Skrill Forex Brokers?
Withdrawing follows pretty much the same procedure as the deposit. The only difference is that Forex brokers accept Skrill withdrawals are not an instant procedure. It might take a few business days as the Skrill broker forex needs to approve the withdrawal before it is available to your Skrill account.
So, when you want to withdraw the balance from the Skrill forex brokers to your Skrill wallet, head over to the withdraw option, enter the amount, and choose Skrill as a method. After that, you may need to verify your Skrill account with the broker. Then, the broker might take 1 hour to a few days to release your fund.
Pros of Using Best Forex Brokers That Accept Skrill
You already know that Skrill is one of the popular digital wallets you can access now via the internet. Both forex brokers and traders prefer this method due to the several advantages.
The initial pros of Skrill are that it can initiate an instant transaction with few clicks or taps on your mobile screen. Furthermore, you will get access to one of the quickest withdrawals available in the forex industry. The brokers clear the transaction as soon as possible. If you compare the transaction time with the old-fashioned bank transfers, you will feel the difference. While the bank transfer may take 1 to 5 business days for withdrawal, the Skrill will take 1 hour to 2 or 3 business days.
Another advantage of Skrill is that they are available almost everywhere in the world. Moreover, brokers widely accept Skrill, and you will find that almost all the forex brokers take Skrill for the transaction.
Finally, the great advantage of using Skrill is that they can protect your identity; perhaps you can remain anonymous. Even though you use a credit/ debit card or bank account for Skrill's deposit, your information remains protected, and you don't need to reveal anything to a third party. So, if you are very conscious about security in forex trading, you don't need to worry anymore if you use Skrill.
Disadvantages of Skrill Forex Brokers
Of course, all the payment methods in the world have some lacking, and Skrill is not different. Firstly, you will face multiple fees from Skrill which you cannot avoid at all. If you think about the quality of the service, the fees are negligible. At the same time, you will be able to access some great features for free.
Another con of forex brokers that accept Skrill is that it is not available in all countries in the world. For example, Americans and Japanese are not allowed to access or hold a balance on Skrill legally. So, traders from these countries need to find alternatives. However, brokers from these countries will show you the alternatives. Hence you don't need to worry about that.
So, if you consider the service you are getting from Skrill, these drawbacks are ignorable. And because of that, Skrill's popularity is on a spike.
Fees and Limit for the Best Skrill Forex Brokers
You may not have to pay any fees to deposit money from your Skrill to the forex account. But you cannot ignore the fees you need to pay to maintain a Skrill account. If you use Skrill solely for the forex brokers that accept Skrill, you can count those fees as your Skrill forex trading fees.
So, what are the Skrill fees?
Before you even initiate a deposit to your forex account via Skrill, you will need to top up the balance on Skrill. However, loading the balance on Skrill is free, but you will need to pay the charge to send the money to your forex account. In this case, Skrill will charge you 1% of the total deposit. Furthermore, Skrill supports a wide range of balance loading methods. So, you can load and send out the money easily.
When it comes to the international fund transfer via Skrill, it will not cost you a dime. But domestic transfer has a fee, and they might charge you 2%. Nevertheless, receiving funds on Skrill is free, while sending money from Skrill charges a fee. For the transaction other than your local currency, Skrill charges 3.99% exchange fee.
Finally, let's know about the limits. Usually, there is no limit for Skrill transactions. But, you need to verify your account with proper documents to access all the features.
Chargeback on Forex Trading Brokers with Skrill
Although chargeback on forex trading is not commonly practiced on Skrill. So, if you want to withdraw your money back without any trading, you can request via your broker account. However, sometimes brokers don't allow you to reverse the deposited amount unless you make any trading.
If that doesn't work, you can contact Skrill and let them know the situation. They might give you reasonable advice. Furthermore, you may also contact the proper regulatory body for a reasonable solution.
Inactivity Fees on Skrill
If your Skrill account doesn't make any transaction or you don't log in for 12 months, it charges an inactivity fee. However, recently they have started imposing a monthly charge too. But the good thing is that you don't need to pay any fees for closing the account. To keep your account active, you can just log in to the account, which counts as activity.
Things you Need to Open and Skrill Account for Forex
Skrill doesn't ask for a huge number of documents; they only require a government-issued ID or a valid driving license or passport for the verification. Furthermore, you may also need to provide a utility bill, latest bank statement, tax assessment, address verification letter from the account holder. You need to fill in all this information on the KYC form. After you submit all the documents, your Skrill account will be ready to use with the best Forex brokers accepting Skrill.
How to Find the Best Online Forex Trading Brokers That Accept Skrill?
There is no special rule to find the Skrill forex brokers, but if you are looking for the best one, you will firstly need to see the broker if they offer Skrill payment methods. After that, check the regulations, charges and commissions, leverage, account types, offered instruments, and more.
But you will need a tremendous amount of research to find out the best Skrill Brokers. If you want to save your time, you could check the Skrill forex brokers list here on this page. We have picked the 10 best Skrill broker forex, and you can choose any of the ones from this list of brokers accepting Skrill. Moreover, from the list, you can even compare brokers that accept Skrill based on different criteria.
By now, you should know the popularity of Skrill and its ease of use. That is why the demand of Skrill forex brokers is on the rise and most of the brokers are adding Skrill to their payment method. The best thing is that it supports 40+ currencies while it comes to transactions. Therefore, regardless of your location, you can transfer in and out from your best forex broker to Skrill on your chosen currency.
So, if you want a hassle-free transaction method, forex brokers that accept Skrill should be your top priority.