Skrill Forex Brokers

Skrill (formally MoneyBookers) enables forex traders with email address to securely and cheaply deposit and withdraw payments online. The transactions are done in real-time. Using email you can send money from your credit card or bank account. You can also collect money via email. Skrill welcomes  traders from every nation of the earth.

Here is the list of forex brokers accepting Skrill.

Is Skrill better than PayPal?

Despite the inferiority, Skrill is found on the better percentage of online casinos. For example, Paypal offers 25 currencies to deposit and withdraw your money while Skrill ensures that you can receive and pay money in 41 currency. This is not the only reason why Skrill is a better payment service than PayPal.

Can you trust Skrill?

They keep their users safe by making sure people are who they say they are. While some customers were unhappy about Skrill’s identity verification procedures, I appreciate them. They keep their users safe by making sure people are who they say they are. Yes, absolutely, Skrill is a legitimate business. So what is certain is that Skrill is a highly efficient and inexpensive way to fund a trading account. Based on the above factors we have compiled a list of the very best and most reliable orex brokers that accept this payment method.

What Forex Traders Likes About Skrill

• Very competitive fees and exchange rates;
• Transfers are secure, fast, and convenient;
• A much-loved service with excellent customer reviews on Trustpilot;
• An impressive number of countries and currencies are supported;
• International transfers are available using debit and credit cards.

What Forex Traders Dislikes About Skrill

• The number of currencies available varies by sending country;
• Money can only be sent to a bank account or a mobile wallet;
• Fees are levied through a nontransparent exchange rate margin.

Why use Skrill as Your Deposit/Withdrawal Method?

The use of Skrill to deposit and withdraw funds in your forex account can be a beautiful thing. It is fast, easy, and secure. Skrill can be hooked up directly to your bank account, so once transferred into your Skrill account you have the option to hold it or transfer to your bank account. All your credit card and account details are stored with Skrill all in one place, so the only information you need to transfer, is your username and password- a lot less hassle. Also as a VIP member you can reap the benefits they offer, such as a security token, multiple currency accounts, and loyalty points.

Benefits of Choosing a Broker that Accepts Skrill in 2022

Brokers who accept Skrill have a great deal of benefits. For instance, the transaction speeds with many forex brokers accepting Skrill is generally instant. Having the ability to withdraw profits or make payments is an important benefit with Skrill forex brokers. Another benefit, many forex brokers accepting Skrill give their customers special discounts and bonuses. In addition to this, Skrill also offers promotions and discounts with various brokers as well. Another important benefit, there are a large amount of forex brokers accepting Skrill, which gives you more options to whey in on when choosing the perfect broker for you. 

Skrill Fees or Costs

Skrill 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.

Beyond that, as noted above, trading with Skrill can potentially become costly. The main sting is the withdrawal fee which currently works out at £4.76 per transaction (€5.50), or 7.5% if you withdraw from Skrill to a credit card. As traders who transact €15,000 or more per quarter don’t have to pay these fees, it mostly affects traders who want to make a number of smaller withdrawals.

Money Transfer

Skrill offer a service called Skrill Money Transfer which offers traders the ability to send money to anyone (including themselves), converting it into any of its supported currencies in the process, at “zero mark-up” and using Reuters exchange rate.

However, it’s important to note that this is a separate service to a Skrill account. Transfers and payments from your Skrill wallet that require a currency conversion are subject to a 3.99% fee. The VIP programme offers lower fees. For traders who transact €6000 per quarter, the fee reduces to 3.79% and can go as low as 1.99%.

The Skrill website also notes that sending money incurs a 1.45% fee (with a minimum charge of £0.43 or €0.50). However, this only applies if you’re sending funds to another digital wallet service or similar. Sending money to a bank account, in any of the countries Skrill supports, is free. Again, this fee disappears above a certain level of funding.

Inactivity Fee

If your Skrill account is inactive for a period of 12 months, Skrill also begin applying a monthly charge of €5 (or equivalent) per month. 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.

Making deposits and withdrawals with Skrill

As with any withdrawal method, the brokers will generally required to verify clients before they allow you to make any withdrawals. These are usually set out by the regulator for example the Financial Conduct Authority in the UK.

Required documents

• Government issued ID/Passport/EU Driving licenses
• Utility bill/bank statement/tax assessment showing your full name and physical address
• KYC form

Once registered payments and withdrawals are simple and take only a few days.

Usual payment/withdrawal processing times

• Payments – Instant
• Withdrawals – 24 hours

Different brokers may have different requirement so it would be best advised to check what your chosen broker requires before you are allowed to make any withdrawals.