The relatively young broker Skilling, based in Cyprus, specializes in trading CFDs and Forex. So it’s time for us to take a closer look at the broker.
On Skilling only CFDs and Forex can be traded. CFDs are leveraged products on stocks, cryptocurrencies, commodities or similar. In this case, the CFD represents the stock as a leveraged product, for example. CFDs are thus much riskier than direct investments, since the leverage also works downwards. Shares, cryptos, commodities and the like cannot be traded directly on the platform. The broker is exclusively for derivative products. Skilling’s transaction costs are 4% or 3% percent for stocks, and 0.04% for cryptocurrencies. For forex certificates, the platform charges 3.5% when buying, and 3% when selling.
Disadvantages
The biggest disadvantage of Skilling is the non-existence of directly tradable stocks, funds, cryptocurrencies and commodities. However, it must be said that this is also not Skilling’s intended customer group. The broker is clearly aimed at more professional investors, or CFD traders. In addition, the high fees are a major disadvantage.
Advantages
However, for the targeted customer group of Skilling, the CFD traders, the platform is recommendable. The broker shines with a large number of tradable certificates. On the negative side, Skilling charges significantly higher fees compared to other CFD brokers such as Plus500. Also, the leverage of 1:30 is lower than Plus500’s (up to 1:100). But, unlike Plus500, Skilling does also offer forex products.
Conclusion: Skilling review
Skilling convinces with a wide range of CFDs and Forex products. The big advantage of the broker is that it does not only specialize in stocks, funds and ETFs or cryptocurrencies, but makes all of them tradable. However, the broker cannot be recommended for beginners and stock market rookies, as CFDs and Forex are much more speculative and risky compared to directly tradable securities, as the selected leverage also works to the downside.
In case you are convinced by Skilling now, we have a link for you here:
If you are not convinced by the broker, you should have a look on our Plus500 review.
