Skrill is a secure virtual wallet and digital payment app that you can use to fund your trading accounts. In this article, we reveal the pros and cons of our 15 Best Skrill Forex Brokers and we review the features, tools, platforms, trading conditions and instruments these brokers offer.
Skrill is a digital payment system that can be used to make secure payments online. With Skrill, you can instantly buy and sell cryptocurrencies using the app and you won’t have to make accounts with other crypto exchanges to trade crypto or deposit funds into other accounts.
Skrill offers a plastic prepaid card that you can use to deposit money directly into your Skrill account and spend it anywhere Visa is accepted.
The Skrill debit card can be connected to Skrill’s digital wallet system, which is an accepted payment method on thousands of websites. With Skrill’s loyalty program, you can get discounted transfer fees and the Skrill app can be used 24/7 and is available on Google Play and App Store.
More than 40 currencies can be sent to people around the world and you can send money to other Skrill users via the app or to their email addresses.
When you play games on Skrill’s Knect Loyalty Program, you can earn points and exchange the for cash and other rewards.
HFM (HotForex)
Overall Rating USD 5 FCA, FSA, FSCA, DFSA, CySEC, FSC 📱 Platfoms MT4, MT5 ₿ Crypto No 💵 Account Currency USD, ZAR, USD, NGN Yes 1:1000 🛒 Instruments Forex, Metals, Energies, Indices, Shares, Commodities, Bonds, Stocks, ETFs 🏛️ Visit Broker
4.2/5
Minimum Deposit
Regulators
Islamic Account
Leverage
HFM was founded in 2008 as an ECN and STP broker, and is regulated by FCA, FSA, FSCA, and DFSA.
HFM charges no account fees, and withdrawals and deposits are free of charge.
The web trading platform provides traders with 38 indicators that can be customized, a built-in economic calendar, access to trading history and 100 charts.
Traders can stay updated with advanced market insights and Forex news streams, and HFM is also CopyTrader-friendly.
HFM Pros and Cons:
| ✔️Pros | ❌Cons |
| 5 account types offered | Trading fees are high |
| Highly regulated | Penalty fees for inactivity |
| 18 trading tools provided | |
| Negative Balance Protection |
ActivTrades
USD 500 FCA, CBS 📱 Platforms MT4, MT5, ActivTrader ₿ Crypto Yes 💵 Account Currency EUR, USD, GBP, CHF Yes 1:30 🛒 Instruments Indices, Forex, Commodities, Crypto, Shares 🏛️ Visit BrokerMinimum Deposit Regulators Islamic Account Leverage
ActivTrades is an award-winning broker that was founded in 2001.
ActivTrades offers cashback rewards and a referral program.
ActivTrades Customer support is available 24 hours a day in 14 languages.
ActivTrades Pros and Cons:
| ✔️Pros | ❌Cons |
| Trading bonuses | No USA clients |
| Automated trading allowed | High minimum deposit |
| No requotes | |
| Plenty of trading tools |
FX Primus
Overall Rating USD 0 CySEC, VFSC 📱 Platforms MetaTrader 4, MetaTrader 5 ₿ Crypto Yes 💵 Account Currency USD, EUR, GBP, SGD, PLN Yes 1:1000 🛒 Instruments Forex, Metals, Energies, Equities, Cryptocurrencies, Indices, Futures 🏛️ Visit Broker
4.1/5
Minimum Deposit Regulators Islamic Account Leverage
FXPrimus has more than 300,000 clients and was founded in 2009.
FXPrimus offers 4 types of trading accounts.
FXPrimus only accepts credit cards that are issued outside of the USA.
Fees are covered by FXPrimus and transactions will be processed within 5 minutes.
There is a minimum withdrawal amount of $100 but there is no minimum deposit amount.
FXPrimus Pros and Cons:
| ✔️Pros | ❌Cons |
| Spreads starting at 0pips | No USA clients |
| 4 account types | No USA credit cards |
| Negative balance protection | |
| VPS available |
FXCM
Overall Rating USD 50 ASIC, FCA, FSCA 📱 Platforms Trading Station, MT4, NinjaTrader, ZuluTrade, Capitalise AI, TradingView ₿ Crypto Yes 💵 Account Currency EUR, USD, GBP, CHF Yes 1:200 🛒 Instruments Forex, Shares, Indices, Crypto, Commodities 🏛️ Visit Broker
4.6/5
Minimum Deposit Regulators Islamic Account Leverage
FXCM was established in 1999 as a CFD and Forex broker, and is regulated by the FCA, ASIC, and the FSCA.
Despite the seemingly limited product offering, FXCM provides flexible ways of trading, multi-platform compatibility and supports algorithmic trading.
Traders can choose from several popular trading platforms, including Trading Station, MetaTrader 4, NinjaTrader, ZuluTrade, TradingView and Capitalise AI.
FXCM offers in-depth research material that can be used with advanced tools, such as market scanners, trading signals, live Forex charts, heat maps and tools for tracking market volatility.
FXCM Pros and Cons:
| ✔️Pros | ❌Cons |
| Great selection of technical research tools | Bank withdrawal fees are high |
| Comprehensive educational resources | Limited product offering |
| Rebate and Referral Program | Penalty fee for one year of inactivity |
| Allows Copy Trading |
AvaTrade
USD 100 MiFID, FSA, ASIC, BVI, FFAJ, FSCA, ADMG, FRSA 📱 Platforms MetaTrader 4, MetaTrader 5 ₿ Crypto Yes 💵 Account Currency AUD, EUR, USD, GBP, CHF Yes 1:400 🛒 Instruments Forex, Bonds, Stocks, Commodities, ETFs, Indices, Crypto 🏛️ Visit BrokerMinimum Deposit Regulators Islamic Account Leverage
AvaTrade was founded in 2006 and has more than 300,000 clients.
AvaTrade offers 4 account types and a minimum deposit of $100 is required.
You can fund your AvaTrade account using CHF, USD, AUD, GBP or EUR.
AvaTrade is a great option for beginners and provides plenty of educational resources.
AvaTrade Pros and Cons:
| ✔️Pros | ❌Cons |
| Multiple accounts | No USA clients |
| Free deposits and withdrawals | |
| 5+ regulations | |
| MT4 and 5 support |
XTB
Overall Rating USD 0 FCA, KNF, CySEC, IFSC 📱 Platforms xStation 5 ₿ Crypto Yes 💵 Account Currency EUR, USD, GBP, HUF Yes 📊 Leverage 1:500 🛒 Instruments 2,100+ Forex, Commodities, Indices, Crypto, Stocks, ETFs, CFDs 🏛️ Visit Broker
4.1/5
Minimum Deposit Regulators Islamic Account
XTB is regulated by KNF, IFSC, CySEC and FCA and has more than 400,000 clients.
This broker was founded in 2002 and offers more than 2,000 Indices, Stocks, Cryptocurrencies, Forex pairs, ETFs, CFDs and Commodities.
XTB provides plenty of educational resources and is a great option for beginners.
XTB Pros and Cons:
| ✔️Pros | ❌Cons |
| No minimum deposit | Inactivity fees |
| CySEC-regulated | No MT4 or 5 |
| Beginner-friendly | 1 account currency |
| 400,000+ clients |
FXTM
Overall Rating USD 10 CySEC, FCA, FSC 📱 Platforms MT4, MT5, FXTM Trader ₿ Crypto No 💵 Account Currency USD, EUR, GBP, NGN Yes 1:2000 🛒 Instruments Metals, Stocks, CFDs, Indices, Forex, Commodities 🏛️ Visit Broker
4.1/5
Minimum Deposit Regulators Islamic Account Leverage
FXTM is a globally regulated and licensed broker with more than 2 million international clients, 800 multilingual employees, and over 5,000 traders you can copy.
Free educational resources are provided and FXTM is fully compatible with MetaTrader 4 and 5.
New clients can benefit from the referral program, and experienced traders can become Strategy Managers and earn commissions on the profits of traders who copy them.
FXTM hosts competitions and contests on a regular basis and guarantees that your funds will be protected.
FXTM has received multiple awards since its inception and is involved with several projects to support athletes, such as the UN Patron of the Oceans and the FXTm Basejump Project.
Traders can choose from three flexible accounts with zero commission or very low commission, tight spreads and a variety of trading instruments.
FXTM Pros and Cons:
| ✔️Pros | ❌Cons |
| Low spreads offered | US traders not accepted |
| Low minimum deposit | Penalty fees for inactivity |
| Highly regulated | Withdrawals are not free |
| Offers PAMM accounts, CopyTrading and Managed accounts |
Plus500
Overall Rating USD 100 FCA, CySEC, ASIC, FMA 📱 Platforms Plus500 app ₿ Crypto Yes 💵 Account Currency USD, GBP, EUR, CHF, AUD, JPY, PLN, HUF, CZK, CAD, TRY, SEK, NOK, SGD Yes 📊 Leverage 1:300 🛒 Instruments Forex, Indices, Cryptocurrency, Commodities, Shares, Options, ETFs 🏛️ Visit Broker
4.7/5
Minimum Deposit Regulators Islamic Account
Plus500 was founded in 2008 and has more than 400,000 clients.
Plus500 is regulated by ASIC, FMA, FCA and CySEC and offers a wide range of Forex pairs, Commodities, Shares, Options, Cryptocurrencies, Indices and ETFs.
We recommend Plus500 for beginners because educational resources are provided.
Plus500 Pros and Cons:
| ✔️Pros | ❌Cons |
| Beginner-friendly | No MetaTrader |
| Negative Balance Protection | Inactivity fees |
| 10+ account currencies | No USA clients |
| Tier-1 regulations |
XM
Overall Rating USD 5 ESMA, CySEC, ASIC, FCA, IFSC, DFSA 📱 Platforms Desktop MT4 and MT5, Mobile MT4 and MT5, XM mobile app, Web platform ₿ Crypto No 💵 Account Currency USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB Yes 1:1000 🛒 Instruments Commodities, Forex, Stocks, Crypto, Metals, Shares, Energies 🏛️ Visit Broker
4.1/5
Minimum Deposit Regulators Islamic Account Leverage
Since its establishment in 2009, XM has grown their customer base to an astonishing 3,000,000 traders!
XM received the City of Wealth Management Awards in 2020 for being the Best Forex Service Provider.
XM has high credibility in the forex arena and they attract both amateur and experienced traders with their wide selection of marketing and training resources.
The new user registration duration is completed within seconds and customer technical support can effectively resolve queries and provide assistance.
XM Pros and Cons:
| ✔️Pros | ❌Cons |
| No requotes | No active trader program |
| Negative Balance Protection | Inactivity fees |
| Massive client base | No USA clients |
| Trading bonuses |
eToro
Overall Rating USD 50 FCA, CySEC, ASIC 📱 Platforms eToro app, OpenBook, eToro CopyTrade ₿ Crypto Yes 💵 Account Currency USD, AUD, CNY, CAD, GBP, EUR, JPY, RUB Yes 1:30 🛒 Instruments Stocks, Commodities, Indices, Forex, ETFs, Cryptocurrencies 🏛️ Visit Broker
4.2/5
Minimum Deposit Regulators Islamic Account Leverage
More than 3 million trades have been opened on eToro since 2007, and an average yearly profit of 83,7% is reported for CopyTraders.
eToro is regulated by FCA and CySEC, and caters to Social and Copy traders alike, with many useful tools and features for experts and beginners.
eToro is a popular Stocks broker, offering opportunities to invest in companies like Amazon, AMD, Google, Nvidia and Tesla.
eToro Pros and Cons:
| ✔️Pros | ❌Cons |
| Supports CopyTrading | Difficult to find detailed account information |
| Supports Social trading | Forex fees are high |
| Flexible leverage | Withdrawal fee of $5 |
| Free stock and ETF trading in EU |
ForexMart
Overall Rating USD 15 SVGFSA 📱 Platforms MT4 ₿ Crypto Yes 💵 Account Currency EUR, GBP, USD Yes 1:500 🛒 Instruments Crypto, Energies, Indices, Spot Metals, Forex, CFDs 🏛️ Visit Broker
2.9/5
Minimum Deposit Regulators Islamic Account Leverage
ForexMart was founded in 2015 and is a beginner-friendly social trading broker.
ForexMart offers tight spreads and a wide range of trading tools and research material.
ForexMart’s customer support team is available via email, telephone and live chat.
ForexMart Pros and Cons:
| ✔️Pros | ❌Cons |
| Low minimum deposit | No trading bonus |
| Negative Balance Protection | Deposits and withdrawal fees |
| Commission-free trading | |
| No inactivity fees |
easyMarkets
Overall Rating USD 25 CySEC, ASIC, FSA 📱 Platforms MT4, TradingView, easyMarkets app ₿ Crypto Yes 💵 Account Currency EUR, CAD, CZK, JPY, NZD, USD, SGD, CHF, GBP, MXN, AUD, PLN, TRY, CNY, HKD, NOK, SEK, ZAR, BTC Yes 1:400 🛒 Instruments Forex, Shares, Crypto, Metals, Commodities, Indices 🏛️ Visit Broker
4.8/5
Minimum Deposit Regulators Islamic Account Leverage
easyMarkets is a regulated CFD and Forex broker that facilitates the trading of Shares, Cryptocurrencies, indices, Shares, Forex and Commodities.
The easyMarkets platform is beginner-friendly and easy to use for all levels of traders.
Financial calendars and news headlines are updated continuously.
New traders can also use the free educational resources provided by easyMarkets and experiment with a demo account.
easyMarkets Pros and Cons:
| ✔️Pros | ❌Cons |
| Guaranteed Stop loss | Fixed spreads from 1 pip |
| Fixed spread account | No variable spread accounts |
| Commission-free trading | Platform is difficult to navigate |
| Highly regulated | MT4 not compatible with Deal Cancellation |
| Negative Balance Protection offered |
NAGA
Overall Rating USD 0 CySEC 📱 Platforms MT4, MT5, NAGA apps ₿ Crypto Yes 💵 Account Currency GBP, USD, EUR, PLN Yes 1:30 🛒 Instruments CFDs on Stocks, Forex, Stock CFDs, Crypto, Indices, Commodities, Futures, ETFs 🏛️ Visit Broker
4.2/5
Minimum Deposit Regulators Islamic Account Leverage
NAGA is a Forex and CFD Forex broker that also focuses on copy trading and offers free education for beginners.
NAGA is compatible with MetaTrader 4 and 5, and provides its proprietary desktop and mobile platforms as an alternative option for traders who would like to try something new.
NAGA offers a professional account for more experienced traders and a standard account for intermediate traders, along with a demo account for new traders.
The Naga trading accounts can be funded using USD, GBP, PLN, CHF and EUR and what makes NAGA unique is that instead of offering many account types, traders can level up their accounts in tiers for exclusive benefits.
NAGA Pros and Cons:
| ✔️Pros | ❌Cons |
| Compatible with MetaTrader platforms | Penalty fee charged for inactivity |
| 5 base currencies supported | Not available to US citizens |
| Educational resources provided | |
| Innovative account tier system |
IC Markets
Overall Rating USD 200 FSA, CySEC, ASIC 📱 Platforms MT4, MT5, cTrader ₿ Crypto Yes 💵 Account Currency AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, HKD, CHF Yes 1:500 🛒 Instruments Stocks, Commodities, Indices, Forex, Bonds, Crypto, Futures 🏛️ Visit Broker
4.8/5
Minimum Deposit Regulators Islamic Account Leverage
IC Markets is a reliable broker and accounts can be funded with several base currencies, including JPY, AUD, SGD, CAD, USD and more.
A minimum initial deposit of 200 USD is required to start trading with IC Markets and there are 3 accounts to choose from.
Tight spreads are guaranteed with this broker and it is a suitable option for inexperienced traders.
IC Markets Pros and Cons:
| ✔️Pros | ❌Cons |
| Beginner-friendly | No US citizens |
| VPS services | High minimum deposit |
| Many base currencies |
Trading 212
Overall Rating USD 1 FCA, CySEC, FSC 📱 Platforms Trading212 mobile and web apps ₿ Crypto No 💵 Account Currency USD, EUR, GBP No 1:300 🛒 Instruments Stocks, Indices, Commodities, Forex 🏛️ Visit Broker
3.2/5
Minimum Deposit Regulators Islamic Account Leverage
This broker is regulated by FCA, FSC and CySEC, and offers its own proprietary trading platform.
Trading 212 clients can choose from 2 types of accounts and 24/7 customer support is provided.
This broker is suitable for CFD and stock traders, with more than 13,000 tradable instruments combined.
Trading 212 Pros and Cons:
| ✔️Pros | ❌Cons |
| 180+ FX pairs | 3 base currencies |
| Low minimum deposit | No USA clients |
| 1mil+ clients | No swap-free accounts |
| No withdrawal or deposit fees on CFD account |
Conclusion
Skrill offers a secure, efficient and low-cost alternative to making online payments using traditional methods. It also keeps your sensitive bank account information off the internet.
Skrill users benefit from loyalty rewards, lower transfer fees, cashback rewards and much more. It is one of the most widely accepted payment methods on thousands of websites and is 100% legit.
We hope that this review of the 15 Best Skrill Forex Brokers will help you find a broker that aligns with your trading goals so that you can trade with confidence.
Good luck with your trading!
FAQ
What is Skrill?
Skrill is a digital payment system that can be used to make secure online payments.
How does Skrill work?
Skrill lets you deposit funds into a digital wallet that can be used to make payments directly from the wallet instead of using your bank account details.
What is Knect?
Knect is Skrill’s loyalty program that rewards users with redeemable bonuses for completing tasks.
Can I buy and sell Crypto on Skrill?
Yes, the Skrill app can be used to instantly buy and sell cryptocurrencies.
Is Skrill available in multiple languages?
Yes, Skrill’s website and app can be viewed in multiple languages, including Italian, Indian, Spanish and several others.
Does Skrill offer discounts on fees?
Yes, your transfer fees can be discounted by participating in the loyalty program.
Does Skrill have a debit card?
Yes, Skrill’s debit card can be used to deposit money into your Skrill account and to make payments anywhere Visa is accepted.
Is Skrill safe?
Yes, we believe Skrill is safe. It is one of the most popular payment apps in the world and is accepted by thousands of merchants and online brokers globally.
