Compare the 3 best forex brokers that accept Skrill in 2024

This guide explains how to find the best Skrill forex brokers. Follow our simple walkthrough to make your first deposit.
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Updated: May 25, 2023
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What you’ll learn:

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  • The best Skrill forex broker for your budget
  • How to sign up and link Skrill to your forex account
  • How much Skrill deposits cost and how safe each broker is

What are the best Skrill forex brokers?

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The best forex broker that accepts Skrill is Plus500 .

Here are some more Skrill forex brokers with low fees, top security, and fast execution speeds:

1
Min. Deposit
$ 100
Best offer
User Score
9.9
Trade +2000 CFDs on Shares, Forex, Indices, Crypto, Options, Commodities & more
Unlimited risk-free Demo Account
0 commissions & attractive spreads
Start Trading
Payment Methods:
American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

How to trade currencies with a Skrill forex broker

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It takes about 10 minutes to sign up for an account with a forex broker. Skrill is a simple way to deposit the money to fund a trading account. Here’s how to get started. 

Step 1. Sign up with Plus500

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We recommend Plus500 as the best Skrill forex broker.

Create an account by supplying your email address, along with some contact details, and ID verification.

1
Min. Deposit
$ 100
Best offer
User Score
9.9
Trade +2000 CFDs on Shares, Forex, Indices, Crypto, Options, Commodities & more
Unlimited risk-free Demo Account
0 commissions & attractive spreads
Start Trading
Payment Methods:
American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Step 2. Go to the payment page on your broker’s website or app

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This is normally situated in the menu bar or sidebar navigation. Look for a ‘deposit’ or ‘bank’ button.

Step 3. Select Skrill as your preferred payment method

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Find Skrill from the drop down list of ways to transfer money. Select it to set Skrill as your default deposit and withdrawal method.

Step 4. Enter the amount you want to deposit into your forex trading account

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Decide how much you want to start with. You may be asked to log in or approve the transaction by Skrill before it goes through.

Step 5. Trade your first currency

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Search for a currency pair, such as USD/GBP or GBP/EUR, enter how much you want to spend, and execute the trade.

Sign up & start trading

Quick answers to key questions

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What is a Skrill forex broker?

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A forex broker lets you trade one foreign currency for another to take advantage of price movements of different currencies. A Skrill forex broker is a trading platform that lets you make deposits and fund your account with Skrill. 

What are the fees and commissions when using Skrill brokers?

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It depends on the broker. The difference between a broker’s buy and sell price for each currency is the main cost of trading. This cost (known as the ‘spread’) is the same regardless of how you decide to fund your account.

There may be additional fees for depositing or withdrawing funds to your Skrill account. Skrill fees can vary and are likely to be higher than using a direct bank transfer.

Spend some time researching online brokers to avoid any surprising hidden costs.

Is it safe to trade forex with Skrill?

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As long as you pick the right platform, yes. Regulated brokers provide investor protection in accordance with local financial regulations. All of our recommended brokers are regulated, but you can check by searching for its registration number with the local regulator.

The best Skrill forex brokers also offer robust encryption features that protect your data and keep forex traders secure. 

Do I need to provide ID when trading forex with a Skrill broker?

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Yes, you will need to provide identification when using a forex broker that accepts Skrill. A verification process is standard procedure for all the best brokers, as they have to comply with KYC financial regulations.

The verification process may include anything from some basic financial and personal information to a photo ID. 

Can I use MetaTrader 4 with forex brokers that accept Skrill?

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Yes. MT4 is a piece of trading software that’s popular with forex traders and available with most brokers. You can download the MetaTrader software and link it to any of your broker accounts.

The same applies to MetaTrader 5, which is simply the latest version of the software.

Do many forex brokers accept Skrill?

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Yes, most forex brokers accept Skrill. Digital e-wallets like this are usually available as a payment method. Look for the Skrill logo in the bank section to make a deposit this way.

Pros and cons of using Skrill to deposit funds

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When deciding if you should start trading forex with a Skrill broker, consider these potential benefits and drawbacks:

Pros

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  • Fast. Skrill purchases often happen within a matter of minutes. So if you already have a Skrill account, you can start trading forex online almost immediately.
  • Easy to use. Once you’ve linked your Skrill account to your forex account, buying forex with Skrill becomes a simple process, requiring only a few quick steps.
  • Low fees. Typically fees are relatively low when funding a forex trading account from your Skrill wallet.

Cons

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What to look for when trading forex with Skrill brokers

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If the forex brokers you’re considering accept Skrill, the next step is to make sure they offer  great trading service. Consider these factors when choosing a broker that accepts Skrill for online forex trading.  

  • Reasonable price spreads. A broker that offers reasonable price spreads can save you a lot of money over time, especially if you trade forex frequently.
  • Variety of forex trading options. Some of the most popular forex trading options include spread betting, futures, and contracts for difference (CFDs). Look for a broker that offers numerous different trading options if that’s a priority for you. 
  • Number of currency pairs. Some of the most commonly traded currencies on forex exchanges are the British pound (GBP), the US dollar (USD), and the Euro (EUR). However, there are many more currencies that forex brokers can help you trade, so look for a platform that offers a large number of currencies and trading pairs.
  • Security. A high level of security is essential. You do not want your financial or personal data to become vulnerable or compromised.
  • Great customer service. The best brokers offer fast, helpful, and responsive customer service – sometimes even on a 24/7 basis. That’s a big plus for beginner forex traders who may have more questions about online forex trading.
Find broker & sign up

FAQs

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What currencies can I trade with Skrill?
Are there limits to how much I can trade with Skrill?
What other payment methods can I use when trading forex?
What is forex trading?
How can I keep up with the foreign exchange market?
What currency pairs do Skrill brokers offer?
What charges are usually applied with a currency exchange?
What’s the best way for a beginner to learn about forex trading?
What is Skrill?
Who regulates forex brokers in the UK?
Who regulates forex brokers in the United States?
Who regulates forex brokers in the rest of the world?
Is trading forex with Skrill recommended for beginners?
OK, I’m ready to choose a broker


Sources & references
Risk disclaimer
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.