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Compare the best brokers to trade forex with Skrill

Looking for a convenient way to trade forex? You can trade currencies online with a Skrill forex broker.
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Updated: Sep 12, 2022
Tip: our preferred broker is, eToro: visit & create account

Skrill can be a fast and convenient way to fund your forex broker account, especially for people who already use Skrill to make everyday purchases. This guide will take you through the pros and cons, and let you know the top forex brokers that you can use that accept deposits via Skrill.

Here are the best forex brokers that accept Skrill

When searching for the best forex brokers, consider multiple factors, such as ease of use, fees, and security. We’ve compiled a list of the top forex brokers that accept Skrill as a method of payment, along with the top features offered by each one.

Most Popular
1
Min. Deposit
$ 10
Promotion
User Score
10
55+ currency pairs available
Trade on a trusted platform
24/7 support via live chats, email or phone call
Start Trading
Payment Methods:
Bitcoin, Credit Card, Debit Card, Visa
Full Regulations:
LonghornFX offers high-leverage trading on a wide variety of assets. Trading with leverage carries a degree of risk which may result in losing more than your investments. Clients should practise risk management to protect themselves from losing more than they can afford when trading with leverage.
2
Min. Deposit
$ 10
Promotion
User Score
10
Join the Social Trading revolution. Connect with other traders, discuss trading strategies, and use our patented CopyTrader
eToro is the world’s leading social trading platform, offering a wide array of tools to invest in the capital markets
Largest number of currency pairs to trade
Start Trading
Payment Methods:
Bank Transfer, Wire Transfer
Full Regulations:
CySEC, FCA
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.
3
Min. Deposit
$ 10
Promotion
User Score
9.9
Can fund with BTC
64 global companies including Netflix and Amazon
Free deposits and withdrawals
Start Trading
Payment Methods:
Bitcoin, Credit Card, Debit Card, Wire Transfer
Full Regulations:
EagleFX offers leveraged trading on a range of assets within its platform. CFD and Spot Forex trading do carry a degree of risk which may result in you losing more than your initial investment. Please ensure you fully understand the risks involved with leveraged trading and ensure this is not detrimental to your personal or institution's financial well being.

What is a Skrill forex broker?

A forex broker is a service that allows you to trade one foreign current for another. Skrill is an e-wallet platform that enables its users to make payments and money transfers online for a variety of goods and services, including forex trades. Here, we’re looking at brokers that allow you to combine both features. 

Pros and cons

When deciding if you should fund your forex account with Skrill, consider these benefits and drawbacks:

Pros

  • 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

What are the fees and commissions when using Skrill to trade currencies?

The fees and commissions that come with trading forex with Skrill aren’t high, with transactions generally costing only a couple of pounds. But you may still have to pay up though, as Forex brokers take their biggest cut in the form of the spread offered between the bid and ask prices of the currency pair that you want to trade. 

Make sure to look for forex brokers that offer smaller price spreads when trading forex online.

What to look for when trading forex with Skrill

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 your broker

Is it safe to trade forex with Skrill?

Trading forex with Skrill is usually secure. That said, do your research to ensure that the broker you select offers the highest levels of security. Look for robust encryption features that protect your personal and financial data, and also check what bodies your selected broker is regulated by. 

Our guides and reviews highlight some of the forex brokers that get the highest marks for security, and will help you make the right choice.

Do I need to provide ID I trade currencies with Skrill?

Most likely, yes. Forex brokers tend to follow KYC (Know Your Customer) guidelines. That means you may be asked to provide certain pieces of personal and financial information, as well as some form of identification.

How to fund your currency trading account with Skrill

Different forex brokers may have slightly different procedures for making trades, but most forex brokers follow a similar general framework of steps when it comes to the funding process. Once you’ve set up your Skrill account, you can start trading forex online with a Skrill broker by following these steps:

  1. Find the payments page on your forex broker’s website or app.
  2. Select Skrill as your preferred payment option.
  3. Enter your Skrill account information.
  4. Enter the amount you want to deposit into your forex trading account.
  5. Click confirm.
Sign up & fund account

FAQs

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OK, I’m ready to choose a broker
Sources & references
Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

Jonah Keri
Jonah Keri
Financial Writer
Jonah Keri was a reporter for Invezz, wrote about stocks, cryptocurrencies, and other investments. He also covered emerging technologies for private clients. He is a trader… read more.

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