CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
What is Skrill?
Skrill is a digital wallet service that enables users to send, receive, and store funds electronically. Originally launched in 2001 as Moneybookers, the brand rebranded to Skrill in 2013. It operates in over 100 countries, supports 40+ currencies, and is regulated by both the U.K.’s Financial Conduct Authority (FCA) and, in some jurisdictions, the Central Bank of Ireland.
In forex trading, Skrill offers a fast, flexible way to move money without relying on traditional banks. Traders can link cards or bank accounts to Skrill, then use the wallet to fund broker accounts or withdraw profits. Transactions are usually processed in minutes.
Skrill also supports prepaid cards, crypto transactions, and local payment gateways, making it highly versatile.
lightbulbDid you know?
Skrill is owned by Paysafe Group, the same parent company behind Neteller and Paysafecard. This gives it an edge in integrations with forex brokers, especially in emerging markets.
Why do forex traders use Skrill?
Forex traders favor Skrill for its blend of speed, accessibility, and convenience. Deposits into broker accounts are typically instant. Withdrawals, while sometimes subject to internal broker processing, are often completed within 24 hours, and in many cases, faster.
Skrill is especially popular among traders in regions where banking infrastructure is limited or cross-border card transactions are restricted.
Another key benefit is account privacy. Using Skrill eliminates the need to share card or bank details with brokers.
Skrill also offers loyalty incentives like VIP status for high-volume users, which can reduce fees and unlock added features.
Is Skrill a safe payment method for forex trading?
Yes, Skrill is considered secure and is regulated as a licensed financial service provider in Europe. It uses strong encryption, account verification protocols, and two-factor authentication to safeguard user data and funds.
Skrill is also registered with the U.K.'s FCA for its crypto-asset services, which means its compliance standards extend into digital asset transactions. Still, users should note that crypto exposure carries separate risks and regulatory nuances.
The biggest risk isn't with Skrill itself, but with the brokers a trader chooses. If a broker is unlicensed or offshore, Skrill's security won't protect funds after they’ve been deposited.
Also worth mentioning: Skrill accounts that remain inactive for over six months incur a £5 monthly inactivity fee.
Skrill requires full verification before lifting funding limits. Unverified accounts may face delayed transfers or blocked withdrawals, so always complete ID verification early.
How does Skrill compare to other funding options?
Compared to bank transfers, Skrill is lightning fast. Wires can take up to 3–5 days, while Skrill transactions are processed within minutes. Compared to credit cards, Skrill offers better control and broader global access, especially in regions where cards aren’t reliable or widely used.
When put next to other e-wallets like Neteller, Skrill stands its ground. Both are owned by the same parent company, but Skrill tends to offer a more straightforward interface and lower usage thresholds.
Skrill also supports crypto and local payment systems, giving it the flexibility that most wallets can’t match.
local_activityLocal integrations
Skrill integrates with local payment methods like Sofort, Rapid Transfer, and Trustly in various countries, making it easier to fund accounts without international card fees.
What fees should you expect when using Skrill for forex?
Skrill is fast and flexible, but not free.
Depositing into Skrill via credit or debit card usually incurs a fee of 1.9% to 2.5%. Bank transfers into Skrill may be free, but are significantly slower.
When transferring funds to a forex broker, many brokers waive deposit fees, but not all. For withdrawals, Skrill typically charges a fixed fee (about €5.50) or a percentage, depending on method and region.
Currency conversion is one of the more overlooked costs. Skrill applies a foreign exchange margin of 3.99% above the mid-market rate when converting between currencies.
There’s also the inactivity fee: if a Skrill account remains unused for six months, a £5 monthly charge kicks in.
manage_searchHidden costs
Some brokers only allow Skrill deposits in USD or EUR, even if your Skrill balance is in another currency. This triggers automatic conversion with a 3.99% markup, without warning.
What makes a broker Skrill-friendly?
A Skrill-friendly broker integrates it fully. That means fast, seamless deposits and withdrawals, transparent fee policies, and currency compatibility with Skrill wallets.
Speed is key. Deposits should be instant, and withdrawals ideally processed within 24 hours.
Cost transparency matters too. A good broker won’t charge hidden Skrill fees and will clearly explain any transfer or processing charges.
Support is also telling. A broker that truly supports Skrill will have a team that can answer wallet-specific questions without deferring or dodging.
checklistSkrill broker checklist
- Offers both deposit and withdrawal via Skrill
- Covers Skrill transaction fees or clearly discloses them
- Provides 24-hour or faster withdrawal processing
- Supports your Skrill wallet’s base currency
How to choose the best Skrill forex broker in 2025
Choosing the right Skrill broker in 2025 starts with regulation. Brokers licensed by respected authorities like the FCA (UK), CySEC (Cyprus), or ASIC (Australia) are far more trustworthy than offshore outfits.
Next, verify whether Skrill is fully supported. This includes both deposits and withdrawals. Some brokers list Skrill for deposits only or apply different fees depending on direction.
Make sure the trading account currency matches your Skrill wallet, where possible. That helps avoid Skrill’s 3.99% FX markup.
Also, check user feedback. Delayed Skrill withdrawals, surprise fees, or account freezes are common red flags mentioned in community reviews.
insightsTrader insight
Some brokers advertise Skrill support but restrict it by region. Always confirm Skrill availability for your country before signing up.
A top-tier Skrill broker in 2025 offers licensing, low fees, speed, and a smooth funding experience, qualities that serve both beginner and experienced traders.
BrokerNotes.co 2025 Overall Rankings
To recap, here are our top forex brokers for 2025, sorted by Overall ranking.
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Methodology
At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.
Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.
Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.
About the Editorial Team
Founded in 2014 and acquired in 2021, BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. With over 60 brokers reviewed, our editorial team has published thousands of words of research to help our readers make informed choices.
Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.
Hannah Smith is a Staff Editor at BrokerNotes.co. With a background in SEO and years of experience in digital media, Hannah is focused on creating high-quality, data-driven content that helps investors make informed decisions. With a master's degree in English from North Carolina State University, she brings a strong foundation in writing, research, and editorial strategy to her work.
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