Skrill Forex Brokers 2017

Which Trading Accounts allow you to Deposit Funds with Skrill? (formerly MoneyBookers)

skrill

Skrill provides third-party online payment processing for transactions between individuals, merchants and businesses. Formerly known as MoneyBookers, Skrill has become a leading company as the rush to fill the gap in international trade transactions between small businesses and their clients heats up.

With the advent of the internet, international trade has assumed truly global proportions. With the need to overcome the pressure on the conventional wire transfer system, provide the same speed services that credit cards offer with better security features, companies like Skrill have come on board and are thriving.

Top 3 Skrill Forex Brokers that accept Skrill Deposits in 2017:

Broker Info Bonus US Traders Open Account
AvaTrade Spread: 3 Pips
Leverage: 400:1
Minimum Deposit: $100
Demo Account: Open
%100 Welcome Bonus Visit BrokerRead Review
Varengold Bank FX Spread: 2 Pips
Leverage:
Minimum Deposit: $2500
Demo Account: No
N/A Visit BrokerRead Review
HY Markets Spread:
Leverage: 300:1
Minimum Deposit: $50
Demo Account: No
35% First Deposit Bonus! Visit BrokerRead Review

About Skrill:

One such global money transaction that Skrill has become an important provider of is the transfer of funds into and out of forex trading accounts. Many brokers have realized the need to provide more functionality in terms of speed and reliability in forex transactions, and have incorporated the services of Skrill in providing these services.

With Skrill, traders have been given better options. Transaction times have been reduced dramatically, safety of funds is better ensured due to the multi-step verification processes, and a range of transactions can be performed between traders and Skrill FX brokers.

Why is trading with Skrill FX brokers now the in-thing? It has to do with the levels of service that forex traders using these brokers can expect to have. Some of these are listed below:

a)    Skrill’s flagship product is the e-wallet service, where traders can deposit funds to the e-wallet, which is linked to the forex trading account and immediately reflects there when funds are deposited. When withdrawals are made, the funds are sent to the e-wallet from where traders can have the funds sent to their local bank accounts. In addition, more than 99 different e-payment companies such as iDEAL and GiroPay, link directly to the Skrill e-wallet, making it easy to transfer funds from these e-payment services to the e-wallet, and from there to the forex account. Withdrawals will then follow the same process in a reverse direction.

b)    Credit Card Processing: Skrill also processes card payments. So you can use your credit card directly on the Skrill platform, and use it to deposit or withdraw funds instantly.

c)     Skrill’s Prepaid Card. FX brokers have also partnered with Skrill to provide a branded MasterCard so that holders can fund accounts or withdraw funds with these cards. This is useful for those whose credit cards are not acceptable on the Moneybookers platform but still desire the exclusivity of card use on forex accounts.

Now that we have seen the importance of using Srkill FX brokers, we now go further to list some of them so that when you eventually decide to start using Skrill for your forex transfers, you easily know where to go.

Skrill and Forex in 2017

What can forex traders expect to see in terms of the use of Skrill as a payment channel in 2017?

1. Ukash Acquistion

The acquisition of Ukash by Skrill is poised to deepen the penetration of the Paysafecard. Paysafecard is a payment voucher system which enables traders to deposit certain denominations into their trading accounts without the need to enter sensitive credit card information. So traders can purchase the Paysafecard voucher on their Skrill accounts, and use the vouchers to deposit money into their forex accounts. This service has only been available in certain European countries but better geographical spread is now guaranteed with the purchase of Ukash by Skrill.

2. Skrill Bonus

Some forex brokers are now participating in a Skrill bonus program. This is a cashback program where a certain percentage of money is returned to the trader’s account for a certain volume of forex traded. The qualifying requirement is that the trader’s initial deposit must have been made with Skrill. Presently, only few brokers such as Deltastock offer this Skrill bonus.

3. Skrill 1-Tap

Online security is now a big issue and not many traders like the idea of having to enter the sensitive credit card or other banking information every time they transact on their trading platforms. It is for these traders that Skrill developed the 1-Tap technology, which allows the trader to make a deposit by simply tapping a button on the interface from any computer device once. Usually an initial transaction has to be made in full so that the Skrill platform can capture and save the trader’s details. On visiting the site the next time, the trader’s device is recognized and the trader can complete the transaction with a single tap.

We need to state here that more than 220 forex brokers are now signed up to the Skrill platform. This is an indication of just how popular this platform has become among forex brokers and traders alike. Now that we have seen the importance of using Skrill FX brokers, we now go further to list some of them so that when you eventually decide to start using Skrill for your forex transfers, you easily know where to go.

FxPro Review

FxPro has shown itself to be a market leader and has incorporated several payment options for traders including Skrill. Deposits made with Skrill will attract almost instantaneous settlement to the trader’s forex account. Withdrawals are processed within one working day. This means that a withdrawal request made in the morning is settled in the evening.

Iron FX Review

Using Skrill on IronFX comes with a 50% account opening bonus. However, traders are required to come up with at least $500 in order to deposit for the first time on Iron FX. The maximum amount that can be funded on Iron FX with Skrill is $5000. There are no fees associated with the use of Skrill on Iron FX, and deposits are processed within one hour while withdrawals are processed in one working day.

Ava Financial Ltd Review

With Ava Financial Ltd (owners of AvaFX), traders can deposit and withdraw as little as $100. Considering that the use of wire transfers requires a minimum of $500 as account capital, Skrill therefore provides a lower entry level for those who do not have much funds but still want to participate in forex trading.

Forex4you review

This is another broker that can be described as an emerging force in the market. However, using Skrill to deposit funds or to make withdrawals requires both email confirmation as well as passing through a one-time verification process. Transactions are handled between one to two working days, depending on what time of the day the request was filed.

Skrill is indeed a very great alternative for traders who want speedy transactions on a platform which is secure and a bit more immune to issues regarding identity theft.

Conclusion

We round off our update on Skrill forex brokers by stating that Skrill had frozen the accounts of certain forex brokers who were exposed in some manner to the adverse moves of the Swiss Franc following the SNB decision of January 15, 2015 to abandon the EURCHF peg of 1.2000 which had been in place for three and a half years. This move was to protect traders by ensuring that only solvent firms could receive payments. Following the readjustment of the market to the new realities, payments to some of these firms have resumed and traders are now free to enjoy the fullness of services that Skrill has to offer.

Adam

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Adam is an experienced financial trader who writes about Forex trading, binary options, technical analysis and more.

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