FXCM
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74-89% of retail CFD accounts lose money.

Vs.

Skilling
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FXCM Vs. Skilling - Compare and Choose the Right One

Updated May 13 2022

Visit

74-89% of retail CFD accounts lose money.

Visit

Your Capital is at risk.

Overview

FXCM is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering.

Skilling is a multi-platform global broker founded in 2016 that specialises in CFD trading over several asset classes.

Best For
  • Professional algorithmic traders looking to benefit from their comprehensive API offering 
  • Forex traders who want relatively straightforward, intuitive platforms with low commissions
  • Beginner traders who need assistance implementing first trades
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

2

Other Licenses

2

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

0

Other Licenses

2

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • ASIC (Australia)
  • CySec (Cyprus)
  • FCA (United Kingdom)
  • FSCA (South Africa)
  • CySec (Cyprus)
  • FSAS (Seychelles)
The Good
  • Comprehensive API offering with a variety of conditions and programming languages at no additional cost
  • Proprietary platform (Trading Station)
  • Multiple intuitive platforms for traders with different levels of experience
  • Several payment methods for deposits and withdrawals
  • No commission for standard accounts
  • Trade Assistant tool is great for beginners opening their first trade
The Bad
  • Lack of asset variety in their offering (over 300+ financial instruments)
  • Costly spreads when compared to similar competitors
  • Doesn’t allow deleveragred trading or customizable leverage
  • Charges commission on forex and spot metal trading for premium accounts 
  • Asset offering is not that comprehensive
Status
Operational Operational
Recent News
N/A N/A
Key Data
⌛ Account Opening Time
1 Day 1 Day
📋 Documents Required
  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

  • Valid identity documents (Passport, ID card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder’s name.

📍 Year Founded
1999 (FXCM Group) 2016
💳 Minimum Deposit
€, £, $ - 50 (Varies by payment method) $, €, £ - 100 (Standard, MT4), 5,000 (Premium, MT4 Premium)
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • Skrill

Skrill and Neteller are not available to FXCM EU clients at the moment

  • Visa
  • Mastercard
  • Fasapay
  • Webmoney
  • PayRetailers
  • PayTrust
  • Pagsmile
  • Directa
  • NganLuong.vn
  • UnionPay
  • Skrill
  • Neteller
  • Bank Transfer
💵 Account Base Currencies
4 - EUR GBP, USD, CHF. 5 - EUR, USD, GBP, NOK, SEK.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries
RU, US, CA, JP, SK and more. US, SY, IR.
📊 STP Account
No Yes - depending on product traded, available liquidity and trade size
📊 DMA Account
No No
📊 ECN Account
No No
Assets
📚 Available Assets

CFDs on stocks, currencies, commodities, cryptocurrencies and indices

CFDs on stocks, currencies, commodities, cryptocurrencies, indices and ETFs

📙 Stocks
200+ 762
📘 Currency Pairs
39 73
📗 Commodities
11 6
📕 Indices
15 18
📔 ETFs
N/A 45
💸 Cryptocurrencies

6 (Cryptocurrencies CFDs are not available to retail clients residing in the UK)

34
📒 Bonds
N/A N/A
📓 Options
N/A N/A
📗 Futures
N/A N/A
📝 Notes:
All of FXCM's assets are CFDs.

All of Skilling’s assets are CFDs

Trading Experience
📈 Minimum Stock Trade Size
1 share Varies per share - From 0.1 shares (Fractional trading)
📉 Minimum ETFs Trade Size
N/A Varies per ETF (Eg: VanEck Gold Miners 0.1 unit, XLK 1 unit)
📈 Minimum Crypto Trade Size
1 unit of any cryptocurrency Varies per Cryptocurrency (Eg: 0.01 BTC, 0.5 LTC)
📉 Minimum FX Trade Size
$1000 (0.01 Lots) $1,000 (0.01 Lots)
📈 Minimum Commodities Trade Size
Varies by Commodity (Eg: 1 Troy ounce of Gold) Varies per commodity (eg: Gold 0.1 contracts, Silver 10 contracts)
📉 Minimum Bonds Trade Size
N/A N/A
📈 Minimum Futures Trade Size
N/A N/A
📉 Minimum Options Trade Size
N/A N/A
💪 Retail Leverage
Up to 1:30 Up to 1:30
💪 Professional Leverage
Up to 1:500 (Varies) Up to 1:500
✍ Customisable Leverage
No No
🎲 Deleveraged Trading
No No
🎓 Demo Account
Yes Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
Yes Yes
📺 MetaTrader 5
No No
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes Yes
💻 Proprietary Platform
Yes Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
Yes Yes
👫 Social Trading
Yes No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
Yes Yes, for cTrader, MT4 and MT4 Premium accounts
Fees
💰 Inactivity Fee

50 units of the account's base currency yearly after 1 year of inactivity.

No
💰 Deposit Fees
No No
💰 Withdrawal Fees

Yes on bank transfer withdrawals depending on location (from $10 to $40 on local currency).

No
💰 Commissions
No

Skilling charges commission on its forex pairs and spot metals for its premium account. The commission starts from $35 per million USD traded (eg: EUR/USD $35, GBP/USD $40 and Gold $60)

Spreads
📈 EUR/USD
From 1.2 Pips (As per our research) Dynamic - From 0 to 1.3 Pips
📉 SP500
Dynamic - From 58 Pips (As per our research) Dynamic - From 120 Pips
📈 GOLD
Dynamic - From 41 Pips (As per our research) Dynamic - From 36 Pips
📉 TSLA (Stock CFD)
Dynamic - From $1.04 (As per our research) Dynamic - From $4.62
📈 XLK (ETF - CFD)
N/A Dynamic - From $0.84
📉 BTC
Dynamic - From $51 (As per our research) Dynamic - From $131.8
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes Yes
📡 Reuters Feed
No No

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