Skrill Binary Options Brokers

Skrill is an electronic wallet and online payment system that provides binary options traders with fast money transfers, a cryptocurrency wallet that supports multiple tokens, and a reloadable prepaid Mastercard. It is a quick and reliable method for funding binary trading accounts.

This guide will answer all your questions about using Skrill for binary trading, including how to make deposits and request withdrawals, security and legitimacy, transfer speeds and payment timelines.

We have also compiled a list of the best binary options brokers that accept Skrill deposits. We verified each platform allows Skrill deposits either by finding it in their cashier portal or confirming with customer support. We then sorted providers by their overall ratings, assigned after our hands-on tests.

Binary Brokers with Skrill

List of Binary Options Brokers that Accept Skrill

	Broker		Min Deposit	Expiry Times
	AZAforex		$1	30 seconds - 1 day	» Visit
	Dukascopy		$100	3 minutes - 1 day	» Visit
	Deriv		$5	15 seconds - 365 days
	IQ Option		$10	60 seconds - 1 month
	OlympTrade		$10	5 seconds - 23 hours
	ExpertOption		$10	5 seconds - 24 hours
	Binomo		$10	1 minute - 60 minutes

Best Binary Options Brokers

Top Broker Visit

About Skrill

The London-based Skrill began its life in 2001 as Moneybookers, a digital wallet provider. The payment service expanded in scope and functionality over the next few years, earning its place as one of Europe’s top e-payment companies in 2007, before rebranding as Skrill in 2013.

In the following years, Skrill changed hands several times, with digital wallet Neteller’s parent company Optimal Payments acquiring it in a 1.1 billion euro deal in 2015.

As the payment company’s size and customer base continued to grow, it also expanded its range of services, launching its international money transfer service and cryptocurrency e-wallet in 2018.

Skrill is available in many countries, and particularly popular in Europe and the UK. It supports a wide range of fiat currencies and cryptocurrencies, and offers an on-board currency conversion service, making it a good option for binary options traders who value flexibility in their transfers.

How Skrill Works

Skrill’s pricing and the services on offer depend on the account holder’s “level”.

This starts at the most basic Skriller when you sign up, upgrades to True Skriller once the account has been verified and a deposit made, and then moves to one of three VIP levels if a sufficient value of transactions goes through in a single quarter.

The higher account levels come with lower fees and more benefits, such as the chance to hold accounts in different currencies. The lowest VIP level, silver, requires 15,000 euros in transactions in one quarter.

Accounts can be funded in various ways, including bank transfers, with a debit or credit card, or through online payment services.

Each method has differing fees, starting from 0%, and the same is true of the different methods Skrill offers for making withdrawals and transfers. And, since the firm includes cryptocurrency support, you can buy and sell crypto within Skrill (availability varies) and convert crypto to your wallet balance.

Finally, the company offers a prepaid Mastercard to account holders in authorized countries in the European Economic Area and UK, and this can be loaded with funds and spent where Mastercard is accepted, including at binary options platforms.

One of the main advantages of Skrill is its zero transaction fee for sending money to an international bank account via Skrill Money Transfer when funded by bank transfer. Foreign exchange conversion costs can still apply, with Skrill using an international transfer exchange-rate markup of up to 4.99%, with a reference rate set by Skrill plus a 3.99% fee for currency conversion in general.

As a fairly secure, reputable and established service, the company has gained a large customer base and, as a result, it is not difficult to find binary options brokers that accept Skrill deposits.

Since Skrill account holders should be able to make zero-fee transfers to supported vendors, this is another advantage when it comes to funding your binary options trading account.

Transaction Times

The firm offers rapid transfer times and with many Skrill binary options brokers, your transaction should go through instantly.

Since the firm is an e-wallet in which payments are settled digitally, deposits should go through shortly after you complete the payment process on a broker’s website.

However, since it is common for binary options brokers that accept Skrill to have a longer period to approve withdrawals, often due to KYC/AML requirements, these may take longer, and occasionally you will need to wait several working days to see the money in your account.

You can check estimated transaction times by visiting your binary broker’s website or contacting their support teams.

Pricing Review

Thanks to its zero-fee international money transfer service, Skrill can be an affordable way to move money to and from a binary options broker. However, there are a number of other fees to consider, and these can add up if certain transaction methods are not available to you.

Deposits via most methods will incur varying charges:

• Debit/credit card: Up to 1.25%
• Fast Bank Transfer/Rapid Transfer: Up to 1%
• Trustly: Up to 1.25%
• Paysafe cash: Up to 2.5%
• Paysafe card: Up to 5%

Skrill charges varying fees for withdrawal methods:

• Bank Transfer: 1.75% (minimum 3.50 euros)
• Swift: 1.75% (minimum 3.50 euros). Varies by country.
• Neteller: 3.49%
• Visa/Mastercard: Up to 3.99%
• Crypto Withdrawals: 1.5% (separate Skrill Crypto Withdrawals via a merchant may be 0.00%)

Other fees include a 2.99% Skrill-to-Skrill money transfer charge, which drops to 1.45% for verified accounts. The firm also charges a general 3.99% foreign exchange fee and 1.5% for currency conversions made using the Skrill Cryptocurrency Service that is not denominated in euros.

Another important fee to remember is a monthly 5-euro cost that will be charged to accounts which remain inactive for more than 6 months.

Fees and available methods vary by country – check Skrill’s fee page for your region.

Security

Skrill is an established company that has all the security features you would expect from a reputable financial services brand.

Account holders with registered and verified mobile phone numbers will receive authentication codes via SMS when making transactions, and binary traders can also benefit from two-factor authentication.

Additionally, the company follows standard security measures to reduce the risk of phishing scams and will never send customers any communications asking for sensitive information like passwords, PINs, and 2FA codes.

However, since payments to personal accounts are final and irreversible, the firm will not be able to intervene if you have any complaints about such transactions, so you should be particularly careful about sending money in this manner.

The brand offers a range of customer support options, including an email contact that promises responses within 48 hours, a contact number that is available during working hours, and a chatbot.

A 24/7 live chat support option may also be available to binary traders who move a lot of money through Skrill and have signed up for the VIP service.

Regulation

The regulations below apply to Skrill as a payment service provider, which demonstrate it’s a legitimate electronic payment service, but they do not mean the binary options broker you deposit to is licensed in your country.

Regulatory details for Skrill (Paysafe) entities include:

• FCA (UK) – Skrill Limited: authorized as an Electronic Money Institution (FRN 900001)
• Central Bank of Ireland – Paysafe Payment Solutions Limited (trading as Skrill): regulated as an electronic money institution
  (C184986)
• Canada registrations (AML/CTF) – Skrill Limited/Paysafe entities are listed as registered with FINTRAC as a Foreign Money Services Business and as a Money Services Business with Revenu Québec. FINTRAC registry information: FINTRAC MSB Registry
• United States (money transmitter/MSB) – Skrill USA, Inc. is registered with FinCEN and licensed as a money transmitter in various U.S. states (Paysafe regulatory disclosures (US))

Skrill’s cryptocurrency features may be subject to additional terms and may not be regulated the same way as its e-money/payment services.

Pros Of Using Skrill For Binary Trading

• Accepted by a range of binary brokers
• Free to make certain transfers and to receive funds
• Most methods for funding Skrill accounts are low-cost
• Access to a large range of currencies and cryptocurrencies
• Can be used for a broad range of payments besides binary options trading
• Near-instant deposits with registered Skrill binary options brokers
• Reputable service with good security

Cons Of Using Skrill For Binary Trading

• Currency conversion fees for non-euro accounts
• Some funding methods are expensive
• Lacks reward bonuses such as free money vouchers or cashback
• Monthly inactivity fee for accounts that remain idle for 6 months
• A high volume of transactions is required to unlock the full features of VIP status
• It is often easier to use debit or credit cards than to find binary options brokers that accept Skrill
• Crypto On-Ramp is not available for UK account holders

How To Make Skrill Deposits & Withdrawals To Binary Options Brokers

If your binary options broker is registered with Skrill, making deposits and withdrawals is a simple process. Most online brokers that accept this payment method will display the purple logo on their website.

To deposit money with Skrill binary options brokers, simply go to their “finance” or “cashier” tab and enter the amount of cash you want to send. You can also usually choose any deposit bonuses your binary options broker offers at this stage.

When you select Skrill as your payment type and click to deposit funds, you should be taken to a login page. Once you have input your sign-in details and accepted the transfer, the money should arrive in your binary options brokerage account nearly instantly.

Withdrawing funds follows a similar process, with traders first entering the amount they wish to withdraw on their binary broker’s “cashier” or similar page, then selecting Skrill from the list. You may also need to input the email address registered with the payment brand.

Note that while deposits are usually instant, withdrawals can take several days to be approved by Skrill binary brokers.

Bottom Line

Skrill is a payment option for binary options traders that is fast, affordable and secure, and it offers a range of other services besides money transfers. Account holders benefit from access to various currencies and cryptocurrencies through their membership, and in some cases, they can send and receive money for no fees and even convert currency at a good rate.

Additionally, the brand’s popularity means it has been adopted widely, and you can find many binary options brokers that accept Skrill deposits.

See our list of the best Skrill binary options brokers to start trading today.

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