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Skilling: Trade Forex & Stocks

Latest release: 1.0.50 ( 3rd October 2022 ) 🔍 Last analysed 10th October 2021 . Can't send or receive bitcoins
4.2 ★★★★★
172 ratings
50 thousand
5th May 2020

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Do your own research!

Try out searching for "lost bitcoins", "stole my money" or "scammers" together with the wallet's name, even if you think the wallet is generally trustworthy. For all the bigger wallets you will find accusations. Make sure you understand why they were made and if you are comfortable with the provider's reaction.

If you find something we should include, you can create an issue or edit this analysis yourself and create a merge request for your changes.

The Analysis 

App Description

As a user-friendly, simple and powerful CFD online trading platform, Skilling has been designed by expert traders to satisfy the needs of both beginners and advanced traders. Trade on the go, or access your account on desktop. A unique integration with cTrader, MT4, is also available.

Given this is a trading app dedicated to trading CFDs, it is highly likely to not be a wallet.

The Site

From the About Us page:

Skilling Seychelles Ltd is authorized and regulated by the Seychelles Financial Services Authority. With us you can trade over 800 forex and CFD financial instruments, including currency pairs, shares of your favourite companies, popular commodities and indices from around the world. All trades are done using forex or contract for difference.

Additionally, we found a page on Cryptocurrencies:

Quick and Easy Trading
Trading cryptocurrency with Skilling couldn’t be simpler, as you do not need direct access to the crypto exchange or to set up your own digital wallet. Trading crypto CFDs is much quicker and easier.

The App

We tried this app and registered for a Demo account. We could not find a way to access any wallets, or send and receive, as this app is intended to be used as a trading platform and not a wallet.

Verdict

You cannot send or receive bitcoins on this trading app.

(dg)

Verdict Explained

The product can't send or receive BTC.

As part of our Methodology, we ask:

No send/receive!

Can it send and receive bitcoins?

If the answer is "no", we mark it as "Can't send or receive bitcoins".

If it is for holding BTC but you can’t actually send or receive them with this product then it doesn’t function like a wallet for BTC but you might still be using it to hold your bitcoins with the intention to convert back to fiat when you “cash out”.

All products in this category are custodial and thus funds are at the mercy of the provider.

The product cannot be independently verified. If the provider puts your funds at risk on purpose or by accident, you will probably not know about the issue before people start losing money. If the provider is more criminally inclined he might have collected all the backups of all the wallets, ready to be emptied at the press of a button. The product might have a formidable track record but out of distress or change in management turns out to be evil from some point on, with nobody outside ever knowing before it is too late.