Forex Deposit with Skrill

Cyprus is undergoing financial trouble or something about the Euro struggling to hold its place in the World Economy. Being a Forex trader, you know the importance of such happenings. Volatile business environment offers the best chances for making profit in the Forex industry. You do not have to be an expert to know the effect of economic crises on the currency; even an amateur can anticipate the extent to which the Cyprus news will affect the Euro.

Suppose you forecasted that the Euro would strenghten in the coming few weeks which compels you to buy this currency in large amounts. But do you have enough money in your Forex trade account to pass a buying order to your Forex broker? What if the entire amount is already invested in different markets? This brings us to the importance of Skrill in the field of Forex.

>> eToro is accepting Paypal: click here to start trading instantly with your Skrill funds

Let’s start by having a quick glance on what Skrill is, the process to deposit money via this method and how does it help you in the highly volatile Forex industry?

What Is Skrill?

Simply put, it is a Money booker which allows you to transfer your funds online without disclosing your identity, bank account or credit card information to the other party. It is a kind of e-wallet which you can top up any time from your Credit/Debit card or bank account. These days, more than half of the domestic and commercial transactions take place online, even a cross border purchase can be executed within a few minutes. But where online buying has made your life easy, it also has created opportunities for cyber criminals and hackers. Skrill reduces the chance of online frauds by hiding your bank account and other payment related details from the seller.

That was a general overview on the importance of Moneybooker in today’s business world. Now let’s see its correlation with Forex and how it can help you make more profit out of this market?

How Do I Deposit Funds Through Skrill?

The first step is to get your own Skrill Account. Don’t worry that’s not a really lengthy process. Visit www.skrill.com and sign up for a new account. You will have to fill in a basic form of registration, accept the terms and conditions and your account will be created after validating the details. Now that you have a new Skrill account, top it up with money that you will be buying Forex with. There are 2 ways to stock up your Moneybooker account: Credit/Debit card or Bank account.

The most important step before going through any of the above hassles is to confirm whether your broker accepts deposits via Skrill. Numerous Forex brokerage houses have added Moneybooker in their list of acceptable fund deposit methods in 2013. Some of them even give bonuses or cash back opportunities for depositing money via Moneybooker. Nevertheless, it is better to check once before proceeding further. Visit the FAQ section of your broker’s website and check it under the deposit related heading. If you find Skrill in that list, here is what to do next.

Login to your trading account and visit the fund management page. Here we are referring to the tab where you can put in requests for deposits and withdrawals. Select Moneybooker/Skrill from the list of available methods. Enter the amount you wish to deposit and hit enter. You will be redirected to the Moneybooker’s website. Confirm your transaction there, you will receive an email/notification and your amount will be deposited in your Forex trade account instantly. This process may vary slightly depending upon the broker’s policies. Contact your broker in case of a different procedure.

>> Our recommended Skrill FX broker is eToro: click here to start trading instantly!

Happy Trading!!

Even in today’s technological era, there are a few brokers who still rely on traditional means of fund transfer, with wire transfer at the top of their list. These are for those passive traders who make long term investments and have no concern over the fluctuating currency prices. We would not recommend such brokers for you if you are an opportunist who keeps a constant eye on the global economic happenings in the hopes of spotting a spread earning opportunity. Waiting for 3 days or in some cases even 5 days, to get your funds transferred and then executing the trade is not practical for active investors in the Forex industry where currency prices fluctuate even more than the gasoline prices. Skrill offers instant transfer of funds.

So why wait for even a day and miss any profit making opportunity if you can have it done in less a minute? And the good thing is that you don’t even have to pay for the registration. Just open a free account with Skrill and get a chance to earn from every opportunity in the extremely volatile Forex industry.