Admiral Markets review
This broker was not featured in our 2020 Broker Review Audit. This is because, in the past 12 months, it has failed to pass our initial screening process and is not recommended by our team of experts. As such some of the information found here may be out of date.
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Admiral Markets Group is an Estonian based financial services company that was founded in 2001. The company is primarily regulated by the Estonian Financial Supervision Authority, which comes directly under the MiFID initiative to provide financial services to all member countries in the EU. Admiral Markets, which is a white label subsidiary of the Admiral Markets Group, is situated in the UK and regulated by the FCA. Admiral Markets provides a broad range of financial instruments ranging from FX currency pairs and commodities and also offers exclusive access to trade the major indices in the world along with the most popular stocks.
Admiral Markets is one of the few trusted Forex brokers that is dedicated to maintaining a reputed and significant presence in the market. Numerous brokers sprout up and disappear within a very short span of time, which makes the 15 years of Admiral Market’s presence in the industry seem like an eternity.
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Admiral Markets Tools For Analysis & Market Interpretation
Admiral Markets provides one of the most useful and efficient tools for careful and educated interpretation of the markets. All clients are granted access to the entire set of instruments that includes a complete economic calendar, technical and fundamental analysis, wave analysis, Autochartist access, market heat maps, and a market sentiment analysis, which gives an excellent inference of present market conditions and future market movement.
Admiral Markets covers all the key economic events by performing in-depth analysis of the news and how it affects the overall trends of the markets. Every client that opens an account with the company can also access a thorough and extensive list of Admiral Markets training resources, which contain materials that are aimed at both amateurs as well as professional traders.
What Are The Different Types Of Admiral Markets Accounts & Trading Platforms?
The absolute minimum amount required to open an account at Admiral Markets is $200, which grants access to the highly popular “Admiral.Markets” trading account. The Admiral.Markets account is primarily a micro account that offers up to 1:500 leverage and spreads that start from 0.8 pips. The higher leverage and lower spreads allow scalpers and high-risk traders to take advantage of market volatility, which makes it an excellent account for traders trading on large margin. This account also offers access to the entire list of financial instruments to trade that include currencies, CFDs, stocks, indices, futures, and bonds.
The second type of account is the “Admiral.Prime” account, which starts with an initial deposit of $1000 and a lowered Admiral Markets leverage of 1:200. The Prime account is an ECN account that starts from 0 spreads and a commission of $3 per lot. The major drawback of this account is that it only provides access to FX currencies and precious metal CFDs, which prevents traders from investing in other assets that are available in the ‘Markets’ account.
MT4 is the standard Admiral Markets platform and is available for Windows and Mac operating systems. Admiral Markets mobile traders can download the MT4 app from the app stores and use their existing login information to trade on their smartphones or tablets. The company also offers a web trader for those who prefer trading on their browser.
Admiral Markets customers are also provided the option of opening an MT5 trading account that guarantees faster market execution and better trading conditions. The initial deposit remains at $1000, but there is a commission of .003% of the volume traded. The spreads also start from 0.2 pips, but the MT5 platform has several disadvantages when compared to the MT4 platform. The MT5 trading platform does not allow hedging, and the maximum leverage available is fixed at 1:100. These account holders also do not get access to the Autochartist platform, which is a great tool to decipher chart patterns.
A limited Admiral Markets demo account is also offered for those who would like to evaluate the platform before making a deposit. The $10,000 demo account is valid for 30 days and supports EA as well as all the essential tools that are available with a real live account.
Is There An Admiral Markets Bonus?
The broker does not provide a bonus for an initial deposit unless you are depositing a large amount of money. The minimum deposit of $15000 or more can qualify for an Admiral Markets bonus, but it depends on how well the client bargains with the company executives. On the other hand, there are Forex trading competitions with real prize money to be won, and a loyalty program which allows traders to gather loyalty points that traders can redeem for cash bonuses.
Cost Of Trading – Admiral Markets Spreads, SWAPs, And Commissions
Admiral Market offers one of the best spreads and lowest commissions, which in turn helps in reducing the cost of trading. Even the primary account has extremely tight spreads of 0.8 pips on majors, and traders can enjoy up to 2 pips maximum spreads on all major currency pairs. The SWAPs are also manageable, and the commission of $3 per lot traded for the ECN account is extremely competitive. If the cost of trading is your primary concern, an Admiral Markets account can help you to reduce your costs significantly.
Customer Support Channels At Admiral Markets
Admiral Markets are committed about having a good customer support channel. Traders can receive quick and efficient support for all of their complaints and issues are generally tended to within 24 hours. FCA regulation also states that all customer complaints must be resolved in an amicable manner, which further helps in improving the broker’s approach towards to all client complaints.
Funds are also kept in segregated accounts, which ensure that traders can access their funds at any time. It only takes a maximum of 24 hours for all withdrawals or deposits, and traders can be assured that their funds are secure with an FCA regulated Forex broker.
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