Admiral Markets Review 2024: Should you sign up?

Pros And Cons of Admiral Markets

Despite the level of credibility or trustworthiness of a broker, there are aspects where it falls short.

To ensure a well-rounded review, here is a sum up of both the pros and cons of Admiral Market:

Advantages of Admiral Market:

• Licensed by recognized authorities: Admiral markets is overseen by five top tier financial authorities including Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), and Australian Financial Services Licence (AFSL).
• Wide range of trading assets: you can choose from a variety of different assets – currencies, cryptocurrencies, commodities, indices, bonds, stocks, and ETFs.
• Easy-to-navigate website: the platform is well-designed and puts every user’s experience at the forefront.
• Robust training content: the amount of resources invested in educating its users is vast and comprehensive, from how to use its platform to how to trade.
• Social & copy trading: you can copy trade and signals on the platform.
• Low spreads: In comparison to other top brokers such as eToro and FXCM, Admiral offers a very low spread on its currency pairs.

Disadvantages of Admiral Market:

• Limited functionality on the MT5 apps: although the platform supports MetaTrader 5, there are limits to 100 lots.
• Unclear customer services approach: aside from the point where the broker mentioned traders get “24/5 trading ideas”, there isn’t any clear indication of the availability of services.

Trading Terms

Every broker has their terms and conditions that distinguish it from its counterparts.

It is an agreement between clients and the broker on how services are offered. Some of Admiral Markets’ trading terms are listed below:

1. The minimum deposit to begin trading is $25
2. Leverage up to 1:1000
3. Forex typical spreads from 0 pips (EURUSD), micro lots, and fractional shares
4. Stocks and CFDs – commission-free
5. Free real-time charts, market news, and research
6. 500+ CFDs on currencies, energies, metals, indices, stocks, & ETFs
7. Islamic account option is available.
8. Affiliate program option.
9. Available bonuses and contests.
10. Fully functioning support service.

Regulatory Compliance

To begin to review this broker, it’s necessary to go over one of the most important factors traders take into consideration before registering with any broker: regulatory compliance.

Several international financial agencies regulate Admiral Market. Compliance with these agencies ensures clients’ and customers’ interests are protected, and their integrity is maintained over time.

As mentioned earlier, there are five authorities supervising Admiral Market: the Cyprus Securities and Exchange Commission (CySEC), the UK Financial Conduct Authority (FCA), the Companies and Intellectual Property Commission (CIPC), Australian Financial Services Licence (AFSL), and Jordan Securities Commission (JSC).

A broker’s compliance with such regulatory bodies guarantees fairness, transparency, and openness. The FCA in particular is an institution recognized in almost all developed countries and guarantees reliable protection for traders and investors from possible illegal actions of a broker.

Available Assets

Admiral Markets is not restricted by the number of tradable instruments on its platform. Users have an assortment and diverse options of tradable assets to choose from without having to bother to switch brokers to access other instruments.  The most fundamental assets are found under premium analytics are:

1. Currencies
2. Cryptocurrencies
3. Commodities
4. Indices
5. Bonds
6. Stocks
7. ETFs

Under currency pairs, you’ll find instruments such as EUR/USD, GBP/USD, USD/CHF, and USD/JPY, among others. In comparison to other top brokers such as eToro and FXCM, Admiral offers a very low spread on its currency pairs.

The commodity market covers energy, agriculture, and metal products, including gold, silver, copper, crude oil, brent, NGAS, ARABICA, SUGAR.RAW, and more. The indices market has multiple assets listed, including DAX40, DJI30, SP500, NASDAQ, FTSE100, STOXX50, IBEX, and CAC.

There are also stocks of popular companies around the globe like Apple, Google, Facebook, Intel, Tesla, BMW, Airbus, and Total SE. The broker also offers some well-traded ETFs such as ProShares, SPDR, and Vanguard.

To view full details on these assets and underlying instruments, toggle to the section on the website’s tagged product. Right there, you’re conveniently provided with every detail you need to know.

Account Types

The account types available are subject to the type of trading account you choose to go with, and whether you prefer the MT4 or MT5 platform. If you decide to choose an MT5 account type, you’ll need to decide whether you will use Trade.MT5, Invest.MT5, or Zero.MT5.

Each has a different value proposition, including the minimum deposit, account balance, trading instruments, leverage, spread, requotes, etc. So far, Invest.MT5 has the lowest minimum deposit.

Under MetaTrader 4, there are only two account types for any user to select from: Trade.MT4 and Zero.MT4. Both accounts have different provisions, like the number of available instruments, which is lower on Zero.MT4 than Trade.MT4, as well as spread and pips.

These accounts share similarities as well, like the minimum deposit, account balance currency, and leverage (forex and indices). I found all this information under the “start trading” section on the company’s site.

Safety And Regulation

Security and regulation are paramount considerations when deciding on a broker of choice. Admiral Markets places both on its priority list, and has since its inception.

Its trading system and software are wholly closed off against fraudulent activity. To address any issues traders may encounter, customer service provides support in multiple languages and has 16 local offices, information for which can be found on the company’s home page.

Admiral Markets states that its customer deposits are kept in separate accounts in large banks, which is a reliable protection of users’ money in the event of any unforeseen circumstances.

Training

If there’s one aspect that makes Admiral Markets stand out, it is its focus on user education.

Admiral gives users a better understanding of how the financial market works and in-depth knowledge about how to use their products via its resources, which are provided in different content formats and languages to aid users’ comprehension.

Some categories you’ll find under the education section on its website are Forex & CFD Webinars, Articles & Tutorials, Forex and CFD Seminars, Trader’s Glossary, FAQ, and Ebook. Some of these sections cover in-depth knowledge of different topics including the use of technical indicators such as RSI and Moving Average.

This educational base teaches traders how not to gamble and to consider fundamental factors such as economic news. The most intriguing component of Admiral Markets is the Demo Trading feature.

This feature allows beginners to learn and practice live trading on a free account without having to commit any money. You can develop a profitable trading strategy using technical analysis or fundamental analysis knowledge gained and do so risk-free.

There are other sources of information or news from the website. Under premium analytics, you’ll find links to news, market sentiments, calendar, and signals. However, many of these contents are powered by third parties, including Dow Jones and Acuity.

Summary Of Admiral Markets

Admiral Market is a legacy broker with over two decades of providing brokerage services. It was founded in 2001 and has evolved to become the modern-day broker. It is headquartered in Tallinn, Estonia. However, its benefits are open to a wide range of clients around the globe.

It provides up to 2500 financial instruments including forex, cryptocurrency, indices, stocks, and CFDs. The wide range of choices is appealing to any trader. There is a social trading option as well, but it is relatively new.

A CFD (Contract For Difference) is a financial instrument that allows traders to speculate the movement in the price of different assets without owning the assets and involves margin. Note that CFDs are complex instruments with high risks of losses due to leverage.

An astonishing 75% of retail investor accounts globally lose money through CFD trading with this provider, so it’s important to be sure of your understanding of how it works and weigh the potential risks.

In addition to the list of tradable assets, Admiral provides a vast library of educational resources and trading platforms, such as MetaTrader 4 and 5. There is a section specially dedicated to signals on the site.

Deposit and withdrawal of funds

The most common critique of Admiral Markets is that the trading platform lacks a variety of methods to deposit or withdraw funds.

Making deposits is very limiting on Admiral since there are just three primary means of making deposits: bank transfer, Visa / Mastercard, and Perfect Money. The upside is that regardless of the chosen method, there is no commission.

The minimum deposit to begin trading is $25, and customers can use Klarna, PayPal (UK only), Safety Pay, or iDeal to complete the deposit. To make withdrawals, there are two methods you can use: bank transfer or Perfect Money. Unlike depositing, you’re charged to finalize withdrawals; this is also subjective to the chosen method.

For bank transfer, you’re expected to pay 10 USD / 10 EUR / 5 JOD. When using Perfect Money, you will pay a fee of 1%, with a minimum of 1 EUR / 1 USD. Every user gets one free withdrawal request every month. PayPal, Skrill, and Neteller can also be used for withdrawal.

There’s also what is called the internal transfer, which involves transfer between clients’ separate accounts. Depending on the choice, the deposit fee might be free or up to 1% of the amount.

Islamic Account

Admiral prioritizes traders of all types. The Islamic account is known as a swap-free account. On this account, Islamic traders pay no interest or receive any interest during the duration of holding the contract.

The Islamic account features are as follows:

• No interest/swap adjustments on overnight positions
• No spread widening or specific up-front commissions
• Option to open an Trade.MT5 account as an Islamic Account
• Same trading conditions as on standard trading accounts
• Unrestricted access to all trading instruments
• No restrictions on trading styles, strategies, or use of Expert Advisors

If you choose to go with the Islamic account, you’ll still get the complete benefits like every other trader; that is, the edge-cutting trading technology, low spread & commission, and fast execution.

Customer Support

Admiral boasts responsive and professional customer service.

There are many ways to reach out to brokers if you ever need to:

• Filling out a form with your details and message to the broker
• Via the company’s official email
• Phone number

In addition, the company’s help center is loaded with high quality content on getting started, trading, trading platforms, payment, partnership program, and more. The main issue customers cite with Admiral Markets is that the broker doesn’t display its availability on the site. Whether it’s available 24/5 or 24/7, it’s unclear.

Conclusion

Jeff Bezos once said, “A brand for a company is like a reputation for a person. You earn a reputation by trying to do hard things well.” Admiral Markets has earned its reputation and distinguished itself from most of its competitors with its unique service and how Admiral is invested in educating users. Overall, Admiral is an excellent broker that’s worth a try.

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