Admiral Markets is a world-renowned company which offers brokerage for forex traders. Admiral Markets is a leading forex broker in the United Kingdom (U.K) and also in the European continent.
In this post, you will read about Admiral markets review, features, pros and cons, bonus and promotions. This is the best review about the overall services offered by the Admiral markets forex broker.
About Admiral Markets
Admiral Markets was founded in 2001 by the Admiral Markets group in Estonia. They have a forex trading platform provided for people to trade in the forex market.
The Admiral Markets Group has continued to expand its coast by enlarging its geographical reach and offering a wide range of trading instruments for forex trading.
Through Admiral Markets, anyone can trade in over 70 currency pairs as well as Contract for Differences (CFDs) on stocks, indices, energy products, precious metals as well as for cryptocurrencies or digital currencies such as Zcash, Ethereum, Dash, Bitcoin and Monero.
These products are made available on the MetaTrader 4 and MetaTrader 5 (MT4 and MT5) forex trading platform on Admiral Markets. The Admiral Markets Group includes the following companies under its control.
1. Admiral Markets (UK) Ltd
This group is authorized and regulated by the Financial Conduct Authority (FCA ).
2. Admiral Markets Group AS
The Admiral Markets Group in South Africa has licensed from the Estonian Financial Supervision Authority which provides the main investment for forex brokerage activities within the European Union.
3. Admiral Markets Cyprus Limited
Admiral Markets company in Cyprus is regulated and licensed by the Cyprus Securities and Exchange Commission (CySEC).
4. Admiral Markets Pty Ltd
The Admiral Markets company in Pty Limited is based in Sydney but is regulated by the Australian Securities and Investment Commission (ASIC).
The Admiral Markets Group is a global and an international brand which has a working staff of about 400 people in the world. Also, they have more than 24,000 clients who are active on its forex trading platform.
In September 2015, they won the award of the Best Meta Trader 4 (MT4) forex broker in the United Kingdom (U.K) Forex Awards hosted by Shares Magazine.
In that same year (2015), Admiral Markets was voted as “Best Foreign Broker In Poland 2015” after participating in the FX Cuffs, which happens to be the biggest forex conference summit held in Poland.
In 2015, the Admiral Markets Group was awarded the second place in the category “FX broker of the year” by Broker Wahl in Germany Bokerwahl.
The Admiral markets group has also been rated as the “Best of the Best” by the New Europe magazine. Lastly, Admiral Markets has been voted as the number one Forex broker (Readers choice) by users of a forex platform known as onlinebroker-portal.de.
Admiral Markets is authorized by regulated bodies to offer brokerage services for forex traders. They are regulated by the Financial Conduct Authority (FCA) in London, United Kingdom (UK) Firm Ref № 595450.
They are regulated in Cyprus by the Cyprus Securities and Exchange Commission (CySEC), its Cyprus license number is 201/13., they are regulated in Australia by the Australian Securities and Investment Commission (ASIC) and they are regulated in Estonia by the Estonian Financial Supervision Authority (EFSA) with the License № 4.1-1/46.
Forex Trading Accounts
There are three types of trading accounts provided on the Admiral Markets forex trading platform. First is the Classic Admiral Markets account which requires a minimum account deposit of $200.
On the Classic Admiral Markets account, forex traders can choose 59 currencies as well as Indices, Spot Metals, Spot Energies and Stocks. The account leverage is 1:500.
Admiral Prime and the Admiral MT5 trading account requires a minimum account deposit of $1000.
Each of the three trading accounts offered by Admiral Markets has different varieties of asset list to choose, with leverages. Some of their accounts are charged with certain commissions.
The Classic Admiral account and the Admiral Prime account uses the MetaTrader 4 (MT4) forex trading platform while the Admiral MT5 account uses the popular MetaTrader 5 forex trading account.
The minimum order size for all the trading accounts on the Admiral Markets forex trading platform is 0.01s lots and the market execution is used for all.
The classic Admiral Markets account is commission-free while the Admiral Prime and the Admiral MT5 trading account involves commissions and it provides account spreads as low as zero spreads and 0.2 pips.
Islamic (swap-free) accounts are offered for all trading account types with a base currency of GBP, EUR or USD.
New forex traders can use a demo account to trade and gain experience on their forex trading platform. A demo account can be opened on Admiral Markets which is provided for any of the three trading accounts.
I was so pleased to discover that Admiral Markets has given an extra focus for forex traders. This was done by urging them to use the demo account to start forex trading and gain experience.
Any new forex trader can test his forex trading strategies by signing up for a free demo account on Admiral Markets. This forex broker provides a free $10,000 in virtual funds which can be used to trade under live trading conditions. The demo account is offered for free only for a period of 30 days.
As a client, you can trade on iPhones, iPads and Andriod mobile devices.
|Account Type||Minimum Deposit||Minimum trade size||Maximum Leverage||Average Spreads|
|Admiral Markets||$200||0.01||1:500||1.2 pips on EUR/USD|
|Admiral Prime||$1000||0.01||1:200||0.6 pips on EUR/USD + commission $3 per standard lot per side|
|Admiral MT5||$1000||0.01||1:100||0.6 pips on EUR/USD + commission 0.003 % of the notional value|
Security of Funds
All the units of the Admiral Markets Group are duly registered by respective regulatory authorities and bodies in Australia and Europe. One of the requirements for licensed brokers is a guarantee of good financial standing and Admiral Markets has passed that test.
Both the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA) oblige forex brokers to maintain net tangible assets of at least 730,000 EUR while the Australian Securities and Investment Commission (ASIC) demands at least $1,000,000.
These regulatory authorities require all clients money to be held and kept in segregated trust accounts.
Admiral Markets guarantee the safety of the money of forex traders by saving their funds in separate bank accounts different from the primary bank account of the Admiral Markets group.
- They have a user-friendly website that makes it easy for users to operate.
- They provide tutorials, webinars and forex education materials to their clients.
- Clients can use their mobile devices (Andriod, iPhone) to trade in the Admiral Markets forex trading platform.
- They support the latest MT5 forex trading platform.
- They offer bonuses and promotions to their clients.
- Demo accounts are available at Admiral Markets forex trading platform.
- Admiral Markets provides a wide range of analytical tools for clients and forex traders.
- They are different methods of payment for account withdrawal and deposit on Admiral Markets.
- They have a 24/7 Standby customer care service which is always reachable.
- Forex traders are notified on the forex events along with forex market activity.
- The website has an enabled live chat widget for easy contact to customer care.
- Through PowerStats, Admiral Markets gives important information to clients.
- Forex traders can be able to monitor and examine trading activities on Admiral Markets with Autochartist.
Forex Trading Tools
There are several tools provided by Admiral Markets for forex traders, the two popular forex trading tools include;
Autochartist is a technology which allows forex traders to monitor thousands of financial instrument 24 hours every day. Autochartist is the most advanced forex tool in the world for automatic identification of forex chart patterns and Fibonacci patterns.
It has pattern recognition engines which continuously scan different financial markets such as Forex, Equities, Commodity markets and Indices. Autochartist helps forex traders to get notified within minutes of forex pattern formations.
Autochartist is only free for only 30 days. Autochartist can be downloaded by forex traders on a Meta Trader 4 (MT4) application with a custom plugin which takes just 30 seconds to install.
PowerStats is another feature given to forex traders by the Admiral Markets group. The PowerStats tool helps to give statistical information to forex trader on trading instruments before they process any trade.
Powerstats helps forex traders when setting stop-loss and take-profit levels, it helps to provide a better assessment of volatility and risk on forex trading accounts.
Admiral Markets offers books, webinars and seminars to its clients and forex traders who participate on its forex trading platform.
Informative articles are also provided as part of the educational materials which is provided by the Admiral Markets in hypothetical trading conditions.
Seminars are helping at their London location while the webinars are available to clients at almost daily basis intervals. Also, Admiral Markets publishes brochures and educational books in various languages which are distributed globally and internationally.
Forex traders can get answers to the Frequently Asked Questions (FAQs) about the available services and financial trading from the Meta Trader 4 (MT4) FAQ and the General Questions FAQ section. Additionally, a glossary of financial and forex terms is provided by this forex broker.
Lastly, fundamental analysis and technical analysis are posted and published every day. Wave analysis is also provided for clients daily. The Central bank rates of the major world currencies together with an economic calendar is displayed on the Admiral Markets website.
Bonus and Promotions
Admiral Markets provides a 30% bonus on every deposit made on its forex trading accounts. This offer expires by the end of May, you are advised to check the website www.admiralmarkets.com for available bonus programs.
While making this review about the Admiral Markets, I discovered that Admiral Markets was continuing its ForexBall competition which comes with a prize pool of $541,000.
This promotion offered by Admiral Markets is educational and also lucrative for forex brokers because it offers comprehensive training and creates a learning avenue for the players and participants to track their success, learn from their mistakes and work on their forex trading strategies.
In addition, the Admiral markets forex trading platform provides an opportunity for forex traders to use the “Request a Personal Offer” promotion.
In this promotion, Admiral Markets customizes the forex trading conditions for forex traders to deposit at least $15,000 in their forex trading account which makes this offer competitive for forex traders.
A forex trader is only required to fill in a short form in order to request a personal offer from this forex broker. After this has been done, they will be contacted by a personal account manager who will give them an offer that specifically matches their trading demands.
Forex Trading Conditions
Minimum Initial Deposit
Forex traders are required to deposit at least $200 to open a forex trading account with the Admiral Markets. For ECN account holders, an initial deposit of $1000 is required to open a trading account.
Average Spreads & Commissions
Admiral Markets provides variable spreads on its forex trading accounts. The EUR/USD pair on the commission-free account is averaged at 1.2 pips and 0.6 pips on ECN accounts which involves a commission of around $6 round turn per standard lot.
Basically, this means that the trading cost on different trading account types is quite similar, which is an average of around 1.2 pips.
Admiral Markets offers a leverage of up to 1:400 w, this is considered to be at a high rate because it is at an upper end of the forex industry’s standard. Nonetheless, many forex brokers in the forex trading industry offer similar and even higher account leverage levels.
NOTE THIS: I strictly recommend forex traders to be mindful of high leverage on forex trading platforms because it may lead multiply their profits on a little deposit and may further lead to heavy losses exceeding their initial investments.
Forex Trading Conditions
The Admiral Markets supports the two most popular forex trading platforms in the world which are the MetaTrader 4 (MT4) and the MetaTrader 5 (MT5) forex trading platform.
MT4 Forex Trading Platform
The MetaTrader 4 forex trading platform is fully customizable for any forex trading situation, preference or skill level. The Admiral Markets provides the MetaTrader 4 forex trading platform on desktop, web and mobile versions.
The MetaTrader4 forex trading platform provides all the forex trading tools and resources needed by any forex trader. It also provides advanced charting package, various technical indicators, one-click forex trading option, extensive back-testing environment and Expert Advisors (EAs) which helps to allow full automatization of forex trading activities.
Additionally. The Admiral markets forex broker has developed a supreme edition of the Meta Trader 4 forex trading platform. This powerful MT4 platform has some unique features which are listed as follows;
- The Mini Trader – It enhances and simplifies order creation in a neat and compact window.
- Trading Terminal – It uses the Mini Trader terminal across multiple currencies placed conveniently in one window.
- Alarm Manager – It provides alert notifications for important events as per preferences of the for7ex trader.
- Correlation Trader – It assists forex traders to tale advantage of correlated trading pairs and avoid risks.
- Correlation Matrix – It shows the correlation between all the currency pairs.
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MT5 Forex Trading Platform
Admiral Markets supports the new MetaTrader 5 forex trading platform which is available on desktop and mobile versions of this forex broker.
The MetaTrader 5 forex trading platform is a new upgrade and improvement and upgrades over the MT4 forex trading platform.
Even after the MetaTrader 5 forex trading platform was developed and marketed in the foreign exchange market, many forex brokers still prefer the MT4 forex trading platform because MetaTrader 5 does not support the Expert Advisers (EAs) and the trading indicators offered by the MetaTrader 4 forex trading platform.
Payment Methods For Deposit and Withdrawals
Account deposit can be made on Admiral Markets forex trading accounts with payment systems such as credit cards(Visa and MasterCard), bank wires, and e-wallets such as PayPal, Neteller, Sofort and Skrill.
Deposits made in local currencies can be converted into USD, GBP, EUR, CHF and other applicable currencies on the Admiral Markets forex trading platform.
Withdrawals are only processed with bank transfers but commissions may be charged on the transactions depending on the country involved.
Customer Care Support
The Admiral Markets Group provides a customer cares support to assist in solving technical matters such as inquiries, queries and questions asked by clients. They offer telephone and a live chat to enable forex traders to reach out to them.
During Australian and European office hours, the live chat and telephone support is available in over 24 different languages. The English chat is always available 24 hours of every business day.
Additionally, Admiral Markets offers clients with remote support. If a client or trader has a software question or a technical issue related to using the MetaTrader 4 basic or MT4 Supreme Edition forex trading platforms, Admiral Markets can quickly assist such client with the remote support.
Pros and Cons
|It is a licensed and regulated forex broker.||The initial $200 account deposit might be expensive for forex traders.|
|It provides a demo account for prospective clients.|
|They provide bonus and promotions for forex traders.|
|There is a wide choice of assets.|
|It offers high leverage on trading accounts.|
|It has a useful analytics section|
|It provides useful educational materials for forex traders.|
|There is a wide choice of forex trading platforms|
|Availability of the MT4 and MT5 forex trading platform.|
|It has a User-friendly website.|
|This forex broker has many years of experience in the forex industry.|
|They are a global and international brand.|
The Admiral Markets Group is a global forex broker which has many years experience in the foreign exchange market. It offers good trading conditions and a variety of instruments on the MT4 and MT5 forex trading platforms for forex traders. You won’t be much disadvantages and cons about this forex trader.
As at the time of making this review, I was quite impressed with Admiral Markets forex broker because it provides the necessary trading tools and instruments which both new experienced and new forex traders would need to have an enjoyable, memorable and hopefully a profitable forex trading experience.
However, I would have loved to see additional promotions and bonuses which will encourage prospective forex traders to open trading accounts.
This is the Admiral Markets review, I hope you’ll have a great experience on their forex trading platform.