Admiral Markets Review 04/2018 – Legit or scam broker?

Admiral Markets UK Ltd is an international Forex and CFD broker based in Tallinn, Estonia. Private customers can trade FX and CFDs on various underlyings via several account models and trading platforms. Traders who have had experience with Admiral Markets, in addition to the wide range of accounts and platforms, are convinced by the favorable conditions in FX trading.

The broker is subject to the regulation and supervision of the FSA Estonia and thus – since Estonia is a member of the EU – the framework of the MiFID Directive. The broker operates offices in 35 countries worldwide and offers a multi-language customer service. Our Admiral Markets review/report informs you about the most important conditions and the trade offer with the broker.

The facts at a glance
Seat and regulation in the EU (Estonia)
FX and CFDs on stocks, indices, commodities
MT4, MT5 plus integration of ZuluTrade
Optionally market maker or ECN trading
Multi-language support
Very good mobile trading app
Spread from 0.8 pips on the EUR/USD
Low minimum deposit for a trading account of only $200 [minimum deposit depends on the account type you choose to open]

More info:
Broker name Admiral Markets
Visit website www.admiralmarkets.com
Broker type: Market Maker
Founded in 2001
Headquartered London
Regulated by the Financial Conduct Authority (FCA)
Account Currencies USD, EUR, AUD, GBP, CHF, and more…
Account: possible from $10
Payment methods: Bank transfer, credit card, Skrill, Neteller, and more…
Max. Leverage 500:1 (1:5 for cryptocurrencies)
Margin from 0.2% (~20% on cryptocurrencies)
Spread on majors: EUR/USD 1, GPB/USD 2, USD/JPY 1
Trading fees only on ECN trading & stock CFDs
Min Transaction Size 1000
Number of Currency Pairs 47 (5 Cryptocurrencies)
Other financial instruments CFDs on stocks, indices, & commodities
Trading Platforms MT4, MT5, Meta Trader Mobile, & ZuluTrade
Mobile Trading is possible
Bonus up to 25% first deposit bonus and cashback program
Demo account: yes
Languages English, French, Spanish, and many more.
Support via phone, chat, & email

Trading with Admiral Markets
Admiral Markets offers trading via MT4 and MT5 platforms. MT4 has established itself as the industry standard in recent years and is used by numerous brokers. The platform is suitable for manual trading as well as for the use of automated trading systems that can be either imported or programmed. MT5 was on hold for a long time but could only nominally succeed MT4 in the coming years.

Admiral Markets MT4 trading platform
MT4 can be used on Admiral Markets in the standard account foreign exchange and CFDs. In this account model, Admiral Markets acts as market maker. Trading is, with the exception of equity CFDs, commission-free. Spreads in EUR/USD are in the range of 0.7 pips.

In the “Pro” account model, Admiral Markets clients can trade MT4 currencies and precious metals (spot) through an ECN market model. The quotes/prices are then provided not by Admiral Markets, but by liquidity providers. These include Citigroup, Deutsche Bank, Morgan Stanley, and UBS. This model accounts for a commission that is relatively modest at $40 round-turn per million traded.

The account model “MT5” offers ECN Trading via Meta Trader 5. Compared to the MT4 Pro-Account, there are several additional currency pairs and order types (e.g. Buy Limit, Buy Stop, Sell Limit, Sell Stop, Buy Stop Limit, and Sell Stop limit.) The commissions are higher for that.

Account opening and extras
In addition to the name and address of the account, as well as the ID card number, the opening of an account also includes inquiries about the financial circumstances of the new customer as well as his investment objectives and previous trading experience. The address of the employer must also be indicated. The trading software must be installed on the computer.

In addition, an application for mobile devices is available. The minimum deposit depends on the selected account model. For standard account, it is $200; the pro and MT5 account models require $10. The Admiral Zulutrade account requires $1,000 and the Admiral Currency account requires at least $1,500. Admiral Markets often advertises account opening rewards, but by no means consistently with deposit bonuses for new customers.

Account opening in a few steps
Admiral Markets is a broker where traders can trade in foreign exchange as well as CFDs and some other instruments. However, before trading can begin, the respective customer must first open a trading account. At Admiral Markets, this is possible in a few steps that only take a small amount of time. The following step-by-step guide shows you how to quickly and easily open a demo or live account with this broker.

Step 1: Go to the Admiralmarkets website and click on the “Sign in” button at the top right of the start page. Once you have done this, you will be notified that you can register for free or for no obligation demo account to test the customer portal called “TRADER ROOM.” There, customers have the opportunity to open both a demo and a live account.

Step 2: All you need to do now is enter some personal information associated with each account opening. These include first and foremost the name, address, and telephone number as a contact option.

Step 3: Confirm information. After all the details have been made correctly, you can submit them online to the broker. You will then receive an e-mail, which you only have to confirm with the contained link, so that afterwards the account opening is completed.

Step 4: All you have to do now is to make the required minimum deposit so you can start trading e.g. foreign exchange or CFDs. How high the minimum deposit is, depends on the account type. At Admiral Markets it is between 10 and 1,500 USD.

Questions and Answers about Broker Admiral Markets

How can deposits and withdrawal money/funds?
Nearly all forex brokers offer their clients various ways in which deposits and withdrawals can be made to or from the trading account. However, in terms of potential payout, Admiral Markets’ offer is very limited, as our not very positive Admiral Markets experience in this segment shows. For withdrawals, only the bank transfer is available, while deposits can also be made, at least alternatively, by credit cards, Neteller, and Skrill. In the case of the bank transfer with which the payment is to be made, the customer must also expect a processing time, which can sometimes be more than a week.

Is Admiral Markets reputable?
Regarding the respectability/legitimacy, there is no doubt according to our Admiral Markets review. This is confirmed, among other things, that the forex broker has been regulated for some time by the competent authority. Since Admiral Markets is based in the United Kingdom, it is the FCA, which is responsible in the UK for the regulation of brokers. Customers can even check this by getting a confirmation of the regulatory number. In addition, the broker has installed numerous security systems so that customer data as well as sensitive transactions are protected against unauthorized access.

Does Admiral Markets offer a demo account?
There are now very few forex brokers who do not give their customers the opportunity to test trading in foreign currency market through a demo account. Admiral Markets is no exception; the broker has been providing its customers with a free trial account for some time now. The special feature is that it is an MT4 demo account, so that the customer can get to know the popular trading platform playfully and without risk. Real-time quotes are also included in the demo account, so the trading environment is as realistic as possible. It should also be mentioned positively that there is no time limitation with regard to the useful life of the demo account. Thus, the demo account can also be used in parallel to the real trading account, for example, to test strategies.

What is the minimum deposit?
At Admiral Markets, there is no principle minimum deposit for all customers, as the trader can choose between different account models. Depending on the selected trading account, the minimum deposit is between $10 and 1,500 euros. With the ordinary standard account, a very small minimum deposit of $10 is enough. If, on the other hand, you decide to use the account model PRO or MetaTrader 5 as an account version, you must make a minimum deposit of $1,000. The top account type requires a minimum deposit of $1,500!

Does Admiral Markets offer a bonus for new customers?
Anyone who chooses a new Forex broker would like to receive a bonus on the first deposit. While most forex brokers offer such a bonus, there are some major differences between the levels of bonuses and the terms of wagering required to pay for the bonuses. Although Admiral Markets pays a bonus to their customers for the first deposit, this is relatively low compared to many other forex brokers with a maximum of 25 percent. Some brokers offer a bonus of up to 100 percent. In addition, the amount of the bonus at Admiral Markets is also dependent on the minimum deposit made or the amount of the first deposit made, so that by no means all customers receive a bonus of 25 percent.

Is Admiral Markets reputable?
If a broker is not supervised by a trusted authority like British financial regulators, it will be considered distrustful by many traders. Quite a few investors subordinate brokers, such as Admiral Markets, as a rip-off, because the regulation takes place in a financial center of not very known country. Certainly, the regulatory framework in Estonia is not comparable to those in the United Kingdom, but to conclude from this that Admiral Market’s is fraud does not make much sense and it is too broad for a number of reasons. First, the Estonian authorities are also subject to the EU framework directives, which are far more stringent than those for brokers in the Cayman Islands, Africa, or the South Seas. Secondly, dubious providers often reveal themselves in very different places than regulation. An important indication that Admiral Markets is reputable is the cooperation with renowned Tier-1 banks in providing liquidity.

The conclusion of our Admiral Markets review
An experience with Admiral Markets is worthwhile for entry-level (standard account) and advanced traders with several years of trading experience (Pro and MT5 account.) The broker looks convincing in several places. First, the conditions in trading (spreads, commissions) are favorable. Second, different needs of traders are met by different account models.

Third, customers have the choice between multiple platforms. If your old/previous broker does not offer MT5, you can use Admiral Markets to use the trading platform of the future. Regulation and deposit insurance in Estonia are a deficit on a manageable scale; Admiral Market’s being a fraud and they having unfair dealings is a highly unlikely event, given the exclusive contracts with renowned liquidity providers.

PRO
European regulation
Multi-Language support
Trade possible via app
Spreads starting at 0.8 pips
Trading account from $10

CON
MetaTrader 5 is not available for all accounts
Broker raises commission from time to time

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