In my Admiral Markets review, I have taken a close look at the service provided, as well as the products and costs and compared them to similar trading platforms in order to ascertain whether this is a competitive option for forex trading and CFD markets trading.
Admiral Markets have recently rebranded to Admirals. The main scope of their service has remained the same however, for the purpose of this review, I will refer to them as Admiral Markets.
Speaking of trading platforms, traders are spoilt for choice at Admiral Markets with access to MT4, MT5, MT Webtrader, MetaTrader Supreme Edition, Admiral Markets own mobile application, and MetaTrader’s advanced trading platform, StereoTrader.
Whilst the trading platforms almost certainly cater to experienced traders, Admiral Markets have also ample provision for beginners with a robust education section and demo account. This could make them an excellent, one size fits all, option.
Read my full Admiral Markets review to discover how this multi-asset trading platform stacks up in a crowded marketplace and whether this is a good option for your trading needs.
Who are Admiral Markets?
Founded in 2021, Admiral Markets is an Estonian-based trading platform for forex, CFDs, stocks, bonds, commodities, and ETFs. They offer their services across multiple trading platforms including the well-known MetaTrader and their own proprietary mobile app.
In 2019 Admiral Markets received the Global Banking & Finance Awards Best Forex Company Estonia followed by the ADVFN International Financial Awards in 2021.
Who owns Admiral Markets?
Admiral Markets was founded by Alexander Tsikhilov who has retained his role as Chairman and majority shareholder.
Admiral Markets product range overview
Admiral Markets primarily offer access to forex and CFDs across a variety of proprietary and third-party platforms. Users choosing the MT5 trading platform can also access a selection of real stocks and ETFs.
Admiral has over 148 tradable assets including the following:
Stocks and ETFs
Admiral Markets offer access to trade stocks and ETFs commission-free. Investors can get started for just $0.02 per share on over 45000 financial instruments from the top 15 exchanges.
They have made efforts to cater to both experienced investors and beginners with advanced trading tools alongside interactive courses and webinars in addition to real-time prices and market data.
There are over 40 CFDs on forex pairs offered including major forex pairs, minor forex pairs, exotic forex pairs, and cryptocurrencies. Leverage is up to 1:30 with spreads of 0 pips on their major products.
Commodity CFDs trading
With a starting investment of just 250 EUR, Admiral Markets provides retail clients with opportunities to trade CFDs on precious metals and oil with leverage of up to 1:20. There are 28 commodities to choose from including Agriculture (7), Commodity Futures (11), Energies (4), and Metals (6).
No commission trading, starting at just 250 EUR on benchmark indices of the world’s largest exchanges. Admiral Markets’ spreads are typically very competitive when compared with similar brokers. There are 43 indices available which is a decent number.
Again, leverage rates are competitive for trading bonds at 1:5 with the ability to go long or short on any bond without incurring any additional costs.
Admiral Markets CopyTrader
Admiral Markets offer retail clients the opportunity to copy the transactions of successful traders via the MetaTrader 4 platform. This is an automatic feature that traders can apply for within their trading account. You will need to provide some basic information about your previous experience and general trading knowledge, however, this is a quick process.
Copy trading is a great feature, especially for beginners and it also provides scope for experienced traders to supplement their trading income.
Admiral Markets Accounts
There are several options available when it comes to trading accounts at Admiral Markets including
- Admirals Demo Account
- Admirals trade account – good for day traders
- Admirals zero account – good for scalpers
- Admirals invest account – good for traders of real assets
- Admirals professional account
- Admirals Islamic account
Admiral Markets Platform Review
MetaTrader is one of the most popular ways to trade online and Admiral Markets have harnessed this trend by providing access to both the MetaTrader 4 and MetaTrader 5 in addition to their own proprietary mobile app.
There is a lot to like about MetaTrader 4 and it retains a strong position in the market among seasoned traders. If you’re looking for a plethora of features, all accessible from a user-friendly interface, then this option won’t disappoint. This trading platform was developed to fulfil the needs of Forex traders whilst also providing access to trading CFDs and spread betting.
MetaTrader 4 is available on Admiral Markets via Webtrader, iOS app, and on Android devices. There is some loss of functionality when migrating to the mobile app, however, in all instances, traders can expect a highly customisable interface with advanced charting and plenty of tools and indicators to aid their trading strategies on the financial markets.
This is a suitable option for both beginners and more experienced traders.
The only negative that I find with MetaTrader 4 is that it can feel a little outdated.
This is the upgraded version of MT4 which was primarily developed to allow for easier trading in non-forex CFDs. This is still an excellent trading platform with faster backtesting than MT4 and faster-programmed executions in addition to enhanced social and copy trading features and an economic calendar not found at MT4.
Despite all this functionality, MT5 still falls short of MT4 for traders outside of the US.
Admiral Markets mobile app
Whilst both MetaTrader 4 and MetaTrader 5 are available on mobile, Admiral Markets have provided an additional, proprietary trading app that has been developed entirely in-house.
When testing the Admiral Markets app I found it very pleasing to use, with a clear, well-laid-out interface that even beginners would be able to navigate with ease. There are a number of useful Admiral Markets features, such as the ability to add financial instruments to your watchlists, view market analysis materials, search for financial instruments, place orders, set price alerts, and keep track of live prices and charts.
Customer service can be contacted from within the app and account verification and deposits are all conducted within the app. There is also a two-step login for additional security and biometric authentication for convenient logins.
Admiral Markets education
Admiral Markets have provided a great selection of educational materials to assist new traders including a demo account, trading platform tutorials and educational videos and courses.
Whilst there has obviously been good headway towards providing ample educational material for new traders, more advanced traders will most likely also benefit from some of the materials on offer.
I found the education to be well structured with some great resources including courses, a knowledge base, help identifying and managing risk, and regular webinars.
Perhaps the most impressive offering is Forex 101, a free course, taught by professional traders and split into stages according to your level of knowledge. There are nine lessons in total covering a variety of topics that can get you started and hone your skills.
In addition to this, there is a Trader Dictionary, Forex and CFD Webinars, Risk Management guides, and further guides aimed at all levels of trader.
Admiral Markets own YouTube channel is home to a variety of videos and courses. However, I would also recommend the Weekly Trading Podcast with new material every week keeping you informed of the latest market news and trends.
Admiral Markets research
There are two main sources of research at Admiral: the tools available on the MetaTrader platforms, and the Analytics menu on the Admiral Markets website.
Admiral Markets lists the top movers on a daily basis in order to provide trading ideas. In addition, there is a limited amount of fundamental data which can be located on the forex calendar. This is also where you will find information on upcoming events and historical data.
The MetaTrader platforms also provide charting tools with 90 technical indicators. I recommend traders head to the ‘Global Market Updates’ and ‘Trading News’ sites for excellent up to date, global information.
Admiral Markets customer service review
Customer service is available via live chat, email, and phone in multiple languages.
Admiral Markets have achieved a score of 4.6 out of 5 on Trustpilot which is a testament to the level of support they offer. When I tested the live chat provision I was answered in under 5 minutes by a polite and knowledgeable agent.
Email support is also very efficient, with some of my emails being answered in minutes and always in under 4 hours. You can expect the same level of service when you phone in, with calls being answered in less than 1 minute by friendly staff.
Admiral Markets opening an account
Opening a trading account at Admiral Markets can be completed online or within the mobile app.
Ensure you have selected the trading platform you wish to proceed with before you attempt to open a trading account. The entire account opening process took me in the region of 10 minutes.
- Firstly enter your email address and country of residence.
- You will be required to verify your email
- Provide your personal information such as your DOB and address
- Provide some details of your income, financial situation and any previous trading experience
- Upload documents to verify your identity and proof of address such as passport, driving licence, and utility bill.
- Select the type of trading account you would like
Admiral Markets deposit and withdrawal
Admiral Markets does not charge a deposit fee and Admiral Markets users are able to claim one free withdrawal per month. There is a good selection of deposit methods available.
Admiral Markets deposit and withdrawal options
|Bank Transfer||Free||1 Free per month, £10 thereafter|
|Visa/Mastercard||Free||1 Free per month, 1% min. £1 thereafter|
|PayPal||Free||1 Free per month, 1% min. £1 thereafter|
|Skrill||Free||1 Free per month, 1% min. £1 thereafter|
|Neteller||Free||1 Free per month, 1% min. £1 thereafter|
There are a total of 11 base currencies to choose from at Admiral Markets, and you can expect to incur small currency conversion fees should you trade in another currency.
The minimum deposit at Admiral Markets UK is £200.
Admiral Markets safety
Admiral Markets are regulated by several financial authorities in addition to being listed on a stock exchange and providing traders with negative balance protection.
Being listed on a stock exchange ensures that a company makes public all their financial records. This can provide peace of mind that the company in question won’t go bust with all your funds.
In addition to this, Admiral Markets provides cover from the Financial Services Compensation Scheme, which means that in the unlikely event that they do go bust, client funds are covered up to the value of £85,000.
Here in the UK, Admiral Markets is regulated by the Financial Conduct Authority (FCA) and all client funds are held in a segregated Tier 1 bank for their protection.
In addition to the Financial Conduct Authority, Admiral Markets Pty Ltd has authorisation from the following bodies:
- Estonian Financial Supervision Authority (EFSA)
- The Cyprus Securities and Exchange Commission (CySEC)
- The Australian Securities and Investment Commission (ASIC)
- The Jordan Securities Commission (JSC)
- The Financial Services Authority of Seychelles
Admiral Markets fees
Generally speaking, the fees at Admiral Markets UK are low, especially for those trading forex. In terms of non-trading fees, there is an inactivity fee to be aware of but little else outside of that.
CFD trading fees are competitive at Admiral, coming in slightly lower, or on par, with their nearest competitors and this holds true for forex fees, with Admiral coming in on par with the competition.
The inactivity fee at Admiral kicks into effect on any trading accounts that have not executed any transactions in the previous 24 months and are not used for holding open positions. This is only applicable if the account balance is greater than zero.
There are no fees for depositing money at Admiral Markets UK, and every account gets one free withdrawal request per month, after which there will be a cost associated depending on the withdrawal method used. Should the base currency of the withdrawal differ from the base currency on your trading account, you can expect to incur a 0.3% conversion fee.
Who is Admiral Markets suitable for?
Admirals have placed themselves in a good position for both novice traders and advanced traders. The selection of platforms caters to all levels, whilst a robust education section can help elevate the knowledge of beginners. In addition, they have a reasonable minimum deposit and a demo account for those wishing to start small or simply practice their trading on the financial markets.
It is also worth acknowledging that the low-cost model at Admiral Markets makes it a good option for anyone looking to reduce trading costs.
This section contains useful information to make your experience at Admiral Markets as seamless as possible.
How do I contact Admiral Markets?
Admiral Markets offer support via email, phone and Live Chat.
Email: [email protected]
Phone: +44 20 8157 7344
Whatsapp: +44 74 9509 7435
How do I withdraw money from Admiral Markets?
There are several withdrawal options at Admiral Markets broker, however, withdrawal via bank transfer to the bank account linked to your Admiral Markets trading account seems to be the most popular option. This being said, Admiral Markets also provide the option to withdraw to your electronic wallet which isn’t always available at other forex brokers and when I tested the speed of withdrawals for all methods, I found that funds had usually arrived within one business day.
To make a withdrawal follow these steps:
- Log into your Admirals account
- From the menu, select ‘Withdrawal’
- Select the withdrawal method from the options available
- Enter the amount you wish to withdraw
- Click ‘Submit’
How do I close my account at Admiral Markets?
The most efficient way to close your account would be to close all your positions and withdraw any remaining funds before contacting customer service and asking for your account to be closed.
How long does it take to withdraw money from Admiral Markets?
It usually takes around 1 business day to receive the funds you have withdrawn, however, you should allow for up to 3 business days.