Admiral Markets review 2020

Admiral Markets review 2020

In this extensive Admiral Markets review we review online forex & CFD broker Admiral Markets. In addition to a review of Admiral Markets as a broker, we look at the available trading platforms, the product range and all other aspects that are important when choosing a good broker.

If you would like to take a look at the Admiral Markets client portal, we recommend that you open a free demo account. This will give you instant access to a fictitious balance and you will be able to take a look at it while reading the review.

What is Admiral Markets

Admiral Markets is an online broker offering forex and CFD trading on indices, metals, stocks, bonds, ETFs, energies and cryptocurrencies. Admiral Markets has grown to be one of the larger forex and CFD brokers worldwide since 2001. Admiral Markets offers support in dozens of languages and has a local presence in over 40 countries.

Admiral Markets is a multinational company. This can be clearly seen when we visit the Admiral Markets website. The website appears to be available in more than 30 languages. For each language you can check at the top of the website which financial supervisor is relevant. Admiral Markets has a number of independent offices around the world, which are registered with the relevant local regulator. The website looks transparent and extensive information about the company can easily be found.

Available markets/instruments

Admiral Markets offers the following instruments:

  • Forex
  • Index CFDs
  • Shares CFDs
  • Commodity CFDs
  • Bond CFDs
  • Cryptocurrency CFDs
  • ETFs

An overview of all available markets and instruments can easily be found on the website. The number of markets on offer is more than sufficient for most traders. What is striking is that Admiral Markets does not seem to offer currency pairs in which the Turkish Lira (TRY) is represented. There are brokers offering more currency pairs, but for the rest the list of major pairs, minor pairs and exotic pairs seems to be quite complete.

When offering cryptocurrency CFDs, it is striking that the net exposure should not exceed 10,000 euros, or the equivalent in another currency. The available leverage on cryptocurrency CFDs is 1:2. This is very low, but the reason for this lies in the applicable laws and regulations.

Available leverage

When we trade forex and CFDs, we use leverage to increase our exposure to the markets. The leverage increases our potential profit, but also our potential loss.

For regulatory reasons, brokers now differentiate between so-called retail clients and professional clients. Professional clients enjoy less protection, but have a much higher leverage. The vast majority of traders can be qualified as retail traders. Admiral Markets indicates on its website that the available leverage is 1:1 to 1:500. So this is rather relative.

Admiral Markets offers the following leverage per instrument for retail clients:

Offering a maximum leverage of 1:500 seems absurdly high, even for professional traders.

Is Admiral Markets reliable?

Regulation

All information about Admiral Markets’ registrations can be found on the company’s website. Admiral Markets is regulated and registered in several countries. Some prominent examples are the FCA (Admiral Markets UK Ltd), CySEC (Admiral Markets Cyprus Ltd), BaFin (registration) and the Australian Financial Services Licence (AFSL). Upon request, Admiral Markets announces that the number of licenses for the Middle East and Asia will be further expanded in 2020.

Admiral Markets is well regulated and transparent in its reporting.

Awards and Prizes

Most major brokers participate in annual broker comparisons and surveys among traders. Especially in Germany, participation by brokers is customary.

Admiral Markets has been chosen by traders in Germany as the most reliable forex broker and most reliable CFD broker for several years in a row. This is nice, but in our opinion it says a lot about the transparency of Admiral Markets as a broker.

In February 2020, Admiral Markets won the so-called Global Banking and Finance Review award for the best forex company in 2019 in Germany, Estonia and Spain.

Protection of client funds

For the purposes of this review, we have only looked at the protection that applies to clients of Admiral Markets who fall under the supervision of the FCA (Financial Conduct Authority). On the Admiral Markets website, however, the “about us” section directly explains how client funds are protected.

Client assets are held in a separate (segregated) account with a reputable European bank and are protected by the Financial Services Compensation Scheme (FSCS). Open positions are protected up to GBP 85,000. Admiral Markets compensates deficits for professional clients up to a maximum of GBP 50,000 per client. Retail clients have full and unconditional account deficit protection on a per account basis. This is what is known as negative balance protection, which is now a statutory requirement.

The bank that Admiral Markets uses to hold client funds is also subject to the FSCS. Any lost funds are covered up to a maximum of GBP 85,000 per client.

Depositing and withdrawing funds at Admiral Markets

Depositing money is possible in most national currencies. These are then converted into EUR, GBP, USD and CHF (Swiss Francs). Admiral Markets offers the possibility to open multi-currency accounts (in EUR, GBP, USD and CHF). These can be used to protect your capital against currency fluctuations. Not all brokers offer the possibility to hold capital in multiple currencies. Money can be transferred between different accounts via an internal booking.

What is especially positive is the so-called wallet function, which is present in the customer portal. The Admiral Markets wallet is a central wallet that can link trading accounts to funds in bank accounts, e-wallets, credit cards and the like. Customers can deposit funds directly to the wallet without having to fund separate trading accounts. This also protects deposited funds against open positions on the trading account. Furthermore, the wallet offers the possibility to hold several balances in various currencies.

On the website of Admiral Markets you can find various options for depositing money. It is immediately noticeable that it is currently not possible to make deposits via PayPal. However, Admiral Markets indicates via e-mail that the possibility to make deposits via PayPal will be added shortly.

Compared to other brokers, Admiral Markets offers very flexible options for depositing and withdrawing money, and holding capital in different currencies.

Minimum deposit

As we have already indicated, customers can deposit money in various currencies. The minimum deposit for a trading account with leverage is 100 EUR, USD, GBP or CHF. Clients wishing to use an Admiral Invest account, which is not leveraged trading, can deposit funds to their account with an amount of 1 EUR, USD, GBP or CHF.

Please note that currency types available worldwide may vary by region.

Conclusion reliability Admiral Markets

Admiral Markets presents itself as a reliable, well-regulated broker. Based on the above, we can confirm this image. It is particularly positive that Admiral Markets has good local visibility and presence. In addition, the awards and prizes won by Admiral Markets give the impression of a broker that is constantly improving itself.

In this article you can read more about choosing a good broker.

Experiences with trading platforms

Available platforms/software

Admiral Markets is a so-called MetaTrader broker. This means that Admiral Markets offers trading platforms that originate from the company MetaQuotes Software. The MetaTrader trading platforms are the most popular among retail traders in the world.

Admiral Markets offers MetaTrader 4, MetaTrader 5, MetaTrader Webtrader and MetaTrader Supreme Edition.

MetaTrader 4: MT4 is a downloadable trading platform for trading forex and CFDs. MT4 is available for PC/Mac or mobile.

MetaTrader 5: MT5 is a downloadable multi-asset trading platform for trading forex, CFDs and a number of exchange-traded instruments, such as stock CFDs, and futures. MT5 offers free market data and news.

Both MT4 and MT5 offer automated trading via trading robots.

MetaTrader Webtrader: Webtrader is a web-based trading platform that allows traders to trade directly in the browser, without the need to install or download a trading platform. Webtrader is available for MT4 and MT5.

MetaTrader Supreme Edition: Supreme Edition is a downloadable professional and user-friendly forex and CFD trading platform. Suprime Edition is actually a so-called plug-in, which is equipped with a number of extra innovative functionalities. Some examples are receiving real-time economic news and technical analysis with Trading Central. We will come back to this later in this review. MetaTrader Supreme Edition is available free of charge at Admiral Markets for demo and live accounts.

The fact that Admiral Markets does not offer its own trading platforms has both advantages and disadvantages. This is in fact relative, as the requirements that traders have for a trading platform can differ from each other.

MetaTrader’s trading platforms are known worldwide as good stable platforms with many possibilities for expansion with plug-ins, or automatic trading. The MetaTrader offer of Admiral Markets is, partly due to the Suprime Edition, more than sufficient for beginners and advanced traders. Traders who have experience with MetaTrader can easily switch to Admiral Markets. Since MetaTrader is widely used, there is a lot of educational material available about the use of MetaTrader, both online and offline.

MT4 and MT5 are downloadable trading platforms. Traders who want to make use of the possibility of automatic trading, by means of so-called Expert Advisors (EA’s), should be online with their trading platform. To ensure that trades are still executed when a PC is switched off, auto traders will need to purchase a so-called VPS connection. There are brokers who profile themselves in the market by offering their own trading software. It goes without saying that these types of brokers are more flexible in the way they offer their platform, in terms of the product range and for example the layout or the appearance of the platform offered.

Available apps

MetaTrader 4 and MetaTrader 5 apps are available for Android and iOS. There is also an Admiral Markets app available. With this app, the client portal and the web trader are accessible.

Available account types Admiral Markets

Admiral Markets offers the following account types: Admiral Markets MT4. Admiral Prime MT4. Admiral Markets MT5 and the MT5 Invest account.

The Admiral Prime MT4 account is an account where instead of spreads, a commission is charged per transaction. The MT5 Invest account is an unleveraged investment account. Admiral Markets currently offers over 4350 stocks and over 200 ETFs for retail clients.

Admiral Markets Islamic account

For traders with the Muslim religion Admiral Markets has an Islamic account available. This account allows trading under the standard terms and conditions, but without interest charges. The so-called swap-free option is available on the Admiral Markets MT5 account and ensures that Muslim traders do not pay swaps or interest on CFDs on currency pairs, indices, commodities, stocks, ETFs and bonds.

Charges and Spreads

All fees and spreads can be found directly in the menu on the Admiral Markets website. The information offered per product (under contract conditions) is very detailed. However, we do have to click through a lot to reach the page where the charges are shown.

As stated, Admiral Markets offers the so-called Admiral Prime MT4 account, which instead of spread charges a fixed commission per trade. This also means that Admiral Markets charges spreads from 0.0 pips. Please note that spreads and commissions are charged per half trade (per half turn or single side). This means that when opening and closing a trade spread or commission is charged.

The spreads and commissions charged by Admiral Markets are competitive and in line with the market. What is striking is the sharp spread that is charged for trades on the German DAX30. Admiral Markets charges a customary spread of 0.8 pips for this market. Most providers of the DAX30 offer a spread starting at 1 pip spread, but we also see providers that charge an even higher spread.

There are no fixed costs involved in opening and maintaining a trading account with Admiral Markets. This is no longer common nowadays. Admiral Markets will charge an inactivity fee of 10 euro per month, when an account with a balance has not been used for 24 months.

Order execution

A reliable and fast order execution is important for every trader. Admiral Markets itself indicates that 90% of orders are executed within 150 milliseconds.

Admiral Markets volatility protection

What immediately strikes us is that Admiral Markets actively offers a package of advanced order settings designed to mitigate volatility risk during volatile periods.

When trading forex and CFDs, we respond to price movements. The speed and size of price movements is called volatility. Most traders are looking for volatility in the market, as there are opportunities here. However, the degree of volatility is difficult to estimate and is difficult to predict.

Admiral Markets offers the following settings, among others:

  • Limiting maximum slippage on best and stop orders
  • Limiting pending orders that fall into gaps
  • Partial execution of large orders in steps
  • Preventing order execution at wider spreads while there is no “real” movement in the market.

Own experiences with Admiral Markets trading platforms

In the past period we have tested the Admiral Markets MetaTrader 4 trading platform and the MetaTrader 4 Webtrader.

MetaTrader 4

Over the past 7 months we have been actively trading on Admiral Markets’ MT4 trading platform using an automated forex trading algorithm. So far 885 trades have been executed. The experience with the MT4 trading platform has been very good.

Requesting the MetaTrader account at Admiral Markets has been quick and easy. We received all login details for the account directly via email. The execution of trades has been fast, without technical problems or other issues.

MetaTrader 4 Webtrader

We executed a limited number of transactions in the MetaTrader 4 webtrader. Selecting the right market and opening and completing an order ticket is fairly intuitive. A lot of information is available online about the use of MT4 Webtrader.

When using the Webtrader, make sure that there is sufficient fast internet available.

Open a Demo account at Admiral Markets

Traders who choose Admiral Markets can trade completely risk-free with a free demo trading account. Using a demo account provides an excellent opportunity to get to know Admiral Markets trading platforms better before opening a live account. Click here to open a FREE demo account right away!

Experiences with Admiral Markets customer service

Admiral Markets offers support in English, Dutch, German, and the most common other world languages. All contact details can be found quickly on the Admiral Markets website. Admiral Markets can be reached via:

  • A feedback form
  • Telephone
  • Chat
  • Email

On a positive note, Admiral Markets is also easily accessible via all major social media channels.

Admiral Markets can be reached quickly by telephone. Our question about the number of available currency pairs was answered fully and professionally. The chat function at the bottom right of the website also works well. We immediately got in touch with an Admiral Markets employee, although we had to wait a little longer for an answer to our question.

Another positive point is the availability of a telephone Tradingdesk, which is available 24 hours a day from Monday to Friday. The Tradingdesk, for example, allows clients to close open positions by telephone if necessary.

A final striking point is the availability of so-called TeamViewer assistance. Via TeamViewer, Admiral Markets employees provide remote assistance in case of technical problems or problems with downloading MetaTrader, for example. Please note that by using this service, you are granting Admiral Markets temporary access to your desktop or open programs on your computer.

Available analysis tools and educational material

Unlike most MetaTrader brokers, Admiral Markets offers a full range of research tools and educational materials. These are easy to find on the website and clearly arranged.

Education

It is striking that Admiral Markets offers a lot of good educational content and courses. Every visitor to the Admiral Markets website can be trained in the use of the trading platforms offered. In addition, Admiral Markets produces video training courses, online courses, articles, webinars and seminars related to trading and developing trading skills. The information offered is of a high level, easy to understand and very interesting for traders who are at the beginning of their career as a trader.

Research and analysis tools

Admiral Markets clients get free access to the Admiral Markets Premium Analytics portal with real-time market news, technical analysis, economic calendar and global sentiment indicators. The portal is also available on mobile devices. The basic version of the Admiral Markets Premium Analytics portal can also be accessed via a demo account.

The Premium Analytics portal works well. However, it should be noted that the PC version is more user-friendly than the mobile version.

You can find the Trading Calculator via the menu on the Admiral Markets website. This forex and CFD calculator helps you simulate new positions. This allows you to quickly determine the following trading conditions:

  • The underlying market value
  • The result; trying different opening and closing prices is possible
  • The required margin (depending on the leverage)
  • The value of one pip

In our opinion the Trading Calculator is a nice example of offering ease of use.

Distinctive capability Admiral Markets

The distinguishing feature of Admiral Markets consists of offering reputable trading platforms, supported by a very strong package of additional uses and educational content.

Admiral Markets further distinguishes itself by focusing on developing traders’ trading skills and offering services and support in various languages.

Advantages

According to our review, these are the benefits of trading at Admiral Markets:

  • Reliable reputable trading platforms
  • Global presence with local support
  • Well regulated
  • Locally visible
  • Visibly ambitious and progressive
  • Focus on developing customers’ trading skills
  • Extensive package of educational and analysis tools
  • Good reachability
  • Transparent provider

Disadvantages

According to our review, these are the possible downsides of trading at Admiral Markets:

  • No in-house trading platforms
  • No “out of hours” trading possible (trading in markets outside regular opening hours)

Conclusion

Admiral Markets is a good forex and CFD broker with a strong range of products and various additional tools to improve trading results. Admiral Markets is also a good broker for beginning traders due to its extensive educational offering.

Traders using or wanting to use a MetaTrader trading platform will find it difficult to get around Admiral Markets. Admiral Markets offers the entire MetaTrader offering, supplemented with numerous add-ons and trading tools.

For new clients, MetaTrader 5 seems to be the most suitable platform, given the number of instruments that can be traded. Traders who, for example, only trade forex or indices, using Expert Advisors, robots or signals, usually choose MetaTrader 4.

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