Admiral Markets was established in 2001. It is owned by Admiral Markets group AS which has its head offices in Estonia which is a leading holding company. However, Admiral Markets is operated by other subsidiary companies. This broker has been regulated by Estonian Financial Supervision Authority (EFSA) and Financial Conduct Authority (FCA), financial regulatory agencies. This international forex broker has its main focus on providing a good online trading service for CFD and currencies. It does the Contract for Differences (CFD) in the area of precious metals, equities, market indices, and energy. It primarily has a focus on 145 instruments which include 90 CFDs and 55 forex pairs. The MT advanced traders choose this broker for its premium features such as the MT4 supreme add-ons, the good platform, and research tools.
Trading platforms and tools
The Admiral Market has MetaTrader4 as its main platform which exists as a standard PC and Mac desktop client. It also has a multi-terminal in case you want to trade multiple accounts. The mobile applications are available for iPad, iPhone and android trader for Android devices and a Windows Mobile which is a platform exclusively for windows smartphone user. In case you are trading CFDs, they have a CFD Trader platform specifically for this kind of trade.
AdmiralMarket also has a MetaTrader5 platform which supports automated trading systems. The MT4 comes with a standard interface but the platform will differ from broker to broker depending on the execution method, pricing, and other administrative areas. The prices of assets on the platforms are updated very fast with a high frequency of price tick updates. It reflects the agency-broker execution method offered by Admiral Markets as very good. This MT4 platform stands out from the rest due to its MT4 Supreme offering. This offering consists of 12 expert advisors and 20 custom indicators that are branded by Admiral Markets enhancing the MT4 experience.
The tools are found as part of the supreme add-ons after you install the separate MT4 supreme package and launch the MT4 platform. Some of these tools are the news events on the chart, candle countdown timer and a spread widget. They also include tools to help control risks such as slippage and market gaps. Overall, Admiral Markets has improved the basic MT4 experience through the many add-ons.
This broker has a number of account options that you can choose from depending on your preference and what you want to trade. There is the Admiral.Standard account which is the entry level for beginners and those who are using little money. You can have up to 10 standard accounts. This account allows for 30 forex pairs, 2 spot metals, and 39 different CFD assets. The spot metals can be silver or gold.
The Admiral.Pro account is the ECN account offered here with features such as access to Autochartist plug-in, one click executions, and a no-requote five digit pricing model. The scalpers and day traders are attracted to these features. On this account, you can also trade on micro-lots which is very uncommon for other ECN platforms.
There are other accounts available such as Admiral.MT4(build 625) which is a revamped platform that combines features of MT4 and MT5, Admiral.CFD for CFD trading in European Union traders, Admiral.Currensee and Admiral.Gold account in which transactions and trading units is gold.
Admiral Markets also offers demo accounts for the standard and CFD accounts for people to be able to practice on Forex and another trading with these virtual accounts.
Deposits and Withdrawals
Any trader can withdrawal and deposit cash using Bank wire for users of admiral markets’ SEB bank. You can use cards issued by VISA, MasterCard, American Express, JCB and Diner’s club for both withdrawing and deposits. Other online payment platforms used are Skrill, Envoy, and Wirecard.
The minimum deposit is dependent on which account you open. The standard account requires a minimum of 10EUR/USD while for the Pro, MT4/MT5 accounts, as well as the Admiral Currensee accounts, require a minimum deposit of $1000. The Admiral CFD accounts require a minimum deposit of $2000. This is why the beginner traders begin with the standard accounts and then they can graduate to these other advanced accounts.
For all the accounts though, the trade sizes start at 0.01 lots. The minimum you can withdraw in Admiral Markets is $500 for bank wires and $100 for the other payment methods.
Leverage, Commissions, Spreads, and Bonuses
There is the ForexBall international Trading Contest which is awarded to the winners after creating demo accounts. The prizes go up to $541,000. This promotion is lucrative providing comprehensive training opportunity for all interested participants. There are periodic account bonuses awarded for deposits and non-deposits. The bonuses are however not fixed and traders get to negotiate with account officers on these amounts.
Leverage offered is 1:500. The minimum spreads start from 0.2 pips for Admiral.MT5 and 0.8 for the standard account. There is a small commission of $35 per million notional values for the Admiral prime account and o.oo3% of trading volume for the Admiral MT5 account.
Customer Support and Education center
Books, webinars and knowledge bases are available for traders to learn what they need to learn when trading. You choose on which format you find preferable to you. You can contact them via telephone and on live chat. On office hours live chat is available in many languages but the English live chat is available 24hours on every business day.
In addition, this broker offers remote support for anyone interested. This is in the case of a problem concerning the MT4 basic or supreme edition platforms. You can email them too at [email protected]
- They have a comprehensive education center that is analytic and flexible for any trader
- This broker offers a number of account options for the traders- One is not limited to the standard account and you can upgrade to the other more advanced accounts
- This is regulated and licensed broker. This means that you are protected from any online fraud or loss of personal information
- The customer support is available in multiple languages. This means that you don’t have to struggle to translate
- They have so many trading platforms with exemplary tools to improve your trading experience.
- There is no web-based platform. The available platforms all involve installations.
What makes Admiral Markets stand out from the other brokers is their ability to offer comprehensive education platform. It is because of this that they were awarded 2 awards from the Financial Review Smart Investors financial magazine in 2013. This was under the categories “Best of forex for novice traders” and “Best of forex for experienced traders”. It is also easy to navigate through their different platforms.