Admirals Review 2023 – Everything You Need to Know

Admirals is a popular trading platform with great customer service, a wide variety of asset classes, premium analytics, and integrates with the powerful MetaTrader 4 (MT4) & MetaTrader 5 (MT5) trading applications. 

This award-winning high-leverage broker has been in service for over 20 years and provides 8,000+ instruments for customers.  

This review will cover essential elements including the fees, asset classes, spreads, payment methods, customer service, and more. 

Table of Contents Table of Contents

1. Admirals Review 2023: Pros and Cons
2. What Assets Does Admirals Support?
   1. Forex
   2. Commodities
   3. Indices
   4. Stocks
   5. ETFs
   6. Bonds
3. What Fees Does Admirals Charge?
   1. Non Trading Fees
4. What Trading Platforms Does Admirals Support?
5. Admirals Usability
6. Account Types on Admirals
7. What Payment Methods Does Admirals Support?
8. Admirals Customer Service
9. Admirals Regulation and Client Safety
10. What Countries Does Admirals Accept?
11. How to Use Admirals: Step-by-Step Tutorial
    1. Step 1: Open an Account
    2. Step 2: Complete the KYC Process
    3. Step 3: Download MetaTrader 4 or 5
    4. Step 4: Make a Deposit
    5. Step 5: Place an Order
12. The Verdict
13. References
14. FAQs

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Table of Contents

1. Admirals Review 2023: Pros and Cons
2. What Assets Does Admirals Support?
   1. Forex
   2. Commodities
   3. Indices
   4. Stocks
   5. ETFs
   6. Bonds
3. What Fees Does Admirals Charge?
   1. Non Trading Fees
Show Full Guide
4. What Trading Platforms Does Admirals Support?
5. Admirals Usability
6. Account Types on Admirals
7. What Payment Methods Does Admirals Support?
8. Admirals Customer Service
9. Admirals Regulation and Client Safety
10. What Countries Does Admirals Accept?
11. How to Use Admirals: Step-by-Step Tutorial
    1. Step 1: Open an Account
    2. Step 2: Complete the KYC Process
    3. Step 3: Download MetaTrader 4 or 5
    4. Step 4: Make a Deposit
    5. Step 5: Place an Order
12. The Verdict
13. References
14. FAQs

74% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

What Assets Does Admirals Support?

The following are the main asset classes tradeable through Admirals.

Forex

Through Admirals, Forex trading is available 24/7, five days per week, though over 80 CFDs. Trades can be executed directly through the web browser or through MetaTrader 5 (M5). The platform also features a comprehensive series of blogs, FAQs, and videos outlining what Forex trading is all about.  

At the present time, Admirals offers 82 currency pairs, broken into the 5 major pairs, 23 minor pairs, and 54 exotic pairs. Major pairs include EUR/USD (Euro vs US Dollar), GBP/USD (Great Britain Pound vs US Dollar, USD/CAD, (US Dollar vs Canadian Dollar), USD/CHF (US Dollar vs Swiss Franc), and the USD/JPY (US Dollar vs Japanese Yen). These are the most commonly traded Forex pairs.   

Commodities

Commodities are basic goods (coffee, gas, oil, gold, silver) that tend to be an effective hedge against inflation, and are also useful in times of political uncertainty. In total, there are 29 commodities available for trade through Admirals, accessible via CFDs. These are broken into agriculture (7), commodity futures (11), energy (4), and precious metals (7). 

Commodity futures allows traders to go long or short on commodities, through CFDs. Commodity Futures available through Admirals include Arabica Coffee, Robusta Coffee, US Cocoa, Copper, Cotton, Crude Oil UK, Crude Oil US, Orange Juice, Raw Sugar, White Sugar, and Gold. Commodities CFDs are available for trading with up to 1:500 leverage.

Indices

Indices closely track the movement of a particular asset class or group. They tend to be well diversified and are useful for beginner traders because less skill is needed as opposed to selecting an individual asset.  

Admirals has a total of 42 indices to choose from. Some of the top index CFDs listed on the Admirals platform include the FTSE100, the CAC40, the SP500, and the DJI30. Leverage rates are 1:500, depending on the instrument.

Admirals also tends to have lower spreads on indices compared to its competitors. For instance, both the DAX40 and FTSE100 trade at 0.8, which is a low spread compared to the industry standard. 

Stocks

Stocks are the most commonly used asset class, offering one of the best ways to increase wealth, though they can come with increased risk as opposed to fixed-income products. With Admirals, leverage of 1:20 is available on stock CFDs, and it is possible to earn dividends on long positions. 

Admirals offers US stocks (Apple, Facebook, Google, Intel, Tesla), EU stocks (Airbus, BMW, BNP Paribas, Deutsche Bank, Total SE), and UK stocks (BP, EasyJet, HSBC, Rolls Royce, Vodafone). Over 3,400 stocks are available through Admiral Group. No extra charges apply on short sales. 

Admirals offers both stock CFDs and shares. With shares, the commission is 0.02 USD and there is no leverage. 

ETFs

ETFs are similar to indices except they have additional benefits such as lower fees and added liquidity. With Admirals, ETF CFDs are available with 1:20 leverage. There is no extra charge for short sales and both long and short positions are available. Dividends can be earned from long positions and direct ownership is not required. 

362 ETFs are presently available with this provider. ETFs can be sorted by exchange or by industry group for convenience. Examples of popular US ETF CFDs on Admirals include Financial Select Sector SPDR Fund, PowerShares QQQ Trust, iShares MSCI Emerging Markets, SPDR S&P500 Trust, and VanEck Vectors Gold Miners. 

Popular EU ETFGs include iShares Core DAX UCITS, iShares Core FTSE 100 UCITS, iShares SMI, LYXOR EURO STOXX BANKS DR UCITS, and Xtrackers DAX UCITS. 

Bonds

Bonds are something of a rarity when it comes to online trading platforms, but this market is catered to by Admirals. Bonds are a form of loan with a fixed or variable rate of return. So money is loaned out in return for a bond rate that is typically between 2% – 6%, depending on how risky the loan is. Bonds are a form of fixed income and a great way to preserve capital. 

Admirals offers leverage up to 1:200 depending on the bond instrument. Such bonds are only available via CFDs. Examples include 10 year US Treasury Notes and Germany Bund Futures – there are only two bonds available, but this is more than other providers who do not offer any. It is possible to go either long or short on a bond and there are no extra charges for short sales. 

What Fees Does Admirals Charge?

There are two main types of fees charged by Admirals. These are the commission fees and the spreads. The spread is the difference between the bid (buy) and ask (sell) price. Commissions are usually very low when charged alongside spreads. 

The exact fees charged per trade will depend on what the instrument is and what the volume is. Higher orders can come with an extra commission. It can also depend on what kind of account the trader has and what region he or she is operating from.  

Commission 

Admirals offer competitive spreads on select trading accounts. MT5 and MT4 account holders will see spreads ranging from 0 pips on Zero account types and from 0.5 pips on trade account types.

There are no extra charges on short sales. Per share commission is as low as $0.02. 

Spreads

Admirals offer low spreads, all things considered, in comparison to most other brokers.

This holds true across the majority of asset classes. 

Non Trading Fees

In addition to spreads and commission, there are a number of non trading fees that users should be aware of.

They are not much, but it’s best to keep on track of them to avoid additional charges.

Deposits and Withdrawals

There is no deposit fee for bank and credit card transfers. One free bank withdrawal per month with a €10 or $10 charge for additional withdrawals. 

Minimum deposits range between $1 and $25, depending on which account type you select.

Currency Charges

If transferring to an account with a separate currency, a 1% currency conversion charge will apply. There are no withdrawal or deposit fees. Trades in Stocks, ETFs, Stock CFDs and ETF CFDs that are quoted in currencies other than the account base currency are also subject to a 0.3% conversion fee. 

Inactivity Charges

Admirals charges a $10 monthly inactivity fee. However, this only applies where there have been 24 months of inactivity, which is about 12 months longer than most other providers allow for. This only applies to accounts with a positive balance. 

What Trading Platforms Does Admirals Support?

The main trading platforms supported by Admirals include MT4, MT5, and MetaTrader Web. For those unfamiliar with trading, MetaTrader is pretty much the industry standard, when it comes to Forex.

MetaTrader is mainly focused on margin trading. Certain brokerages use MT5 to trade CFDs, though it is not specifically designed for stock or ETF future trading. When it comes to Forex, MT5 is probably the most popular and widely used trading application of all time.

MT4 and MT5 can be downloaded for Android, Mac, and Windows, before being connected to Admirals via an API. Alternatively, it’s possible to use MetaTrader Webtrader which does not require a download.  Advanced traders can further benefit from MetaTrader Supreme Edition, free for live and trading accounts. 

We found the integration between MT5 and Admirals to be perfect in every possible way, though the product itself might take a while to get used to. 

Admirals Usability

Admirals offers a seamless user experience to its clients, thanks to the cross-device availability feature. This means that clients can access their trading accounts on any device – desktops, laptops, tablets, smartphones, etc. Admirals also allows phone sign-in along with email sign-in, which we thought was a nice touch as far as usability was concerned.  

The website and 5-star trading platform have been designed with a mobile-first approach – it’s easy to use on small screens. The platform is also available as a mobile app, which provides all the functionalities of the web-based platform in a compact and intuitive interface.

The interoperability between many divides allows people to trade on the fly without compromising on security, functionality, or usability. We also found that the web platform is easier to navigate in comparison to other brokers – everything is where it should be and easy to find. 

There are 5 major offices with Admirals. There is a different web version based on which one is relevant to you, based on where you are operating from:

• Admiral Markets UK Ltd 
• Admiral Markets Cyprus Ltd
• Admirals AU Pty Ltd
• Admiral Markets AS Jordan Ltd
• Admirals SA (Pty) Ltd 

Other web versions are blocked off if you are not in the accepted location. This is useful as it means you will be directed to relevant material, which tends to be unique to the jurisdiction itself. 

Account Types on Admirals

Account types on Admirals are broken down into 3 main categories on MT5. These are Zero, Invest, and Trade. 

Experienced traders will prefer the Zero and Trade account types. Both have a $25 minimum deposit, 1:500 leverage, 4 base currencies (USD, EUR, JOD, AED), hedging, and market execution. The difference is that the Trade account offers more instruments and slightly lower commissions on most products. 

The Invest account is more applicable to investors as opposed to traders. There is a $1 minimum deposit with no leverage available. The focus here would be for those looking to trade stocks and ETFs, as opposed to futures, FX, and commodities. No hedging is available. 

Admirals further offers Islamic Forex accounts designed specifically for members of this community. The Islamic Forex account is swap-free with zero interest paid or received throughout the entirety of the contract.

What Payment Methods Does Admirals Support?

Admirals supports three primary payment methods. These are:

• Bank transfer
• Credit and Debit cards
• Perfect Money

Deposits are free with Admirals with one free withdrawal per month. Withdrawal can be done through either a Bank Account or Perfect Money. After the free withdrawal there is a $10 charge for each additional withdrawal. 

After Admirals has received payment into its bank account, it should be reflected in the customer’s account within 24 hours, according to its terms and conditions. 

Admirals processes withdrawals from the customer’s account on the same business day provided it reaches Admirals before 17:00. Withdrawal requests received by Admirals after 17:00 on business days or on weekends. For holidays, the request will be processed on the next business day. 

Account minimums are $25 on Admiral, but this can be much steeper depending on the margin requirements for specific products. If you are looking for leverage on a particular asset class, then you will undoubtedly have a much higher margin to take note of. 

More details can be found on the relevant Admirals page. 

Admirals Customer Service

Admirals delivers an above-average quality of customer care. The knowledge base is very streamlined and covers useful information, particularly in terms of getting started on the platform regarding compliance and documentation.

We really liked the fact that Admirals have a dedicated email address and telephone for each specific country that can be looked up.  

Admirals has an email response time of up to 24 hours and a list of over 20 supported languages, including English, German, French, Dutch, Italian, Romanian, Spanish, Spanish (Latin America), Portuguese, Latvian, Lithuanian, Estonian, Russian, Hungarian, Polish, Croatian, Czech, Bulgarian, Slovenian, Indonesian, Arabic, Bengali, Khmer, Korean, Swedish, and Danish. A personal account manager is also available. 

Admirals Regulation and Client Safety

Admirals operates mainly in the EU, Asia, Australia, and the UK, covering the main economic bases and complying with all relevant authorities. The following are the regulatory groups that this platform complies with: 

• Australian Financial Services License (Australia)
• Cyprus Securities and Exchange Commission (Cyprus)
• The Financial Conduct Authority (United Kingdom)
• Financial Supervision Authority (Estonia)
• Companies and Intellectual Property Commission (South Africa)
• Jordan Securities Commission (Jordan)
• Financial Supervision Authority (Estonia)
• Canadian Investment Regulatory Organization (CIRO)
• Financial Services Authority (Seychelles) 
• Capital Markets Authority (Kenya) 

The group has been around since 2001 with a powerful international presence.

Client funds are held in reputable Tier 1 banks in segregated accounts separately from the company funds. Additional insurance coverage is provided up to $100,000 USD. Insurance covers theft or insolvency, not trading performance. 

What Countries Does Admirals Accept?

Admirals accept residents of all developed nations with the exception of the USA, Canada, and Japan at the current time. Residents of these countries are eligible only for a demo account. 

The following is a list of countries not accepted by Admirals. 

How to Use Admirals: Step-by-Step Tutorial

Opening an account with Admirals is relatively straightforward. Let’s go through it piece by piece. 

Step 1: Open an Account

The first stage is the sign up process. 

For this, you will need to enter your country of residence, name, email address, and telephone number. After you have signed up, you have completed the basic step that allows access to deposits, withdrawals, demo, and live accounts. 

Remember to use the official link for the sign-up process. 

Step 2: Complete the KYC Process

The KYC process is standard across most platforms. You will be required to provide proof of identity, such as a passport or national identity. You will also be asked for proof of address, such as a bank statement or utility bill.  

Identity verification should not take longer than a couple of days. Other details like tax identification numbers and legal status are filled in through this dash for tax and compliance purposes. 

Step 3: Download MetaTrader 4 or 5

Go to the official MetaTrader page and down MT4 or MT5 to your computer (Mac or Windows).

Alternatively, you can use the MetaTrader web browser. Either way, you will be using some version of MetaTrader to facilitate the trades. 

Step 4: Make a Deposit

Make a deposit to your account in a currency of your choice. 

Deposits can be made by bank transfer, credit/debit card, or perfect money. It’s free to deposit.  You can also open a demo account and trade up to $10,000 in virtual funds as a test to see if it is for you. 

Step 5: Place an Order

The final step is to find your market, select an asset or pair, and execute the transaction. 

After this step has been fulfilled, you are up and running with Admirals. 

The Verdict

Admirals is a 20-year trading provider with stellar ratings on Trust Pilot and a large range of assets to choose from, even extending to Bonds. It further offers an Islamic trading account and provides MT4 and MT5 integration. 

We think this is an excellent provider with great customer service that provides key elements that other platforms ignore. It’s also a low-fee platform that caters equally well to both investors and seasoned trading professionals, looking to utilize MT5 Premium to its maximum potential. 

74% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

References

• https://admiralmarkets.com/
• https://www.trustpilot.com/review/admiralmarkets.com
• https://www.sofi.com/learn/content/benefits-of-ETFs/
• https://www.londonstockexchange.com/indices/ftse-100
• https://www.bloomberg.com/markets/rates-bonds
• https://www.morningstar.com/markets
• https://www.cnbc.com/2021/07/01/investing-in-the-stock-market-is-one-of-the-best-ways-to-build-wealth.html

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