Admirals Broker Review

4.5/ 5

EUR, USD, GBP, CHF, BGN, CZK, HRK, HUF, PLN, RON, RUB, AUD, ZAR

0.80 pips

USD 8

0.10 pips

0.60 pips

0.30 pips

USD 0

3/ 5

USD, EUR, GBP, AUD, JPY, BTC, PLN, CZK

2.20 pips

USD 22

0.00 pips

USD 0

4.5/ 5

AED, CAD, EUR, GBP, JPY, NZD, PLN, SGD, USD

1.00 pips

USD 10

0.00 pips

0.10 pips

USD 0

Swap Fees

Admirals charges swap fees for positions that are held overnight. Interest is paid (or received) for each night a position is held. In the case of Forex instruments, the amount charged depends on both the positions taken (i.e. long or short) and the rate differentials between the two currencies traded. Admirals’ swap rates are published on its website for each financial instrument.

In combination, the low minimum deposit requirements and low overall trading costs, Admirals is a good choice for both beginners and experienced traders alike.

Admirals’ Non-Trading Fees

Admirals charges high non-trading fees compared to other STP brokers.

Admirals charges 1% for deposits for currencies that are different to those supported by the broker, and only allows five free ewallet deposits per 24 hours. It also only allows one free withdrawal per month (click here for more details on Admirals’ deposits and withdrawals). In addition, Admirals charges a currency conversion fee of 0.3%, which is higher than other similar brokers.

Like most other brokers, Admirals charges an inactivity fee on dormant accounts. The fee is 10 USD per month after 24 months of account dormancy, which is around the industry average.

Overall, Admirals’ non-trading fees are significantly higher than most other brokers.

What is the minimum deposit at Admirals?

The minimum deposit requirement at Admirals is 25 USD across all account options, which is lower than other STP brokers.

Opening an Account at Admirals

The account opening process at Admirals is as per the industry standard.

All Filipino traders are eligible to open an account at Admirals, as long as they meet the minimum deposit requirements.

Creating an account is straightforward, the process is fully digital, and accounts are usually ready within one day. Admirals offers accounts for individuals and legal entities, but we will focus on opening an individual account:

How to open an account at Admirals:

New traders will have to click on the “Start Trading” button at the top of the page where they will be directed to register an account.
Admirals’ intake form requires clients to fill in their personal details (including name, country of residence, email address, birth date).
Admirals requires at least two documents to accept you as an individual client:
1. Proof of Identification – Admirals accepts all government-issued identification documents such as Passport, national ID card, driving license, or other government-issued ID. The document must be valid and must contain a trader’s full name, date of birth, a clear photograph, issue date, and if it has to have an expiry date, that should be visible as well. If the document has two sides, then scans of the front and back sides must be uploaded.
2. Proof of Address – Proof of residence/address document must be issued in the name of the Admirals account holder within the last 6 months and must contain a trader’s full name, current residential address, issue date, and issuing authority.
Once this step is complete, clients are required to fill out a questionnaire that helps Admirals assess the trader’s investment knowledge, experience, and expertise to deem the suitability and relevance of the services on offer. While most brokers don’t include this step in the account-opening process, it is a responsible move in an industry that is often accused of an irresponsible approach to consumer protection.
After the application is approved, traders can log in and fund their accounts
We advise you to read Admirals’ risk disclosure, customer agreement, and terms of business before you start trading.

Overall, Admirals’ account-opening process is quick, efficient, and accounts are generally ready for trading within one business day.

Admirals’ Account Types

Admirals offers four account types, which is more than most other brokers, and the accounts are suitable for beginners and more experienced traders alike.

With four live market execution accounts, trading is offered on multiple assets, including forex, commodities, shares, indices, ETFs, and bonds (click here for more on Admirals’ financial assets). Admirals offers maximum leverage of up to 500:1 and allows all trading strategies, including hedging, scalping, and algorithmic trading, but traders should note that Islamic Accounts are only available on the Trade.MT5 account.

All account-holder have access to Market News and Analysis by Dow Jones, Trading Central, and the Metatrader Supreme Edition add-ons (click here for more on Admirals’ trading tools). Support is offered for both the MT4 and MT5 platforms, and features vary depending on the platforms chosen (click here for more on Admirals’ trading platforms).

Filipino traders will be pleased to note that Admiral Markets offers Islamic swap-free trading on its MT5 accounts. However, any trades open with a holding period of more than 3 days (1 day for digital currencies and exotic currency pairs) are charged a flat administration fee depending on the instrument.

Admirals’ accounts are suited to both beginners and more experienced traders. We define beginner traders as inexperienced traders who have never traded before or have been trading for less than a year. Beginners often do not want to risk trading large sums of money, and will generally not be able to trade full-time during the workweek. All Admirals’ accounts have a reasonable minimum deposit requirement of 25 USD, putting it within the reach of beginner traders.

While experienced traders often prefer higher minimum deposits and tighter spreads, in exchange for a commission per lot, Admirals offers a low-cost trading environment across all accounts and a wide choice of tradable assets, making it appealing to more experienced traders.

Account Types

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Display Name

Min. Deposit

Max. Leverage

Min. Spread

Commission

Trade.MT4

USD 100

500:1

0.80

Spread Only

Trade.MT5

USD 100

500:1

0.80

Spread Only

Zero.MT4

USD 100

500:1

0.10

6 USD / lot

Zero.MT5

USD 100

500:1

0.10

6 USD / lot

Demo Account

The demo account is a live market experience available for 30 days. The demo account will become unlimited in time for those that open a live account. Included is a balance of 10,000 USD, offering a real trading experience. Additionally, demo accounts can mirror any of the live accounts on offer.

Trade.MT5

The Trade.MT5 Account has a minimum deposit requirement of 25 USD, leverage up to 30:1, and no commissions are charged for Forex trading. Spreads start at 0.80 pips for the EUR/USD, and it is available as an Islamic swap-free account. See below for a list of trading instruments:

Currency pairs – 39
Metal CFDs – 5
Energy CFDs – 3
Agriculture CFDs – 7
Index Futures CFDs – 24
Commodity Futures – 11
Cash Index CFDs – 19
Stock CFDs – over 3350
ETF CFDs – over 300
Bonds CFDs – 2

Zero.MT5

With a minimum deposit requirement of 25 USD, the Zero.MT5 account has spreads starting at 0.0pips on the EUR/USD, and a commission of between 1.8 and 3 USD is charged per lot per side (see below for commission structure). It also offers trading on the following trading instruments:

Currency pairs – 45
Metal CFDs – 3
Cash Index CFDs – 10
Energy CFDs – 3

Trade.MT4

The minimum deposit on this account is also 25 USD. Spreads start at 0.5 pips (EUR/USD) on this account, and no commissions are charged. Note that there are no Islamic swap-free options on this account. See below for a list of trading instruments:

Currency pairs – 37
Metal CFDs – 4
Energy CFDs – 3
Index Futures CFDs – 3
Cash Index CFDs – 16
Stock CFDs – 78
Bonds CFDs – 2

Zero.MT4

The minimum deposit is 25 USD on this account, leverage is up to 30:1, and spreads start at 0.0 pips on the EUR/USD. A commission of between 1.8 and 3 USD is charged per side per lot traded, dependent on the trading volume (see below for commission structure). This account does not offer Islamic swap-free options. See below for a list of trading instruments:

Currency pairs – 45
Metal CFDs – 3
Cash Index CFDs – 10
Energy CFDs – 3

Commission Structure

A commission is charged per lot on Zero.MT4 & Zero.MT5 accounts. This is a commission for a single side trade. Commission for a round turn trade (opening and closing) is doubled and is fully charged at the opening of the order. The following table shows the commission structure in USD:

Overall, Admirals’ trading costs and minimum deposit requirements are lower than other similar brokers, and it offers trading on a wide range of assets, making it appealing to both beginners and experienced traders alike.

Deposits and Withdrawals

Admirals offers a limited number of funding options compared to most other brokers. Additionally, deposit and withdrawal fees are high for currencies other than those supported by Admirals, and its processing times are slow.

As a well-regulated broker, Admirals does not process payments to third parties. All withdrawal requests from a trading account must go to a bank account or a source in the trader’s name.

Deposits can be made via credit cards/debit cards, e-wallets (Skrill and Neteller), and bank transfers. Note that Filipino traders can only deposit funds via bank transfer and credit cards or debit cards. Credit cards/debit cards are processed instantly, but deposits via wire transfer can take 3 bank days to reflect. No commissions are charged on deposits or withdrawals, but should the base currency of a client’s trading account differ from the base currency of the transferred funds, the amount transferred will be converted to the base currency of the client’s trading account, and a 0.3% fee will be charged.

Withdrawals are only available via wire transfer, with a processing time of 1-3 business days. A fee of 3 USD (or equivalent) is charged for domestic transfers and up to 20 USD for international transfers. See below for details:

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Funding Method

Base Currency

Deposit Fees

Withdrawal Fees

Processing Time

Bank Transfer

JOD, AED, USD, EUR

FREE (but currency conversion fees apply)

A fee of 3 USD (or equivalent) is charged for domestic transfers and up to 20 USD for international transfers.

Local Bank Transfer within 24 hours, International Bank Transfers up to 5 days.

Klarna

EUR

FREE

No withdrawals allowed

Deposits are instant, withdrawals N/A.

Mastercard

JOD, AED, USD, EUR

FREE (but currency conversion fees apply)

1 free withdrawal request every month

Deposits are instant. Withdrawals take up to 3 business days.

Skrill

JOD, AED, USD, EUR

0.9% or a minimum of 1 EUR or USD

1 free withdrawal request a month, thereafter 1% of the withdrawal amount

Deposits are instant, withdrawals can take up to 3 days.

Visa

JOD, AED, USD, EUR

FREE (but currency conversion fees apply)

1 free withdrawal request every month

Deposits are instant, withdrawals can take up to 3 days.

Overall, the non-trading fees associated with deposits and withdrawals at Admirals, especially when trading in currencies other than those supported by the company are high. Additionally, Admirals processing times are slower than other similar online brokers, and it offers a limited number of funding methods for Filipino traders.

Admirals’ Base Currencies (Trading Account Currencies)

Admirals offers a limited number of trading account currencies through its JSC subsidiary, including JOD, AED, USD, and EUR. Filipino traders will be disappointed that it does not offer accounts denominated in INR.

Deposits to trading accounts can be made in most national currencies, which are subsequently converted into JOD, USD, EUR, AED, or other applicable currencies. However, Admirals does not support accounts denominated in INR, which means that Filipino traders will have to pay a 0.3% conversion fee on all deposits and withdrawals. Conversion fees can make trading expensive, and affect profitability.

In order to protect your capital from currency fluctuation, you can have multiple trading accounts in different currencies at the same time. This gives traders an opportunity to transfer funds from one account to another through a convenient internal transfer straight from the Trader’s Room (available on Admirals’ mobile app).

Overall, Admirals offers a limited number of trading currencies compared to most other brokers through the JSC subsidiary, but it allows multiple trading accounts in different currencies.

Admirals’ Trading Platforms

Admirals’ trading platforms are average compared to other brokers.

Admirals offer full support for Metatrader 4 and Metatrder 5 in addition to its own customised plugin – the Metatrader Supreme Edition (which will be discussed in detail under trading tools).

The advantage of brokers offering third-party platforms such as MT4 and MT5 is that traders can take their own customised versions with them should they decide to migrate to another broker. Additionally, Admirals offers the Metatrader Supreme Edition which plugs into both platforms. However, these platforms are not as beginner-friendly as the proprietary platforms on offer at other brokers. See below for more details.

MetaTrader 4

MetaTrader 4 (MT4) is still undoubtedly the world’s most popular trading platform for forex traders due to its ease of use, feature-rich environment, and automated trading ability. MT4 is available in over 31 languages.

Features of MT4 include:

A built-in library of more than 50 indicators and tools to streamline the analysis process
An impressive array of 24 analytical tools, available in nine timeframes for each financial instrument.
Three chart types
One-click Trading
Algorithmic trading, which allows any trading strategy to be formalised and implemented as an Expert Advisor.
Customisable alerts
Access to MetaTrader market and MQL4 community.

While MT4 has great customizability, the platform feels outdated, and some of the features may be hard to find. In addition, only the basic orders are available, including Market, Limit, Stop, and Trailing Stop. MT4 is available on PC and Mac.

MetaTrader 5

The MT5 trading platform is being adopted by more Forex brokers all the time. It has a more modern interface, allows for an unlimited number of charts to be used, shows Depth of Market, and has a built-in Economic Calendar. It also has a larger number of pending order types than MT4 and features an embedded chat system. The MQL5 scripting language is more efficient than its precursor, and MT5 has more advanced charting tools than MT4.

Features include:

38+ preinstalled technical indicators
44 analytical charting tools
21 timeframes
Additional pending order types
Detachable charts

MT5 is also available on PC and Mac.

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Broker

Platform Choice

Copy Trading

4.5/ 5

4/ 5

4/ 5

Overall, Admirals’ platform support is about average when compared to other brokers, but it offers its own customised trading tools which integrate seamlessly with MT4 and MT5.

Admirals’ Mobile Apps

Admirals’ mobile trading platforms are average when compared to other similar brokers

Both trading platforms are available on both Android and iOS mobile devices and tablets. Beginner traders should be aware that there is some loss in functionality when compared to the desktop trading platforms, including reduced timeframes and fewer charting options. In addition, spotty connections can reduce the overall trading experience. Generally, it is better to be at your desktop to conduct day-to-day trading and use a mobile device to keep an eye on the markets or close open positions.

The Admirals MT4 and MT5 apps allow traders to work from anywhere, with functionality to close and modify existing orders, calculate profit/loss in real-time and tick chart trading to further assists traders while on the move.

Overall, Admirals’ mobile trading support is about average when compared to other brokers, with no additional support or apps apart from the trading platform’s own mobile applications.

Trading Tools

Admirals trading tools are superior compared to those offered by other similar brokers. The MetaTrader Supreme Edition is one of the best MetaTrader plugins on the market. Integrated into the Metatrader Supreme Edition is Trading Central and a number of other useful tools. It also offers a VPS service.

Admirals has partnered with Trading Central to integrate its indicators (Forex Featured Ideas and Technical Insight) into the MetaTrader Supreme Edition. These two highly customisable tools provide pattern recognition and technical analysis for almost all financial instruments. A VPS service is also offered to clients who maintain an equity amount of 5000 EUR (or equivalent) in their trading accounts.

Metatrader Supreme Edition

Trading Central

A third-party tool, Trading Central’s professional analysts use the most advanced technical analysis tools in the industry to gather the most comprehensive and in-depth market information. This tool essentially supports traders without the technical know-how in making trading decisions. This dynamic product suite is available to traders through the MetaTrader Supreme Edition. Trading Central is considered one of the best trading tools in the industry, and Admirals does well to offer this tool to its clients.

Global Opinion Toolset

Also included in the MetaTrader Supreme Edition is the Global Opinion toolset. These tools scan and contextualise millions of financial news stories and social media posts daily, giving traders a dynamic view of market sentiment. They can drastically reduce the length of time traders need to spend on daily research by flagging-up the best assets to trade and warning of changes in the market that may impact trade success.

Mini-Terminal

Additionally, a new mini-terminal facilitates trade management by making commonly-used trading features more accessible than in the native version of the software. A mini-chart feature also lets traders see multiple time frames and chart types in a single chart.

An additional Trade Terminal feature helps traders manage multiple orders concurrently, using the same advanced trade management features of the mini-terminal.

Tick Chart Trader

Tick Chart Trader allows clients to trade tick charts fast and accurately. An additional Indicator Package with the latest indicator technology delivers more chart information and trading signals within the trading tool.

Trading Simulator

Finally, a trading simulator is available to backtest strategies on historical price data. Until this feature was conceived, traders were limited to testing strategies with a demo account in real-time. The trading simulator enables traders to test multiple strategies on the same data set to find the optimal strategy for different market situations.

VPS

Admirals offers a VPS (Virtual Private Server) service for traders who deposit more than 5000 EUR in their trading accounts. VPS hosting allows traders to run automated algorithmic strategies, including expert advisors 24 hours a day 7 days a week on a virtual machine. VPS services have the advantage of never suffering connectivity issues and have extremely low latency due to their proximity to major international exchanges.

Overall, Admirals offers a much more comprehensive set of trading tools than is available at other similar brokers.

Admirals’ Financial Instruments

The choice of financial assets offered by Admirals is wider than other similar brokers.

Admirals’ range of financial instruments for CFD trading, includes Forex, shares, commodities, bonds, ETFs, cryptos, and indices.

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Financial Instrument

Number of Assets

Leverage

Bonds

200:1

Commodities

50:1

Cryptocurrencies

10:1

Stock CFDs

3,429

10:1

ETFs

362

200:1

Forex

500:1

Indices

200:1

Metals

500:1

Forex: Admirals has over 50 currency pairs available for trading which is around the industry average. These include majors (EUR/USD, GBP/USD, and USD/JPY), minors (NZD/CAD, EUR/JPY, and USD/ZAR), and exotics. The leverage on Forex pairs is up to 500:1.
Share CFDs: Admirals offers 3288 share CFDs, which is more numerous than other large international brokers. The selection available includes some of the major US, UK, and European Exchanges. Leverage on share CFDs is up to 10:1.
Indices: There are 43 indices available for trading at Admirals, which is more than is available at other similar brokers. The most popular indices are those that combine the shares of some of the largest and globally acknowledged companies. Leverage is up to 1:200 on indices.
Commodities: Admirals offers trading on 28 commodities, which is a much broader range than is commonly available at other brokers. Most other brokers offer between 5 and 10 commodities. Commodities include metals such as gold and silver, energies such as oil, and softs such as sugar, cocoa, and cotton. The leverage is up to 1:50 on commodities.
Bonds: Like other brokers, Admirals offers trading on two bonds, namely the 10-year Germany Bund Futures CFD and the 10-year US Treasury Note Futures CFD. Leverage on these bonds is up to 1:200.
ETFs: Admirals offers trading on 375 ETFs, which is a wider range than is offered by other similar brokers. Trading is up to 1:200 on ETFs.
Cryptocurrencies: Cryptocurrency trading is only offered under the Admirals’ subsidiaries that are regulated by CySEC and ASIC. Leverage on these pairs is up to 1:10, long and short positions are available, and spreads are variable. Spreads are wider than for Forex, but this in line with industry norms. As of this writing, 22 cryptocurrency pairs (including Bitcoin, Ethereum, Litecoin, and Ripple) with Fiat currencies are offered, and 10 cryptocurrency cross pairs.

Overall, Admirals offers a much broader range of tradable instruments than other brokers and really outshines its competitors in its commodity, share CFD, and cryptocurrency offerings.

Admirals for Beginners

Admirals has invested heavily in helping new traders find their feet, offering an extensive library of educational articles, tutorials, and webinars. For clients looking for active support, the MetaTrader Supreme Edition provides Trading Central chart analysis and analyst recommendations.

Educational Material

Admirals offers an excellent educational repository that is suited to traders of all experience levels.

The educational material available through Admirals is extensive and varied. Split into different sections, Admirals offers a structured course, a knowledge base, an overview of risk management, and frequent webinars.

Admirals also provides a free, structured Forex and CFD trading course called Forex 101, designed to help beginners learn how to trade. It is a collection of nine online lessons split into beginner, intermediate and advanced stages, and all lessons are taught by professional traders. The course covers everything from setting up MT4 to managing risk and is an excellent resource for new traders.

The articles and tutorials section covers Forex Basics, Forex Analysis, Forex Strategy, Forex Indicators, Trading Psychology, Trading Software, Automated Trading, and Cryptocurrencies. This section is best used as a knowledge base or as an additional resource once the Forex 101 course has been completed. A separate glossary is on hand to help beginners with new terminology.

The risk management section covers best practices, an introduction to leverage and leverage effect, and how rapidly moving markets can create gaps in charts.

admiralmarkets-risk-management — *Admiral Markets Risk Management Process Education*

Admiral Markets also provide expert-led webinars. Webinar topics include commentary on the upcoming week or educational webinars like Mastering the 4Ms of Trading, which help traders develop trading skills and build confidence.

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Broker

Beginner Course

Advanced Course

Well Structured Education

Education Quality

Webinars

High

High

Medium

Overall, Admirals’ education section is comprehensive, in-depth, and caters to both beginners and more advanced traders.

Analysis Material

Admirals market research materials are comprehensive and well-structured, and compare well to other large international brokers.

Trading News: The Trader`s Blog, which is open to all clients, provides daily economic news and context or analysis to help traders find new opportunities through insightful and practical market information. Other articles include a more in-depth analysis of a specific subject.
Market Heat Map: The Market Heat Map is a real-time visual method of following asset price movements and obtaining daily trading data from the FX and CFD markets. This tool highlights the most volatile assets, and thus presents various trading opportunities.

Admiral Markets Market Heat Map

Market Sentiment: The Market Sentiment tool is a visual interpretation of aggregated data from multiple service providers showing the relationship between open long and short positions. Market sentiment data is useful to help understand macro trends and the mood of the trading collective. This information is especially useful for traders holding positions for long periods.
Premium Analytics: Launched in September 2019, Premium analytics was launched with free access for demo and live accounts. With it, premium data feeds are used to deliver the best information to traders. This video (33 minutes) is a full tour of the product.

Weekly Podcast: Admirals delivers a weekly podcast that covers the most engaging and informative trading news and analysis possible. New podcasts will be available every Monday, covering the economic news and events of the past and coming week, as well as offering market analysis and trading strategies.
Forex calendar, or economic calendar: A list of scheduled events that could affect the currency markets.

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Broker

Economic Calendar

Autochartist

Trading Central

Trading View

Free VPS