Admiral Markets Review 2021

Minimum Spread :   From 0.01
Foundation Year :   2001
Min Deposit $ 200
Broker Trusted Point+2
RECOMMENDED BROKER

What is Admiral Markets? 

Admiral Markets was founded in 2001, and the services of the broker are still stuck in that year. It is one of the oldest financial service providers but still lacks many essential services and functionalities. Admiral Markets have three websites that create confusion. The user interface is too complicated and hard to hold. 

Admiral Markets Scam or Safe? 

The broker has three different websites for different business entities; Admiral Markets Cyprus Ltd, Admiral Markets UK Ltd, and Admiral Markets Private Ltd. The broker’s risk disclaimer clearly directs that it does not take any responsibility for the safety and losses of the capital. They only provide trading platforms, and traders have to take full responsibility for any losses and frauds that may occur. At the same time, the broker does not offer any safety features and softwares like SSL or Firewalls to protect and safeguard the transactions and data of the clients. 

It has been ten years since the broker has initialized its operational in the market, and still merged up its operations under a single brand name. It seems that the broker is not efficient enough to handle functions from a single entity under a legitimate regulation. 

We do not think it is relatively safe to trade with Admiral Markets, and one must think twice before putting in the money with the broker. 

Account Types 

Instead of basing account types on different levels of trading (beginner, average, or expert trading), the broker segregated account types on the basis of trading platforms like MT4 and MT5. Such variations do not make sense, especially when all account types offer similar bare minimum features. 

Many renowned firms like HFTrading, ROinvesting offer various trading options in each account type. 

Low Leverage 

The leverage is rendered only on forex and indices trading. Moreover, the leverage goes only up to 1:10 or 1:20. Such low leverage cannot help traders with small funds open up large trading positions. 

Trading charges and fees

  • The minimum deposit to trade with the broker is as high as 200 dollars, looking at the low-quality services rendered by Admiral Markets. 
  • The broker charges a high inactivity fee of 10 Euros per month. One can only transfer ten times for free via crypto wallets and wallets with various base currencies. After these transfers, an additional fee of one percent is charged by the broker. 
  • The spreads start from 0.5 pips, and commission is charged per lot. 

All these fees can together come up as massive and can eat up a significant part of a trader’s profits. 

Trading products and instruments 

  • The broker offers a limited range of assets and trading instruments, which depend on the account type chosen. This results in the elimination of the broker from the “best forex brokers” list. 
  • The products offered on MT4 account types are too few compared to MT5 account types. Let us take an example. Suppose you want to trade in agricultural products but not from an MT5 trading account. But when you opt for an MT4 trading account, you get no agricultural trading products. This can create utter complications and confusion for the traders. The MT4 trading with Admiral Markets does not provide for Agriculture CFDs, ETFs, or Commodity Futures. 
  • The broker renders less than 50 currency pairs, which is too low looking at other forex brokers. 

We can say that the broker offers a below-average range of trading instruments and does not care about its clients’ comfort and flexibility. 

Convoluted Trading Platforms 

Both MT4 and MT5 trading platforms of Admiral Markets are extraordinarily fussy and cumbersome to navigate through. The various functions and tabs are spread all over the place, undermining any structure or system whatsoever.  

Moreover, the broker does not offer any information about the application’s installation, features, and usage. Both MT4 and MT5 trading platforms are complex and involve numerous functionalities. But the broker does not provide any information or guide to map out the platforms. 

Research and Trading tools 

The broker fails to render any useful research tools. Only some calendars and analysis tools are available on its website. In the education guide, the broker emphasizes the befits associated with copy trading. But at the same time, the broker fails to offer any social and copy trading tools. 

At the same time, the broker also does not offer any charting tools for the clients. Charts, graphs, and other such analytical tools play a crucial role in the trading process and help you make profitable decisions. This is the reason we say that the broker’s operations are still stuck to the year of its establishment, i.e., 2001. One cannot see the broker anywhere near the advancing trading technologies and features. 

Customer Support 

A responsive customer support service becomes the spine of any sound financial service provider. This helps traders solve their queries and trading issues in a flexible and effortless way. However, the customer support hours with Admiral Markets are centered in Europe. This directly affects any investor trading outside Europe with Admiral Markets. There will be a delay in response to queries because the support person may not be available. 

Why do we think Admiral Markets is not the right choice?

There are numerous ways in which Admiral Markets lets down the traders and investors. But here are some major ones: 

  • Limited asset range under each category of instrument 
  • Complicated and poor user-interface 
  • Poor customer service for non-European clients 
  • High trading charges and a minimum deposit of 200 dollars 
  • No fixed spreads 
  • No social trading 
  • Low leverage for retail traders 

Conclusion 

It has been more than 19 years, and the broker still fails to render adequate trading services. This itself is one significant red sign. The broker should have put more effort to match its competitors like  HFTrading, Global TradeATF, ROinvesting, which walk hand in hand with advancing technologies of the trade. At the same time, these brokers offer better services and features at lower costs and minimum deposits. Admiral Markets is associated with high trading charges and minimum deposits without rendering any concrete, fair services, and functionalities to its clients. We would recommend traders check out other more competent brokers. 

FAQs 

What is the minimum deposit for Admiral Markets?

The minimum deposit to trade with Admiral Markets is as high as 200 dollars. There is an additional commission and spreads charges depending on the account type chosen. 

What are the disadvantages of trading with Admiral Markets? 

Here are some significant cons of trading with Admiral Markets: 

  • Poor customer service for non-European clients 
  • High trading charges and a minimum deposit of 200 dollars 
  • No fixed spreads 
  • No social trading 
  • Low leverage for retail traders 

What kind of leverage is offered by Admiral Markets?

Admiral Markets renders low leverage of 1:10 or 1:20 to its clients. Such low leverage cannot help traders with small funds open up large trading positions.

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