Admiral Markets Review


Legal Company NameAdmiral Markets Pty Ltd
Websitehttps://www.plus500.com.au
Year Founded2001
Offices LocationsAustralia (Sydney), UK
RegulatorsASIC (AFSL No. 410681), CySEC, FCA
Broker TypeECN
Minimum Deposit$200
Maximum Leverage500:1
Minimum Spread0.0 pips
Deposit & WithdrawalBank wire, Visa/Mastercard, Skrill , Neteller
Currency Pairs40+
Trading PlatformMetaTrader 4, MetaTrader 5, Webtrader
Web-based PlatformsYes
Mobile AppsYes
Exceptional market leadership and stoic traditional trading – exactly what you would expect from a company named Admiral Markets.  This traditional and fluff-free broker that has a large national and International user base, reasonable trading conditions, a reliance on the leading MetaTrader platform and one of the best cryptocurrency offerings on the Australian market by a forex broker.

Account Types

One demo account option and three real accounts which offer either MT4 or MT5 are available — each with distinct differences.

Demo Account

The demo account is a live market experience and is available for 30 days. This demo account stays open longer than most demo accounts will remain open, as most close after 14 days.  Included, is a balance of $10,000, so this offers more of a real trading experience – demo accounts that provide $100,000 I find to be misleading for the trader as this is not a typical account balance.

Markets Account

This account is an MT4 account, for the entry level trader at Admiral.  It requires a $200 minimum deposit and offers traders 31 currency pairs and five cryptocurrency pairs to trade.  If you are interested in trading other CFDs, this is also available.

This entry level account has spreads that start at 0.8 pips, and leverage on regular currency pairs up to 1:500.  The Markets account is a reasonable account offering for this low minimum deposit, and I would expect most traders to be happy with this setup.  It is an ECN, No Dealing Desk, account.

Prime Account

This STP account is the professional MT4 account.  It requires a $1000 minimum deposit and comes with more favourable trading conditions.  Spreads tighten up to 0 pips (minimum), and Admiral charges a commission of $3.5 per standard lot traded instead.  This commission level is relatively standard for the industry and comparable with other ASIC brokers we feature.

This account does offer more currency pair options but does not provide cryptocurrency pairs.  For the more active trader, this account also provides a more significant number of lots per trade, and it increases the stop out % significantly.

MT5 Account 

For those of you who have broken the mould and have moved forward with the advances in MetaTrader software, Admiral has an account for you.   This account has 36 currency pairs and cryptocurrencies to trade with STP execution on all trades instead of the ECN account that is standard.

The trading conditions for the account are in line with the first account, offering 0.8 pips spreads and leverage to 1:500.

Cryptocurrency Trading

I feel that the cryptocurrency offering at Admiral Markets is stronger than most of their closest competitors, but if it is cryptocurrency pairs you are interested in trading, you must choose your account type wisely.

Leverage on these pairs is up to 1:5, long and short are both available and spreads we dynamic.  Expect wide spreads here, but this is standard for these pairs.

Cryptocurrency Pairs at the time of writing are:

  • BCHUSD
  • BTCUSD
  • DSHUSD
  • ETHUSD
  • LTCUSD
  • XMRUSD
  • XRPUSD
  • ZECUSD

Trading Platforms 

Admiral Markets clients will be using MetaTrader software which is the industry standard.  It also means you will get technical support from the Admiral Markets should you run into issues.  The platforms include:

  • MT4 – MetaTrader 4 – the industry standard
  • MT5 – MetaTrader5 – the newer version of the software that offers more features, but is not yet fully accepted by the industry.
  • Webtrader – MetaTrader Webtrader – The version of the software that will run in your browser.
  • IOS and Android Apps – Use the apps when you are on the go to either monitor trades or take advantage of major news events when you are out and about and want to get a trade open.

Regulation

Admiral Markets has some daughter companies which each have regulators around the world.  If you are signing up as an Australian resident, your trading activity will be under the Australian Pty Ltd company.  We mention the additional regulators to give you the peace of mind that other organisations are also watching the Admiral Markets business.

Deposits & Withdrawals

If you make deposits by credit card, the balance is applied to the trading account immediately.  Bank wire is also accepted, but this will take 1-3 bank days for the balance to show.  Both deposit options are without commission, though your bank may have charges for wire transfers.

Withdrawals are only available via bank wire, with a processing time of 1-3 business days.  A fee is 3 AUD is charged for domestic transfers and up to 20 AUD for international transfers.

Customer Support

Customer support is available from 08.00 AM – 19.00 PM (live chat, email, phones) / 5 days a week.

Compare Admiral Markets

Admiral Markets Vs. IC markets

 AdmiralIC Markets
FundingBank wire, Visa/Mastercard, Skrill , NetellerCredit Card, Bankwire, POLi, Paypal, Neteller, Skrill & Many More
RegulatedASIC (AFSL No. 410681), CySEC, FCAASIC (AFSL No. 335692)
Broker TypeECNECN
Currency Pairs40+65+
Minimum Spread0.0 pips0.0 pips
Minimum Deposit$200$200
Max Leverage500:1500:1
Expert ReviewRead reviewRead review
Visit WebsiteVisit AdmiralVisit IC Markets

Admiral Markets Vs. FXpro

 AdmiralFXpro
FundingBank wire, Visa/Mastercard, Skrill , NetellerBank wire, Visa/Mastercard
RegulatedASIC (AFSL No. 410681), CySEC, FCAFSCA No.45052, FCA, CySEC
Broker TypeECNPure STP
Currency Pairs40+70+
Minimum Spread0.0 pips0.6 pips
Minimum Deposit$200$100
Max Leverage500:1500:1
Expert ReviewRead reviewRead review
Visit WebsiteVisit AdmiralVisit FXpro

Overall

Admiral Markets is your traditional, sturdy and well-regulated broker.  With a good platform for traders, enough accounts to keep both the newbie and the professional happy, I don’t see why a trader wouldn’t be happy here.

I do always find it old-fashioned for brokers to give you limited access to withdrawing your money.  Brokers can do this instantly, and without fees, so this is an area where I think we should see improvements.

Admiral Markets
3.3
Admiral Markets Logo

Product Name: Admiral Markets

  • Trading Conditions
  • Platform Choice
  • Regulation & Oversight
  • Customer Support

Pros

  • ASIC Regulated
  • ECN Broker
  • Head Office in Australia

Cons

  • Limited FX pairs to trade
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User Review
4 (1 vote)
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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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