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ADMIRALS REVIEW: PROS & CONS

Have you come across this financial app and wonder what it is all about? In this review, we will walk you through the key points to consider when evaluating its features and benefits.

Last Update:

28.6.24

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INDEX

Try this App

Investments involve risks and are not suitable for all investors. Please ensure you understand the risks or seek advice from an independent financial advisor.

Alternative App

BASIC INFO

Admirals, formerly known as Admiral Markets, is a well-established online Forex and CFD broker. The platform offers a wide range of trading instruments, including currency pairs, stocks, and commodities. Admirals is known for its comprehensive educational materials, advanced trading tools, and client-focused services, making it a preferred choice for traders seeking a knowledgeable and supportive trading partner.

Year

2001

HeadQuarters

United Kingdom

Service

TRADING

Investments involve risks and are not suitable for all investors. Please ensure you understand the risks or seek advice from an independent financial advisor.

PROS & CONS

PROS

+20 Years in Business

This platform has been in business for over 20 years, demonstrating its experience and reliability. Users can trust the platform's long-standing presence in the industry.

Regulated by a Credible Government Agency

This platform is regulated by a credible government agency, ensuring that it operates in compliance with industry standards and regulations. Regulation provides a level of security and protection for traders, as it requires the platform to adhere to specific rules and guidelines designed to safeguard the interests of market participants. Trading on a regulated platform can enhance trust and confidence in the trading environment.

Low spreads

This platform offers tight spreads, ensuring competitive pricing and cost-effective trading.

Free Technical/Market Analysis

This platform offers free technical and market analysis tools, empowering traders with valuable information and insights for their trading decisions.

CONS

Poor Customer Support

This trading platform offers limited customer support, leading to delays in resolving issues or inadequate assistance for traders. With subpar customer support, traders may face challenges in getting timely responses to their inquiries, resolving technical difficulties, or receiving necessary guidance.

Lack of Educational Resources

This trading platform lacks comprehensive educational resources, making it challenging for traders to access valuable learning materials and enhance their trading knowledge. Without access to educational resources, traders may struggle to understand complex trading concepts, strategies, or market analysis, limiting their ability to make informed trading decisions.

APPS

METATRADER 4

Widely-used platform for forex trading. Known for its Expert Advisors (EAs) and customizability.

METATRADER 5

Successor to MT4 with more timeframes and order types. Supports more markets beyond forex.

ADMIRALS WEBTRADER

Internally developed trading app.

MT4

The screenshot of the MetaTrader 4 (MT4) platform features a dynamic user interface, equipped with multiple essential components for trading. The "Market Watch" window displays a list of the most traded currency pairs, showcasing market liquidity with real-time bid and ask prices. Concurrently, the EUR/USD candlestick chart offers a crisp visualization of market fluctuations over a one-hour period, accentuating bullish trends with green candles.

ACCOUNT OPENING

How to Open a Trading Account with Admirals


Opening a trading account is a process that involves several key steps to ensure both your trading needs and the broker's regulatory requirements are met. Below, we describe the process in detailed steps:


  1. Visit the Broker's Website: Access the official website (found in the index of this review). Look for the option to open a new trading account, which is usually clearly indicated on the main page.

  2. Complete the Registration Form: Provide your personal details, such as name, address, email, and phone number. Depending on the broker's need to know you better as a client, additional information about your trading experience, employment, and financial situation may be requested.
    Identity Verification: Upload documents to verify your identity and residence. This generally includes a photo ID (passport or identification document) and a proof of address (utility bill or bank statement).

  3. Set Up Your Trading Account: Configure aspects of your account, such as currency type, leverage, and, in some cases, trading preferences.

  4. Deposit Funds: Make an initial deposit using one of the payment methods accepted by the broker (We detail the alternatives later).

  5. Access the Trading Platform: Download and install the trading platform. Log in with your account details.
    Practice with a Demo Account (Optional): Practicing trading with virtual funds before risking real money means you won't be surprised when using real money.
    Start Trading: Once your account is set up and funded, you can start trading.



How to Deposit


Once you have decided how much to deposit and which method to use, making the deposit is simple and quick. Just follow these steps:


  1. Log in to your newly created account.

  2. Click on "Deposit Funds".

  3. Enter the amount and select the currency.

  4. Finally, select your chosen deposit method. Don't worry, it's a  secure and private process. Transactions are communicated using Secure Socket Layer (SSL) technology.


Below we show you the available alternatives.

Deposit & Withdrawal Methods

Bank Transfer
Credit Card
Neteller
Skrill
Wise

ASSETS & SERVICES

Admirals is a solid choice for investors interested in FX (Forex) and CFD (Contract for Difference) trading. It offers a wide range of financial assets, including:


  • Currency Pairs (Forex): Currency pairs are one of the most popular assets in trading. Investors can speculate on the fluctuation of exchange rates between major currencies, such as EUR/USD, GBP/JPY, and USD/JPY.

  • Stocks: It allows the buying and selling of CFDs of stocks of companies listed on various stock exchanges worldwide. This provides investors with the opportunity to invest in leading companies like Apple, Amazon, Microsoft, and many others.

  • Stock Indices: Stock indices represent the performance of a group of stocks on a specific stock exchange. Investors can trade indices such as the S&P 500, FTSE 100, DAX, and more, allowing them to diversify their portfolios.

  • Commodities: Commodity assets include crude oil, gold, silver, natural gas, corn, coffee, and other basic commodities. Investors can speculate on the price movements of these commodities, which are often influenced by economic and geopolitical factors.

  • Cryptocurrencies: You can trade CFDs on a variety of cryptocurrencies, such as Bitcoin, Ethereum, Ripple, and Litecoin.

REGULATION

United Kingdom

FCA

Financial Conduct Authority

Australia

ASIC

Australian Securities & Investments Commission

Cyprus

CySEC

Cyprus Securities and Exchange Commission

Lebanon

CMA

Capital Markets Authority

Seychelles

SFSA

Seychelles Financial Services Authority

Selected Feedback of Admirals on Trustpilot


Here is a detailed analysis of Admirals based on user reviews on Trustpilot:


  • Overall Rating: Admirals rated 3.9 out of 5 on Trustpilot, indicating high customer satisfaction.

  • Positive Aspects: Users praise the transparency, excellent customer support, and wide range of financial instruments available. The platforms' educational resources and ease of use are also highly appreciated.

  • Technical Issues: Some users have mentioned minor issues with the platform during high-activity periods, but these are generally resolved quickly.

  • Fund Withdrawal: Most users report a smooth and fast withdrawal process, though some have experienced minor delays.


Overall Conclusion: Admirals is valued for its transparency, good customer support, and extensive range of instruments and educational resources. Potential technical issues and minor withdrawal delays should be considered, but overall, the experience is very positive. Weighing these factors against personal trading needs is essential for an informed decision.

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