Admiral Markets Review Australia & Test 2021
Is Admiral Markets safe or scam?
Admiral Markets, recently rebranded as Admirals, have been established in the trading world since 2001. Providing a safe and secure environment for over 120,000 traders, we thought it was about time our experts put the trusted broker to the test.
Below, we take an honest look at the overall performance of Admiral Markets Australia. We dive deep into the security, regulation, and deposit insurance associated with your account; we consider the usability, customer support, and any offers available to new customers before leaving you with our authentic Admiral Markets rating.
Our Admiral Markets review kicks off with a minor negative – there are zero retail customer bonuses or sign-up offers. However, the sign-up process itself is a delight and about as straightforward as they come.
Following the industry standard, Admiral Markets Australia requires new users to provide basic personal details in order to get their accounts set up. From here, new traders will be required to follow AML/KYC processes to ensure each user is exactly who they say they are. The passing of KYC is achieved by forwarding a copy of photo ID, proof of residency, and any additional documentation Admiral Markets Australia requires. Once complete, your account is active, and full account features will be readily available.
As we mentioned in our Eightcap review, the usability of an online broker is imperative when curating our overall reviews and ratings. Thankfully, the use of solid trading platforms, simple deposit methods, and a great selection of trading assets ensure the Admiral Markets Australia rating is not dented.
Users of the Admiral Markets platform can take advantage of over 7,500 assets, depending on the account and platform they choose, as well as the operating subsidiary. 3,398 equity CFDs, 43 Indices, 396 ETFs, 2 bond CFDs, 27 commodity CFDs, 32 cryptocurrency pairings, and 49 forex pairs are on offer, tradeable online or via the Admiral Markets dedicated app.
The use of MetaTrader ensures users are equipped with advanced charting features, multiple time frames, customisable indicators, and the ability to activate one-click trading. Reliable, fast, and offering access to the education market, Admiral Markets ticks all the boxes.
Much like users of INGOT Australia, traders making use of the Admiral Markets Australia platform will be able to take advantage of various account types once they have passed the initial vetting process.
For retail clients looking to make use of the Trade MetaTrader 4 or Trade MetaTrader 5 account option can take advantage of commission-free trading and a spread of 0.5 pips. However, commissions on equity CFDs will still be applied.
For high-frequency or high-value traders, the Zero MetaTrader 4 or Zero MetaTrader 5 account type may be the better option. Here, Admiral Markets Australia offers traders spreads between 0.0 and 0.1 pips. Despite the Zero MT4/MT5 hosting a fee, a volume discount is available, cutting trading costs considerably.
Other Account Options
As well as the account types previously mentioned, our Admiral Markets review Australia also uncovered a demo account that was accessible to all traders signed up to the Admiral Markets platform. The demo account is a great spot for budding new traders or professionals looking to test strategies before opening up a real account and risking real funds. Not only this, but our Admiral Markets review also found a swap-free Islamic account was available to followers of the faith, as well as a professional account for those who took trading and investing more seriously.
Fees – Admiral Markets Australia stays fully transparent
As with any broker who provides a variety of assets and markets, fees associated with each group will differ. However, thanks to Admiral Markets’ trustworthy and transparent approach, users can access all information surrounding fees and charges directly from the website.
Overall, we would suggest the fees and charges associated with any Admiral Markets Australia account are competitive. Depending on your chosen account type, users can take advantage of some great perks, including volume discounts, zero commissions, and low spreads. However, we would advise checking the perks associated with your chosen account to benefit your style of trading before signing up and depositing at Admiral Markets Australia.
Similar to our Trade Nation review, it is also worth noting that an inactivity fee is applied to any Admiral Markets account that remains in a positive balance. $10 will be taken from any positive account for every month of inactivity after an initial zero-action stint of 24 months has passed. Swap rate on leveraged overnight positions and third-party deposit and withdrawal fees may also apply.
As you may have picked up from our comments earlier in our Admiral Markets review Australia, the trading platforms utilised by Admiral Markets are MetaTrader 4, MetaTrader 5, and the MetaTrader WebTrader.
Recognised as popular industry-leading platforms, we are certain your trading experience will be positive regardless of which model you decide to use. However, if you plan on diversifying your portfolio, it would appear the MT5 would be the best option for you. With the MT5, traders are able to access all asset types available on the Admiral Markets Australia site.
Unfortunately, the MT5 does not hold backwards compatibility with the MT4. Any existing set-ups based on the MT4 will not be brought forward and any new strategies or charting tools utilised will need to be revamped using the MT5.
For those looking to deposit and withdraw successfully from their Admiral Markets Australia account, they will have to make do with limited variety away from credit card, debit card, or wire transfer.
In fact, PayPal is the only major e-wallet provider that is supported by the Admiral Markets Australia site. If you plan to use PayPal for your trading deposits and withdrawals, you can expect to find a minimum deposit of $75 and a minimum of $750.
For the traditionalists among us using a debit card, credit card, or wire transfer, you will find zero fees are attached, with processing times taking between 1 and 3 days.
The importance of great customer support is evidenced in our Global Prime review and something we discuss further here.
The team behind Admiral Markets Australia have ensured customer service is made easily accessible by providing many different channels for users to contact their customer support agents, including email, phone, live chat, and an online form.
Despite support being available 24/5, we did find the dedicated FAQ section answered most of the common questions likely to crop up when trading online.
We were also particularly impressed with the response times of the Admiral Markets Australia support staff. We found emails were responded to within 24 hours, and our queries through live chat were dealt with, as you would imagine, almost instantly.
Admirals AS, the owner of all 3 Admiral Markets brokerages, is regulated by the Estonian Financial Supervision Authority (EFSA). Admiral Markets UK Ltd is regulated by the Financial Conduct Authority. Admiral Markets Cyprus LTD is licensed under the Cyprus Securities and Exchange Commission (CySEC). Admiral Markets Pty LTD holds an Australian Financial Services License (AFSL).
As explained in our Axi Trader review, an operator must abide by set regulations in accordance with law to be considered a legal and respected broker.
Thankfully, our Admiral Markets review Australia has uncovered the established broker to be a safe and secure environment for new and professional traders alike, keeping client funds segregated, offering negative balance protection, as well as full compliance with all aforementioned regulators.
It would certainly appear that Admiral Markets Australia holds its customers in high regard, offering some fantastic educational resources for all members to take advantage of on-site.
Hosted by professional financial traders, users of the Admiral Market site can join regular Forex & CFD webinars and seminars. Not only this, but when you head to the education section of the site, you will notice many other popular resources on offer too, including a Trader’s Glossary, FAQs, eBooks, articles, tutorials, and trading courses that can help bolster any trader’s knowledge, regardless of experience!
As we draw a close to our Admiral Markets review, it is worth summarising a few key pointers to take away with you.
Firstly, the site makes use of the industry-leading MetaTrader platform. Reliable, fast, and straightforward to use, you can add a whole host of indicators, make use of charting features, and trade with one click if it suits.
Not only does Admiral Markets offer users a great trading platform, but they also offer users a fantastic selection of assets and account options that will appeal to all walks of trading life.
One major drawback is the limited withdrawal options available; although the options available are reputable, any users looking for a solid selection of payment methods would do well to check out our XM review.