AdmiralMarkets.com Review Visit site

Updated: Jun 1, 2020
FxService.com
3.217 · 127 REVIEWS
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About AdmiralMarkets.com

AdmiralMarkets is a forex broker. Admiral Markets offers the MT4 and MT5 trading currency platforms. AdmiralMarkets.com offers over 45 currency pairs, cryptocurrencies, indices, shares, gold, silver, commodities and cfds for your personal investment and trading options.

AdmiralMarkets.com

Broker Details

Minimum Trade Size:0.01
Maximum Leverage:500:1
Minimum to Open Live:$100
Established:2000
Address:16 St Clare Street, London, EC3N 1LQ, United Kingdom
Contact:support@admiralmarkets.com, +44 20 35 140 756
Regional offices:
Regulators: ASIC #AFSL no. 410681, CySEC #201/13, EFSA #4.1-1/46, FCA #595450
Prohibited countries:Unknown
Trading platforms:MT4, MT5, WebTrader
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies:(45+)
Cryptocurrencies:(30+) Bitcoin, Litecoin, Ethereum
CFD:(3780+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Bonds, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
Deposit Methods:Bank Wire, VISA, MasterCard, iBank&BankLink, iDEAL, Klarna, Neteller, Przelewy24, Skrill
Withdrawal Methods:Bank Wire, Neteller, Skrill

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3.217 · 127 REVIEWS
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Consumer Reviews

Amsterdam, Netherlands,
May 27, 2020,
Registered user

Broker influenced oil prices without warning

Service use: Live

Length of use: over 1 Year

Admiral Markets influenced the WTI spot price by out of no where following the December future price. This is ok to do, but you should warn traders before you do this!!! I didn't sign up for a December future, I can trade that somewhere else!!! I want the spot price!!! Incredible how this company is doing business. Holding my position for weeks now, due to Swaps (30%) of my account I am still in a loss. At every other broker I would have made thousands!! Unbelievable. Not done with this yet.
  4 traders have found this review helpful
Malaysia, Malaysia,
May 26, 2020,
Registered user

Unreasonable, absurd pricing on WTI

Service use: Live

Length of use: 0-3 Months

Bought WTI back in April around 20$. I have emailed them on why the price is still around $11 in end May ($20 lower than other brokers). The reply give was Admiral switched to the contract to December 2020 futures without any prior notice to the clients.

After complaints from clients, which is obvious, they have all of a sudden release a new instrument of CRUDE OIL with pricing of $30+.

Clients who have traded on WTI are still left to suffer with swaps that have accumulated as Admiral has still held prices at around $12.
  4 traders have found this review helpful
Reply by AdmiralMarkets submitted May 28, 2020:
Dear Kishaan,

On April 3rd we issued a general warning to clients (news to website and email to all stage 8-9 active clients) regarding the situation in oil markets. We specifically mentioned the risk of significantly higher swaps that are subject to change even without any special notice to clients. But we still sent an internal MT mail when the swaps raised for the first time. Here is the link https://admiralmarkets.com/about-us/news/oil-margin-requirements
if any client is concerned about paying any swaps on oil positions - we have both WTI and Brent oil available as futures CFDs on our Trade.MT5 accounts. There are no swaps on futures based contracts at all.

Kind regards,
Admiral Markets
Mark,
Filox, Italy,
May 26, 2020,
Guest

WTI Price Manipulation

Service use: Live

Length of use: 6-12 Months

New clients should avoid this scam broker specially the big investors and traders whom using mid or long term trading methods.
Admiral are manipulating in price as they want against traders, they are keeping the spot price for WTI lower than other broker and charged high swaps which higher than other broker to force clients to close with loss.
Actually they are charging high swaps for many instruments such as Gold, Indices and Oil to force their clients to use future contracts which has expired date instead of spot instruments

I’m holding account with Admiral UK and I have bought WTI oil from price levels (21.50 – 15.50 – 8.00) since month ago and will not close until it move up to 25.00 then I will withdraw all my money and will not use this scam broker again and I will submit my complain to FCA
The evidence that Admiral has played a dirty game with WTI ,that they have added new instrument for Spot Oil (CRUDOIL) before one week, because they don’t want old traders whom holding WTI from lower price levels to get profit and they just keep repeating the same ridiculous excuses for this bad behave.
  5 traders have found this review helpful
Reply by AdmiralMarkets submitted May 28, 2020:
Dear Mark,

On April 3rd we issued a general warning to clients (news to website and email to all stage 8-9 active clients) regarding the situation in oil markets. We specifically mentioned the risk of significantly higher swaps that are subject to change even without any special notice to clients. But we still sent an internal MT mail when the swaps raised for the first time. Here is the link https://admiralmarkets.com/about-us/news/oil-margin-requirements
if any client is concerned about paying any swaps on oil positions - we have both WTI and Brent oil available as futures CFDs on our Trade.MT5 accounts. There are no swaps on futures based contracts at all.

Kind regards,
Admiral Markets
Johannesburg, South Africa,
May 26, 2020,
Registered user

Disappointed

Service use: Live

Length of use: 6-12 Months

Earlier this year I wrote to Admiral trade about Palladium price freezing and they denied. On April 21 2020 they introduced high Swap to cheat traders out of their profit. I think they manipulate prices because since they promised to come back to me, they never did till now. I closed my account
  2 traders have found this review helpful
Reply by AdmiralMarkets submitted May 28, 2020:
Dear Victor,

We are sad to hear this, I hope that everything will stabilize in the near future. Palladium is a low-liquid instrument and in the current market situation we continue to look for a more stable liquidity provider.

Kind Regards,
Admiral markets
Miskolc, Hungary,
May 22, 2020,
Registered user

Unfair WTI pricing, avoid this broker ASAP!

Service use: Live

Length of use: over 1 Year

I liked this broker so far, because they had reasonable service, but what they did whit wti during the panic is unethical, and must be punished.

I bought wti before the crash around 20$ so I lost money and had to deposit new margin, so I can buy back my positions. But after April 20 they changed the quotation method of the WTI cfd. They switched to the december future, but not clear the method. I just guess they thought for 2020 december, but I dont understand how could they swith a continous product to an other pricing method. At 20 April the WTI CFD was around 17$ and the CLZ20 future contract at 32$.

Now I cant believe this. Every other broker has a price of 30$ WTI but they still have 11$. Brent is a different story but the price of Brent is the same compared to other brokers, and future prices. Usually the gap between wti and brent is 2-4$ so it is very unfair to keep a 20$ gap between wti and brent. So I cant get my money back even that I hoped about recovery of the prices and happened, but not at Admiral Markets.

Besides the very unfair pricing they keep the swap at 260%!!! so your long bleed out every way.

After the storm now on 20 May they released a new product of CRUDE OIL which debuted at 31$ with a right chart backwards.

I wrote to them but no answer yet. I think they are in big trouble, because they dont want to pay the profit to traders. It is public robbery, it is stealing my and other traders money.

I hope this issue will be solved, otherwise we need to join, and Admiral Markets must be sued together. I hope the FCA or the Court will keep justice to us!
  7 traders have found this review helpful
Reply by AdmiralMarkets submitted May 26, 2020:
Hello there,

As you know, there is no central trading venue or rulebook to form a single global spot (cash) price for commodities, such as oil. Spot prices are derived from the underlying relevant commodity futures contract by removing the implied holding costs. There are several options to do that, but the most important factor for any of these options is which particular futures contracts are used as a reference. Therefore, providers of spot prices that rely on different spot price formation methodologies, and quote their spot prices based on different reference futures contracts, will eventually have different quotes for the same 'spot' products at the same time.

When we, following our liquidity provider, roll over our spot price from one month to the next, we aim to avoid price gaps so that, at the expiration, our spot price is equal to the expired month's price and we will then gradually move towards the price of the next reference futures contracts. (Traders can see similar pricing approaches via some other sources https://www.investing.com/currencies/wti-usd).

You may find answers to all your questions regarding oil-based contracts on our website https://admiralmarkets.com/about-us/news/oil-trading-storage-crisis.

On April 3rd we issued a general warning to clients (news to website and email to all stage 8-9 active clients) regarding the situation in oil markets. We specifically mentioned the risk of significantly higher swaps that are subject to change even without any special notice to clients. But we still sent an internal MT mail when the swaps raised for the first time. Here is the link https://admiralmarkets.com/about-us/news/oil-margin-requirements
if any client is concerned about paying any swaps on oil positions - we have both WTI and Brent oil available as futures CFDs on our Trade.MT5 accounts. There are no swaps on futures based contracts at all.

Kind regards,
Admiral Markets
Kyiv, Ukraine,
May 20, 2020,
Registered user

New Oil instrument to avoid fair WTI quotation

Service use: Live

Length of use: 6-12 Months

Update to Admiral Markets review. Broker just added new instrument CRUDOIL and the price of it is around $33 (fair price). At the same time WTI still trades much below min. market levels at around $11 (Dec. futures contract costs $35!). Thus Admiral Markets keeps WTI price low and added new instrument to avoid paying money for win positions to traders who forced to keep holding WTI and pay big swaps.

May 14, 2020 - 1 Star Despite client's complaints and OIL market current situation , Admiral Markets still holds it's spot prices below $10 and continues to hold highest swaps ever. This is unfair business in relation to traders who forced to hold loss long positions and pay highest swaps for that while oil market rebounds and there is a possibility to close positions with profit. Hope there are juristconsults who can give legal advise, so traders could apply to authorities.

Reply by AdmiralMarkets submitted May 18, 2020 Hello there,



We find that our current terms correspond to current extreme overproduction market conditions and further changes to the higher or lower side in the nearest future are possible. We are not able to comment on the actions of other service providers as we are not part of their business. Maybe they will increase soon, maybe not. It is up to their own risk committees and trading desk teams to decide. On April 3rd we issued a general warning to clients (news to website and email to all stage 8-9 active clients) regarding the situation in oil markets. We specifically mentioned the risk of significantly higher swaps that are subject to change even without any special notice to clients. But we still sent an internal MT mail when the swaps raised for the first time. Here is the link https://admiralmarkets.com/about-us/news/oil-margin-requirements

if any client is concerned about paying any swaps on oil positions - we have both WTI and Brent oil available as futures CFDs on our Trade.MT5 accounts. There are no swaps on futures based contracts at all. Just mind the contract expiration dates.



Kind regards,

Admiral Markets
  6 traders have found this review helpful
Varna, Bulgaria,
May 15, 2020,
Registered user

Let's sue Admiral Markets

Service use: Live

Length of use: 3-6 Months

I am not going to repeat everything , the other traders says about Admiral Markets.
Everything about WTI with AdmiralMarkets is TRUE.... AdmiralMarkets is Robbing there customers with Huge Spread ; Huge SWAP and keeping the price of WTI BELOW 10$ for a Month!!! At the same time, the other Brokers are trading WTI at 29$.
The conclusion is, AdmiralMarkets MUST BE SUED FOR THIS!!!!!!
I would urge you guys , let's all together sue Admiral Markets and take our hard earned money back !!!!
  8 traders have found this review helpful
Reply by AdmiralMarkets submitted May 18, 2020:
Hello there,

As you know, there is no central trading venue or rulebook to form a single global spot (cash) price for commodities, such as oil. Spot prices are derived from the underlying relevant commodity futures contract by removing the implied holding costs. There are several options to do that, but the most important factor for any of these options is which particular futures contracts are used as a reference. Therefore, providers of spot prices that rely on different spot price formation methodologies, and quote their spot prices based on different reference futures contracts, will eventually have different quotes for the same 'spot' products at the same time.

When we, following our liquidity provider, roll over our spot price from one month to the next, we aim to avoid price gaps so that, at the expiration, our spot price is equal to the expired month's price and we will then gradually move towards the price of the next reference futures contracts. (Traders can see similar pricing approaches via some other sources https://www.investing.com/currencies/wti-usd).

You may find answers to all your questions regarding oil-based contracts on our website https://admiralmarkets.com/about-us/news/oil-trading-storage-crisis.

Kind regards,
Admiral Markets
Barcelona, Spain,
May 14, 2020,
Registered user

Trading

Service use: Live

Length of use: 3-6 Months

Hi everyone. I ‍have a horrible experience using different brokers. But Admiral Markets I like them, for 6 months now there are no problems. The only very difficult withdrawal of funds. But now PayPal has appeared and it makes it much easier
  1 trader has found this review helpful
Sofia, Bulgaria,
May 5, 2020,
Registered user

We know who profits from your “client protection“ system.

Service use: Live

Length of use: 0-3 Months

Dear AM,

I had retracted my review to give you time to answer two simple questions, which you could not. Unfortunately, we all are not that unintelligent to not know what exactly you are doing regarding WTI.

You are not protecting us- you protect yourselves! Since the price has bottomed and there is a lot of long buyers on the market and this is a CFD instrument, when the price picks up you will lose a lot of money.

Do you not see the rage against you that is everywhere now? I am sorry, but I must say what everybody thinks. Currently, you are stealing our money with swaps and prevent us from profits by keeping the price intentionally low.

Do you not think about your market share after the WTI crisis? Do you not consider how many clients you will lose? If you change things soon and reconsider your disastrous policy I am sure it is not too late for some of those people to remain with you.

Right now though we all feel betrayed and robbed!

Regards,

May 1, 2020 - No Rating Thank you for your responses. Since, you reply, I feel there are two very simple questions everyone needs answers about ASAP:

1. When do you switch the price back to a more recent contract?
and
2. When do you lower swaps?

Thank you. As I said.

Apr 23, 2020 - 1 Star I was generally happy with the service. I can understand and accept constantly changing and expensive swaps- this is part of the game. However, in the wake of the oil crisis I put enough money in my account and decided to make an investment in oil, thinking that my positions were being guarded as long as I had enough free margin. Imagine my surprise when on 21.04.19 I received a message stating that all positions will be automatically closed if the spot oil price reaches zero. After a telephone conversation with them, I was told should this happen it will be treated as a force majeure situation and there is nothing they can do about it. I have similar positions with other brokers- how come I did not receive this message from them. Imagine who will profit big time if the price reaches zero. I understand stopping listing the price or freezing all trade under certain price until it stabilizes but to steal people's money is downright criminal. I am still waiting for their reply and will retract this review if they do the right thing and stop this outrageous theft. If not, I am prepared to let FCA know about this and pursue them to the end in court, if it comes to this.

Reply by AdmiralMarkets submitted Apr 30, 2020 We fully understand your situation but we can't change the politics of our company and act in the interest of particular clients. We hope you could understand our position to protect the majority of our clients from big losses in the situation of complete unpredictability.

Meanwhile, our WTI spot CFD is based respectively on December futures. We switched to it to provide more stability to our traders and not to allow the price to go down to 0. Still in case it happens, the positions will be closed by the market price.

We also warned about our emergency plan in our news:

If any crude oil CFDs prices fall below 5 USD, we will enable 'Close Only' mode and stop accepting new orders.

If any crude oil CFDs prices fall to 0 USD, we will stop pricing these CFDs, and close all positions at the current market prices and cancel all pending orders (https://admiralmarkets.com/about-us/news/crude-oil-cfds-update).

Kind regards,
Admiral Markets

Reply by AdmiralMarkets submitted May 4, 2020 Hello there,

unfortunately, we do not have an answer to your question. It all depends on the situation in the world. We hope that everything will be settled as soon as possible.

Kind regards,
Admiral Markets
  6 traders have found this review helpful
Reply by AdmiralMarkets submitted May 13, 2020:
Dear Mr. Milanov,

Yes, all the reviews and ratings you leave affect our reputation and, of course, we do not want to lose the loyalty of our customers. We have passed your message to our management, and we hope that the situation with WTI will stabilize as soon as possible.

Kind regards,
Admiral Markets
Vilnius, Lithuania,
May 3, 2020,
Registered user

...but everything collapses when you start earning money!!

Service use: Live

Length of use: 0-3 Months

Name: Mindaugas
Account number: 30268531

Short version: Admiral Markets is extremely great broker (low spread on eur/usd; fast execution; scalping is allowed) but everything collapses then you start making profit!

Note: This comment will be deleted if they let me trade as now they throw me out. Why??? Let's start longer version from the beginning!

Longer version: One month ago I opened an account. Verification was incredibles fast because with other brokers it takes 2-7 days but with AM (Admiral Markets) I was verified even the same day. I started trading and made two trades - both of them winning (+$27.56) and (+$24.86). I believe they are small but surprisingly after them I received phone call asking about my initial deposit. No problem guys - I send all bank statements proving my money. (What was my initial deposit? $3k.) Later they started asking about my relatives (family) and even here I saw no problems because all documents were provided. (I definitely was not happy because be threated like terrorist won't makes me happy but believed if I will provide everything they will let me trade.) Next morning I was shocked - they thrown me out!!! I hope that my initial belief that such broker did so of my winning (even very small) trades is wrong but now I starting doubting it. Why?????? IS THAT FOR WINNING TRADES???????

FINAL WORD: This broker has great features for trading but I suggest to make a few (even very small) winning trades before moving your all funds there. In all cases I will update my comment because I still cannot believe that for those f**king fifty dollars I was thrown out!!!!!
  5 traders have found this review helpful
Reply by AdmiralMarkets submitted May 13, 2020:
Hello there,
we sent you an official response from the company. We have indeed stopped working with you, but this is not trade-related.
It is related to your status - this particular case falls outside the companies client acceptance policy and thus we must terminate based on our risk assessment.

Kind regards,
Admiral Markets

Frequently Asked Questions

Is Admiral Markets a good broker?

Unbiased traders reviews on ForexPeaceArmy is the best way to answer if Admiral Markets is a good broker. https://www.forexpeacearmy.com/forex-reviews/3411/admiralmarkets-forex-brokers.

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent Admiral Markets community discussions: https://www.forexpeacearmy.com/community/tags/admiralmarkets/

Is Admiral Markets legit and regulated?

Admiral Markets holds regulatory license in 4 countries.

  • Australia: Australian Securities and Investments Commission (ASIC) AFSL no. 410681
  • Cyprus: Cyprus Securities and Exchange Commission (CySEC) 201/13
  • Estonia: Estonian Financial Supervision Authority (EFSA) 4.1-1/46
  • United Kingdom: Financial Conduct Authority (FCA) 595450

What is the maximum leverage for Admiral Markets?

To explain the maximum leverage for AdmiralMarkets has to first understand that Admiral Markets is registered in Europe, UK and Australia.

Following the decision of the European Securities and Markets Authority (ESMA), Admiral Markets introduces a leverage between 30:1 and 2:1 for retail customers in Europe and UK.

Admiral Markets introduces a leverage between 500:1 and 10:1 for customers from Australia.