Admirals, long known as Admiral Markets, is one of the more established multi-asset brokers in Europe. It says it has served traders since 2001, is headquartered in Tallinn, and is supervised in the UK and Cyprus. It combines MetaTrader 4 and 5 with its own platform and a real-stock investment account. Our verdict: for UK and EU residents it remains a well-regulated, well-equipped choice. Clients elsewhere should check carefully which entity they are signing with, because the group now routes much of its non-European business through an offshore company in Seychelles.
Admirals at a glance
| Item | Details (as of November 2026) |
|---|---|
| Founded | 2001 (per company) |
| Headquarters | Tallinn, Estonia |
| UK entity | Admiral Markets UK Ltd – FCA, FRN 595450 |
| EU entity | Admirals Europe Ltd – CySEC, licence 201/13 |
| Offshore entity | Admirals SC Ltd – FSA Seychelles, licence SD073 |
| Retail leverage (EU) | 1:30 on major FX pairs |
| Platforms | MT4, MT5, WebTrader, Admirals Platform, mobile app |
| Islamic account | Yes |
| Demo account | Yes |
| Risk warning (EU site) | 76% of retail CFD accounts lose money |
Regulation and safety
Admirals lists three regulated companies in its client FAQ:
- Admiral Markets UK Ltd – authorised by the Financial Conduct Authority. The FCA register shows firm reference number 595450, authorised since 12 June 2013, with an address at Tower 42, London. The FCA also notes that scammers have cloned this firm’s details, so only contact Admirals through official channels.
- Admirals Europe Ltd (formerly Admiral Markets Cyprus Ltd) – regulated by CySEC under licence 201/13, company number 310328, registered at Agias Zonis 63, Limassol.
- Admirals SC Ltd – licensed by the Seychelles Financial Services Authority under licence SD073. This is an offshore licence with materially weaker client protection.
For EU clients, the regulation page describes several layers of protection. Admirals Europe is a member of the Cyprus Investor Compensation Fund, which covers eligible clients up to €20,000. It also holds an additional insurance policy, effective since March 2021, covering eligible securities and cash up to €100,000 if the firm becomes insolvent. Retail clients receive unconditional negative balance protection, and professional clients are covered up to €50,000. These protections belong to the Cypriot entity and should not be assumed for accounts opened with Admirals SC.
The group’s footprint has shrunk over the past two years. Admirals agreed in December 2024 to sell its Australian subsidiary, a sale completed in 2025. Its UAE permission was cancelled in November 2025. In March 2026 onboarding under its Jordan and Kenya licences was redirected to Seychelles, and the Estonian investment-firm licence of Admiral Markets AS was revoked at the company’s request in April 2026. The group also reported a net loss for 2025. None of this changes the status of the FCA and CySEC entities, but it means fewer clients worldwide now sit under a top-tier regulator. We checked the FCA register directly. The CySEC and FSA Seychelles registers could not be opened during this review, so we relied on the company’s published licence numbers for those two.
Fees and costs
Admirals offers two styles of pricing. Standard trading accounts on MT4 and MT5 build costs into the spread. Zero.MT4 and Zero.MT5 accounts offer raw spreads plus commission. According to the account page, commission on currency pairs and metals in the Zero accounts depends on your monthly volume and is charged per side, while energies and cash indices carry a flat commission. Admirals advertises Zero account spreads from 0.0 pips, while Trade.MT5 spreads start from about 0.6 pips. For Admirals SC Ltd, a recent independent review lists a minimum deposit of $25 for Trade.MT5 and Zero.MT5 and $1 for Invest.MT5, as of November 2026; Admirals Europe Ltd sets its own thresholds. Check the live contract specifications before trading.
Non-trading fees for the EU entity are clearly published:
| Item | Fee (EU entity, November 2026) |
|---|---|
| Deposits (bank, card, Klarna, Skrill, Brite) | Free |
| Withdrawals | 1 free per month per method; then 1 EUR (bank) or 1% (card, Skrill, Brite) |
| Currency conversion | 0.5% |
| Inactivity | 10 EUR/month after 24 months without transactions or open positions |
| Transfers between different base currencies | 1% |
Accounts and markets
Admirals lists four account categories: the Trading account for leveraged CFDs on MT4 or MT5, the Investment account for buying stocks and ETFs, an Islamic account for swap-free trading, and a free Demo account. Asset classes include forex, commodities, indices, stocks, ETFs and cryptocurrency CFDs. Leverage for EU retail clients on major pairs such as EUR/USD, GBP/USD and USD/JPY is limited to 1:30. The margin page also shows higher tiers, up to 1:500, which apply only to eligible professional clients and fall as position size grows.
Platforms and tools
Platform choice is a real strength. Alongside MetaTrader 4, MetaTrader 5 and MetaTrader WebTrader, Admirals offers its own Admirals Platform and mobile app. It also provides MetaTrader Supreme Edition, a plug-in pack with extra indicators and trade-management tools, along with StereoTrader for order-flow style trading and a Virtual Private Server for running Expert Advisors around the clock. The company’s milestones include adopting MT4 in 2005, launching a mobile app in 2016, introducing fractional shares and an Islamic account in 2018, and adding Premium Analytics in 2021.
Deposits and withdrawals
For the EU entity, deposits are accepted by bank transfer, Visa and Mastercard, Klarna, Skrill and Brite open banking, all free of charge. Payment limits and processing times appear in the client dashboard. Payment options for the Seychelles entity may differ.
Who Admirals suits, and who should avoid it
Suits: UK and EU traders who want a regulated broker with full MetaTrader support, extra tools, and the option to invest in real shares and ETFs alongside CFD trading.
Think twice if: you live outside Europe and would be placed with Admirals SC, where protection is offshore-grade. Also compare typical (not minimum) spreads with other brokers if cost is your main concern, since the 0.0-pip Zero pricing comes with a per-lot commission.
Final verdict
Admirals combines genuine top-tier regulation in the UK and Cyprus with a mature MetaTrader-based toolset and clear non-trading fees. EU clients also get a compensation fund, extra insolvency insurance and negative balance protection. The caveats are the group’s recent retreat from several jurisdictions and its growing use of a Seychelles entity for international clients. Confirm your contracting entity before opening an account. As with any CFD provider, most retail accounts lose money, so trade with leverage you understand and capital you can afford to lose.
Compare Admirals with the other top forex brokers, or read our InstaForex review and Octa review.
FAQ
Is Admirals (Admiral Markets) regulated?
Yes. Admiral Markets UK Ltd is authorised by the UK FCA (FRN 595450), and Admirals Europe Ltd is regulated by CySEC (licence 201/13). Admirals SC Ltd is licensed by the Seychelles FSA (SD073), an offshore regulator.
Which Admirals entity will hold my account?
That depends on where you live. EU clients are served by Admirals Europe Ltd in Cyprus, while many clients outside Europe are now onboarded through the Seychelles entity, which offers weaker protection.
Does Admirals offer negative balance protection?
Admirals Europe Ltd states that retail clients have full negative balance protection, and that professional clients are covered up to €50,000 under an insurance policy.
What are Admirals’ withdrawal fees?
Deposits are free. Each method allows one free withdrawal per month, after which fees apply, for example 1 EUR for bank transfer or 1% for cards and Skrill, as of November 2026.
What platforms does Admirals offer?
MetaTrader 4, MetaTrader 5, MetaTrader WebTrader, the Admirals Platform and the Admirals mobile app, plus add-ons such as MetaTrader Supreme Edition and StereoTrader.
Facts compiled on 8 November 2026 from the official website, regulator registers and independent reviews listed in the sources. Fees and conditions change; confirm on the official site before opening an account.
