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Alison Heyerdahl
Edited by
Author
Alison Heyerdahl
Edited by
Alison Heyerdahl
Head of Content

Alison Heyerdahl is the Head of Content at FxScouts, a Chartered Market Technician (CMT), and an experienced trader, as well as a financial writer with extensive expertise in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast.

Learn more about Alison Heyerdahl
Author
Author
Chris Cammack
Partner Manager and Financial Writer

Chris Cammack is the Partner Manager and a financial writer at FxScouts. Chris builds and maintains our relationships with our partners to provide our users with the best Forex trading experience.

Learn more about Chris Cammack

Admirals

Best MetaTrader Platform Support

Admirals
4.28
Rate & review
How we review
Accepts South African Clients. Average spread EUR/USD 0.80 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Admirals is regulated by the FSCA, FCA, ASIC, CySEC, and the JSC.
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76 of retail CFD accounts lose money with this provider

Available to traders in %s

Min deposit

ZAR 500

Regulated By

FSCA, ASIC, CySEC, FCA, JSC

Trading Cost

ZAR 8

Leverage

500:1

Copy Trading

Yes

Platforms

MT4, MT5

Instruments

Bonds, Commodities, Cryptocurrencies, Stock CFDs, ETFs ( )
Forex, Indices, Metals

Admirals Broker Review

Updated May 2026


A trustworthy global online broker, Admirals focuses on providing an ideal trading environment for South African traders. In June 2022, it obtained a licence from the South African regulator, the FSCA, and provides accounts denominated in ZAR. However, South African traders may be disappointed that under the FSCA-regulated entity they do not have access to tools like the MetaTrader Supreme Edition or VPS services.


Admirals offers support for the MT4 and MT5 trading platforms in addition to Admirals’ sleek mobile app that is intuitive and easy to set up. Admirals boasts excellent trading conditions on four live accounts. The minimum deposit requirements are only 500 ZAR on all accounts, spreads average at 0.8 pips (EUR/USD) on its commission-free accounts, and commissions of 6 USD (round turn) are charged on its Zero Accounts. 


Besides the lack of trading tools, some drawbacks for those considering trading with Admirals is the high deposit fees charged on accounts with different currencies to those on offer at the broker, and the limited choice of funding methods.
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Accepts South African Clients. Average spread EUR/USD 0.80 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Admirals is regulated by the FSCA, FCA, ASIC, CySEC, and the JSC.
Broker Award

Admirals - Best STP Broker

Dedicated to the security of client funds and with some of the lowest trading costs available on MT4 and MT5, Admirals wins the best STP Forex broker of 2021. As an STP broker regulated by multiple major international organisations including the FCA, CySEC and ASIC, Admirals has built a reputation among traders for achieving a stable, fair, secure and transparent trading environment for both beginners and expert level trader.

Pros

  • Well regulated
  • Excellent education
  • Wide range of assets

Cons

  • Expensive withdrawals
Rating Reviews
4.28

Admirals Overall Summary

Trust Rating
5
Trading Conditions
4.5
Platforms
4.5
Education
5
Beginner Friendly
3
Assets Available
4.5
Analysis Research
5
Deposit & Withdrawal
1
Overall Rating
4.28
/ 5
Base Currencies
EUR, USD, GBP, CHF, BGN, CZK, HRK, HUF, PLN, RON, RUB, AUD, ZAR
Number of FX Pairs
82
Crypto Pairs
42
Copy Trading
Yes
Hedging Allowed
Yes
Scalping Allowed
Yes
Islamic Account
Yes
Account Name
Zero.MT5
Commission
1.8 - 3 USD per lot
EUR/USD
0.10
GBP/USD
0.60
USD/JPY
0.30
Negative Balance Protection
Yes
Company Name
Admiral Markets Group
Founded
2001
Website
admiralmarkets.com
Website Language
Japanese, Malay, English, Swedish, Portuguese, Indonesian, Arabic, Chinese, Vietnamese, Hungarian, Thai, Polish, Spanish
Support Language
Malay, English, Swedish, Portuguese, Indonesian, Arabic, Chinese
Office Locations
Australia, United Kingdom, Cyprus, Estonia, South Africa
Support Email Address
[email protected]
FP Markets FP Markets

Deposit & Withdrawal

banktransfer
mastercard
skrill
visa

Supported Platforms

Best MT4 Forex Brokers
Best MT5 Forex Brokers
Admirals

Ready to trade with Admirals?

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Admirals is regulated by some of the world’s leading authorities and has held a license from the South African FSCA since 2022.

Is Admirals Safe?

FSCA Regulation: Admirals is regulated by the FCA of the UK, CySEC of Cyprus, ASIC of Australia, and has obtained a licence from the Financial Sector Conduct Authority (FSCA) in South Africa, quite an achievement considering the complex regulatory environment. 

Safety Features: The FSCA regulatory requirements are not as strict as regulators from the EU or Australia.  It does, however, require that all trading brokers operating in South Africa must hold client funds in segregated accounts and submit periodic reports of their finances and operations.  Brokers must also be audited yearly by a trusted third-party auditing company. 

However, under this subsidiary, traders are not offered automatic negative balance protection.  If a negative balance occurs, the trader must inform the company’s customer support services by email no later than two business days after its occurrence.  Admirals will then evaluate the inquiry and at its discretion may credit the accounts fully or partially to compensate for the negative balances. 

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Admirals’s Trading Instruments

The choice of financial assets offered by Admirals is wider than other similar brokers.

Available Assets and Leverage

Admirals offers a much broader range of tradable instruments than other brokers and really outshines its competitors in its commodity, share CFD, and ETF offerings. 

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Admirals Accounts and Trading Fees

Admirals is unusual amongst brokers in that it offers four different account types, with trading conditions that vary depending on the platform chosen. 

Trading Fees

All Admirals’ accounts have a minimum deposit of 500 ZAR, which most traders will be able to afford. The trading costs on the Trade MT4/MT5 accounts are around 8 USD per lot traded, while the trading costs on the MT4/MT5 Zero Accounts are around 7 USD per lot traded. These trading costs are some of the lowest in the industry.

Commission Structure

A commission is charged per lot on Zero.MT4 & Zero.MT5 accounts. This is a commission for a single side trade. Commission for a round turn trade (opening and closing) is doubled and is fully charged at the opening of the order.

Overall, Admirals’ trading costs and minimum deposit requirements are lower than other similar brokers, and it offers trading on a wide range of assets, making it appealing to both beginners and experienced traders alike.

Trading Accounts

We opened and tested Admirals’ accounts:

Trade.MT5

The Trade.MT5 Account has a minimum deposit requirement of 500 ZAR, leverage up to 500:1, and no commissions are charged for Forex trading.  Spreads start at 0.80 pips for the EUR/USD, and it is available as an Islamic swap-free account.  

Zero.MT5

With a minimum deposit requirement of 500 ZAR, the Zero.MT5 account has spreads starting at 0.0pips on the EUR/USD, and a commission of between 1.8 and 3 USD is charged per lot per side (see below for commission structure). 

Trade.MT4

The minimum deposit on this account is also 500 ZAR. Spreads start at 0.5 pips (EUR/USD) on this account, and no commissions are charged.  Note that there are no Islamic swap-free options on this account.  

Zero.MT4

The minimum deposit is 500 ZAR on this account, leverage is up to 500:1, and spreads start at 0.0 pips on the EUR/USD.  A commission of between 1.8 and 3 USD is charged per side per lot traded, dependent on the trading volume. This account does not offer Islamic swap-free options.

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Admirals's Trading Platforms

Admirals allows traders to trade on both mobile and desktop platforms, with its proprietary mobile app, MT4 and MT5 mobile and desktop platforms.

Mobile Platforms

Developed entirely in-house, the Admirals app is available on both Android and iOS. 

Features: We found that the Admiral Markets’ trading app has a clean interface and is easy to use.  It has a sophisticated dashboard and intuitive home screen that allows you to add instruments to your watchlists,  view market analysis materials, and contact customer support from within the app.  It also has excellent search functionality and it’s simple to place orders, set price alerts, and view live prices and charts. Admirals has also updated its charts, and traders can tap with one finger to check the price for a selected period or tap with two fingers to check the price difference for a selected range.

Admirals App

Conveniently, we were also able to deposit and withdraw funds and upload and scan our documents.  

MT4/MT5 Mobile Applications

Both trading platforms are available on both Android and iOS mobile devices and tablets. Beginner traders should be aware that there is some loss in functionality when compared to the desktop trading platforms, including reduced timeframes and fewer charting options.  In addition, spotty connections can reduce the overall trading experience. Generally, it is better to be at your desktop to conduct day-to-day trading and use a mobile device to keep an eye on the markets or close open positions.

The Admirals MT4 and MT5 apps allow traders to work from anywhere, with functionality to close and modify existing orders, calculate profit/loss in real-time, and tick chart trading to further assists traders while on the mov

Trading Platform Comparison

Broker
Platform Choice
Copy Trading
Platforms
Admirals
4.5
/ 5
Read Review
Yes
MT4
MT5
Axi
4.5
/ 5
Read Review
Yes
MT4
MT5
TradingView
Pepperstone
5
/ 5
Read Review
Yes
MT4
MT5
cTrader
TradingView
Pepperstone Platform
Pepperstone Platform

Admirals’ mobile trading support is better than that of other brokers, with support for the MT4/MT5 apps in addition to its own mobile app.

Desktop Trading Platforms

The MT4 and MT5 trading platforms are available as downloads for your computer and as a Webtrader in your browser. 

MT4 and MT5

The benefit of Admirals offering third-party platforms such as MT4 and MT5 is that traders can take their own customised version of the platform with them should they choose to migrate to another broker.  Additionally, thousands of plugins and tools are available for both the MetaTrader platforms.   

While MT4 has great customizability, the platform feels outdated, and some of the features can be hard to find.  MT5 is more powerful and faster than MT4 when it comes to back-testing functionality for automated trading algorithms.  It also has a built-in news feed, market depth indicator, economic calendar, and trades can be made on the charts. 

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Admirals Deposits and Withdrawals

Admirals offers a limited number of funding options compared to most other brokers.  Additionally, deposit and withdrawal fees are high for currencies other than those supported by Admirals, and its processing times are slow.  

Account Currencies and Funding Options

As a well-regulated broker, Admirals does not process payments to third parties. All withdrawal requests from a trading account must go to a bank account or a source in the trader’s name. 

Trading Account Currencies: Deposits to trading accounts can be made in most national currencies, which are subsequently converted into EUR, USD, ZAR, or other applicable currencies. Having accounts denominated in ZAR means that South Africans will be able to avoid paying currency conversion fees on deposits and withdrawals. However, if during an internal transfer between a client’s accounts there are different base currencies, a fee of 1% will apply. 

Deposits and Withdrawals: Deposits can only be made via bank transfer and credit or debit cards. Withdrawals can only be made via bank transfers.

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Admirals’s Research and Trading Tools

Admirals’ trading tools are average compared to other brokers. It offers Trading Central and a number of excellent analytics tools.

Trading Tools

Trading Central

A third-party tool, Trading Central’s professional analysts use the most advanced technical analysis tools in the industry to gather the most comprehensive and in-depth market information. This tool essentially supports traders without the technical know-how in making trading decisions.  Trading Central is considered one of the best trading tools in the industry, and Admirals does well to offer this tool to its clients.

Trading Tools Comparison

Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
VPS services are usually offered free with a minimum trade volume, otherwise a monthly subscription fee will apply. VPS services are usually hosted by third-party companies.
Admirals
Yes
No
Yes
No
No
Axi
Yes
Yes
No
No
Yes
Pepperstone
Yes
Yes
No
Yes
Yes

Market Analysis

Admirals market research materials are comprehensive and well-structured, and compare well to other large international brokers.  

  • Trading News: The Trader`s Blog, which is open to all clients, provides daily economic news and context or analysis to help traders find new opportunities through insightful and practical market information. Other articles include a more in-depth analysis of a specific subject. 
  • Market Heat Map: The Market Heat Map is a real-time visual method of following asset price movements and obtaining daily trading data from the FX and CFD markets. This tool highlights the most volatile assets, and thus presents various trading opportunities.

Admirals Heat Map

  • Market Sentiment: The Market Sentiment tool is a visual interpretation of aggregated data from multiple service providers showing the relationship between open long and short positions. Market sentiment data is useful to help understand macro trends and the mood of the trading collective. This information is especially useful for traders holding positions for long periods.
  • Premium Analytics: Launched in September 2019, Premium analytics was launched with free access for demo and live accounts.  With it, premium data feeds are used to deliver the best information to traders.  
  • Weekly Podcast: Admirals delivers a weekly podcast that covers the most engaging and informative trading news and analysis possible. New podcasts will be available every Monday, covering the economic news and events of the past and coming week, as well as offering market analysis and trading strategies. 
  • Forex calendar, or economic calendar: A list of scheduled events that could affect the currency markets.
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Admirals’s Educational Material

Admirals offers an excellent educational repository that is suited to traders of all experience levels.

Admirals for Beginners

The educational material available through Admirals is extensive and varied. Split into different sections, Admirals offers a structured course, a knowledge base, an overview of risk management, and frequent webinars.

Admirals also provides a free, structured Forex and CFD trading course called Forex 101, designed to help beginners learn how to trade. It is a collection of nine online lessons split into beginner, intermediate and advanced stages, and all lessons are taught by professional traders. The course covers everything from setting up MT4 to managing risk and is an excellent resource for new traders.

The articles and tutorials section covers Forex Basics, Forex Analysis, Forex Strategy, Forex Indicators, Trading Psychology, Trading Software, Automated Trading, and Cryptocurrencies. This section is best used as a knowledge base or as an additional resource once the Forex 101 course has been completed. A separate glossary is on hand to help beginners with new terminology.

The risk management section covers best practices, an introduction to leverage and leverage effect, and how rapidly moving markets can create gaps in charts.

Admirals also provide expert-led webinars. Webinar topics include commentary on the upcoming week or educational webinars like Mastering the 4Ms of Trading, which help traders develop trading skills and build confidence.

Education Comparison

Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
Admirals
Yes
Yes
Yes
High
Yes
Axi
Yes
No
Yes
Medium
No
Pepperstone
Yes
Yes
Yes
Medium
Yes
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Admirals’s Customer Service

Admirals’ customer support team is available during business hours, five days a week, via live chat, email, and phone in 23 different languages.  Drop-in appointments are also available at any of their office locations.

24/5 Customer support

Furthermore, remote support for technical issues related to MetaTrader is available to clients during business hours.

For the purposes of this review, we found the customer service responsive, knowledgeable, and polite, but the live chat function does not seem to work under the FSCA subsidiary.  

How We Score and Rank Forex Brokers

At FxScouts, our Broker Score and Trust Rating are designed to provide traders with an objective, data-driven evaluation of forex brokers. We continuously refine our methodology to reflect market changes, ensuring transparency and accuracy in our rankings.

Our independent review process analyzes 200+ data points across seven key categories, incorporating:

  • Regulation & Trustworthiness – Regulatory status, security measures, and broker reputation
  • Trading Costs & Fees – Spreads, commissions, and hidden charges
  • Platforms & Execution – Trading tools, execution speed, and user experience
  • Asset Selection: Forex, stocks, and other available instruments
  • Deposit & Withdrawal – Processing times, local banking support, and transaction costs
  • Education & Research – Quality of learning resources for beginners and experienced traders
  • Customer Support – Response times, multilingual service, and problem resolution


To ensure fairness and transparency, we independently verify broker claims and integrate real-user feedback, regulator data, and live trading tests. The radar chart to the left illustrates the weight of each category in our final scoring system.

Why Our Reviews Set the Standard

Every broker we recommend meets strict trust and safety criteria and is tested for reliability, transparency, and overall trading experience.

Admirals Risk Statement

Admirals Risk Statement

According to regulation, brokers are required to be transparent with Forex traders about the complexity of financial products and also disclose the extent to which traders can lose their money. Admirals wants you to know:  CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. 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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User Reviews

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Meet the Experts Behind Our Unbiased Reviews

Chris Cammack

Partner Manager and Financial Writer

Chris Cammack
Chris Cammack is partner manager and senior financial writer at FxScouts, specialising in broker relations and forex market analysis. As the former Head of Content (2019–2024), he set editorial standards for all content published at FxScouts, including broker reviews, broker comparison pages and education. With over a decade of experience in editorial management and partner relations, Chris builds and maintains our relationships with our partners to provide the best Forex trading experience for our users. Healso co-hosts the “Let’s Talk Forex” podcast with Alison Heyerdahl, where he explores trading strategies, industry news, and macroeconomic trends to help traders navigate the markets with confidence.

Alison Heyerdahl

Head of Content

Alison Heyerdahl
Alison Heyerdahl is the Head of Content at FxScouts, a Chartered Market Technician (CMT), an experienced trader, and a financial writer with extensive hands-on experience in the Forex trading industry. She specialises in Forex trading, broker analysis, and market research, with a focus on helping traders navigate the complex world of online trading safely and confidently. Alison has tested and reviewed more than 100 Forex brokers, assessing everything from regulatory status and trading conditions to platform features and customer support. Her goal is to provide honest, detailed, and practical insights that traders can rely on when choosing a broker. She’s also produced more than 100 educational videos for the FxScouts YouTube channel, where she explains trading concepts in a clear, accessible way. As the co-host of the “Let’s Talk Forex” podcast, Alison shares expert commentary on broker reliability, trading strategies, and market developments—always with a focus on transparency and trader protection.

Stefan de Clerk

Financial Writer

Stefan de Clerk
Stefan is a financial writer and Forex trading enthusiast with over a decade of experience creating in-depth content on finance and technology. His deep interest in geopolitical events, big data, and market sentiment fuels his passion for analyzing how global factors shape financial markets. With a background in marketing and financial research, Stefan believes that Forex trading offers the best insight into the pulse of the world economy. Committed to delivering well-researched, unbiased, and objective information, he helps traders navigate the markets with clarity and confidence.
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