When connecting with a broker, a trader makes sure that the brokerage firm is not scamming him for the money he has. Simple things like having one single website can be enough to indicate that the broker is legitimate. Several things, like having multiple websites, divided based on location, indicate something else. The broker Admiral Markets claims that it has been providing reliability for more than 15 years, but we highly doubt that the following reasons support the cause of suspicion.
Admiral Markets mentions that it has been regulated with multiple regulatory authorities, but the truth is, each branch of the broker is regulated by a local regulatory authority. The broker gives no information about the regulation of the firm as a whole. The broker nowhere forgets to mention that it’s divided into three separate firms.
Since the broker is divided into three separate groups, it must be having a third party liquidity provider, but it is nowhere to be seen. Thus, it creates serious doubts.
Such divisions in business suggest some intrinsic non-balance situation and at the same time also suggest that while a trader might be looking for some opportunities at his bonafide location and the broker might be providing it somewhere else.
The broker provides unappealing content on its home page which redirects to the same register with us page, each time a trader wants to look at something new.
The broker claims that it is easy to trade, and makes it difficult for traders. Hence, disregarding the nature of the operating system. The trades willfully move further to understand what is it all about and before they know it, the broker wants them registered.
The broker fails to mention the clear benefits of one account over the other. It leaves the trader hanging out dry when it comes to more clear synopsis of each account. Despite each account having various constraints, the broker makes sure that all the positive aspects of the account and related trading are kept o the eye level and all the important and relevant information comes out at someplace else on the web page.
Poor trading division
The trader using an invest MT5 cannot only trade in stocks and ETFs, barring the trades for currencies, energies, metals and many more profit-making financial assets. Beyond that, the broker focuses on CFD trading and CFDs as we know it, are a dangerous trading instrument. The broker claims to let its users know about the risks involved but the eye-level displays, again, all the positive aspects of the instrument.
Apart from this, the broker also does not offer leveraged trading on the invest MT5 account. When it comes to commission-based earnings, the broker charges it. Brokers like Admiral Markets don’t want the trader to have more exposure to more profitable trades and hence, bars the users from better experiences a good leverage limit can provide.
The broker also has a specific pro account, which is only eligible for a “certain” class of traders. These traders who have been in the market for sometimes and have made successful traders are the ones who generate a lot of profit for the broker not just by winning trades but also by losing some. A balance in outcomes balances the liquidity flow from the broker to the liquidity provider.
Such practises don’t harm the broker but they are very bad for the trader. The invest pro account won’t even save the trader from a negative balance situation since the broker doesn’t back it with such policies.
Education and research material scam:
The broker does not provide any relevant information to the potential trader. Instead, each of its analytic section looks like a promotion section with the content being disorganised and kept irrelevantly in front of the user. When the user tries and looks at any fundamental analytics, the broker redirects the page to a content-heavy page which ironically, fails to deliver the content heavily.
The technical analytics page is also the same story, with irrelevant content being served to the user and the broker making money out of promotional advertisements. The premium analytics page asks the user to fill out forms so that they can gain access to a type of information that should ideally be given out free of cost.
Fundamental analysis of a company includes the financial statements of that company, not some irrelevant articles related to the upper layer of the market. Similarly, the technical analysis of stock includes technical indicators and charts and whatnot. The broker simply does not seem to care about these trading nuances and makes sure that the trader is focused on trading and giving out money in terms of investments.
The broker does not talk about the diversified portfolio a trade can have, anywhere on the webpage. Instead, Admiral Markets makes sure that the potential booker gets converted to a real one, mainly focusing on lead generation and not profit generation for a trader.
A potential trader is also asked if he or she is interested in webinars which are supposedly helpful in learning to trade. This is again, nothing but a lead generation scheme. If trading was that easy, the people giving out those webinars would be trading instead. So, the broker is not helping you, but generating resources for earning wealth on your behest. Stay away from such charlatans.
We request our traders to not fall for such false claims and baseless facts.
Brokers like Admiral Markets exist only so that they can eat the hard-earned money of the innocent and novice trader.
Zero To Hero Scam:
This is a scheme to fool innocent traders where the broker claims that it can make anyone an expert in trading in twenty days. When our team members began trading for th first time, it took them more than 20 days to understand the difference between trading futures and CFDs. No one can become an expert in something in that short span of time, not just trading.
The broker also claims to provide “an experience from theory to practice”. As a team of researchers, we think that twenty days are not sufficient for either one, let alone learning them together.
Admiral Markets trading platforms:
The broker forces the users to use MT4 and MT5, at the same time. It is natural that the previous platform has some issues and since a new platform has to be rolled out. But the broker seems to be astonished by the fact that the MT4 just exists. The newer platforms have better technical indicators and have better forecasts so that the trader can learn from them as much as he can. But the broker makes sure that the traders have to use MT4 as well so that they make less efficient trades which in the end, profits the broker more.
It does that because of the vested interest. Mostly, traders lose their money due to such bad tactics. Admiral Markets has a past embued with losing client’s money with the availability of inferior platforms.
Admiral Markets customer support:
The broker claims to provide customer services that are impeccable but we had to first fill out a form so that we could get in touch with the broker for the first time. The representatives were not responsive and could not answer straight. By the time we got connected to the representative, the involved trade had already been lost. You can understand the mind-situation of the potential trader.
Admiral Markets deposits and withdrawals:
The broker provides instantaneous request transaction wherever the deposits are involved. When it comes to withdrawals, that’s when commissions get involve. The broker provides two free withdrawals within a thirty-day span. After that for each withdrawal, the trader has to pay some amount of fee.
Admiral Markets commission and Fee:
There are two ways out of which, the broker uses one to earn the money. Either the broker charges a spread or it charges a commission and commissions are generally charged per trade.
The broker Admiral Markets charge spreads and commissions both. When the broker is not charging spreads, it is charging commissions and we the broker is not charging commissions, it is eating the traders’ money in the form of spreads.
The broker looks like a total scam and if we were in your place, we would have taken our balances out somewhere else, or we wouldnt get involved with them at all. Your money can also be at risk. So, think before investing with such firms. It is better to go with other reputed firms such as T1Markets, ROinvesting, 101investing, Global TradeATF, PrimeFin.