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Admirals South Africa Review 2024 - TU expert opinion

Updated: May 02, 2024
Mikhail Vnuchkov
Contributor
Opinions expressed by Traders Union Contributors are their own.
Reviewed by
Dr. BJ Johnson
Editor
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Table of Contents

  • Is Forex legit?
  • Our Evaluation of Admirals
  • Detailed Review of Admirals in South Africa
  • Advantages of Admirals for trading in South Africa
  • Analysis of the Main Features of Admirals
  • Trading Conditions for Admirals Users in South Africa
  • Admirals Commissions and Fees
  • FAQs
Editorial Note: While we adhere to strict Editorial Integrity, this post may contain references to products from our partners. Here's an explanation for How We Make Money. None of the data and information on this webpage constitutes investment advice according to our Disclaimer.

Is the Forex market legit in South Africa?

Our Evaluation of Admirals

8.33/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details

Admirals is one of the top brokers in the financial market with the TU Overall Score of 8.33 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews prove that the broker’s clients are fully satisfied with the company.

Admirals is a suitable broker for both beginner traders as well as professional traders.

Detailed Review of Admirals in South Africa

Admirals is a good choice for traders from South Africa. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients.

Admirals was founded in 2001. Over more than 20 years, it has grown into a group of companies operating in more than 130 countries worldwide. During this time, the broker has become a high-tech platform that operates in both over-the-counter and stock exchange markets. Through direct access to institutional liquidity providers, Admirals offers traders the best spreads and guarantees almost no requotes and slippages when trading CFDs. The broker’s separate technological solution is the Invest account, which provides for trading stocks and ETFs with a minimum deposit of $1.

Does Admirals allow scalping?

Admirals by the numbers:

  • 5,000+ assets from exchange and over-the-counter markets.

  • More than 6 licenses from regulators and insurance of client money of up to $100,000, regardless of the trader’s jurisdiction.

  • 1,000,000+ users worldwide.

Advantages of Admirals for trading in South Africa

Traders Union analysts conducted a detailed analysis of Admirals for traders from South Africa. The experts outlined the key benefits of the company for the clients from this country. The advantages of the broker are as follows:

1

rapid account opening;

2

possibilities of rapid deposit and withdrawal;

3

many European currencies are available for trading;

4

several types of analytics that allow you to decide on the next steps;

5

minimum spread.

You can use proven trading strategies to increase the efficiency of your work on the Admirals website.

Analysis of the Main Features of Admirals in South Africa

Admirals Review
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Traders Union analysts analyzed the key features of Admirals for traders from South Africa. TU uses its own evaluation method, assessing each block separately. Based on the results of the assessment, an overall score is given.

User Satisfaction Customer Satisfaction Score (CSAT) is a unique metric of Traders Union based on the analysis of user reviews posted on pages of each broker profile by the visitors of our website from all around the world. We have been collecting these broker reviews for over 13 years, and therefore, we know and understand the level of customer satisfaction with a specific brokerage company better than anyone else.

7.72

/10

Regulation and safety The score for this parameter is based on the licenses a company holds. The higher the level of the license, the higher the score. Obtaining licenses in other jurisdictions also improves a broker’s score. We divide all licenses into three levels:

Level 1 jurisdictions (high level of trust): CFTC – USA, FINMA – Switzerland, FCA — UK, ASIC – Australia, CBI – Ireland, JFSA — Japan, MAS – Singapore, FMA — New Zealand, IIROC – Canada, SFC – Hong Kong.

Level 2 jurisdictions (medium level of trust): CySEC – Cyprus, FSCA – South Africa, CBRC – China, SEBI – India, ISA – Israel, SECT – Thailand, DFSA – United Arab Emirates

Level 3 jurisdictions (low level of trust): FSC – Belize, FSC – British Virgin Islands, FSC – Mauritius, VFSC – Vanuatu, SCB – The Bahamas, BMA – Bermuda, CIMA – Cayman Islands

9.31

/10

Commissions and fees This parameter comprises a comprehensive analysis of all commissions and fees charged by a brokerage company, including trading and deposit/withdrawal fees. Also specific fees, for example the inactivity fee, are taken into account in the final score for the fees. Users can find detailed fees charged by a company in the broker’s profile.

8.57

/10

Trading instruments For this parameter, we evaluate the number of trading assets a broker offers access to in each group of financial instruments. We analyze the quotes a broker offers on Forex pairs, metals, indices, commodities, stocks, and cryptocurrencies. This parameter also includes evaluation of broker’s investment programs, for example access to copy trading, which we regard as an additional type of a trading instrument.

8.75

/10

Brand popularity Traders Union experts are confident that brand awareness mostly fully reflects the real state of affairs in a company – the more popular the broker, the more people trust it. The score for this indicator is based on the data analysis of such services as Ahrefs and SemRush, which show how often a company’s brand is searched on Google. In addition, indicators of the SimilarWeb service, which show the approximate number of visitors of the broker’s website, are also taken into consideration. We also review disclosed official reports of brokers, which allow for evaluating their client base.

7.65

/10

Customer support The score of this parameter is based on the number of available communication channels of a company’s support service. The quicker and easier it is to contact the broker’s support, the higher the score. We check every available support channel, test the speed of processing of requests and completeness of provided information through several interactions.

8.20

/10

Education This parameter provides an evaluation of a company’s capacity to work with beginners. Only quality training and provision of full and unbiased information can help novice traders and investors minimize the risks of losing money, even when working with top-ranked companies. Brokers with useful educational and informational tools, including webinars, tutorials, podcasts and articles, receive higher scores.

8.09

/10

Trading conditions for Admirals traders from South Africa

It is important to assess trading conditions before you decide to work with a specific company. Traders Union analysts have prepared a comparison of Admirals trading conditions for traders from South Africa. The experts analyzed minimum deposit, trading platforms, leverage and other important information that could impact a trader's choice of a broker.

💻 Trading platform:
МТ4, MT5, MetaTrader Supreme Edition, WebTrader
📊 Accounts:
ASIC - AUD and USD. FCA - EUR, USD, GBP, CHF, and RUB. CySEC - EUR, USD, GBP, CHF, BGN, RON, PLN, HUF, HRK, and CZK. JSC - EUR, USD, JOD, AED, and GBP
💰 Account currency:
ASIC - AUD, USD. FCA - EUR, USD, GBP, CHF, RUB. CySEC - EUR, USD, GBP, CHF, BGN, RON, PLN, HUF, HRK, CZK. JSC - EUR, USD, JOD, AED, GBP.
💵 Replenishment / Withdrawal:
Bank transfer, Visa and MasterCard bank cards (deposits only), Skrill, and Neteller for the ASIC regulated broker. Bank transfer, Visa and MasterCard bank cards, Skrill, Neteller, Klarna (deposits only), PayPal, and iBank&BankLink for the FCA regulated broker. Bank transfer, Visa and MasterCard bank cards, Skrill, and Klarna (deposits only) for the CySec regulated broker. Bank transfer, Visa and MasterCard bank cards (deposits only), and Perfect Money for the JSC regulated broker.
🚀 Minimum deposit:
$1 — $100, $250
⚖️ Leverage:
Up to 1:20-1:30 for retail traders subject to the asset type, up to 1:10-1:500 for professional traders, and up to 1:10-1:500 for all traders with JSC.
💼 PAMM-accounts:
No
📈️ Min Order:
0.01 (step — 0.01) — 100
💱 Spread:
From 0-0.5 pips.
🔧 Instruments:
stocks, ETFs, as well as CFDs on currency pairs, commodities, stocks, indices, bonds, ETFs, and cryptocurrencies.
💹 Margin Call / Stop Out:
50% for retail traders and 30% for professional traders.
🏛 Liquidity provider:
Institutional banks from different countries, such as Citibank, Goldman Sachs, UBS, and Deutsche Bank.
📱 Mobile trading:
Mobile version available
➕ Affiliate program:
Yes
📋 Orders execution:
Market and exchange execution for the Invest account
⭐ Trading features:
Available options for protection against volatility; One-click trading. There is a copy trading platform (available with CySec)
🎁 Contests and bonuses:
No

Admirals Commissions and Fees

Traders Union analysts analyzed commissions and fees charged by Admirals for traders from South Africa. Within the framework of the analysis, all types of trading and non-trading fees traders are charged with were evaluated.

Information

TU experts have analyzed trading conditions (spreads and fees) of the Admirals group of companies. Results are provided as a list:

  • Spreads and fees are not subject to the broker. It means that liquidity providers are the same for the entire group.

  • The Zero MT4/MT5 account has a fixed fee per 1 full standard lot. Forex and metals are charged with a fee ranging from $1.8 to $3 per 1 lot. Energies are charged with a $1 fee per lot. The fee is indicated per one transaction, thus it is doubled when closing a trade.

  • There is a $0.02 fee per transaction for trading stocks and ETFs.

  • There is a withdrawal fee which is subject to the payment system and the broker. Its minimum ranges from $1 to $15. All withdrawal fees are discussed in detail in the following blocks.

Account type Spread (minimum value) Withdrawal commission
Trade MT4/MT5 from $5 Yes
Zero MT4/MT5 from $0 Yes
Zero MT4/MT5 from $0 Yes

Also, TU experts have compared Admirals’ spreads with those of its main competitors. Spread (expressed in USD) for the EUR/USD pair on a standard account per 1 full lot was taken as the basis.

FAQs

Is Admirals legal in South Africa?

Yes. Admirals operates legally in South Africa. The broker holds the necessary licenses.

Can you learn trading with Admirals? Does the broker offer courses for traders from South Africa?

Yes, Admirals offers good trading courses and a lot of educational information for clients from South Africa.

Can Admirals be trusted? Has the broker been operating in South Africa long?

Admirals has been operating in South Africa quite long and has a good reputation. Therefore, traders can work with Admirals.

Is Admirals suitable for novice traders from South Africa?

Yes. Admirals offers optimal trading conditions and good education for beginners from South Africa.

How efficient is Admirals customer support in South Africa?

Admirals offers a sufficient number of ways to contact customer support in South Africa, and also provides support in the state language.

Has Admirals had any incidents involving theft of funds of clients from South Africa?

No. Admirals provides reliable security of funds of clients from South Africa.

Will I be able to file a lawsuit in South Africa if Admirals violates my rights?

Yes. If Admirals violates your rights, you can file a complaint with the regulator of South Africa, and then with a court.

Can Admirals clients from South Africa use the broker’s mobile app?

Yes. The mobile app of Admirals is available for the clients from South Africa.

Does Admirals provide South Africa market analysis?

Analysis of South Africa is featured in the information provided by Admirals.

How can I withdraw funds from my account at Admirals in South Africa?

Admirals supports bank transfers and debit/credit cards of the banks operating in South Africa.

Team that worked on the article

Mikhail Vnuchkov
Mikhail Vnuchkov
Author at Traders Union

Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.

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Dr. BJ Johnson
Dr. BJ Johnson
Developmental English Editor

Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.

Read more