Brexit and the Admiral Markets Cyprus Ltd Trading Account

January 12, 2021 15:30

Dear traders,

The transitional period for Brexit ended December 31, 2020, and on January 1, 2021, the United Kingdom officially left the European Union. As a global broker, the Admiral Markets Group has long had a regulated entity within the European Union.

Open an Admiral Markets Cyprus Ltd account

All European clients can freely choose to open a trading account with Admiral Markets Cyprus Ltd.

What are the Guarantees when trading with Admiral Markets Cyprus Ltd?

Admiral Markets Cyprus is a European broker regulated in Cyprus, as such our clients are protected by the rules of CySEC and ESMA (European Authority of Financial Markets).

Retail customers are protected against a negative balance without an amount limit, and professional customers are protected against a negative balance up to the limit of €50,000 per customer, in accordance with our negative account balance protection policy.

Protection of Client Funds

Fund protection for Admiral Markets Cyprus Ltd clients is provided by the Investor Compensation Fund. Fund compensation can be up to €20,000 per covered client.

Trading conditions

The Admiral Markets Group made the choice, long before Brexit, to standardise its trading conditions within all of the group's entities.

Because of this, there will be no changes in the trading conditions. You will be able to continue trading with our ultra-competitive spreads down to 0.8 for the DAX30 and 0.6 for the EUR/USD, enjoy super-fast execution and all the other advantages of Admiral Markets.

FAQ

Can I transfer funds from another Admiral Markets entity to my Admiral Markets Cyprus Ltd trading account?

Yes, all you need to do is open an Admiral Markets Cyprus Ltd trading account, go to your Trader's Room, select the Transaction tab and select Transfer to Another Company.

Do I have to redo the entire account opening procedure if I am already a client of another Admiral Markets entity?

No, all you have to do is log into your Trader's Room, go to the top left on the “You are trading with” button and select Admiral Markets Cyprus Ltd. Once on the page, just click on open a new real account. Your documents have already been validated when you opened your first account, you will not need to send them back.

What changes in terms of guarantees?

The guarantee for customer deposits and the compensation fund is a maximum of €20,000 per customer.

What is changing about deposits and withdrawals?

The fees for deposits and withdrawals remain exactly the same as before Brexit.

Are the conditions for becoming a professional trader the same?

Yes, the conditions for accessing the status of professional trader are identical.

Will negative balance protection still work?

Yes, the Admiral Markets Group protects all of its retail clients against negative balance under all group entities. Professional clients are protected up to €50,000, in accordance with our negative account balance protection policy.

Can I choose to trade with Admiral Markets under European Union regulation?

Yes, you are free to choose the Admiral Markets entity you wish to trade with. You can select it at the top left of your Trader's Room.

Best regards,

Admiral Markets

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