Admiral Markets Group consists of the following firms:

Admiral Markets UK Ltd

Regulated by the Financial Conduct Authority (FCA)
  • Leverage up to:
    1:30 for retail clients,
    1:500 for professional clients
  • FSCS protection
  • Negative balance protection
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Admiral Markets AS

Regulated by the Estonian Financial Supervision Authority (EFSA)
  • Leverage up to:
    1:30 for retail clients,
    1:500 for professional clients
  • Guarantee Fund
  • Negative balance protection
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Admiral Markets Cyprus Ltd

Regulated by the Cyprus Securities and Exchange Commission (CySEC)
  • Leverage up to:
    1:30 for retail clients,
    1:500 for professional clients
  • ICF protection
  • Negative balance protection
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Admiral Markets Pty Ltd

Regulated by the Australian Securities and Investments Commission (ASIC)
  • Leverage up to:
    1:500 for retail clients
  • Volatility protection
  • Negative balance protection
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What is the Best CFD and Forex Trading Account?

Reading time: 11 minutes

When it comes to the world of trading, picking the right account type is perhaps one of the most important decisions you need to make. That's because it can have a direct impact on your profit and loss. As the financial markets are full of a diverse range of people (beginners, intermediate level traders, seasoned pros, institutions, and more) there are many different account types on offer. So how do you choose the right Forex trading account for you?

Forex trading account

ou may not know the difference between an ECN account and an STP account. You might not even know the impact of transactions costs, spreads and commissions on your trading. That's why in today's article we discuss everything you need to know about choosing the right forex trading account. So, by the time you've finished reading, you'll be able to open up your chosen account at the click of a button. Let's get started.

Things to Consider when Choosing the Best Trading Account

There are many things to consider when choosing an account type. Many of your decisions will be affected by your level experience, starting capital, trading style and more. However, there are some core considerations that apply to choosing the best trading account, no matter the level or status of the trader. They include:

  1. Transaction costs, spreads and commissions
  2. Trade routing: An STP account versus an ECN account
  3. Trading software and platform
  4. Range of markets available

Let's discuss each of these in more detail before we summarise the different account types that are available.

The Importance of Transaction Costs, Spreads and Commissions

Most individuals are trading the market to make a profit. However, while making the right trade to turn a profit is important, holding on to that profit is even more important. That's why your transactions costs, spreads and commissions matter.

The 'spread' is a cost of trading that is defined by the difference between the buy price (or ask price) of a market and its sell price (or bid price). For example, if the quote of EUR/USD is 1.1500 / 1.1501 then the spread would be 1 pip. If you were to buy the currency at 1.1501 and sell it immediately at 1.1500 you would be down 1 pip, making it being a cost of trading.

Spreads vary throughout the trading day depending on liquidity and the supply and demand of the instrument you are trading. However, simply having the right account type can help an individual trader stay ahead of the game.

For example, when we review the different account types later in this article, you may see that the Admiral.Markets account offers commissions from just USD0.01 per share for single share and ETF CFDs. Meanwhile, Admiral.Prime accounts offers commissions on Forex and metals just USD 3 per lot (which is equivalent to 100,000 units of currency) per trade.

MT4 supreme edition

Choosing a Trading Account: STP Account vs. ECN Account

Dealing desk brokers, which are also referred to as 'market makers', often have business models that may not act in the trader's best interest. That's because in this type of execution the broker usually takes the opposite side of your trade. Therefore, they have a vested interest in seeing you lose on the trade.

However, both STP accounts and ECN accounts are referred to as non dealing desk accounts. This means they route your order straight through to their liquidity provider (usually a top tier bank) or straight into the interbank market. The benefit of this is that they are simply matching your orders with other orders in the market, rather than taking the other side of your trade.

So what's the difference between an STP account and an ECN account, and why does it matter?

  • STP, or Straight Through Processing, is where all orders are routed directly to the broker's main liquidity providers. These tend to be the big banks, hedge funds, and so on. In most cases, the STP broker will have their own internal system which links to their different liquidity providers who compete for the best prices (bid/ask orders). This helps the individual trader get the best possible price.
  • An ECN, or Electronic Communication Network, is similar to the STP technology. However, the biggest difference is how trades are routed. Essentially, the ECN network is a place where individual forex traders can trade directly with the liquidity provider, without any intermediaries.

Accessing the Best Trading Software and Platform

The last thing any trader wants is to spend time researching their trade, waiting patiently to execute it and then suddenly their trading platform lets them down. That's why most brokers offer MetaTrader 4 and MetaTrader 5 with their trading accounts.

Both platforms offer charts and broker integration for one-click trading, as well as many other features such as:

  • Free indicators and charting tools
  • Real-time market data
  • Volatility protection settings
  • Expert advisors for customised indicators and automated trading strategies
  • Mobile trading
  • MetaTrader Supreme Edition add-on (exclusive to Admiral Markets) including a built-in economic calendar, market analysis tools, advanced order types, correlation matrix and more

Admiral Markets offers trading on both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), as well as MetaTrader WebTrader which allows trading direct from your browser. One of the main differences between MetaTrader 4 and MetaTrader 5 is the range of markets available to trade.

Range of Markets Available

Accessing international markets has never been easier. More and more traders diversify their forex trading account by accessing other markets such as Index CFDs, Stock CFDs, Bond CFDs, Commodity CFDs as well as direct investing in Stocks and ETFs. All of this can be done with Admiral Markets MetaTrader accounts.

However, while the Admiral.Markets MT4 account offers 64 major Stock CFDs, the Admiral.MT5 account offers access to over 3,000 Stock CFDs and 300 ETF CFDs. The Admiral.Invest account allows you to use the MetaTrader 5 platform to invest into more than 4,000 stocks and over 200 ETFs, making it a great way to diversify as a forex trader.

Before choosing the best trading account type for you, let's summarise the offering between the accounts and their differences.

The Admiral.Markets MT4 Trading Account

The Admiral.Markets trading account is a popular account type for those wanting to trade multiple asset classes on one of the most secure and reliable trading platforms on offer - MetaTrader 4. Here are some more details:

  • Minimum deposit:
    • 200 EUR
    • 200 USD
    • 200 GBP
    • 200 CHF
  • Account balance currencies: EUR, GBP, USD, BGN, BRL, CHF, CLP, CZK, HRK, HUF, MXN, PLN, RON
  • Markets available:
    • Currencies (36)
    • Cryptocurrency CFDs (5)
    • Spot Metal CFDs (4)
    • Spot Energy CFDs (3)
    • Index Futures CFDs (4)
    • Cash Index CFDs (16)
    • Stock CFDs (64)
    • Bond CFDs (2)
  • Spreads: From 0.5 pips
  • Commissions:
    • Forex and Metals from 3 USD/EUR/CHF per 1 lot (100,000 units of currency)
    • Single Share and ETF CFDs from 0.01 USD per share
  • Platform: MetaTrader 4, MetaTrader Web Trader, MetaTrader Mobile Trading

The Admiral.MT5 Trading Account

The Admiral.MT5 trading account is another popular account type for multi asset class traders. One of the biggest differences is that the range of markets available on MetaTrader 5 is far bigger than that on MT4. There are some additional benefits as described below:

  • Minimum deposit:
    • 200 EUR
    • 200 USD
    • 200 GBP
    • 200 CHF
  • Account balance currencies: EUR, GBP, USD, BGN, BRL, CHF, CLP, CZK, HRK, HUF, MXN, PLN, RON
  • Markets available:
    • Currencies (36)
    • Cryptocurrency CFDs (32)
    • Spot Metal CFDs (5)
    • Spot Energy CFDs (3)
    • Spot Agriculture CFDs (7)
    • Index Futures CFDs (4)
    • Cash Index CFDs (16)
    • Stock CFDs (over 3,000)
    • ETF CFDs (over 300)
    • Bond CFDs (2)
  • Spreads: From 0.5 pips
  • Commissions:
    • Forex and Metals from 3 USD/EUR/CHF per 1 lot (100,000 units of currency)
    • Single Share and ETF CFDs from 0.01 USD per share
  • Platform: MetaTrader 5, MetaTrader Web Trader, MetaTrader Mobile Trading
  • Market depth: Exclusive to MetaTrader 5, you can view the order book to assess the liquidity of the instrument you are viewing

The Admiral.Prime Trading Account

The Admiral.Prime is a unique offering for those who want to elevate their trading level. The account is based on Admiral Markets' own STP technology so traders can trade directly with top-tier liquidity providers. Access to this advanced offering also comes with additional benefits:

  • Minimum deposit:
    • 1000 EUR
    • 1000 USD
    • 1000 GBP
    • 1000 CHF
  • Account balance currencies: EUR, GBP, USD, BGN, CHF, CZK, HRK, HUF, PLN, RON
  • Markets available:
    • Currencies (45)
    • Spot Metal CFDs (3)
  • Spreads: From 0 pips
  • Commissions:
    • Forex and Metals from 3 USD/EUR/CHF per 1 lot (100,000 units of currency)
  • Platform: MetaTrader 4, MetaTrader Web Trader, MetaTrader Mobile Trading

One of the major differences with the Admiral.Prime account is the fact the spreads start from 0 pips, which means you can also trade inside the spread value with no requirements on minimum volume (order can start from just 0.1 lot).

Whilst the minimum deposit may be higher than other accounts, the lower cost of spread, lightning fast execution and ability to trade in the interbank market makes this the go-to platform for serious Forex traders.

The Admiral.Invest Account

The Admiral.Invest account is a unique offering for those who want to invest directly in publicly traded companies and funds across 15 of the largest stock exchanges in the world.

  • Minimum deposit:
    • 500 EUR
    • 500 USD
    • 500 GBP
    • 500 CHF
  • Account balance currencies: EUR, GBP, USD, BGN, CHF, CZK, HRK, HUF, PLN, RON
  • Markets available:
    • Stocks (over 4,000)
    • ETFs (over 200)
  • Spreads: From 0 pips
  • Commissions:
    • Stocks and ETFs from 0.01 USD per share
  • Platform: MetaTrader 5, MetaTrader Web Trader, MetaTrader Mobile Trading
  • Market Depth: Exclusive to MetaTrader 5, you can view the order book to assess the liquidity of the instrument you are viewing

Additional Features for Your Trading Account

On top of the offerings above, all four types of trading account offer:

  • No requotes - get the price you want
  • Hedging allowed (excluding Admiral.Invest) - execute and hold trades in opposite directions on the same trading instrument
  • Expert advisors - use automated trading strategies and customised coded indicators
  • MetaTrader Supreme Edition Add-On - access advanced tools such as a built in economic calendar, advanced order types, correlation matrix, market session maps and more
  • One-click trading - enter the market without any additional confirmations to speed up your trading process
  • Volatility protection settings - access a unique set of advanced tools to help you minimise risk while trading
  • Negative balance protection policy - this means you are covered in the event your account moves into a deficit on an abrupt market move on leveraged positions

The additional features of the four different trading accounts can be extremely useful. The negative balance protection policy is also available for retail and professional clients across all account types.

Which Trading Account Is Right for You?

Choosing the right forex trading account can depend on a number of factors, such as your trading style, level of seriousness and capital. While all four trading accounts discussed have unique benefits, forex traders may want to consider the advantages of Admiral.Prime due to the spreads starting from 0 pips, low commission costs and lightning fast execution.

However, all accounts offer something slightly different and many traders will hold several different types of trading account for different purposes. For example:

  • If you are a short-term forex trader who enjoys scalping and day trading, and want to transact direct in the interbank market with the lowest spreads available then the Admiral.Prime trading account is worth considering.
  • If you are a trader looking to trade multiple asset classes like Forex, Index CFDs and Commodity CFDs then you may want to consider the Admiral.Markets trading account.
  • If you are looking to diversify your trading into over 3,000 different Stock CFDs from around the world and access more Commodity CFD markets, then the Admiral.MT5 trading account is worth looking into.
  • Finally, if you are looking to invest in shares and ETFs to hold investments for a longer period of time, then the Admiral.Invest may be the one for you.

As the choice is yours, it is prudent to think about your future trading goals to set yourself up the right way starting today.

MT5

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.

Risk Warning

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% 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.