Admirals Wallet Tutorial: Seamless Account Management
As we continue towards bringing more options, flexibility and overall cohesiveness for our user's optimal experience here at Admirals (formerly Admiral Markets), we wish to formerly introduce you to the Admirals Wallet. Working in conjunction with the Admiral Markets Card and Trader’s Room, this is the remaining piece which connects the aforementioned together.
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Whether you are new to Admirals or have been with us for some time, the Admirals Wallet is a component of our offering which will simply make your financial experience with us much more streamlined and efficient. Long term investing, short term swing or day trading, copy trading - all goals and daily activities are considered within the application of the Admirals Wallet (given how they work in conjunction with the Trader's Room and Admirals Card). This tutorial will walk you through the benefits and how the use of the Admirals Wallet will improve your account management and financial lifestyle.
What is the Admirals Wallet? Who is Eligible?
The Admirals Wallet core purpose is to balance your operations within your account with us – You cannot trade using the Wallet (this is done within the Trader’s Room, where you can transfer Wallet funds to trade with). Each client, including IB Partners, have solely one wallet per registered region. Naturally, you will always be able to view your current balance and transaction history of the Admirals Wallet within the Dashboard, in the Trader's Room linked to your account with us. You must have a live account with Admirals in order to utilize the Wallet feature.
Conveniently, you may hold multiple currencies within your same wallet via different balances – For example, you can have 100 USD and 150 EUR, which you will see separately in the Dashboard interface. You can potentially hold up to 15 currencies in your wallet, if you so choose to (depending on your account region)!
Although you may hold multiple currencies, the Wallet will always require a default currency. You do have the ability to set your default currency to the one you prefer (again, depending on your account region).
However, if you do not personalize your currency, the default will be set for you. Depending on your country of residence where your account is tied to, this will determine your default currency:
- Australia users: AUD
- European Union users: EURO
- UK users: EURO
- Switzerland users: EURO
- Jordan users: USD
The list above also summarizes what users from which country can use the Admirals Wallet (with a live account).
If by any chance you make a deposit into your wallet with an unsupported currency, it will be converted into the default currency at the standard exchange rate.
With your Admirals Wallet, you can choose to Deposit (to the Wallet), Withdrawal (from the Wallet), Exchange (between currencies) or conduct an Internal Transfer to your trading account(s). Currency exchanges will be conducted instantly at the market rate, without additional fees (5 free currency exchanges, 1% fee thereafter, minimum 1 EUR).
How Does the Admirals Wallet Work?
The Admirals Wallet is a key tool to your account management and trading activity with us. As we have mentioned, the Trader's Room is your first key component, where you can access multiple accounts and trade and invest in over 4,000+ financial instruments.
Naturally, your Trader's Room is synced with your Admirals Wallet – You will be able to directly access your Admirals Wallet within your desktop account or mobile app. By having the wallet component active within your account, you can seamlessly link your trading and investing accounts with your payment method of choice. Having your payment methods connected with your Trader's Account gives you a huge advantage, as you can take advantage of upcoming trading and investing opportunities quickly, in just a few clicks.
Not only is the Admirals Wallet connected to the Trader's Room, but it is also synced with the Admiral Markets Card (available for Admiral Markets Cyprus Ltd clients only). This means you can seamlessly transfer funds from the Trader's Room, to the Wallet, and thus to the Card. You then have the freedom to spend via your card anywhere in the world which accepts Visa debit.
As you see, these three tools work as a perfect overall solution for you to trade and invest, access funds instantly in various currencies, and spend funds when it's convenient for you – All in one convenient platform. These capabilities are unique to Admirals and effectively contributes to our bottom line as the ultimate financial hub for smart investors.
How Can I Deposit and Withdrawal with the Admirals Wallet?
Your first step in moving towards financial cohesiveness with your Admirals account will require you to first make a deposit into your Admirals Wallet. We make this as convenient and free of fees (depending on your method of depositing – see here for more), giving you more incentive to utilize all of the tools we have available to you.
Make a deposit to the Admirals Wallet using the follow payment methods:
- Bank transfer, Visa/Mastercard, Klarna, PayPal (UK only), Safety Pay and iDeal (more methods will be updated as we add them).
Over time as you are trading with us in the Trader's Room, you may find you want to transfer some profits to the Admirals Wallet in order to withdrawal (keep in mind, you can always transfer the funds to your Admiral Markets Card to use as well). The following withdrawal methods are available to you, with the following conditions:
- Bank transfer (once a month with zero fees)
- PayPal, Skrill and Neteller (twice a month with zero fees)
What Countries and Currencies is the Admirals Wallet Available to?
As we have such a diverse userbase with enthusiastic traders and investors from all over the globe, we know it is very important to accommodate each and every one of you.
Users from all countries and license jurisdictions are able to use the Admirals Wallet as part of their trading experience with us! This fact gives us great pleasure to announce, as we can bring the opportunity and benefit of financial freedom and efficient management to all users.
Given our international reach, we have enabled our users to have a wide range of currencies available to them within the Wallet as well (found inside the Trader's Account backend). Please review below as we display all available currencies available for use in conjunction with your Admirals Wallet. It is a good reminder to mention, you can carry multiple currencies (as many as we have available) within the Wallet at the same time - see below for a currency preview:
How Does the Admirals Wallet Enhance my User Benefits?
The main purpose behind all of the Admirals financial tools is to meet one ultimate goal: financial cohesiveness within one solid solution. The Admirals Wallet is one of three defining cornerstones which makes that happen (along with the Trader's Room and Admiral Markets Card).
Let us give an example of how the Wallet, in conjunction with the Trader's Room and Admiral Markets Card, improves your day-to-day account management and overall trading and investing experience.
Say in any given month, you have generated profit within the Trader's Room in one of your trading accounts. You decide you want to withdrawal part of that profit to your Admirals Wallet, where you then decide to withdrawal to your bank account directly. Your reason for doing so, is you want to treat yourself at a spa for the day (why not?!). The entire process to withdrawal your partial profit to your bank account is quick and seamless; after all, that's the whole idea of keeping these entities connected! Even better, you could withdrawal said profit to your Wallet and then your Admiral Markets Card, and make your purchase directly.
Or, what if you find yourself with more time than usual to spend on trading and investing; you are finding yourself more immersed in the market movements. With your primary banking method connected to your Wallet, you can quickly deposit and transfer to the Trader's Room, so you can act fast when you see an optimal trade opportunity approaching.
These are just a few scenarios; we can only imagine the many more beneficial situations which will arise once you connect fully with our pillar products and services.
Along with our Admirals Wallet (which works in conjunction with the Admiral Markets Card and Trader's Room), we offer many additional benefits to those who hold an active account with us.
Financial cohesiveness is the core strategy in setting you up for long term success in this aspect of your life; it really is that simple. To complement the offerings outlined here, you can also consider copy trading with one of our experienced traders, Asset Management, and comparing our overall offers. If you have yet to register with Admirals, then make use of the NO commission offer upon signup. We are glad to have you on this journey with us.