76% of retail accounts lose money when trading CFDs with this provider. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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.

Admiral Markets Group consists of the following firms:

Admiral Markets Pty Ltd

Regulated by the Australian Securities and Investments Commission (ASIC)
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Admiral Markets Cyprus Ltd

Regulated by the Cyprus Securities and Exchange Commission (CySEC)
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Admiral Markets UK Ltd

Regulated by the Financial Conduct Authority (FCA)
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Note: If you close this window without choosing a firm, you agree to proceed under the FCA (UK) regulation.
Note: If you close this window without choosing a firm, you agree to proceed under the FCA (UK) regulation.
Regulator asic CySEC fca

Retail and Professional Terms

General questions

Leverage available to retail clients is intentionally lower than that available to professional clients. Lower leverage acts as a protection for retail clients by reducing the maximum exposure that a retail client can have to the markets. This in turn reduces the potential loss that a retail client may incur if market movements are unfavourable.

You can only become a professional client as a result of the approval of your request for professional terms.

You can make a request for professional categorisation as you apply for a live account or just by filling the Professional Trader form in Trader's Room. We will approve (or reject) your professional categorisation by email.

If you are an existing client and you did not apply for professional terms or had your application rejected, then you are undoubtedly categorised as a Retail Client.

Following the decision of the European Securities and Markets Authority (ESMA), leverage for retails clients is restricted to between 1:30 and 1:2 as follows:

  • 1:30 for the major currency pairs (EUR/USD, GBP/USD, USD/JPY, USD/CHF and USD/CAD) and their cross rates (CADJPY, EURCAD, EURGBP, EURJPY, GBPCAD, GBPJPY, CADCHF, EURCHF, GBPCHF, CHFJPY).
  • 1:20 for other currency pairs, GOLD, XAUAUD-ECN and major index CFDs ([DAX30], [DJI30], [SP500], [NQ100], [JP225], [ASX200], [STOXX50], [FTSE100], [CAC40]).
  • 1:10 for other index and commodity CFDs
  • 1:5 for CFDs on stocks, ETFs and bonds
  • 1:2 for cryptocurrency CFDs

The above leverage rates are applied to CFD accounts (Trade.MT4, Trade.MT5 and Zero.MT4) of retail clients.

Yes, they do apply as the UK prior to 'Brexit' is still the part of the EU and is subject to Pan-European regulations by the European Securities and Markets Authority (ESMA).

The UK seems to appreciate the regulatory trend established by ESMA and is quite likely to adopt these or similar restrictions on a permanent basis for the UK.

You need to understand what it means to trade with a regulated broker in the first place.

No matter if you are a retail or professional client, regulated financial services firms provide you with the safety of funds, fair execution and best business practices and are financially transparent. Regulated firms are subject to thorough and all-around control by regulators and external auditors so they are obligated to continuously meet all regulatory requirements and technical standards.

Non-regulated firms do not provide any safeguards at all and can be incentivised to execute your orders with hidden costs and cover their operational expenses by spending your money, which is not segregated from their own money.

In no event should you consider entrusting your funds to a non-regulated entity, no matter how appealing is its commercial offering or how good its reputation may appear to you - there's usually not much behind the facade. Also, providing CFDs is a regulated activity and it may be illegal to provide these products without the required authorisations.

We believe that the EEA regulations provide the highest degree of protection for traders and investors. The leverage restriction for retail clients is a measure of protection against the reckless use of high leverage, and it is completely reasonable for a new trader to start on retail terms and eventually evolve into a professional.

Also, it must be noted that this kind of protection is in line with the global regulatory trends and that many of the most solid jurisdictions you could consider as a trader already have similar restrictions, or will have them very soon, e.g.:

  • In the US, the maximum leverage is 1:50 and you can't trade much besides the FX.
  • In Japan, the maximum leverage is 1:25 for a couple of years already.
  • In South Korea, the leverage is even lower - 1:10.

Yes, you can choose retail or professional trading terms when opening a free demo account in Trader's Room. Depending on your selection, your demo account will emulate margin requirements applicable to the respective client category. You can have retail and professional demo accounts at the same time.

Professional Trading Terms - Admiral Markets Pro

Admiral Markets Pro is a service which can be used by traders who have been categorised as Professional Clients on any CFD account, including Trade.MT5, Trade.MT4, Zero.MT5 and Zero.MT4.

You can apply for professional terms at the same time as you apply for a live account, or anytime later, in Trader's Room.

Read more about the benefits of our professional terms and their differences from the standard retail terms on the Admiral Markets Pro page and further in this FAQ.

No, there are no additional costs, fees or charges for using our Admiral Markets Pro service and the application for Admiral Markets Pro is absolutely free.

Existing clients do not need to open new accounts as Admiral Markets Pro can be applied per request to your current CFD account (Trade.MT4, Trade.MT5 or Zero.MT4).

If you already have a CFD account with us, you can apply for Admiral Markets Pro now in Trader's Room, if you think you may be eligible.

If you are a new client, you can apply for professional categorisation at the same time as you apply for a live account in Trader's Room. You will receive two confirmations by email, one for your account application and another one for your professional categorisation. You are free to start trading on retail terms while you are waiting for approval of your application for Admiral Markets Pro.

Yes, you can apply for Admiral Markets Pro in the Professional Terms section of Trader's Room, if you think you could be eligible. Once we approve your professional categorisation, you will be notified by email.

Please note that after the categorisation as a Professional Client, Admiral Markets Pro terms will be applied to all your existing and future CFD accounts (Trade.MT4, Trade.MT5 and Zero.MT4).

Your passwords and other login credentials will remain the same.

No, you only need to request a professional categorisation just once, as a client. When we approve your application, all your CFD accounts (Trade.MT4, Trade.MT5 and Zero.MT4) will be switched to professional terms.

We will contact you by email to notify you when your application to become a professional client has been approved and you have switched to Admiral Markets Pro. Your login credentials for trading platforms will remain the same. Remember, while you are waiting for access to Admiral Markets Pro, you can still trade on your standard retail account.

Yes, the professional margin requirements will be immediately applied to your open positions as per our Margin Requirements page, as soon as we approve your application for Admiral Markets Pro.

If you have selected any specific maximum leverage in your professional application (e.g. 1:200), then your leverage will be capped at this level, and if you did not specify any leverage when applying for the professional terms, your account's leverage cap will be set to a default value of 1:500.

To be eligible for the Admiral Markets Pro service, you need to meet certain criteria. If you answer yes to two out of the three questions below, you could be eligible for Admiral Markets Pro.

  • - Have you made 10 transactions of a significant size per quarter in the last year in relevant markets?
  • - Does your portfolio of financial instruments exceed 500,000 EUR?
  • - Have you worked in the financial sector for at least 1 year in a position which requires knowledge of margin trading?

Please find more information about the acceptable conditions for the above three questions further in this FAQ or on the Admiral Markets Pro page.

If you are not eligible for Admiral Markets Pro, you can still trade thousands of financial instruments in the world's most popular trading platforms, MetaTrader 4 & MetaTrader 5, on the standard retail trading terms. Remember, you can apply for professional terms later, when the eligibility criteria are met.

Acceptable conditions

  • Markets: Forex, CFDs, spread bets or other financial instruments traded on margin (e.g. shares, ETFs, futures and other derivatives) as well as options.
  • Trade frequency: an average frequency of 10 transactions per quarter over the previous 4 quarters (in summary with us and/or other providers).
  • Trade sizes: a notional value of 10,000 EUR per trade for equities and 20,000 EUR per trade for Forex, CFDs and other financial instruments or equivalent in your local currency.

Acceptable conditions

  • Position: a professional position in the financial sector (e.g. banking, financial services or self-employment), which requires knowledge of the transactions and services envisaged.
  • Work duration: at least 1 year.

Acceptable conditions

  • Portfolio structure: shares, shares ISA, ETFs, mutual funds, derivatives (only available cash deposits on your accounts or profits realised from investing in derivatives) and SIPP (excluding non-financial instruments), debt instruments and cash savings; does not include property, direct commodity ownership, company pension, non-tradeable assets, luxury cars and jewelry as well as notional values of leveraged instruments.
  • Portfolio size: over 500,000 EUR or the equivalent in your local currency.

Yes. In order to start the processing of your application for professional trading terms, we need electronic files, scans or good quality photos of documents demonstrating that you meet the eligibility criteria.

For example, the documents you can provide include:

- Trading account statements showing your past transactions with us or other providers over the 4 full quarters preceding to the date of your application.

- Investment account or bank account statements showing your portfolio, or any other reliable proof of its existence, value and structure. Please note that we need to exclude the value of leveraged positions. Any document you provide to us should be no older than 6 months.

- Relevant diplomas, training certificates or written confirmations from your employers or business partners; CV or other public sources allowing to confirm your work experience.

Shortly after we receive your application, our account representative will get in touch with you to explain which additional documents may be considered in your particular circumstances and how to submit them.

Professional clients are not afforded the same level of protection as retail clients. Protections (all of which are available to retail clients) include:

  • Segregated funds: as with a retail account, we will hold and maintain an amount equal to your account in a segregated money bank account.
  • Deposit protection by FSCS: as with a retail account, you are eligible for Financial Services Compensation Scheme providing protectionon up to £85,000 you hold with us.
  • Use of FOS by individuals: as an individual trader ('consumer'), you are able to use the Financial Ombudsman Service if you are dissatisfied with the result of a complaint to us.

In addition, both professional and retail clients get access to our exclusive Volatility Protection Settings service, which helps minimise the risks connected to market volatility.

    Protections only available to retail clients and not available to professional clients include:

  • No leverage restrictions: as a professional client, you won't be protected by a lower cap on the leverage you can use when trading (between 30:1 and 2:1 on retail accounts). Lower leverage acts as a protection for retail clients by reducing the maximum exposure that a retail client can have to the market. This in turn reduces the potential loss that a retail client may incur if market movements are unfavourable.
  • Negative balance protection: retail clients have unlimited negative balance protection. Professional clients only receive a maximum coverage of £50,000 across their netted account deficits as per our Negative Balance Protection Policy.
  • Communications and risk warnings: we will have an option to communicate with you using a professional language; also, we may not issue a risk warning when we get in touch or promote a new product.
  • Use of FOS by firms: as a legal entity, you have no right of using the Financial Ombudsman Service and need to settle your complaints with us, if any; please remember, we are a licensed firm and always aim at resolving all issues in accordance with applicable laws and regulations.

What's particularly similar between our professional and standard retail offerings, is that we owe all our clients a duty of best execution and both retail and professional clients benefit from our Best Execution Policy.

What's specifically different between the two client categories, is that professional clients get early access to our new products and additional services first, before they are made available to other clients.

There are also various protections differently applicable to professional and retail clients as detailed in this FAQ.

Switching to Admiral Markets Prodoes not change the nature of financial products we provide to you so there are no tax implications. For any specific, individual case or personal questions about your tax obligations please contact a tax advisor of your choice.

Yes, you can do it at anytime. You simply need to send us an emailed request. There are no eligibility criteria for switching you back to retail terms, but remember that as soon as we approve your re-categorisation, the margin requirements applied to your open positions will automatically adjust to retail terms - i.e. will be increased from up to x17 to x25 times as compared with professional terms. Also, you can limit your maximum leverage in your account settings in Trader's Room without re-categorisation.

Yes. In order to start the processing of your application for professional trading terms, we need electronic files, scans or good quality photos of documents demonstrating that you meet the eligibility criteria.

For example, the documents you can provide include:

- Trading account statements showing your past transactions with us or other providers over the 4 full quarters preceding to the date of your application.

- Investment account or bank account statements showing your portfolio, or any other reliable proof of its existence, value and structure. Please note that we need to exclude the value of leveraged positions. Any document you provide to us should be no older than 6 months.

- Relevant diplomas, training certificates or written confirmations from your employers or business partners; CV or other public sources allowing to confirm your work experience.

Shortly after we receive your application, our account representative will get in touch with you to explain which additional documents may be considered in your particular circumstances and how to submit them.

Retail Trading Terms

Currently, we only categorise clients as professionals with respect to our CFD offering, which covers Trade.MT4, Trade.MT5 and Zero.MT4 accounts.

With respect to all your accounts of the above types, you can be a retail client or a professional client, but not both at the same time.

We currently do not categorise clients as professionals with respect to exchange-traded products available on the Invest.MT5 account, so you are always categorised as a Retail Client with respect to stocks and ETFs on your Invest.MT5 account even if you have access to Admiral Markets Pro terms for CFD products.

By default you will apply for retail terms when you apply for a live account. The criteria you need to meet are a clear understanding of the basics of margin trading and of its related risks. There is an appropriateness test within the account application process which measures your understanding of these matters.

You become a retail client as a result of the approval of your live account application.

If you are an existing client and you did not apply for professional terms or had your application rejected, then you are undoubtedly categorised as a Retail Client.

As you are applying for a live account in Trader's Room, you will be required to pass a fairly simple appropriateness test which consists of several questions helping us to determine whether you are familiar with margin trading basics and related risks, or not. If you do not pass this test, we will consider that our products are not appropriate for you but will anyway have an option to open an account.

  • Segregated funds: we will hold and maintain an amount equal to the value of your account in a segregated money bank account.
  • Deposit protection by FSCS: you are eligible for theFinancial Services Compensation Scheme offering protection on up to £85,000 you hold with us.
  • Use of FOS: you are able to use theFinancial Ombudsman Serviceif you are dissatisfied with the result of a complaint to us.
  • Best Execution: we owe all of our clients a duty of best execution in line with our Best Execution Policy.
  • Leverage restrictions: you will be protected by a cap on the leverage you can use when trading (between 30:1 and 2:1 on retail accounts). Lower leverage acts as a protection for retail clients by reducing the maximum exposure that a retail client can have to the market. This in turn reduces the potential loss that a retail client may incur if market movements are unfavourable.
  • Negative balance protection: retail clients have unlimited negative balance protection as per ourNegative Balance Protection Policy.
  • Volatility Protection Settings: You get access to our exclusive Volatility Protection Settings service, which helps minimise the risks connected to market volatility.

Yes, you can do so by requesting a professional categorisation in the Professional Trader section in Trader's Room. Prior to doing that, please check your eligibility on the Admiral Markets Pro page. Remember, it is in your interest to provide true information about your eligibility and that a higher leverage means higher rewards and risks.