Admiral Trades Review – Key Irregularities Revealed

There’s something awfully suspicious about Admiral Trades. In the Admiral Trades Review, we will address the troublesome aspects of this phony’s services and background.

Here’s our postulation – the broker will contact you and promise immeasurable wealth. However, once you buy into it, the fraudster will take your wallet and tap the admiral. We’ve made it our mission to prove this and protect you from this vile scheme.

Additionally, we strongly advise you to avoid the fraudulent brokers Vestapros, Sato4x, and Finero.

Regulatory Warnings Against Admiral Trades Scam

Since the AdmiralTrades presents itself as UK-based it’s quite easy to determine if they are legit or not. Firstly, we are always checking FCA databases. Thus, this company was not found there. So, what’s the main problem with it? The main issue is that traders can’t have any funds protection features. Consequently, the company can freely move traders’ funds without traders noticing. Very often, through crypto.

 In the end, when traders request a withdrawal, the money doesn’t exist. It has all been fictive. That’s exactly why currently you can see three warnings against this firm. All of those come from highly reputable regulators from different parts of the world. Starting with the Australian ASIC, Italian CONSOB and Russian Central Bank (CBR).

After these warnings, it’s very likely the AdmiralTrades scam broker will disappear. It’s just a matter of time. But if that happens, your funds will be stuck there. That’s why we suggest you apply for a chargeback immediately. If you need advice on the steps, feel free to contact us.

Why Is Trading With a Licensed Broker Preferable?

Obviously, Admiral Trades is a pure hoax. There’s no way you’d get the benefits of trading with a regulated broker if you trust Admiral with your funds. 

Wouldn’t you rather have negative balance protection in case something goes wrong? Or sleep soundly knowing the broker indemnifies you with up to GBP 85,000 should the company file for bankruptcy. Furthermore, there’re no headaches when your funds are stored in a segregated account, secured in a Tier 1 bank.

AdmiralTrades Reviews – What Victims Have to Say?

Even though there are not many reviews, the ones available on Trustpilot, reveal the bitter truth. In combination with the warnings mentioned, there’s no doubt that negative reviews are reliable ones. But in general, if you see a brokerage claiming to be worldwide trusted with very few user-experience reviews, hold on.

On the other hand, if you have any experience with scam brokers, you should always share it. That’s the fastest way to shut down shady brokerages. Still, there’s a high chance they will come back again with a different name. Therefore, equip yourself with knowledge and patience to avoid swindlers. Still, if you don’t know what should be your next step, feel free to contact our chargeback specialists.

Details About The Admiral Trades Trading Platform

Admiral Trades claims to offer an “award-winning platform,” and goes on to promote it as if it’s a space shuttle. Pardon us for asking, Admiral Trade, but what exactly is “world-class” about WebTrader?

Spoiler! Nothing really. All you’ll get is a primitive and cheap-looking excuse for a platform that lacks advanced tools and features, contrary to what the fraudster says. Forget about automated trading, live-market reports, API integration, market depth, netting, etc. You’re stuck with basic charts and indicators.

Moreover, without a license, we guarantee that this platform is rigged all the way. Yup, once you become disillusioned and realize you weren’t actually trading, it’s already too late. The scammer embezzled your money.

What Сan Be Traded?

 As for the trading assets, Admiral Trades allegedly offers the following:

• Forex pairs – EUR/USD, USD/GBP, EUR/AUD…
• Crypto – Bitcoin, Tether, Ethereum, Dash & Litecoin;
• Indices – not disclosed;
• Stocks – Bayer, Ford, McDonald’s, Starbucks…
• Commodities – not disclosed.

Don’t you just love when the scam broker is all ambiguous and vague in terms of instruments? Seriously, why weren’t the indices and commodities revealed? On the trading platform preview, we only got Bitcoin/USD.

Awards – Company Achievements

Sorry, Admiral Traders, but we won’t let you steal someone else’s thunder. Boasting about winning awards that you haven’t actually won is not cool. Let’s debunk these lies with a few simple clicks, shall we?

Since the fraudster wasn’t specific about the competition, we found a poll online but there’s no trace of Admiral Trades: 

Admiral Trades – Countries Of Service

Here’s where we’ll advise caution. After some research, we managed to pick out several countries where Admiral Trades picks victims from. If you happen to reside in one of them, beware! You’re dealing with an unscrupulous provider that only wants to defraud you.

• Germany;
• France;
• Italy;
• UK;
• US.

Furthermore, we highly recommend that you avoid the scam brokers ETF Corp, SevenSeasFX, and XTB Global.

Admiral Trades Account Types

From what we’ve seen on the website, Admiral Trades offers four different account types:

• Standard – $250, spread from 1.5 pips, leverage up to 1:500, bonus up to 30%;
• Silver – $2,500, 1.5 pips, 1:400, 30% bonus;
• Gold – $10,000, 0.8 pips, 1:500, 100% bonus;
• VIP – $50,000, 0.0 pips, 1:500, 100% bonus.

These minimum deposit amounts are really through the roof. Even $250 is too much for a broker without a license as fraudulent as Admiral Trades. And of course, we have the controversial bonuses, but more on that later.

Can a Trader Use a Demo Account?

Allegedly, it’s possible. Admiral Trades clearly said so. However, we highly doubt it. Our assumption is that the demo account was advertised on the website to create a better image of the broker. You should take it with a pinch of salt.

About Leverage, Spreads, and Fees

As you saw from the account specifications, the leverage reaches an astronomical level of 1:500. Trading at such high a level is a double-edged sword – you can profit but you can also lose big. Most often, the latter occurs. Hence, regulators have capped the leverage for retail clients at 1:30 (UK, EU) and 1:50 (US, Canada).

As for the spreads, we yet again doubted what Admiral offered and got it right. The unscrupulous broker says that spreads start out at 1.5 pips for the standard account but in reality, we got 2.0 pips for EUR/USD. That’s nowhere near profitable. Last but not least, commissions have not been disclosed.

Admiral Trades Provides Bonuses?

We owe you an explanation about bonuses. First of all, these misleading instruments of chaos have been banned by financial market regulators, mainly because scammers often use them to implement their schemes. 

Once you get a bonus, you’re required to trade up to an extreme amount before you can withdraw money. In most cases, that’s impossible and you’re denied your request. Therefore, run away if you see bonuses.

High Minimum Deposit and Withdrawal Terms

As mentioned, the minimum deposit is $250. We consider this to be a really large amount given all the shadiness surrounding Admiral Trades. In the FAQ section, we read that the fraudster accepts credit/debit cards, wire transfers, and “popular e-wallets.” Hmm, was it too hard to simply list them, Admiral Trades?

Nevertheless, the minimum withdrawal amount is $25 for cards and $100 for wires. However, we highly doubt clients will be allowed to withdraw anything.

Scammed by Admiral Trades Broker? – Let Us Hear Your Story

We feel for you, buddy. Don’t despair, it could’ve happened to anyone. We can try to make things better by reporting the awful scammer but also by telling you about how you could get a refund. Yes, you’ve read that right, it’s possible, albeit difficult. Regardless, we recommend you give it a shot.

A Chargeback and a Recall?

• A chargeback is used for credit/debit cards. It can reverse the transaction.
• Requesting a chargeback is done at the issuing bank within 540 days.
• For wire transfers, the same process is known as a recall.
• A recall will fail for complete transactions.