AdmiralMarketsCFD – The Red Flags to Watch out For

AdmiralMarketsCFD

You cannot possibly navigate the financial markets, whether it is forex, stocks, or even crypto, without a dependable and professional brokerage to assist you. Every professional or expert trader will tell you that the broker you use will make a massive difference in your experience and the outcome. Therefore, you should not make this decision lightly, especially when you have a horde of companies to choose from. Feeling overwhelmed is natural and this is where you can benefit from this AdmiralMarketsCFD review.

This is because the review highlights some of the red flags that you need to look out for in an online broker before you sign up with any one of them. As the number of scam platforms in the market has surged significantly, you cannot afford to be taking this in stride and making a decision without doing thorough research. It is never a smart move to just give the website of a broker a glance and then make up your mind about it. What will a glance reveal? You will not be able to identify any shortcomings the company may have.

Plus, this will only show you what the brokerage wants you to see. In the case of fraudulent companies, they are going to present a very attractive website that has all the right features that make them appear as the perfect choice. If you make a decision based on this appearance, you are doomed because it means they would have succeeded in conning you out of your money. Do you really want to become another statistic? It is not something you want, so it is best to give it a more thorough look and ensure there are no red flags.

The same is the case with AdmiralMarketsCFD that has been smart enough to choose a name similar to one of the top brokers in the market. Why has it done so? It will become clear as you read on.

False licensing claims

When you go through AdmiralMarketsCFD to find out if it has any red flags, you will find that there is no shortage of them. The first one starts with their licensing claim, which dictates that they are owned and operated by a company called AN ALL NEW INVESTMENTS (VA) LIMITED. This is an investment firm that is under the regulation of the Vanuatu Financial Services Commission (VFSC). The good news is that the register of the VFSC is easily accessible, which means you can verify the claim.

But, when you do run a search for the company name mentioned in the register of the VFSC, you will not find it at all. You can also run AdmiralMarketsCFD, but the broker is also not listed. Even if it was listed, you should note that the regulation of the VFSC does not add a lot of credibility because it is not as stringent as some of the top regulatory bodies in the world. This means that trading with AdmiralMarketsCFD would still be quite doubtful.

A clone firm

One of the biggest red flags that you cannot and should not ignore about AdmiralMarketsCFD is related to its name. If you do your research and look for the top brokers in the market, you will come across the name of renowned CFD provider Admiral Markets that has an excellent reputation. It is recognized, licensed and professional, something that AdmiralMarketsCFD is banking on.

They have deliberately used the name of Admiral Markets in their own name, which is a common tactic called cloning. This is when fraudulent companies ride the coattails of legitimate companies by using their name and other details to hide their real identity. This is what AdmiralMarketsCFD is doing because it is hoping to trick people into signing up with it, believing they are signing up with Admiral Markets itself, or one of its subsidiaries.

No professional trading platform

Things continue to get worse when you keep looking into AdmiralMarketsCFD because it does not have anything of value to offer to its clients. The trading platform is considered the most vital offering of any online broker and if they have not made an effort to provide you with the best, then they are not really worth choosing.

The same is the case with AdmiralMarketsCFD because you will find an oversimplified and rudimentary web trading platform available that does not come close to the advanced tools and technology packed in the MT4 and the MT5 platforms. These are the usual choice of most professional traders and the best brokers in the market will always have them available.

Terrible trading conditions

There are more red flags to be found in AdmiralMarketsCFD when you check out their trading conditions because the company is not even remotely competitive. The spreads directly affect your costs, so they are worth checking out and you will be shocked to find that they start as high as 3 pips, which is three times more than what an average broker will offer.

Furthermore, you will also find that the leverage ratios that AdmiralMarketsCFD is offering go as high as 1:200. Even though this seems attractive, you should remember that leverage can be quite dangerous because it does not just magnify your profits; it can do the same to your losses as well. Hence, you should not consider this a good thing because most licensed brokerages would not offer such risky ratios.

No refunds possible

If there is one red flag that should convince you to abandon AdmiralMarketsCFD altogether is that it does not have any payment options other than crypto assets and wire transfers. The problem with these two payment options is that they do not give you the option of getting a refund after you have made a deposit. There are no chargebacks like in the case of debit and credit cards, which is exactly what fraudsters are after because they do not have any intention of returning your money.

Final Verdict

These red flags make it apparent that AdmiralMarketsCFD is not a good or reliable broker for that matter and you should look for a different option.