One of the most interesting choices among Australia-based brokers, Admiral Markets works in about 40 countries, allowing traders from all over the world to sign up and enjoy its favorable conditions for trading. The broker offers various options when it comes to available accounts, and you should know about them to make the right choice. In this article, we explain the difference between these options and help you understand the main requirements for opening your own account.
About Admiral Markets
Once available only to Australian citizens, Admiral Markets is an international broker now. It’s heavily regulated by several financial institutions including FCA and ASIC, so you don’t have to worry about the security of your funds. The broker is known for its favorable and pretty flexible trading conditions: the minimum deposit is just $1, and the leverage goes all the way up to 1:500, allowing you to trade without actually investing too much.
Admiral Markets features a decent variety of available assets including currency pairs, stocks, futures, and a small array of major cryptocurrencies. The broker is pretty serious about ID verification: you will have to provide several documents like a proof of residence to start trading. The actual list of required papers depends on which of the Admiral Markets account options you choose.
Available account types
The broker offers you three different account types, and each of them suits a certain trading style. Pro Market Access is a basic account meant for novice traders and investors who don’t make many trades during the day. On the contrary, Admiral Select is perfect for active traders and scalpers. Finally, Elite accounts are mostly suitable for experienced traders. Whichever type you choose, you can also select a standard or a margin account.
How to open an account
First, you need to decide which type of account you need. Then, go to the official website and click the Open an Account button. You’ll be redirected to a page where you can choose the right account. Now, you can start creating your account on Admiral Markets. Enter your personal information such as your name, address, and email. You have to enter valid information since you’ll have to verify it later. You’ll also have to come up with a login and a password for your new account.
Then, provide all the required documents to finish the registration process, and that’s pretty much it.
