With 50 forex pairs, Admiral’s range of FX products is superior to FXCM. FXCM however, has a wider choice of trading platforms. This Admirals vs FXCM review also looks at differences in trading accounts and commission costs.
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Our comprehensive comparison covers the 10 most crucial trading factors to help you make an informed decision.
Admiral Markets offers commission-free trading with their Trade.MT4 and .MT5 accounts with spreads starting from 0.5 pips. The other account known as ZERO MT5 and .MT4 have spreads from 0 pips and variable commissions meaning the more you trade, the lower your commissions will be. Additionally, there are no deposit or withdrawal fees, and clients can choose from a variety of funding options.
FXCM also offers competitive spreads for the two accounts they offer. The standard account has spread from 0.7 pips while the Active trader account has spreads from 0.2 pip but uses tiered commissions for traders in the UK, EU and South Africa while other countries don’t get commission but instead receive reduced pips in the form of a rebate. Additionally, there are deposit and withdrawal fees, which can be a drawback for some traders.
In terms of fees and spreads, Admiral Markets has a slight edge over FXCM, with no commission and lower average spreads.
Standard Account Spreads
Looking at the data, it’s clear that there are some differences in the standard account spreads between FXCM, Admiral Markets, and the industry average.
FXCM tends to have higher spreads across the board, with the lowest being 1.2 for AUD/USD and the highest being 1.7 for GBP/USD. This might make FXCM less attractive for traders who are looking to minimise their trading costs, especially if they’re trading these particular forex pairs frequently.
On the other hand, Admiral Markets consistently offers lower spreads, with the highest being 0.8 for GBP/USD and the lowest being 0.6 for EUR/USD, AUD/USD, and NZD/USD. This could make Admiral Markets a more cost-effective choice for traders, particularly those who trade these forex pairs.
| Forex Pair | FXCM | Admiral Markets | Industry Average |
|---|---|---|---|
| EUR/USD | 1.3 | 0.6 | 0.9 |
| USD/JPY | 1.3 | 0.7 | 1.0 |
| GBP/USD | 1.7 | 0.8 | 1.2 |
| AUD/USD | 1.2 | 0.6 | 0.8 |
| USD/CAD | 1.5 | 0.7 | 1.0 |
| USD/CHF | 1.5 | 0.7 | 1.0 |
| NZD/USD | 1.3 | 0.6 | 0.9 |
Standard Account Analysis Updated April 2024[1]April 2024 Published And Tested Data
When we compare these brokers to the industry average, we see that Admiral Markets is consistently below the average, while FXCM is consistently above. This suggests that, on average, traders might find better value with Admiral Markets.
However, it’s important to remember that spreads are just one part of the overall cost of trading. Other factors, such as commission fees and account types, can also impact the overall cost. Therefore, while Admiral Markets appears to be the cheaper option based on spreads alone, I would recommend traders to consider all costs before making a decision.
Verdict
After thoroughly examining the spreads and fees, it’s clear that Admirals offers a more cost-effective trading environment. With lower spreads and no additional fees for deposits and withdrawals, Admirals takes the cake in this category.
The trading platform is your gateway to the markets, so it’s crucial to choose a broker that offers a platform that suits your trading style. Now, both FXCM and Admirals offer MetaTrader 4, but the experience isn’t the same across the board.
Verdict
When it comes to the trading platform, Admirals stands out for its user-friendly interface and additional tools that make trading not just easier but also more effective. While FXCM offers a robust platform, it can be a bit overwhelming for those who are new to trading.
When you’re trading, the type of account you have can make a world of difference. It’s not just about the platform; it’s also about the features and benefits that come with your account. Admirals offers multiple account types, including standard and premium accounts, each with its own set of features tailored to different trading styles.
Verdict
After a thorough review, it’s clear that Admirals offers superior accounts and features. With a range of account types and premium features like free market analysis and trading signals, Admirals provides a more versatile trading environment. FXCM, while strong in research, doesn’t offer the same level of premium features.
When it comes to the trading experience, both FXCM and Admirals have their strong suits. FXCM offers a robust platform with a variety of tools that can be a bit complex but are incredibly useful for seasoned traders. Admirals, on the other hand, offers a more streamlined and user-friendly interface, making it easier for beginners to get started.
Verdict
After extensive testing, it’s clear that Admirals offers a smoother and more user-friendly trading experience, particularly for those who are new to forex trading. FXCM, while feature-rich, can be a bit overwhelming for beginners.
FXCM Trust Score
Admiral Trust Score
Trust and regulation are paramount in the world of forex trading. You want to know that your money is safe and that the broker operates under strict regulatory guidelines. Both FXCM and Admirals are regulated, but there are some key differences worth noting.
| Criteria | FXCM | Admirals |
|---|---|---|
| Regulatory Bodies | FCA, ASIC | FCA, CySEC |
| Years in Operation | 20+ | 10+ |
| Segregated Accounts | Yes | Yes |
| Negative Balance Protection | Yes | Yes |
| Investor Compensation Scheme | Yes | Yes |
| FXCM | Admirals | |
|---|---|---|
| Tier 1 Regulation | ASIC (Australia) FCA (UK) CYSEC (Cyprus) CIRO (CANADA) BaFin (Germany) |
ASIC (Australia) FCA (UK) CYSEC (Cyprus) CIRO (CANADA) |
| Tier 2 Regulation | FSCA (South Africa) ISA (Israel) |
ASIC (Australia) FCA (UK) CYSEC (Cyprus) CIRO (CANADA) |
| Tier 3 Regulation | FSA-S (Seychelles) CMA (Kenya) JSC FSCA (South Africa) |
Verdict
When it comes to trust and regulation, FXCM takes the lead. With dual regulation from both the FCA and ASIC, and over 20 years in the business, FXCM offers a more secure and trustworthy trading environment compared to Admirals.
Both brokers offer a wide array of CFD markets, but Admirals takes the lead in terms of diversity and range.
| Product Type | FXCM | Admirals |
|---|---|---|
| Forex Pairs | 40 | 50 |
| Indices | 10 | 15 |
| Commodities | 5 | 10 |
| Stocks | 50 | 100 |
| Cryptos | 3 | 5 |
| Bonds | 0 | 2 |
| ETFs | 0 | 5 |
| Metals | 2 | 4 |
| Energies | 1 | 3 |
| Options | 0 | 1 |
Verdict
Admirals clearly offers a more diverse and comprehensive range of CFDs and markets, making it the go-to choice for traders looking for variety.
Both FXCM and Admirals offer a range of educational resources, but the depth and breadth differ significantly.
Verdict
Based on our team’s scoring, Admirals offers a more comprehensive educational package, making it the better choice for traders looking to expand their knowledge base.
Customer service is a critical aspect of forex trading. FXCM offers 24/5 customer service in multiple languages, while Admirals provides 24/7 support but in fewer languages.
| Feature | FXCM | Admirals |
|---|---|---|
| 24/7 Support | No | Yes |
| Live Chat | Yes | Yes |
| Email Support | Yes | Yes |
| Phone Support | Yes | Yes |
| Language Support | Multi | Limited |
Verdict
Our testing shows that FXCM offers a more comprehensive customer service experience, especially for traders who may need support in multiple languages.
Funding your account is a straightforward process with both brokers, but Admirals offers more options.
| Funding Option | FXCM | Admirals |
|---|---|---|
| Credit Card | ✅ | ✅ |
| Bank Transfer | ✅ | ✅ |
| PayPal | ❌ | ✅ |
| Skrill | ❌ | ✅ |
| Neteller | ❌ | ✅ |
| Crypto | ❌ | ❌ |
| Other | ❌ | ✅ |
Verdict
Admirals provides a wider range of funding options, making it more convenient for traders with diverse financial needs.
FXCM has a lower minimum deposit of $50 vs Admiral Markets’ minimum of $100. Both brokers provide numerous payment methods for brokers to deposit their initial funds, including credit/debit cards, bank wire, Skrill, and Neteller.
FXCM
| GBP | USD | EUR | AUD | |
|---|---|---|---|---|
| Credit Card / Debit Card | £50 Minimum Deposit | $50 Minimum Deposit | €50 Minimum Deposit | $50 |
| Bank Wire | £50 Minimum Deposit | $50 Minimum Deposit | €50 Minimum Deposit | $50 |
| Skrill | £50 Minimum Deposit | $50 Minimum Deposit | €50 Minimum Deposit | $50 |
| Neteller | £50 Minimum Deposit | $50 Minimum Deposit | €50 Minimum Deposit | $50 |
Admiral Markets
| GBP | USD | EUR | AUD | |
|---|---|---|---|---|
| Credit Card / Debit Card | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
| Bank Wire | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
| Skrill | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
| Neteller | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
Verdict
FXCM wins this round with its $50 minimum deposit. Having said that, we feel that the $50 difference between the two brokers’ requirements shouldn’t be a huge factor in choosing which broker to trade with.
Admiral Markets is the winner because it offers a more comprehensive range of services, from lower spreads and fees to a wider range of CFD markets. Below is a table that summarises the key information leading to this verdict.
| Criteria | FXCM | Admirals |
|---|---|---|
| Lowest Spreads And Fees | ❌ | ✅ |
| Better Trading Platform | ❌ | ✅ |
| Superior Accounts And Features | ❌ | ✅ |
| Best Trading Experience And Ease | ❌ | ✅ |
| Stronger Trust And Regulation | ✅ | ❌ |
| Top Product Range And CFD Markets | ❌ | ✅ |
| Superior Educational Resources | ❌ | ✅ |
| Superior Customer Service | ✅ | ❌ |
| Better Funding Options | ❌ | ✅ |
| Lower Minimum Deposit | ✅ | ❌ |
For beginner traders, Admirals is the better choice due to its user-friendly interface and educational resources.
For experienced traders, FXCM offers a more robust platform with advanced features.
Admirals has lower costs. They offer lower average spreads starting from 0.5 pips. FXCM’s spreads start at 0.7 pips. For more information on low-cost brokers, you can visit our lowest spread brokers in the UK.
FXCM is better for MetaTrader 4. They offer a more feature-rich experience for advanced traders. For more details, check out our best MT4 brokers in the UK.
Neither FXCM nor Admirals offer social trading. However, there are other brokers that do. For more information, you can visit best copy trading platforms.
FXCM offers spread betting, while Admirals does not. For more on this, you can check out best spread betting brokers in the UK.
In my opinion, Admirals is superior for Australian Forex traders. They are ASIC regulated and offer a wide range of CFD markets. For more details, visit best Australian Forex brokers.
For UK traders, FXCM is the better choice in my view. They are FCA regulated and offer a robust trading platform. For more information, you can visit best trading platforms in the UK.
No commission account spread propiety testing data and published wesbite spread information, centralised on our standard account spread page..
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