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AdmiralCrypto Broker Review

  1. Established in 2016, AdmiralCrypto is cryptocurrency broker operating as an entity of Admiral Markets UK Ltd 74594. AdmiralCrypto provides a crypto trading platform for CFD trading across multiple digital currencies. Without owning the physical assets, customers trade in the price movements in cryptocurrencies and profit from the price volatility. We saw that the principal activity of AdmiralCrypto is the sale of cryptocurrencies, including Bitcoin, Ethereum and Litecoin, purchased by the brokerage on dedicated exchange platforms and mined by AdmiralCrypto, for re-sale to individuals or professionals. Crypto trading is regarded as a potentially rewarding way of investing and does not come under the regulatory controls of official government authorities. Subsequently, the number of brokers offering online trading in crypto CFDs has increased substantially. To find out whether AdmiralCrypto could be worth trading with, read our in-depth review below.

    AdmiralCrypto is headquartered at One Love Lane, London EC2V 7JN. However, the website of the company is in French with an English language translation available. Customers resident in South Africa can trade in cryptocurrencies and buy the digital assets for their personal use.

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    AdmiralCrypto Special Features

    In our experience, traders like to choose between clearly defined trading accounts with the advantages of each account presented transparently by the broker in advance. We could not find any trading account descriptions at AdmiralCrypto as it would seem, that customers are required to set up an account and accept whatever the brokerage offers as part of the trading package. What’s more, we saw no mention of a demo account for practice trading at AdmiralCrypto. Risk-free trading is a benefit frequently offered by Forex and Crypto brokers as it can boost profits substantially when it comes to real money trading. Customers at AdmiralCrypto trade from one account type, irrespective of trading experience and previous knowledge of digital currencies. The minimum initial deposit is $250 with no mention of leverage or spreads.

    Registering an Account with AdmiralCrypto

    To prepare our readers for what to expect should they decide to register a trading account with AdmiralCrypto, we proceeded to account registration on the website. After clicking on the ‘Register’ tab we were taken to a French language registration form. We found this strange as the company is located in the business district in the City of London, and in our view should have made the effort to provide an English language registration form.  Using our collective team experience of French, we completed the form and were taken to the online trading platform. We questioned whether traders living in South Africa and countries far from Europe, would have the language skills required to fill in a French language form or simply seek another crypto trading broker immediately. Moreover, the terms and conditions of AdmiralCrypto are in confusing mix of French and English, projecting an unprofessional image to potential customers. For followers of the Moslem faith, AdmiralCrypto does not appear to offer an Islamic account. Nevertheless, anybody interested in registering an account with the brokerage, could ask customer support if the creation of a swap-free account is possible.

    AdmiralCrypto Bonus and Demo

    We were surprised to see that customers at AdmiralCrypto are not given any risk-free Demo account opportunities to practice cryptocurrency trading with virtual funds before ‘taking the plunge’. Subsequently, anybody wanting to trade in digital currencies must risk losing money during the learning stage of crypto trading, which can be an unpleasant experience. We recommend that potential customers do some background learning in advance, discovering what crypto currencies are all about and the risks created by the inherent volatility of global cryptocurrency markets.

    We couldn’t find any mention of promotional bonuses or any type of customer incentive at AdmiralCrypto. We even searched the company’s terms and conditions for any mention of bonus offers, as the French word is the same, so it wasn’t hard to look for it.

    Tip: Consider IQ Option instead – the best regulated broker for South African traders with a minimum deposit of only $10!

    AdmiralCrypto Trading Software

    AdmiralCrypto provides a browser-based proprietary crypto trading platform for its registered customers, with full functionality and rapid trade execution. However, there are no user instructions in English, which we found to be short-sighted, as a large number of customers may abandon their trading efforts, feeling very disappointed. We can only suggest that AdmiralCrypto changes its language policy quickly or it will have to be satisfied with fewer customers. On a positive note, the trading platform features accurate and real time updated charts with all data required to trade on a single screen. Customers can view all their orders on charts as well as data from other markets.

    The AdmiralCrypto trading platform is a multi-asset platform offering crypto trading contracts for difference, enabling traders to potentially profit by predicting changes in the market movements of the various digital coins. Whilst the Admiral Crypto trading platform has an impressive selection of crypto assets including Ethereum, Dash, Bitcoin, neo, XRP, LiteCoin, OMG, and Salt amongst others, they are paired with the EUR currency.

    This limits the possibility of diversifying the trading portfolio as the number of CFDs available are fewer than we expected. We would have liked to see the cryptocurrencies paired with each other and with the USD, giving traders a greater number of trading opportunities and potential for profit. Moreover, the brokerage says that traders can deposit in crypto currency to their live trading accounts. However, it does not explain how customers go about depositing to AdmiralCrypto accounts with crypto coins from their own digital wallets.

    Mobile Trading with AdmiralCrypto

    At the time of writing this review we didn’t see any mention of a mobile trading app from AdmiralCrypto. Traders can access the trading platform directly through the browser of their mobile phones and tablets. It may be that the platform design is responsive to the smaller screen size, adjusting automatically. In our experience, traders like to be informed about the presentation of the platform on a small screen and what features can be enjoyed with mobile trading. Of great concern to us is that no mention is made of the level of security on the mobile trading platform. Without knowing whether the brokerage implements advanced encryption protocols, we would avoid mobile trading for our own security. We advise customers in South Africa and elsewhere to bear this in mind.

    AdmiralCrypto Support Information

    The customer support at AdmiralCrypto is limited to just a mobile phone number without a country pre-fix, so we assume it’s in the UK, an email address and a contact form on the contact page. We also saw that the office address and its location on a map of London is indicated, so if a client wants to drop in, perhaps they would be welcomed. There is no mention of the times when clients can call for support, so we can only suppose that it’s during the ‘usual’ business hours. This makes it difficult for customers living in South Africa and Asia in particular. We did see that customers with a trading account with AdmiralCrypto receive ‘personalised support’ through a personalised follow up on how to implement a strategy according to personal investment objectives.

    We had hoped that a brokerage dealing with innovative cryptocurrency trading would offer some additional channels of support. In our experience, clients expect to have instant support over a live chat help line on the interface. The more innovative brokers offer WhatsApp. Telegram, Messenger and Skype as contact methods, reassuring customers of constant support.

    Disappointingly, AdmiralCrypto doesn’t provide educational resources to support its customers. A short article on the website gives an overview of cryptocurrencies that is inadequate in our opinion. Notably, it doesn’t prepare clients for the volatile global crypto markets and the inherent risks of trading in cryptocurrencies. We recommend that potential cryptocurrency traders do some research before they begin. We provide a broad range of informative material about cryptocurrency assets and trading.

    AdmiralCrypto Payment Methods

    Customers wishing to open a trading account with AdmiralCrypto can deposit using credit/debit cards, bank wire transfer and using crypto wallets. Whilst there is mention of PayPal as a possible payment method on the home page, it does not appear on the list of accepted payment methods during account registration. Moreover, when we clicked on the crypto wallet deposit options, none were offered, which made us wonder whether it is a real payment option for traders. The website says that all crypto currency deposits are converted immediately into EUR or USD for trading on the platform and that there is zero% commission on crypto CFD trading. AdmiralCrypto mentions that with one click in the trading account, clients can withdraw funds to their bank accounts directly. We find this quite difficult to believe as account verification with an ID document, and proof of address is required when setting up a trading account with AdmiralCrypto.

    We were pleased to see that AdmiralCrypto does not keep all Bitcoin reserves on its servers but stores private keys in bank vaults in several cities with secret sharing of information. Moreover, Bitcoin stored in the servers is protected with an insurance policy taken out by AdmiralCrypto. Nevertheless, information about deposits and withdrawals at AdmiralCrypto is very limited. The terms and conditions don’t provide much enlightenment either. Importantly, any disputes arising with the brokerage are governed by the French language terms and conditions.

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