Admiral Markets Review
Admiral Markets is a broker which offers contracts for difference (CFD) product trading on stocks, indices, commodities, forex, bonds, and cryptocurrencies. Admiral Markets is regulated by the FCA. CFDs enable traders to speculate on an asset without actually owning the underlying asset. CFDs allow traders to apply large amounts of leverage and also to take short positions. This is a benefit as most cryptocurrency trading services do not enable traders to take short positions.
There are eight cryptocurrency products offered which are priced against their USD valuation. The products include Bitcoin, Ethereum, Bitcoin Cash, Dash, Ripple, Monero, ZCash, and Litecoin. Competitors have a wider offering with many having over 20 products. The spread of the products is quite small, around 1%, showing the market has good liquidity. Traders can apply leverage of up to 1:2. Professional traders can trade with up to 1:5 leverage. Some competitors allow traders to leverage 1:30. The fees vary per the currency the account is using. For a Euro account, the will be €3 per lot for a single trade. A round trade will be charged double. Lots vary per product.