Admiral Markets, which now trades as Admirals, is a multi-asset broker founded in 2003 and regulated by the FCA and CySEC; it surrendered its Estonian licence in 2026 and is selling its Australian unit as part of a major restructuring. Its deposit and no-deposit promotions run only through the offshore Seychelles entity, because the UK and EU regulators ban trading incentives. Both offers arrive as non-withdrawable credit that converts to cash only after a very large trading-volume target, so the headline figure is a cap rather than money you keep.
Risk warning: Trading carries a high risk of losing money, especially with leveraged products such as CFDs. A bonus does not reduce that risk. Only deposit what you can afford to lose.
Admiral Markets
Admirals matches your deposit 100% up to $5,000 in non-withdrawable trading credit that only converts to cash through very high trading volume.
Admiral Markets
Admiral Markets gives eligible non-EU and non-UK clients a $100 trading credit with no deposit required, but you have to trade enough over two 30-day stages (including a $25 deposit) before any profit can be withdrawn.
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Admirals traces its roots to Tallinn, Estonia, where the business was registered as Admiral Markets in 2003 and built its early reputation as a forex and CFD broker on the MetaTrader platforms. The company rebranded from Admiral Markets to Admirals in 2021 to reflect a broader push into investing products. The holding company has had subordinated bonds listed on Nasdaq Tallinn since 2021, though in 2026 it began repurchasing those bonds and said it is weighing delisting them.
In 2025 and 2026 Admirals went through a significant restructuring. Estonia's regulator revoked the operating license of Admiral Markets AS effective April 2026, at the company's own request, as part of a plan to consolidate EU business under its Cyprus entity. The group also stopped onboarding new clients under its Jordan and Kenya licenses in late 2025, cancelled its UAE license, and agreed to sell its Australian, ASIC-licensed subsidiary. Admirals Group reported a net loss of 16.2 million EUR for 2025. The practical effect is that current onboarding is concentrated in the UK, Cyprus and Seychelles entities.
Admirals operates through separate legal entities per region. Admiral Markets UK Ltd is authorized by the FCA (595450). Admirals Europe Ltd is authorized by CySEC (201/13) and, since the 2026 restructuring, also services EU clients previously handled by the Estonian entity. Admirals SC Ltd is licensed by the Seychelles FSA as a securities dealer (SD073), and it is the entity that runs the deposit and no-deposit bonus promotions, since EU and UK rules bar retail trading incentives. A South African entity holds an FSCA authorization (FSP 51311).
Traders should always confirm which entity they will actually be signed up with, since account terms, leverage caps and bonus eligibility differ by entity and can change as the group continues restructuring.
Admirals offers forex, stock and index CFDs, commodities and, through its Invest account, real stocks and ETFs. Trading runs on MetaTrader 4 and MetaTrader 5, plus the Admirals mobile app. The account lineup centers on MT5: Trade.MT5 for general CFD trading, Zero.MT5 for raw spreads plus a per-lot commission, and Invest.MT5 for buying real shares and ETFs with a minimum deposit as low as $1. Trade and Zero accounts typically carry a $100 minimum deposit. Leverage is capped at 1:30 for retail clients under FCA and CySEC rules, while the Seychelles entity can offer higher leverage.
Admirals does not run deposit or no-deposit bonuses for clients of its FCA or CySEC entities. UK and EU regulators prohibit trading incentives for retail clients, so the promotions apply only to clients who sign up through Admirals SC Ltd, the Seychelles entity, and who are not residents of the UK, EU or wider EEA.
The two active offers are a $100 no-deposit credit and a 100% deposit match capped at $5,000, both structured as non-withdrawable MetaTrader credit rather than cash. The credit adds free margin but cannot be withdrawn directly; it converts to withdrawable balance only after clearing a trading-volume requirement, and both offers expire if that volume is not reached in time. The qualifying volume for the deposit match is steep enough that most users will not unlock the full headline amount.
Separately, Admirals runs a Pro.Cashback loyalty program open only to professional clients, which pays an automatic monthly rebate (around $1 per $1 million of notional volume traded), excluding very short trades and trades with minimal profit or loss.
Opening a live account requires standard KYC: a government-issued photo ID and a proof of address dated within the last few months, plus a liveness check. Admirals advertises the process as completable in about ten minutes, though full approval depends on document review.
On withdrawals, Admirals has historically offered one free withdrawal per month by bank transfer, with a small flat fee or a percentage fee on card and e-wallet withdrawals beyond that. Because fee schedules and free-withdrawal allowances differ by entity and change over time, confirm the current terms in your account dashboard before relying on a specific figure.
Yes. Admiral Markets rebranded to Admirals in 2021. The underlying corporate group and regulated entities are the same business under a new name.
Yes, through several separate entities. Admiral Markets UK Ltd is FCA-regulated (595450) and Admirals Europe Ltd is CySEC-regulated (201/13). Admirals SC Ltd is licensed by the Seychelles FSA (SD073). Note that Admirals surrendered its original Estonian license in April 2026 and shifted EU client servicing to the Cyprus entity.
Not for UK, EU or EEA retail clients, since those regulators ban retail trading incentives. Admirals does run a 100% deposit match up to $5,000 and a $100 no-deposit credit, but only through its Seychelles entity for clients outside those regions, and both pay non-withdrawable credit with a large trading-volume requirement before conversion to cash.
It depends on the account. Trade.MT5 and Zero.MT5 typically require around $100, while Invest.MT5 can be opened with as little as $1.
Admirals has generally allowed one free bank withdrawal per month, with a small fee on additional withdrawals or on card and e-wallet methods. Fee schedules vary by entity, so check the current terms in your account before withdrawing.
Not directly through those entities anymore. Admirals surrendered its Estonian license in April 2026 and now serves Estonian clients through its Cyprus entity, stopped onboarding new clients under its Jordan license in late 2025, and agreed to sell its Australian subsidiary. New signups from those regions are generally redirected to the UK, Cyprus or Seychelles entities.