As a German person who wants to carry out online trading using your mobile android or apple device, “Admiral Markets Deutschland” would be the best place for you to join and try.It came into existence back in 2001 and it acts as a Forex broker that makes forex trading accessible for all individuals around the world using their local currencies.
The particular platform is therefore 15+ years old in the business and it is regulated by the Estonian Financial supervisory authority and the financial conduct authority. Its regulations allow the platform to serve traders from all over the globe. It’s one of the best options for traders because it has proven that it can hold on even after such a long time in the business. So here are a few details about the online broker and the account types you will see in there.
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Micro accounts for trading
In this platform, there are 3 types of accounts that you get to choose from and theminimum price needed to open the minimum priced account,which is a micro account, is only $200. It provides you a leverage value of 1:500 which can be adjusted or decreased according to the trader requirement.
This particular type of account also gives you a competitive pip spread starting from 0.8 pips. It has no limits or stop levels and doesn’t charge any forex commissions. You can have a minimum order size of 0.01 and a maximum order size of 100. It also allows hedging and its functions using the platform MT4. It allows mobile trading on platforms and devices such as apple and android.
ECN/admiral prime accounts
An ECN account is also known as the admiral prime account. It has spreads of up to 0 pips and a commission of $3 per lot. The leverage that exist in this type of account is 1:200. This type of account,which is the admiral prime or the ECN account, will only be usable when a minimum deposit of $1000 is deposited.
This might turn off some small retail traders as the cost of deposit is high. There are no limits or stop levels. The commission level of this account is $35 per one million notional value and it has market execution with which you can have a minimum order size of 0.1 and maximum order size 200. Hedging is also allowed and the account is traded on an MT4 platform. The mobile versions are available for both android and apple.
Admiral MT5 account
This account incorporates all trading rules given out by the MT5 platform such as not allowing to hedge. This is more suitable for people who are comfortable with using the MT5 platform. It also has a minimum deposit of $1000 and the leverage value offered will be 1:100. The pip spread offered will be around 0.2.
This does not allow hedging and the commission is 0.003% of volume traded. The minimum order size is 0.1 and maximum order size is 50. It also allows trading on android and apple for mobile users.
Even if this online method requires high minimum deposits, it is actually cheaper than other ECN brokers. It also gives the ability for the traders to take benefits of the cost savings but mainly for traders that do many trading at a time.
A final fact about its reputability
The online broker has more than 94,000 operating clients and a total trading amount of 50 billion dollars,employing about 400 people as its staff from all around the world. In the year of 2015, this online broker was also awarded as the second in category of forex broker of the year by Broker Wahl in Germany. Additionally,it’s also chosen as the best online broker by people that use online forex trading.