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Head to head

Admirals (Admiral Markets) vs Orbex

Admirals (Admiral Markets) is licensed by FCA in the United Kingdom, CySEC in the European Union and CMA in Kenya, and also has an offshore registration. Orbex is licensed by FSC Mauritius in Mauritius (international clients), and also has an offshore registration. The licence that applies to you depends on where you live, so check which company you would contract with before comparing anything else.

Minimum deposits start at $25 at Admirals (Admiral Markets) and $100 at Orbex. Both offer negative balance protection and segregated client money.

Facts last checked: Admirals (Admiral Markets) on 20 October 2026, Orbex on 20 October 2026.

Admirals (Admiral Markets) profileOrbex profile
Broker 1
Broker 2
Broker 3

Monthly cost uses the account chosen in each slot: cost per lot × your lots. Swap and other fees are extra. The lowest monthly cost is highlighted only as a fact about cost, not as a recommendation.

Broker
Admirals (Admiral Markets)Strictly regulatedRead the profile
OrbexRegulatedRead the profile
Comparing
Admirals (Admiral Markets)United Kingdom
OrbexMauritius (international clients)

Overview

Founded
Not yet checked
2011
Headquarters
Tallinn, Estonia (Admirals Group AS)
Ebène, Mauritius
Official websites
  • admiralmarkets.com
  • admirals.com
  • admiralmarkets.com.cy
  • orbex.com
Facts last checked
20 October 2026
20 October 2026

Regulation and protection

Company you would contract with
Admiral Markets UK Ltd
Orbex Global Ltd
Regulator
FCA
United Kingdom
FSC Mauritius
Mauritius (international clients)
Regulation level
Strictly regulated
Regulated
Licence number
595450
Check the register
C118023330 (SEC-2.1B Investment Dealer)
Check the register
Clients this company serves
UK residents
International clients; Orbex's trading terms name Orbex Global Limited as the counterparty
All licences held
  • FCA (United Kingdom)
  • CySEC (European Union)
  • CMA (Kenya)
  • FSA Seychelles (Seychelles)
  • FSC Mauritius (Mauritius (international clients))
  • FSA Seychelles (Seychelles (international clients))
Segregated client money
Yes
Yes
Negative balance protection
Yes
Yes
Compensation scheme
FSCS up to £85,000 (UK); ICF up to €20,000 (Cyprus); none for the Seychelles company
None

Costs

Your monthly cost
No accounts listed
No accounts listed
Cost per lot (EUR/USD)
No accounts listed
No accounts listed
Spread from
No accounts listed
No accounts listed
Typical EUR/USD spread
No accounts listed
No accounts listed
Commission per lot (round turn)
No accounts listed
No accounts listed
Typical GBP/USD spread
Not yet checked
Not yet checked
Typical USD/JPY spread
Not yet checked
Not yet checked
Typical XAU/USD spread
Not yet checked
Not yet checked
Swap-free account
Yes
Yes

Leverage and margin

Maximum retail leverage
1:30 on major pairs (UK, EU); up to 1:1000 at the Seychelles company
Up to 1:500 (1:30 by default when the account is opened)
Retail leverage by asset class
  • Currency pairs (Seychelles company): up to 1:1000
  • Indices (Seychelles company): up to 1:500
  • Major currency pairs (UK and EU companies): 1:30
  • All CFDs, up to 19.99 lots open: Up to 1:500
  • All CFDs, 20 to 39.99 lots open: 1:300
  • All CFDs, 40 lots or more open: 1:100
Margin call level
Not yet checked
100%
Stop-out level
30% (Seychelles company)
20%

Account

Minimum deposit (this account)
No accounts listed
No accounts listed
Base currencies
No accounts listed
No accounts listed
Execution
No accounts listed
No accounts listed

Platforms and features

Platforms
  • MetaTrader 4
  • MetaTrader 5
  • MetaTrader WebTrader
  • Admirals Platform
  • Admirals Mobile App
  • StereoTrader
  • MetaTrader 4
  • MetaTrader 5
  • MT4 and MT5 web terminals
  • Orbex mobile app
  • FIX API
Markets
80 currency pairs, metal, energy, index, stock, ETF and crypto CFDs, plus real stocks and ETFs on Invest.MT5
400+ CFDs on forex, stocks, metals, indices, energies and futures
Demo account
Yes
Yes
Copy trading
Not yet checked
Yes
Expert advisors (automated trading)
Yes
Yes
News trading allowed
Not yet checked
Yes
Guaranteed stops
Not yet checked
Not yet checked

Deposits and withdrawals

Deposit methods
  • Bank transfer
  • Debit or credit card
  • Skrill
  • Neteller
  • Crypto
  • Visa
  • Mastercard
  • Skrill
  • Neteller
  • Perfect Money
  • UnionPay
  • Bank wire
  • Local payment methods
Withdrawal fee
One free withdrawal a month per payment method, then a fee by method (2% or 3% at the Seychelles company)
0% from Orbex on cards and e-wallets listed on its funding page
Inactivity fee
10 EUR a month after 24 months without trades (only on a positive balance)
Not yet checked

Support

Customer support
Not yet checked
24/5 live chat, email and phone, plus call-back requests

Our notes

Strengths
  • UK and EU companies licensed by the FCA and CySEC, with client money in segregated accounts
  • Low minimum deposit (25 USD or EUR on Trade.MT5 and Zero.MT5, 1 USD or EUR on Invest.MT5)
  • Fees and charges page lists the inactivity, withdrawal and transfer fees in one place
  • Orbex Global Ltd is on the FSC Mauritius register as an investment dealer (SEC-2.1B), licensed since 7 January 2019
  • Says client money is held separately from company money and offers negative balance protection on all accounts
  • Commission-free Starter account from $100, and raw-spread accounts with a published per-lot commission
  • MetaTrader 4 and 5, a FIX API and PAMM accounts
Watch out for
  • International clients join Admirals SC Ltd, licensed only in the Seychelles (offshore tier), with leverage up to 1:1000
  • Says Admirals SA (Pty) Ltd is licensed by the FSCA; the FSCA's OTC derivative provider list shows it as Withdrawn, and we could not reach the FSCA FSP register on 2026-10-20 to check its FSP licence.
  • The group also names companies in Jordan, Canada and the UAE; we did not confirm those licences on 2026-10-20.
  • Only one free withdrawal a month per payment method; after 24 months without trades a 10 EUR monthly fee applies
  • Its CySEC licence (124/10, ORBEX Ltd) is shown on the CySEC register as under examination for voluntary renunciation, so new clients are not covered by EU rules or the Cyprus compensation fund, even though the website still mentions the ICF
  • The website names several operating companies (Orbex Global Ltd in Mauritius, Orbex Limited in Seychelles, an Orbex Limited registered in Saint Lucia and Orbex LLC in St Vincent); check which one is named in your agreement
  • Leverage up to 1:500, far above the 1:30 cap that applies in the UK and EU
  • The spreads it publishes are minimums ("as low as"); typical spreads are not published

Risk warnings

The buttons to a broker’s website above the table are partner links: we may earn a commission if you open an account through them. That never changes the facts shown here. Trading leveraged products such as forex and CFDs carries a high risk of losing money rapidly, and most retail accounts lose money. Each broker’s own warning:

  • Admirals (Admiral Markets): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
  • Orbex: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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Other head-to-head pages

Cost per lot is the typical EUR/USD spread in busy hours × $10, plus any round-turn commission, for one standard lot. “Not yet checked” means we have not confirmed that fact yet. This page compares facts; it does not rank the brokers or recommend either. Confirm costs and licences on each broker’s site and the regulator’s public register before opening an account: see how we review brokers and check a broker yourself.

Nothing on this page is financial advice. Read the full disclaimer.

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