Desk file · 2026 edition · record confidence: medium
Admirals (Admiral Markets)
We opened the file on Admirals (Admiral Markets) the way we open every file: register first, marketing never. Trading since 2001, run out of Tallinn, Estonia, and carrying 3 licence entries on the public record, 1 of them tier-1. Opened under the FCA entity.
What the two desk scores say
Both are out of 10 and both are computed, not felt.
| Cost score | Priced off the spread basis below, not off a headline rate card. | 8.4 |
|---|---|---|
| Safety score | Weighted on licence tier and on how many of the entries we could re-read at source. | 6.6 |
| Cost per 10 lots | Ten round-turn EUR/USD lots priced at the spread basis, commission excluded. | $50.00 |
Spread basis. sampled EUR/USD average on the tightest retail account. Nothing on this page is a live quote; a spread printed on a Tuesday afternoon is not the spread you get thirty seconds after a non-farm payroll release.
Licence entries, one row per entity
Every row links to the document we read it from.
| Regulator | Licence no. | Jurisdiction | Tier | Licensed entity | Source |
|---|---|---|---|---|---|
| FCA | 595450 | UK | T1 | Admiral Markets UK Ltd | register.fca.org.uk |
| CySEC | 201/13 | Cyprus | T2 | Admirals Europe Ltd | admiralmarkets.com |
| Estonian Financial Supervision Authority (EFSA) | Estonia | T2no longer active | Admiral Markets AS | admirals.group |
Which entity actually holds your money is decided at signup, by the country on your application — not by the strongest licence in this table. Read the client agreement you are handed, then match the entity name against the row above.
What we were able to confirm
Confirmed at source
- The group operates under the Admirals brand, having rebranded from Admiral Markets.
- Admiral Markets UK Ltd is authorised by the FCA under firm reference number 595450.
- Admirals Europe Ltd holds CySEC CIF licence number 201/13.
- The group is headquartered in Tallinn, Estonia.
- Finantsinspektsioon (the Estonian Financial Supervision and Resolution Authority) withdrew the investment firm licence of Admiral Markets AS on 27 April 2026 following an application from the company itself; the regulator states Admiral Markets AS has terminated its client relationships and that investment services continue to be provided in Europe under the Admiral Markets brand through Admirals Europe Ltd, which operates in Cyprus (https://www.fi.ee/en/news/finantsinspektsioon-has-withdrawn-licence-investment-firm-admiral-markets).
Not verified
The following could not be traced to a primary source at the time of filing. We publish the gap rather than a number that would look tidier:
- Founding year — sources give both 2001 and 26 February 2003 (Estonian incorporation)
- EFSA licence number
- Minimum deposit varies by entity and account type
- EUR/USD spread figure is a marketing 'from' value
- public listing status
| Founded | 2001 |
| Head office | Tallinn, Estonia |
| Minimum deposit | $100 |
| Leverage cap | 1:30 (UK/EU retail) |
| EUR/USD | 0.50 pips |
| Tier-1 entries | 1 |
| Record confidence | medium |
Platforms and account types on file
Platforms
Account types
Markets
Other records open on the desk
CFDs are complex instruments with a high risk of losing money rapidly due to leverage. A desk file is a record of what the public register said on the day we read it, not a recommendation to open an account.