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Admiral Markets expands the 8 offer with new CFDs on MT5
Admiral Markets, Forex broker from Estonia (currently supervised by the British FCA), announced the expansion of the offer with new instruments. From September 10, traders can trade CFDs based on the prices of copper, cocoa, arabica coffee, robusta coffee, cotton, orange juice, unrefined sugar and white sugar.
Only for professionals?
At the moment, trading in new real account instruments is available only to traders with status "Professional client". Retailers, for now, will have to settle for trading on DEMO accounts. How long will it take? According to the assurances of Admiral Markets, a maximum of several weeks.
It is worth noting that newly added CFD instruments will be available only on the MetaTrader 5 platform. Is this the next step to quenching MT4? Recall that from the 4 platform views he has already given up TMS Brokers for good.
We discussed the decisions related to the extension of the offer with the managing director of the Polish branch of Admiral Markets - Adam Narczewski.
Forex Club: Admiral Markets added new CFD instruments to the 8 offer. In addition to copper, there were also agricultural commodities, relatively rarely offered by Forex brokers. Have the clients reported to you a clear demand for trade in them or was the initiative to introduce them directly from you?
Adam Narczewski: We usually decide to extend our offer after consultations or votes of our clients. We don't want our initiatives to fail :-). We want to provide our customers with the services they want, not the services we believe are appropriate. We often hear suggestions and inquiries about specific financial instruments. If such inquiries are repeated, we analyze the situation with our business partners and examine the possibility of adding a given instrument or group of instruments. We are looking for the best solution in terms of operational and cost effectiveness. If we find such, the business decision is simple: we expand our offer. This was also the case here.
FC: At the moment, they are available for trading only for professional clients. "Retailers" have to wait a few weeks. What it comes from?
AN: The Admiral Markets Pro service launched by us gives additional benefits to professional clients, including priority access to new instruments. Professional clients have greater experience in trading in leveraged instruments, hence the new asset class is not a major challenge for them. It is different in the case of retail customers who until now could not have been in contact with the given instruments. High volatility, trade sessions, susceptibility to many economic conditions make these instruments well known before we trade on them. Demo accounts include newly added instruments also in the option for retail customers. These few weeks of testing the demo are the perfect period to learn about the specifics of trading on new instruments.
FC: New instruments are available only on the MetaTrader 5 platform. Is this the next step to suggest that MT4 time is coming to an end and soon we will all switch to MT5?
AN: We realize that MT4 is still the most popular trading platform in the world when it comes to CFD instruments. However, we try to suggest customers to test MT5. This is a completely different system than the one that was released a few years ago. Many defects have been removed, to which traders complained. MetaQuotes, the company that provides the MetaTrader platform, has stopped supporting MT4 for some time. Several brokers completely removed it from the offer. All signs in the sky indicate that in the near future we will all be switching to MT5. New instruments are available only on MT5, among others for this reason. This platform gives greater opportunities to brokers when it comes to management of instrument groups.
FC: Does Admiral Markets already have an indicative date of withdrawal from the MT4 offer in mind?
AN: We do not know the official or indicative date. Personally, I think that switching to MT5 will take place during the next 12 months.
FC: At the moment, about 4000 instruments are available. Does Admiral Markets plan to further expand its offering in the future? What else can it (positively) surprise its customers with?
AN: We want to surprise our customers only positively, although I know that it is not always successful. It is a really difficult business and the client is demanding. But we plan to expand our offer as much as possible. We collect information from clients on a regular basis. For sure there are more instruments from the group of industrial and agricultural raw materials on the wallpaper. We also receive signals of growing interest in the Admiral.Invest account, where cash and ETF shares from around the world are available. The offer will be widened in this segment. Additional instruments are not everything. We are planning a completely new approach to education, where we will offer practical training not only for experienced speculators, but also for novice traders. We are also constantly developing our Supreme add-on for MetaTrader platforms, which extends their functionality by more than 60 tools and indicators.
FC: Thank you for the interview and good luck in implementing the plans!
New instruments - details
Below are the trade terms that the new CFDs feature:
- New instruments: copper, cocoa, arabica coffee, robusta coffee, cotton, orange juice, unrefined sugar, white sugar.
- No expiration date - there is no time limit in keeping an open position.
- No commission - the only cost is the spread.
- Financial leverage:
- up to 1:50 for professional clients on CFDs on agricultural commodities and up to 1: 100 on CFDs on copper
- fixed leverage 1:10 for Retail Clients. - The minimum contract size - Mini.
- Transaction platform - MetaTrader 5.
A detailed specification of the instruments is available on the broker's website HERE.
