- Regulator
- Capital Markets Authority (CMA)
- Local company
- Admirals KE Limited
- Licence number
- 178
- M-Pesa
- Not confirmed
Broker review · Checked
Admirals review 2026: is Admirals legit in Kenya and South Africa?
Admirals holds a CMA licence in Kenya through Admirals KE Limited (178) and is regulated by the FCA, CySEC and ASIC elsewhere. Its South African company's ODP status shows “Withdrawn”. Published details on minimum deposit and M-Pesa conflict, so confirm before you sign up.
- Founded2001
- 🇰🇪 CMALicence 178
- 🇿🇦 FSCAChecking
- Minimum depositVaries; low (sources conflict)
- M-PesaNot confirmed
Is Admirals regulated? Licence by country
- Regulator
- Financial Sector Conduct Authority (FSCA)
- Local company
- Not yet verified
- Licence number
- —
Admirals announced a South African licence and an ODP licence; a review site lists FSCA licence 51337. We have not yet confirmed the company name on the FSCA register. Admirals SA (Pty) Ltd shows "Withdrawn" on the FSCA list of OTC derivative providers, checked 25 Oct 2026.
Source: comparebroker.io, not yet checked on the register
A licence means someone supervises the broker. It does not make trading safe: most retail CFD accounts lose money.
About Admirals
Admirals, formerly Admiral Markets, started in Estonia in 2001. It holds FCA licence 595450 in the UK and is also regulated by CySEC and ASIC. In Kenya, Admirals KE Limited holds CMA licence 178.
Admirals announced a South African licence and ODP approval, but Admirals SA (Pty) Ltd now shows “Withdrawn” on the FSCA list of OTC derivative providers.
Who Admirals suits, and who should look elsewhere
Good fit if you
- want a broker with an FCA-regulated parent and a CMA licence
- use MetaTrader 4 or 5
Look elsewhere if you
- are in South Africa
- need confirmed M-Pesa
Admirals account types and minimum deposit
| Account | Minimum deposit | Pricing |
|---|---|---|
| Trade.MT5 / Standard | Varies; low (sources conflict) | From about 1.0 pip, no commission |
| Zero.MT5 / ECN | Varies | From about 0.1 pip plus commission |
CompareBroker lists both $1 and $25 as the minimum. Check on the Admirals Kenya site.
Admirals fees: spreads, commission and other charges
| Commission | On Zero/ECN accounts, about $3 per lot |
| Inactivity fee | Not stated in Kenyan sources |
Work out the cost of a trade before you place it with our pip value and profit and loss calculators.
Admirals deposits and withdrawals in Kenya and South Africa
🇰🇪 Kenya
- Licensed company: Admirals KE Limited, CMA licence 178.
- M-Pesa is claimed by CompareBroker but missing from its own deposit table; not confirmed.
🇿🇦 South Africa
- Admirals SA (Pty) Ltd shows “Withdrawn” on the FSCA list of OTC derivative providers.
- A review site lists licence 51337; not confirmed.
M-Pesa limits, rand EFT, cards, e-wallets and the payment scams to avoid: read our deposits and withdrawals guide.
Admirals trading platforms
- MetaTrader 4
- MetaTrader 5
Is your money safe with Admirals?
- CMA licence in Kenya; FCA, CySEC and ASIC for other group companies.
Admirals pros and cons
Pros
- CMA licence
- Long history and FCA-regulated parent
- MT4 and MT5
Cons
- South African ODP withdrawn
- Conflicting published minimums
- M-Pesa not confirmed
Our real-money test of Admirals
Coming
We will open a Admirals account, deposit, place a trade and withdraw, then publish the screenshots, the time each step took and every fee we paid.
Admirals withdrawal time: reports from traders
How long do Admirals withdrawals really take?
Loading reports…
Median of reports from traders. Not checked by us; our own tests are marked separately.
Withdrawal stuck or refused at Admirals? Get a ready complaint letter and the right regulator contact with our complaint desk →
Admirals: questions people ask
Is Admirals regulated in Kenya?
Yes. In Kenya, Admirals operates through Admirals KE Limited, which holds CMA licence 178. Check that this company is named on your client agreement, not an offshore company of the same brand.
Is Admirals regulated by the FSCA in South Africa?
Not confirmed. We have not yet matched Admirals to an FSCA licence number, so it gets no “Visit” button for South Africa until we do. Admirals announced a South African licence and an ODP licence; a review site lists FSCA licence 51337. We have not yet confirmed the company name on the FSCA register. Admirals SA (Pty) Ltd shows "Withdrawn" on the FSCA list of OTC derivative providers, checked 25 Oct 2026.
Is Admirals regulated in Kenya?
Yes. Admirals KE Limited holds CMA licence 178.
Can South Africans use Admirals?
Its South African company shows “Withdrawn” on the FSCA ODP list, so check its status before opening an account.
Sources for this review (checked 25 Oct 2026)
- CMA: licensed non-dealing online forex brokers
- FSCA: OTC derivative providers search
- CompareBroker: Admirals review Kenya
Fees, minimums and payment methods change and can differ by the company you sign with. Confirm them on the broker's site before you deposit. Spotted something out of date? Tell us.