New ESMA margin rules to Retail and Professional Trading Terms as of 30 July 2018


This news article contains all of the information concerning the upcoming changes in trading terms that we will be applying, starting from the session opening on Monday 30 July 2018.

1. Introduction

As you may already know, new regulatory restrictions will be coming into force and will include an x17 – x25 reduction of maximum leverage, a ban on trading bonuses such as cashback, and an increase in the Stop Out level to 50% for Retail Clients. Traders categorised as Professional Clients will gain exemption from leverage limits and other restrictions.

2. Useful links

Just in case you’re missing any part of the picture, we have produced a number of informative resources to refer to at your convenience:

Links What can I do on this page?
Margin Calculation Examples
  • See margin calculation examples under the new retail terms as of 30 July 2018.
  • See margin calculation examples under the professional terms, illustrating the tiered margining.
Retail and Professional Trading Terms
  • See the major pros and cons of retail and professional client categorisations.
Admiral Markets Pro
  • Check if you could be eligible for Professional Client categorisation.
  • View the benefits of our professional trading offering, Admiral Markets Pro.
  • Find detailed answers concerning all of the above.

3. Changes Applicable to Retail Clients

The following changes will apply to you starting from the session opening on Monday 30 July 2018, if you haven’t been approved as a Professional Client prior to the above date.

3.1. Reduction of the maximum leverage

The maximum leverage for Retail Clients with Admiral.MarketsAdmiral.PrimeAdmiral.MT5 accounts will be limited as follows:

Leverage Instruments
  • Major currency pairs: EURUSD, GBPUSD, USDJPY, USDCHF and USDCAD.
  • All other currency pairs.
  • [DAX30], [DJI30], [SP500], [NQ100], [JP225], [ASX200], [STOXX50], [FTSE100], [CAC40].
1:10 All other index and commodity CFDs (e.g. WTI, SILVER, [IBEX35]).
1:5 CFDs on stocks, ETFs and bonds (e.g. #AAPL, #QQQ, #Bund).
1:2 Cryptocurrency CFDs (e.g. BTCUSD, ETHUSD).
See margin calculation examples

Please note that if you have previously reduced your account’s leverage to lower levels than shown in the table above via Trader’s Room, your settings will remain unchanged. You will be still able to choose the following leverage rates in Trader’s Room: 1:30, 1:20, 1:10 and 1:5.

3.2. Increasing the Stop Out level to 50%

The Stop Out level for Retail Clients with Admiral.Markets and Admiral.MT5 accounts will be increased from 30% to 50% or the margin collateral.


The leverage limits will be applied to all positions including those opened prior to the above date, and those you may open thereafter. In other words, the leverage limits will impact your open positions immediately on the session opening on Monday 30 July 2018, increasing the value of the required margin by x17 – x25 times as per the table in clause 3.1.

Please be advised to review your account status prior to the session close on Friday 27 July 2018, and amend your market exposure to fully meet the new margin requirements, and the increased Stop Out level, if necessary, to avoid the possible disruptions of your trading.

3.3. Termination of the bonus programmes

As a Retail Client, you will no longer receive Admiral Club points starting from 1 August 2018. However, you will be still able to convert your previously accumulated points into cash until the end of the calendar month. Any remaining Admiral Club balances will be nullified on 1 September 2018.

Additionally, as a Retail Client, you will no longer be eligible for our Special Bonuses and Personal Offer programmes, as well as, for any prospective bonuses and incentives.

3.4. Replacement of the Negative Balance Protection Policy with general regulations

As a Retail Client, you will be protected from account deficits as per general Pan-European regulations imposed by ESMA. This will include:

  • Compensation of negative balances on an unconditional basis, without a need to request compensation and without the payout limits;
  • Payment of negative balance compensations on a per-account basis.

In other words, Retail Clients will no longer need our internal policy to have this kind of protection.

4. Changes Applicable to Professional Clients


As a Professional Client, you gain exemption from all restrictions related to ESMA’s decision as of 27.03.18, including the restriction of maximum leverage, access to bonuses and minimum Stop Out level.

More specifically, you will retain your current leverage up to a default rate of 1:500 or any other rate you have previously selected in Trader’s Room.

4.1. Reduction of the Stop Out level to 30%.

All traders categorised as Professional Clients with Admiral.Prime accounts, as well as traders with Admiral.Markets and Admiral.MT5 accounts who had a higher Stop Out level for any reason will receive a reduction of this setting to 30%.

4.2. Replacement of the Admiral Club programme with Pro.Cashback

As a Professional Client, you will gain access to a new bonus programme – Pro.Cashback. This bonus will replace Admiral Club in a more convenient manner so you will no longer request the “points to money” conversion – we’ll do that automatically on a monthly basis, and you will always get your bonus paid. We’ll let you know all the details in a separate message.

Please note that the Admiral Club programme will be terminated for all clients, so you’ll need to cash out your accumulated points before 1 September 2018 in order to avoid losing them.

Also, as a Professional Client, you will retain access to other existing benefits – Special Bonuses and the Personal Offer – and you will also be eligible to participate in all prospective promotions, campaigns and loyalty programmes.

4.3. Activation of the Priority service

As a Professional Client, you will enjoy priority access to our new trading instruments and services before they are made available to other clients. Our new offering for Professional Clients signifies our dedication to making the Admiral Markets Pro service a 1-stop shop option for experienced traders worldwide.

And of course, we hope that our Pro clients will provide quality feedback and help us to improve our services.

If you have any questions about the upcoming changes, please visit our FAQ and do not hesitate to contact us.

Kind Regards,

Admiral Markets

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