Admiral Markets, founded in 2001, is a pre-eminent Forex broker that boasts a presence in more than forty countries globally. It is regarded as a highly safe online broker that is regulated in four countries which include the United Kingdom’s Financial Conduct Authority, The Cyprus Securities and Exchange Commission (CYSEC), the Australian Securities and Investment Commission (ASIC)
Admirals fall among other international brokers that depend solely on Meta Trader. Nevertheless, Admiral Markets features robust research, education and add-ons tools to outshine all the other brokers. Moreover, it has favorable trading conditions and provides excellent customer service.
The firm has for two decades provided a secure way for investing in its ever-expanding client base. While the company wishes to continue building on these successes, it also introduces new features.
Admiral Markets Celebrates Its 20th Anniversary.
Admiral markets marked its 20th anniversary with a unique celebration that saw them rebranding to Admirals as the firm transformed into a unified personal finance service center. However, changing the name was one of the previously set agendas that had now been achieved. Sergei Bogatenkov, who currently chairs the management board of Admirals, revealed that the rebranding came as an open step to reflect the company’s business.
While many changes were expected due to the rebranding, the chairman assured the clients that Admiral Market would remain client-oriented and offer services as usual. However, instead of focusing more on clients, it geared towards bringing new investor priorities.
Admiral Market’s Progress after Rebranding
The Forex brokerage firm recently reported its interim financial status for the last half of 2021, bringing mixed results across the businesses’ key components.
Admiral Markets have registered a significant drop in revenue in the first six months of 2021. Moreover, Admirals recorded net revenue of €17.3 million by the end of June. This figure shows a 55% drop from €37.9 million back in 2020.
Additionally, Admiral Markets reported operating expenses that ticked up in the first half of 2021. This is after recording a €19.3 million figure that is up by 6% compared to €18.2 million back in 2021.The interim bottom figure of the company recorded an all-time net loss of €1.7 million in the first half of 2021, which highly contrasted with a €20 million net profit it recorded in the previous year.
Regardless of the noticeably challenging times, Admirals maintained that 2021 has been a brilliant kick-off that laid the foundation for the results they expect to achieve in a few coming years. This was cited as a result of registering more clients during the first six months of 2021. Interestingly, the company recorded an 82% rise in the number of new clients compared to 2022 and 451% higher than the recorded number during the same period in 2019.
In recent months, Admiral Markets has witnessed a dramatic addition in offerings that seems to have interested more investors. After celebrating its 20th anniversary in March this year, the firm, based in Estonia, has made yet another recent headline after recalling off its previous decision to slash the charges on some ETFs (exchange-traded funds) and stocks to zero.
Admiral markets, thus, was one of the trading platforms that decided to take matters into their hands despite the unprecedented volatility that surrounded certain stocks to contextualize the move.
Notice that Admiral decided to terminate the no-charge offer for ETF CFD and Stock CFDs and imposed a commission levy in another statement. The company further tightened the restrictions in proceedings that involved trading certain highly shorted stocks- a move that followed a trading spree by amateur traders.
Moreover, the firm, a multi-asset broker, also features sudden changes in its trading terms around ETF and Stock CFDs. These changes include the effective ban on purchases of risky securities. Fortunately, the company has regulatory approvals that allow them to offer a set of financial services and is providing cross-border services across the European Union/EEA under European passport rights.
