Estonia based Retail FX and CFDs broker Admirals has announced the resumption of onboarding for new EU clients, following what the company called a “temporary pause” earlier in 2024.
FNG had exclusively reported last April – 11 months ago – that Admirals had stopped onboarding clients in the EU, via its Cyprus based, CySEC licensed subsidiary Admirals Europe Ltd. The move followed a 2023 restructuring at Admirals, which saw the company relinquish its license in its home country of Estonia.
The company said that this decision reflects Admirals’ ongoing commitment to regulatory compliance and its dedication to upholding the highest industry standards in the European Union. The pause allowed the company to further enhance its compliance framework, ensuring continued alignment with evolving financial regulations, while maintaining uninterrupted service to existing clients.
Admirals said it is resuming all onboarding activities in the EU, as the level of service to existing clients has not changed. As the company moves forward with changes and updates that mark its close collaboration with CySEC, Admirals said it aims not only to resume attracting new clients, but also to strengthen its position in the market as a reputable, strong and solid partner.
We had reported earlier today that Admirals saw its Revenues fall by 25% in the second half of 2024, to their lowest levels since last decade, as the company reported a fifth consecutive (semi-annual) net loss.
