In the first half of 2024, Admirals Group AS reported
increased trading revenues and positive EBITDA despite low market volatility.
The Group’s net trading income rose by 4% to EUR 22.0 million, up from EUR 21.1
million in the same period of 2023.
EBITDA Turns Positive
Operating expenses for the Group decreased by 9%, totalling
EUR 22.9 million compared to EUR 25.2 million in the previous year. EBITDA
reached EUR 0.4 million, a turnaround from a loss of EUR 2.9 million in the
first half of 2023. The Group’s net loss improved to EUR 1.2 million, compared
to EUR 4.8 million in the previous year.
Earlier, Admirals launched an analytical research terminal for the MetaTrader 4 and
MetaTrader 5 platforms, as reported by Finance Magnates. According to
FinanceFeeds, this tool utilizes AI-driven analytics to deliver market
insights, helping traders make informed decisions.
The terminal includes various features such as a corporate
calendar, economic calendar, NewsIQ, and integration with Dow Jones. It
consolidates news articles, data, and insights to provide a centralized
platform for traders to stay informed about market developments.
Regulatory Changes in Progress
In April 2024, Admirals voluntarily suspended the onboarding
of new customers for Admirals Europe Ltd. This decision is related to the
company’s efforts to align with recommendations from the Cyprus Securities and
Exchange Commission (CySEC) and affects only its operations in EU countries.
Admirals is working to implement the required changes to
meet regulatory standards. The company is collaborating with CySEC to resume
attracting new clients in the EU and to strengthen its market position as a
compliant entity.
Meanwhile, the UK’s Financial
Conduct Authority (FCA) has warned about a fraudulent firm impersonating
Admiral Markets UK Ltd. The cloned entity, operating under the name
admrlmrkts.co, uses the legitimate firm’s details to deceive individuals. The
FCA notes that this clone scam involves using similar contact information to
confuse potential investors.
This article was written by Tareq Sikder at www.financemagnates.com.
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