- Admirals has suspended new client registrations within the European Union as it focuses on regulatory compliance. Existing clients can continue trading as normal.
Retail FX and CFDs broker Admirals has suspended onboarding new clients within the European Union.
The company, which serves European clients via its Cyprus-based subsidiary Admirals Europe Ltd. (regulated by CySEC), cited a need to adapt to changing regulatory standards.
A notice on the Admirals website states: “Please note that registration of new clients is presently unavailable. For existing clients who have completed the onboarding procedure, trading or investing activities are not affected. Thank you for your understanding.”
This decision emphasizes Admirals’ commitment to regulatory compliance, the company says. Existing clients within the EU will continue to receive uninterrupted service.
The shift comes following Admirals’ release of 2023 financials, which indicated a €10 million loss and a 41% decrease in revenue.
The company has also undergone a leadership change, with longtime CEO Sergei Bogatenkov departing and Admirals founder Alexander Tsikhilov assuming the CEO position.
