Monday, December 5 2022

Admirals, a global fintech company, says it has been licensed to provide contracts for execution of difference (CFDs) and equity trading options in South Africa.

As a result, the fintech company announced that it has added Admirals SA (PTY) Limited, an execution brokerage firm, to Admirals Groups AS.

The subsidiary, he noted, has been authorized and is to be regulated by the Financial Sector Conduct Authority, the watchdog for South African financial markets.

The fintech, which saw its revenues drop by 43% in 2021, announced them in a press release on Monday.

Admirals said it has opened an office in Cape Town, one of South Africa’s three capitals, to offer CFD services to retail traders and professionals in the African country.

“By establishing its first hub in Africa, Admirals plans to strengthen its strong presence on the continent,” the company said in the statement.

“10-year vision”

Sergei Bogatenkov, Chairman and Chief Executive Officer (CEO) of Admirals Group, noted that the company is keen to offer its CFDs and extensive global stock trading options to existing and new clients.

Bogatenkov noted that the license “signifies the conclusion of one of the key milestones of our 10-year vision.”

He added that this vision is to enable 10 million people to enjoy financial freedom by 2030.

Furthermore, the CEO noted that the license is part of Admirals’ grand plan to position the company strongly in Africa.

“Today we are witnessing a rapidly changing financial environment in Africa, which provides us with significant means to expand our customer base,” Bogatenkov said.

“We view this license as a strong benchmark, laying promising ground for the success of our long-term strategy,” he added.

Admirals said it would introduce “many exciting products” to Africa in the future through the South African subsidiary.

Admirals is a trading platform based in Tallinn, Estonia for forex and CFDs on various financial markets. It was formerly known as Admiral Markets.

In March, Admirals became one of many brokerage brands to dabble in sports sponsorship to promote their brands. The company has signed an agreement with FCI Levadia Tallinn, a top division football club in Estonia.

The company, listed on NASDAQ Nordic, was founded in 2001 by Alexander Tsikhilov.

NASDAQ Nordic operates marketplaces for securities in the Nordic and Baltic regions of Europe.

Admirals, a global fintech company, says it has been licensed to provide contracts for execution of difference (CFDs) and equity trading options in South Africa.

As a result, the fintech company announced that it has added Admirals SA (PTY) Limited, an execution brokerage firm, to Admirals Groups AS.

The subsidiary, he noted, has been authorized and is to be regulated by the Financial Sector Conduct Authority, the watchdog for South African financial markets.

The fintech, which saw its revenues drop by 43% in 2021, announced them in a press release on Monday.

Admirals said it has opened an office in Cape Town, one of South Africa’s three capitals, to offer CFD services to retail traders and professionals in the African country.

“By establishing its first hub in Africa, Admirals plans to strengthen its strong presence on the continent,” the company said in the statement.

“10-year vision”

Sergei Bogatenkov, Chairman and Chief Executive Officer (CEO) of Admirals Group, noted that the company is keen to offer its CFDs and extensive global stock trading options to existing and new clients.

Bogatenkov noted that the license “signifies the conclusion of one of the key milestones of our 10-year vision.”

He added that this vision is to enable 10 million people to enjoy financial freedom by 2030.

Furthermore, the CEO noted that the license is part of Admirals’ grand plan to position the company strongly in Africa.

“Today we are witnessing a rapidly changing financial environment in Africa, which provides us with significant means to expand our customer base,” Bogatenkov said.

“We view this license as a strong benchmark, laying promising ground for the success of our long-term strategy,” he added.

Admirals said it would introduce “many exciting products” to Africa in the future through the South African subsidiary.

Admirals is a trading platform based in Tallinn, Estonia for forex and CFDs on various financial markets. It was formerly known as Admiral Markets.

In March, Admirals became one of several brokerage brands to dabble in sports sponsorship to promote their brands. The company has signed an agreement with FCI Levadia Tallinn, a top division football club in Estonia.

The company, listed on NASDAQ Nordic, was founded in 2001 by Alexander Tsikhilov.

NASDAQ Nordic operates marketplaces for securities in the Nordic and Baltic regions of Europe.

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