Admirals obtains South African brokerage license
Online trading company Admirals is now licenced in South Africa. The company also announces the opening of an office in Cape Town.
Through its South African licensee, Admirals will provide execution services in CFDs to retail and professional clients. Establishing its first hub in Africa, Admirals plans to further set up its strong presence in the continent.
Admirals is proud to announce that it has added Admirals SA (PTY) Ltd, an authorized and regulated Financial Service Provider (FSP51311) by the South African Financial Sector Conduct Authority, to its Group.
“The addition of a South African license to our Group signifies the conclusion of one of the key milestones in our 10-year vision, which is to provide financial freedom to 10 million people by 2030. Admirals is becoming a global financial hub, which is not only providing smart financial solutions to its clients but is enabling access to the global financial markets everywhere and every time,” explained the CEO of the Admirals Group, Sergei Bogatenkov.
According to Mr Bogatenkov, obtaining a licence in South-Africa is a part of the larger plan to strongly position the company in the region. “Today we are witnessing a rapidly evolving financial environment in Africa, which provides us significant means to expand our client base. We see this licence as a strong landmark, laying a promising ground for the success of our long-term strategy. We look forward to bringing the chance to our existing clients and new clients to enjoy our products such as CFDs and our extensive global Share Trading options through this new license,” he added.
Admirals will be headquartered in Cape Town, which has been identified as a top financial hub in Africa. Today, Admirals’ strategic office hubs and core offices are in Estonia, Jordan, Cyprus, Malaysia and the UK. The company is strongly encouraging its employees to relocate between the hubs, thus creating a global workspace within Admirals.
As an execution dealer, Admirals SA (PTY) Ltd will provide both CFDs and Share Trading option, however Admirals plans many interesting products in the future which will be available through this South African license.
As FNG has reported, Admirals has recently announced that Admiral Markets Canada Limited became registered investment dealer and member of the Investment Industry Regulatory Organization of Canada (IIROC).