Admirals Forex Broker Perfects Strategy by Selling Australian Division
Admirals has sold its ASIC-licensed unit to concentrate on key markets and global growth. The broker is regulated by various authorities, including CySEC and FCA, and serves more than 100,000 clients.
Forex broker Admirals has sold its Australian unit to an unrelated party sas part of a strategic shift aimed at strengthening its focus on key regions for global expansion. This move is in line with forex broker Admirals's commitment to drive growth and profitability in areas that are central to its business strategy.
Founded in Tallinn, Estonia, on March 5, 2001, as Admiral Markets, this multi-asset broker initially operated under the regulation of Estonian FSA. This broker then expanded to the Australian market in June 2021, and is ASIC regulated.
This broker is also starting to target the Asian region to expand its footprint. However, the decision to sell the Australian unit comes as part of Admirals's strategic restructuring to prioritize more profitable regions.
Notwithstanding the sale, Admirals remains a multi-regulated broker, licensed to authorities such as CySEC, the UK's FCA, and others around the world, including South Africa's FSCA, Canada's IIROC, and Seychelles' FSA. Admirals is also expanding its regulatory reach into crypto services with CySEC registration.
Serving more than 100,000 clients worldwide, the broker has strict financial controls to ensure client funds are safe, with separate accounts and negative balance protection . Financial reports are also published regularly on its website for transparency.
In addition to this shake-up, Admirals has seen changes in its senior management, including the return of founder Alexander Tsikhilov as CEO, which further reflects the broker's new focus on optimizing its strategy for future growth.
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