Admirals Financial Report 2025: Experiencing a Deficit of Up to EUR18.5 Million

In recent Forex broker news, it has been reported that Admirals forex broker has just released its 2025 financial report showing a sharp decline. Throughout the last year, client trading volume plummeted by 47% to €271 billion.

Not only that, the total transactions also dropped by 34%, followed by a decrease in the number of active traders by 32%. The most striking decline was seen in new account registrations, which fell by 49% compared to the previous year.

This sluggish trading activity has a direct impact on the company's finances. Revenue from client transactions and liquidity providers plummeted from €40.7 million in 2024 to only €18.7 million in 2025.

As a result, Admirals recorded an operational loss (EBITDA) of €1.6 million. In fact, the company's net loss ballooned to €18.5 million. This was exacerbated by a cost ratio that soared to 201%, meaning the company's operational costs doubled compared to the revenue generated.

Although Admirals has tried to save costs by cutting operational expenses by 18% and reducing the number of employees by 21% (to 186 people), this step has not been enough to save the financial balance.

This is due to unavoidable fixed costs, such as technology development, licensing, and compliance infrastructure. The company's total assets also fell by 27% to €58.3 million, and shareholders' equity decreased by 28% due to the significant losses.

However, amid this all-red report, there is a bit of good news. The capital position of Admirals forex broker is still considered very strong. This multi-asset broker has its own funds amounting to €54.3 million with a capital adequacy ratio of 568%. This figure is well above the minimum threshold set by regulators.

On the other hand, the branch of Admirals in Estonia also reported poor results with a net loss of €16.2 million, much larger than the previous year's loss of only about €0.35 million.