Admiral Markets reports a record 2022% growth in first half of 2020

Online FX and CFDs broker Admiral Markets reported first half of 2020 volumes and a successful half of the year. The net trading volume grew to €31.6 million with a 2022% increase since the previous year. The parent company, Admiral Markets Group AS registered similar success with €37.9 million and 1321% growth.

The broker was able to register some record growth even through the volatile market conditions in the first half of 2020 during the Covid-19 pandemic.

Sergei Bogatenkov, the CEO of Admiral Markets said:

The most important thing was to ensure a safe environment for our people. As our business is conducted in the online world, we were able to continue with our usual work rhythm to provide our clients with the high-level customer communication and personalized trading and investment experience that characterizes us as an industry leader.

Admiral Markets reports a record 2022% growth in first half of 2020

In the first half of the year, Admiral Markets also set a record growth of new customers with 260% increase since the previous year.

Bogatenkov explained:

Sergei Bogatenkov, CEO of Admiral Market AS

Sergei Bogatenkov

Admiral Markets is today a financially secure company, offering its customers a successful partnership. Our focus is on aggressive clients’ growth. As a digitally developed company, one of the reasons for success is definitely our IT developments. The most prominent of these is the new trading application, which provides customers an even more personalized native trading experience than before.

Statement of Financial Position

(in thousands of euros) 30.06.2020  31.12.2019
Due from credit institutions 25,881 19,757
Due from investment companies 9,533 6,786
Financial assets at fair value through profit or loss 11,915 9,759
Loans and receivables 6,842 3,983
Other assets 1,098 912
Long-term investments 4,180 0
Tangible assets 1,365 1,283
Right-of-use asset 4,447 4,059
Intangible assets 546 630
Total assets 65,807 47,169
Financial liabilities at fair value through profit or loss 133 66
Liabilities and prepayments 2,739 2,349
Subordinated debt securities 1,827 1,827
Lease liabilities 4,584 4,145
Total liabilities 9,283 8,387
Share capital 2,586 2,586
Statutory reserve capital 259 259
Retained earnings 53,679 35,937
Total equity 56,524 38,782
Total liabilities and equity 65,807 47,169

Read More:

Read Also: