Multi-asset brokerage Admiral Markets has announced opening a subsidiary in Jordan. The move is part of a global expansion strategy in the Middle East and North Africa (MENA) region.
Based in Amann, the new company arm is fully regulated by the Jordan Securities Commission (JSC) and has 10 employees.
According to the official announcement, opening the new subsidiary required €4 million investment.
Admirals acquired the new license and launched the project to expand in Jordan on 6 June 2021.
Sergei Bogatenkov, the CEO of Admiral Markets AS, commented:
Sergei Bogatenkov
The Middle East and North Africa region is home to 600 million people, which means a great potential for us to grow our customer base and gain a larger market share, while looking to provide the opportunity for people in the region to experience the joys of alternative financial products which we have seen take off so successfully in Europe over the last years. Our expansion plans are supported by the rapid development of the IT sector there.
Admiral Markets celebrated 20 years in the industry in March and announced its rebranding to Admirals.
Bogatenkov added:
Back in 2001, Admiral Markets was a Forex and CFD brokerage company. Today, it stands for an innovative and streamlined personal finance experience. Our goal is to offer integrated solutions for investing, paying, lending and managing money. In 10 years’ time, we want to provide financial freedom for 10 million people. The local presence in Jordan is one of the steps in implementing the long-term vision and positioning the company in new markets.
