This week Estonian based global forex brokerage holding company Admiral Markets Group AS released company financial statements regarding its United Kingdom FCA regulated outfit. Aside from the UK regulated office, members of Admiral Markets Group AS are regulated by various financial regulatory authorities all over the world. In the European Union, licenses have been granted for investment and brokerage activities by the Estonian Financial Supervision Authority (EFSA) ensuring that operations are in accordance with the Markets in Financial Instruments Directive (MiFID). In addition, licences have also been granted by the Australian Securities & Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) and Admiral Markets Uruguay is registered in and licensed by the Central Bank of Uruguay.
Breakdown of Admiral Markets UK Ltd 2014 Key Metrics:
The company states its permitted to but does not demand it hedge FX risk with the British Pound as a business risk. This is most important when dealing with overseas companies, especially as GBP has been quite volatile this past year. The company also attempts to maximize interest income and minimize interest expenses in order to optimize the management of cash flow and borrowing requirements. It was reported that the UK office only had five employees on year end 2014 versus three employees at 2013 year end.
Company net assets at the end of 2014 stood at £207,673 vs. 2013 where it recorded £135,652.
ROI was 0.97% in 2014 vs. 2013’s negative -28%.
Net profit margin was 0.20% in 2014 vs. 2013’s negative -128%.
Revenue stood at £463,828 in 2014 vs. £42,404 in 2013.
Pre-tax profit for 2014 recorded at £4,522 in 2014 vs. a loss of -£54,349 in 2013.
One other interesting recent business highlight to note…in March of this year ThinkForex announced the acquisition of the Admiral Markets office in Dubai.
To view the Admiral Markets UK Ltd Annual Report for fiscal year 2014, click here (PDF).
(The story was refiled to correct a previous reference to MTrading, legally MTrading has no connection to Admiral Markets, and therefore it was incorrect to say that Admiral Markets Group AS has “opened the business.” MTrading is an independent company. MTrading is also a client of Admiral Markets, however, there is no other legal connection.)