Admiral Markets doubled net trading income in 2020

Rick Steves

The Forex-and CFD-focused company, which was founded 20 years ago, now aims to onboard 10 million clients by 2030.


Admiral Markets Group has released its unaudited interim report for the year 2020. According to the document, the company doubled its net trading income to EUR 47.1 million from EUR 23.2 million in 2019.

The report highlights the EBITDA of €21.6 million (2019: EUR 5.8 million), with a margin of 46% (2019: 25%). Net profit was EUR 20.3 million (2019: EUR 4.6 million) and its margin was 43% (2019: 20%).

The cost to income ratio was 56% (2019: 83%), the value of trades rose by 68% to EUR 998 billion (2019: EUR 590 billion), and the number of trades rose by 110% to 66.9 million (2019: 31.8 million).

“Our impressive growth was accompanied by the launch of new regions which have brought us significantly closer to our long-term goals”, said Sergei Bogatenkov, Chairman of the Management Board of Admiral Markets AS. “We launched exceptional new services which bring our clients closer to financial freedom. We acquired a platform to offer Peer to Peer lending. As a result, the next generation is open to access capital from crowdfunding and friends. They are open to reducing the costs and unnecessary red tape from traditional banks.”

“The success we witnessed last year is the combination of strategic management, rapid adjustment to the global situation, and the willingness to be agile, flexible, and open to change”, Mr. Bogatenkov added.

The Forex-and CFD-focused company was founded 20 years ago. The firm aims to onboard 10 million clients by 2030.

The year 2020 was a freak year as the COVID-19 pandemic took over the world by surprise. Negative oil prices in April 2020 turned out to be problematic for many trading platforms, including Admiral Markets, as they were not ready to reflect negative prices and calculate credit limits.

This has resulted in unilateral changes in the methodology used for calculating the spot price of crude oil and raised fees for depositing certain securities overnight. The Estonian financial watchdog – Finantsinspektsioon – has recently decided to fine Admiral Markets AS 32,000 euros for breaching its legal obligations in providing investment services.

The trading platform will contest the decision as “not all market-specific circumstances have been taken into account”.

“We have always been committed to ensuring that the interests of our customers around the world are protected. In this situation, we stood up to reduce the potential impact on our customers. The goal of Admiral Markets is always to be a quality leader, to offer the best service, and open communication with its customers and cooperation partners. We informed our customers early on of possible anomalies in the financial markets and asked them to be vigilant”, said CEO Sergei Bogatenkov.


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