Admirals Obtains Kenya License, Further Expanding into Africa

Admirals, an Estonia based Retail FX and CFDs broker, announced on Thursday that Admirals Kenya Limited has been licensed as a non-dealing online forex trading broker in the East African country by the Kenya's Capital Marekts Authority (CMA).

According to the company, it "hopes the achieving of this license shall assist further growth in Africa and grant access to a stringently regulated market."

Admirals has long been eyeing the African market. The new license comes after the broker obtained broker license in South Africa​ in June this year and established its first local office in Cape Town at the same time. A previous statement revealed that "Establishing its first hub in Africa, Admirals plans to further set up its strong presence in the continent.” 

In addition, Admirals also noted in the Thursday statement that Admiral Markets Cyprus and Admirals South Africa have signed an agreement to jointly takeover Aglobe Invesments Limited, a Seychelles based company that is licensed as a securities dealer by the Seychelles Financial Services Authority.

Admirals has witnessed strong uptick in H1 revenue and net profit after a series of expansion measures in the first half of 2022. 

Most recently, the broker extended its trading lineup with additions of 300+ USA Stock CFDs.