Admiral Markets Obtains IIROC Membership to Offer CFDs Execution Services in Canada

Admiral Markets Canada Limited is admitted to membership in the Investment Industry Regulatory Organization of Canada (IIROC), effective March 24, 2022.

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The membership allows Admiral to provide execution-only services in Contracts-For-Difference (CFDs) to clients in Ontario and British Columbia. The broker plans to increase the scope of the company's activities in Canada over the coming year.

In addition, Admiral looks to see how the local market takes up the product offering and what unique selling points the company can provide which will differentiate themselves from the more traditional offerings in Canada.

"Obtaining this license in Canada is a strategic benchmark for the company being our first license achieved in the region of North- America,"commented the CEO of Admirals, Sergei Bogatenkov."This is a part of our long-term strategy and positioning ourselves globally. Furthermore, with this success we tick an important goal on our roadmap for our 2030 strategy."

"During recent years, we have opened new regions, which enable us to offer access to financial markets for everybody and anytime. This is another success story and continuation of our expansion plans. Regardless of that this is a move outside our core markets in Europe, we are confident that lessons learned and particularly language synergies with the region we commence operations should allow us to seemingly adapt our operation successfully in Canada,"added the CEO.  

Today's announcement follows Admiral revealing that its annual revenue stood at €37 million, representing a 43.9% drop compared to the previous year's €66 million. Also, the company saw a 43% fall in its net trading income to €35.7 million.