Admirals Sees 43.9% Drop in 2021 Revenue

Admirals (formerly known as Admiral Markets), a global retail FX and CFDs broker, has released its financial report for the 2021, showing a significant drop in its revenue.

Specifically, the broker's 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. The figure was €62.2 million in 2020.

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Comparing year-on-year, the value of trades dropped 16% to €842 billion. The number of trades also decreased 22% to €52.1 million. However, in terms of the number of active clients, the broker recorded an uptick of 2% to 49,080 clients, with the number of active accounts rising 1% to 63,231 accounts.

The Group's net profit for the year ended was €0.9 million compared to €20.3 million for the previous year. Furthermore, the number of new applications increased by 32% compared to 2020. 

According to Sergei Bogatenkov, CEO of Admirals, the company has experienced success in its journey to become a financial centre: "And our excellent performance during turbulent times, producing unique results and, most importantly, seeing the relevance of our vision, long-term goals, and strategic plan was undeniable. I am grateful to our global team, partners and investors, with whom we will continue to shake up the financial world and stand up for an innovative, unified, and personal experience in finance.”

Recently, Admirals has announced the appointment of Sami Hamed as the new Chief Executive Officer at its branch in Jordan.