Admirals Group AS, the parent company of Admirals, a company that trades in FX/CFDs, is planning to join with its Estonian arm, Admirals Markets AS, in the first half of 2024.
The company has announced plans to withdraw its investment company license from Estonia by August, as part of its larger restructuring strategy.
This move will allow the Group to expand and strengthen its global presence, as it maintains operations across 18 countries and services customers from 145 countries.
This Group, which provides services such as forex, CFDs, and stock trading, holds licenses in several countries, including the UK, Australia, Canada, Cyprus, and South Africa.
Admirals stated:
The restructuring stems from the fundamental necessity and choice to expand the Group’s presence globally, as the Company has substantially positioned itself in new regions during recent years. The on-going change shall have no impact on the existing Group’s clients.
Albeit the restructuring, Estonia remains the Company’s strategic location. The Company continues to be headquartered in Tallinn, Estonia with more than 100 employees.
Admirals further said that their loan platform, MoneyZen, regulated by the Estonian Financial Supervision and Resolution Authority, will carry on its activities in Estonia.
Read more: Couple Charged for $4.1M Ponzi Scheme | Brokers Times
