Admirals has announced the resumption of onboarding activities for new clients in the European Union (EU), following a temporary pause earlier in 2024. The company made this announcement after an 11-month hiatus, which began in April 2024 when FNG exclusively reported that Admirals had stopped onboarding EU clients through its Cyprus-based, CySEC-licensed subsidiary, Admirals Europe Ltd.

Admirals Resumption of Onboarding New Clients in the EU

The pause came after a major restructuring at Admirals in 2023, during which the company relinquished its license in Estonia. In a statement, Admirals explained that this decision was part of its ongoing efforts to enhance its compliance framework and ensure alignment with evolving financial regulations in the EU. This move was also to uphold the highest industry standards while ensuring uninterrupted service to its existing clients.

Admirals emphasized that while onboarding had been temporarily halted, the company maintained a high level of service to its current clientele throughout the pause. With the resumption of onboarding, the company plans to not only attract new clients but also strengthen its position as a reputable and solid partner in the market.

The announcement comes at a time when Admirals is facing challenges, having reported a 25% drop in revenues for the second half of 2024, marking its lowest levels since the previous decade. The company also reported its fifth consecutive semi-annual net loss earlier today. Despite these setbacks, Admirals remains focused on improving its services and enhancing its compliance efforts, which it views as crucial for long-term growth and stability.

As part of its ongoing commitment to regulatory compliance and market presence, Admirals continues its close collaboration with the Cyprus Securities and Exchange Commission (CySEC) to ensure its operations meet the highest regulatory standards.

By strengthening its collaboration with CySEC and enhancing its compliance framework, Admirals aims to rebuild its market position, attract new clients, and reinforce its reputation as a trusted and solid partner in the financial services industry.

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