Admirals has stopped onboarding under its Jordanian licence in the fourth quarter of 2025 and is also not taking clients under its Kenya unit. New clients from those countries are being onboarded under the Seychelles licence.
“We have informed all our clients and provided solutions and alternatives based on regulatory guidance and client needs,” an Admirals customer service executive told Finance Magnates when asked about the migration of traders under its Jordanian licence. “Since each case is individual and for compliance reasons, we cannot share further information.”
However, the customer support team did not clarify whether Admirals had previously onboarded traders under the Kenyan licence. The broker obtained the Kenyan licence in 2022.
Interestingly, it also gave up its South African licence, which it secured a few months before obtaining its Kenyan licence.
- Admirals Swings to €16M Loss as 2024 EU Onboarding Pause Hits Activity
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- Exclusive: Admirals Sold Its Australia Unit to Offshore Broker PU Prime
Estonia Is Still the Headquarters
The contracts-for-difference (CFDs) broker has also applied to surrender its Estonian licence and migrated all traders from that unit to its Cyprus-regulated entity last November.
It is now expected to give up the Estonian licence in the second quarter of 2026. The move is not new, as it already revealed its plan in mid-2023.
Despite giving up the licence, it will maintain its headquarters in Estonia as a “strategic location” and will have about 60 employees in the country.
The broker is currently accepting traders under its Cyprus, United Kingdom, and Seychelles licences. It also paused client onboarding under its Cyprus unit for about 10 months in 2024 before restarting it in March 2025.
Read more: Admirals UK Migrated EU-Resident Clients Out; 2024 Trading Volume Took a Hit
The Big Restructuring at Admirals
Admirals also sold its Australian business, and Finance Magnates later found that PU Prime was the buyer. The MENA unit of the broker surrendered its FSRA-issued UAE Financial Services Permission.
The company also announced today (Thursday) that it is planning structural changes within the group, and giving up the Estonian licence is part of this.
“The restructuring is driven by a fundamental need and strategic decision to optimise the group’s geographical footprint by focusing on a smaller number of countries and regions where the group has stronger growth opportunities and a clearer strategic focus,” the broker added. “The ongoing changes will not affect existing group clients.”
Meanwhile, the broker’s finances also took a hit. The group posted a net loss of EUR 16.2 million in 2025, down from a profit of under half a million euros in the previous year..
