The firm posted an increase of 6% in the number of trades.
Admirals' active clients and accounts expanded 96% and 84%, respectively.
Admiral Markets has reported its financial results
for the first six months of 2023, highlighting mixed performance during this
period. Despite an increase in the number of active clients, the company posted
a net loss of EUR 3.9 million.
A Surge in Active Clients
Admirals Markets experienced substantial growth in its client
base, with active clients and accounts increasing 96% and 84% to 65,636 and 75,975, respectively. The number of new applications skyrocketed 222%. Besides that, Admirals' cost-to-income ratio
rose 47%, reflecting the impact of reduced revenue on overall
profitability.
Sergei Bogatenkov, Admirals Markets' CEO and Chairman of the
Management Board, mentioned: "Our global team is open to new possibilities
that the industry embodies. The creation of partnerships is crucial.
Business-to-Business-to-Everything will be one of the keywords defining the
future of value propositions, as it embodies the excellent potential for our
business."
"We also believe mergers and acquisitions
provide significant opportunities for Admirals to accelerate growth and extend
our footprint in the industry."
In the first half of 2023, Admirals' commodity CFD
products experienced a significant increase in contribution, accounting for 27%
of total gross trading income. Conversely, the share of other products, such as
stocks and ETFs, incurred losses.
Financial Position and Outlook
Admiral Markets AS has EUR 74.2 million in
shareholders' equity. The firm's balance sheet comprises around 45% of liquid
assets. During the first six months of 2023, the company's marketing expenses decreased 55%. Additionally, its value of trade dropped 4% to EUR 448 billion compared to the same period of 2022.
Currently, Admirals Group is undergoing a significant
transition as Alexander Tsikhilov assumes the role of CEO, succeeding Sergei
Bogatenkov, Finance Magnates reported.
As one of the brokerage's Co-Founders, Tsikhilov
brings a wealth of experience to his role as the CEO, having previously served as the CEO and Chairman of the Supervisory Board. His return to the executive helm
signifies continuity and a deep understanding of Admirals Group's trajectory.
Admiral Markets has reported its financial results
for the first six months of 2023, highlighting mixed performance during this
period. Despite an increase in the number of active clients, the company posted
a net loss of EUR 3.9 million.
A Surge in Active Clients
Admirals Markets experienced substantial growth in its client
base, with active clients and accounts increasing 96% and 84% to 65,636 and 75,975, respectively. The number of new applications skyrocketed 222%. Besides that, Admirals' cost-to-income ratio
rose 47%, reflecting the impact of reduced revenue on overall
profitability.
Sergei Bogatenkov, Admirals Markets' CEO and Chairman of the
Management Board, mentioned: "Our global team is open to new possibilities
that the industry embodies. The creation of partnerships is crucial.
Business-to-Business-to-Everything will be one of the keywords defining the
future of value propositions, as it embodies the excellent potential for our
business."
"We also believe mergers and acquisitions
provide significant opportunities for Admirals to accelerate growth and extend
our footprint in the industry."
In the first half of 2023, Admirals' commodity CFD
products experienced a significant increase in contribution, accounting for 27%
of total gross trading income. Conversely, the share of other products, such as
stocks and ETFs, incurred losses.
Financial Position and Outlook
Admiral Markets AS has EUR 74.2 million in
shareholders' equity. The firm's balance sheet comprises around 45% of liquid
assets. During the first six months of 2023, the company's marketing expenses decreased 55%. Additionally, its value of trade dropped 4% to EUR 448 billion compared to the same period of 2022.
Currently, Admirals Group is undergoing a significant
transition as Alexander Tsikhilov assumes the role of CEO, succeeding Sergei
Bogatenkov, Finance Magnates reported.
As one of the brokerage's Co-Founders, Tsikhilov
brings a wealth of experience to his role as the CEO, having previously served as the CEO and Chairman of the Supervisory Board. His return to the executive helm
signifies continuity and a deep understanding of Admirals Group's trajectory.
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
π LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
π Facebook: https://www.facebook.com/FinanceMagnatesEvents
πΈ Instagram: https://www.instagram.com/fmevents_official
π¦ Twitter: https://twitter.com/F_M_events
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βΆοΈ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
π LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
π£ Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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π Subscribe to our YouTube channel for more!π
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
π£ Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
π LinkedIn: https://www.linkedin.com/company/financemagnates/
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Don't miss out on our latest videos, interviews, and event coverage.
π Subscribe to our YouTube channel for more!π
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa